Tesla, Altria, Dow and Toyota Fall Premarket By

© Reuters

By Peter Nurse

-- Stocks in focus in premarket trade on Wednesday, June 22. Please refresh for updates.

• Twitter(NYSE:TWTR) stock fell 1.4% despite the social media giant’s board unanimously recommending that shareholders vote in favor of Elon Musk’s takeover of the company.

• Tesla(NASDAQ:TSLA) stock fell 1.7% after a former elevator operator at the electric car manufacturer’s flagship California assembly plant rejected a $15 million award in his lawsuit, opening the door for a new trial after a judge slashed a $137 million jury verdict.

• Altria(NYSE:MO) stock fell 0.4% and Philip Morris(NYSE:PM) stock fell 0.7% after the Biden administration moved to reduce the nicotine levels in tobacco products, potentially reducing their addictive nature.

• Advanced Micro Devices(NASDAQ:AMD) stock fell 1.7% despite Morgan Stanley resuming coverage of the chip maker with an ‘overweight’ rating, saying it can rise more than 20% despite the industry struggles.

• Lockheed Martin (NYSE:LMT) stock fell 0.7% despite the aerospace company saying it could deliver first F-35 fighter jets to Germany in 2026 and expects more orders for the aircraft in Europe as Greece and the Czech Republic have expressed significant interest.

• Ryanair(NASDAQ:RYAAY) ADRs fell 0.6% after Europe's second-highest court dismissed a legal challenge brought by the Irish discount airline against the EU over millions of euros in state aid provided to rival Finnair.

• Dow(NYSE:DOW) stock fell 4.4% after Credit Suisse downgraded its stance on the chemical company to ‘underperform’ from ‘neutral’, saying the stock will fall from here as earnings normalize.

• Toyota (NYSE:TM) ADRs fell 0.7% after the world’s largest car maker cut its July global production plan by 50,000 vehicles as semiconductor shortages and COVID-19 parts supply disruptions continued to curb output.

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