By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, June 30th. Please refresh for updates.
Wells Fargo (NYSE:WFC) stock fell 1.1% after the bank confirmed late Monday that it will have to cut its third-quarter dividend for the first time in more than a decade after the Federal Reserve’s annual stress test.
Boeing (NYSE:BA) stock fell 1.5% after Norwegian Air Shuttle canceled orders for 97 Boeing aircraft and will claim compensation from the U.S. plane-maker for the grounding of the 737 Max and for 787 engine troubles.
Uber (NYSE:UBER) stock rose 4.6% after making a takeover offer for rival food delivery app Postmates. The deal values Postmates at $2.6 billion, the WSJ reported, in what would be the latest in a series of moves to consolidate the food-delivery industry.
Lululemon (NASDAQ:LULU) stock rose 3.9% after the yogawear maker agreed to buy home exercise startup Mirror for $500 million.
Micron (NASDAQ:MU) stock rose 6.1% after the memory-chip maker said sales surged in the third quarter as the pandemic forces more companies to expand their cloud computing capabilities.
Simon Property (NYSE:SPG) stock rose 7.2%, continuing Monday’s 10% gain after resuming its dividend and announcing that most of its U.S. retail properties have reopened.
Royal Dutch Shell (LON:RDSa) ADR dropped 2.8% after the oil giant warned that the low price of oil could reduce the value of its assets by up to $22 billion. Rival BP (NYSE:BP) wrote down the price of its assets by $17.5 billion earlier this month.
Xilinx (NASDAQ:XLNX) stock rose 6.6% after the semiconductor company increased its forecasts saying the loosening of some restrictions on Chinese companies had helped its business.
- ConAgra Foods (NYSE:CAG) stock rose 1.5% after reporting strong fiscal fourth-quarter figures, benefiting from increased at-home eating as a result of the coronavirus.