Tesla, Occidental Petroleum, Exxon Mobil and extra

Check out the companies that make headlines before the alarm goes off:

Tesla (TSLA) – Tesla delivered 254,695 vehicles in the second quarter, down 17.9% from the first quarter and below what analysts had predicted. China’s Covid-19 shutdown was a major factor in holding back manufacturing activity. Tesla fell 1% in pre-market trading.

Mysterious Oil (OXY) – Occidental rallied 1.3% in money markets following news that Berkshire Hathaway (BRKb) once again added to its stake in the energy producer. Berkshire purchased an additional 9.9 million shares, bringing its ownership to 17.4%.

Exxon Mobil (XOM) – Exxon jumped 1.3% in pre-market trading following its announcement late Friday that second-quarter earnings could top $18 billion. Exxon’s results are being boosted by rising oil and natural gas prices and higher refining margins.

Crocs (CROX) – Crocs jumped 2.4% in pre-sale trading after the casual shoe maker’s stock upgraded to “buy” from “hold” at Loop Capital.

Stellaris (STLA) – Stellantis shares fell 6% in money markets after a union worker report said a worldwide chip shortage could slash the automaker’s output by about 220,000 vehicles. Auto is based in Italy this year. Stellantis produced about 14% fewer cars in the first half of 2022 than in the same period the previous year.

Mining Hecla (HL) – The mining company announced an agreement to acquire the entire Resources Alexco shares it did not own in a stock swap. Hecla will also pay Wheaton precious metal (WPM) $135 million to terminate the joint venture with Alexco. Hecla was up 1% in pre-sales.

HP Inc. (HPQ) – Shares of the computer and printer maker fell 1.9% in pre-market trading after Evercore downgraded the stock to “lined up” from “outperform.” The downgrade comes at a time when demand for personal computers is slowing.

AstraZeneca (AZN) – The drugmaker has announced the acquisition of biotech firm TeneoTwo in a deal that could be worth up to $1.17 million if certain milestones are reached. AstraZeneca fell 1.1% in the currency market.

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