Stocks making the biggest premarket moves: Dish, Target, Zoom, Arconic and more

cnbc.com:

In this article

Check out the companies making the biggest moves in premarket trading:

Dish Network — The satellite company's shares fell almost 5% amid its multi-day service outage and double-downgrade from Bank of America. Dish shares are down 13.5% in 2023 amid a 61.8% drop during the past 12 months.

Target — The retailer gained 1.2% after reporting fiscal fourth-quarter earnings per share of $1.89, topping the $1.40 consensus of analysts polled by Refinitiv. Revenue also beat, but Target's full-year EPS guidance came in below expectations.

Arconic — Shares fell 3.5% following a downgrade to sell from neutral by Goldman Sachs. The firm cited an uncertain demand outlook in Europe.

Celsius Holdings — The energy-drink maker rose 4.2% after being upgraded to outperform from neutral by Credit Suisse. The firm said the distribution agreement with Pepsi is going well and the long-term potential is high.

Norwegian Cruise Line Holdings — Shares of the cruise company fell more than 5% in premarket trading Tuesday after Norwegian reported a wider-than-expected loss for the fourth quarter. The company lost an adjusted $1.04 per share on $1.52 billion of revenue. Analysts surveyed by FactSet's StreetAccount were expecting a loss of 86 cents per share on $1.50 billion of revenue. Norwegian's earnings guidance for 2023 also came in below expectations.

Zoom Video —The video communications company rallied 6.9% in the premarket following a top- and bottom-line beat for the fourth quarter. Full-year revenue guidance came in lighter than expected, but its earnings guidance topped estimates.

Dick's Sporting Goods — The sporting-good retailer slid 2.6% after being downgraded by Citi to neutral from buy. The Wall Street firm said it