Check out the companies making headlines before the bell:
Levi Strauss (LEVI) – Levi Strauss rose 3.9% in pre-market after reporting better-than-expected sales and earnings for its latest quarter, helped by higher prices and strong demand for its denim offerings . Levi Strauss also increased its quarterly dividend by 20%.
GameStop (GME) – GameStop fell 5.6% in premarket trading after the video game retailer fired chief financial officer Mike Recupero and told employees in an internal memo it was cutting its workforce, as he was trying to get his business back on track.
Twitter (TWTR) – Shares of Twitter fell 4% in premarket action, following a Washington Post report that Elon Musk’s deal to buy Twitter may be in jeopardy. People familiar with the matter told the newspaper that Musk’s team does not believe Twitter’s numbers on spam accounts are unreliable, although officials defended their numbers in a call with reporters.
Upstart Holdings (UPST) – The lender’s stock plunged 16.3% in premarket trading after saying it would miss already cut financial targets for its second quarter. Upstart indicates a constrained loan market as well as moves in the quarter to convert loans to cash.
Spirit Airlines (SAVE) – Spirit Airlines has again postponed a special meeting of shareholders to vote on its proposed merger with Frontier Group (ULCC), this time until July 15. The postponement comes as Spirit continues talks with Frontier and rival suitor JetBlue (JBLU). Spirit jumped 3.2% in premarket.
Occidental Petroleum (OXY) – Berkshire Hathaway (BRKb) has purchased an additional 12 million shares of Occidental Petroleum, increasing its stake in the energy producer to 18.7%. Occidental gained 2% in premarket stock.
WD-40 (WDFC) – The lubricants maker reported quarterly profit and sales below analysts’ forecasts, impacted by inflationary pressures and a number of global disruptions. Shares fell 10.6% pre-market.
Nu Skin Enterprises (NUS) – Shares of the healthcare products company slipped 4% in premarket trading after giving a softer-than-expected outlook for the current quarter. Nu Skin cited several negative factors, including the Russia/Ukraine conflict, Covid-related factors in China and the general global economic downturn.
Kura Sushi (KRUS) – Shares of the Japanese restaurant chain operator jumped 13% in premarket after reporting a surprise quarterly profit and raising its full-year sales forecast.