Market Insider

Stocks making the biggest moves premarket: Beyond Meat, Barnes & Noble, DocuSign, Guess & more

Markets set to open higher amid growing trade hope

Check out the companies making headlines before the bell:

Beyond Meat – Beyond Meat reported an adjusted loss of 14 cents per share in its first report as a public company, smaller than the 15 cents a share loss that Wall Street had been anticipating. The plant-based burger maker saw revenue come in above estimates, and the company said it expected its sales to more than double this year.

Norwegian Cruise Line – Norwegian cut its full-year earnings per share outlook by 35 to 45 cents on an adjusted basis, due to the impact of new restrictions on cruise lines regarding travel to Cuba.

Barnes & Noble – The bookstore chain agreed to be acquired by funds advised by Elliott Advisers for $6.50 per share in cash. It had been reported Thursday that a deal was close.

DocuSign – DocuSign earned an adjusted 7 cents per share for its fiscal first quarter, 2 cents a share more than analysts had expected. The electronic signature technology provider's revenue came in above estimates, but investors appear concerned about a slowdown in the rate of growth in billings.

Zoom Video – Zoom earned an adjusted 3 cents per share for its first quarter, 2 cents a share above estimates. The video communications technology company's revenue also beat forecasts and Zoom gave better-than-expected current-quarter revenue guidance.

Guess – Guess lost 25 cents per share for its first quarter, 1 cent a share more than Wall Street had been anticipating. The apparel maker's revenue matched street forecasts, but Guess gave a full-year earnings forecast above current consensus.

Caesars Entertainment – The casino operator is near a deal to combine with rival casino operator Eldorado Resorts, according to people familiar with the matter who spoke to The Wall Street Journal.

Sanofi – Sanofi hired Novartis executive Paul Hudson as its new chief executive officer. He will replace the drugmaker's current CEO Olivier Brandcourt, who plans to retire in September.

AT&T – AT&T is mulling a plan to package its HBO and Cinemax movie channels and its Warner Brothers TV and movie library into a new streaming service, according to The Wall Street Journal. The service would cost between $16 and $17 per month.

IBM – IBM is planning to lay off about 1,700 workers, according to a person familiar with the matter who spoke to CNBC. An IBM spokesperson told CNBC that the tech giant is continuing to "reposition our team to align with our focus on high-value segments of the IT market."

Zumiez – Zumiez reported first-quarter profit of 3 cents per share, compared to Wall Street forecasts of a 9 cents per share loss. The action sports apparel maker also reported better-than-expected revenue for the quarter, with particular strength in the final two months of the quarter.

Garmin – The GPS device maker was upgraded to "neutral" from "underweight" at J.P. Morgan Securities, which said the stock's risk/reward profile is now more balanced following a 12% decline from its multiyear high in early April.

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