Check out the companies making headlines premarket. Robinhood, the online brokerage, rose more than 3% after unveiling a $200 million deal to buy cryptocurrency exchange Bitstamp. The deal is expected to close in the first half of 2025. Artificial intelligence darling Nvidia traded 1.8% higher, riding on the momentum of Wednesday’s rally that pushed the stock’s market capitalization past $3 trillion. Goldman Sachs maintained a buy rating on the stock, calling it the “industry standard.” Lululemon — Shares of the athletic apparel retailer jumped 8.6% after first-quarter results beat analysts’ expectations. However, the company provided weak guidance for the second quarter as it battles colder temperatures in the Americas, its largest market. Five Below — Shares of the discounter fell 15.8% amid soft revenue forecasts for the current quarter. Five Below told investors it expected $830 million to $850 million, while analysts polled by LSEG had forecast $883 million. Revenue in the first quarter was also below expectations. Smartsheet – The workplace technology platform rose 14% after a stronger-than-expected first-quarter report. Smartsheet posted adjusted earnings of 32 cents per share and revenue of $263 million, while analysts polled by LSEG expected 27 cents per share and revenue of $258 million. Sprinklr — Business technology stocks fell 21.1% after weak guidance for the current quarter and full year. Sprinklr cut its expected full-year revenue range to $779 million to $781 million, below analysts’ consensus estimate of $805.4 million, according to FactSet. Sealed Air, a packaging solutions stock, rose 3% following Mizuho’s move to neutral. Mizuho said there was light at the end of the tunnel for investors as volume reaches an inflection point. StoneCo – Fintech shares rose 2.6% after JPMorgan upgraded its stock rating from neutral to overweight. The bank linked its optimistic outlook to potential earnings per share and discounted valuation. Ultragenyx Pharmaceutical – Biopharma stocks rose nearly 4% after Goldman Sachs upgraded its rating to neutral. The bank said the shares have upside potential “in a variety of rare diseases” and is confident in the effectiveness of the firm’s monoclonal antibody treatments for brittle bone diseases. eBay – Shares of the e-commerce company gained 1% after Citi upgraded its rating to neutral following a rating suspension period. The bank noted eBay’s improved growth prospects, as well as a return to margin expansion and earnings growth potential from expected buybacks. CH Robinson Worldwide – Logistics shares rose 1.2% after UBS upgraded its rating to neutral from sell. UBS said the company’s initiatives should help both reduce costs and improve execution. Rubrik – Data management shares rose 2.9% after BMO Capital Markets upgraded its rating to higher. BMO said the stock has a more favorable risk-reward profile after the recent sell-off. Viridian Therapeutics – Shares of the biopharmaceutical company rose 2.5% after Goldman Sachs issued a buy rating. Goldman pointed to its drug supply line as a reason for the excitement. Carvana — Shares rose 3.6% after Evercore ISI added the auto e-commerce company to its tactical leaderboard. Evercore’s ISI decision comes ahead of a competitive conference appearance, earnings call and inspection center tour later this month. Shopify — Shares of the e-commerce technology company fell 1.6% as MoffettNathanson downgraded its rating from buy to neutral. Moffett-Nathanson warned that there would be several “unfavorable” changes in sales and marketing intensity in the near future. Fluence Energy shares fell 1.6% after Guggenheim downgraded the energy storage stock to neutral from buy. Guggenheim said the shares are now “fairly valued” after recent gains. — CNBC’s Jesse Pound, Michelle Fox and Lisa Kailai Han contributed reporting.
