Check out the companies making headlines before the bell:
Coupa – Shares rose 11.6% after the business management software company beat earnings estimates last quarter, and issued strong full-year earnings and revenue guidance. Coupa earned 20 cents per share, compared to estimates of 9 cents per share, according to Refinitiv.
UiPath – Shares fell 22.4% after UiPath released revenue guidance for its third quarter and full year that missed expectations, although the robotic process automation software company beat earnings and revenue expectations in its most recent quarter.
New– The stock fell 5.7% after the Chinese electric car maker It lost $409.8 million in the second quarter, which means a significant increase in losses. Nio Chief Financial Officer Steven Wei Fang said the company had dealt with cost pressures during the Covid shutdown in April and May.
Newell Brands – Shares fell 5.4% after Newell cut its third-quarter revenue guidance. The parent company behind brands like Yankee Candle and Rubbermaid noted a “much larger-than-expected dip” in orders as consumers deal with inflation.
Pinterest – Pinterest jumped after 4.1% Wolfe Research upgrades its social media inventory to outperformsaying the company can implement long-term user and monetization goals under its new CEO.
charge point – Shares rose 3.3% after that Credit Suisse started ChargePoint coverage with a buy ratingsaying that inventory could rise nearly 50% as the electric car charging station market gets a boost from the inflation-reduction act.
AstraZeneca – Shares fell 2.6% after Morgan Stanley lowered the stock’s credit rating to equal weight overweight, saying the stock had a “more balance” between risk and reward.
“Infuriatingly humble alcohol fanatic. Unapologetic beer practitioner. Analyst.”