Stocks making the biggest moves premarket: Penn Entertainment, Lyft, WeWork and more

Check retired the companies making headlines earlier the doorbell Wednesday.

WeWork — The banal plunged 25.7% aft WeWork said successful an SEC filing that there's uncertainty astir the company's quality to support operating amid weaker-than-expected rank rates. WeWork warned of measures specified arsenic a imaginable bankruptcy, restructuring oregon refinancing its debt. Its stock price, which was beneath $1 since aboriginal this year, dropped to $0.05 successful premarket trading.

Carvana — Online used-car retailer Carvana added 7.4% earlier the bell. Carvana expects adjusted EBITDA for the 3rd 4th to beryllium supra $75 million, which is higher than its anterior guidance and analysts' expectations of $46.4 million, according to StreetAccount. The company, which announced a indebtedness restructuring statement successful July, has seen its banal terms soar much than 850% truthful acold this year, buoyed by abbreviated sellers rushing to screen their bets.

Lyft — Shares mislaid astir 6% during premarket trading aft the ride-hailing institution announced its second-quarter earnings. Lyft posted gross of $1.02 billion, successful enactment with analysts' estimates, according to Refinitiv. Meanwhile, adjusted net per stock came successful astatine 16 cents, beating estimates of a nonaccomplishment of 1 cent per share.

Penn Entertainment — Shares of the amusement and casino institution gained much than 15% successful aboriginal greeting trading aft Disney's ESPN announced a 10-year woody with Penn to make ESPN Bet, a sports betting site. As portion of the deal, Penn volition wage ESPN $1.5 cardinal successful cash. Disney's banal terms gained much than 1.8% connected quality of the deal.

Axon Enterprise — Shares of the subject exertion developer precocious 13.8% successful premarket trading aft reporting a bushed connected net and gross for the 2nd quarter. Axon posted net per stock of $1.11, flying past analysts' expectations of 62 cents, according to StreetAccount. Revenue came retired astatine $374.6 million, portion analysts expected $350.5 million. JPMorgan upgraded the banal to outperform and assigned a $235 terms target, which suggests 34% upside.

Bumble — Dating level Bumble slid 2.8% adjacent aft the institution bushed expectations for its 2nd 4th connected some lines. But Bumble offered anemic expectations for adjusted EBITDA successful the existent quarter. 

DraftKings — The sports betting institution saw its shares autumn astir 4.6% aft Disney-owned ESPN announced a concern with its rival Penn Entertainment connected a gambling sportsbook.

Toast — Shares of the edifice absorption bundle level popped 14% aft the institution posted second-quarter net that topped expectations. Earnings per stock of 19 cents surpassed a StreetAccount estimation of 1 cent per share. Toast reported $978 cardinal successful revenue, besides exceeding expectations of $943.1 million.

Marqeta — Shares of the payments level institution jumped astir 19% aft Marqeta announced it struck a four-year woody to proceed servicing Block's CashApp. The institution besides reported a mixed 2nd quarter. Marqeta mislaid 11 cents per stock connected $231 cardinal of revenue. Analysts surveyed by Refinitiv were expecting a nonaccomplishment of 9 cents per stock connected $219 cardinal of revenue.

Akamai Technologies — The cybersecurity institution gained 6.4% successful premarket trading aft it raised its full-year guidance and reported net for the 2nd 4th that surpassed Wall Street's expectations.

— CNBC's Hakyung Kim, Yun Li, Alex Harring and Jesse Pound contributed reporting.