Check out the companies making the biggest pre-market moves: Private Equity Firms — The group fell after Bloomberg News reported that Switzerland-based private equity firm Partners Group restricted withdrawals from one of its private equity funds. Blackstone fell 6% and KKR fell more than 5.5%. Blue Owl Capital fell nearly 4%. Palo Alto Networks — Cybersecurity stock fell 2%. Palo Alto announced better-than-expected revenue guidance for the current quarter and raised its full-year revenue outlook. The company also posted fiscal third-quarter adjusted earnings of 85 cents per share on sales of $3 billion, beating analysts’ expectations for earnings of 80 cents per share and sales of $2.94 billion, according to LSEG. GitLab — Shares fell nearly 4% as the software company expected adjusted earnings per share of 17 cents to 18 cents, compared with 19 cents per share expected by analysts surveyed by LSEG. GitLab also announced that it will be reducing its full-time workforce by approximately 14% (350 team members) and exiting 22 countries. The company also expects to incur pretax restructuring charges of $30 million to $35 million. Marvell Technology — Shares rose Wednesday after posting a record day on Tuesday, surging 32%. Marvell soared more than 13% in pre-market trading. Macy’s — The retailer’s stock rose 1.5% after posting its strongest growth in four years in the first quarter. Revenue also exceeded expectations, coming in at $4.68 billion, compared to LSEG analysts’ expectations of $4.61 billion. The company also raised its full-year forecast. CBOE Global Markets — The exchange rose 1.5% after three days of declines that saw the stock drop nearly 20%. Concerns about the impact the introduction of perpetual futures in the U.S. will have on traditional exchanges weighed on these stocks this week. Ulta Beauty — The beauty stock fell 1% even though the company raised its full-year profit outlook. Ulta also reported first-quarter earnings of $7.74 per share, beating analysts’ estimates of $6.86 per share based on LSEG. Sales of $3.16 billion also exceeded expectations of $3.1 billion. Ollie’s Bargain Outlet — Shares rose more than 4% after the company reported a mixed first-quarter financial report, in which earnings beat expectations but revenue fell short. However, the company raised its full-year earnings forecast, predicting earnings per share in the range of $4.45 to $4.55, compared to the $4.44 expected by analysts polled by FactSet. GameStop — The video game retailer soared nearly 13% after reporting adjusted earnings of 30 cents per share in the first quarter. This exceeded analyst estimates compiled by FactSet of 16 times earnings per share. Sales also increased by 14% compared to the previous year. Shake Shack — Shares fell 1% after Morgan Stanley and Raymond James downgraded the stock. Morgan Stanley changed its rating from overweight to equal weight, and Raymond James changed its outlook from strong buy to outperform. Raymond James analysts said margin volatility has increased as beef and energy prices rise. Medtronic — The medical device company posted better-than-expected revenue of $9.81 billion in its fiscal fourth quarter, rising 3%. Adjusted profit was in line with expectations, but full-year profit guidance for the current fiscal year was slightly lower than expected. Yum Brands — Shares rose 1.5% after Morgan Stanley upgraded the stock from equal weight to overweight. Analysts said the stock is undervalued and should trade at a higher multiple due to its strong growth profile. —CNBC’s Lisa Kailai Han contributed to this report
