Stitch Fix, Ford, KB Home fall premarket; Trump Media rises

Investing.com — US stock traded marginally lower Wednesday, slipping back from record levels ahead of more comments from a series of Fed officials.

Here are some of the biggest premarket US stock movers today:

• Nvidia (NASDAQ:) stock fell 0.3% after the chip giant rose more than 3% in the previous session, buoyed by reports that CEO Jensen Huang was done selling Nvidia shares after offloading more than $700 million worth of shares under a trading plan.

• Stitch Fix (NASDAQ:) stock slumped 26% after the online personal styling service reported a wider-than-expected loss for its fiscal fourth quarter and issued disappointing guidance.

• Ford (NYSE:) stock fell 2%, General Motors (NYSE:) stock fell 3.3% and Rivian (NASDAQ:) stock dropped 3.1% after Morgan Stanley cut its view on the auto industry, as well as downgrading the three companies.

• KB Home (NYSE:) stock fell 6.6% after the homebuilder reported third quarter earnings that missed expectations, as well as providing weaker-than-expected guidance.

• Progress Software (NASDAQ:) stock rose 6.9% after the global software reported higher earnings in the fiscal third quarter, beating expectations, and raised its outlook for the year.

• Trump Media & Technology (NASDAQ:) stock rose 5.5%, bouncing after Republican candidate Donald Trump unveiled details on his economic plans for the country, including several new manufacturing proposals.

• KLA Corporation (NASDAQ:) stock fell 0.4% after Oppenheimer initiated coverage of the capital equipment company with a “perform” rating, saying it is priced for perfection.

• SAP (NYSE:) ADRs fell 3.3% after it was reported that the U.S. Justice Department is investigating the German software developer.