Stellantis, Tesla, AstraZeneca Fall Premarket; Exxon Mobil Rises

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.