Stocks making the biggest moves in the premarket: Airlines, Coupa Software, GitLab and more

cnbc.com:

Take a look at some of the biggest movers in the premarket:

Delta Air Lines (DAL), United Airlines (UAL), Southwest Airlines (LUV) – Delta rallied 3.7% in the premarket while United jumped 3.9% and Southwest added 2.9%. All three airlines raised their revenue outlooks, saying air travel is rebounding from the earlier slump induced by the spread of the Covid omicron variant.

Coupa Software (COUP) – Coupa plunged 29.5% in premarket trading after the business software company issued a much weaker-than-expected full-year outlook, although Coupa reported better-than-expected profit and revenue results for its most recent quarter.

GitLab (GTLB) – Gitlab shares surged 8.9% in the premarket after the development operations platform company reported upbeat results for its latest quarter as well as issuing a better-than-expected outlook.

Toyota Motor (TM) – Toyota announced additional production cuts due to semiconductor shortages, a few days after cutting its domestic production target by as much as 20%. Production of about 14,000 minivans would be impacted by the latest announcement. Toyota gained 2.8% in the premarket.

Moderna (MRNA) – The vaccine maker's stock rallied 4.3% in premarket action, after rising 11.9% Monday following the surge in Covid cases in China's Shenzhen region.

Alibaba (BABA) – Alibaba dropped 4.7% in premarket trading after falling for the past three days and losing more than 27% over the past nine trading sessions. The Chinese e-commerce giant is under pressure due to both fears of a Covid-related economic slowdown in China and the threat of a possible U.S. de-listing. Those fears have hit other China stocks that list in the U.S., such as JD.com (JD) and Bidu (BIDU). JD.com fell 3.8% while Bidu sank 5.1%.