Stock Market

Stocks making the biggest moves premarket: DocuSign, Tesla, RH and more

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Check out the companies making headlines before the bell.

DocuSign — Shares of the electronic signature company surged 16.4% after DocuSign’s quarterly numbers beat Wall Street expectations. DocuSign also shared revenue guidance for the third quarter above expectations and an outlook for the full year that fell in line with estimates.

Zscaler — Zscaler soared 14.1% after posting strong results for the recent quarter. The cloud security company reported adjusted earnings of 25 cents a share on $318 million in revenue. Analysts surveyed by Refinitiv had anticipated earnings of 20 cents a share on revenues of $305 million.

RH — The luxury home furnishing retailer’s stock fell 1% on the back of disappointing revenue guidance. RH expects third-quarter revenue to decline between 15% and 18%, more than a StreetAccount forecast for a 10.7% drop.

Virgin Galactic — Shares of the space tourism company slipped 1.9% after Bernstein downgraded the stock to underperform, citing declining confidence in Virgin Galactic’s business as it burns through cash and delays flights.

Tesla — Tesla shares rose 1.3% in the premarket following news that the electric vehicle maker is considering building a lithium refinery for EV battery production in Texas this year, according to an application filed with the Texas Comptroller’s Office.

Navient — Shares slipped 2.1% after Barclays downgraded the student loan servicer’s stock to equal weight. The firm said President Joe Biden’s debt forgiveness plan could hurt Navient’s earnings going forward.

Regeneron — Regeneron’s stock moved about 1% higher in the premarket after Morgan Stanley upgraded shares to overweight following positive results from its eye drug trial. It comes a day after the stock soared nearly 19% on the back of those results.

Zumiez — Shares of the clothing store company fell 13% in the premarket after disappointing quarterly results. Zumiez earned 16 cents per share, below a StreetAccount estimate of 47 cents per share. The company’s gross margin was also below expectations.

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