Penn Entertainment, Rivian and Twilio rise premarket; Lyft, WeWork fall

Investing.com -- U.S. futures rose Wednesday, rebounding after the previous session's losses with investors digesting more corporate earnings.

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

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  Penn Entertainment (NASDAQ: PENN) stock rose 13% after the online bettor signed a deal with Walt Disney's (NYSE: DIS) ESPN to jointly launch a sports betting business under the brand ESPN Bet. This resulted in the stock of rival DraftKings (NASDAQ: DKNG) falling 5.2%.

  
  


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  Amazon (NASDAQ: AMZN) stock rose 0.4% after Reuters reported that the online e-commerce giant is in negotiations over joining a number of other technology firms as an anchor investor in Softbank-owned chip designer Arm's planned initial public offering.

  
  


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  Lyft (NASDAQ: LYFT) stock fell 6.6% on concerns the ride-hailing platform's focus on competitive pricing to gain market share would muddy its path to profitability.

  
  


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  Twilio (NYSE: TWLO) stock rose 6.2% after the cloud computing platform operator raised its full-year profit forecast after reporting strong second-quarter results.

  
  


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  Rivian Automotive (NASDAQ: RIVN) stock rose 1.1% after the electric vehicle maker lifted its annual production guidance after reporting a narrower-than-expected loss in the second quarter as it ramped up production.

  
  


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  Sony (NYSE: SONY) stock rose 0.9% after the Japanese conglomerate raised its full-year sales forecast on the back of expected strength for its PlayStation gaming business, even after reporting a 31% drop in first-quarter profit.

  
  


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  WeWork (NYSE: WE) stock slumped 9% after the workspace provider raised "substantial" doubt about its ability to continue as a going concern and said three board members had stepped down.

  
  


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  United Parcel Service (NYSE: UPS) stock fell 1.3% after UBS downgraded its stance on the delivery giant to ‘neutral’ from ‘buy’, citing margin pressures and lower shipping volumes.

  
  

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