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 analyst 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 analyst 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 saying it would sell its aerospace and defense business to Advent for $400 million. As a result, the company said its forward outlook does not include roughly $20 million in revenue from its aerospace and defense business, as it expects the sale to close in the current quarter. Coherent also reported better-than-expected fiscal fourth-quarter earnings and revenue. 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.
