Check out the companies making the biggest moves in pre-market trading: CarMax – Shares fell 9% after the used car retailer reported a loss of earnings and revenue for the fourth quarter. CarMax earnings came in at 32 cents per share, versus the 49 cents expected from analysts surveyed by LSEG. Revenue was $5.63 billion, below consensus estimates of $5.8 billion. Nike – Shares added 2% after upgrade at Bank of America to Buy from Neutral. The bank said Nike's estimates now appear achievable and it is seeing revenue growth at a mid-single-digit rate with an expansion in the athletic footwear company's margin. Robinhood – The stock fell nearly 3% after Citi downgraded it to a sell rating. Analysts said that the brokerage company's evaluation was separated from its basic expectations. Shares have jumped 44% year to date. Constellation Brands – Shares rose 1% after the beverage company behind Modelo beat fourth-quarter expectations, saying its beer business was outperforming. Constellation Brands reported revenue of $2.14 billion, topping the $2.10 billion expected by analysts surveyed by LSEG. Alpine Immune Sciences – Shares of Alpine Immune Sciences rose nearly 37% after Vertex Pharmaceuticals said it would buy the company for about $4.9 billion in cash. The deal values Alpine shares at $65, about 67% above their close on Tuesday, a day before Bloomberg announced that Alpine was considering its options. Vertex shares were flat. Vera Therapeutics – Stock jumped more than 10% after the Vertex/Alpine deal was announced. Both Alpine and Vera have drug candidates that can treat the kidney disease, which is IgA nephropathy. Albemarle – The chemical company's stock rose 1% after an upgrade by Berenberg to buy from hold. The company said it expects Albemarle volumes and prices to trend higher. Berenberg also raised his price target by $30 to $160, suggesting an upside of more than 25%. Atlassian – Shares jumped 4% after Barclays upgraded to overweight from equal weight. The company said the business collaboration software maker should see a broader range of enterprise customers moving to the cloud. Improvements in hiring software developers should also support cloud revenue opportunities, Barclays said. DoorDash – The food delivery platform added 2% after MoffettNathanson once again upgraded to Buy from Neutral. Despite concerns about near-term headwinds, the investment research firm said DoorDash should accommodate growing demand for grocery delivery and could see profitability estimates rise. – CNBC's Alex Haring and Sarah Main contributed reporting.
