Stocks making the biggest moves premarket: Chewy, Birkenstock, GameStop and more

Check out the companies making headlines before the bell. Birkenstock — The shoe company jumped 3.5% after UBS upgraded shares to buy from neutral. The investment bank cited higher average sales prices and strong growth in the Asia market. Chewy , GameStop — Shares of Chewy soared more than 16% after regulatory filing showed meme stock trader "Roaring Kitty" bought 9 million shares, amounting to a 6.6% stake in the pet food e-commerce retailer.

5% after Goldman Sachs initiated coverage with a buy rating. Verizon shares will rise amid an improving competitive backdrop in the telecommunications industry, according to Goldman Sachs. Intercontinental Exchange — The financial exchange's shares rose 1.4% on the back of a Goldman Sachs upgrade to buy from neutral. Goldman said the company's earnings per share can increase at a faster rate, helped in part by its leadership in energy markets.

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