Check out the companies making headlines before the bell:
Newmont (NEM) – The mining company’s stock fell 3.3% in premarket trading after it reported lower-than-expected second-quarter earnings. Profits fell nearly 41% from a year ago, hurt by a drop in gold prices.
Squarespace ( SQSP ) – The e-commerce platform provider fell 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 fell 1[ads1]0.4% in premarket trading after the Dutch medical device maker fell short of analysts’ forecasts. Philips was affected by shutdowns in China and supply chain problems.
Public Storage ( PSA ) – Public Storage added 1.5% premarket action after the self-storage facility operator 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 the stock rise 2% in premarket trading. The firm believes 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 after its latest 10-Q filing, which included an update on the value of its bitcoin holdings. Tesla said it took a $170 million write-down related to the book value of its bitcoin holdings during the first six months of 2022, but saw a $64 million gain from the sale of bitcoin during that period.
Ryanair (RYAAY) – Ryanair jumped 5.7% in the premarket after the airline reported better-than-expected quarterly results. Ryanair warned that a return to pre-Covid profitability levels this year was not certain.
Farfetch ( FTCH ) – Farfetch shares rose 2.5% in premarket trade following reports that the online luxury fashion retailer 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 failing to report a 2016 data breach that affected 57 million drivers and passengers as part of a settlement to avoid prosecution. Uber added 1% in premarket trading.