Check out the companies making headlines in premarket trading: Li Auto — Shares fell about 2% following JPMorgan’s downgrade of the Chinese electric vehicle company to neutral. Analyst Nick Lai cited stiff competition as a reason for caution. Tapestry — The Coach New York and Kate Spade parent sank more than 10% after its full-year outlook missed analysts’ estimates. Tapestry forecast full-year earnings of $5.30 to $5.45 per share, while analysts polled by FactSet were looking for $5.49. Deere — The farm equipment maker dropped about 6% after Deere trimmed the top end of its full-year outlook. The Moline, Illinois-based manufacturer forecast net income of $4.75 billion to $5.25 billion, versus a previous forecast of $4.75 billion to $5.50 billion. Ibotta — The tech company plummeted more than 34% after second-quarter results missed analysts’ estimates. Ibotta earned 8 cents per share, below the 19 cents per share that analysts surveyed by LSEG estimated. Ibotta reported revenue of $86 million, below analysts’ forecast of $90.5 million. Coherent — The semiconductor maker fell more than 19% after its fiscal fourth-quarter non-GAAP operating margin totaled 18.0% against a FactSet consensus estimate of 18.2%. A fiscal first-quarter earnings per share forecast, excluding one-time items, of 93 cents to $1.13 compared to analysts’ consensus estimate of $1.02 in a range of 89 cents to $1.23, according to FactSet data. Fiscal first-quarter revenue was pegged at $1.46 billion to $1.60 billion against a consensus $1.55 billion. Bullish — Shares surged 14% in extended trading. The stock soared more than 83% on Wednesday, its first day as a public company . Kratos Defense and Security Solutions — Shares gained about 3% after BTIG upgraded the defense stock to buy on Thursday. Analyst Andre Madrid said the company could be a key beneficiary of wider defense budgets. DLocal — The financial technology stock surged more than 23% on the heels of better-than-expected second-quarter earnings and revenue. HSBC upgraded DLocal to buy, with analyst Neha Agarwala noting better cost controls and new products that could drive revenue. — CNBC’s Alex Harring contributed reporting.
