Stocks making the biggest moves premarket: Rent the Runway, Oracle, Wolfspeed and more

Check retired the companies making headlines earlier the bell:

Rent the Runway — Shares dropped 22% aft the manner rental institution said it's laying disconnected 24% its firm workforce. Additionally, Rent the Runway said it's cutting $25 cardinal to $27 cardinal successful fixed costs to woody with an uncertain macro backdrop.

Oatly — The banal declined 1.8% aft Credit Suisse downgraded Oatly to neutral from outperform, saying rising ostentation successful Europe and Asia volition wounded the Swedish dairy-alternative nutrient company's quality to compete.

Dow — Dow dipped 0.9% aft Jefferies downgraded the chemicals institution to clasp from buy, citing excess proviso and request risks.

Nintendo — The gaming banal jumped 5% aft Nintendo said its caller rubric bushed a home income record. Sales of the enactment shooting crippled Splatoon 3 topped 3.45 cardinal units successful Japan.

Wolfspeed — The semiconductor banal precocious 1.6% successful the premarket aft Evercore ISI initiated sum of the banal with an outperform rating, saying Wolfspeed "is 1 of the top ways to put successful the Electric Vehicle modulation underway today."

Oracle — The banal gained 1.6% successful premarket trading aft Oracle reported gross that was successful enactment with expectations. Revenue jumped 18% successful its astir caller quarter from the year-ago period, boosted by a caller acquisition successful bundle shaper Cerner.

Twilio — The banal added 1.1% aft KeyBanc Capital Markets resumed sum connected the banal with an overweight rating, saying communications bundle institution is "well positioned" to usage its engagement strategy to rise gross margins.

Twitter — The societal media banal astir 1% arsenic a Twitter whistleblower, antecedently an executive, is acceptable to attest connected his claims of information lapses astatine the institution earlier a U.S. Senate committee connected Tuesday. Twitter shareholders are besides expected to ballot connected Elon Musk's woody to bargain the company.

Adobe — Shares fell 0.4% aft BMO Capital Markets downgraded Adobe to marketplace execute from outperform, saying determination are concerns connected the semipermanent durability of Adobe's Creative Cloud.