Several notable stocks are experiencing significant price changes before the market opens: Peloton, Novavax, Harley-Davidson, and others.

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

John Foley, CEO of Peloton, will be stepping down, resulting in the fitness equipment maker cutting about 2,800 jobs or 20% of its corporate staff and $800 million in annual costs. Foley's replacement will be Barry McCarthy, who previously worked at Spotify and Netflix. Peloton's stock price fell 8.4% in premarket trading.

Novavax's premarket stock price dropped 6.7% after Reuters reported that the company had only delivered a small portion of the 2 billion Covid-19 vaccine doses it had planned to distribute globally.

Pfizer's shares dropped 3.8% in the premarket after reporting a revenue miss for the latest quarter and issuing a weaker-than-expected full-year forecast. Despite better-than-expected earnings for the fourth quarter, Pfizer also raised its full-year forecast for sales of its Covid-19 vaccine.

Harley's stock price increased by 8.3% following the company's announcement of an unexpected profit and better-than-expected revenue for its latest quarter. Despite predictions of a 38 cents per share loss, Harley reported earnings of 14 cents per share due to increased demand for its more expensive motorcycles.

Chegg's premarket rally of 5.8% was driven by its latest quarter's better-than-expected profit and revenue, as well as its outlook for future performance. The company exceeded expectations by 4 cents per share, with a quarterly profit of 38 cents.

Carrier exceeded earnings estimates by 5 cents per share, achieving quarterly earnings of 44 cents per share. Additionally, revenue surpassed Wall Street predictions. As a result, Carrier stock increased by 1.3% in the premarket.

The stock of the video game developer decreased by 2.1% in premarket trading after it released a weaker-than-anticipated outlook. Additionally, Take-Two failed to meet expectations for "net bookings" in its most recent quarter, which includes sales of both digital and physical products and services.

Nvidia has decided not to proceed with its $66 billion acquisition of Softbank's chip designer Arm due to significant regulatory challenges. Softbank has announced that it will now plan to take Arm public. Nvidia's stock price fell 2% in premarket trading.

Velodyne Lidar's stock price increased by 38.5% in the premarket after the company announced that it would issue a warrant for an Amazon subsidiary to purchase approximately 39.6 million shares.

Grubhub parent company will remove its stock from Nasdaq due to low trading volumes and low share value on Nasdaq. The meal delivery service's stock will still be traded on Amsterdam and London stock exchanges. The stock dropped 3.2% in premarket trading.

Legion Partners Asset Management is advocating for the removal of Guess co-founders Paul and Maurice Marciano from the apparel company's board, citing sexual misconduct allegations against Paul Marciano as a threat to the company's turnaround efforts. The stock price of Guess increased by 1.4% in the premarket.