Nike, Okta, Alibaba, and other stocks are experiencing significant price changes before the market opens.

Take a look at some of the biggest movers in the premarket:

Nike reported a quarterly profit of 87 cents per share, 16 cents above expectations. Additionally, revenue exceeded estimates due to an increase in digital sales and successful navigation of supply chain challenges. As a result, Nike's stock price increased by 6.3% in the premarket, and the shares of its rival, Foot Locker (FL), also saw a boost of 1.4%.

Okta is currently investigating reports of a digital breach and will provide more information when it becomes available. As a result, Okta's shares dropped by 6.3% in premarket trading.

Alibaba boosted its share buyback program to $25 billion, the largest ever for the Chinese e-commerce giant, after its stock price dropped due to regulatory and growth concerns. Despite this, Alibaba's stock price increased by 8% in premarket action.

Altria's shares increased by 1.2% in the premarket after Goldman Sachs upgraded the company to "buy" from "neutral." Goldman highlighted Altria's robust cash flow, high profit margins, and appealing dividend in the current "risk-off" climate.

Tencent Music gained 4.5% in premarket trading after reporting better-than-expected quarterly earnings and announcing plans for a secondary listing on the Hong Kong Stock Exchange.

Following a Bloomberg report that the data center operator was exploring options including a possible sale of the company, Switch has remained on watch and has risen for the past five trading sessions, gaining 11% over that stretch.

Wedbush downgraded Upstart's cloud-based lending platform operator from "neutral" to "underperform," citing the company's dependence on third-party funding and macroeconomic risks. As a result, Upstart's stock price dropped by 3.6% in premarket action.

After a weekend lockout, Canadian Pacific and its workers reached an agreement on binding arbitration to resolve their labor dispute, allowing operations to resume.

After rejecting a takeover offer from Monarch Alternative Capital, the office-centered real estate investment trust's shares rose 1.9% in the premarket. Paramount stated that the $12 per share offer significantly undervalues the company but remains open to any ideas that enhance shareholder value.