Barclays, Tesla, Intel Rise Premarket; Philips Falls
2022.07.25 15:22
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Monday, July 25th. Please refresh for updates.
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Barclays (NYSE:BCS) ADRs rose 2.4% after the lender published terms to repurchase up to $15 billion of securities sold in breach of U.S. regulations, offering investors an up to 17.3% above face value.
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Intel (NASDAQ:INTC) stock rose 0.8% after the chipmaker announced it will produce chips for Taiwan’s MediaTek (TW:2454), one of the world’s largest chip design firms.
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Tesla (NASDAQ:TSLA) stock rose 1.3% after the electric car manufacturer updated the value of its bitcoin holdings in its latest filing, receiving a $64 million gain from sales during the first six months of 2022.
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Snap (NYSE:SNAP) stock fell 2.2% after Morgan Stanley downgraded its stance on the owner of Snapchat all the way down to ‘underweight’ from ‘overweight’, saying the social media company faces ongoing headwinds to its advertising business.
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Newmont (NYSE:NEM) stock fell 3.3% after the miner reported a 40.8% drop in second quarter adjusted profit hurt by lower gold prices.
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Squarespace (NYSE:SQSP) stock fell 13% after the website builder and hosting service cut its full-year revenue guidance, citing currency headwinds.
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Lam Research (NASDAQ:LRCX) stock fell 1% after Barclays downgraded its stance on the supplier of wafer fabrication equipment to the semiconductor industry to ‘equal weight’ from ‘overweight’, saying a comeback in chip stocks is a ‘head fake’.
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Philips (NYSE:PHG) ADRs fell 10% after the Dutch medical equipment maker reported disappointing quarterly earnings, citing lockdowns in China and supply chain issues.
