Stocks Making the Biggest Premarket Moves: Palantir, Caterpillar, Yum China, Crowdstrike and More

Check out the companies making waves before the market opens:

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Palantir Technologies experienced a notable surge of 11% in its stock price following an upward revision of its annual revenue forecast. The data analytics firm now anticipates revenue in the range of $2.74 billion to $2.75 billion, an increase from the previously projected range of $2.68 billion to $2.69 billion.

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Yum China saw its shares jump by 8% after the Shanghai-based company, which operates well-known brands like Pizza Hut and Taco Bell, reported second-quarter earnings that surpassed expectations. The adjusted earnings were 55 cents per share, exceeding the 47 cents per share predicted by analysts surveyed by LSEG. However, its revenue of $2.68 billion fell short of the anticipated $2.77 billion. Additionally, Yum China announced the departure of its finance chief.

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Uber Technologies saw its shares rise by 6% after posting second-quarter financial results that exceeded market expectations. The ride-hailing giant reported earnings of 47 cents per share, significantly higher than the 31 cents per share forecasted by analysts from LSEG. Uber's revenue was $10.7 billion, also surpassing the consensus estimate of $10.57 billion.

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Caterpillar's stock climbed 3.54% in response to better-than-expected quarterly earnings. The industrial heavyweight reported earnings of $5.99 per share on revenue of $16.69 billion for the second quarter. This was above the analysts' expectations of $5.54 per share and revenue of $16.68 billion.

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CrowdStrike saw a 3% increase in its stock price after Piper Sandler upgraded the cybersecurity company's rating from neutral to overweight, citing the recent dip as a buying opportunity.

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Semiconductor stocks rebounded collectively following a significant sell-off in tech shares the previous day. Notable gains included a 3% rise for Nvidia, a 2% increase for both Super Micro Computer and Broadcom, and nearly a 2% uptick for Intel.

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ZoomInfo Technologies experienced a significant decline, with shares plunging 14% after disappointing second-quarter earnings. The customer acquisition platform company reported adjusted earnings of 17 cents per share on $292 million in revenue, falling short of the 23 cents per share and $308 million revenue projected by LSEG analysts. ZoomInfo also revised its earnings guidance downward and announced a change in its chief financial officer position.

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Lucid Group's stock rallied 11% after the electric vehicle maker reported second-quarter revenue that exceeded expectations. The company posted revenue of $200.6 million, surpassing the LSEG consensus estimate of $192 million. Lucid also reaffirmed its previous guidance for producing approximately 9,000 vehicles in 2024.

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CSX saw a 3.6% rise in its stock price after the rail transportation holding company reported stronger-than-expected earnings. CSX announced earnings of 49 cents per share for the second quarter, above the 48 cents anticipated by analysts in an LSEG survey. The company's revenue of $3.7 billion was in line with forecasts.

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