Tesla (TSLA)

Tesla the stock fell 1.6% in the premarket. Tesla is
closing its Silicon Valley office and laying off 200 workers, according to a
report by the Wall Street Journal. The electric vehicle maker is in the middle
of an ongoing effort to reduce headcount and cut costs.

Also Read | Why Fireworks are used for July 4 Celebrations?

Carnival (CCL)

Shares of the cruise line operator plunged 7.8% in
premarket trading after Morgan Stanley slashed the price target to $7 per share
from $13. Morgan Stanley said the price could potentially go to zero in the
face of another demand shock, given Carnival’s debt levels. Rival cruise stocks
also fell in sympathy, with Royal Caribbean (RCL) down 4% and Norwegian Cruise
Line (NCLH) falling 4.6%.

Also Read | Why US added five companies in China to trade blacklist

Nio (NIO)

Nio fell 7% in premarket trading after it denied a report by short-seller Grizzly Research that accused the electric car maker of exaggerating its financial results. The company said the report is without merit and contains numerous errors.

Also Read | Oil prices fall after three-day rally

McCormick (MKC)

The spice maker’s stock plunged 7.3% in the premarket after
the company reported lower-than-expected quarterly results and cut its
full-year outlook. McCormick said it is getting a negative impact from factors
like higher costs, supply chain issues, and unfavorable foreign currency
trends.

Also Read | Indian leaders mourn death of ‘Phantom of Bombay House’ Pallonji Mistry

Bed Bath & Beyond (BBBY)

Shares of the houseware retailer plummeted 10.1% in
premarket action after it announced the departure of CEO Mark Tritton, saying
it was time for a leadership change. Independent director Sue Gove has been
appointed as interim CEO while the search for a permanent replacement is
conducted. Additionally, the company reported a wider-than-expected quarterly
loss.

Also Read | Norway donating rocket launchers to Ukraine: Here’s what we know so far

Upstart Holdings (UPST)

The cloud-based lending company’s stock slumped 9.6% in
premarket action after Morgan Stanley downgraded it to “underweight” from
“equal-weight”. Morgan Stanley cites several factors, including deteriorating
underwriting performance.

Also Read | Crypto news daily: Bitcoin data and price analysis for June 29, 2022

Pinterest (PINS)

Shares of the image-sharing company rose 2.5% in the
premarket after co-founder Ben Silbermann stepped down as CEO and will
transition to the newly created post of executive chairman. He’ll be replaced
by Bill Ready, who had been president of commerce and Google.

Also Read | Tesla and SpaceX CEO Elon Musk’s most controversial and offbeat moments

General Mills (GIS)

General Mills rose 1.6% in the premarket after reporting
adjusted quarterly earnings of $1.12 per share, 11 cents above estimates, with
revenue that also beat Wall Street forecasts. The food producer forecast a full
year below Street estimates amid rising costs and shifting consumer preferences
toward cheaper brands.