Check out the companies making headlines in premarket trading. Alibaba — U.S.-listed shares of the Chinese e-commerce giant slipped 3.2%, adding to Thursday’s steep losses that were triggered by Alibaba announcing it would no longer exit its cloud computing business. Alibaba pointed to US export limits on advanced chips as justification for the decision. BJ’s Wholesale Club – Shares retreated 4.6% in premarket trading after the company revised its expectation for comparable store sales in the fourth quarter amid changing consumer behavior. BJ’s now forecasts sales excluding gas between a 2% decrease and a 1% increase in the fourth quarter from the same period a year ago. Analysts polled by FactSet forecast a 1% increase. Tenet Healthcare – The treatment provider climbed 3.5% after announcing it would sell three South Carolina hospitals to Novant Health. The deal is valued at approximately $2.4 billion in cash. Applied Materials – Shares slipped 7.2% on Friday, a day after Reuters reported, citing sources, that the semiconductor company was under investigation by Justice. Sources told Reuters the company was being investigated for possibly ignoring export restrictions on Chinese chip company SMIC. Gap – The retailer soared 18.5% in premarket trading on Friday. Late Thursday, Gap beat third-quarter earnings and revenue expectations, giving investors reason for optimism about the stock despite a subdued outlook for the holiday shopping season. Ross Stores – Shares gained 6.3% on Friday as investors continued to cheer the retailer’s better-than-expected financial report. On Thursday, Ross posted $1.33 in earnings per share and $4.92 billion in revenue for the third quarter, while analysts polled by LSEG had forecast $1.22 in earnings per share and $4.85 billion in revenue. Expedia — The online travel platform advanced 3.3% on the back of an update to top the Evercore ISI line. The company said Expedia is at a “fundamental inflection point” with revenue growth driven by sustainability initiatives. Pacific Biosciences of California (Pacific Biosciences of California) – The science stock added 2.8% after UBS upgraded to buy from neutral. UBS said the biosciences company needs to continue to innovate while it still has a backlog in the near term. GitLab – The software stock fell 4.2% after Barclays moved to the sidelines on GitLab. The bank changed its rating to equal weight from overweight, citing a less attractive risk-reward ratio in the near term. Marriott Vacations Worldwide – Shares of the timeshare company lost 2.5% after Bank of America’s downgrade to below-neutral. The bank also cut its price target roughly in half, saying it was a “‘show me’ story from here.” Analog Devices – Shares jumped nearly 2% after Morgan Stanley upgraded the company to equal-weight overweight. The bank cited superior performance and prior earnings de-risking following management downgrades. — CNBC’s Hakyung Kim and Sarah Min contributed reporting
Alibaba Group Holding Ltd Analog Devices Inc Applied Materials Inc BJ's Restaurants Inc BJ's Wholesale Club Holdings Inc Breaking News: Markets business Business News ChargePoint Holdings Inc Compass Minerals International Inc earnings economy Expedia Group Inc FactSet Research Systems Inc Gap Inc Gitlab Inc Market Insider markets Marriott International Inc Marriott Vacations Worldwide Corp Pacific Biosciences of California Inc Ross Stores Inc stock markets Tenet Healthcare Corp UBS Group AG