June 24, 2022

Market and Financial News

Market and Financial News Aggregator

Jabil, Commercial Metals, Tesla and more

2 min read

Check out the companies making headlines before the bell:

Jabil (JBL) – The contract electronics manufacturer saw its stock rise 1.2% in premarket trading after beating top and bottom-line estimates for its latest quarter. Jabil earned an adjusted $1.72 per share, 10 cents above estimates, and said it continued to see solid demand from its customers.

Commercial Metals (CMC) – The metal products manufacturer reported an adjusted quarterly profit of $2.61 per share, beating the $2.02 consensus estimate, and revenue also topped Wall Street forecasts. Commercial Metals also said it was anticipating upbeat financial performance for the current quarter amid a strong construction market. The stock rallied 4.6% in the premarket.

Tesla (TSLA) – Tesla fell 3.8% in premarket trading after Reuters reported that Tesla has increased prices on its U.S. models amid a jump in the price of raw materials and supply chain snags.

Twitter (TWTR) – Twitter gained 2.3% in premarket action following a Wall Street Journal report that Elon Musk will reiterate his desire to own Twitter at an all-hands meeting today. Musk has threatened to pull out of his Twitter buyout deal, accusing the company of withholding information on spam accounts.

Warner Brothers Discovery (WBD) – The media company’s stock slid 4% in the premarket after J.P. Morgan rated the stock “neutral,” citing a macroeconomic environment that could impact ad spending.

KLA (KLAC) – The maker of semiconductors and electronics equipment said it expected an adjusted current-quarter profit of $4.93 to $6.03 per share, compared with the $5.50 consensus estimate. It also announced a $6 billion share repurchase program and a 24% dividend hike 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 roughly $3.3 billion. Shares slid 4.4% in the premarket.

Amazon.com (AMZN) – Amazon said its annual “Prime Day” shopping event would be held…

2022-06-16 07:50:00

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