Here’s a look at the companies making headlines in premarket trading: Mission Produce — The avocado producer reported a 24% year-over-year increase in fiscal third-quarter revenue, sending its stock soaring 21.6%. The company reported sales of $324 million, compared with $261.4 million in the same three months a year ago. Rival avocado producer Calavo Growers earned 57 cents per share in the third quarter, higher than analysts’ expectations of 43 cents per share, and doubled its quarterly dividend to 20 cents per share, sending its stock price up 6.5 cents. %. Oracle — The cloud infrastructure platform rose 8% after beating estimates in its fiscal first quarter, reporting adjusted earnings of $1.39 a share on revenue of $13.31 billion, while analysts polled by LSEG had forecast earnings of $1.32 a share. Revenue was $13.23 billion. Boot Barn — Shares of Boot Barn rose 6% after the Western-style retailer provided an update on its recent results at the Piper Sandler Growth Frontier conference. Boot Barn announced preliminary second-quarter consolidated same-store sales growth of 4%. Apple – Shares fell nearly 1% after the European Union’s top court ruled that Apple must pay $13 billion in back taxes. The company previously launched the iPhone 16 and other products at an event in California. Hewlett Packard Enterprise — The technology hardware company’s shares fell more than 5% in premarket trading on plans to sell $1.35 billion in Series C mandatory company convertible preferred stock. Proceeds will be used to fund the acquisition of Juniper Networks. Rubrik — Shares of data management software fell nearly 7% despite beating Wall Street’s quarterly expectations. The company reported a loss of 40 cents per share, worse than expected. Revenue was $205 million, higher than the $196 million expected by analysts polled by LSEG. Patterson-UTI Energy — The oil and gas services provider said it had an average of 107 rigs operating in the U.S. in August, sending shares up more than 7%. Alibaba – The Chinese e-commerce company’s U.S.-listed shares rose more than 2% after Alibaba’s Hong Kong shares were included in a stock connect scheme linking the Shanghai and Shenzhen exchanges. According to Reuters, the move is expected to attract more investment from mainland China. Johnson Controls International — Shares of Johnson Controls International rose nearly 2% after JPMorgan upgraded the stock to buy from neutral. The bank cited the company’s data center business and search for a new chief executive as catalysts. Anheuser-Busch InBev SA — Shares of Anheuser-Busch InBev SA rose 1.7% after the brewer was named the world’s top brewer by Morgan Stanley. The Wall Street bank said that while the stock’s recent performance has been “mixed,” the valuation still has room to grow. Equity Residential – The real estate investment trust rose 1.3% after Wells Fargo upgraded the stock to overweight from equal weight. Wells Fargo said recommendations improved after Equity Residential’s summer earnings beat expectations. —CNBC’s Samantha Subin, Sean Conlon, Lisa Kailai Han, Jesse Pound, Yun Li and Scott Schnipper contributed reporting.
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