In a busy trading session on Wednesday night, Tesla’s quarterly results prompted a more than 3% decline in its stock price. Despite this setback, the electric vehicle manufacturer reported a year-over-year revenue increase of 12%, marking its first growth after two consecutive quarters of decline. As part of CNBC’s “Worldwide Exchange,” viewers can expect a deep dive into these numbers featuring Wedbush’s head of technology/media trading at 5 a.m. ET. Although Tesla shares have more than doubled in value over the past year, they remain about 10% shy of their 52-week high reached in December. Interestingly, the stock has surged 21% since CEO Elon Musk’s exit from a government position in May.
In a related sector, Jim Cramer highlighted the potential for a rebound in data center stocks during “Mad Money.” The iShares U.S. Digital Infrastructure ETF (IDGT) recently approached its high from two weeks ago, currently sitting 1.6% away, while also showing a robust 22% gain over the past six months. Other ETFs focused on digital infrastructure reported similar trends, with the Global X Data Center & Digital Infrastructure ETF (DTCR) up more than 37% over the same timeframe.
On the airline front, American Airlines is expected to make headlines with a live report during “Squawk Box,” featuring an interview with CEO Robert Isom at approximately 7:30 a.m. ET. The airline’s shares have decreased by 3.3% over the past three months and stand 36% below their January high. Southwest Airlines’ CEO Bob Jordan is also slated to appear on “Squawk Box,” as the company faces a 9% drop in share price since its most recent financial announcement. Alaska Air’s CEO, Ben Minicucci, will join “Money Movers” at 11 a.m., with Alaska Air shares down 10% over the past quarter and 39% below February’s highs.
Turning to the industrial sector, Honeywell is set to release its earnings on Thursday morning during “Squawk Box.” The manufacturing giant has experienced a 13% drop in its stock since its last report, now hovering 15% away from its November peak. Ford Motor Company and Intel are also anticipated to report earnings after the bell during “Closing Bell: Overtime.” Ford’s stock has risen 11% since its last quarterly results but has recently dipped 3% from its two-week high. Meanwhile, Intel, which has secured significant investors and partnerships since its last earnings report, is approximately 7% from its high reached on October 10 and has seen a remarkable 59% increase over the last three months.
As financial analysts and investors prepare for another day of trading, these developments provide a glimpse into the dynamic shifts within various sectors of the market.
