Stocks making the biggest moves premarket: Bed Bath & Beyond, Nikola, Virgin Orbit and more

An exterior view of a Bed Bath & Beyond store on February 7, 2023 in Clifton, New Jersey.

Kena Betancur | Corbis News | Getty Images

Check out the companies making headlines before the bell.

Bed Bath & Beyond – Bed Bath & Beyond shares dipped 2% before the bell, building on a more than 26% loss from Thursday’s session. The declines came after the company once again warned that it may need to file for bankruptcy protection if its proposed $300 million stock offering fails.

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Nikola – The electric truck maker fell 5% after it announced plans to raise $100 million through a secondary stock offering, or a private sale of stock if needed.

Virgin Orbit — Virgin Orbit shed nearly 43% after announcing that it would halt operations “for the foreseeable future” as it fails to secure funding. Virgin Orbit also said it will eliminate about 90% of its workforce.

Digital World Acquisition — The SPAC linked to former President Donald Trump surged as much as 19% in premarket trading on Friday. The lift comes after a New York grand jury formally indicted Trump on charges related to “hush money” payments made before his 2016 campaign for president.

BlackBerry — Shares fell about 2% after the software company posted fourth-quarter revenue that fell slightly short of consensus estimates. The company’s top line came in at $151 million, while analysts polled by StreetAccount had forecast revenue of $154 million.

Generac Holdings — The power systems provider fell 3.7% following a downgrade to underperform from neutral by Bank of America. The firm said Generac’s guidance for the 2023 fiscal year seems out of reach with its residential segment pressured.

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Regional bank stocks — Some regional bank stocks that have been volatile in recent weeks rose Friday. Shares of First Republic gained 1.7%, while Zions Bancorporation, PacWest and KeyCorp added about 0.6% each. The SPDR S&P Regional Banking ETF inched 0.4% higher. UBS noted that bank borrowings from the Fed declined last week, a sign that liquidity issues may be under control following a difficult month for the broader sector.