Stocks making the biggest moves in the premarket: Best Buy, Abercrombie & Fitch, Snap and more

cnbc.com:

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

Best Buy (BBY) – Best Buy jumped 5.2% in the premarket after the electronics retailer reported a mixed quarter. Best Buy fell 4 cents a share shy of forecasts, with quarterly earnings of $1.57 per share. Revenue was better than expected, however, and comparable-store sales did not fall as much as analysts had anticipated. Best Buy trimmed its full-year outlook based on worsening macroeconomic conditions.

AutoZone (AZO) – The auto parts retailer earned $29.03 per share for its fiscal third quarter, beating the consensus estimate of $26.05 a share. Revenue topped forecasts, and comparable-store sales posted an unexpected gain. Shares gained 1.4% in premarket trading.

Abercrombie & Fitch (ANF) – The apparel retailer's stock plunged 17.7% in the premarket after the company reported an unexpected quarterly loss, despite better-than-expected revenue. Abercrombie was hit by higher costs, which it expects to remain a headwind for the rest of the year. The company also its full-year outlook.

Snap (SNAP) – Snap plummeted 28.8% in the premarket after the social media company issued a profit warning and said it would slow hiring. The Snapchat parent said it is dealing with a number of issues, including inflation, an uncertain economic environment and Apple's (AAPL) privacy policy changes. Snap's warning is weighing on other social media stocks like Meta Platforms (FB), which is down 6.5%, Twitter (TWTR), off 3.4%, and Pinterest (PINS), down 11.9%.

Petco (WOOF) – Petco jumped 5.4% in premarket action after beating top- and bottom-line estimates for its latest quarter, as well as better-than-expected comparable-store sales for the pet products retailer.

Zoom Video (ZM) – Zoom