Stocks making the biggest moves premarket: GameStop, Luminar Technologies, Virgin Orbit & more

Check retired the companies making headlines earlier the bell.

GameStop — The meme banal surged 44% aft the institution posted a quarterly profit for the archetypal clip successful 2 years Tuesday. The video crippled retailer's gross borderline besides roseate from the year-earlier period.

Luminar Technologies — Shares dropped astir 9.2% aft being downgraded by Goldman Sachs to merchantability from neutral. The Wall Street steadfast cited borderline hazard and a premium valuation for the call.

Petco Health and Wellness — The banal fell by 7.8% successful aboriginal greeting trading aft the institution reported fourth-quarter net that missed Wall Street's expectations. Petco posted a gross of $1.58 billion, successful enactment with expectations from analysts surveyed by StreetAccount. Petco besides reported adjusted net per stock of 23 cents, beneath a statement estimation of 24 cents per share.

Virgin Orbit Holdings — Shares of billionaire Richard Branson's rocket builder soared by astir 73.3% aft Reuters reported it is aiming to adjacent a woody for a $200 cardinal concern from Texas-based task superior capitalist Matthew Brown via a backstage stock placement. Virgin Orbit and Brown are aiming to adjacent the woody connected Friday, the study said. The institution was bracing for a imaginable bankruptcy filing arsenic soon arsenic this week, CNBC reported connected Monday.

Boeing — Shares of the hose declined by 1.3% connected quality that Boeing volition instrumentality further charges to its KC-46 tanker programme owed to a supplier prime contented with the halfway substance tank, main fiscal serviceman Brian West said Wednesday. Although the charges were not disclosed, West said Boeing's margins astatine its defence concern would beryllium antagonistic for the archetypal quarter.

First Republic — Shares of the determination slope fell by 4.2% successful premarket trading aft jumping astir 30% successful Tuesday's session. The banal has been highly volatile successful caller weeks arsenic investors person reacted to the closure of Silicon Valley Bank.

Nike — Nike dipped astir 1.1% earlier the doorbell adjacent aft it bushed expectations for its fiscal 3rd 4th connected some the apical and bottommost lines. Sales successful China fell abbreviated of expert expectations, and the institution continued moving done its inventories, which weighed connected margins.

— CNBC's Samantha Subin, Jesse Pound, Alex Harring and Michelle Fox Theobald contributed reporting.