Before the bell, several companies made headlines. Delta Air Lines soared 4%, buoyed by its record-high quarterly earnings and revenue and its 2023 earnings forecast above analysts' expectations. MillerKnoll dropped 5%, despite beating its fourth-quarter earnings expectations, while PepsiCo ticked up 2% after beating both its earnings and revenue forecasts. Walt Disney Company stock rose 1.5% following news of CEO Bob Iger's contract extension to 2026. ViaSat plummeted 22% following an issue with its recently launched communications satellite, and Carvana nosedived 6.4% after JPMorgan downgraded it to underweight. Alphabet's share price ticked up 1% in the premarket with the rollout of its Bard chatbot in the EU and Brazil, while Meta Platforms bolstered 1%, reportedly set to release a commercial version of its artificial intelligence model. Cirrus Logic lifted 1%, after announcing a 5% cut in its global workforce due to "overall market conditions". Coinbase shares dipped 1% after Barclays downgraded it to underweight and Morgan Stanley downgraded SoFi Technologies to underweight, sending its stock down 3.7%.
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