Stocks seeing the biggest moves premarket: ENB, ROKU, GTLB

Check out the companies making headlines in premarket trading on Wednesday.

Roku – Streaming shares rose 12.5% ​​after the company announced plans to lay off 10% of its staff. Roku also raised its third-quarter revenue forecast, saying the company now expects revenue between $835 million and $875 million, compared to its previous forecast of $815 million. Along with the workforce cuts, Roku plans to consolidate office space and review its content planning to reduce costs.

Zscaler – The cloud security company fell 1.2% after reporting better-than-expected earnings in its fiscal fourth quarter and strong guidance for the current quarter. Zscaler reported adjusted profit of 64 cents per share, while analysts surveyed by LSEG, formerly known as Refinitiv, expected 49 cents. Revenue also beat consensus by $25 million, coming in at $455 million. Additionally, the cybersecurity company said profit and revenue are expected to be above analysts’ expectations for the current quarter.

Enbridge, Dominion Energy — Enbridge shares fell 7.1% in premarket trading after Dominion fell 1.1%. said Tuesday it would be sold its three natural gas distribution companies to the pipeline operator for $9.4 billion.

ResMed – Shares rose 2% after Needham upgraded the medical device company to buy-from-waitlist. ResMed, which makes CPAP machines to treat sleep apnea, posted a 30% decline in the third quarter due to concerns about the potential impact of weight-loss drugs on demand for its devices.

GitLab – Shares of the technology platform rose 6.5% in premarket trading after reporting a strong second-quarter report in after-hours trading on Tuesday. GitLab reported adjusted earnings of 1 cent per share on revenue of $140 million, while analysts polled by LSEG expected a loss of 3 cents per share on revenue of $130 million. The company’s revenue outlook for the current quarter exceeded analysts’ expectations.

toast — Shares of the restaurant tech stock rose 3.8% after UBS upgraded the stock to “buy” from “neutral” in a note Wednesday, citing improving potential for quarterly net new additions and margin expansion.

Asana — Work Management shares fell 5.7% despite a good report and outlook. Asana posted an adjusted loss of 4 cents per share on revenue of $162.5 million, while analysts polled by LSEG expected a loss of 11 cents per share on revenue of $158 million. It also raised its full-year guidance to an expected loss of 39 cents to 43 cents per share, lower than the previously expected loss of 50 cents to 55 cents per share.

Southwest Airlines – Shares of the Dallas-based airline fell more than 4% after Southwest said August bookings were at the “low end” of expectations. Southwest expects third-quarter revenue per average seat mile to be at the lower end of its previous forecast, adding that fuel costs have increased.

C3.ai – The artificial intelligence software company rose 1.5% above its earnings due after the market closed on Wednesday. Analysts expect an adjusted loss of 12 cents per share on revenue of $73.8 million in the second quarter and an adjusted loss of 4 cents per share on revenue of $78 million in the third quarter.

Novo Nordisk — Shares of the pharmaceutical giant rose 0.8% in premarket trading. The Danish company launched its weight loss drug Wegovy in Great Britain on Monday, pushing forward the introduction of the drug in Europe despite supply bottlenecks.

AeroVironment — Shares of the unmanned aircraft systems maker rose 15.8% after AeroVironment beat analysts’ expectations in the fiscal first quarter. AeroVironment had adjusted earnings of $1 per share on revenue of $152 million, while analysts surveyed by LSEG forecast earnings of 26 cents per share on revenue of $129 million.

— CNBC’s Sam Subin, Michelle Fox Theobald and Jesse Pound contributed reporting.