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These Stocks Are Moving the Most Today: Tesla, IBM, Chevron, ServiceNow, and More

Bywallstrwarrior

Stock futures were mostly higher Thursday and tech stocks looked poised to rally after Tesla TSLA +0.38% delivered solid quarterly earnings.

These stocks could make moves Thursday:

Tesla (TSLA) was up more than 7% in premarket trading. The electric-vehicle maker reported fourth-quarter earnings that topped Wall Street estimates. Tesla’s operating earnings of $3.9 billion in the fourth quarter were a record.

International Business Machines IBM –0.52% (IBM) declined 2%. IBM posted better-than-expected quarterly revenue, and its revenue forecast also was upbeat. But the company’s outlook on free cash flow was slightly disappointing. IBM also said it would be cutting 3,900 jobs.

Chevron (CVX) was gaining 3% after the energy giant raised its dividend and announced a new round of buybacks valued at up to $75 billion.

ServiceNow NOW +1.21% (NOW) was down 1.7% even after the cloud-software company posted fourth-quarter earnings that were better than expected and its forecast for first-quarter subscription revenue also was higher than expectations.

Shares of Lam Research (LRCX) fell 1.9% after the silicon-foundry equipment supplier said it would be cutting its work force by 7% to reduce costs as chip equipment demand slows.

American depositary receipts of SAP (SAP) fell 4.4% after the German enterprise software giant announced plans to reduce its staff by 2.5%, and said it has begun exploring the sale of its majority stake in Qualtrics (XM).

American depositary receipts of Nokia (NOK) rose 3% after the Finnish telecommunications company beat analysts’ expectations for its fourth-quarter earnings and sales.

Las Vegas Sands (LVS) rose 2% after the casino company reported a fourth-quarter loss but said revenue jumped 11%. It also said it was confident that travel and tourism spending would continue to recover this year.

American Airlines (AAL) and Southwest Airlines (LUV) will be reporting quarterly earnings before the stock market opens Thursday.

Source: finance.yahoo.com

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