Premarket Movers | nCino Surges 19%; Nike Sinks 9%; RH Tumbles 17%

nCino reported fourth quarter results that exceeded analyst expectations, driving shares up 18.8% as the banking software provider beat earnings estimates and announced a $100 million share buyback program.

Nike forecast ​of a surprise drop in fourth-quarter sales sent its shares down more than 9% in premarket trading, as persistent ‌weakness in China and slow progress in clearing older inventory hamper turnaround efforts.

RH shares tumbled 16.5% in premarket trading after the company’s fourth-quarter results and expectations for the first quarter and full year disappointed investors despite indications that the company is navigating “a dire housing market.” This was evidenced by 3.7% revenue growth and more than doubling of unadjusted net income during the final quarter of the year.