Tesla, XPeng, Nio rise premarket; AstraZeneca, AMC Entertainment fall
Investing.com -- U.S. futures inched lower at the start of a holiday-shortened week that includes the release of some key economic data, including the monthly employment report.
Here are some of the biggest premarket U.S. stock movers today:
Tesla (NASDAQ: TSLA) stock rose 6.3% after the EV manufacturer announced that deliveries in the second quarter jumped to a record 466,140, in a sign that a decision by boss Elon Musk to slash vehicle prices may be boosting demand.
XPeng (NYSE: XPEV) stock rose 10.9% after the Chinese electric carmaker reported that its second-quarter deliveries rose 27% from the first quarter.
Nio (NYSE: NIO) ADRs rose 5% after the Chinese EV maker reported a surge in June deliveries of 74% on the month.
Apple (NASDAQ: AAPL) stock fell 0.2% after the Financial Times reported that the iPhone maker is cutting its output goals for its mixed reality Vision Pro headset due to the product's complexity.
United Airlines (NASDAQ: UAL) stock fell 0.7% after the carrier announced it would be giving 30,000 frequent flier miles to customers who were most affected by mass travel delays which affected the holiday weekend travel.
AMC Entertainment (NYSE: AMC) stock fell 1.6% after Citigroup reiterated coverage of the movie theater chain with a ‘sell’ recommendation, seeing the potential for almost 50% downside.
AstraZeneca (NASDAQ: AZN) ADRs fell 6.1% after the pharma giant said that its experimental precision drug has shown improvement in slowing the progression of lung cancer in a late-stage trial, however, this disappointed as the update didn’t include the phrase "clinically meaningful.”
Occidental Petroleum (NYSE: OXY) stock rose 0.7%, continuing last week’s healthy gains after Warren Buffett's Berkshire Hathaway (NYSE: BRKa) increased its position in the company.