Snowflake slumps, Okta rises, and more By Investing.com

Investing.com — U.S. fell Thursday, as investors digested more downbeat corporate earnings ahead of the release of key inflation data.

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

• Snowflake (NYSE:) stock slumped 23% after the cloud data analytics company forecast first-quarter product revenue below Wall Street estimates on Wednesday on the expectation that customers would cut back on spending in an uncertain economy.

• Best Buy (NYSE:) stock rose 2.6% after the electronics retailer posted a smaller-than-expected drop in quarterly comparable sales, as holiday deals prompted shoppers to buy goods.

• Salesforce (NYSE:) stock fell 0.2% after the cloud software maker issued disappointing full-year revenue guidance, although losses are limited after the company announced its first ever quarterly dividend and increased its stock buyback program.

• Okta (NASDAQ:) stock soared over 24% after the digital security company issued strong guidance for the current quarter following fourth-quarter results that topped Wall Street estimates.

• Boeing (NYSE:) stock fell 1% after a report said the U.S. Department of Justice is scrutinizing the planemaker’s door plug blowout last month.

• Alibaba (NYSE:) ADRs rose 0.2% after the Chinese e-commerce giant announced plans Thursday to slash prices across most of its products at its cloud unit, a move that could further cut margins across the industry.

• AMC Entertainment (NYSE:) stock slumped 8.8% after the theater chain posted a bigger-than-expected quarterly loss on higher distribution costs for Taylor Swift and Beyonce concert movies.

• WW International (NASDAQ:) slumped 25% after the weight-loss services firm said director Oprah Winfrey decided not to stand for re-election at the company’s upcoming annual shareholder meeting.

• Anheuser Busch Inbev (EBR:) (NYSE:) ADRs fell 2.2% after the brewing giant decided against a new share buyback while announcing poor U.S. sales, overshadowing news that it beat sales estimates and raised its annual dividend by 9%.

• C3.ai (NYSE:) stock rose 14% after the enterprise AI technology developer announced a better-than-expected Q3 report and upbeat guidance.