Premarket Stock Moves: Eli Lilly, Under Armour, Warner Bros

Eli Lilly's stock experienced an impressive 8% surge in premarket trading following the company's second-quarter earnings report, which significantly exceeded expectations. The pharmaceutical giant raised its full-year revenue forecast by $3 billion, driven by robust sales of its diabetes medication Mounjaro and the weight loss injection Zepbound. In contrast, Viatris reported earnings of 69 cents per share on $3.79 billion in revenue, while Klaviyo outperformed expectations with earnings of 15 cents per share on $222 million in revenue, surpassing analyst predictions. In stark contrast, Bumble's shares plummeted 40% after the dating app's third-quarter revenue guidance fell short of analyst forecasts. Similarly, Dutch Bros saw a 22% decline in its stock price after announcing that new store openings for the year would be at the lower end of its projected range. JFrog's earnings guidance also disappointed, with expected earnings per share between 9 and 11 cents, below the anticipated 14 cents, while revenue forecasts were slightly lower than expected. SolarEdge reported an adjusted quarterly loss of $1.79 per share, exceeding the anticipated loss of $1.58, although its revenue of $265 million did surpass forecasts. Fastly's stock tumbled 18.6% after it issued a weak full-year outlook, prompting Piper Sandler to downgrade the stock. Meanwhile, Topgolf Callaway's shares slipped 1.1% following a downgrade from KeyBanc.