Stocks making the biggest moves premarket: Apple, CarMax, Bed Bath & Beyond and more

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Check out the companies making headlines before the bell:

Apple (AAPL) – Apple lost 2.2% in the premarket after BofA Securities downgraded it to neutral from buy. BofA said Apple has held up relatively well in a down market, but it expects a negative impact on the company from weakening consumer demand.

CarMax (KMX) – CarMax shares slumped 12.1% in premarket trading after the auto retailer missed estimates on both the top and bottom lines for its latest quarter. CarMax said «affordability challenges» led to a sharp drop in sales in the final months of the quarter.

Bed Bath & Beyond (BBBY) – The housewares retailer posted a wider-than-expected quarterly loss and sales that fell short of consensus. Gross margins fell as the company moved to clear out excess inventory, and the stock declined 5.5% in the premarket.

Rite Aid (RAD) – Rite Aid posted a smaller-than-expected loss for its latest quarter and the drug store operator's revenue was slightly above analyst forecasts. However, Rite Aid cut its adjusted earnings guidance range for the full year, and its shares tumbled 14.2% in premarket action.

Vail Resorts (MTN) – The resort operator's shares rallied 4.1% in premarket trading after reporting a smaller-than-expected quarterly loss and revenue that beat analyst estimates. Vail said it is seeing strong demand for ski season passes and full-year sales that have rebounded past pre-pandemic levels.

MillerKnoll (MLKN) – MillerKnoll fell 7.3% in the premarket after its quarterly profit beat analyst estimates, although revenue fell short. The office furniture maker noted a tough macroeconomic environment and announced various steps to improve near-term profit and cash flow, including reduced spending and a