Stocks making the biggest moves premarket: Home Depot, Starbucks, Hormel Foods, Chipotle and more

Check out the companies making headlines before the bell. Starbucks , Chipotle Mexican Grill — Shares of the coffee chain popped more than 11% in the premarket after the company replaced its chief executive, Laxman Narasimhan, with Chipotle CEO Brian Niccol . Chipotle shares were down about 10%. Home Depot — Shares fell more than 2% in the premarket after the home improvement retailer warned that sales would be weaker than anticipated in the second half of 2024. The company sees full-year comparable sales to fall by 3% to 4%. Earlier this year, Home Depot guided for a roughly 1% decline. On Holding — Shares of the athletic apparel company dropped 6.5% after a second-quarter results that missed Wall Street expectations. The company reported earnings of 0.14 Swiss francs per share, or about $0.16, below the StreetAccount estimate of 0.16 Swiss francs. However, revenue of 567.7 million Swiss francs was better than the 562.1 million expected. Tencent Music Entertainment Group — U.S.-traded shares of the Chinese streaming company fell nearly 7%. The company reported a 1.7% yearly decline in revenue. Monthly active users in the mobile categories also came in below analysts’ forecasts. Kodiak Gas Services — The natural gas services company dipped 2.7% after posting a year-over-year fall in earnings and a top-line miss. Kodiak posted 6 cents earnings per share, down from 30 cents a year ago, according to StreetAccount. Revenue came in at $309.7 million, missing analysts’ estimates of $311.4 million. Hormel Foods — Shares added 2% after Citigroup upgraded the stock to buy from neutral. The firm cited improving retail sales trends and input cost environment, as well as potential upside to its margins in the turkey segment. B. Riley Financial — Shares were down more than 8% after the financial services company filed to delay its 10-Q SEC document for the second quarter. B. Riley dropped more than 51% on Monday after reports that the company faces a Securities and Exchange Commission probe into its risk disclosures. — CNBC’s Jesse Pound and Fred Imbert contributed reporting