Stocks making the biggest moves premarket: AMD, Dollar General, Rivian, GameStop, Chewy and more

Published Thu, Dec 7 20238:07 AM ESTUpdated Thu, Dec 7 20238:19 AM EST

Check out the companies making headlines in premarket trading. Sprinklr — The software company plummeted nearly 28% after its fiscal 2025 sales guidance disappointed investors. BTIG downgraded the stock to neutral following the results over concerns on topline growth. Take-Two Interactive — Shares of the video game company slipped roughly 2% after a downgrade to neutral from Bank of America on Thursday, with analyst Omar Dessouky proclaiming the stock is in a "holding pattern" until the 2025 release of Grand Theft Auto VI. GameStop — GameStop shares dropped 8% after the video game retailer posted its latest quarterly figures. The company reported a loss of 1 cent per share on revenue of $1.08 billion. However, it wasn't clear if that wasn't comparable to LSEG estimates. Chewy — Shares of the pet care e-commerce company lost 10% on the back of disapopointing results for the third quarter. Chewy lost 8 cents per share on revenue of $2.74 billion. Analysts polled by LSEG expected a loss of 6 cents per share on revenue of $2.75 billion. The company's fourth-quarter revenue guidance was also disappointing. Rivian — Shares added 2.6% after Stifel initiated coverage of the electric vehicle company with a buy rating. The investment bank thinks industry headwinds will abate over the next few years and pointed to Amazon's agreement to buy 10,000 vehicles from Rivian as a catalyst for the stock. Dollar General — The discount retailer added 3.3% in premarket trading after posting third-quarter results that beat expectations. The company also stood by its full year earnings guidance as well as forecasts for revenue growth and comparable store sales. The Duckhorn Portfolio — Shares fell more than 9% following lower-than-expected fiscal first-quarter results. Bank of America downgraded the wine stock to neutral on the back of the report and asserted that "there appears to be little reason to be bullish on NAPA in the near/medium term." Q2 Holdings — The virtual banking platform company added about 3% following an upgrade to overweight from Stephens, with analyst Charles Nabhan asserting the firm has "transitioned from a hyper-revenue growth to a margin expansion story." Equinor ASA — Shares of the energy company ticked up 2.4% on the heels of an upgrade to buy from Bank of America. Analyst Christopher Kuplent noted the company's "financial framework offers more resilience to its shareholder distributions than its share price gives it credit for." Advanced Micro Devices — Shares of the chipmaker rose 2% in premarket trading as investors digested the details of the new Instinct MI300X product that AMD unveiled on Wednesday afternoon. The chip is designed to take advantage of the boom in demand for computing power from artificial intelligence. — CNBC's Michelle Fox and Jesse Pound contributed reporting.