Before the bell, take a look at the businesses making news.
Yummy China The Chinese restaurant group declared new financial targets and outlined plans to expand to 20,000 locations by 2026 during an investor day, and shares increased more than 3% before the market opened.
The AMC Network — After AMC revealed that the equity offering it had previously announced earlier this month had been completed, shares of the movie theatre company soared 5% in premarket trade. According to the corporation, it raised around $325.5 million by selling 40 million shares at an average price of $8.14.
Semtech—The semiconductor stock increased 1% in early trade despite the company’s late-Wednesday prediction for the fiscal third quarter, which calls for a loss of 9 to 22 cents per share on revenue of $190 to $210 million. On $247.7 million in sales over that time period, analysts predicted it would make 12 cents. After adjustments, the company earned 11 cents per share in the second quarter, beating analyst projections of 2 cents per share, according to FactSet.
First Solar — The stock increased by nearly 2% after BMO Capital Markets raised its rating on the firm from market perform to outperform, citing a recent selloff that has given investors an appealing entry point.