Check out the companies making headlines before the bell. Ulta Beauty — Shares of the beauty retailer popped a whopping 13% in premarket trading after a regulatory filing revealed that Warren Buffett’s Berkshire Hathaway took a stake worth $266 million in the second quarter. The bet is relatively minor for Berkshire, whose equity portfolio is worth more than $300 billion, so it’s possible Buffett lieutenants Ted Weschler and Todd Combs are behind the stake. Walmart — The stock surged 7% after the retailer surpassed Wall Street’s top-and-bottom line expectations and lifted its full-year guidance, citing healthy consumers. The company posted adjusted earnings of 67 cents per share on $169.34 billion in revenue. Cisco Systems — Shares gained 6% after the networking company topped Wall Street’s fiscal fourth-quarter estimates and announced plans to layoff 7% of its workforce. The company said it is undertaking a restructuring plan that will contribute to $1 billion in pretax charges to its financial results. Tapestry — The owner of Coach and Stuart Weitzman saw shares rise 5% on strong quarterly results. Earnings came in 4 cents above estimates. Tapestry also topped revenue estimates. Nike — The sports apparel company’s stock rose more than 4% after Bill Ackman’s Pershing Square Capital Management disclosed that it bought the stock during the second quarter. Pershing Square had more than 3 million shares of Nike at the end of the June, according to a securities filing. Snowflake — The cloud stock slipped 4% on the back of a Wells Fargo downgrade to equal weight from overweight. Wells Fargo said Snowflake’s premium multiple is becoming harder to justify as the company faces headwinds. Lumentum Holdings — Shares of the optical provider soared more than 14% higher on stronger-than-expected fiscal fourth-quarter results. Earnings came in at 6 cents per share, topping a FactSet estimate of 2 cents per share. Revenue also beat expectations. Alibaba — The Chinese internet giant slid about 4% after Alibaba’s most recent quarter missed expectations . Revenue came in at 243.24 billion Chinese yuan ($34.01billion), lower than the 249.05 billion yuan expected by analysts, according to LSEG. Net income of 24.27 billion yuan missed the 26.91 billion yuan consensus estimate. Deere — The manufacturer of agricultural machinery rose 2.5%. Deere topped Wall Street’s fiscal third-quarter estimates, posting earnings of $6.29 per share on $11.39 billion in revenue. That surpassed the $5.63 per share on $10.84 in revenue expected by analysts polled by LSEG. Robinhood — Robinhood added 2% after Deutsche Bank upgraded shares to a buy rating , citing an attractive entry point following the recent sell-off and earnings revisions. Nucor — The steelmaker’s stock edged up about 1% after Morgan Stanley upgraded shares to overweight , citing strong earnings growth potential in 2025 and 2026. Dutch Bros — Shares of the coffee chain moved 3% higher following an upgrade at UBS to buy from neutral. The bank said concerns over Dutch Bros slowing growth appear overblown and sees “energizing growth potential” for the stock. — CNBC’s Yun Li, Alex Harring, Jesse Pound, Sarah Min and Michelle Fox contributed reporting
Source: www.cnbc.com