See which companies made headlines before the bell. Starbucks, Chipotle Mexican Grill — Shares of the coffee chain rose more than 11% in premarket trading after the company replaced its CEO, Lakshman Narasimhan, with Chipotle CEO Brian Niccol. Chipotle shares fell about 10%. Home Depot — Shares fell more than 2% in premarket trading after the home improvement retailer warned that sales would be weaker than expected in the second half of 2024. The company expects full-year comparable sales to fall 3% to 4%. Earlier this year, Home Depot had forecast a decline of about 1%. On Holdings — Shares of the sportswear company fell 6.5% after second-quarter results missed Wall Street expectations. The company reported earnings of 0.14 Swiss francs per share, or about $0.16, below StreetAccount’s estimate of 0.16 Swiss francs. However, revenue of 567.7 million Swiss francs was better than the 562.1 million expected. Tencent Music Entertainment Group — The U.S.-traded shares of the Chinese streaming company fell about 7%. The company reported a 1.7% year-over-year decline in revenue. Monthly active users in the mobile segment also fell short of analysts’ expectations. Kodiak Gas Services — The natural gas services company fell 2.7% after posting a year-over-year decline in earnings and missing its targets. Kodiak reported 6 cents per share, down from 30 cents a year ago, according to StreetAccount. Revenue came in at $309.7 million, missing analysts’ estimates of $311.4 million. Hormel Foods — Shares 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 the potential for higher margins in its turkey segment. B. Riley Financial — Shares fell more than 8% after the financial services company filed a request to postpone its 10-Q filing with the Securities and Exchange Commission for the second quarter. B. Riley fell more than 51% Monday after reports that the company is facing an SEC investigation into its risk disclosures. — CNBC's Jesse Pound and Fred Imbert contributed to this report
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