Check out the companies making headlines in premarket trading: Auto stocks — Shares of major automakers dropped after President Donald Trump announced a 25% tariff on all cars not made in the U.S. that will go into effect next week. General Motors slid more than 6%, while Stellantis lost 1%. GameStop — The video game retailer fell 7% in premarket trading, set to give back some of the 11.7% rally seen in the previous session. The decline came after the company announced plans to raise $1.3 billion in debt to buy bitcoin. Earlier this week, GameStop said its board has unanimously approved a plan to buy bitcoin with its corporate cash, echoing a move made famous by MicroStrategy . Jefferies — The bank stock fell 3.8% after the company posted earnings of 57 cents per share on $1.59 billion in revenue for the first fiscal quarter, marking a decline from the year-earlier period. Nvidia — Shares of the artificial intelligence darling and megacap technology company ticked 1.7% lower. Reuters reported that H3C, one of the largest server makers in China, warned of possible shortages of Nvidia’s H20 chip in a note to clients. Alibaba — U.S.-listed shares of the Chinese technology company added 1% after Alibaba launched a new open-source AI model. The model is called “Qwen2.5-Omni-7B” and can be used on edge devices such as mobile phones. Verint Systems — The customer experience stock plunged 10.2% after posting weak fourth-quarter earnings and full-year guidance. Verint said it earned 99 cents per share, excluding items, on revenue of $254 million, while analysts polled by LSEG had penciled in $1.27 in earnings per share and $277 million in revenue. Advanced Micro Devices — The semiconductor stock slid 3.4% on the heels of Jefferies’ downgrade to hold from buy. Jefferies cited rising competition as one reason for concern. Liberty Energy — The energy services company added 2% after Morgan Stanley upgraded the stock to overweight from equal weight. The bank said Liberty Energy is an attractive play on power demand growth. UBS Group — The U.S.-traded shares of the Swiss bank fell nearly 2% after Bank of America downgraded the company to underperform from neutral. Bank of America said in a note to clients UBS has downside risk from regulatory changes in Switzerland. — CNBC’s Yun Li, Michelle Fox 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!