Stocks making the biggest moves before the bell: American Express, Domino's, Coinbase and more

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Check out the companies making headlines in premarket trading.

Target — The retailer gained 0.6% after announcing it would increase its dividend by 1.9%, or 2 cents, to $1.10 per share.

Cognyte Software — Shares rose 5.6% in the premarket following the software company's quarterly report. Cognyte posted a loss of 23 cents per share excluding items, slightly larger than the 22 cent consensus estimate of analysts polled by FactSet. But revenue came in stronger than expected, with Cognyte reporting $73.4 million against Wall Street's $71.5 million forecast.

Aldeyra Therapeutics — The biotech stock added 10% after Aldeyra announced it say statistical significance in the primary and all secondary endpoints for a drug that could be used for a type of eye inflammation.

American Express — Shares of the credit card company dipped 2% in premarket trading after Citi warned that credit card spending trends have slowed. Citi opened a negative catalyst watch for American Express, warning that travel and entertainment categories are slowing more sharply than other categories.

Coinbase — The crypto platform dropped 4.5% after Mizuho questioned if traders were moving to Robinhood, which was down 2.1% before the bell. Mizuho reiterated its underperform rating in a note to clients.

Domino's Pizza — The pizza chain rose 2.1% following an upgrade to buy from hold by Stifel. The firm noted delivery sales will continue to stabilize while carry-out sales grow in the next 12 months.

SoFi — Shares slid 4% after Oppenheimer downgraded the financial technology stock to perform from outperform. Despite staying bullish long term, Oppenheimer said the downgrade came following a period of the stock price seeing appreciation much