Prism Stocks making the biggest moves premarket: Macy’s, Lowe’s, Peloton, Zoom Video and more

Here are the top companies capturing attention in premarket trading:

Macy’s proved its mettle by gaining 3% on the back of sterling first-quarter earnings results and an upgraded outlook for the full year, thanks to a successful turnaround strategy.

Lowe’s boosted its stock by over 2% as its first-quarter reports surpassed market expectations, posting $3.06 earnings per share on $21.36 billion in revenue.

AutoZone faced a slight downturn of 2% due to third-quarter revenues falling short of analyst predictions, despite surpassing earnings per share estimates.

XPeng saw its shares jump by 5% post-announcing better-than-expected first-quarter stats and projecting an annual surge in vehicle deliveries to 25-40% in the second quarter.

Toast experienced a drop of over 2% following a downgrade from Baird due to a potential overvaluation after a 27% year-to-date surge.

Palo Alto Networks saw a pullback of nearly 7% after delivering a forecast for current-quarter earnings in line with the market expectation but with billings that missed the target.

Li Auto shares dipped over 3% following lackluster Q1 results, reporting a 38.6% revenue drop from Q4 of 2023.

Peloton shares took a 4% dip after announcing its plans for a global refinancing initiative involving offering $275 million in convertible senior notes and a $1 billion five-year term loan.

Keysight Technologies took a slight hit of over 2% following a muted outlook for the current quarter.

Lam Research shares got a 4.4% lift following the announcement of a $10 billion share buyback and a 10-for-1 stock split.

Gap shares rose over 2% after Citi initiated a positive catalyst watch, anticipating that the company will likely beat Q1 estimates.

Lastly, Zoom Video saw a 3% decline despite reporting better-than-expected Q1 earnings and revenue.