WDAY - Biggest stock movers today: Peloton Micron Technology and more

2023-09-28 05:45:38 ET

Stock futures inched down on Thursday morning, while WTI crude futures touched $95/bbl, continuing a big rally that began at the beginning of the summer.

Here are some of Thursday's biggest stock movers in premarket trading:

Biggest stock gainers

Peloton ( NASDAQ: PTON ) surged 14% after the announcement of a five-year partnership with Lululemon that could change the exercise equipment and services landscape dramatically. Starting October 11, co-branded apparel across Lululemon’s ( NASDAQ: LULU ) product lines will be available for purchase at Peloton retail stores and online in the U.S., U.K., and Canada. Starting November 1, Lululemon Studio All-Access Members will have access to thousands of Peloton classes for the same price they pay today. Exclusive Peloton content will also be available to those who sign up for Lululemon's free Essential membership program.

Biggest stock losers

Despite strong Q4 results, shares of Micron Technology ( NASDAQ: MU ) slipped over 5% on soft guidance . The company expects Q1 sales between $4.2B and $4.6B, with the midpoint above the $4.21B that analysts had expected, and an adjusted EPS loss between $1 and $1.14 per share, compared to analyst expectations of an adjusted loss of $0.96.

Workday ( NASDAQ: WDAY ) shares fell 9% after the cloud software firm reduced its projection for yearly subscription revenue growth over the next three years from 20%, to 17% to 19%.

More on Lululemon, Micron , etc.

• Lululemon Athletica: Demonstrating Resilience Through Innovation
• Micron Technology, Inc. (MU) Q4 2023 Earnings Call Transcript
• Micron Q4 Earnings: Matching My Expectations, Still Not A Buy
• Micron slips as mixed guidance overshadows strong Q4 results
• Exercise shocker: Lululemon and Peloton enter broad strategic partnership

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