Before the bell rings, know about the companies that make headlines:
jabilo (JBL) — The contract electronics maker saw its stock rise 1.2% in premarket trading after beating top and bottom estimates for its latest quarter. Jabil adjusted $1.72 per share, up 10 cents above estimates, and said it continues to see solid demand from its customers.
commercial metal (CMC) — The metal products maker reported adjusted quarterly profit of $2.61 per share, trailing the consensus estimate of $2.02, and revenue also topped Wall Street’s forecasts. Commercial Metals also said it was expecting an upbeat financial performance for the current quarter amid a strong construction market. The stock rose 4.6 per cent in the premarket.
Tesla (TSLA) – Tesla dropped 3.8% in premarket trading after Reuters reported that Tesla increased prices on its US models amid increased raw material prices and supply chain shocks.
Twitter (TWTR) — Twitter jumped 2.3% in premarket action after the Wall Street Journal reported that Elon Musk would reiterate his desire to own Twitter in an all-hands meeting today. Musk has threatened to pull out of his Twitter buyout deal, accusing the company of withholding information about spam accounts.
Warner Bros. Discovery (WBD) — The media company’s stock slipped 4% in the premarket after JPMorgan rated the stock “neutral,” citing a macroeconomic environment that could impact ad spending.
KLA (KLAC) — The maker of semiconductors and electronics equipment said it expects adjusted current quarter profit of $4.93 to $6.03 per share, compared to the $5.50 consensus estimate. It also announced a $6 billion share repurchase program and a 24% dividend increase ahead of its 2022 Investor Day.
Revlon (REV) — Revlon filed for Chapter 11 bankruptcy protection as the cosmetics maker deals with a debt load of about $3.3 billion. Shares slipped 4.4% in the premarket.
Amazon.Com (AMZN) — Amazon said its annual “Prime Day” shopping event will be held from July 12 to 13. Last year’s “Prime Day” event generated an estimated $3.5 billion in sales. Amazon dropped 2.8% in premarket trading.
Abbott Laboratories (ABT) — Abbott said it was halting production of its Elecare Specialty Baby Formula at its Sturgis, Michigan plant after the plant’s severe storm flooded areas. Abbott said the flooding may have delayed production and delivery for a few weeks, and its stock fell 2% in the premarket.
— CNBC peter shacano Contributed to reporting.