Check out the companies making headlines before the bell: Palantir Technologies — The data analytics company rallied 11% after raising its full-year revenue forecast. Palantir now sees revenue between $2.74 billion and $2.75 billion. That’s up from a range of $2.68 billion to $2.69 billion. Yum China — Shares surged 8% after the Shanghai-based operator behind Pizza Hut and Taco Bell posted second-quarter earnings that beat expectations. Adjusted earnings of 55 cents per share topped the 47 cents per share anticipated by analysts surveyed by LSEG. On the other hand, revenue of $2.68 billion disappointed the consensus estimate of $2.77 billion. Separately, the fast food company announced its finance chief is stepping down. Uber Technologies — Shares popped 6% after the ride-hailing company posted better-than-expected financial results for its second quarter. Earnings came in at 47 cents per share, topping the 31 cents expected from analysts polled by LSEG. Revenue was $10.7 billion, above the $10.57 billion consensus estimate. Caterpillar — The industrial giant popped 3.54% on the back of better-than-expected quarterly results. The company earned $5.99 per share on revenue of $16.69 billion in the second quarter. Analysts expected a profit of $5.54 per share on revenue of $16.68 billion. CrowdStrike — The cybersecurity stock rose 3% after Piper Sandler upgraded the company to overweight from neutral, saying the dip is a buying opportunity. Semiconductors — Chip stocks rose as a group, one day after a brutal sell-off in tech names. Nvidia gained 3%, Super Micro Computer and Broadcom popped 2%, and Intel rose nearly 2%. ZoomInfo Technologies — Shares of the customer acquisition platform company plunged 14% after a second-quarter earnings report that missed estimates. ZoomInfo reported 17 cents in adjusted earnings per share on $292 million of revenue. Analysts surveyed by LSEG had penciled in 23 cents per share and $308 million of revenue. The company also lowered its earnings guidance and announced a change at chief financial officer. Lucid Group — The electric vehicle stock rallied 11% after Lucid’s second-quarter revenue topped estimates. The company reported revenue of $200.6 million, above the LSEG consensus estimate of $192 million. Lucid also reaffirmed previous guidance for vehicle production of roughly 9,000 in 2024. CSX — The stock gained 3.6% after the rail transportation holding company posted stronger-than-expected earnings. CSX reported earnings of 49 cents per share in the second quarter, above the 48 cents anticipated by analysts in an LSEG survey. Revenue of $3.7 billion came in line with forecasts. — CNBC’s Michelle Fox, Fred Imbert and Jesse Pound contributed reporting.
Source: www.cnbc.com