Welcome to Extreme Investor Network, where we bring you the latest updates on the companies making headlines in the world of finance. Today, we’re diving into the premarket movers and shakers to keep you informed and ahead of the curve.
Starbucks made waves by replacing its chief executive with Chipotle CEO Brian Niccol, sending its shares soaring over 11% in premarket trading. On the flip side, Chipotle saw a 10% drop in its shares following the news. Home Depot also experienced a dip, with shares falling over 2% after warning of weaker-than-expected sales in the second half of 2024.
On Holding, the athletic apparel company, saw a 6.5% drop after missing Wall Street expectations in its second-quarter results. However, revenue came in better than expected, providing a silver lining for investors. Tencent Music Entertainment Group, a Chinese streaming company, faced a nearly 7% decline in U.S.-traded shares due to a yearly revenue decline and lower-than-expected mobile user numbers.
Kodiak Gas Services reported a year-over-year earnings decline and missed revenue estimates, causing a 2.7% dip in its shares. Meanwhile, Hormel Foods received a 2% boost after Citigroup upgraded its stock to buy, citing improving retail sales trends and potential margin upside in the turkey segment. B. Riley Financial, however, faced an 8% drop after filing to delay its 10-Q SEC document for the second quarter amidst reports of a SEC probe into its risk disclosures.
Stay tuned to Extreme Investor Network for more updates and insights on the latest market movers and shakers. Our expert analysis and unique perspectives will keep you informed and empowered to make savvy investment decisions. Don’t just follow the news – stay ahead of it with Extreme Investor Network.