See the companies that made news before the bell. Estee Lauder — The beauty company fell nearly 2% after Bank of America downgraded the stock, citing headwinds in the Chinese market. Weaker demand in the U.S. also weighed on the shares, the company added. Applied Materials — Shares of the semiconductor equipment company fell 1.8% despite reporting a better-than-expected third-quarter profit. Applied Materials earned $2.12 per share, excluding items, on $6.78 billion in revenue for the period, while analysts polled by LSEG had forecast a profit of $2.02 per share and $6.67 billion in revenue. JD.com — Shares of the Chinese e-commerce group rose 3% after reporting a second-quarter revenue win, driven by price cuts that appealed to health-conscious consumers. JD.com's second-quarter profit rose 73.7% to 9.36 yuan per share, excluding items, while analysts polled by LSEG expected 6.07 yuan per share. Microchip Technology — Shares rose 2.4%. Piper Sandler raised the semiconductor stock to overweight from neutral, saying the shares are poised to rise more than 20% on “numerous growth levers.” Amcor — Shares of the packaging company fell 3% after it reported sales fell more than expected in the June quarter. Amcor reported $3.54 billion in sales for the quarter, lower than the $3.57 billion analysts expected, according to StreetAccount. Bayer — Shares of Bayer rose more than 11% after the German life sciences company said it had won a legal victory over claims that exposure to Bayer's Roundup weed and lawn killer led to cancer, and that the company violated state law by failing to add a cancer warning to the Roundup label. H&R Block — Shares of the tax-preserving company rose 8.4% after it announced a dividend increase and a $1.5 billion buyback. H&R Block also beat earnings expectations, reporting above-expected fiscal year results. The company earned an adjusted $1.89 per share on $1.06 billion in revenue during the fiscal fourth quarter, higher than expected adjusted earnings of $1.74 per share on $1.03 billion in revenue, according to FactSet. Coherent — The electronics manufacturing company rose 3.1% after fiscal fourth-quarter earnings beat expectations. Coherent earned 61 cents a share, excluding items, on $1.31 billion in revenue for the quarter, while analysts polled by FactSet had forecast 60 cents a share and $1.28 billion, respectively. — CNBC's Jesse Pound, Sarah Min and Hakyung Kim contributed reporting.
