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meme9h agomemePremarket movers: All Mag 7 names are lower: Tesla (TSLA) drops 4.4% after the electric-car maker cut its spending plans, following capital investment that trailed expectations last quarter (Nvidia (NVDA) -2%, Alphabet (GOOGL) -2%, Amazon (AMZN) -2%, Meta Platforms (META) -2%, Microsoft (MSFT) -0.9%, Apple (AAPL) -0.2%) Chipmakers and other AI-related firms slide after reports from Tesla, Lam Research and IBM underwhelmed. Decliners include AMD (AMD) -4%, Broadcom (AVGO) -3%, Intel (INTC) -4%. The mood is weighing on other growth sectors and pushing crypto names lower American Airlines (AAL) slumps 4% after issuing a broad range for its fourth-quarter loss prediction, highlighting how the industry is struggling to map out its performance amid persistently high fuel prices. Biohaven (BHVN) soars 53% after the FDA said company’s new drug application resubmission for Vyglxia has been accepted for review. CSX (CSX) inches 2% higher after the railroad reported earnings per share for the third quarter that beat the average analyst estimate. The company is benefiting as trucking gets more expensive, pushing shippers to use its intermodal offering instead of having goods carried entirely by truck. Gentherm (THRM) falls 6% after the the automotive supplier reported adjusted earnings per share below analyst expectations in the third quarter. International Business Machines (IBM) falls 5% after posting third quarter results. Kinder Morgan (KMI) gains 2% after formally committing to building a $4.2 billion pipeline that will haul fuel across West Texas and the Panhandle to help power a data center complex. Lam Research (LRCX) falls 7% after the semiconductor capital equipment company gave a forecast for adjusted second-quarter earnings that was slightly weaker than expected at the midpoint of the range. Lockheed Martin (LMT) rises 4% after lifting its full-year outlook as the company’s missile systems portfolio was buoyed by rising global defense spending. Pool Corp. (POOL) gains 4% after third quarter results topped expectations. Procter & Gamble (PG) gains 3% after sales and profits beat Wall Street expectations, showing the Tide-owner’s limited price hikes that are successfully drawing constrained customers have not come at the expense of earnings.(Historical earnings: For fiscal 2026 Q3 (period ended 2026-08-02), Broadcom reported basic EPS of 6.26, diluted EPS of 6.09, and revenue of USD 71.089 billion. Consensus expectations: For fiscal 2026 Q4, consensus expects EPS of 3.45 and revenue of USD 35.574 billion.)
72/100·B+Short+25