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Premarket Movers: Enbridge, Roku, Gitlab, and Other Stocks to Watch

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Premarket Trading: Roku, Zscaler, Enbridge, and More

Several companies are making waves in premarket trading on Wednesday. Let's take a closer look at some of the key developments:


Streaming giant Roku saw a significant jump of 12.5% after announcing plans to lay off 10% of its staff. The company also raised its third-quarter revenue guidance, expecting revenue to range between $835 million and $875 million. Alongside workforce reductions, Roku plans to consolidate office space and review its content slate to cut expenses.


Cloud security company Zscaler reported better-than-expected earnings in its fiscal fourth quarter and provided strong current-quarter guidance. Adjusted earnings per share came in at 64 cents, surpassing analyst expectations of 49 cents. Revenue also exceeded consensus, reaching $455 million. Zscaler anticipates that earnings and revenue will outperform analyst estimates in the current quarter.

Enbridge and Dominion Energy

Enbridge shares experienced a premarket decline of 7.1% following Dominion Energy's announcement that it would sell its three natural gas distribution companies to Enbridge for $9.4 billion. Dominion Energy's stock was down 1.1% at the time of the news.


Shares of medtech device company ResMed rose by 2% after receiving an upgrade from Needham, shifting its rating from hold to buy. ResMed, known for its CPAP devices for sleep apnea, had faced a 30% decline in the third quarter due to concerns about the potential impact of weight-loss drugs on device demand.


Technology platform GitLab experienced a premarket surge of 6.5% following a strong second-quarter report. The company posted adjusted earnings of 1 cent per share on $140 million in revenue, surpassing analyst expectations of a loss of 3 cents per share and revenue of $130 million. GitLab's current-quarter revenue outlook also exceeded analyst forecasts.


Restaurant tech stock Toast saw a 3.8% increase in its shares after receiving an upgrade from UBS. The upgrade raised Toast's rating from neutral to buy, citing improved potential for quarterly net new additions and margin expansion. These premarket movements provide insights into the performance and expectations of these companies. Investors will be closely monitoring these developments as the trading day progresses. — CNBC's Sam Subin, Michelle Fox Theobald, and Jesse Pound contributed reporting.

Conclusion: The Impact on New Businesses

The premarket trading developments among companies like Roku, Zscaler, Enbridge, and more offer valuable insights for new businesses. These trends highlight the importance of strategic planning, financial forecasting, and market analysis.

Learning from Roku and Zscaler

Roku's decision to lay off staff and consolidate resources, coupled with Zscaler's better-than-expected earnings, underscore the need for new businesses to remain agile and adaptable. These companies' strategies demonstrate how operational efficiency and financial performance are closely intertwined.
Implications from Enbridge and Dominion Energy
The deal between Enbridge and Dominion Energy serves as a reminder of the potential for strategic partnerships and acquisitions. New businesses should be open to such opportunities to expand their market reach and enhance their competitive edge.
Takeaways from ResMed and GitLab
ResMed's upgrade from Needham and GitLab's strong second-quarter report emphasize the impact of industry trends and performance metrics on investor confidence. New businesses should strive to stay abreast of industry developments and consistently deliver strong performance to attract investment. In conclusion, the premarket trading trends among these companies provide valuable lessons for new businesses. By closely monitoring these developments, new businesses can gain insights to inform their strategic planning and decision-making.
Story First Published at: https://www.cnbc.com/2023/09/06/stocks-making-the-biggest-moves-premarket-enb-roku-gtlb.html
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