As one of the stocks to watch Tesla (NASDAQ:TSLA) was trading at $207.96 as of 01:33 PM EDT.
On Thursday, stock futures indicated a higher opening as Wall Street sought to recapture the upward trend it had experienced earlier in the week. This happened after the major U.S. market averages dropped the previous session as Treasury yields rose. Here are some equities to keep an eye on Thursday, broken down by individual names:
Stocks to Watch
1. Tesla (NASDAQ:TSLA): faced selling pressure following a weak revenue result. While its top-line revenue increased 56% to nearly $21.5 billion, shares of Elon Musk’s electric vehicle manufacturer fell 5% in premarket trading. However, this fell short of experts’ predictions by $510M due to logistical issues and currency fluctuations.
2. Allstate (NYSE:ALL): Despite headline numbers that exceeded expectations, Allstate lost ground before the market opened. After the insurer predicted catastrophe losses of $763 million, net of reinsurance, for the third quarter, shares fell 10% in premarket trading. This occurred amidst the devastation caused by Hurricane Ian. The company estimated an overall Q3 adjusted net loss of $400 million to 450 million.
3. American Airlines (NASDAQ:AAL): Following the publication of its quarterly earnings, American Airlines saw a surge in premarket trading. With its Q3 earnings, the business exceeded expectations. Revenue increased by 50% from the prior year and finished 13% higher than pre-pandemic levels in 2019.
4. AT&T (NYSE:T): The release of earnings data also helped AT&T, which increased by over 3% after its Q3 profit above analysts’ expectations. Also added were 964K subscribers by the telecom behemoth.
5. IBM (NYSE:IBM): On both the top and bottom lines, IBM’s quarterly results exceeded expectations. As a result, revenue increased by 6% to $14.1 billion. The CEO of IBM stated, “We now estimate full-year revenue growth [in 2022] above our mid-single digit model.” Shares increased 4% before the market opened.
Jeff Bezos, the founder of Amazon, recently urged investors to “batter down the hatches” after analyzing the market as a whole.
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Featured Image- Megapixl @ Sergiomonti
Author Jowi Kwasu