Stocks making the biggest moves premarket: Under Armour, Cigna, DraftKings and others

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Check out the companies making headlines before the bell:

Under Armour (UAA) – The athletic apparel maker posted an adjusted first-quarter loss of 1 cent per share, compared with a profit estimate of 6 cents per share. Under Armour also issued a weaker-than-expected outlook for its full-year profit as it absorbs the impact of higher costs and supply chain disruptions. Under Armour plunged 12.5% in premarket trading.

Cigna (CI) – The insurance company reported an adjusted quarterly profit of $6.01 per share, compared with a $5.18 consensus estimate, and revenue was also above analyst forecasts. Cigna's results were boosted by strong growth in its pharmacy benefits management business, among other factors.

DraftKings (DKNG) – DraftKings rallied 9.8% in premarket action following its quarterly results. The sports betting firm reported a loss for the quarter but revenue was better than expected with increases in monthly unique paying customers and average revenue per customer. DraftKings also raised its full-year revenue guidance.

Shake Shack (SHAK) – Shake Shack fell 2.8% in premarket trading despite a narrower-than-expected quarterly loss and revenue that beat Wall Street forecasts. The restaurant chain issued a lighter-than-expected outlook as it deals with rising costs for beef, chicken and other commodities.

Block (SQ) – Block surged 5% in the premarket, despite both profit and revenue missing analyst estimates. The fintech firm's operating earnings exceeded forecasts, and it said it had not seen any deterioration in consumer spending.

Virgin Galactic (SPCE) – Virgin Galactic slid 4.9% in premarket trading after the company said it would delay the launch of its commercial space flight service until the