Stock Market

Stocks making the biggest premarket moves: CrowdStrike, Occidental Petroleum, Tesla and more

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CrowdStrike IPO at the Nasdaq exchange June 12, 2019.
Source: Nasdaq

Here are the stocks making notable moves in premarket trading on Wednesday, March 8.

CrowdStrike — Shares of the cybersecurity firm climbed more than 6% in premarket trading after a stronger-than-expected report for the fourth quarter. CrowdStrike generated 47 cents in earnings per share on $637 million of revenue. Analysts surveyed by Refinitiv had penciled in 43 cents on $625 million in revenue. Free cash flow rose above $200 million for the quarter.

Occidental Petroleum — The energy stock climbed nearly 3% in premarket trading after a new regulatory filing showed Warren Buffett’s Berkshire Hathaway added to its already large stake in the company over the past trading sessions. The Omaha-based conglomerate bought nearly 5.8 million shares of the oil company in a few separate trades on Friday, Monday and Tuesday, marking the first time the “Oracle of Omaha” hiked his bet since September.

Stitch Fix — Shares of the apparel company slid more than 10% after Stitch Fix reported a wider-than-expected loss for its second quarter. The company lost 58 cents per share, while analysts surveyed by Refinitiv had been expecting a loss of 34 cents per share. Stitch Fix did report its first quarter of positive free cash flow in more than a year.

Tesla — Shares of the automaker fell less than 1% in premarket trading after Tesla was downgraded to hold from buy at Berenberg. The investment frim said there is “less room for disappointment” after a hot start to the year for Tesla’s shares.

Maxeon Solar Technologies — Shares of the Singapore-based solar panel company jumped nearly 15% in premarket trading after the company’s fourth-quarter report. While Maxeon’s loss per share was larger than expected, revenue topped analyst estimates, according to StreetAccount, as did adjusted EBITDA margins.

Cricut — Shares of the smart cutting machine company jumped more than 7% after Cricut reported more than 20% growth in users and paid subscribers during the fourth quarter. Cricut’s revenue was down year over year, but its gross margin expanded.

Atlantica Sustainable Infrastructure — Shares of the U.K.-based infrastructure firm added 2% following an upgrade from Bank of America. The investment firm said Atlantica is doing a strategic review that could unlock value for shareholders.

Nordstrom — The retail stock rose more than 2% following an upgrade to buy from Argus Research. The investment firm said Nordstrom has divested from the unprofitable parts of its business and now has healthy upside.

— CNBC’s Yun Li contributed to this report.

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