A look at some of the companies in the spotlight before the opening: Palantir Technologies – The data analytics company rose 11% after raising its full-year revenue outlook. Palantir now expects revenue of $2.74 billion to $2.75 billion, up from a range of $2.68 billion to $2.69 billion. Yum China – Shares surged 8% after the Shanghai-based company, which operates Pizza Hut and Taco Bell, reported better-than-expected second-quarter profits. Adjusted earnings of 55 cents a share beat the 47 cents a share expected by analysts surveyed by LSEG. Meanwhile, revenue of $2.68 billion fell short of the consensus estimate of $2.77 billion. Separately, the fast-food company announced that its financial chief would be stepping down. Uber Technologies – Shares surged 6% after the ride-hailing company reported better-than-expected second-quarter financial results. Profits came in at 47 cents per share, beating the 31 cents expected by analysts surveyed by LSEG. Revenues came in at $10.7 billion, beating the consensus estimate of $10.57 billion. Caterpillar – The industrial giant rose 3.54% after better-than-expected quarterly results. The company earned $5.99 per share on revenue of $16.69 billion in the second quarter. Analysts had expected earnings of $5.54 per share on revenue of $16.68 billion. CrowdStrike – Cybersecurity stocks rose 3% after Piper Sandler raised the company’s investment rating to overweight from neutral and said dips represent a buying opportunity. Semiconductor – Chip stocks broadly rose after a day of heavy selling in tech stocks. Nvidia rose 3%, Supermicro Computer and Broadcom rose 2%, and Intel rose nearly 2%. ZoomInfo Technologies — Shares of the customer acquisition platform company plunged 14% after its second-quarter earnings report missed expectations. ZoomInfo reported adjusted earnings per share of 17 cents on revenue of $292 million. Analysts surveyed by LSEG had expected 23 cents per share and revenue of $308 million. The company also lowered its revenue outlook and announced a change in its chief financial officer. Lucid Group — Electric vehicle shares rose 11% after Lucid’s second-quarter earnings beat expectations. The company reported revenue of $200.6 million, beating LSEG’s consensus estimate of $192 million. Lucid also reaffirmed its previous guidance for 2024 vehicle production of about 9,000 units. CSX — Shares rose 3.6% after the rail transportation holding company reported better-than-expected earnings. CSX reported second-quarter earnings per share of 49 cents, beating the 48 cents expected by analysts surveyed by LSEG. Revenue of $3.7 billion was in line with expectations. — CNBC’s Michelle Fox, Fred Imbert and Jesse Pound contributed to this report.
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