Check out the companies making headlines before the bell. Shopify — The e-commerce platform operator posted operating income of $283 million in the third quarter, a 14% jump from $122 million in the year-ago period. Shopify’s revenue of $2.16 billion also exceeded FactSet’s forecast of $2.12 billion. Home Depot — Shares of the home improvement retailer rose 1.7% after the company reported better-than-expected profits and raised its full-year outlook. Sales increased by more than 6% compared to the same period last year. Live Nation Entertainment — Shares rose 5% after the live music and entertainment company posted its best third-quarter profit. Live Nation reported earnings of $1.66 per share, beating LSEG estimates of $1.59 per share. Revenue was $7.65 billion, below the consensus estimate of $7.75 billion. Honeywell — Shares rose 7% after Elliott Management disclosed a $5 billion stake in the industrial giant. In his letter, Elliott told Honeywell he would “pursue the separation of aerospace and automation. Both companies will become sector leaders, grow operationally, serve customers and employees, and create long-term value for shareholders.” “This will put us in a better position to generate growth,” the investor said. . Twilio — Shares rose 1.7% after Wells Fargo was upgraded from equal weight to overweight. The bank said it believes “Twilio can play a fundamental role in the next wave of genAI applications leveraging AI-native front office and communications.” IAC — Shares rose 3% on news that IAC is considering a spinoff of home improvement marketplace Angi. Crypto Stocks — Some popular crypto stocks took a breather Tuesday as Bitcoin fell from its all-time highs. Coinbase and Robinhood each fell more than 1%, while Riot Platforms fell about 4%. MicroStrategy rose about 2%. Trump Media & Technology — Shares of President Trump’s media company fell 4% after rising nearly 5% during Monday trading. Stocks rose more than 4% last week following the president-elect’s victory. Okta — Security software stocks fell 1.6% after Deutsche Bank downgraded the stock from buy to hold. The investment firm said recent customer feedback on Okta has been mixed and the company’s growth appears to be slower than Wall Street expected. SentinelOne — Shares rose 1.6% after Deutsche Bank upgraded the stock from hold to buy, saying the July outage related to CrowdStrike could help SentinelOne gain further momentum. The Wall Street firm raised its price target on the cybersecurity company to $32 from $25, reflecting an increase of about 18% from Monday’s closing price. —CNBC’s Hakyung Kim, Michelle Fox, Lisa Han, Sarah Min and Jesse Pound contributed reporting
Stocks with the biggest moves pre-market: SHOP, HD, LYV
