Tesla Posts Weak Earnings, Joins Visa, Deutsche Bank And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session
U.S. stock futures were lower this morning, with the Nasdaq futures dipping around 200 points on Wednesday.
Shares of Tesla, Inc. (NASDAQ:TSLA) fell sharply in today's pre-market trading following second-quarter results.
Tesla reported second-quarter revenue of $25.5 billion, up 2% year-over-year. The revenue total beat a Street consensus estimate of $24.73 billion, according to data from Benzinga Pro. The company reported earnings per share of 52 cents in the second quarter, down 43% year-over-year. The earnings per share missed a Street consensus estimate of 62 cents per share.
The company reported second-quarter deliveries of 443,956 vehicles and production of 410,831 vehicles, down 5% and 14% year-over-year, respectively.
Tesla shares dipped 7.2% to $228.56 in the pre-market trading session.
Here are some big stocks recording losses in today's pre-market trading session.
- Wheels Up Experience Inc. (NYSE:UP) shares dipped 9.8% to $3.00 in pre-market trading. Wheels Up Experience will release its second quarter financial results on Thursday, Aug. 8.
- SFL Corporation Ltd. (NYSE:SFL) shares fell 9.3% to $12.65 in pre-market trading after the company announced an offering of 8 million common shares.
- Serve Robotics Inc. (NASDAQ:SERV) shares declined 7.5% to $8.70 in pre-market trading after gaining 7% on Tuesday.
- Deutsche Bank Aktiengesellschaft (NYSE:DB) shares fell 7.5% to $15.77 in pre-market trading following second-quarter earnings.
- Geron Corporation (NASDAQ:GERN) shares declined 6.9% to $4.30 in pre-market trading after the company announced the departure of CCO Anil Kapur.
- Kanzhun Limited (NASDAQ:BZ) shares fell 5.8% to $15.00 in pre-market trading.
- Alphabet Inc. (NASDAQ:GOOGL) shares declined 3.2% to $176.00 in pre-market trading. Alphabet reported upbeat earnings and sales results for its second quarter on Tuesday. The company also announced a cash dividend of 20 cents per share to be paid on Sept.16 to shareholders of record as of Sept. 9.
- Visa Inc. (NYSE:V) shares fell 3% to $256.94 in pre-market trading following third-quarter results.
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