Stocks making the biggest moves premarket: Meta, Align Technology, FedEx, Honeywell and more

Check retired the companies making headlines successful aboriginal greeting trading.

Meta — Shares of the Facebook genitor surged 19% successful aboriginal greeting trading aft the institution posted better-than-expected gross and announced a $40 cardinal banal buyback when it reported its quarterly results Wednesday evening. Bank of America upgraded Meta Thursday, saying the company's caller ratio mentality positions banal for much than 40% upside. The spike successful shares helped propulsion different mega headdress tech companies Amazon and Alphabet up by 4% each.

Align Technology — The orthodontics institution saw its shares emergence 14% aft its quarterly net and gross bushed expert expectations. Align besides said it volition repurchase up to $1 cardinal of its communal banal implicit the adjacent 3 years.

FedEx — The shipping elephantine roseate much than 3% aft some Citi and Bank of America upgraded the stock. Citi said it sees "increasing signs of outgo power pursuing its missteps successful 2022." On Wednesday, the institution announced it will laic disconnected 10% of its officers and directors amid cooling demand.

Merck — Shares of the pharmaceutical elephantine dipped much than 1% contempt Merck beating estimates connected the apical and bottommost lines for the erstwhile quarter. The institution reported $1.62 successful adjusted net per stock connected $13.83 cardinal successful revenue. Analysts surveyed by Refinitiv had penciled successful $1.54 per stock connected $13.67 cardinal of revenue. Merck did task income and adjusted net to diminution successful 2023.

Honeywell — Shares of the concern institution fell much than 5% successful premarket trading aft Honeywell's gross for the 4th fourth came successful abbreviated of expectations. The institution generated $9.19 cardinal of revenue, portion analysts surveyed by Refinitiv were looking for $9.25 billion. The information and productivity solutions conception saw income diminution 5% twelvemonth implicit year. Honeywell's adjusted net per stock came successful astatine $2.52, 1 cent supra estimates.

Tesla — The EV shaper saw a 1.8% boost successful its shares pursuing a Reuters report that the institution volition rise output astatine its Shanghai mill to astir 20,000 vehicles per week for February and March. This would beryllium successful effect to higher request aft the institution chopped prices.

e.l.f. Beauty — Shares for the cosmetics institution jumped 1.67% aft its fiscal 3rd 4th gross topped analysts' estimates. The institution announced adjusted net of 48 cents per stock connected gross of $146.5 million. Refinitiv analysts had antecedently called for per-share net of 23 cents connected gross of $121.8 million. The quality marque besides raised its full-year outlook.

C.H. Robinson — The freight institution dipped 1.7% aft its net and gross fell abbreviated of expectations, according to analysts polled by Refinitiv. C.H. Robinson earned $1.03 per stock connected gross of $5.07 billion. Analysts expected net of $1.38 per stock connected gross of $5.68 billion.

Qorvo — The semiconductor institution tumbled astir 3% pursuing its disappointing net report. Qorvo reported a fiscal 3rd 4th nonaccomplishment of $15.9 cardinal and net of 16 cents per share. Analysts polled by StreetAccount had anticipated per-share net of 62 cents connected gross of $725.9 million.

Corteva — Shares of the cultivation chemic institution dipped 1.8% pursuing a mixed net report. Corteva topped operating net expectations for the astir caller quarter, according to StreetAccount, but fell abbreviated of gross estimates. Guidance for operating net and gross was weaker than expected.

— CNBC's Jesse Pound, Hakyung Kim and Alex Harring contributed reporting