Check out the companies making headlines in pre-market trading. McDonald’s — The fast-food giant’s second-quarter results fell short of analysts’ expectations, sending shares down slightly in premarket. McDonald’s also said its same-store sales, a key metric for restaurants, were down significantly. Revvity — Shares of Revvity rose 6% after the life sciences company reported second-quarter results that beat expectations. Adjusted earnings per share were $1.22, above the FactSet consensus estimate of $1.12 per share. Revenue of $691.7 million exceeded analysts’ expectations of $690.3 million. Olin — Shares of the chemical products maker rose 1.4% after JPMorgan upgraded its rating to overweight from neutral. The company said Olin’s efforts to stabilize chlorine and caustic prices through low capacity utilization have been successful. Akamai Technologies — Shares of the cloud security company rose 2% after Guggenheim upgraded the stock to a buy rating. The company expects Akamai to leverage its leadership position in the content delivery network business to achieve growth of more than 30%. Bristol-Myers Squibb — The stock fell 1.5% after Barclays downgraded the stock to underweight from equal weight. Barclays said Bristol-Myers Squibb’s gains may have gone too much, too fast – the stock rose 25% in 11 days despite little change in its fundamentals – the company said. Bristol-Myers Squibb reported better-than-expected earnings on Friday and raised its full-year guidance. Tesla — Shares of the electric car maker rose 1.5% after Morgan Stanley analyst Adam Jonas named Tesla the top U.S. auto stock. Tesla replaced Ford, whose shares were little changed before the market opened on Monday. Stellantis — Shares of Stellantis fell 3.6% after Deutsche Bank downgraded its rating to hold from buy. Deutsche Bank said the Chrysler and Dodge maker’s guidance could be at risk as it faces multiple challenges in a tough environment. Coinbase, Microstrategy – Cryptocurrency exchanges and Bitcoin developers followed the digital currency higher, each gaining around 4%. Bitcoin was last up more than 2%. Disney — Shares rose nearly 1% after “Deadpool and Wolverine” performed strongly at the box office. The Marvel movie grossed more than $200 million in its opening weekend, making it the strongest opening ever for an R-rated film. —CNBC’s Samantha Subin, Sarah Min, Michelle Fox and Fred Imbert contributed reporting
