Stocks making the biggest moves premarket: Rivian, Kohl's, Novavax and more

Check retired the companies making headlines earlier the bell.

Rivian — Shares of the electrical conveyance shaper tumbled much than 9% aft the institution posted mixed fourth-quarter results and an underwhelming accumulation outlook. Revenue for the 4th came successful astatine $663 million, falling good beneath analysts' estimates of $742 million, according to Refinitiv. Rivian reported a smaller-than-expected loss, however.

Sarepta Therapeutics — The biotech banal soared by 17% aft Morgan Stanley upgraded Sarepta shares to overweight from adjacent weight. Analyst Matthew Harrison said the compay's way for SRP-9001, an investigational cistron therapy for Duchenne muscular dystrophy (DMD), present appears "de-risked."

Spotify — The audio streaming giant's banal terms roseate 1.3%. Redburn upgraded the banal to bargain earlier successful the day, noting that it sees stronger margins arsenic headwinds from investments, publishing royalty increases and overseas speech wane.

Kohl's — Shares of the retailer fell much than 8% aft Kohl's reported a astonishment loss for the 4th quarter, with CEO Tom Kingsbury saying that income were pressured by the "ongoing inflationary environment." Kohl's reported a nonaccomplishment of $2.49 per stock connected $5.78 cardinal of revenue. Analysts surveyed by Refinitiv had expected affirmative net of 98 cents per stock connected $5.99 cardinal of revenue.

Monster Beverage — Shares of the beverage institution were down 4.8% aft Monster released net aft Tuesday's closing bell, posting quarterly net of 57 cents per stock portion analysts surveyed by StreetAccount anticipated 63 cents per share. Monster reported $1.51 cardinal successful revenue, falling abbreviated of analysts' expectations of $1.6 billion.

Novavax — Shares dropped 25.4% successful aboriginal greeting trading aft the vaccine developer said that "substantial uncertainty exists regarding our quality to run arsenic a going concern" done the adjacent year. 

AMC Entertainment — The meme banal dropped much than 8% aft AMC posted a greater-than-forecast nonaccomplishment of 26 cents per stock successful its latest quarter, compared to the 21 cent per stock nonaccomplishment expected by analysts surveyed by Refinitiv. Otherwise, AMC reported a gross bushed of $991 million, much than statement estimates of $978 million.

Hewlett-Packard — HP gained 2.7% successful aboriginal marketplace trading aft reporting first-quarter net connected Tuesday. The exertion institution forecasted higher net per stock for the 2nd quarter, and besides maintained its full-year net people connected expectations that China's rollback of Covid restrictions volition assistance successful request recovery.

Lowe's — The location betterment retailer's fiscal fourth-quarter income fell abbreviated of Wall Street's expectations, with gross coming successful astatine $22.45 cardinal versus the $22.69 cardinal expected, per Refinitiv. However, adjusted net per stock of $2.28 topped a forecast of $2.21. Lowe's was fundamentally level successful the premarket, up 0.22%.

First Solar — The star banal added 5.4% successful premarket trading aft First Solar issued full-year guidance that was up of expectations connected per-share net and revenue. On Tuesday, First Solar reported a fourth-quarter nonaccomplishment of 7 cents per stock compared with a 17 cent per-share nonaccomplishment forecasted by analysts surveyed by FactSet. The company's gross came successful enactment with expectations astatine $1 billion.

— CNBC's Sarah Min, Michelle Fox Theobald, Tanaya Macheel, and Jesse Pound contributed reporting.