Dish Networks exhibiting at CES 2016 in Las Vegas.
Justin Solomon | CNBC
Check out the companies making the biggest strides in premarket trading:
Dish Network – Shares of the satellite company fell nearly 5% amid the multi-day service outage and Bank of America’s double downgrade. Dish shares are down 13.5% in 2023, amid a 61.8% decline over the past 12 months.
Target — The retailer gained 1.2% after reporting fiscal fourth-quarter earnings per share of $1.89, beating the consensus of $1.40 from analysts surveyed by Refinitiv. Sales also outperformed, but Target’s full-year earnings forecast fell short of expectations.
Arconic – Shares fell 3.5% after Goldman Sachs downgraded to sell neutral. The company cited an uncertain outlook for demand in Europe.
Celsius Holdings — The energy drink maker rose 4.2% after being upgraded from neutral to outperforming by Credit Suisse. The company said the distribution deal with Pepsi is going well and the long-term potential is great.
Norwegian Cruise Line Holdings – Shares of the cruise line fell more than 5% in premarket trading on Tuesday after Norwegian reported a larger-than-expected fourth-quarter loss. The company lost an adjusted $1.04 per share on $1.52 billion in revenue. Analysts polled by FactSet’s StreetAccount expected a loss of 86 cents per share on revenue of $1.50 billion. Norwegian’s profit expectations for 2023 were also below expectations.
Zoom Video —The video communications company posted a 6.9% increase in the premarket after both top and bottom line gains in the fourth quarter. Full-year revenue guidance was lighter than expected, but earnings guidance beat estimates.
Dick’s Sporting Goods — The sporting goods seller fell 2.6% after being downgraded from buying to neutral by Citi. The Wall Street firm said it expects gross margin pressure to continue in the near term.
Workday – Human resources software fell 2.4% after Q1 revenue guidance came in lighter than expected. However, according to Refinitv, it beat estimates for fourth-quarter revenue and profit.
Hims & Hers Health — Telehealth stock rose more than 9% after Hims & Hers Health reported quarterly results that beat estimates on the top and bottom lines. The company posted a loss of 5 cents per share on sales of $167.2 million. That beat consensus estimates of a loss of 7 cents per share on revenue of $161.2 million, according to Refinitiv.
Advance Auto Parts — The automotive aftermarket parts company gained 4.4% after reporting fourth-quarter earnings per share of $2.88, giving it a StreetAccount estimate of $2.41 surpassed. Sales also exceeded expectations.
– CNBC’s Hakyung Kim, Alex Harring, Sarah Min, Jesse Pound and Michael Bloom contributed to the reporting.
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