Coinbase, Tesla, DoorDash: What to Watch in the Stock Market Today

U.S. stocks opened lower, and fresh data showed that U.S. inflation hit a three-decade high last month. Here’s what we’re watching for in Wednesday’s trading session:

  • Coinbase Global shares tumbled after the company posted third-quarter revenue that missed analysts’ targets.
  • Tesla ’s stock price is in focus. The electric-vehicle maker’s shares have fallen for three consecutive days.
  • Online marketplace Poshmark posed third-quarter sales below Wall Street expectations and issuing a fourth-quarter forecast that missed estimates.
  • DoorDash said it has agreed to acquire European food-delivery company Wolt Enterprises Oy in an all-stock deal valued at over $8 billion and reported quarterly results that topped Wall Street’s estimates.
  • Doughnut-maker Krispy Kreme reported an 18% revenue increase in the latest period, helped again by international operations that performed stronger than before the pandemic.
  • A European Union court largely upheld a $2.8 billion antitrust decision against Alphabet ’s Google, adding new momentum to the bloc’s assault on big tech companies.
  • Mattress-maker Purple Innovation said sales in the latest quarter were hit by manufacturing backlogs and it lowered annual outlook.
  • Electric vehicle maker Rivian’s shares are expected to debut trading today.
  • Walt Disney and Beyond Meat are scheduled to post quarterly earnings after markets close.
Chart of the Day
  • General Electric said it would split into three public companies, breaking apart the more than century-old company that was once a symbol of American manufacturing might and has struggled in recent years.

Write to Caitlin Ostroff at caitlin.ostroff@wsj.com