Check out the companies making headlines before the bell: Apple — The tech giant’s shares rose more than 1% premarket after it said iPhone sales grew 13% year over year and total revenue grew 10%, marking Apple’s fastest quarterly revenue growth since December 2021. CEO Tim Cook said Apple would “significantly grow” its artificial intelligence investments, adding that it is “open to M & A that accelerates our roadmap.” Amazon — Shares slumped more than 8% after the dominant online retailer issued a disappointing forecast. Amazon said it anticipates current-quarter operating income to range between $15.5 billion and $20.5 billion. Analysts polled by StreetAccount had estimated $19.48 billion. Moderna — Shares fell more than 7% after the vaccine maker lowered the high end of its full-year revenue guidance by $300 million, to $1.5 billion to $2.2 billion from prior guidance of $1.5 billion to $2.5 billion. Moderna beat second-quarter estimates for earnings and revenue. Reddit — The social media platform soared 14% after beating second-quarter earnings expectations. Reddit earned 45 cents per share on revenue of $500 million, while analysts polled by LSEG estimated 19 cents per share on $426 million. Third-quarter guidance calls for $535 million to $545 million in revenue, above the FactSet consensus estimate of $473.3 million. Boot Barn — The retailer of Western wear and cowboy boots climbed 7% after exceeding fiscal first-quarter earnings and revenue estimates. Boot Barn earned $1.74 per share, more than the FactSet consensus estimate of $1.55. Revenue of $504.1 million topped the expected $495.2 million. DXC Technology — Shares rose 2% after the information technology services provider posted fiscal first-quarter earnings and revenue that topped expectations. DXC earned 68 cents per share on revenue of $3.16 billion, while analysts polled by FactSet expected earnings of 62 cents per share on revenue of $3.08 billion. First Solar — The photovoltaic solar technology manufacturer rose almost 3% after its latest earnings and revenue beat the Street’s forecasts. First Solar reported earnings of $3.18 per share, more than the $2.65 per share expected from analysts polled by LSEG. Revenue of $1.1 billion also topped the $1.03 billion forecast. Clorox — Shares gained 1% after the consumer products maker’s latest earnings. Clorox reported adjusted earnings of $2.87 per share on $1.99 billion in revenue. Analysts polled by LSEG expected earnings of $2.21 per share on $1.94 billion in revenue. Monolithic Power Systems — Shares fell 2.8% even after the maker of integrated power products for semiconductors posted second-quarter profit and revenue that topped estimates, and issued third-quarter sales guidance of $710 million to $730 million that was far above the FactSet’s StreetAccount consensus estimate. Topgolf Callaway Brands — The maker of golf sporting goods fell more than 2% after CEO Artie Starrs resigned. Starrs is expected to remain with Topgolf through September 2025. Stryker — Shares fell more than 4% after the medical device maker reported second-quarter profit and revenue that missed the highest estimates on the Street. Stryker also estimated a $175 million hit from higher tariffs on goods from China and Europe. Columbia Sportswear Company — The apparel maker tumbled almost 10% after forward financial guidance missed analysts’ expectations. For the third quarter, Columbia Sportswear expects earnings to come in between $1.00 and $1.20 per share on revenue between $904 million and $922 million, while analysts polled by FactSet had penciled in $1.31 per share on $936.5 million in revenue. The midpoint of the company’s full-year outlook also came up short. Coinbase Global — The crypto trading platform dropped 9% after second-quarter revenue missed expectations, landing at $1.50 billion compared to the LSEG consensus of $1.60 billion. Retail trading volume came in at $43 billion, less than the $48.05 billion estimate from analysts polled by StreetAccount. Eastman Chemical Co. — The Kingsport, Tennessee-based chemical maker slid more than 13% after second-quarter earnings of $1.60 per share missed the FactSet consensus estimate of $1.73 per share. Revenue of $2.29 billion was also below the anticipated $2.30 billion. — CNBC’s Sean Conlon and Yun Li contributed reporting. Correction: Stryker’s second-quarter profit and revenue missed the highest estimates on the Street, but they managed to top consensus estimates.
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Stocks making the biggest moves premarket: AMZN, COIN, RDDT, AAPL
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