Here’s a look at the companies making headlines before the bell: CrowdStrike – The cybersecurity stock comes after Guggenheim downgraded CrowdStrike to neutral from buy, saying the company was unlikely to survive the global cyber outage. down 4%. Nvidia – Nvidia shares rose 2% after Reuters reported that it is preparing a new Blackwell chip for the Chinese market, citing people familiar with the matter. They will comply with current U.S. export controls, the report said. BANK OF AMERICA — Warren Buffett’s Berkshire Hathaway sold 33.9 million Bank of America shares last week for nearly $1.5 billion, a filing showed, sending the bank’s shares down more than 1% in premarket trading. After the sale, Berkshire remains the largest shareholder of Bank of America, holding 10.8% of the shares. Berkshire Hathaway may be taking profits, with the bank’s shares up 27.4% this year. Verizon — Telecom stocks fell 3% after Verizon reported quarterly revenue that missed estimates. In the second quarter, the company reported sales of $32.8 billion, missing the FactSet consensus estimate of $33.05 billion. Adjusted earnings per share were $1.15, in line with expectations. Abercrombie & Fitch — The retail stock rose more than 3% after J.P. Morgan upgraded Abercrombie & Fitch to overweight from neutral, citing strong demand for the brand after improved marketing in recent years. Truist Financial — Shares of the bank fell 1% after second-quarter profit fell from a year earlier as lower net interest income dampened loan demand and a loss on securities sales. The bank said adjusted non-interest expense was higher due to higher employee costs and professional fees. Apple — Shares of Apple rose 1% after Wells Fargo raised its price target to $275 from $225, implying a gain of more than 20% ahead of the company’s earnings report. The Wall Street firm said it expects Apple Intelligence to lead to a “significant upgrade cycle” for the iPhone maker. —CNBC’s Alex Harring and Yun Li contributed reporting.
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