Take a look at some of the biggest premarket changes:
Delta Air Lines (DAL), United Airlines (UAL), Southwest Airlines (LUV) – Delta shares rose 3.7% in premarket, while United jumped 3.9% and Southwest added 2.9% . All three airlines raised their earnings forecasts, saying air travel is rebounding from a previous downturn caused by the spread of the micro-variant of Covid.
Coupa Software (COUP) — Coupa fell 29.5% in premarket trading after the business software company posted a much weaker-than-expected full-year guidance, although Coupa posted better-than-expected earnings and revenue results. for the last quarter.
GitLab (GTLB) – Gitlab shares rose 8.9% in premarket trading after the operating platform company reported upbeat results for the latest quarter and posted a better-than-expected outlook.
Toyota Motor (TM) – Toyota announced an additional production cut due to semiconductor shortages days after cutting its domestic production target by as much as 20%. The latest announcement will affect the production of about 14,000 minivans. Toyota added 2.8% in premarket trading.
Moderna (MRNA) – Shares of the vaccine maker rose 4.3% in premarket trading after gaining 11.9% on Monday following a spike in Covid cases in China’s Shenzhen region.
Alibaba (BABA) – Alibaba is down 4.7% in premarket trading after falling over the past three days and losing more than 27% over the past nine trading sessions. The Chinese e-commerce giant is under pressure from both fears of a Covid-related economic slowdown in China and the threat of a possible U.S. delisting. These concerns have also affected other US-listed Chinese stocks such as JD.com (JD) and Bidu (BIDU). JD.com fell 3.8% and Bidu fell 5.1%.
Vimeo (VMEO) — Vimeo said its revenue grew 23% year-over-year in February, with the video software company also reporting an 8% increase in subscribers and a 13% increase in average revenue per user. . Vimeo added 2.5% in premarket.
Hormel (HRL) – Goldman Sachs downgraded the food maker’s stock from Neutral to Sell, noting its recent outperformance over the Staples group and citing concerns about the impact of rising inflationary pressures. Hormel shares shed 1.5% in premarket trading.
Peloton (PTON) – Shares of the fitness equipment maker rose 1.5% in premarket trading after Bernstein launched coverage from an “outperform” rating, noting Peloton’s healthy underlying performance, new management and a recent drop in share prices.