Stocks making the biggest moves before the bell: Salesforce, Best Buy, Macy's and more

Check retired the companies making headlines earlier the bell.

Salesforce — Shares of the unreality bundle shaper soared astir 16% successful premarket aft the institution beat Wall Street estimates crossed the board successful its latest net study and issued a better-than-expected forecast. Salesforce besides said it is expanding its stock buyback programme aft introducing it past year.

Best Buy — The user electronics retailer shed 1.9% aft its fiscal twelvemonth net and gross guidance came successful lighter than expected. Best Buy said it expects a income diminution of 3% to 6% for the year, citing the macro environment. However, its quarterly net bushed estimates.

Macy's — The retailer precocious 7.3% aft beating expectations connected per-share net and gathering them connected revenue, according to Refinitiv. Macy's recorded $1.71 successful net per stock for the 4th quarter, supra the $1.57 anticipated. Revenue was successful enactment with expert expectations astatine $8.26 billion.

Silvergate Capital — The slope for integer currencies plummeted 37.6% pursuing 2 downgrades from analysts connected the backmost of caller fiscal fillings from the company. JPMorgan moved the banal to underperform from neutral, citing aboriginal challenges up aft the steadfast cited a informing that it whitethorn not beryllium capable to conscionable its fiscal obligations without liquidating successful the adjacent yea. Canaccord Genuity downgraded the banal to clasp from buy, saying the steadfast has been managed good but it wants to determination to the sidelines portion the particulate from the caller filling settles.

Okta — The integer authentication institution added 15.8% aft it bushed apical and bottommost enactment expectations for the 4th quarter. The institution besides issued current-quarter guidance that was up of expectations, portion guiding full-year gross to travel successful enactment with expectations and per-share net supra them. Cowen upgraded Okta to outperform from marketplace execute arsenic a result.

Dollar Tree — Shares of the discount retailer dipped astir 2% successful premarket trading aft JPMorgan downgraded Dollar Tree to neutral from overweight. The concern steadfast said successful a enactment to clients that Dollar Tree could spot maturation dilatory this twelvemonth arsenic the institution laps terms increases and makes investments for 2024 and beyond.

Snowflake — The unreality information level provider's shares fell much than 7% connected Thursday premarket despite Snowflake posting a bushed connected apical and bottommost lines, according to Refinitiv. Snowflake's gross guidance for the existent play was lighter than investors had expected. The institution besides announced a $2 cardinal banal repurchase program.

Nio — The Chinese electric-vehicle shaper slid 1.6%, continuing to autumn aft Nio reported a wider-than-expected nonaccomplishment for the 4th fourth connected Wednesday. JPMorgan downgraded the stock to neutral from overweight Thursday and said the company's expectations are excessively high.

Anheuser-Busch Inbev — Shares of the brew shaper slipped 1% pursuing a anemic net report. Normalized per-share net came successful 1 cent nether the statement estimation of analysts polled by StreetAccount astatine 98 cents. Revenue besides came successful nether expectations, with the institution posting $14.67 cardinal compared with the $15.21 cardinal anticipated.

Getaround — The car sharing institution added 1.7% aft getting initiated astatine bargain by Roth MKM. The steadfast said Getaround was a marketplace disruptor and tin assistance summation utilization of bequest cars.

MarketAxess — Shares of the fintech institution were up 1.7% aft Atlantic Equities upgraded them to overweight from neutral, saying it is astatine a "near inflection constituent for growth." The banal has popped astir 25% successful 2023, but has dropped 8.5% during the past 12 months.

On Semiconductor — The semiconductor shaper dropped 7.2% pursuing a downgrade to outperform from beardown bargain by Raymond James. The steadfast said it sees near-term headwinds, portion besides noting the stock's valuation is presently supra humanities levels.

Tesla — The electric-vehicle shaper mislaid 6.2% aft its capitalist day. Some saw the lawsuit arsenic lacking specifics.

Coinbase — The crypto level mislaid 2.8% aft Bank of America reiterated its underperform standing and said not to expect clarity connected U.S. regulatory changes to cryptocurrencies successful the adjacent term.

— CNBC's Hakyung Kim, Yun Li, Jesse Pound and Michelle Fox contributed reporting