Take a look at some of the biggest movers in the premarket:
Vroom (VRM) – Vroom stock jumped 11% in the premarket after it reported a smaller-than-expected loss for its latest quarter. The online used-car retailer's revenue beat estimates as demand surged. Consumers are turning to used cars as the global chip shortage crimps production of new vehicles. Vroom rival Shift (SFT) reported similarly upbeat results, and its shares rallied 8.1%.
Sonos (SONO) – Sonos earned 12 cents per share for its latest quarter, compared to forecasts of a 22 cents per share loss. The maker of speakers and other audio products also raised full-year sales guidance, saying it believes it can meet demand despite the global chip shortage. Shares jumped 11.9% in premarket trading.
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Alibaba (BABA) – The China-based e-commerce giant fell short of analysts' forecasts on the bottom line, but reported better-than-expected fiscal fourth-quarter revenue. The company also gave an upbeat revenue forecast for the current fiscal year.
Casper Sleep (CSPR) – Casper Sleep shares soared 6.3% in premarket trading after the maker of mattresses and other bedding products reported a smaller-than-expected quarterly loss and saw revenue exceed estimates as well. It also raised its full-year outlook due to what it calls "favorable business trends."
Canada Goose (GOOS) – Shares of the outdoor apparel maker surged 5.3% in premarket action after Canada Goose reported an unexpected quarterly profit. The company earned 1 cent per share, compared to forecasts of a 12 cents per share loss (all figures in Canadian currency). Revenue also beat forecasts amid a surge in online sales and strong demand from China.
Utz Brands (UTZ) – The snacks maker fell a penny a share shy of estimates, with quarterly earnings of 13 cents per share. Revenue was also short of forecasts, however Utz noted that its sales were impacted by February snowstorms and it issued an upbeat full-year outlook.
Boeing (BA) – Boeing received Federal Aviation Administration approval for its proposed fix to the electrical systems of some 737 Max jets. Boeing has issued service bulletins detailing the fix and said it should only take a day or two for airlines to implement.
Bumble (BMBL) – Bumble surprised analysts with a first quarter profit, compared to expectations of a quarterly loss. The dating service operator also reported better-than-expected revenue. Bumble issued upbeat current-quarter revenue guidance, with more people returning to dating as the pandemic recedes. Despite the upbeat numbers, Bumble shares fell 1.2% in premarket trading.
BJ's Wholesale (BJ) – The warehouse retailer was upgraded to "overweight" from "neutral" at J.P. Morgan Securities, which said it is more optimistic about BJ's upcoming earnings report than most on the Street. The firm also said it sees stimulus checks giving a boost to membership renewal rates. BJ's shares rose 1.8% in premarket trading.
ThredUp (TDUP) – ThredUp lost 17 cents per share for the first quarter, one cent a share wider than analysts had been predicting. Revenue came in ahead of expectations for the secondhand apparel retailer, but it also warned of a potential impact from constrained consumer clothing budgets. Shares tumbled 8.9% in premarket action.
Poshmark (POSH) – Poshmark stock tanked 12.5% in the premarket, despite upbeat first-quarter results. The company reported a loss of 33 cents per share, smaller than the 42 cents a share loss expected by Wall Street analysts. The online retailer of used luxury goods also saw revenue come in above analyst forecasts.
Lowe's (LOW) – Lowe's was upgraded to "outperform" from "perform" at Oppenheimer, which pointed to the home improvement retailer's discounted valuation compared to that of rival Home Depot (HD).