Stocks making the biggest moves premarket: Tapestry, WeWork, Rivian and others

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Check out the companies making headlines before the bell:

Tapestry (TPR) – The company behind the Coach and Kate Spade brands beat top and bottom line estimates for its latest quarter, but cut its full-year forecast for the impact of the strong U.S. dollar and China’s Covid-19 restrictions. Tapestry slid 2% in premarket trading.

Nio (NIO) – The China-based electric car maker posted a wider-than-expected quarterly loss, but said it expected deliveries to nearly double in the current quarter from a year ago. Nio shares jumped 5.5% in premarket trading.

WeWork (WE) – The office-sharing company’s stock fell 1.7% in the premarket after it reported a wider-than-expected quarterly loss. WeWork also plans to exit about 40 underperforming locations this month.

Six Flags (SIX) – The theme park operator’s stock initially dipped in premarket trading after it missed top and bottom line estimates for its latest quarter. However, it rebounded to a 2.9% gain after announcing an agreement with investment firm H Partners that raised the cap on H Partners’ stake in the company to 19.9% from 14.9%.

Rivian (RIVN) – Rivian rallied 8.2% in off-hours trading after the electric vehicle maker reported a narrower-than-expected quarterly loss and kept its production schedule intact, even in the face of supply chain issues.

Dutch Bros (BROS) – Dutch Bros stock jumped 3.8% in the premarket after the operator of hand-crafted beverage shops reported better-than-expected profit and revenue for its latest quarter. The company also raised its full-year revenue outlook.

AstraZeneca (AZN) – AstraZeneca gained 4.8% in premarket trading after the drug maker reported upbeat quarterly results and raised its full-year profit forecast. AstraZeneca’s results got a boost from strong sales of its cancer drugs.

Bumble (BMBL) – Bumble slumped 14% in premarket action after issuing a weak current-quarter revenue forecast. The dating service operator said its users are renewing subscriptions at a slower rate as consumers cut back on discretionary spending in the face of inflation.

Fair Isaac (FICO) – Fair Isaac staged a 10.4% rally in the premarket after its quarterly earnings beat analyst estimates and revenue grew in both its credit score and software units. The company, known for FICO credit scores, also gave an upbeat full-year forecast.

ZipRecruiter (ZIP) – ZipRecruiter surged 12.6% in premarket trading after the online jobs site operator posted better-than-expected quarterly results and raised its full-year forecast. ZipRecruiter also announced a $200 million increase in its share repurchase program.

Sophie Tremblay

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