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Interior Design area of the Restoration Hardware store in the Meatpacking District of New York.
Source: RH

Check out the companies making the biggest moves in premarket trading:

RH — The high-end furniture chain dropped 6.2% after reporting adjusted earnings per share of $2.88 for the fourth quarter, missing a StreetAccount forecast of $3.32 per share. RH’s first-quarter and full-year guidance also missed expectations.

Charles Schwab – Shares of Charles Schwab dipped more than 1% after Morgan Stanley downgraded the financial services giant, citing an extended earnings recovery timeline that makes the risk-reward balance for shares appear less compelling.

Philip Morris International — The tobacco maker gained 1.8% following an upgrade by JPMorgan to overweight from neutral. The firm cited the growth potential of Philip Morris’ heated tobacco technology known as IQOS Iluma.

Walmart — Shares of the retail giant rose about 1.5% in premarket trading after Evercore ISI upgraded Walmart to outperform from in-line. The investment firm said in a note to clients that Walmart is poised to see traffic and margins improve over the next two years.

Fluence Energy — The energy storage company popped 5.7% following an upgrade by Goldman Sachs to buy from neutral. The Wall Street bank said the recent pullback creates an attractive opportunity. Its price target of $29 implies 78% upside from Wednesday’s close.

Peabody Energy — Shares of the major coal producer slid 0.8% after the company confirmed a fire at its Shoal Creek Mine. All personnel were safely evacuated and an investigation is underway, Peabody Energy said.

UBS — U.S.-listed shares of the Swiss bank rose more than 2% in premarket trading, a day after UBS announced Sergio Ermotti would return as CEO to oversee the takeover of Credit Suisse.

Carnival — The cruise operator gained 2.2% in the premarket, adding to gains from the previous two sessions. Susquehanna upgraded Carnival to positive from neutral on Wednesday, citing EBITDA recovery for the cruise operator in 2024.

— CNBC’s Tanaya Macheel and Jesse Pound contributed to this report.

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