Stocks making the biggest moves premarket: Chegg, Baidu, Bed Bath & Beyond, Hertz and more

cnbc.com:

Check out the companies making headlines before the bell:

Chegg — Shares dropped 22.7% following its earnings report Monday. The company gave first-quarter and full-year revenue guidance that was below analyst expectations, according to Refinitiv. Chegg noted subscriber growth challenges and concerns related to the health of the broader economy.

Baidu — Shares surged more than 13% after Baidu said it would launch its own artificial intelligence chatbot that will be called «Ernie Bot» in English.

Bed Bath & Beyond — Shares plunged 30% after Bed Bath & Beyond announced a public offering to raise roughly $1 billion.

Oak Street Health — Oak Street Health shares surged more than 36% after The Wall Street Journal reported CVS Health is nearing a $10.5 billion deal for the primary care provider. CVS shares were little changed.

Hertz — Shares gained more than 4% after Hertz reported results that beat earnings per share and revenue expectations, according to FactSet.

ZoomInfo Technologies — Shares fell more than 11% after ZoomInfo Technologies' latest earnings results. The software company beat on the top and bottom lines, according to FactSet. However, it posted a lackluster revenue outlook for the first quarter and full year.

Spirit Airlines — The airline stock jumped 3% in premarket after the company posted stronger-than-expected fourth-quarter earnings. Spirit Airlines reported earnings of 12 cents per share excluding items, 9 cents higher than the analysts' estimate, according to FactSet.

Skyworks Solutions — Shares added more than 2% after Skyworks Solutions announced a $2 billion share buyback program. The announcement helped investors overlook an slight earnings miss in the semiconductor firm's most recent quarter.

Activ