A Lululemon store in New York
Scott Mill | CNBC
Check out the companies making the biggest moves pre-market:
lululemon — Shares of the Canadian clothing company fell more than 10% after Lululemon lowered its first-quarter gross margin forecast. The athleisure channel has raised its fourth-quarter net revenue forecast and now expects growth of 25% or more, year-over-year.
Visa, MasterCard – Shares of payment companies gained 1.1% and 1.7%, respectively, after Keybanc raised their ratings to overweight them instead of weighting the sector.
duck creek – The insurance industry intelligence solutions provider will be taken private by Vista for $19 per share in cash, CNBC’s David Faber reported. The deal is expected to be announced shortly, he said. Shares jumped 39%.
Zillow – Shares of the housing market company gained 4% after Bank of America doubled down on the stock to buy, citing its improved growth outlook despite a tough macro environment.
Hological – The women’s diagnostics provider reported first-quarter revenue on Sunday that beat its latest forecast and Wall Street analysts’ estimates. The shares gained 2.8% premarket.
Energy Stocks – Rising oil prices sent several pre-market energy stocks higher. Marathon oil, Halliburton, EOG Resources and Hesse all rallied more than 2%.
Bed, bath and beyond — Shares of the beleaguered retailer jumped more than 17% pre-market. Bed, Bath & Beyond last week warned of its ability to continue trading, sending shares tumbling.
Oracle – Shares of the software maker rose more than 1% in premarket trading following an overweight upgrade from neutral by Piper Sandler. The investment bank said in a note that Oracle’s cloud business could grow more than 20% annually over the next few years.
Uber – Shares gained 2.8% after the ridesharing platform was upgraded from neutral by Piper Sandler. The bank said rising car prices would push consumers towards Uber and other ride-sharing platforms.
Nvidia – The stock gained 1.6% premarket after being named a top pick by Wells Fargo analysts, who said they see a positive data center product cycle materializing through 2023 .
You’re here – Tesla shares rose 3.7% premarket on Monday after lawyers for Elon Musk asked a California court on Saturday to move a lawsuit over the company’s shares to Texas, citing local negativity .
Ferrari – The shares rose more than 2% before market after being named among the top picks for 2023 by Bank of America. Analysts noted the automaker’s balanced strategy, resilient financial performance and cautious outlook for 2023.
— CNBC’s Tanaya Macheel, Jesse Pound, Alex Harring, Sarah Min and Michael Bloom contributed reporting.
