Tesla earnings, jobless claims and more: Thursday’s 5 things to know

FAN Editor

Here are the key events taking place on Thursday that could impact trading.

TESLA: Shares of the electric carmaker were up 2% in the premarket after the company announced that its second-quarter profits fell 32% from the previous quarter, but overall earnings were stronger than expected even as the manufacturer faced an uphill battle with plant closures in Shanghai and supply shortages. In an earnings call, the company said it netted $2.26 billion in profit for the quarter and stuck with a prediction of 50% annual vehicle sales growth over the next few years. 

Ticker Security Last Change Change %
TSLA TESLA INC. 742.50 +5.91 +0.80%

UNITED AIRLINES: Shares of the carrier were down 6.5% at $38.95 in extended trading after the company posted a lower-than-expected quarterly profit, its first without U.S. aid since the pandemic began. The adjusted profit of $1.43 per share for the quarter through June was below analysts’ expectations for $1.95, according to Refinitiv.

United Airlines plane

A United Airlines plane taking off. (iStock / iStock)

EARNINGS AGENDA: Thursday will mark the busiest day for earnings with American Airlines, AT&T, AutoNation, Blackstone, D.R. Horton, Danaher and Domino’s Pizza among the companies reporting before the market open. Companies on deck for earnings after the bell will include Boston Beer, Capital One Financial, Mattel, Snap and Tenet Healthcare.

NETFLIX REASSURES INVESTORS WITH CUSTOMER GROWTH FORECAST

ECONOMIC REPORTS: Investors will also digest the Conference Board’s index of leading economic indicators, the Philadelphia Federal Reserve’s manufacturing index and the latest in continuing and initial jobless claims. 

A jobless claim form

Labor Department will report jobless claims on Thursday. A file photo shows an example of an unemployment claim form. (Fox Business Network)

EUROPEAN RATES: The European Central Bank will reportedly raise interest rates for the first time in 11 years on Thursday with a bigger-than-expected move seen as increasingly likely as policymakers fear losing control of runaway consumer price growth.

GLOBAL RECESSION IS A ‘CLEAR AND PRESENT DANGER,’ CITI ECONOMISTS WARN

European Central Bank Headquarters in Germany

The colors of the European Union, illuminates the south facade of the European Central Bank (ECB) headquarters in Frankfurt, Germany. (REUTERS/Wolfgang Rattay / Reuters Photos)

CLICK HERE TO READ MORE ON FOX BUSINESS

The bank, until recently, was signaling just a 25 basis point increase to be followed by a bigger move in September, but sources close to the discussion said a 50 basis point increase would also be on the table on Thursday, according to Reuters.

Free America Network Articles

Leave a Reply

Next Post

Italian PM Mario Draghi quits after failing to revive his coalition government

Italy’s Prime Minister Mario Draghi Mondadori Portfolio | Mondadori Portfolio | Getty Images Italy’s Prime Minister Mario Draghi is expected to resign Thursday, paving the way for fresh elections and opening a new chapter of political uncertainty. Speaking to parliament, Draghi said he was going to speak to President Sergio […]