Nvidia, Lululemon, Carvana rise premarket; Five Below, Victoria’s Secret fall

Investing.com — U.S. stock traded in tight ranges Thursday ahead of the release of the weekly initial jobless claims data, ahead of Friday’s key nonfarm payrolls release.

Here are some of the biggest premarket U.S. stock movers today:

• Nvidia (NASDAQ:) stock rose 1.7%, continuing to gain after the artificial intelligence chip designer’s market cap topped $3 trillion during the previous session, overtaking iPhone-maker Apple (NASDAQ:) as the world’s second most valuable company.

• Lululemon Athletica (NASDAQ:) stock surged 8.8% after the premium athletic apparel retailer posted first-quarter profit and sales that topped estimates, while also raising its annual guidance.

• Five Below (NASDAQ:) stock slumped 16% after the discount retailer cut its sales forecast for the year after a tough quarter, with demand for its once-popular Squishmallows on the wane.

• Nio (NYSE:) ADRs fell 3.2% after the China-based electric vehicle maker reported first-quarter results that missed expectations amid “intensifying competition,” but did provide an upbeat take on the current quarter.

• Victoria’s Secret (NYSE:) stock fell 2.9% after the lingerie chain posted a net loss of $4 million in the first quarter, citing caution around the broader retail environment in North America.

• Novo Nordisk (NYSE:) stock rose 0.2%, continuing the Danish pharmaceutical giant’s share price surge so far this year thanks in part to strong demand for its lucrative Wegovy weight-loss drug.

• Carvana (NYSE:) stock rose 3.2% after a bullish note from Evercore ISI, with the investment firm saying the used car retailer is likely to outperform analyst expectations for the first quarter, citing “ongoing share gains amidst a growing used car industry backdrop.”

• Big Lots (NYSE:) stock fell 18% after the home-essentials retailer posted a wider-than-expected fiscal first-quarter loss as consumers avoided big-ticket items.