See the companies making headlines before the bell: CrowdStrike — The cybersecurity stock fell 4% after Guggenheim downgraded CrowdStrike to neutral from buy, saying the company was unlikely to emerge unscathed from the global outage. Nvidia — Shares rose 2% after Reuters reported, citing people familiar with the matter, that Nvidia is preparing a version of its new Blackwell chips for the Chinese market. The report said they would comply with existing U.S. export controls. Bank of America — The bank’s shares fell more than 1% in premarket trading after a filing revealed that Warren Buffett’s Berkshire Hathaway sold 33.9 million shares of Bank of America for about $1.5 billion last week. Berkshire remains Bank of America’s largest shareholder with a 10.8% stake after the sale. Berkshire could see some gains as the bank’s stock is up 27.4% so far this year. – Verizon — The telecom stock fell 3% after Verizon posted quarterly revenue that missed expectations. In the second quarter, the company reported sales of $32.8 billion, missing the FactSet consensus estimate of $33.05 billion. Adjusted earnings per share of $1.15 were in line with estimates. Abercrombie & Fitch — The retail stock jumped more than 3% after JPMorgan upgraded Abercrombie & Fitch to overweight from neutral, citing strong demand for the brand following marketing improvements in recent years. Truist Financial — The bank’s stock fell 1% as second-quarter earnings fell from a year ago, hurt by lower net interest income, which reduced demand for loans, and a loss on the sale of securities. The bank said adjusted noninterest expenses were higher due to higher staff costs and professional fees. Apple — Shares rose 1% after Wells Fargo raised its price target on Apple to $275 from $225, implying a more than 20% upside, ahead of the company’s earnings results. The Wall Street firm said it expects Apple Intelligence to lead a “significant upgrade cycle” for the iPhone maker. — CNBC’s Alex Haring and Yun Li contributed to the report.
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Stocks Making the Biggest Moves Before the Market Starts: CrowdStrike, Nvidia, and More
