Good Morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures jolted higher on Wednesday after a hotter-than-expected CPI report led to a sell-off yesterday and signaled the Federal Reserve could delay interest rate cuts. Despite the biggest drop in the indexes since March 2023, many top investors remain optimistic. U.S. Bank Wealth Management chief equity strategist Terry Sandven cited the pullback “allows valuations to come a little more in line with fundamentals.”

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

Lyft, Inc. (Nasdaq: LYFT)

Lyft is up 20.12% in premarket after their fourth-quarter earnings report. The rideshare company showcased an increase in ridership, leading to a boost in revenues. They also reported 190.8 million rides for the quarter, surpassing the estimated 183.97 million, and matched revenue expectations with $1.22 billion. The company also provided optimistic first-quarter gross bookings guidance, suggesting a positive outlook for the near future.

QuidelOrtho Corporation (Nasdaq: QDEL)

QuidelOrtho is down 37.86% in premarket trading after reporting a decrease in total revenue to $743 million in Q4 2023, down from $867 million in the prior year period. For the full year, QuidelOrto reported $3 billion in revenue, with respiratory revenue decreasing by 61%.