Stocks making the biggest moves premarket: JC Penney, Square, Tesla, L Brands & more

div > div.group > p:first-child"> J.C. Penney — The retailer earned an adjusted 18 cents per share for the fourth quarter, 8 cents a share above estimates,. Revenue also beat Wall Street forecasts and J.C. Penney announced plans to close 18 full-line stores this year.

SeaWorld Entertainment — The theme park operator lost 13 cents per share for its latest quarter, a penny a share smaller than Wall Street was anticipating. Revenue beat estimates, however, and park attendance increased by 8 percent during the quarter compared to a year earlier. Celgene — Celgene shares are under pressure after major Bristol-Myers Squibb shareholder Wellington Management said it would not support the acquisition. Wellington said it thinks Bristol-Myers shareholders are accepting too much risk and that Celgene shareholders are getting the drug maker's shares at well below implied asset value. Bristol-Myers said it believed the acquisition was taking place at an attractive price, and that it was an important opportunity to create sustainable value.

Square — Square beat estimates by a penny a share, with adjusted quarterly earnings of 14 cents per share. The digital payment company's revenue also beat forecasts, however Square's current-quarter outlook is below some analysts' forecasts. Tesla — Tesla was designated as a"Fresh Pick" at Baird, which also reiterated an"outperform" rating. Baird said pessimism on Model 3 demand is overblown, and that weak first-quarter delivery expectations are already priced into the stock.

KKR — The private-equity firm and China's Tencent are separately exploring bids for a stake in Vivendi's Universal Music division, according to Reuters.

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