Stellantis, Tesla, AstraZeneca Fall Premarket; Exxon Mobil Rises

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Stellantis, Tesla, AstraZeneca Fall Premarket; Exxon Mobil Rises

By Peter Nurse -- Stocks in focus in premarket trade on Tuesday, July 5th. Please refresh for updates.

  • Tesla (NASDAQ: TSLA ) stock fell 1.4% after the electric car manufacturer delivered 17.9% fewer electric vehicles in the second quarter from the previous quarter, as China's COVID 19-related shutdown disrupted its production and supply chain.

  • AstraZeneca (NASDAQ: AZN ) ADRs fell 1.6% after the pharma giant announced plans to acquire U.S. oncology firm TeneoTwo in a deal worth up to $1.27 billion, looking to expand its cancer treatment pipeline.

  • Stellantis (NYSE: STLA ) stock fell 6.2% after a union said the global crunch in semiconductor supply could cost the car maker up to 220,000 vehicles this year in terms of lost output in Italy.

  • HP (NYSE: HPQ ) stock fell 2.5% after Evercore ISI downgraded its stance on the information technology company to ‘in-line’ from ‘outperform’, lowering its earnings estimates with the PC market expected to be difficult later in the year.

  • Warner Bros Discovery (NASDAQ: WBD ) stock fell 2.4% following reports the media and streaming firm's unit, HBO Max, has halted production of original shows in Europe.

  • Occidental Petroleum (NYSE: OXY ) stock rose 1.1% following news that Warren Buffett’s Berkshire Hathaway increased its stake in the energy producer, buying an additional 9.9 million shares, boosting its stake to 17.4%.

  • Exxon Mobil (NYSE: XOM ) stock rose 0.6% after the oil major detailed in a securities filing on Friday that skyrocketing margins from fuel and crude sales could generate a record quarterly profit.

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