Stocks making the biggest moves in the premarket: Herbalife, GitLab, Textron and more

Take a look at some of the biggest movers in the premarket:

Herbalife Nutrition (HLF) – Herbalife tumbled 9.8% in premarket trading after the nutrition and health products company announced a $250 million convertible note offering. Herbalife plans to use the proceeds to repurchase existing debt and for general corporate purposes.

GitLab (GTLB) – GitLab shares surged 18.7% in the premarket following better-than-expected quarterly results for the maker of development operations software, with a smaller loss than analysts had anticipated and sales that exceeded consensus estimates. GitLab also issued an upbeat outlook.

Textron (TXT) – Textron rallied 9.6% in the premarket after the company’s Bell unit won a U.S. Army contract to provide next-generation helicopters. The contract could potentially be worth about $70 billion over a period spanning decades.

AutoZone (AZO) – AutoZone beat top and bottom line consensus for its latest quarter, with the auto parts retailer also reporting a larger-than-expected rise in comparable-store sales. AutoZone has been benefiting from consumers investing in their existing cars amid still-high vehicle prices.

Signet Jewelers (SIG) – The jewelry retailer reported quarterly profit of 74 cents per share, well above the 31 cents a share consensus estimate. Revenue beat consensus estimates as well. Signet’s same-store sales decline of 7.6% was in line with analysts’ estimates. The stock surged 8.1% in premarket action.

JPMorgan Chase (JPM) – The bank’s stock rose 1.5% in the premarket after Morgan Stanley double-upgraded it to “overweight” from “underweight,” pointing to a variety of factors including growing market share for the company’s Consumer & Community Bank and improved operating leverage.

Royal Caribbean (RCL) – Royal Caribbean lost 2.1% in premarket action after a double-downgrade to “underweight” from “overweight” at J.P. Morgan Securities. The analyst report is generally upbeat on the outlook for cruise stocks but notes that Royal Caribbean is particularly vulnerable to a less favorable market for raising capital given the timing of its future financial commitments.

Axon Enterprise (AXON) – Axon fell 2.7% in premarket action after the Taser maker announced a $500 million convertible notes offering.

General Electric (GE) – General Electric was upgraded to “outperform” from “perform” at Oppenheimer, which also set a price target of $104 per share. The report is upbeat on GE’s aviation and power operations, among other factors. GE shares rose 1.4% in the premarket.