Tesla, AT&T, IBM, Las Vegas Sands, F5, and More Stock Market Movers

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Stock futures declined Thursday as investors waded through mixed earnings reports and comments from central bank officials that inflation worldwide remains too high.

These stocks were poised to make moves Thursday: 

Tesla

(TSLA), the electric-vehicle leader, reported first-quarter earnings that met Wall Street expectations, but automotive gross profit margin, excluding regulatory credits, was below 16%, down from about 21% in the fourth quarter of 2022. Including leases, the auto business generated gross profit margins of about 19%, below Wall Street expectations of 21%. The stock was falling 6.6% in premarket trading.

Telecommunications company AT&T (T) reported first-quarter earnings and revenue lower than a year earlier, while subscriber growth slowed. AT&T was down 3.6%.

International Business Machines

(IBM), the information technology company, posted first-quarter revenue about in line with estimates, while profit slightly topped expectations. IBM also issued a solid full-year outlook, while acknowledging some softness in its consulting business due to a weaker economy. The stock was rising 1.8%.

Las Vegas Sands (LVS), the casino operator, reported first-quarter gambling revenue of $1.54 billion, up from $627 million a year earlier. Sands said a “robust” recovery in travel and tourism spending was underway in both Macau and Singapore. Shares of

Las Vegas Sands

jumped 4.5%.

F5

(FFIV) said it was cutting its global headcount by 9%, or 620 employees, citing the “current demand environment.” The stock tumbled 7.3%.

Zions Bancorp

(ZION) fell 4.5% after the regional bank reported first-quarter earnings that missed Wall Street estimates and said deposits declined 16%.

U.S.-listed shares of

Taiwan Semiconductor Manufacturing

(TSM) rose 0.6% after the chip-manufacturing giant’s first-quarter profit beat expectations but the company forecast a revenue slowdown in the second quarter. 

American depositary receipts of

Nokia

(NOK) declined 7.6% after the Finnish telecommunications company’s first-quarter profit missed analysts’ estimates.

Philip Morris

(PM), the tobacco company, railroad company

Union Pacific

(UNP), and

AutoNation

(AN), the car dealer, also are scheduled to post quarterly earnings before the trading day begins.

Write to Joe Woelfel at [email protected]