Stock Market

In this article

Check out the companies making headlines before the bell:

Newmont (NEM) – The mining company’s stock slid 3.3% in premarket trading after it reported lower-than-expected second-quarter earnings. Profit was down nearly 41% from a year ago, hurt by a drop in gold prices.

Squarespace (SQSP) – The e-commerce platform provider tumbled 14.4% in the premarket after its full-year revenue guidance fell short of Street forecasts. Squarespace reported better-than-expected results for its latest quarter but said revenue is taking a hit from currency headwinds.

Philips (PHG) – Philips tumbled 10.4% in premarket trading after the Dutch medical equipment maker’s quarterly earnings fell short of analyst forecasts. Philips was affected by lockdowns in China and supply chain issues.

Public Storage (PSA) – Public Storage added 1.5% premarket action after the operator of self-storage facilities declared a special dividend of $13.15 per share. The distribution is related to the sale of PS Business Parks to affiliates of Blackstone (BX) for $7.6 billion. Public Storage had been the largest shareholder in PS Business Parks, whose sale transaction closed last week.

JD.com (JD) – Morgan Stanley calls the Chinese e-commerce company a “catalyst driven idea”, helping its stock rise 2% in premarket trading. The firm thinks the catalyst could be better than expected revenue growth guidance when JD.com next reports earnings in August.

Tesla (TSLA) – Tesla rose 1.3% in premarket action following its latest 10-Q filing, which included an update on the value of its bitcoin holdings. Tesla said it took a $170 million impairment charge related to the carrying value of its bitcoin holdings during the first six months of 2022, but saw a $64 million gain from bitcoin sales during that period.

Ryanair (RYAAY) – Ryanair jumped 5.7% in the premarket after the airline reported better-than-expected quarterly results. Ryanair cautioned that a return to pre-Covid levels of profitability this year was not certain.

Farfetch (FTCH) – Farfetch shares gained 2.5% in premarket trading following reports that the online luxury fashion seller was close to a deal with Switzerland’s Richemont that would see it absorb Richemont-owned fashion retailer YNAP.

Uber Technologies (UBER) – The ride-hailing company admitted to not reporting a 2016 data breach that impacted 57 million drivers and passengers as part of a settlement agreement to avoid criminal prosecution. Uber added 1% in premarket trading.

Articles You May Like

Trump’s donor numbers fall by 200,000 compared with 2019
Israel unveils plan for complete postwar control of Gaza
Analysts see positives in healthcare as planned issuance rises
‘Who’s going to do that?’: Trump faces hurdles in securing appeal bond for fraud case
Berkshire Hathaway operating earnings jump 28% in the fourth quarter, cash pile surges to record