Pre-Market Trading: Lululemon, Duck Creek, Mastercard, Uber and More Showing Significant Movement

Lululemon's shares fell by more than 10% after the company lowered its gross margin guidance for the first quarter. Despite this, the company raised its net revenue guidance for the fourth quarter, expecting growth of 25% or more year-on-year.

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Shares of Visa and Mastercard rose 1.1% and 1.7% respectively after Keybanc upgraded their ratings to overweight from sector weight.

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Duck Creek, a 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%.

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Zillow's stock rose 4% after Bank of America upgraded it to "buy," citing the company's improved growth prospects despite a challenging macroeconomic environment.

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Hologic, a women's diagnostics provider, reported fiscal first quarter revenue on Sunday that surpassed its most recent guidance and Wall Street analyst estimates. The company's shares rose 2.8% in premarket trading.

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Energy stocks were on the rise premarket as oil prices increased. Marathon Oil, Halliburton, EOG Resources, and Hess all saw gains of more than 2%.

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Shares of Bed, Bath & Beyond jumped more than 17% premarket after the retailer warned of its ability to continue as a going concern. Bed, Bath & Beyond last week sent shares plummeting with its warning.

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Oracle's shares rose more than 1% in premarket trading following an upgrade to overweight from neutral by Piper Sandler. The investment bank said in a note that Oracle's cloud business could see annual growth above 20% in the next few years.

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Uber shares rose 2.8% after the company was upgraded to "overweight" from "neutral" by Piper Sandler. The bank said that higher car prices will lead consumers to use Uber and other rideshare platforms more.

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Nvidia's stock rose 1.6% in pre-market trading after the company was named a top pick by Wells Fargo analysts. The analysts said they see a positive data center product cycle materializing over the next few years.

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Tesla shares rose 3.7% in premarket trading on Monday after the company's attorneys asked a California court to move a trial over the stock to Texas. The attorneys cited local negativity as the reason for the request.

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Ferrari shares rallied more than 2% premarket after being named a top pick for 2023 by Bank of America. Analysts noted the automaker’s balanced strategy, resilient financial performance and conservative 2023 outlook.