Check out the companies making headlines before the market opens. Starbucks, Chipotle Mexican Grill – Shares of the coffee chain rose more than 11% in premarket after CEO Laxman Narasimhan was replaced by Chipotle CEO Brian Niccol. Chipotle shares fell about 10%. Home Depot — Shares of Home Depot fell more than 2% in premarket as the home improvement retailer warned that sales in the second half of 2024 will be weaker than expected. 4%. Earlier this year, Home Depot was expected to fall about 1%. Hold – The sportswear company’s second-quarter results missed Wall Street expectations, sending shares down 6.5%. The company reported earnings of 0.14 Swiss francs per share, or about $0.16, below StreetAccount’s forecast of 0.16 Swiss francs. However, revenue of CHF 567.7 million beat expectations of CHF 562.1 million. Tencent Music Entertainment Group – The Chinese streaming company’s U.S.-listed shares fell nearly 7%. The company reported a 1.7% year-over-year revenue decline. Monthly active users in the mobile category were also below analysts’ forecasts. Kodiak Gas Services — Shares of Kodiak Gas Services fell 2.7% after the natural gas services company reported an annual profit decline and revenue that missed expectations. Kodiak earned 6 cents a share, down from 30 cents a year ago, according to StreetAccount. Revenue was $309.7 million, below analysts’ expectations of $311.4 million. Hormel Foods — Shares of Hormel Foods rose 2% after Citigroup upgraded the stock to buy from neutral. The company cited improving retail sales trends and the input cost environment, as well as potential margin upside in the turkey market. B. Riley Financial — Shares fell more than 8% after the financial services company filed to delay its second-quarter 10-Q filing with the SEC. B. Riley’s stock price fell more than 51% on Monday amid reports that it faces an investigation by the U.S. Securities and Exchange Commission into its risk disclosures. —CNBC’s Jesse Pond and Fred Ebert contributed reporting
