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Pre-Market Trading: Lululemon, Duck Creek, Mastercard, Uber and More Showing Significant Movement

Lululemon's shares fell by more than 10% after the company lowered its gross margin guidance for the first quarter.

January 9, 2023
5 minutes
minute read

Lululemon's shares fell by more than 10% after the company lowered its gross margin guidance for the first quarter. Despite this, the company raised its net revenue guidance for the fourth quarter, expecting growth of 25% or more year-on-year.

Shares of Visa and Mastercard rose 1.1% and 1.7% respectively after Keybanc upgraded their ratings to overweight from sector weight.

Duck Creek, a provider of intelligence solutions for the insurance industry, will be taken private by Vista for $19 a share in cash, CNBC’s David Faber reported. The deal should be announced shortly, he said. Shares surged 39%.

Zillow's stock rose 4% after Bank of America upgraded it to "buy," citing the company's improved growth prospects despite a challenging macroeconomic environment.

Hologic, a women's diagnostics provider, reported fiscal first quarter revenue on Sunday that surpassed its most recent guidance and Wall Street analyst estimates. The company's shares rose 2.8% in premarket trading.

Energy stocks were on the rise premarket as oil prices increased. Marathon Oil, Halliburton, EOG Resources, and Hess all saw gains of more than 2%.

Shares of Bed, Bath & Beyond jumped more than 17% premarket after the retailer warned of its ability to continue as a going concern. Bed, Bath & Beyond last week sent shares plummeting with its warning.

Oracle's shares rose more than 1% in premarket trading following 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 above 20% in the next few years.

Uber shares rose 2.8% after the company was upgraded to "overweight" from "neutral" by Piper Sandler. The bank said that higher car prices will lead consumers to use Uber and other rideshare platforms more.

Nvidia's stock rose 1.6% in pre-market trading after the company was named a top pick by Wells Fargo analysts. The analysts said they see a positive data center product cycle materializing over the next few years.

Tesla shares rose 3.7% in premarket trading on Monday after the company's attorneys asked a California court to move a trial over the stock to Texas. The attorneys cited local negativity as the reason for the request.

Ferrari shares rallied more than 2% premarket after being named a top pick for 2023 by Bank of America. Analysts noted the automaker’s balanced strategy, resilient financial performance and conservative 2023 outlook.

Bryan Curtis
Eric Ng
John Liu
Editorial Board
Bryan Curtis
Adan Harris
Managing Editor
Cathy Hills
Associate Editor

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