Futures put Wall Street indexes on course to open with muted losses. Here’s what’s moving in premarket trading:
- Tesla TSLA 0.18% shares slipped 1% ahead of the opening bell. The electric-vehicle maker notched a third consecutive record quarterly profit, thanks in part to its ability to navigate persistent global supply-chain disruptions.
- AT&T T 1.25% gained 1.1%. The carrier added 928,000 postpaid phone subscribers in the third quarter, showing how a year of deep handset discounts for new and existing customers is proving a winning formula.
- Pinterest PINS 12.77% shed 1.1% premarket, eating into Wednesday’s 13% rise that came after The Wall Street Journal reported that PayPal PYPL -4.91% is in talks to acquire the social-media platform.
- Blackstone, BX 1.50% American Airlines AAL -0.05% and Union Pacific UNP 1.00% are due to report before the open.
- IBM IBM -0.06% fell 4.7% premarket after it reported weaker-than-expected revenue in the latest quarter, weighed down by its cloud business and some clients’ pause in spending.
- CSX CSX 1.03% gained 2.8% premarket on slim volume. The rail operator posted third-quarter results ahead of expectations, as a 24% surge in revenue just outpaced a 23% increase in expenses.
- Las Vegas Sands LVS -1.94% slipped 2.1% premarket. The casino operator’s losses narrowed in the third quarter as revenue improved, but increased pandemic-related restrictions and slow tourism continued to hurt financial results.
- Discover Financial Services DFS 1.39% was down 2.3% premarket after the company reported a better-than-expected profit in the latest quarter, but a loss on investment caused the company to miss revenue expectations.
- Canadian National Railway CNI 5.23% nudged up 0.9% premarket. Activist investor Elliott Management has a big stake in the rail operator, adding to pressure on the railroad after its CEO resigned following a failed bid for rival Kansas City Southern. KSU 1.20%
- Intel, INTC 0.29% Chipotle, CMG -0.98% Snap, SNAP -1.02% Mattel MAT -2.21% and Whirlpool WHR 1.75% will report earnings after the close.
Chart of the Day
- Chinese dollar-bond defaults are rising quickly as the country’s housing market slumps, and the problem could worsen as a wave of debt from the beleaguered industry comes due in the coming months.
Write to James Willhite at firstname.lastname@example.org
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