Stocks making the biggest moves premarket: TLRY, LULU, AVGO, C
Check out the companies making headlines before the bell. Tilray Brands — The cannabis stock surged 28% after The Washington Post reported that the Trump administration was looking to cut federal restrictions on marijuana. The Amplify Alternative Harvest ETF (MJ) also traded 20% higher. Lululemon — The athleisure brand jumped 9.4% after CEO Calvin McDonald announced his departure . The retailer also beat Wall Street expectations on both lines. RH — The home furnishings firm rose 3% after it reported mixed third-quarter results. The company reported $884 million in revenue, coming in line with an LSEG consensus estimate. However, it softened its fourth-quarter EBITDA margin and revenue forecasts. Citigroup — The banking giant rose more than 1% after receiving an upgrade to overweight from JPMorgan. “We expect Citi to benefit relatively more from a solid economy and strong markets-related activity due to its concentration of revenues,” JPMorgan analysts wrote. Costco — Shares dipped 0.2% even after Costco topped earnings and revenue expectations in its fiscal first quarter. The company posted per-share earnings of $4.50, more than the $4.27 expected by analysts polled by LSEG. Revenue of $67.31 billion exceeded the forecast $67.14 billion. The stock is down more than 3% this year. Broadcom — Investors’ concerns over artificial intelligence firms continued to swirl, pushing Broadcom’s stock down 6%, despite its posting on Thursday of better-than-expected financial results for the fourth quarter. The semiconductor company booked $1.95 per share, excluding some items, on revenues of $18.02 billion versus analysts’ estimates of $1.86 per share on revenues of $17.49 billion, per LSEG data. The semiconductor firm also raised its first-quarter revenue forecast to $19.1 billion from $18.27 billion, in addition to increasing dividends to 65 cents per share from 59 cents per share. Fermi — Shares plunged 33% after the energy and hyperscale development company reported losing a $150 million funding deal with its Matador power grid’s first potential tenant. The grid would provide 11 gigawatts of support to fast-growing AI data center complexes, eliminating their reliance on already strained public power grids. — CNBC’s Fred Imbert, Sarah Min and Alex Harring contributed reporting.
