Biggest Market Movers Premarket: Visa, Duck Creek, Zillow and More

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Bull - Market Indicator
Bull - Market Indicator

Lululemon — Shares of the Canadian apparel company fell more than 10% after Lululemon lowered its gross margin guidance for the fourth quarter. The “athleisure” chain raised its net revenue guidance for the fourth quarter and now expects growth of 25% or more, year over year.

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Visa, Mastercard — Shares of the payments companies gained 1.1% and 1.7% respectively, after Keybanc upgraded their ratings to overweight from from sector weight.

Duck Creek — The provider of intelligence solutions for the insurance industry will be taken private by Vista for $19 a share in cash, CNBC’s David Faber reported. The deal should be announced shortly, he said. Shares surged 39%.

Zillow — Shares of the real estate marketplace company gained 4% after Bank of America double upgraded the stock to buy, citing its improved growth outlook despite a challenging macroeconomic environment.

Hologic — The women’s diagnostics provider reported fiscal first quarter revenue Sunday that topped its most recent guidance and Wall Street analyst estimates. Shares gained 2.8% premarket.