Take a look at some of the biggest movers in the premarket:
(RXT) – Rackspace beat estimates by a penny a share, with quarterly earnings of 25 cents per share. The cloud computing company’s revenue also topped Wall Street forecasts. It was Rackspace’s eighth consecutive quarter of revenue growth, and the company said it was well-positioned in a booming market. its shares surged 8.3% in the premarket.
(AXON) – Axon soared 23.5 % in premarket trading, after the maker of Tasers, body cameras and other public safety equipment reported much-better-than-expected sales and revenue for its latest quarter.
(RPRX) – Royalty Pharma rallied 7.8% in premarket trading, following news that (BRK.B) took a new $475 million stake in the drug royalty purchaser.
(HD) – The home improvement retailer , 52 cents a share above estimates. Revenue also beat Street forecasts. Comparable-store sales were up a better-than-expected 6.1%, driven by demand for household tools and building materials. The stock rose 1.1% in the premarket.
(WMT) – Walmart jumped 2% in premarket trading after beating on the top and bottom lines, and raising its full-year forecast. Walmart earned $1.45 per share for the third quarter, 5 cents a share above estimates, with comparable-store sales topping forecasts as well.
(AAP) – Advance Auto earned $3.21 per share for its latest quarter, beating the $2.87 a share consensus estimate. The auto parts retailer beat on revenue and other key metrics. Advance Auto said it was seeing higher-than-expected inflation headwinds, however, and the stock fell 2% in premarket action.
(DEO) – Diageo rose 2.4% in premarket trading after it issued stronger-than-expected profit and sales guidance for 2023 through 2025, reversing the spirits maker’s prior stance of abandoning specific numerical guidance.
(TSLA) – Tesla CEO Elon Musk sold $930 million in shares to meet tax obligations after exercising options to buy 2.1 million shares. Separately, (JPM) is suing Tesla, accusing it of .
(ALV) – Autoliv rallied 4.4% in the premarket, following the announcement of a new stock repurchase program of up to $1.5 billion. The maker of automotive safety systems also updated its growth target, expecting 4% to 6% growth per year in 2024 and beyond.
(LCID) – Lucid surged 5.8% in premarket action after the electric vehicle maker reported more than 17,000 reservations for its “Air” sedan, up from 13,000 in the prior quarter. Lucid also confirmed its 2022 production targets.
(WDAY) – The human resources software company added 2.4% in the premarket after UBS upgraded the stock to “buy” from “neutral,” on indications of stronger HR systems spending.