Check out the companies that make headlines before the alarm goes off:
Newmont (NEM) – Shares of the mining company fell 3.3% in pre-market trading after reporting second-quarter earnings that were lower than expected. Profits fell nearly 41% from a year ago due to falling gold prices.
Squarespace (SQSP) – The e-commerce platform provider fell 14.4% in the crypto market after its full-year revenue guidance fell short of Street forecasts. Squarespace reported better-than-expected results for its most recent quarter but said revenue is being hit by currency headwinds.
Philips (PHG) – Philips fell 10.4% in pre-market trading after the Dutch medical device maker’s quarterly earnings fell short of analysts’ forecasts. Philips has been affected by outages in China and supply chain issues.
Public memory (PSA) – The Public Archives added 1.5% pre-market action after the storage facility operator automatically announced a special dividend of $13.15 per share. The distribution is related to the sale of PS Business Parks to affiliates of Slat (BX) for $7.6 billion. Public Storage was once the largest shareholder in PS Business Parks, the sale closed last week.
JD.com (JD) – Morgan Stanley calls the Chinese e-commerce company a “catalyst driving idea,” sending its shares up 2% in pre-market trading. The company thinks the catalyst could be better than expected revenue growth guidance when JD.com reports earnings next August.
Tesla (TSLA) – Tesla rallied 1.3% in pre-market action after filing its latest 10-Q, which included an update on the value of its bitcoin holdings. Tesla says it paid a $170 million loss charge related to the book value of its bitcoin holdings for the first six months of 2022, but raised $64 million from bitcoin sales in the first six months of 2022. that time period.
Ryanair (RYAAY) – Ryanair rallied 5.7% in money markets after the airline reported better-than-expected quarterly results. Ryanair warned that a return to pre-Covid profits this year is uncertain.
Farfetch (FTCH) – Shares of Farfetch rose 2.5% in pre-market trading after reports that the online luxury fashion seller was close to reaching an agreement with Switzerland’s Richemont.
Uber Technologies (UBER) – The ride-hailing company admits it failed to report a 2016 data breach affecting 57 million drivers and passengers as part of a settlement to avoid criminal prosecution. Uber added 1% to pre-market trading.
