Alaska Air gained 1% in premarket trading after the regional carrier revised its revenue outlook in the current quarter. 

Revenues expectations compared to 2019 were revised higher to increase between 12% to 14% from the previous estimate of 5% to 8% increase. 

Passenger load factor in the quarter is expected to be between 87% and 88% compared to previous estimates between 85% and 88%. 

Chegg Inc jumped 6.3% to $21.70 after the online textbook and tutoring company said its board approved an additional $1 billion of share repurchase program. About $65 million are still available in the previous $1 billion stock repurchase plan. 

CrowdStrike Holdings declined 4.7% to $165.90 after the cyber security technology company said first quarter revenues jumped 61% to $487.8 million and net loss declined to $31.5 million from $85.0 million a year ago. 

Diluted loss per share fell to 14 cents from 38 cents a year ago. 

The company added 1,620 net new subscription customers in the quarter for a total of 17,945 subscription customers as of April 30, 2022, 57% growth from a year ago. 

Coinbase Global Inc declined 4.5% to $70.50 after the cryptocurrency exchange said in a blog post that it is placing a company-wide hiring freeze reflecting the current market downturn. 

Lululemon Athletica added 0.5% to $304.02 after the premium sportswear retailer said first quarter revenues increased 32% to $1.6 billion on 24% comparable store sales. 

The premium apparel retailer said when compared on a three-year basis, first quarter revenues jumped 106% representing a compounded annual growth rate of 27%.  

Net income increased to $189.99 million or $1.48 a share compared to $144.9 million or $1.11 a share. 

The company guided second quarter 2022 revenues between $1.750 billion and $1.775 billion and diluted earnings per share between $1.89 and $1.94. 

The retailer also revised full-year 2022 revenues higher to a range between $7.61 billion and $7.71 billion and diluted earnings per share between $9.42 and $9.57. 

Okta Inc jumped 15% in premarket trading on top of an 11% rise in the previous session to $108.22 after the identity management company reported strong quarterly results. 

The security and identity management company also indicated that the current macro headwinds are not impacting the business. 

Sales in the first quarter ending in April soared 65% to $415 million and net loss surged to $243 million or $1.56 a share compared to $109 million or $0.83 a share. 

The company guided revenues in the second quarter to fall between $428 million and $430 million and for the full-year fiscal 2023 between $1.805 billion and $1.815 billion. 

PagerDuty Inc jumped 3.4% to $28.37 after the cloud computing company said first quarter revenues rose 34#.5 to $85.4 million and net loss jumped to $32.8 million or 38 cents a share from $22.6 million or 27 cents a share. 

The quarterly results were ahead of expectations. 

The company guided second quarter revenue between $87.0 million and $89.0 million an increase between 29% and 32% from a year ago and fiscal 2023 revenue of $364.0 million to $369.0 million, an increase between 29% and 31% from a year ago. 

RH Inc decreased 2.9% to $296 million in premarket trading after the furniture retailer said first quarter revenues increased 11% to $957 million and net income jumped 54% to $201 million. 

Diluted earnings per share soared to $12.16 from $4.19 a year ago. 

The company's gross margin increased 480 basis points driven by product margin increase of 390 basis points as the retailer refrained from the industry-wide trend of discounting.