Check out the companies making headlines before the bell:
Jabil (JBL) – The contract electronics maker saw its stock rise 1.2% in premarket trading after beating top and bottom-line estimates for its most recent quarter. Jabil earned an adjusted $1.72 per share, 10 cents above estimates, and said it continues to see solid demand from its customers.
Commercial Metals (CMC) – The metal products maker reported adjusted quarterly earnings of $2.61 per share, beating the consensus estimate of $2.02, and earnings also beat Wall Street forecasts. Commercial Metals also said it expects positive financial performance for the current quarter given a strong construction market. The stock is up 4.6% premarket.
Tesla (TSLA) – Tesla fell 3.8% in premarket trading after Reuters reported that Tesla has hiked prices on its US models amid a surge in commodity prices and supply chain issues.
Twitter (TWTR) – Twitter gained 2.3% in premarket action after a Wall Street Journal report that Elon Musk will reaffirm his desire to own Twitter at an all-hands meeting today. Musk has threatened to back out of his Twitter buyout deal, accusing the company of withholding information about spam accounts.
Warner Brothers Discovery (WBD) — The media company’s stock slipped 4% premarket after JP Morgan rated the stock “neutral,” citing a macroeconomic backdrop that could impact adspend.
KLA (KLAC) – The semiconductor and electronic equipment maker said it expects adjusted earnings per share to be in the range of $4.93 to $6.03 for the current quarter, compared to the 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 struggles with a debt load of about $3.3 billion. Shares are down 4.4% premarket.
Amazon.com (AMZN) – Amazon announced that its annual “Prime Day” shopping event will be held on July 12-13. Last year’s Prime Day event generated an estimated $3.5 billion in revenue. Amazon fell 2.8% in premarket trading.
Abbott Laboratories (ABT) – Abbott said it halted production of its specialty baby formula EleCare at its Sturgis, Michigan, plant after severe storms flooded areas of the plant. Abbott said the flooding would likely delay production and sales by a few weeks, and the stock fell 2% premarket.
— CNBC’s Peter Schacknow contributed to the coverage.