Check out the companies making headlines before the bell:
Coupa Software: Shares rose 11.6% after the business management software company beat earnings estimates in its latest quarter and issued strong full-year earnings and revenue guidance. Coupa earned 20 cents per share compared with estimates of 9 cents per share, according to Refinitiv.
UiPath: Shares fell 22.4% after UiPath issued third-quarter and full-year revenue guidance that fell short of expectations, though the process automation software company robotics beat expectations for earnings and revenue in its most recent quarter.
Nio: Shares fell 5.7% after the Chinese electric vehicle maker lost $409.8 million in the second quarter, implying wider losses. Steven Wei Fang, Nio’s chief financial officer, said the company dealt with cost pressures during the Covid shutdowns in April and May.
Newell Brands: Shares fell 5.4% after Newell cut its third-quarter revenue guidance. The parent company behind brands such as Yankee Candle and Rubbermaid cited a “significantly larger-than-expected pullback” in orders as consumers grapple with inflation.
Pinterest: Pinterest rose 4.1% after Wolfe Research upgraded the social media stock to outperform, saying the company can execute on long-term user and monetization goals under its new CEO.
ChargePoint: Shares advanced 3.3% after Credit Suisse initiated coverage of ChargePoint with a buy rating, saying shares could rise nearly 50% as the electric vehicle charging station market receives a boost from the Inflation Reduction Act.
AstraZeneca: Shares fell 2.6% after Morgan Stanley downgraded the stock to match weight from overweight, saying the stock has a “more balanced” risk-return profile.