US stock futures fell on Friday as investors awaited the start of a new quarterly earnings season as major banks report their figures.
Here are some of the biggest moves in US stocks before the market today
Shares of Tesla ( NASDAQ:TSLA ) fell 6.6% after the EV maker unveiled its long-awaited ‘Cybercab’ robotic taxi, although analysts noted that CEO Elon Musk gave few answers to critical questions surrounding the technology .
Shares of JPMorgan Chase (NYSE:JPM) rose 2% after the largest U.S. lender by assets beat quarterly profit and revenue estimates, thanks to higher-than-expected net interest income.
Shares of Wells Fargo (NYSE:WFC) rose 2.9% after the bank reported third-quarter earnings that beat expectations, boosted by lower expenses and credit costs.
Shares of Uber (NYSE:UBER) rose 4.9% after Tesla’s much-anticipated Robotaxi event failed to impress investors, with Jefferies reporting that Tesla’s “toothless taxi is the best possible outcome for Uber”.
Shares of BlackRock (NYSE:BLK) rose 1.5% after the world’s largest asset manager’s assets under management hit a record for a third straight quarter, helped by increased inflows into the firm’s exchange-traded funds and strong stock rally.
BP (NYSE:BP) ADRs fell 0.7% after the energy giant warned that weak refining margins are expected to hurt its third-quarter results by up to $600 million.
Shares of Stellantis (NYSE:STLA) fell 2.9% after the auto giant announced management reshuffles aimed at revitalizing its performance after a period of sliding profits and production cuts.
Shares of Mobileye Global ( NASDAQ:MBLY ) fell 2% after Mizuho downgraded its stance on the self-driving company to “neutral” from “outperform,” citing slowing auto sales and growing competition.
Shares of Humana ( NYSE:HUM ) fell 3.8% after the health insurer downgraded its industry star ratings.
Shares of Ferrari (NYSE:RACE) rose 1.6% after JPMorgan upgraded its stance on the luxury carmaker to “overweight” from “neutral,” citing “high visibility on earnings growth.”
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Reference;
Nurse, P. (2024) JPMorgan, Wells Fargo, Uber rise premarket; Tesla falls By Investing.com, Investing.com. Investing.com. Available at: https://www.investing.com/news/stock-market-news/jpmorgan-wells-fargo-uber-rise-premarket-tesla-falls-3659539 (Accessed: 11 October 2024).
