TSLA, SG, AVAV, HAS and more
Check out the companies making headlines before the bell. Tesla — The electric vehicle maker shed 6% after President Donald Trump suggested that the U.S. Department of Government Efficiency look at subsidies for Tesla CEO Elon Musk ‘s companies for potential cost-cutting measures. Trump’s comments came after Musk again criticized the president’s tax-and-spending bill . AeroVironment — Shares slipped more than 7% after the defense contractor announced proposed offerings of $750 million in common stock and $600 million in convertible senior notes due 2030. Hasbro — The toymaker added 2% following an upgrade to buy from neutral at Goldman Sachs. The bank said that new sets from Magic: The Gathering could help boost Hasbro’s sales. Hyatt Hotels — Shares gained 2% after Raymond James upgraded the hotel chain to a strong buy from market perform. As a catalyst for the upgrade, the bank pointed to Hyatt’s Monday announcement that it had entered an agreement to sell the entirety of its Playa-owned real estate , removing a “significant overhang.” Textron — The industrial manufacturer fell 2% after Goldman Sachs downgraded the name to neutral from buy, citing Textron’s market share losses in the business jet segment alongside limited growth in others. Sweetgreen — Shares slid 3% after TD Cowen downgraded Sweetgreen to hold from buy. The firm said it likes Sweetgreen’s long-term prospects but said there are risks to the salad chain this year and next given rising competition in urban areas. Joby Aviation — Shares of the electric aviation stock rose 1% in Tuesday’s premarket. That follows Monday’s rally of more than 11% after the company delivered its first flying taxi to the United Arab Emirates ahead of a planned 2026 service launch. Progress Software — The business application software maker slipped almost 4% after reporting mixed second-quarter results. Revenue came in at $237.4 million, shy of the $237.5 million consensus estimate, per FactSet. Its adjusted earnings were $1.40 per share, above the $1.30 a share expected from analysts. Circle Internet Group — The stablecoin issuer added nearly 2% after submitting a bank charter application to the Office of the Comptroller of the Currency. If the bank charter is granted, Circle plans to establish the First National Digital Currency Bank and offer blockchain-related custody services. — CNBC’s Michelle Fox, Alex Harring and Sarah Min contributed reporting.
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