Tesla (NASDAQ:TSLA) – Tesla shares rose 11.96% in pre-market trading on Wednesday, even though its first-quarter earnings were below analysts’ forecasts. Tesla reported an adjusted earnings per share of 45 cents with revenues of $21.3 billion, while analysts had expected earnings per share of 51 cents and revenues of $22.15 billion. Moreover, Tesla revealed plans to launch “new models” in early 2025, utilizing its existing platforms and production lines, while abandoning production of a brand new $25,000 model. Elon Musk mentioned a “robotaxi product” under development but did not provide a timeline for its release.

Evotec (NASDAQ:EVO) – Shares of Evotec, a German biotechnology company, plummeted -36.34% in pre-market after revealing an uncertain outlook, along with the appointment of a new CEO. Despite the 2023 financial results aligning with estimates, the drop in EBITDA and rise in revenues did not reassure investors. EBITDA fell 35% to 66 million euros, and revenues increased 4% to 781 million euros.

Texas Instruments (NASDAQ:TXN) – Texas Instruments shares increased by 7.3% in pre-market trading due to robust first-quarter earnings. Texas Instruments reported earnings per share of $1.20 and revenue of $3.66 billion, surpassing analysts’ forecasts, which were $1.07 per share and $3.61 billion in revenue, as indicated by LSEG. Additionally, the company issued projections for the current quarter’s performance in line with expectations.

Seagate Technology (NASDAQ:STX) – Seagate shares rose 1.7% in pre-market after releasing positive projections for the next quarter. Last quarter, Seagate reported adjusted earnings of 33 cents per share, slightly above the expected 29 cents, while revenue fell 11% to $1.66 billion, below estimates. For the next quarter, the company forecasts adjusted earnings per share of 70 cents, exceeding analysts’ expectations, with revenue around $1.85 billion, aligned with market forecasts.

Visa (NYSE:V) – Visa shares rose 2.6% in pre-market after announcing earnings that exceeded expectations. Visa reported earnings per share of $2.51, excluding extraordinary items, with revenue of $8.78 billion. Analysts surveyed by LSEG had expected earnings per share of $2.44 and revenue of $8.63 billion.

TE Connectivity (NYSE:TEL) – TE Connectivity shares fell 0.9% in pre-market after second-quarter results revealed earnings per share of $1.86, an increase of approximately 13% year-over-year, with sales of $3.97 billion. Orders reached $4 billion, surpassing sales for the first time in six quarters. The forecast for the third quarter is earnings per share of $1.85, with sales of $4 billion, but the appreciation of the U.S. dollar could pose a hurdle, with an estimated impact of 15 cents per share due to exchange rates.

Baker Hughes (NASDAQ:BKR) – Baker Hughes shares fell 2.4% in pre-market, despite the company surpassing analysts’ expectations in the first quarter, driven by higher international drilling demand. Its total revenue rose to $2.79 billion in the international segment. Adjusted earnings were 43 cents per share, while total revenue increased 12.3% to $6.42 billion. Analysts’ average estimates were adjusted earnings per share of 40 cents and revenue of $6.37 billion.

Enphase Energy (NASDAQ:ENPH) – Enphase Energy shares fell 8.3% in pre-market, following the latest earnings report, along with revenue projections for the current quarter that disappointed Wall Street. Enphase reported earnings of 35 cents per share with revenue of $263 million in the first quarter, while analysts had expected 40 cents per share and revenue of $280 million, according to LSEG. The company indicated it expects to generate revenues in the second quarter between $290 million and $330 million, below the consensus forecast of $349 million.

SunPower (NASDAQ:SPWR) – SunPower identified distortions in its fiscal year 2022 results, predicting a revenue reduction between $15 million to $25 million due to capitalized deferred costs and misclassifications of expenses. The review of the numbers is still ongoing.

Mattel (NASDAQ:MAT) – Mattel shares rose 2.8% in pre-market after announcing a smaller-than-expected loss per share. Mattel reported a loss of 5 cents per share in the first quarter, while analysts expected 12 cents, according to LSEG. Mattel’s revenues were $810 million for the quarter, below Wall Street’s estimate of $832 million.

Philip Morris International (NYSE:PM) – Philip Morris International exceeded quarterly earnings expectations, driven by the strength of its smoke-free growth strategy. Adjusted earnings were $1.50 per share, above the expected $1.41. Quarterly revenue of $8.8 billion also surpassed estimates of $8.44 billion. Organic revenue from the smoke-free business increased nearly 25%, boosting an organic gross profit increase of 37.5%. The adjusted operating profit margin grew to 44.5%, from 42% a year ago. For the second quarter, the company expects adjusted earnings per share between $1.50 and $1.55, below the $1.62 predicted by analysts. For 2024, PM now anticipates adjusted earnings per share between $6.19 and $6.31, lower than the previous estimate of $6.32 to $6.44.

Join the discussion: Connect with other investors on your favorite stocks or explore the top-talked-about stocks on our Breakout Boards.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making investment decisions.
Some portions of this content may have been generated or assisted by artificial intelligence (AI) tools and been reviewed for accuracy and quality by our editorial team.