By Stock Gainers
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Mallinckrodt PLC (MNK) shares surged 9% in premarket trading. The drug maker and distributor announced its openness to proposed transactions from debt holders as it continues to delay a payment under an opioid settlement.
Stock Decliners
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Levi Strauss & Co. (LEVI) shares fell more than 5% in premarket trading. The jeans maker lowered its outlook for the year due to lower-than-expected revenue and margin, as well as foreign exchange factors.
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Shares of XPeng Inc. (XPEV) dropped 1.9%. After being downgraded by a major brokerage, Bocom International, the Chinese electric-vehicle maker’s market expectations for sales of its new G6 model were deemed too optimistic.
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Nikola Corp. (NKLA) stock fell 1.5% in premarket trading. The EV maker’s shareholder meeting has been adjourned until August 3rd as it failed to secure support for a plan to issue new stock.
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Shares of Costco Wholesale Corp. (COST) dropped 0.8% after the retailer’s June sales showed a slight increase, but comparable-store sales fell by 1.4%. U.S. same-store sales experienced a 2.5% decline.
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