Stocks making the biggest moves in the premarket: UPS, Harley-Davidson, Cirrus Logic & more

Take a look at some of the biggest movers in the premarket:

United Parcel Service (UPS) – UPS reported quarterly earnings of $2.66 per share, beating a consensus estimate of $2.14 a share. The revenue also came in above estimates for the holiday quarter. Among the factors boosting the bottom line: a 7.8% increase in revenue per delivered package in the U.S. market, as the pandemic spurred an increase in online shopping. Shares of UPS rose 3.2% in premarket trading as of 7:38 a.m. ET.

Pfizer (PFE) – The drugmaker earned 42 cents per share for the fourth quarter, 6 cents a share below estimates. Pfizer's revenue was above forecasts, however, and the company raised its full-year guidance amid the positive impact of the Covid-19 vaccine developed in conjunction with partner BioNTech (BNTX).

Alibaba (BABA) – The China-based e-commerce giant reported better-than-expected profit and revenue for the fourth quarter, helped by growth in active users as online shopping boomed. Alibaba also saw growth in its cloud computing business.

Harley-Davidson (HOG) – The motorcycle maker reported a loss of 63 cents per share for the fourth quarter, compared with expectations of a 14 cents per share profit. Revenue was also below Wall Street forecasts, with 2020 total shipments hitting a more than 20-year low. Harley also unveiled a five-year turnaround plan aimed at generating low double-digit earnings growth through 2025. Harley shares sank 4.4% in the premarket.

Exxon Mobil (XOM) – Exxon Mobil earned 3 cents per share for the fourth quarter, beating the 1 cent a share consensus estimate. Revenue came in below Wall Street forecasts. Separately, Exxon is expected to announce board changes as soon as today following discussions with investor D.E. Shaw, according to people familiar with the matter who spoke to The Wall Street Journal. D.E. Shaw has been pushing Exxon to cut costs and protect its dividend. Exxon shares rose 2% in premarket trading.

GameStop (GME), AMC Entertainment (AMC), Koss Corp. (KOSS) – Stocks involved in the recent Reddit-inspired volatility are all sharply lower in premarket trading.

Emerson Electric (EMR) – The manufacturing conglomerate's shares rose 3.3% in premarket trading after Emerson beat estimates on the top and bottom lines for its fiscal first quarter. Emerson also made optimistic comments about a rebound in industrial demand for this year. Separately, CEO Dave Farr will step down this week after 21 years in the job, to be replaced by Emerson's automation business head Lal Karsanbhai.

SiriusXM (SIRI) – The satellite radio operator's shares are up 1.4% this morning, after it reported better-than-expected revenue and earnings for its latest quarter. The company noted an expansion in paying subscribers and increased audience penetration helped by its Pandora and Stitcher units.

Cirrus Logic (CRUS) – Cirrus Logic reported quarterly profit of $2.13 per share, beating the consensus of $1.86 a share. The chip maker's revenue also came in above forecasts. Cirrus Logic also announced a $350 million stock buyback. The company's shares fell 7.1% in the premarket.

NXP Semiconductors (NXPI) – NXP earned $3.15 per share for its fourth quarter, compared to the consensus estimate of $2.10 a share. NXP's revenue came in above estimates as well. Its shares were off 1.5% in the premarket. NXP shares had jumped nearly 7% Monday in advance of the report.

BP (BP) – BP reported a lower-than-expected fourth-quarter profit and posted a $5.7 billion annual loss for 2020, its first unprofitable year in a decade. BP was hit by a pandemic-related slump in demand, but does expect a 2021 recovery. The company's shares were down 4.4% in premarket trading.

Boeing (BA) – Boeing said 118 orders for its 777X aircraft can no longer be considered "firm" under accounting rules, trimming the total of orders it considers solid to 191. The company said delays in the 777X program give customers the right to terminate orders or substitute other Boeing aircraft. The company's shares were up 1.1% in the premarket.

DXC Technology (DXC) – French IT consulting firm Atos has ended takeover talks with its U.S. based rival. DXC had maintained that an Atos offer made in January undervalued the company, and had shared "high-level" information to make its case.

American Airlines (AAL) – American Airlines CEO Doug Parker told employees that another round of furlough warnings could be coming on April 1, when payroll support for workers expires. Its shares were up 1.4% in premarket trading.

Vertex Pharmaceuticals (VRTX) – Vertex fell 8 cents a share shy of forecasts with quarterly earnings of $2.51 per share. The drugmaker's revenue beat consensus, however, helped by strength in its cystic fibrosis business.

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