Check out the companies making headlines before the bell. Shopify — The e-commerce platform operator popped 14% after posting third-quarter operating income of $283 million, up from $122 million in the same quarter a year ago. Shopify’s revenue of $2.16 billion also came above a FactSet estimate of $2.12 billion. Home Depot — Shares of the home improvement retailer rose 1.7% after the company topped earnings expectations and lifted its full-year outlook. Sales rose more than 6% on a year-over-year basis. Live Nation Entertainment — Shares jumped 5% after the live music and entertainment company posted an earnings beat for the third quarter. Live Nation reported $1.66 earnings per share, topping an LSEG estimate of $1.59 per share. Revenue of $7.65 billion missed consensus estimates calling for $7.75 billion in revenue. Honeywell — Shares rallied 7% after Elliott Management disclosed a $5 billion stake in the industrial giant. In a letter, Elliott also recommended that Honeywell “pursue a separation of Aerospace and Automation. Both entities would be sector leaders and be better positioned to thrive operationally, serve customers and employees, and create long-term value for shareholders,” the investor said. Twilio — Shares moved 1.7% higher following an upgrade at Wells Fargo to overweight from equal weight. The bank said it believes “Twilio can serve as a pick-and-shovel play for the next wave of AI-native front office and communications-powered genAI applications.” IAC — Shares rose 3% on news that IAC its weighing a spinoff of home improvement marketplace Angi. Crypto stocks — Some popular cryptocurrency stocks took a breather Tuesday as bitcoin eased from its fresh highs . Coinbase and Robinhood slipped more than 1% each, while Riot Platforms declined about 4%. Microstrategy gained about 2%. Trump Media & Technology — Shares of Trump’s media company pulled back 4% after rallying nearly 5% during Monday’s trading session. Shares rose more than 4% last week on the heels of the president-elect’s victory. Okta — The security software stock dipped 1.6% after a downgrade to hold from buy at Deutsche Bank. The investment firm said that recent customer feedback on Okta has been mixed and that the company seems to growing slower than Wall Street expects. SentinelOne — Shares rose 1.6% after Deutsche Bank upgraded shares to buy from hold, saying the July outage related to CrowdStrike can help add to SentinelOne’s momentum. The Wall Street firm hiked its price target on the cybersecurity company to $32 from $25, a move that reflects roughly 18% upside from Monday’s close. — CNBC’s Hakyung Kim, Michelle Fox, Lisa Han, Sarah Min and Jesse Pound contributed reporting
