Citigroup, KB Home, Southwestern Energy fall premarket; Coinbase rises

investing.com:

Investing.com — U.S. futures edged higher Thursday, ahead of the release of the December inflation data which could guide market expectations over potential Federal Reserve rate cuts this year.

Here are some of the biggest premarket U.S. stock movers today:

Citigroup (NYSE:C) stock fell 1.5% after the banking giant booked about $3.8 billion in combined charges and reserves that will erode its fourth-quarter earnings set to be reported on Friday.

Alphabet (NASDAQ:GOOGL) stock rose 0.4% following media reports that the tech giant’s Google unit is dismissing hundreds of its employees across several divisions to decrease costs and support an ongoing push into artificial intelligence.

KB Home (NYSE:KBH) stock fell 3% after the homebuilder disappointed with its fourth-quarter results, as the average selling price for its properties fell 4.5% during the quarter.

Coinbase (NASDAQ:COIN) stock rose 5.1%, with the cryptocurrency exchange benefiting from the news that the U.S. securities regulator has approved the first U.S.-listed exchange-traded funds to track bitcoin.

Chesapeake Energy (NYSE:CHK) stock rose 1.1% and Southwestern Energy Company (NYSE:SWN) slumped 3.6% after the two boards approved a merger valued at $7.4 billion, creating a gas giant.

Salesforce (NYSE:CRM) stock rose 1.4% after Baird upgraded the cloud-based software company to ‘outperform’ from ‘neutral’, highlighting the company's strong performance last year and current low valuation.

Chewy (NYSE:CHWY) stock rose 1.8% after Barclays upgraded the e-commerce company to ‘overweight’ from ‘equal weight’, highlighting it as a promising candidate for significant returns within the challenging market.

American Airlines (NASDAQ:AAL) stock rose 1.3% after Jefferies