Stocks making the biggest moves premarket: Peloton, Workday, Chewy and more

Check out the companies making headlines before the bell. Chewy — The pet retailer stock advanced more than 2% on an upgrade from Piper Sandler to outperform from neutral. Piper Sandler believes gross margin expansion and efficiency gains are upside catalysts for the stock. Peloton — Shares of the connected fitness company slid about 2.

BJ's Wholesale Club — The wholesale retailer rose more than 1% on an upgrade to overweight from equal weight by Wells Fargo. The bank believes the company's strategic shifts point toward fundamental progress despite disappointing second-quarter results. Bill.com — Shares of the packaged software company rose 3% after a stronger-than-expected report for the firm's fiscal fourth quarter. Bill.com reported 57 cents in adjusted earnings per share on $344 million of revenue.

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