Notable Pre-Market Movers: American Express, AutoNation

Here are the latest headlines from companies before the opening bell:

American Express — American Express shares decreased by 3% after reporting lower-than-expected revenue for the previous quarter. However, the company exceeded expectations for earnings per share. For the second quarter, the company reported earnings of $2.89 per share on revenue of $15.05 billion. Refinitiv analysts had predicted per-share earnings of $2.81 on revenue of $15.48 billion.

AutoNation — Despite beating expectations, AutoNation saw its shares slide by 3% after reporting its second-quarter results. The company surpassed both revenue and earnings estimates, with adjusted earnings per share of $6.29 on revenue of $6.89 billion. Analysts had predicted per-share earnings of $5.91 on revenues of $6.78 billion.

Sunnova Energy — BMO downgraded Sunnova Energy to market perform from outperform, causing a 2% decline in its stock. BMO cited the challenging residential solar market and expressed concerns about Sunnova’s debt issuances.

CSX — CSX experienced a 4% decline after missing revenue expectations for the second quarter. The company reported revenue of $3.7 billion, which was lower than the estimated $3.74 billion from Refinitiv. However, earnings per share matched the consensus at 49 cents.

Capital One Financial — Following better-than-expected earnings for the latest quarter, Capital One saw a slight increase in its stock. The company reported adjusted earnings of $3.52 per share, surpassing the Refinitiv estimate of $3.23 per share. However, its revenue fell short of expectations. Total deposits also decreased by 2% at the end of the second quarter.

PPG Industries — Despite reporting strong second-quarter results, PPG Industries saw its stock decline by 2%. The company, known for its paints, coatings, and materials, posted adjusted earnings of $2.25 per share on revenue of $4.87 billion. Analysts polled by StreetAccount expected earnings of $2.14 per share and revenue of $4.84 billion. Additionally, the company raised its earnings guidance for the current quarter and full year.

Intuitive Surgical — Intuitive Surgical experienced a 4% decline after reporting weaker-than-expected systems revenue for the second quarter. The company reported systems revenue of $392.7 million, which fell short of the $415.9 million StreetAccount consensus estimate. Nonetheless, the company exceeded analysts’ expectations with adjusted earnings of $1.42 per share on $1.76 billion in revenue. Analysts polled by Refinitiv had predicted earnings of $1.33 per share on $1.74 billion in revenue.

Knight-Swift Transportation — Knight-Swift’s stock dropped by over 2% after reporting lower-than-expected earnings for the second quarter and issuing weak guidance. The company reported adjusted earnings of 49 cents per share and $1.55 billion in revenue. Refinitiv analysts had predicted 55 cents in earnings per share and a quarterly revenue of $1.60 billion. The company attributed the decline to soft demand and a modest rise in driver turnover.

Scholastic — Scholastic’s stock rose by 6% after exceeding earnings-per-share expectations and announcing a $100 million increase in its share repurchase amount. The publisher posted earnings of $2.26 per share, higher than the forecasted $1.70 by one analyst surveyed by StreetAccount. However, revenue came in lower than expected at $428.3 million, compared to the estimated $541.8 million.

— Reporting by CNBC’s Michelle Fox and Yun Li.