Today's Pre-Market Stock Movers: ZM, CVX, YELP, AZO and More

$Yelp Inc (YELP.US)$ +11.4% ( Activist investor TCS Capital Management confirmed reports that it’s built a stake of more than 4% in Yelp, and is asking the company to explore strategic alternatives including a sale, according to an open letter to the Yelp board of directors on Tuesday.)

$Dick's Sporting Goods (DKS.US)$ +2% ( Dick's Sporting Goods beat earnings expectations by 22 cents a share and reaffirmed its 2023 forecast.)

$Chevron (CVX.US)$ +1.2% ( HSBC upgraded the oil giant to buy from hold, saying the stock will get a boost from rising oil prices.)

$AutoZone (AZO.US)$ -2% ( The specialty retailer’s third-quarter revenue came up short of expectations. AutoZone reported $34.12 in earnings per share on $4.09 billion in revenue. Analysts surveyed by Refinitiv were looking for $31.51 in earnings per share and $4.12 billion in revenue. AutoZone’s inventory increased 7.4% year over year.)

$Lowe's Companies (LOW.US)$ -1% ( The home improvement retailer lowered its full-year forecast for total sales, comparable sales and adjusted earnings per share. However, Lowe's beat on first quarter earnings and revenue.)

$Zoom Video Communications (ZM.US)$ -0.7% ( The video conferencing firm reported adjusted earnings of $1.16, more than the expected 99 cents per share, according to consensus estimates from Refinitiv. It posted revenue of $1.11 billion, higher than revenue of $1.08 billion. However, its second quarter guidance was basically in line with expectations.)

$BJ's Wholesale Club Holdings (BJ.US)$ -1% ( BJ's Wholesale reported revenue that was slightly below Refinitiv estimates. Comparable club sales excluding gasoline came in slightly weaker than expected.)