Stocks Making the Biggest Moves Premarket: JBHT, QRVO, FAST

Little Rock: So, a bunch of stocks are making waves before the market opens. J.B. Hunt’s shares took a hit, dropping over 7% after their fourth-quarter earnings didn’t meet expectations. They reported earnings of $1.53 per share, which was below the $1.61 that analysts were hoping for. But their revenue was steady at $3.15 billion.

On the flip side, Qorvo’s stock jumped more than 7%. Apparently, activist investor Starboard Value has snagged a 7.7% stake in the company and wants to shake things up to boost the share price.

MoonLake Immunotherapeutics saw a nice bump too, with shares rising over 4% after Goldman Sachs upgraded them to buy. They’re expecting some positive news from a phase 3 trial for a skin condition treatment.

Fastenal, however, didn’t fare so well, with shares dropping over 4% after their earnings and revenue missed Wall Street’s targets. They reported earnings of 46 cents per share on $1.82 billion in revenue, while analysts were looking for 48 cents and $1.84 billion.

Life360, the location-sharing app, saw its stock rise more than 3% after UBS upgraded it to buy, citing better prospects for ad revenue.

Rivian Automotive’s stock climbed 2.6% after they finalized a loan deal with the Department of Energy for up to $6.6 billion to build a new manufacturing site in Georgia, with production expected to start in 2028.

Apple managed to gain nearly 1%, recovering some losses from the previous day when their shares fell about 4% due to disappointing iPhone sales in China.

Lam Research and Applied Materials both saw about a 2% rise after KeyBanc upgraded them, noting their exposure to AI-related devices.

Salesforce’s stock went up 2% after TD Cowen upgraded them to buy, saying the recent dip created a great buying opportunity.

Lastly, Cloudflare shares popped 3.5% after Citi upgraded them to buy, expressing improved confidence in their growth potential.