US Premarket: Lululemon, BioNTech and other stocks making biggest moves

Lululemon (LULU)

Lululemon climbed 7.4% in premarket trading despite a
weak quarterly report and revenue below the forecast. The athletic apparel
company reported adjusted quarterly earnings of $3.37 per share, 9 cents above
expectations, and issued positive guidance for 2022. The company also announced
a $1 billion share buyback program.

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BioNTech (BNTX)

The drug maker’s shares slipped 5.9% in the premarket after
reporting significantly higher revenue and profit than expected for the fourth
quarter. BioNTech also reaffirmed its previous vaccine revenue guidance for
2022.

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RH (RH)

The high-end furniture retailer slid 2.8% in premarket
action after reporting lower-than-expected revenue for the fourth quarter, but
profit stood slightly above the market estimate. It also announced a 3-for-1
stock split.

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Micron Technology (MU)

The computer chip maker’s stock jumped 4.1% in premarket trading after issuing a positive revenue forecast for the current quarter.
Micron reported an adjusted quarterly profit of $2.14 per share, 17 cents above
forecasts. It also reported revenue higher than expectations as data center and
smartphone chip sales showed strong growth.

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Five Below (FIVE)

The discount retailer’s stock fell 3.4% in premarket
trading after a mixed quarterly report. With $2.49 earnings per share, Five
Below beat estimates by a penny, but both revenue and comparable sales were
lower than expected.

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Norfolk Southern (NSC)

The railroad operator’s stock rose 2.1% in premarket
trading following the announcement of a $10 billion share buyback program.

Chewy (CHWY)

Chewy stock was tanked by 13.5% in premarket action after
the top and bottom-line miss for its latest quarter. The pet products seller
lost 15 cents per share, more than the 8-cent loss that analysts were
expecting, as labour costs rose and profit margins shrunk.