Stocks making the biggest moves premarket: DocuSign, Vail Resorts, Stitch Fix and others

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Check out the companies making headlines before the bell:

DocuSign (DOCU) – The electronic-signature technology company's stock plunged 26.1% in the premarket after its quarterly profit and revenue fell short of Wall Street forecasts. DocuSign had previously warned that a return to post-Covid working conditions could cut into its business.

Vail Resorts (MTN) – Vail Resorts rallied 6.7% in premarket trading after the resort operator posted better-than-expected quarterly results. Vail benefited from an easing of Covid-related restrictions and noted successful efforts to attract visitors outside of its peak skiing season.

Stitch Fix (SFIX) – Stitch Fix shares slumped 15.4% in premarket action after the online clothing styler posted a wider than expected quarterly loss and gave weaker than expected revenue guidance. Stitch Fix also said it would cut 330 jobs, about 4% of its total workforce.

Rent The Runway (RENT) – The fashion rental company posted a smaller-than-expected quarterly loss while its revenue came in above Wall Street forecasts. Sales doubled from a year earlier and Rent The Runway also issued an upbeat current-quarter revenue forecast. Shares jumped 8.2% in the premarket.

Illumina (ILMN) – The maker of gene-based therapies saw its shares decline 4.2% in the premarket after announcing the departure of Chief Financial Officer Sam Samad, who is taking the CFO role at Quest Diagnostics (DGX).

Netflix (NFLX) – Netflix slid 4.7% in premarket trading after Goldman Sachs downgraded the stock to «sell» from «neutral» and cut the price target to $186 per share from $265. Goldman said it was focusing on a number of factors, including an increased focus on profitability and lower investor tolerance for