PepsiCo (PEP)

PepsiCo added 1.2% in premarket trading after reporting an
adjusted quarterly profit of $1.86 per share, 12 cents above estimates. Revenue
also exceeded Wall Street forecasts. The beverage and snack maker also raised
its full-year forecast as consumer demand holds up even as prices rise.

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Gap (GPS)

Shares of the apparel retailer slumped 6.3% in the
premarket after CEO Sonia Syngal stepped down after two years on the job, She
will be replaced on an interim basis by executive chairman and former Walmart
Executive Bob Martin.

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Twitter (TWTR)

Twitter shares have plunged 15.8% over the past two trading days. Twitter sent a letter to Elon Musk saying it did not breach any of its obligations under their takeover agreement and that his effort to back out of the deal was “invalid and wrongful”.

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Peloton (PTON)

Shares of the fitness equipment maker fell 1.8% in
premarket action after it announced that it will fully transition to
third-party manufacturing, expanding its partnership with Taiwan-based
manufacturer Rexon Industrial.

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American Express (AXP)

American Express stock fell 2.6% in premarket trading after Morgan Stanley downgraded the financial services giant to “equal-weight” from “overweight.” The company said the risk of recession is not fully priced into American Express’ stock.

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Dave & Buster’s (PLAY)

Shares of the entertainment-themed restaurant chain gained
1.7% in the premarket after it announced a series of new executive
appointments. It also appointed a new chief operating officer. The changes take
effect on August 1.

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PriceSmart (PSMT)

The discount retailer’s stock shed 4.2% in premarket action
after it reported lower-than-expected earnings despite sales that exceeded
analyst estimates. PriceSmart cited supply chain disruptions and excess
inventory levels prompted by a shift in consumer demand.

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Canoo (GOEV)

Shares of the electric vehicle maker surged 73.4% in
premarket trading after it signed a deal to sell 4,500 delivery vehicles to
Walmart (WMT) for an undisclosed amount. Walmart also has an option to purchase
up to 10,000 units.

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Lennar (LEN)

The home builder’s stock slid 1.7% in the premarket after
JP Morgan Securities downgraded the stock to “neutral” from “overweight” as the
industry faces a number of headwinds, including softening sales and higher
incentives.