Good morning Wake-up Watchlisters! While you’re sipping coffee you’ll see stock futures fell on Wednesday. Investors are preparing for the Federal Reserve’s latest interest-rate decision. The latest data from the UK showed inflation unexpectedly accelerated in February, surpassing all economists’ forecasts and further complicating global markets.

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Here’s a look at the top-moving stocks this morning.

Gamestop (NYSE: GME)

Gamestop is up 42.83% premarket after posting a surprise fourth quarter adjusted profit of 16 cents per share. Wall Street had been expecting a loss of 15 cents per share. Short interest in the flagship meme stock is about 21%, and analyst Ihor Dusankiwsky expects a big short covering tomorrow.

AMC Entertainment Holdings (NYSE: AMC)

AMC Entertainment is up 11.79% premarket as the fellow meme stock got a boost following Gamestop’s 42% rally. 2022 was a devastating year for AMC, with the stock starting at 27.20 and ending the year at 4.07, a miserable 85% loss. So far in 2023, it’s off to a better start with shares more than doubling from its year-end close of 4.07.

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Bed, Bath & Beyond (Nasdaq: BBBY)

Bed, Bath & Beyond is up 11.64% premarket in another meme stock rally from Gamestop’s boost. Prior to today’s trading, shares of the home goods retailer had lost 55.11% over the past month. Analysts are expecting Bed Bath & Beyond to post earnings of -$2.15 per share. This would mark a year-over-year decline of 133.7%.

Petco Health and Wellness Company (Nasdaq: WOOF)

Petco is down 9.54% premarket after its latest earnings report. The company delivered net revenue of $1.58 billion, up 4.2 percent versus the prior year. This was driven by the strength of its consumables business. The company also saw a 1.1 decrease in adjusted EBITDA. Its adjusted earnings per share of $0.23 was also a decline of $0.05 from the prior year. Overall, the company saw a 44.8 percent decrease in net income for 2022.

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Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team