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Tesla, Alcoa Rise Premarket; Carnival, United Airlines Fall

Stock Markets Jul 21, 2022 07:56AM ET
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By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Thursday, July 21st. Please refresh for updates.

  • Tesla (NASDAQ:TSLA) stock rose 2.7% after the electric car maker reported a smaller-than-expected drop in quarterly profit, helped by a string of price increases for its cars.

  • Alcoa (NYSE:AA) stock rose 4.1% after the aluminum producer reported better-than-anticipated earnings, while also announcing an additional $500 million share buyback.

  • Carnival (NYSE:CCL) stock fell 12% after the cruise operator announced it was selling an additional $1 billion of stock, using the money for general corporate purposes.

  • AT&T (NYSE:T) stock fell 2.3% after the telecoms giant cut its annual free cash flow forecast to $14 billion from $16 billion, as it has to increase investments to compete with major rivals. However, it raised its forecast for annual revenue growth in its wireless service business after reporting a jump in quarterly subscriber additions.

  • United Airlines (NASDAQ:UAL) stock fell 7.3% after the carrier posted a lower-than-expected quarterly profit, its first without U.S. aid since the pandemic began, as booming travel demand failed to offset higher operating costs.

  • American Airlines (NASDAQ:AAL) stock fell 3% despite the carrier forecasting a profitable third quarter, indicating that a boom in travel demand will more than offset higher costs.

  • AutoNation (NYSE:AN) stock fell 2.8% after the auto retailer reported a slight drop in second-quarter revenue, hit by a steep decline in new vehicle sales.

  • Travelers (NYSE:TRV) stock fell 1.1% after the insurer reported a nearly 29% fall in quarterly profit, hurt by higher catastrophe-related claims and lower returns on its investments.

Tesla, Alcoa Rise Premarket; Carnival, United Airlines Fall
 

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