Target, Cava and Coinbase rise premarket; Tesla, Tower Semiconductor fall

investing.com:

Investing.com — U.S. futures traded just higher Wednesday, with investors wary ahead of the release of the minutes from the last Federal Reserve meeting, which could provide future monetary policy guidance.

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

Target (NYSE:TGT) stock soared 7.5% after the big-box retailer's quarterly profit exceeded expectations, benefiting from fewer discounts and better-stocked store shelves, making up for lowered full-year sales and profit guidance.

Tesla (NASDAQ:TSLA) stock fell 2.3% after the electric vehicle manufacturer announced its second price cut in China in three days, further fueling worries of a potential price war in the country's lucrative EV market.

H&R Block (NYSE:HRB) stock rose 5.2% after the tax preparer reported strong fourth quarter results, underpinned by pricing power in its assisted channel, and raised its dividend by 10%.

Cava (NYSE:CAVA) stock soared 9.5% after the restaurant chain posted a profitable quarter for its first earnings report since its initial public offering in June.

Coinbase (NASDAQ:COIN) stock rose 2.9% after the exchange said it had secured regulatory approval to allow U.S. retail customers to trade crypto futures.

JD (NASDAQ:JD) ADRs fell 5% after weak Chinese economic data raised fears about future growth, even as the e-commerce firm beat expectations for second-quarter revenue.

Tower Semiconductor (NASDAQ:TSEM) stock fell 11.4% after Intel (NASDAQ:INTC) terminated its plans to acquire the Israeli contract chipmaker, with the U.S. tech giant having to pay a termination fee of $353 million.