Stocks Making the Greatest Movements Premarket 01/09

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Last Updated on January 9, 2023 by Bitfinsider

Lululemon — After Lululemon cut its gross margin forecast for the first quarter, the stock of the Canadian clothing company fell by more than 10%. The “athleisure” chain raised its net revenue forecast for the fourth quarter and now expects year-over-year growth of at least 25%.

Duck Creek — David Faber of CNBC said that Vista will buy the company that gives intelligence solutions to the insurance industry for $19 per share in cash. He said that the deal should be made public soon. Shares went up by 39%.

Zillow: Shares of the real estate marketplace company went up 4% after Bank of America changed the stock rating from hold to buy, citing the company’s better growth outlook in spite of a tough macroeconomic environment.

Energy stocks — Several energy stocks went up before the market opened because oil prices went up. More than 2% went up for Marathon Oil, Halliburton, EOG Resources, and Hess.

Bed, Bath, and Beyond — Shares of the struggling store jumped more than 17% before the market opened. Bed, Bath & Beyond said last week that it might not be able to keep going as a business, which caused its shares to drop sharply.

Oracle — Shares of the software company went up more than 1% before the market opened after Piper Sandler changed their rating from neutral to overweight. In a note, the investment bank said that Oracle’s cloud business could grow by more than 20% each year over the next few years.

Uber — went up 2.8% after Piper Sandler changed the rating of the ride-sharing platform from neutral to overweight. The bank said that if car prices go up, more people will use Uber and other rideshare services.

Nvidia — The stock went up 1.6% before the market opened because Wells Fargo analysts said it was one of their top picks. They said they expect a good data center product cycle to happen through 2023.

Tesla — Shares of Tesla went up 3.7% before the market opened on Monday. On Saturday, lawyers for Elon Musk asked a California court to move a trial over the company’s stock to Texas, saying that people in California were negative about the company.

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