Stocks making the biggest moves premarket: Palantir, Caterpillar, Yum China, CrowdStrike and more
Here’s a glance at the top companies making waves in the market before the opening bell:
The data analytics firm saw its shares rise by 11% after it upped its annual revenue projection. Anticipated revenue now stands at between $2.74 billion and $2.75 billion, a hike from a previously expected range of $2.68 billion to $2.69 billion.
The Shanghai-based firm steering Pizza Hut and Taco Bell witnessed its shares jump 8% following a Q2 earnings report that exceeded expectations. Yum China reported adjusted earnings per share of 55 cents, surpassing the predicted 47 cents. However, its revenue of $2.68 billion fell short of the projected $2.77 billion. In other news, the company also declared the departure of its chief financial officer.
The ride-hailing service saw its shares climb 6% on the heels of impressive Q2 financial results. Earnings were reported at 47 cents per share, beating the 31 cents that analysts expected. Revenue stood at $10.7 billion, surpassing the $10.57 billion estimate.
The heavy machinery manufacturer saw its shares rally 3.54% following a stellar quarterly report. The company earned $5.99 per share, beating the anticipated $5.54 per share.
Shares of the cybersecurity firm went up 3% after Piper Sandler upgraded CrowdStrike’s status to overweight from neutral, citing the drop as a chance to buy.
Semiconductors
Chip stocks, as a whole, bounced back a day after a tech sell-off. Nvidia, Super Micro Computer and Broadcom all saw a rise in shares by 3%, 2%, and 2% respectively. Intel also saw a slight 2% increase.
Shares of the customer acquisition platform firm nosedived 14% after Q2 earnings fell short of expectations. The company also announced a change in CFO and lowered its earnings guidance.
The electric vehicle stock rallied 11% after the company’s Q2 revenue outperformed estimates. They also reaffirmed their previous vehicle production target of approx. 9,000 in 2024.
Shares for the rail transportation holding company rose 3.6% after the company reported superior-than-expected earnings. Revenue of $3.7 billion aligned with expectations.
