These are the stocks posting the largest moves in premarket trading

January 17, 2025 | 09:17am

Stocks making the biggest moves premarket: J.B. Hunt, Qorvo, Fastenal and more

These are the stocks posting the largest moves in premarket trading

Check out the companies making headlines before the bell: J.B. Hunt Transport Services — Shares fell more than 7% after the company's fourth-quarter earnings came in weaker than expected. J.B. Hunt earned $1.53 per share, below the LSEG consensus estimate of $1.61 per share. Meanwhile, revenue for the period came in line with expectations at $3.15 billion. Qorvo — The stock rose more than 7% after The Wall Street Journal, citing people familiar with the matter, reported that activist investor Starboard Value has built a 7.7% stake in the company and is looking to make changes to boost the company's share price. MoonLake Immunotherapeutics — The biotech stock jumped more than 4% after receiving an upgrade to buy from neutral at Goldman Sachs. The firm cited the anticipation of positive phase 3 trial data for its treatment of a chronic skin condition known as hidradenitis suppurativa. Fastenal — Shares dropped more than 4% after the company's fourth-quarter earnings and revenue missed Wall Street's expectations. Fastenal earned 46 cents per share on revenue of $1.82 billion, while analysts polled by FactSet were expecting 48 cents per share on $1.84 billion in revenue. Life360 — The location-sharing app's stock moved more than 3% higher after UBS upgraded it to buy from neutral , citing more confidence in the company's midterm ad revenue opportunity as a catalyst. Rivian Automotive — The electric vehicle maker's stock rose 2.6% after the company finalized a loan agreement with the Department of Energy for up to $6.6 billion to help build a new manufacturing site in Georgia. Construction is set to begin in 2026 with the production of customer vehicles expected to happen in 2028, according to the Thursday press release. Apple — The iPhone maker gained nearly 1%, clawing back some of the losses seen in the previous session. On Thursday, Apple shares fell around 4%, experiencing its worst day since August, on the backs of reports of lackluster iPhone sales in China . Lam Research , Applied Materials — The semiconductor equipment stocks rose about 2% after KeyBanc Capital Markets upgraded both to overweight from sector weight. The investment firm said Lam Research and Applied Materials have exposure to artificial intelligence-related devices that should help push their shares higher. Salesforce — The stock advanced 2% after a TD Cowen upgraded shares to buy from hold. The firm said its recent pullback has created a "compelling entry point" for investors. Cloudflare — Shares popped 3.5% on the heels of Citi's upgrade to buy. Citi said it has improved confidence on the cloud stock's fundamentals and growth potential. — CNBC's Alex Harring, Jesse Pound, Sarah Min and Pia Singh contributed reporting.

This story originally appeared on: CNBC - Author:Sean Conlon