Tesla Posts Weak Earnings, Joins Visa, Deutsche Bank And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Tesla, Inc. (TSLA) reported weak earnings for the second quarter, causing its shares to fall sharply in pre-market trading. Other notable stocks experiencing losses include Visa Inc. (V), Deutsche Bank Aktiengesellschaft (DB), Wheels Up Experience Inc. (UP), SFL Corporation Ltd. (SFL), Serve Robotics Inc. (SERV), Geron Corporation (GERN), Kanzhun Limited (BZ), and Alphabet Inc. (GOOGL).
July 24, 2024 | 12:17 pm
News sentiment analysis
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NEGATIVE IMPACT
Kanzhun Limited shares fell 5.8% to $15.00 in pre-market trading.
Kanzhun Limited's stock price decline reflects broader market trends.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Deutsche Bank shares fell 7.5% in pre-market trading following its second-quarter earnings.
Deutsche Bank's second-quarter earnings led to a significant drop in its stock price, reflecting investor concerns.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
NEGATIVE IMPACT
Geron Corporation shares declined 6.9% to $4.30 in pre-market trading after the company announced the departure of CCO Anil Kapur.
The departure of a key executive has led to a decline in Geron Corporation's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Alphabet shares declined 3.2% to $176.00 in pre-market trading despite reporting upbeat earnings and sales results for its second quarter.
Despite positive earnings and sales results, Alphabet's stock price decline may be due to broader market trends or profit-taking.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Serve Robotics shares declined 7.5% to $8.70 in pre-market trading after gaining 7% on Tuesday.
The decline in Serve Robotics' stock price may be a correction following the previous day's gains.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
SFL Corporation shares fell 9.3% in pre-market trading after announcing an offering of 8 million common shares.
The announcement of a large share offering has led to a significant drop in SFL Corporation's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Tesla reported Q2 revenue of $25.5 billion, beating estimates, but earnings per share of 52 cents missed expectations. Vehicle deliveries and production were down year-over-year, leading to a 7.2% drop in pre-market trading.
Despite beating revenue estimates, Tesla's significant miss on earnings per share and decline in vehicle deliveries and production led to a sharp drop in its stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Wheels Up Experience shares dipped 9.8% to $3.00 in pre-market trading ahead of its second-quarter financial results release.
Anticipation of the upcoming financial results has led to a significant drop in Wheels Up Experience's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Visa shares fell 3% in pre-market trading following its third-quarter results.
Visa's third-quarter results led to a decline in its stock price, indicating investor disappointment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80