Check out the companies making headlines before the bell. Tilray Brands — Marijuana stocks soared 28% after the Washington Post reported that the Trump administration is considering loosening federal regulations on marijuana. The Amplify Alternative Harvest ETF (MJ) also traded up 20%. Lululemon — The athleisure brand soared 9.4% after CEO Calvin McDonald announced his resignation. The company also beat Wall Street expectations on both product lines. RH — The home furnishings company rose 3% after reporting mixed third-quarter results. The company reported revenue of $884 million, in line with LSEG’s consensus estimate. However, the EBITDA margin and sales forecast for the fourth quarter have been revised downward. Citigroup — The banking giant rose more than 1% after receiving an upgrade to overweight from JPMorgan. “We expect Citi to benefit relatively more from a strong economy and strong market-related activity due to its concentrated earnings,” JPMorgan analysts said. Costco — The stock fell 0.2% even though Costco beat earnings and sales estimates for its fiscal first quarter. The company’s earnings per share were $4.50, beating analysts’ estimates of $4.27 compiled by LSEG. Sales were $67.31 billion, exceeding expectations of $67.14 billion. The stock price has fallen more than 3% this year. BROADCOM — Despite reporting better-than-expected fourth-quarter results Thursday, Broadcom’s stock price fell 6% as investor concerns about the artificial intelligence company continued to swirl. Excluding certain items, the company posted revenue of $1.95 per share on revenue of $18.02 billion, compared to analysts’ expectations of $1.86 per share and revenue of $17.49 billion, according to LSEG Data. The company also increased its dividend to 65 cents per share from 59 cents and raised its first-quarter revenue forecast from $18.27 billion to $19.1 billion. FERMI — Shares plunged 33% after the energy and mega-development company reported it lost a $150 million financing deal with the first potential tenant of the Matador power grid. The grid will provide 11 gigawatts of support for the rapidly growing AI data center complex, eliminating dependence on the already strained public power grid. —CNBC’s Fred Imbert, Sarah Ming and Alex Harring contributed reporting.
