Check out the following firms that are making the largest changes in premarket trading:
Dish Network: The satellite company’s stock dropped nearly 5% following a multi-day service outage and a double-downgrade from Bank of America. Dish shares are down 13.5% in 2023, following a 61.8% decrease in the previous year.
Target climbed 1.2% after announcing fiscal fourth-quarter profits per share of $1.89, above the $1.40 average of Refinitiv analysts surveyed. Target’s revenue was also above forecasts, but its full-year profit projection fell short.
Arconic: Arconic’s shares fell 3.5% after Goldman Sachs downgraded it to sell from neutral. The company highlighted an unclear demand forecast in Europe.
Celsius Holdings: The energy drink company surged 4.2% after Credit Suisse upgraded it to outperform from neutral. According to the company, the distribution partnership with Pepsi is working well, and the long-term potential is great.
Norwegian Cruise Line Holdings of Norwegian Cruise Line Shares of the cruise line sank more than 5% in premarket trade Tuesday after the firm revealed a larger-than-expected fourth-quarter loss. On $1.52 billion in revenue, the business lost an adjusted $1.04 per share. FactSet’s StreetAccount polled analysts, who predicted a loss of 86 cents per share on $1.50 billion in revenue. Norwegian’s profit forecast for 2023 was also lower than anticipated.
Zoom Video: The video communications business rose 6.9% in premarket trading following a fourth-quarter top- and bottom-line beat. The full-year sales forecast was lower than expected, but the profit outlook exceeded expectations.
Dick’s Sporting Goods: The sporting-goods company fell 2.6% after Citi reduced its rating from buy to neutral. The Wall Street company predicts that near-term gross margin pressure will persist.
Workday: Human resources software declined 2.4% as its first-quarter sales outlook came in lower than expected. According to Refinitv, it outperformed expectations for fourth-quarter revenue and profitability.
His and Her Health: His and Her Health posted quarterly earnings that beat expectations on both the top and bottom lines, sending the telehealth stock up more than 9%. On $167.2 million in revenue, the company lost 5 cents per share. According to Refinitiv, this topped consensus projections of a loss of 7 cents per share on revenue of $161.2 million.
Advance Auto Parts: The automotive aftermarket parts business rose 4.4% after posting fourth-quarter earnings per share of $2.88, which exceeded the StreetAccount expectation of $2.41. Revenue was also above forecasts.