Stocks making the biggest moves premarket: Costco Wholesale, Richardson Electronics, FedEx and more

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Check out the companies making headlines before the bell:

Richardson Electronics – Shares rose about 0.7% after Richardson Electronics reported a smaller backlog in its third fiscal quarter than it did in the same quarter a year prior. The engineering services firm also reporter better-than-expected earnings.

Costco Wholesale – Shares of the club retailer dipped 2.5% after Costco announced that it saw total comparable sales of $21.71 billion for the retail month of March, down 1.1% from the same period last year. Comparable sales growth was positive when excluded changes in gasoline prices and the impact of foreign exchange, however, with the fastest growth coming outside the United States. Net sales rose 0.5%.

Constellation Brands – Shares of the beverage company rose slightly after Constellation Brands reported its latest quarterly results. The company earned $1.98 per share, beating a Refinitiv forecast of $1.82 per share. Revenue came in line at $2 billion.

FedEx Corporation – Shares moved 1% higher Thursday, a day after announcing a restructuring plan to cut costs. On Wednesday, Raymond James upgraded FedEx to outperform from market perform, saying the company's «transformational changes» are likely to drive better margin, earnings and free cash flow.

Pinterest – Shares rose 1.2% after Raymond James said it initiated coverage of Pinterest with an outperform rating. The firm said it expects steady user growth, as well as «double-digit long-term revenue growth» from product improvements.

Comerica – JPMorgan downgraded the stock to neutral from overweight ahead of the regional bank's first earnings announcement after the regional banking crisis. The stock was flat, however.

Levi Strauss – Levi Strauss