Stocks making the biggest moves premarket: Spotify, FedEx, Tesla, Coinbase and more

Check retired the companies making headlines successful premarket trading.

FedEx -- Shares slipped 2.9% aft the shipping elephantine reported quarterly results. The institution notched an earning bushed with an adjusted $4.94 per stock against a Refinitiv statement estimation of $4.89 per share. However, gross came successful beneath expectations astatine $21.93 billion. FedEx executives besides provided astir level gross guidance, and said main fiscal serviceman Mike Lenz would discontinue connected July 31.

Coinbase, Riot Platforms — The crypto speech banal climbed astir 3% successful premarket trading, seemingly aided by the surge successful bitcoin's 7.8% climb, portion crypto mining steadfast Riot added 3.4%. Coinbase has faced a aggregate headwinds recently, from an ongoing spat with the U.S. Securities and Exchange Commission to BlackRock's motorboat of its ain bitcoin exchange-traded fund.

MicroStrategy — The unreality services steadfast with vulnerability to bitcoin added 2.9% successful premarket trading, pursuing different names higher. Shares person climbed much than 121% truthful acold successful 2023 and 8.7% implicit the past month.

Tesla — Shares of the electrical conveyance elephantine added 1.2% adjacent aft a downgrade from Barclays to adjacent value from overweight. The slope warned investors that it whitethorn beryllium prudent to "to determination to the sidelines" aft its caller rally. Tesla shares are up much than 52% implicit the past month.

Winnebago Industries — The motorhome shaper slipped 4.7% aft quarterly results. The institution reported an adjusted $2.13 per stock against estimates of $1.78, according to FactSet. However, the steadfast besides reported a 38.2% diminution successful gross to $900.8 million, which executives attributed mostly to a much challenging RV marketplace and steeper discounts.

Spotify — Shares of the euphony streaming work roseate astir 2% successful premarket trading aft Wolfe Research upgraded Spotify to outperform from adjacent perform. Price increases and maturation successful advertizing should assistance Spotify turn its revenue, according to Wolfe.

Rivian — The EV shaper climbed 1.6% premarket. A time earlier, the institution announced that its customers would person access to Tesla's web of charging stations starting adjacent year.

Exact Sciences — Shares added 6% connected quality of probe agreements with The MIT and Harvard Broad Institute to exclusively usage the company's molecular residual illness diagnostic investigating platform.

— CNBC's Jesse Pound contributed reporting