Stocks making the biggest moves premarket: Best Buy, First Solar, Twitter and more

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Check out the companies making headlines before the bell:

Best Buy (BBY) – Best Buy gained 2.6% in the premarket after the electronic retailer beat Street forecasts on the top and bottom lines for its latest quarter, while comparable store sales declined less than expected.

Big Lots (BIG) – The discount retailer reported a smaller-than-expected quarterly loss and better-than-expected revenue. Comparable store sales also fell less than analysts had forecast. The stock rose 2.7% in premarket trading.

First Solar (FSLR) – First Solar rose 1.9% in premarket action after announcing it would spend $1.2 billion to expand U.S.-based manufacturing, including a new factory in the southeast. The solar equipment maker earlier this year had said it was unlikely to build new U.S. facilities, but changed its strategy due to the tax incentives provided by the recently passed Inflation Reduction Act.

Twitter (TWTR) – Twitter fell 1% in premarket trading after Elon Musk sent a second deal termination notice. Musk first announced he was pulling out of his $44 billion deal to buy Twitter in early July. The second notice – detailed in an SEC filing – gives additional reasons for pulling out, including the contention that allegations detailed in the recent whistleblower complaint could have severe consequences for Twitter's business.

Baidu (BIDU) – Baidu reported better-than-expected profit and revenue for its latest quarter, with the China-based search engine company seeing a recovery in ad sales and stronger demand for its cloud-based offerings. Baidu shares added 3.8% in the premarket.

Bed Bath & Beyond (BBBY) – The housewares retailer's stock surged 11.7% in the premarket after soaring 25% yesterday. The company – popular