Business

Newmont, Squarespace, Philips, etc.

Check out the companies that make headlines before the bell:

Newmont (NEM) – Mining company stocks fell 3.3% in premarket trading after reporting lower-than-expected earnings in the second quarter. Profit fell by nearly 41% from a year ago due to falling gold prices.

Squarespace (SQSP) – E-commerce platform providers fell 14.4% in the premarket after full-year revenue guidance fell below street expectations. Squarespace reported better-than-expected results in the last quarter, but said earnings were hit by currency headwinds.

Philips (PHG) – Philips fell 10.4% in pre-market trading after quarterly earnings of Dutch medical device makers fell short of analysts’ expectations. Philips was affected by blockades and supply chain issues in China.

Public storage (PSA) – Public Storage added 1.5% pre-market action after the operator of the Self-Storage Facility declared a special dividend of $ 13.15 per share. The distribution is related to the sale of PS Business Park to an affiliate. Black stone (BX) $ 7.6 billion. Public Storage is the largest shareholder of PS Business Park, and its sale closed last week.

JD.com (JD) – Morgan Stanley calls China’s e-commerce company a “catalyst-driven idea” to help raise stock prices by 2% in pre-market transactions. The company believes that the catalyst could be better than expected revenue growth guidance the next time JD.com reports revenue in August.

Tesla (TSLA) – Tesla rose 1.3% in pre-market action, following the latest 10-Q filing, including a renewal of the value of Bitcoin holdings. Tesla said it incurred $ 170 million in impairment costs related to the book value of Bitcoin holdings in the first half of 2022, but saw a profit of $ 64 million from Bitcoin sales during that period.

Ryanair (RYAAY) – Ryanair surged 5.7% in the premarket after airlines reported better-than-expected quarterly results. Ryanair warned that returning to pre-Covid levels of profitability this year is uncertain.

Farfetch (FTCH) – Farfetch shares rose 2.5% in pre-market transactions following reports that online luxury fashion sellers approached a deal with Swiss Richemont and absorbed Richemont-owned fashion retailer YNAP.

Uber Technologies (UBER) – The ride-hailing company admitted that it did not report a 2016 data breach that affected 57 million drivers and passengers as part of a settlement agreement to avoid criminal charges. Uber added 1% on pre-market transactions.

Newmont, Squarespace, Philips, etc.

Source link Newmont, Squarespace, Philips, etc.

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