Here are some of the biggest movers on Thursday, with a slide in Tesla stock rattling the broader market.
Stock gainers:
Las Vegas Sands Corp. shares
LVS,
rose nearly 5% in premarket trading after the casino operator late Wednesday reported first-quarter gambling revenue of $1.54 billion, up from $627 million a year earlier and said a “robust” recovery in travel and tourism spending was underway in both Macau and Singapore.
D.R. Horton Inc. shares
DHI,
climbed 3.5% after the homebuilder reported big fiscal second-quarter profit and revenue beats as demand improved during the quarter despite higher mortgage rates.
International Business Machines Corp.‘s stock
IBM,
rose nearly 2% after the tech giant posted first-quarter revenue about in line with Wall Street estimates, while profits slightly topped expectations. ‘Big Blue’ provided a solid full-year outlook, while acknowledging some softness in its consulting business due to a weaker economy.
Stock decliners:
Tesla Inc. shares
TSLA,
slumped about 7% premarket amid a flurry of analyst price target cuts after CEO Elon Musk suggested he would prioritize market share over margins.
Ford Motor Co.
F,
and General Motors Co.
GM,
lost about 2.5% apiece as investors worried that the EV sector would suffer an extended period of price cuts.
The U.S.-listed shares of Nokia Corp.
NOK,
sank nearly 7% after the telecommunications equipment maker missed first-quarter profit expectations and lowered its sales outlook.
AT&T Inc.’s stock
T,
shed more than 4% after the telecommunications giant reported first-quarter beat profit expectations but fell short on free cash flow.
F5 Inc.‘s stock
FFIV,
shed almost 7% after the software services provider and developer said it would cut its workforce by 9% amid a softer demand environment.
Alcoa Corp.‘s stock
AA,
fell nearly 4% after the aluminum and alumina producer revealed after Wednesday’s close that it had swung to a surprise quarterly loss and revenue came in below Wall Street expectations.
This post was originally published on Market Watch
