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- Tesla shares fell 6% in pre-trading after reporting a 12% revenue drop in second-quarter results.The stock rose slightly before the closing bell, before retreating on Thursday.Alphabet, Chipotle, IBM, and Hims & Hers Health also saw notable premarket moves.
Tesla's, Alphabet's, and IBM's second-quarter earnings are on investors' minds this morning. Hims & Hers Health and Chipotle are also getting attention.
This is where they were trading premarket at 7 a.m. ET Thursday.
1. Tesla
The move: Elon Musk's EV maker is down about 6% to $313.44 a share after rising slightly over 0.1% on Wednesday.
Why: Tesla reported disappointing second-quarter results before the closing bell on Wednesday, with revenue dropping 12% year-on-year — the biggest fall in a decade. Shares rose after the past two earnings reports, despite also being weak.
2. Alphabet
The move: Alphabet's stock jumped 3% to $197.43 per share following a loss of 0.6% on Wednesday.
Why: Google's parent company posted better-than-expected second-quarter earnings on Wednesday. Its share price faltered at first on the news that the company's capital expenditure would increase by $10 billion this year. But advertising revenue was up 10% year-on-year, driven by AI.
3. Chipotle
The move: Chipotle declined almost 11% to $47.13 a share. It was up about 0.8% on Wednesday.
Why: The fast food chain cut its forecast for same-store sales in 2025 on Wednesday before the closing bell, saying it now expects these to be flat.
4. IBM
The move: The tech giant fell over 5% to $267.12 a share after gaining 0.02% on Wednesday.
Why: Second-quarter earnings showed 5% revenue growth in constant currency year-on-year, but software revenue fell 0.5% short of predictions. IBM stuck to its previous revenue outlook of a 5% increase in constant currency for the whole year.
5. Hims & Hers Health
The move: Hims & Hers fell 2% to $56.88 a share after climbing 16% on Wednesday.
Why: The telehealth company has soared since chatter increased across X about its potential as a disruptor in the healthcare industry. Revenue grew 111% in the first quarter year-on-year. It reports its second-quarter results in early August.