Check out the companies making headlines in premarket trading. Tesla — Shares of the electric vehicle firm gained 3%, extending an after-hours pop from Friday after CEO Elon Musk said the company will unveil its long awaited robotaxi design on Aug. 8. Ulta — The cosmetic stock ticked up 1.3% on the heels of an upgrade to buy from Loop Capital , with analyst Anthony Chukumba positing that shares could be due for a rebound after their worst fall since 2020 last week.
On Sunday, the Federal Aviation Administration said a 737-800 operated by Southwest Airlines had to return to Denver Airport after an engine cowling fell off the aircraft mid-flight and hit a wing flap. Taiwan Semiconductor Manufacturing — Shares of the chipmaker climbed 2% after the company's Arizona subsidiary received an offer from the Biden administration for $6.6 billion in funding as part of the CHIPS and Science Act.
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Stocks Decline as Tesla Drops, Rate Cut Timing EyedU.S. stocks fell Tuesday as investors weighed chances that the Federal Reserve could delay cutting interest rates, while Tesla shares dropped after the electric car maker posted fewer quarterly deliveries for the first time in nearly four years.
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