Check out the companies making headlines in pre-market trading. CrowdStrike — Shares of the cloud security platform rose about 2% after upgrading its purchase from HSBC. Analyst Stephen Bersey asserted that the “bad news for CrowdStrike stock is behind us” regarding an outage related to a software update in mid-July. Lululemon — The athleisure stock rose 4.5% after earnings beat estimates. Lululemon’s second-quarter earnings per share were $3.15, beating LSEG’s forecast of $2.93 per share. To be sure, revenue of $2.37 billion was below the consensus of $2.41 billion. The company also lowered its full-year forecast. Abercrombie & Fitch — Shares of the clothing retailer rose 2% after Citi upgraded the stock to buy, with analyst Paul Lejuez arguing that the recent sell-off provides investors with an attractive entry point to buy. Chance. Alibaba – Shares of the U.S.-listed e-commerce company rose after China’s market regulator said Alibaba had completed a three-year regulatory “rectification” process. The company was fined in 2021 as part of an antitrust investigation. Ulta Beauty — Shares of the beauty retailer fell more than 8% in premarket trading after the company missed second-quarter results and lowered full-year guidance due to lower same-store sales. This marks the first time since May 2020 that the company has missed earnings per share estimates and the first time since December 2020 that it has missed revenue estimates. up more than 10%. Marvell now expects adjusted earnings per share of 40 cents on revenue of $1.45 billion, while analysts polled by LSEG expected earnings of 38 cents per share on revenue of $1.40 billion. Intel — Shares of the chipmaker rose more than 3% on news that Intel is working with bankers to explore solutions to recent weakness in its core business. Elastic NV – Shares of Elastic NV fell nearly 29% after the artificial intelligence search company’s fiscal second-quarter revenue outlook missed expectations. Elastic currently forecasts revenue between $353 million and $355 million, while analysts polled by LSEG expected revenue of $361 million. —CNBC’s Hakyung Kim, Yun Li and Jesse Pound contributed reporting
