CrowdStrike

was down 13%, building on a loss of 11% on Friday, after a software update from the cybersecurity company caused outages for millions of

Microsoft

Windows user across the globe. Flight cancellations caused by the outage continued through the weekend. At least three Wall Street analysts downgraded the stock.

CrowdStrike
’s

decline Monday was its largest percentage decrease since Nov. 30, 2022, when it fell nearly 15%, according to Dow Jones Market Data. Microsoft said Saturday it estimates about 8.5 million computers worldwide were disabled by the outage.

Trump Media & Technology Group

fell 1.8% as shares in the parent of Truth Social, which is majority owned by Republican presidential nominee Donald Trump, reacted to the announcement that Biden would be withdrawing from the election in November. The stock had traded higher in the premarket session.

Nvidia

rose 4.6% following a Reuters report that said the chip maker was planning a new artificial-intelligence chip for the Chinese market that would be compatible with U.S. export controls.

Verizon

Communications added 148,000 net retail postpaid phone subscribers in the second quarter, higher than analysts’ estimates. Adjusted earnings in the period of $1.15 a share matched Wall Street predictions but declined from $1.21 a year earlier. Verizon shares, fell 6.3% as operating revenue missed estimates. Revenue from wireless equipment declined as customers put off upgrading their devices.

Tesla

stock was 5.2% higher. The company is scheduled to report its second-quarter earnings on Tuesday after the stock market closes. Wall Street expects earnings of 61 cents a share from the electric-vehicle maker, which reported better-than-expected second-quarter deliveries in early July.

U.S.-listed shares of

Ryanair Holdings

fell 15% after the carrier said it expects airfares this summer will be “materially lower” than last year. The company also reported a first-quarter profit that fell 46% from a year earlier.

Mattel

surged 15% following a Reuters report that said private-equity firm L Catterton approached the company with an acquisition offer. The article cited people familiar with the matter.

On Semiconductor

gained 5.4%. The company said it would provide

Volkswagen

with advanced silicon carbide microchips that the auto maker can use on all of its next-generation electric vehicles.

Starbucks

was down 2.9%. The stock jumped 6.9% on Friday following a report from The Wall Street Journal that said activist investor Elliott Investment Management has accumulated a sizable stake in the coffee chain. Elliott has been pushing

Starbucks

privately on ways to boost its stock price, the Journal reported, citing people familiar with the matter. 

Earnings reports are expected later Monday from SAP, Cadence Design Systems, NXP Semiconductors, Logitech International, and Cleveland-Cliffs.

Companies scheduled to disclose their results later in the week include the following:

Tesla
,

Alphabet
,

Visa
,

Coca-Cola
,

Texas Instruments
,

GE Aerospace
,

Comcast
,

Philip Morris
,

United Parcel Service
,

Lockheed Martin
,

Spotify Technology
,

General Motors
,

Thermo Fisher Scientific
,

International Business Machines
,

AT&T
,

ServiceNow
,

Chipotle Mexican Grill
,

AbbVie
,

Union Pacific
,

Honeywell International
,

RTX
,

Royal Caribbean
,

Bristol Myers Squibb
,

Colgate-Palmolive
,

and

3M
.

Write to Joe Woelfel at joseph.woelfel@barrons.com