Check out the companies making headlines before the bell. Carvana — Shares gained more than 5% after RBC upgraded the stock to sector perform from underperform. The firm cited a reasonable valuation and a favorable setup for unit acceleration. MongoDB — Shares fell more than 8% after the company issued disappointing first-quarter and full-year guidance Thursday. Meanwhile, MongoDB beat fourth-quarter expectations. The database software maker posted adjusted earnings of 86 cents per share on revenue of $458 million. Analysts had called for earnings of 47 cents per share and $433 million in revenue, according to LSEG. DocuSign — The stock rallied 8.4% after the company beat expectations and gave positive first-quarter guidance. DocuSign reported fourth-quarter adjusted earnings of 76 cents per share on revenue of $712 million for the period. According to analysts surveyed by LSEG, Wall Street had expected earnings of 64 cents per share on $699 million in revenue. Li Auto — U.S.-traded shares of the Chinese EV-maker gained 1.7% after Deutsche Bank initiated coverage with a buy rating on the stock and named it a top pick. Deutsche said Li Auto’s market positioning could be a catalyst for the stock. Gap — The apparel retailer’s stock jumped 8% after earnings came well above Wall Street’s forecasts for the latest quarter. Gap posted earnings per share of 49 cents on $4.3 billion in revenue, while analysts had called for earnings of 23 cents per share on $4.22 billion in revenue, according to LSEG. The company’s Old Navy brand returned to growth for the first time in more than a year. UBS — U.S.-listed shares of the Swiss bank advanced more than 4% after Morgan Stanley upgraded the stock to overweight from equal weight. Morgan Stanley said a rise in investment banking activity could boost UBS. Marvell Technology — Shares declined 6% after the company posted light first-quarter revenue guidance of $1.15 billion. Meanwhile, analysts polled by LSEG expected $1.37 billion. The data infrastructure semiconductor products supplier also reported weaker-than-expected guidance for adjusted earnings in the first quarter. Broadcom — The semiconductor stock shed 1.6% after the company reported full-year revenue guidance that came in-line with analysts’ expectations. For the fiscal first quarter, Broadcom reported adjusted earnings of $10.99 per share, while analysts polled by LSEG had expected $10.29 per share. Revenue came out at $11.96 billion, topping the consensus estimate of $11.72 billion, per LSEG. Textron — Shares rose 1.7% premarket following a Bank of America upgrade to buy from neutral. Textron offered strong revenue growth outlook and a strong balance sheet that supports buybacks, according to BofA. Samsara — Shares surged about 14% after the internet-of-things company reported strong quarterly results, and issued better-than-expected first-quarter and full-year guidance. In its fourth quarter, Samsara said it earned 4 cents per share, excluding items. Revenue of $276 million surpassed the $258 million consensus expectation, LSEG said. New York Community Bancorp — Shares of the regional bank rose 2% in premarket trading after Moody’s Ratings announced that it had changed the direction of its ratings review. NYCB’s credit rating is now under review for upgrade after securing $1 billion in financing this week. Eli Lilly — Shares slipped 1% premarket after the U.S. Food and Drug Administration delayed approving its Alzheimer’s drug, donanemab. The drug was expected to gain approval this month, and is instead expected to be further reviewed for safety and efficacy by an independent advisory committee. Costco — Shares sank 4% a day after the warehouse club reported a revenue miss for its fiscal second quarter. Revenue came in at $58.44 billion, compared with the $59.16 billion expected from analysts polled by LSEG. However, Costo’s earnings per share topped estimates. — CNBC’s Sarah Min, Michelle Fox and Jesse Pound contributed reporting.
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