Check out the companies making headlines before the bell:
Jbeil (JBL) — The contract electronics maker saw its stock rise 1.2% in pre-market trading after beating estimates for both the fourth and fourth quarters. Jabil earned $1.72 per share, 10 cents above estimates, and said it continues to see strong demand from its customers.
commercial metal (CMC) — The metal products maker reported adjusted quarterly profit of $2.61 per share, topping the consensus estimate of $2.02, and revenue also beating Wall Street expectations. Commercial Metals also said it expects an upbeat financial performance for the current quarter amid a strong construction market. The stock rose 4.6% in the pre-market.
Tesla (TSLA) — Tesla fell 3.8% in premarket trading after Reuters reported that Tesla raised prices on its US models amid a jump in raw material prices and supply chain hurdles.
Twitter (TWTR) — Twitter gained 2.3% in pre-market activity after The Wall Street Journal reported that Elon Musk will reiterate his desire to own Twitter at a comprehensive meeting today. Musk has threatened to pull out of the Twitter takeover, accusing the company of withholding information from spam accounts.
Discover Warner Bros. (WBD) — The media company’s stock fell 4% in the primary market after JP Morgan classified the stock as “neutral,” citing a macroeconomic environment that could affect advertising spending.
Kosovo Liberation Army (KLAC) — The semiconductor and electronic equipment maker said it expects adjusted profit for the current quarter of $4.93 to $6.03 per share, compared with a consensus estimate of $5.50. It also announced a $6 billion share buyback program and a 24% dividend increase ahead of Investor Day 2022.
Revlon (REV) — Revlon has filed for Chapter 11 bankruptcy protection as the cosmetics maker grapples with a debt burden of about $3.3 billion. Shares fell 4.4% in Premarket.
Amazon.com (AMZN) — Amazon said its annual “Prime Day” shopping event will take place July 12-13. Last year’s “Prime Day” event generated nearly $3.5 billion in sales. Amazon shares fell 2.8 percent in pre-market trading.
Abbott Laboratories (ABT) — Abbott Inc. said it has halted production of Elicare specialty baby formula at its Sturgis, Michigan, plant after severe storms swamped areas of the plant. Abbott said the floods will likely delay production and distribution by a few weeks, and its stock is down 2% in the primary market.
– CNBC channel Peter Shakir Contribute to the preparation of reports.
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