Premarket Movers | e.l.f. Beauty Soars 9%; NEBIUS Jumps 7%; Space Stocks Jump with VCX up 5%, DXYZ up 3%; Chinese ADRs Fall with Alibaba Down 4%

e.l.f. Beauty shares jumped 9% in premarket trading as the company reported better-than-expected fiscal fourth-quarter results but set full-year guidance below Wall Street’s expectations and swung to a loss for the quarter on an unadjusted basis due to foreign exchange fluctuations.

NEBIUS stock surged 6.87% in pre-market trading. The rally is attributed to the company's announcement of a partnership with Bloom Energy to deploy Bloom's fuel cell technology to power Nebius's expanding AI infrastructure.

The agreement includes a master fuel cell capacity deal with potential aggregate payments of up to $2.6 billion over the term, targeting approximately 328 megawatts of installed capacity expected to come online this year.

Space stocks jumped in premarket trading. VCX up over 5%; DXYZ up over 3%; Virgin Galactic, KULR up around 2%.

Chinese ADRs fell in premarket trading. CWEB down over 5%; Alibaba, Kingsoft Cloud, Baidu down around 4%; RLX, GDS down about 3%.

Rocket Lab shares sank over 5% in premarket trading. The company entered an equity distribution agreement enabling up to $3.0 billion of common stock offerings and forward sale structures.

Intuit lowered annual revenue forecast for its tax-filing software, TurboTax, on Wednesday and said it would cut 17% of its full-time workforce, sending its shares down 13% in premarket trading amid lingering fears of AI disruption.