A Lululemon store in New York
Scott Mlyn | CNBC
Take a look at the companies making the biggest pre-market moves:
Lululemon — Shares of the Canadian apparel company fell more than 10% after Lululemon cut its first-quarter gross margin guidance. The athleisure chain raised its net income guidance for the fourth quarter and now expects year-over-year growth of 25% or more.
Visa, MasterCard — The shares of the payment companies rose by 1.1% and 1.7%, respectively, after Keybanc upgraded its ratings to overweight from sector weight.
Duck Creek — The provider of intelligence solutions for the insurance industry will be taken private by Vista for $19 per share in cash, CNBC’s David Faber reported. The deal should be announced soon, he said. The share rose 39 percent.
Zillow — Shares of the real estate market company rose 4% after Bank of America doubled down on the stock to buy, citing improved growth prospects despite a challenging macroeconomic environment.
Hologically — The women’s diagnostics provider on Sunday reported first-quarter earnings that topped the latest guidance and estimates from Wall Street analysts. Shares rose 2.8% before the market.
Energy stocks — Rising oil prices sent several energy stocks higher premarket. Marathon oil, Halliburton, EOG Resources and Hess all rose more than 2%.
Bed, Bath & Beyond — Shares of the beleaguered retailer rose more than 17% premarket. Bed, Bath & Beyond warned last week about its ability to continue as a going concern, sending shares tumbling.
Oracle — Shares of the software maker rose more than 1% in premarket trading after an upgrade to overweight from neutral by Piper Sandler. The investment bank said in a note that Oracle’s cloud business could see annual growth of more than 20% over the next few years.
Uber — Shares rose 2.8% after the rideshare platform was upgraded to overweight from neutral by Piper Sandler. The bank said increased car prices will push consumers to 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.
Tesla – Tesla shares rose 3.7% premarket on Monday after Elon Musk’s lawyers asked a California court on Saturday to move a trial over the company’s stock to Texas, citing local negativity.
Ferrari — Shares rose more than 2% premarket after being named a top pick for 2023 by Bank of America. Analysts noted the automaker’s balanced strategy, robust financial results and conservative 2023 outlook.
– CNBC’s Tanaya Macheel, Jesse Pound, Alex Harring, Sarah Min and Michael Bloom contributed reporting.