Check out the companies making headlines in premarket trading. Eli Lilly — The drug maker’s stock surged 8% in premarket trading after the firm reported second-quarter earnings and revenue that blew past expectations. Eli Lilly also hiked its full-year revenue outlook by $3 billion as sales of its blockbuster diabetes drug Mounjaro and weight loss injection Zepbound spike. Under Armour — The athletics apparel stock popped 6% after posting a surprise profit of 1 cent per share. Revenue came in at $1.18 billion and ahead of estimates. Viatris — The pharmaceutical stock added 2.1% after second-quarter earnings came in slightly better than expected. Viatris earned 69 cents per share, excluding items, on $3.79 billion in revenue. Analysts polled by FactSet anticipated 68 cents and $3.78 billion. Warner Bros. Discovery — The media giant slipped 10.4% after announcing a $9.1 billion write down tied to its TV networks. Warner Bros. Discovery also released revenue for the second quarter that missed analysts’ forecasts. Klaviyo — The marketing platform provider soared 18.4% on the heels of stronger-than-expected earnings. Klaviyo posted 15 cents in earnings per share on $222 million in revenue, while analysts polled by LSEG penciled in just 10 cents a share and revenue at $212 million. Bumble — Shares tumbled 40% after the dating app company issued third-quarter revenue guidance that missed analyst expectations. Second-quarter sales of $269 million were also below an LSEG estimate of $273 million. Dutch Bros — The coffee chain shed 22% after the company said it expects new openings for this year to be at the lower end of a range between 150 and 165. This overshadowed the release of better-than-expected quarterly results. JFrog — The software supply chain stock plunged 26.6% on the back of weak guidance for the third quarter. JFrog told investors to expect earnings per share within a range of 9 cents and 11 cents and revenue between $105 million and $106 million. Analysts polled by LSEG were anticipating 14 cents earned per share and $108 million in revenue. SolarEdge Technologies — The solar power products maker plunged nearly 15.9% as the stock was weighed down by its second-quarter earnings. SolarEdge reported an adjusted quarterly loss of $1.79 per share, which was wider than the loss of $1.58 per share analysts polled by LSEG had called for. The company’s revenue beat analysts’ estimates, however, coming in at $265 million compared to the forecasted $262 million. Fastly — The cloud stock tumbled 18.6% after posting a soft full-year outlook. Fastly said it should lose between 16 cents and 11 cents per share, a range that is mostly worse than the consensus forecast for an 11-cent loss from analysts polled by LSEG. The company said to expect revenue within a range of $530 million to $540 million, well under the Street’s expectation for $558 million. Piper Sandler downgraded the stock to neutral from overweight following the report. Sonos — The stock tumbled 16% after Sonos lowered its fiscal 2024 outlook, citing problems with the rollout of its new app. Otherwise, the maker of speakers and home sound systems posted quarterly results that beat analysts’ expectations. Separately, Morgan Stanley said the lower guidance weakened its investment thesis, though the Wall Street firm maintained an overweight rating on the stock. Lattice Semiconductor — The semiconductor company advanced 1.7% on a Raymond James upgrade to outperform from market perform. Raymond James said traders can take advantage of a cyclical bottom before Wall Street begins improving its outlook for the stock. Topgolf Callaway — The parent of golf-related brands slipped 1.1% following a KeyBanc downgrade to sector weight from overweight. KeyBanc’s call comes after Topgolf Callaway’s earnings report on Wednesday. Celsius Holdings — The energy drink stock slid 4.3% after Bank of America downgraded shares to underperform from neutral. Bank of America said the slowdown in the energy category should have an “outsized” impact on Celsius. — CNBC’s Fred Imbert, Yun Li, Samantha Subin, Pia Singh and Sarah Min contributed reporting
