Stock futures fell Wednesday as the Dow Jones Industrial Average dipped further into a bear market low from the previous session.
Here are 4 tickers trending on Yahoo Finance in premarket trading:
Apple Inc. (AAPL): Shares of Apple moved lower in premarket trading after the company scrapped plans to increase iPhone production amid softer-than-expected demand, Bloomberg reported. The company told suppliers that it will aim to produce 90 million iPhones in the current fiscal year. The tech giant planned to make up to 6 million more handsets, though the 90 million level is in line with the company's original forecast from the summer. Apple stock has fallen 15% this year.
Biogen Inc. (BIIB): Shares of Biogen surged higher in premarket trading following reports that experimental Alzheimer's drug lecanemab reduced cognitive and functional decline by 27% versus a placebo in an 18-month Phase 3 trial of patients in early stages of the disease. The trial's success is the company’s latest win since the FDA approved Biogen's Alzheimer's drug aducanumab last year despite concerns over its efficacy. Medicare has limited coverage of aducanumab, however, sharply limiting its use.
Mind Medicine (MNMD): The biopharmaceutical company announced a proposed public offering of common shares on Tuesday, sending shares lower. The combined offering price of the common share and accompanying warrant is $4.25. RBC Capital Markets and Cantor Fitzgerald are acting as the lead book-running managers for the offering.
BlackBerry Limited (BB): Shares of BlackBerry edged lower after the company reported a revenue loss for the second quarter compared to last year. The company said it had a net loss of $54 million for the quarter ending Aug. 31, compared with a net loss of $144 million for the same quarter last year. The company expects revenue from its cybersecurity segment in the third quarter to be flat year-on-year.
Dani Romero is a reporter for Yahoo Finance. Follow her on Twitter @daniromerotv
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