Check out the companies making the biggest moves premarket: Tesla — Shares were down nearly 6% after the company reported an earnings miss for the second quarter. Tesla’s free cash flow also turned negative as margins came under pressure. Alphabet — The Google parent fell 4.5% after it increased its capital expenditures outlook for the year to bolster its artificial intelligence capabilities. Alphabet expects to spend between $195 billion and $205 billion in 2026, up from a previous guidance of as much as $190 billion. Lockheed Martin — The defense giant popped 6% after it reported better-than-expected results for the second quarter. Lockheed earned $7.94 per share on revenue of $20.06 billion. Analysts polled by FactSet expected a profit of $7.19 per share on revenue of $19.34 billion. The company also hiked its full-year earnings outlook. IBM — The legacy tech giant reported a profit and revenue for the second-quarter that came in below analyst expectations. This comes after the company last week posted preliminary results that sparked the biggest sell-off in IBM stock history. Texas Instruments — The chipmaker reported second-quarter results that beat the Street. Earnings per share came in at $2.14, exceeding an LSEG forecast of $1.93 per share. Revenue of $5.46 billion topped a consensus estimate of $5.25 billion. Shares were down 3.2%, however. Eli Lilly — The pharmaceutical company said it will apply for approval for a next-generation obesity drug in the first quarter of 2027 after successful outcomes in two late-stage trails. In one trail, adults with obesity and established cardiovascular disease lost 55.8 pounds or up to an average of 22.6% of their weight at 80 weeks, the company said in a release. Shares are down a little over 1%. Comcast — The telecom giant reported an earnings beat for the second quarter while highlighting strength at NBCUniversal ahead of its planned spinoff of the unit. Shares rose slightly in the premarket.
Trending
- Stocks making the biggest moves midday: SNDK, TSLA, NX, AMC
- Sugar is outperforming the stock market this year. What’s driving it
- ‘Poverty doesn’t have to be my reality’: I thought I’d have to rely on Social Security. Then I taught myself how to invest.
- Ant International Gets Brazil Licence for Local, Cross-Border Payments
- Malaysia Stock Market May Extend Friday’s Losses
- ‘It’s not fair’: My twin brother and I were left houses by our parents. Can I make him pay his share for taxes and upkeep?
- Waller steps up to the plate with rationale for rate setting
- Rates roll back across the board; ARM volatility continues
Monday, September 7
