Stocks making the biggest moves premarket: Activision Blizzard, Chipotle, First Republic Bank & more

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Check out the companies making headlines before the bell on Wednesday.

Enphase Energy — The solar inverter company slid 16% after reporting disappointing revenue guidance for the second quarter. The company said Tuesday its upcoming quarterly revenue will range from $700 to $750 million, compared to the expected $765.2 million from analysts surveyed by StreetAccount. Enphase reported adjusted earnings of $1.37 per share on $726 million in revenue, beating StreetAccount forecasts of earnings of $1.21 per share on $724.4 in revenue. Shares of rival Solaredge Technologies dropped 5.8%.

Boeing — Boeing shares rose 3.7% in premarket trading after the company posted its latest quarterly results and said it would increase production of 737 Max planes later this year despite a production issue. The company reported an adjusted loss of $1.27 per share and $17.92 billion in revenue. Analysts polled by Refinitiv anticipated a loss per share of $1.07 on $17.57 billion in revenue. 

Activision Blizzard — Activision Blizzard shares dropped about 10.4% in the premarket after a UK regulator blocked Microsoft's purchase of the video game publisher. «The final decision to prevent the deal comes after Microsoft's proposed solution failed to effectively address the concerns in the cloud gaming sector,» wrote the UK's Competition and Markets Authority.

First Republic Bank — The battered regional bank stock dropped 10% before the bell, with the potential to again weigh on the broader banking sector. First Republic on Monday reported that its deposits dropped 40% to $104.5 billion in the first quarter, and the stock lost nearly half its value Tuesday. 

PacWest Bancorp — Shares jumped 14% in early morning trading after PacWest