Stocks making the biggest moves before the bell: Robinhood, Nvidia, Lululemon, Five Below and more

Stay updated on the companies making waves in the premarket trading scene:

Robinhood

— The digital brokerage surged over 3% following the announcement of a $200 million agreement to acquire cryptocurrency exchange Bitstamp. The acquisition is anticipated to conclude in the first half of 2025.

Nvidia

— The AI powerhouse saw a 1.8% increase as the momentum from Wednesday’s rally continued, pushing its market cap beyond $3 trillion. Goldman Sachs maintained its buy rating, hailing it as the “industry benchmark.”

Lululemon

— The fitness fashion retailer surged 8.6% after outperforming analyst expectations in its first-quarter results. However, facing a slowdown in its largest market, the Americas, it projected a softer second-quarter outlook.

Five Below

— The budget retailer declined 15.8% based on a weaker revenue forecast for the current quarter. The projected revenue stands between $830 million and $850 million, falling short of LSEG’s predicted $883 million.

Smartsheet

— The workspace tech platform saw a 14% increase following an impressive first-quarter report. It reported adjusted earnings of 32 cents per share and $263 million in revenue, surpassing LSEG’s expectations.

Sprinklr

— The business tech stock fell 21.1% following disappointing guidance for the current quarter and the full financial year. The revised revenue forecast was set between $779 million and $781 million, under the consensus forecast of $805.4 million, according to FactSet.

Sealed Air

— The packaging solutions stock increased 3% following an upgrade from neutral to buy by Mizuho. The upgrade signals a promising future for investors as volume reaches a turning point.

StoneCo

— The fintech stock went up by 2.6% following an upgrade from neutral to overweight by JPMorgan. The bank’s optimistic outlook is based on EPS potential and discounted valuations.

Ultragenyx Pharmaceutical

— The biopharma stock added almost 4% after an upgrade from neutral to buy by Goldman Sachs. Goldman anticipates potential growth due to “the diverse rare disease pipeline” and has confidence in the firm’s treatment for brittle bone disease.

eBay

— Shares of the e-commerce giant rose 1% after an upgrade from neutral to buy at Citi. The bank’s optimism is based on eBay’s improved growth outlook, anticipated margin expansion, and potential earnings upside from anticipated buybacks.

CH Robinson Worldwide

— The logistics stock increased by 1.2% following a UBS upgrade from sell to neutral. UBS believes the company’s plans will support cost reduction and better execution.

Rubrik

— The data management stock gained 2.9% after a BMO Capital Markets upgrade to outperform. BMO noted that the shares have a more favorable risk-to-reward ratio after the recent sell-off.

Viridian Therapeutics

— The biopharma stock grew 2.5% following Goldman Sachs’ initiation of a buy rating. Goldman’s excitement stems from the company’s drug pipeline.

Carvana

— The car e-commerce company’s shares surged 3.6% after being added to Evercore ISI’s tactical outperform list. This move came ahead of Carvana’s participation in an upcoming competitor conference, an earnings report, and a facility tour this month.

Shopify

— The e-commerce tech stock decreased 1.6% following a MoffettNathanson downgrade from buy to neutral. The firm warned of several “unfavourable” changes to sales and marketing intensity in the near term.

Fluence Energy

— Shares dipped 1.6% after a downgrade from buy to neutral by Guggenheim. The firm deemed the shares “fairly valued” after a recent surge.

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Stocks making the biggest moves before the bell: Robinhood, Nvidia, Lululemon, Five Below and more

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