Welcome to Extreme Investor Network, where we provide you with the latest insights and updates on the world of finance. Today, we are taking a look at the companies making headlines before the bell.
Estee Lauder, a renowned beauty company, saw a slight dip of nearly 2% after Bank of America downgraded the stock. This move was influenced by headwinds in the China market and softening demand in the U.S. market. Meanwhile, Applied Materials, a semiconductor equipment company, posted better-than-expected third-quarter earnings, with earnings of $2.12 per share and revenue of $6.78 billion.
JD.com, the Chinese e-commerce giant, reported a second-quarter revenue beat, driven by price cuts that attracted conscious consumers. Their second-quarter profit rose significantly, exceeding analyst expectations. Microchip Technology also saw a rise in its shares after an upgrade by Piper Sandler, projecting a surge of over 20% in the near future.
On the other hand, Amcor, a packaging company, experienced a decline in sales in the June quarter, falling short of analyst expectations. Bayer, the German life sciences company, saw a jump of over 11% after winning a legal victory over claims related to its Roundup weed killer. H & R Block, a tax services company, announced a dividend hike and buyback, exceeding earnings expectations and forecasting strong fiscal-year results.
Coherent, an electronic manufacturing stock, gained 3.1% after its fiscal fourth-quarter earnings topped expectations with earnings of 61 cents per share and revenue of $1.31 billion. These are just a few of the companies making waves in the market today.
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