Stocks making the biggest moves premarket: Reddit, Nike, FedEx and more

Check out the companies making headlines before the bell. Nike — The stock slumped 6.2% after the iconic sneaker brand reported slowing growth in China in its fiscal 2024 third quarter, despite posting better-than-expected quarterly earnings and revenue, boosted by North American sales and price changes.

Shares dropped more than 3.5% on news that Antonio Belloni will step down from his management role as deputy to chief executive Bernard Arnault at the French luxury goods company. Belloni, who was the group managing director of LVMH and chairman of its executive committee, will become president of LVMH Italy after leaving his roles in April. — CNBC's Jesse Pound, Tanaya Macheel and Michelle Fox Theobald contributed reporting.

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