A crew member from the “Clean Team” at Six Flags Great Adventure disinfects the Wonder Woman: Lasso of Truth ride every 30 minutes.
Photo by Kenneth Kiesnoski for CNBC
Discover the noteworthy companies in premarket trading.
UBS — The stock of this Swiss bank rose by 4.6% before the market opened, following the news that UBS terminated a $10 billion loss protection agreement and a public liquidity backstop with Credit Suisse. UBS also confirmed that Credit Suisse fully repaid a 50 billion Swiss franc emergency liquidity loan to the Swiss National Bank.
Six Flags — The stock of this amusement park declined by 2.5% after falling short of second-quarter estimates. The company reported adjusted earnings of 25 cents per share on $444 million in revenue, while analysts surveyed by Refinitiv projected 78 cents and $459 million.
Maxeon Solar Technologies — The stock of this clean energy company plummeted by 26% in premarket trading due to weakening demand. Second-quarter revenue of $348.4 million missed the guidance range that began at $360 million. Maxeon stated that it anticipates revenue to be between $280 million and $320 million in the third quarter, citing high interest rates as one of the reasons for the decline in demand.
Savers Value Village — The stock of this thrift store retailer climbed nearly 6% following an earnings beat. The company achieved adjusted earnings per share of 22 cents on $379 million in revenue, surpassing the FactSet projection of 17 cents and $375 million.
Flowers Foods — The stock of this baked goods company increased by 2.4% after outperforming expectations in the second quarter. Flowers Foods achieved an adjusted earnings per share of 33 cents on $1.23 billion in revenue, while Refinitiv estimated 28 cents and $1.2 billion.
Archer Aviation — Shares of this company surged by almost 23% after Archer settled a lawsuit with Boeing over an autonomous flying dispute. Archer recently completed a $215 million equity investment round, with contributions from United Airlines and Cathie Wood’s Ark Investment Management.
IonQ — The stock of this computing hardware firm rose by 8.2% after reporting a larger-than-expected quarterly loss and lower revenue. However, IonQ raised its booking guidance to a range of $49 million to $56 million.
— Reporting by CNBC’s Jesse Pound.
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