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Check out the companies making headlines before the bell rings. Carvana – Shares rose more than 5% after RBC upgraded the stock to Sector Perform from Underperform. The firm cited fair valuations and favorable setup for unit acceleration. MongoDB – Shares fell more than 8% after the company issued disappointing first-quarter and full-year guidance on Thursday. Meanwhile, MongoDB beat expectations for the fourth quarter. 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 revenue of $433 million, according to LSEG. DocuSign – The stock rose 8.4% after the company beat expectations and gave positive guidance in the first quarter. DocuSign reported fourth-quarter adjusted earnings of 76 cents per share on revenue of $712 million for the period. Wall Street had expected earnings of 64 cents a share on revenue of $699 million, according to analysts surveyed by LSEG. Li Auto – US-traded shares of the Chinese EV-maker rose 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 position could be a catalyst for the stock. Gap – The apparel retailer’s stock jumped 8% after earnings came in well above Wall Street forecasts for the latest quarter. Gap reported earnings of 49 cents per share on revenue of $4.3 billion, while analysts had called for earnings of 23 cents per share on revenue of $4.22 billion, according to LSEG. The company’s Old Navy brand returned to growth for the first time in more than a year. UBS – Shares of the Swiss bank’s US-listed stock rose more than 4% after Morgan Stanley upgraded the stock to overweight from equal weight. Morgan Stanley said an increase in investment banking activity could provide a boost to UBS. Marvell Technology – Shares fell 6% after the company gave light first-quarter revenue guidance of $1.15 billion. Meanwhile, analysts surveyed by LSEG had expected $1.37 billion. The data infrastructure semiconductor products supplier also reported weaker-than-expected guidance for first-quarter adjusted earnings. Broadcom – The semiconductor stock fell 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 in at $11.96 billion, surpassing the consensus estimate of $11.72 billion, per LSEG. Textron – Shares rose 1.7% after Bank of America upgraded it to buy from neutral. According to BofA, Textron offered a strong revenue growth outlook and a strong balance sheet that supports the buyback. Samsara – Shares rose nearly 14% after the Internet-of-Things company reported strong quarterly results, and issued better-than-expected guidance for the first quarter and full year. In its fourth quarter, Samsara said it earned 4 cents per share, excluding items. LSEG said revenue of $276 million exceeded the $258 million consensus expectation. New York Community Bancorp – Shares of the regional bank rose 2% in premarket trading after Moody’s Ratings announced it was changing the direction of its rating 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 be approved this month, and is instead expected to undergo further review for safety and efficacy by an independent advisory committee. Costco – Warehouse Club shares fell 4% a day after it reported a revenue decline in its fiscal second quarter. Revenue came in at $58.44 billion, compared with expectations of $59.16 billion among analysts surveyed by LSEG. However, Costco’s earnings per share topped estimates. — CNBC’s Sarah Min, Michelle Fox and Jesse Pound contributed reporting.
