Levi Strauss – After reporting better-than-anticipated sales and profit for its most recent quarter, helped by higher prices and strong demand for its denim offerings, Levi Strauss rallied 3.9 percent in the premarket. Additionally, Levi Strauss increased its quarterly dividend by 20%.
GME GameStop In an effort to turn around its failing business, GameStop fired Chief Financial Officer Mike Recupero and announced in an internal memo that it is laying off staff. As a result, the video game retailer’s stock dropped 5.6 percent in premarket trading.
TWTR, Twitter – Following a Washington Post report that Elon Musk’s deal to acquire Twitter may be in jeopardy, Twitter shares fell 4% in premarket trading. People with knowledge of the situation told the newspaper that Musk’s team doesn’t believe Twitter’s statistics on spam accounts are accurate, despite the fact that representatives defended their data in a call with reporters.
The stock of Upstart Holdings (UPST), a lender, fell 16.3% in premarket trading after it announced it would miss its already-lowered financial goals for the second quarter. Upstart cites efforts made during the quarter to convert loans into cash as well as a limited lending market.
Spirit Airlines (SAVE) – Spirit Airlines has once more postponed until July 15 a special shareholder meeting to consider a proposed merger with Frontier Group (ULCC). Spirit continues to speak with both Frontier and competing suitor JetBlue at the time of the postponement (JBLU). Spirit increased 3.2% before the market opened.
Occidental Petroleum (OXY) – Berkshire Hathaway (BRKb) increased its ownership stake in the energy producer to 18.7 percent by purchasing an additional 12 million Occidental Petroleum shares. Occidental increased by 2% in premarket trading.
(WDFC) WD-40 Due to the effects of inflationary pressures and various global disruptions, the lubricant manufacturer reported quarterly profits and sales that were below analyst expectations. Share shares fell 10.6% in the premarket.
Shares of Nu Skin Enterprises (NUS) fell 4% in premarket trading after the health products company provided less optimistic guidance for the current quarter. The conflict between Russia and Ukraine, circumstances surrounding Covid in China, and the general global economic downturn were among the negative factors listed by Nu Skin.
KRUS: Kura Sushi — After reporting an unexpected quarterly profit and increasing its sales guidance for the entire year, the operator of the Japanese restaurant chain saw a 13 percent increase in its stock price in the premarket.