Stocks making the biggest moves premarket: Micron, ZScaler, MGM, Bath & Body Works and more
Premarket movers: Zscaler shares fell over 23% after guiding current-quarter revenue to $875M–$878M vs $879M expected, despite fiscal Q3 adjusted EPS of $1.08 beating $1.01 and revenue of $850M beating $835M. Bath & Body Works rose 15% on better guidance; Semtech gained 7% on beats and upside outlook. Micron rose 7% after topping $1T market cap; Sandisk up 3% on Barclays upgrade.
How this was made
The 30-second read
Why it matters
The most tradable signals are forward guidance misses (Zscaler, Box, Dick’s) and quality/regulatory risk (Insulet), while several names benefit from guidance/earnings beats or fresh analyst upgrades (Bath & Body Works, Semtech, Sandisk, MGM).
Market read
Expect same-session volatility and cross-name correlation within cybersecurity and select semis/consumer discretionary, driven by guidance and headline risk.
What to watch
Gap moves can reverse if traders later anchor on the beat portion (e.g., ZS EPS/revenue beat; BOX Q1 beat) or if analysts quickly adjust consensus after the premarket reaction.
Background
This CNBC premarket roundup highlights the largest movers tied to earnings beats/misses, guidance changes, analyst upgrades, and a medical device correction.
Ticker impact
Zscaler guided current-quarter revenue below LSEG expectations, despite beating EPS and revenue in fiscal Q3, driving a >23% premarket drop.
Elevated volatility likely; downside bias until guidance credibility improves.
The article cites a specific revenue guidance miss versus consensus while also noting EPS/revenue beats, which typically keeps traders focused on forward revenue.
Palo Alto Networks fell about 4% premarket as Zscaler’s earnings/guidance pressured cybersecurity peers.
Choppy/mean-reversion possible, but momentum likely remains pressured while ZS weakness persists.
The catalyst described is Zscaler’s results; PANW’s own earnings details are not provided here.
CrowdStrike dropped more than 3% premarket alongside Zscaler’s earnings, reflecting sector read-across from guidance disappointment.
Near-term downside/volatility likely to track ZS tape action.
The article attributes the move to peers being brought down by Zscaler; no CRWD-specific metric is cited.
Bath & Body Works shares rose ~15% after better-than-expected current-quarter guidance in its first-quarter earnings report.
Upside momentum likely to persist early, with risk of profit-taking after the sharp gap.
The article explicitly links the +15% move to guidance exceeding expectations and notes EPS/revenue also slightly beat.
Semtech popped about 7% after beating first-quarter adjusted earnings and revenue and guiding current-quarter metrics above expectations.
Likely continuation higher or at least firm trading if guidance is credible.
The article cites both beat-and-guide dynamics versus LSEG expectations.
Micron rose ~7% in premarket after crossing $1 trillion market cap and continuing its rally.
Near-term bid likely to persist, though susceptible to pullbacks after a milestone-driven run.
The only cited driver is the market-cap milestone and ongoing rally; no new earnings/guidance details are included.
SanDisk gained ~3% after Barclays upgraded it to outperform, citing persistent supply/demand imbalance through 2027.
Moderate upside bias; follow-through depends on broader memory pricing sentiment.
The article provides the upgrade rationale but no company-specific operational update.
Insulet dropped about 5% after announcing a voluntary medical device correction due to a manufacturing issue risking insulin under-delivery.
Downside/volatility likely until investors gain clarity on scope, remediation, and patient impact.
The article specifies a manufacturing issue with potential insulin under-delivery, which is a direct risk to the product.
Market effects
Zscaler’s guidance miss is cited as dragging cybersecurity peers, suggesting near-term multiple compression risk across cloud security.
Leisure/travel sentiment is supported for MGM via Las Vegas Strip growth forecast improvement.
Memory/semis sentiment is supported by Micron’s $1T milestone and Semtech’s beat-and-guide, reinforcing risk-on for parts of the semiconductor complex.
Counterpoint
Some peer declines (PANW/CRWD) may be overdone if they were primarily read-through to ZS rather than driven by their own guidance.
Key entities
- companyZscaler
Guided current-quarter revenue below LSEG expectations, triggering a >23% premarket drop despite EPS/revenue beats.
- companyBath & Body Works
Raised current-quarter expectations above consensus, lifting shares ~15% premarket.
- companyInsulet
Announced a voluntary device correction due to manufacturing issue potentially causing insulin under-delivery.
- companyBox
Guided full-year adjusted EPS below expectations, even as Q1 results beat.
- companyMicron
Shares rose as the company crossed $1 trillion market cap, extending a broader rally.
