stocks moving most quickly before market opening

• Acuity (AYI) saw a 5% increase in its stock price in premarket trading.
• Restoration Hardware (RH) fell 7.7% after the home goods retailer dropped its full-year guidance.
• Spirit Airlines (SAVE) will have a shareholder vote on its merger with Frontier Group.

Walmart (WBA) – The operator of the drugstore made an adjusted 96 cents per share for the most recent quarter, 4 cents more than expected. Revenue also exceeded analyst expectations. Walgreens also reiterated its outlook for the entire year, predicting low-single-digit rise in adjusted earnings. Premarket trading saw a 2.7 percent decline in the shares.

Constellation Brands (STZ) – The manufacturer of spirits outperformed expectations by 14 cents, posting adjusted quarterly earnings of $2.66 per share on higher revenue. Constellation provided a positive full-year outlook as well, and the stock rose 1% in the premarket.

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Brands Acuity (AYI) – After exceeding top and bottom line expectations for its most recent quarter, the manufacturer of building management systems saw a 5% increase in its stock price in premarket trading. The success of Acuity’s lighting division contributed to its positive results.

After the home goods and furnishings retailer dropped its full-year financial guidance, RH (RH) fell 7.7 percent in premarket trading. The business formerly known as Restoration Hardware blamed a downturn in home sales and a weakening national economy.

John Visentin, the chief executive of Xerox (XRX), passed away at age 59 as a result of consequences from a chronic disease. Steve Bandrowczak, the company’s president and chief operating officer, was appointed interim CEO. Xerox experienced a 1% premarket decline.

NXST: Nexstar Media According to the Wall Street Journal, Nexstar is in a strong position to take over the CW TV Network. According to the newspaper, a deal to purchase a 75% ownership in the CW from its existing co-owners Warner Brothers Discovery (WBD) and Paramount Global is close (PARA).

Spirit Airlines (SAVE) – On July 8, Spirit will have a shareholder vote on its planned merger with Frontier Group (ULCC). The delay occurs while JetBlue (JBLU) keeps pressuring Spirit to accept its competing offer. In the premarket, Spirit gained 1.2 percent, Frontier Group gained 1.8 percent, and JetBlue lost 3 percent.

BioNTech (BNTX), and Pfizer (PFE) – The pharmaceutical companies agreed to give the American government 105 million doses of their Covid-19 vaccine in exchange for a $3.2 billion payment. In the event that the FDA approves, that would also include supply of an upgraded vaccine focused on the omicron form. In premarket trade, BioNTech saw a 1.1 percent increase.

BAH, Booz Allen Hamilton The Justice Department filed a lawsuit to stop the planned merger of security firms Booz Allen Hamilton and Everwatch, claiming that the transaction will raise costs and lead to a monopoly in the provision of essential security services.

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