Check out the companies making headlines in premarket trading. Li Auto — Shares fell about 2% following JPMorgan’s downgrade of the Chinese electric vehicle company to neutral. Analyst Nick Lai cited stiff competition as a reason for caution. Tapestry — The Coach New York and Kate Spade parent sank more than 10% after its full-year outlook missed analyst estimates. Tapestry forecast full-year earnings of $5.30 to $5.45 per share, while analysts polled by FactSet were looking for $5.49. Deere — The farm equipment maker dropped about 6% after Deere trimmed the top end of its full-year outlook. The Moline, Illinois-based manufacturer forecast net income of $4.75 billion to $5.25 billion, versus a previous forecast of $4.75 billion to $5.50 billion. Ibotta — The tech company plummeted more than 34% after second-quarter results missed analyst estimates. Ibotta earned 8 cents per share, below the 19 cents per share that analysts surveyed by LSEG estimated. Ibotta reported revenue of $86 million, below analysts’ forecast of $90.5 million. Coherent — The semiconductor maker fell more than 19% after its fiscal fourth-quarter non-GAAP operating margin totaled 18.0% against a FactSet consensus estimate of 18.2%. A fiscal first-quarter earnings per share forecast excluding one-time ite …
