Premarket Movers: Alcoa up after beating estimates

Despite the decline, the aluminum maker beat expectations and shares rose 4 percent to $33.65 in premarket trading Wednesday.

A Goldman Sachs note that added Intuit Inc. to its Conviction Sell list and downgraded shares of Digital River Inc. to "Sell" from "Neutral" sent shares of both software makers lower in the premarket. Intuit fell 4 percent to $28.20, while Digital River lost 6.3 percent to $36.50. Analysts cited concerns over weakening U.S. and international economic environments.

A disappointing second-quarter forecast sent shares of Arris Group Inc. 15.7 percent lower to $7.50 in the premarket. The communications technology company blamed weaker sales of voice-enabled cable modems.

Shares of Cisco Systems Inc. fell 2.8 percent to $22.25 in early action after an RBC Capital Markets analysts cut his price target on the network equipment maker on the expectation of recovery in technology spending.

Bond insurer MBIA Inc. said early Tuesday that it received approval from the New York State Insurance Department for interest payments on its Surplus Notes. Shares jumped 7.5 percent to $5.12.