Pre-Bell｜Stock Futures Inched Higher After US GDP Expands At Revised 3.3% Rate; Snowflake Up 14%; Pure Storage Up 13%; DiDi Down 5%

Stock futures inched higher on Thursday as U.S. Q2 GDP growth, annual rate, revised to +3.3% Q/Q from the initial estimate of 3.0%, the Commerce Department's Bureau of Economic Analysis said on Thursday. The measure compares with the 3.1% consensus estimate and contrasts with the 0.5% decline in Q1 2025, which reflected larger than usual imports.

Market Snapshot

At 08:46 a.m. ET, Dow E-minis were up 68 points, or 0.15%, S&P 500 E-minis were up by 4.5 point, or 0.07%, and Nasdaq 100 E-minis were up 11.5 points, or 0.05%.

Pre-Market Movers

Chinese ride-hailing giant DiDi Global Inc. fell 5% after reporting a second-quarter net loss of 2.5 billion yuan ($350 million)on Thursday, despite revenue rising 10.9%. The loss was largely due to a one-time provision of 5.3 billion yuan for a previously disclosed shareholder class action lawsuit.

Wynn Resorts — The casino operator gained 2% following an upgrade from UBS to buy from neutral. The bank raised its Macao estimates and cited a more bullish view on Wynn’s Al Marjan resort in the United Arab Emirates as additional catalyst.

International Paper — The paper stock added 2% following an upgrade to buy from neutral at Bank of America. While the bank still expressed caution over existing operation risk, analyst George Staphos said that pricing would drive higher estimates in 2026.

Dollar General — Shares popped 6% after the discount retailer reported a second-quarter earnings and revenue beat. The company also raised its full-year earnings and revenue growth guidance. Other discounters like Five Below, Ollie’s Bargain Outlet and Dollar Tree also rose in tandem.

$Five Below — The discount retailer jumped 4% after posting a second-quarter earnings and revenue beat. Five Below also forecast third-quarter earnings and revenue above analysts’ expectations. Additionally, the company raised both its third-quarter and fiscal year earnings and revenue guidance.

Snowflake — Snowflake stock rallied 14% after the data cloud and artificial intelligence company posted second-quarter adjusted earnings of 35 cents per share on revenue of $1.14 billion. Analysts polled by LSEG had expected profit of 27 cents per share and revenue of $1.09 billion. The company also raised its fiscal year product revenue guidance,

NetApp — Shares stumbled 9% after the intelligent data infrastructure company posted fiscal first-quarter earnings of $1.55 per share came in just 1 cent above what analysts polled by LSEG had penciled in. NetApp’s $1.56 billion revenue just barely beat the expected $1.55 billion. NetApp’s forward outlook came in line with forecasts.

CrowdStrike — The cybersecurity provider slipped 3% after its second-quarter non-GAAP operating margin of 21.8% came in below the 23.5% figure from a year ago, according to FactSet. CrowdStrike also forecast that its third-quarter revenue would come in between $1.21 billion to $1.22 billion, while the LSEG consensus estimate called for $1.23 billion. However, CrowdStrike’s second-quarter results topped Wall Street’s estimates.

Urban Outfitters — Shares fell 4% despite the apparel retailer posting second-quarter earnings of $1.58 per share, while analysts polled by FactSet had expected $1.48. Urban Outfitter’s $1.50 billion revenue was also higher than FactSet’s $1.48 billion consensus.

Pure Storage — Shares jumped 13% following the data management company’s beat on the top and bottom lines. Pure Storage’s adjusted earnings for the second quarter were 43 cents per share, above the 39 cents expected from analysts polled by LSEG. Revenue was $861 million, versus the $847 million consensus estimate.

Nutanix Inc. — The cloud computing stock declined 7% despite posting a fiscal fourth-quarter earnings and revenue beat. Nutanix expects current-quarter revenue to come in between $670 million to $680 million, while an LSEG estimate called for $679 million.

The Cooper Companies — Shares of the global medical device company tumbled 13% after the Cooper Companies issued disappointing fourth quarter revenue guidance, though it did meet expectations in its most recent quarter. Cooper Companies expects revenue in a range between $1.049 billion to $1.069 billion in the fourth quarter, far below the $1.09 billion expected by analysts, according to FactSet.

Dick's Sporting Goods — Shares fell 2%. However, the retailer beat expectations for both lines in the second quarter and hiked its full-year outlook.

Bath & Body Works Inc. — The fragrance and candle retailer shed 7% after posting second quarter adjusted earnings of 37 cents per share, missing the 38 cents analysts polled by LSEG had penciled in. Bath & Body Work’s $1.55 billion revenue was in line with expectations.

Shares of Veeva Systems were down 3.6% after the cloud-solutions company posted better-than-expected second-quarter adjusted earnings and said it anticipates third-quarter adjusted profit of $1.94 to $1.95 a share, topping consensus estimates of $1.89.

HP Inc. was down 1.4%. The computer-products company's fiscal third-quarter earnings matched Wall Street expectations as revenue rose 3.1% to $13.9 billion and topped analysts' projections. HP said it expects strong demand for AI-powered personal computers in the months ahead. The company said it anticipates fourth-quarter adjusted earnings of between 87 cents and 97 cents a share, compared with estimates of 92 cents.

Li Auto's American depositary receipts fell 4.3% after the Chinese electric-vehicle maker reported second-quarter adjusted earnings and revenue that missed analysts' estimates. Quarterly deliveries were 111,074 vehicles, below the consensus call of 124,700.

Market News

Tesla sales plunge 40% in Europe as Chinese EV rival BYD’s triple

Sales of Tesla cars in Europe plunged in July, in the company’s seventh consecutive month of declines, while Chinese rival BYD saw a monthly surge, data released on Thursday showed.

New car registrations of Tesla vehicles totaled 8,837 in July, down 40% year-on-year, according to the European Automobile Manufacturers Association, or ACEA. BYD meanwhile recorded 13,503 new registrations in July, up 225% annually.

Berkshire raises stake in Japan's Mitsubishi above 10%

Berkshire Hathaway, through its wholly owned unit National Indemnity Company, has raised its stake in Japan's Mitsubishi Corp and Mitsui & Co, the companies said on Thursday.

Berkshire raised its stake in Mitsubishi to 10.23% from 9.74% previously, the company said in a market disclosure. A Mitsui official confirmed Berkshire raised its stake, but declined to give a percentage.

Its prior stake in Mitsui was 9.82%.