Business

Stocks Making the Biggest Moves in Premarket: Ulta, Ollie's Bargain Outlet, Marvell & More

Source: NYSE

Check out the companies making headlines before the bell Friday:

Ollie's Bargain Outlet (OLLI) β€” Shares of the retailer slid more than 11% following commentary around a slowdown in the company's fourth-quarter trends. "Quarter-to-date, our comparable-store sales increases are tracking in the low single-digits," CEO John Swygert said in a statement. Goldman Sachs downgraded the company to a "neutral" rating. The company did, however, beat top and bottom line estimates during the period.

Marvell Technology (MRVL) β€” Shares of the semiconductor company slid more than 5% following Marvell's third-quarter earnings results. The company earned 25 cents per share, which was in line with Street estimates compiled by FactSet. The company's revenue of $750.1 million was just shy of the expected $751 million. Storage sales, however, slipped quarter-over-quarter, and the company's fourth-quarter guidance disappointed the Street.

Carvana (CVNA) β€” Shares of the online car retailer advanced more than 2% after Jefferies initiated coverage on the stock with a "buy" rating. In a note to clients titled "A Shiny New Model That's Speeding Past Competition," the firm said Carvana operates in a "massive addressable market ripe for disruption." Jefferies has a $300 target on the stock, which is about 32% above where shares closed on Thursday.

Dish Network (DISH) β€” Shares of the television provider slid 1% following a downgrade to "neutral" by Guggenheim. The firm also removed Dish from its best ideas list. "While we had hoped asset value would have been realized through either a sale of spectrum, or a partnership with a deep-pocketed tech firm, those scenarios are seemingly becoming much less likely," the firm said in a note to clients.

Stitch Fix (SFIX) β€” Shares of the clothing subscription service company slid more than 2% after MKM Partners downgraded the stock to "sell" from "neutral." The firm noted that recent social media checks point to a lack of inventory and delayed shipments, among other things. Wells Fargo downgraded the company to an "underweight" rating on Thursday.

Yext (YEXT) β€” Shares of the search technology company dipped more than 10% after Yext gave weaker-than-expected guidance for the current quarter. The company said it expects revenue to be between $87 million and $89 million for the fourth quarter, compared to the $94.3 million expected by analysts surveyed by FactSet. The company did, however, beat top and bottom line estimates during the third quarter.

Ulta Beauty (ULTA) β€” Shares of the beauty retailer slid more than 4% after the company said same-store sales fell 8.9% during the third quarter. The company earned $1.64 per share during the quarter, which was ahead of the $1.49 expected by analysts surveyed by FactSet. Revenue of $1.55 billion was slightly shy of the expected $1.56 billion. "We see more downside than upside for ULTA shares at current levels and maintain our hold rating," research firm Stifel said following the results.

β€”CNBC's Michael Bloom contributed reporting.

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