Check out the companies making headlines in premarket trading: CarMax — Shares of the used car retailer tumbled 7.7% on the heels of disappointing fiscal fourth-quarter earnings. CarMax recorded 58 cents in earnings per share, missing the consensus estimate of 65 cents in earnings per share from analysts polled by LSEG. U.S. Steel — Shares sank 10.2% after President Donald Trump said he did not want the steelmaker to go to Japan. His comments insinuated that he did not support Nippon Steel's bid for the company. "Magnificent Seven" — Megacap tech stocks pulled back after big runs during the prior session after Trump announced a "pause" on some reciprocal tariffs. Tesla led the way, sliding more than 3% after Wall Street firms cut their price targets on the electric vehicle maker. Nvidia also fell more than 3% after soaring more than 18% in the proceeding session. Apple shares pulled back 3% as well. Meta and Microsoft slipped over 1%. Legacy automakers — Major American carmakers also gave up some of the gains seen during Wednesday's monster rally. Given their plants abroad, automakers are expected to be particularly hard hit by Trump's tariffs. Stellantis dropped more than 8% in premarket trading after surging more than 18% in the prior session. Similarly, Ford and General Motors both slid around 3% before the bell. Banks — Shares of major financial institutions also retreated as the dust settled around Wednesday's market rally. Goldman Sachs and Citigroup each lost more than 2%, while Wells Fargo , JPMorgan and Bank of America all shed more than 1%. Airlines — Despite being some of the biggest winners in Wednesday's session, airlines also traded lower before the bell on Thursday. Delta Air Lines , which led the S & P 500 higher on Wednesday, declined more than 3% in premarket trading along with United Airlines . Southwest ticked slightly lower after jumping more than 15% on Wednesday. Palantir Technologies — Shares fell 3%, pulling back somewhat after a rally in the previous session in which the data analytics software company surged 19%. The retail investor favorite is now more than 21% higher in 2025. Trump Media & Technology — Shares of the Truth Social parent, which got an apparent vote of confidence from President Trump in the previous session, rose 0.7% before the bell. On Wednesday, it saw a rally of more than 21%. Danaher — Shares of the life sciences firm moved 0.8% higher on the back of an upgrade at Barclays to overweight from equal weight. Barclays cited the stock's recent pullback and said its diagnostics stability and bioprocessing momentum is enough to offset any industry weakness. — CNBC's Michelle Fox, Sarah Min and Jesse Pound contributed reporting. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today's dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You'll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
