Stocks making the biggest moves premarket: H&R Block, Applied Materials, Microchip, JD.com and more
Here’s a sneak peek at companies that are making significant news before the stock market opens.
— The prominent beauty company saw its stocks slip by almost 2% following a downgrade from Bank of America. This was due to challenges in its Chinese market and weakening U.S. demand, impacting the share value.
— Despite revealing positive Q3 results that surpassed expectations, the shares for this semiconductor equipment firm fell by 1.8%. The company reported earnings of $2.12 per share and $6.78 billion in revenue, while predicted earnings were $2.02 per share with a revenue of $6.67 billion.
— The Chinese e-commerce giant’s shares rose by 3% on the back of a strong Q2 revenue performance, primarily driven by pricing strategies that appealed to value-conscious consumers. The company’s Q2 profit soared by 73.7% to 9.36 yuan per share, above the 6.07 yuan anticipated.
— The stock for this semiconductor company climbed by 2.4%. Piper Sandler has upgraded the stock to overweight from neutral, foreseeing a potential rise of over 20% due to various growth factors.
— This packaging company witnessed a 3% drop in shares after reporting lower-than-anticipated sales in the June quarter. The company posted sales of $3.54 billion, falling short of the predicted $3.57 billion.
— Shares of Bayer surged over 11% in the wake of a legal triumph over allegations that its Roundup weed killer led to cancer. It was also claimed that the company violated state law by not including a cancer warning on the Roundup label.
— The tax services firm saw its shares spike by 8.4% after it announced a dividend increase and a $1.5 billion buyback. The company also surpassed earnings forecasts and projected higher-than-expected annual results.
Coherent — The shares for this electronic manufacturing company appreciated by 3.1% after outperforming fiscal Q4 earning projections. Coherent reported earnings of 61 cents per share and $1.31 billion in revenue, surpassing the predicted 60 cents per share and $1.28 billion respectively.
