Check out the companies making headlines before the market opens. Chewy — Shares of the pet retailer rose more than 2% after Piper Sandler upgraded the stock to outperform from neutral. Piper Sandler sees gross margin expansion and efficiency gains as catalysts for the stock’s upside. Peloton — Shares of the connected fitness company fell about 2.4%, a day after rising about 35% on strong quarterly results that reflected a return to sales growth for the first time in nine quarters after cutting costs. Peloton has a mixed outlook for the year ahead. JPMorgan also downgraded the stock after Thursday’s gains. Warby Parker — Shares of the eyewear retailer rose 6% after JMP Securities upgraded the stock to outperform from market. The company expects more constructive comments from Warby Parker management in the coming quarters. Las Vegas Sands — Shares of the casino and resort company fell 1.6% after UBS downgraded the company to neutral from buy. The investment firm noted that business recovery in Macau faces continued challenges. BJ’s Wholesale Club — Wells Fargo upgraded BJ’s Wholesale Club to overweight from equal weight, sending shares of the wholesale retailer up more than 1%. The bank believes that despite disappointing second-quarter results, the company’s strategic shift will make fundamental progress. Bill.com — Shares of the packaged software company rose 3% after the company reported better-than-expected fourth-quarter results. Bill.com reported adjusted earnings of 57 cents per share on revenue of $344 million. Analysts polled by London Stock Exchange Group (LSEG) expected earnings of 46 cents per share on revenue of $328 million. The company also announced a $300 million stock repurchase program. Ross Stores — Shares of the off-price retailer rose more than 5%. The company beat earnings estimates by 9 cents per share on revenue expectations of $5.25 billion. Workday — The human capital management company’s fourth-quarter performance beat expectations, sending its shares up 12.7%. Workday reported adjusted earnings of $1.75 per share on revenue of $2.09 billion. Analysts polled by London Stock Exchange Group (LSEG) expected earnings of $1.65 per share on revenue of $2.07 billion. —CNBC’s Samantha Subin, Jesse Pound and Pia Singh reported
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