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SPDR S&P Metals and Mining (ETF) (NYSE: XME), the exchange traded fund which seeks to replicate the performance of the S&P Metals & Mining Select Industry Index, was trading lower by 1 percent early Wednesday morning. Various media reports are saying President Donald Trump cancelled a meeting scheduled for Thursday with steel and aluminum executives.

Urban Outfitters, Inc. (NASDAQ: URBN) stock was trading lower by more than 2.5 percent. The retailer reported its fourth quarter results after Tuesday's close. The company said it earned 69 cents per share on revenue of $1.089 billion versus expectations of 63 cents and $1.08 billion. It should be noted after the print was released on Tuesday, shares traded down by as much as 11.7 percent.

Weight Watchers International, Inc. (NYSE: WTW) lost more than 3 percent. Notable media mogul, board member and major shareholder Oprah Winfrey sold approximately one quarter of her entire stake in the company. In a statement she reaffirmed her deep commitment to Weight Watchers and continues to "see a bright future for the company."

Innovate Biopharmaceuticals Inc (NASDAQ: INNT) fell more than 7 percent Wednesday morning on top of Tuesday's 16 percent decline. The nano-cap clinical stage biotechnology has seen its stock rally nearly 300 percent since March 1 on no notable company specific news.

Baozun Inc (ADR) (NASDAQ: BZUN) lost nearly 5 percent. The China-based e-commerce solutions company is currently the most-searched ticker on Benzinga Pro. Shares rallied more than 30 percent Tuesday after reporting an earnings beat in its fourth quarter results.

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Posted-In: News Pre-Market Outlook Trading Ideas


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