Before the bell rings, know about the companies that make headlines:
newmont (NEM) — The mining company’s stock slipped 3.3% in premarket trading after it reported lower-than-expected second-quarter earnings. The gains were nearly 41% lower than a year ago, hurt by the fall in gold prices.
squarespace (SQSP) — The e-commerce platform provider posted a 14.4% decline 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 being impacted by currency headwinds.
PHILIPS (PHG) — Philips posted a 10.4% decline in premarket trading after the Dutch medical device maker’s quarterly earnings fell short of analyst forecasts. Philips was affected by the lockdown and supply chain issues in China.
public storage (PSA) – Public Storage added 1.5% premarket action after the operator of the self-storage facilities announced a special dividend of $13.15 per share. The distribution relates to the sale of PS Business Parks. black Stone (BX) in $7.6 billion. Public Storage was 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 Catalyst could deliver better than expected revenue growth guidance when JD.com next reports earnings in August.
Tesla (TSLA) — Tesla surged 1.3% in premarket action after its latest 10-Q filing, which included an update on the value of its bitcoin holdings. Tesla said it took an impairment charge of $170 million related to the carrying value of its bitcoin holdings during the first six months of 2022, but saw a $64 million profit from the sale of bitcoin during that period.
Ryanair (RYAY) — 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) — Shares of Farfetch rose 2.5% in premarket trading after reports that the online luxury fashion seller was close to a deal with Switzerland’s Richemont, which would see it absorb Richemont-owned fashion retailer YNAP.
Uber Technologies (UBER) — The ride-hailing company admitted not to report a 2016 data breach that affected 57 million drivers and passengers as part of a settlement agreement to avoid criminal prosecution. Uber added 1% to premarket trading.