Stocks making the biggest moves premarket: Dell Technologies, MicroStrategy, Urban Outfitters and more

Here’s a brief on the significant market movements that happened before the opening bell:

Dell Technologies’ shares took a dip, with a drop of over 12%, after the tech giant announced that their Q4 revenue and earnings might not meet Wall Street’s expectations. However, they exhibited a positive outlook on artificial intelligence sales growth.

Workday saw its shares drop around 11% after its less than expected Q4 forecast. The company predicts a subscription revenue of $2.025 billion and an operating margin of 25%, falling slightly short of analysts’ expectations.

HP, the PC manufacturer, experienced an 8% slump in the wake of disappointing earnings guidance for their shares.

Autodesk’s stocks slipped more than 7% due to their Q4 forecast coming up short of analysts’ estimates. In contrast, the software company announced Janesh Moorjani’s appointment as its new CFO, effective Dec. 16th.

MicroStrategy and Coinbase, companies tied to Bitcoin’s price, witnessed a rise in their stocks as Bitcoin rebounded on Wednesday.

Urban Outfitters recorded nearly a 12% increase in their shares in response to their earnings and revenue beat postmarket on Tuesday, exceeding analysts’ expectations.

The cybersecurity stock Crowdstrike reported a 4% slip following its cautious future guidance. The company projects an acceleration in net new annual recurring revenue in the latter part of the coming year.

Semiconductor design firm Ambarella saw its stocks surge by around 21% following their optimistic Q4 outlook, surpassing analysts’ anticipations.

Lastly, Nutanix’s shares increased 5.5% after the company reported fiscal Q1 results that beat expectations.