Check out the companies making headlines before the bell.
DocuSign: Shares of the electronic signature company jumped 16.4% after DocuSign’s quarterly numbers beat Wall Street expectations. DocuSign also shared third-quarter revenue guidance that topped expectations and a full-year outlook that fell in line with estimates.
Zscaler: Zscaler soared 14.1% after posting strong results in the last quarter. The cloud security company reported adjusted earnings of 25 cents per share on revenue of $318 million. Analysts polled by Refinitiv had expected earnings of 20 cents a share on revenue of $305 million.
RH: Shares of the luxury home furnishings retailer fell 1% on disappointing revenue guidance. RH expects third-quarter revenue to decline 15% to 18%, more than StreetAccount’s forecast for a 10.7% decline.
Virgin Galactic: Shares of the space tourism company fell 1.9% after Bernstein downgraded the stock to underperform, citing declining confidence in Virgin Galactic’s business as it eats up cash and delay flights.
Tesla – Shares of Tesla rose 1.3% in premarket after news that the electric vehicle maker is considering building a lithium refinery for the production of electric vehicle batteries in Texas this year, according to a application filed with the Texas Comptroller’s Office.
Navient: Shares fell 2.1% after Barclays downgraded shares of the student loan manager to equal weight. The company said President Joe Biden’s debt relief plan could hurt Navient’s earnings going forward.
Regeneron: Shares of Regeneron rose about 1% in premarket after Morgan Stanley upgraded the stock to overweight following positive results from its eye drug trial. It comes a day after the stock soared nearly 19% following those results.
Zumiez — Shares of the clothing retailer fell 13% in premarket trading after disappointing quarterly results. Zumiez earned 16 cents per share, below a StreetAccount estimate of 47 cents per share. The company’s gross margin has also been below expectations.