Prism Stocks making the biggest moves premarket: Boeing, Tesla, Visa, Airbnb and more

Here’s a look at the companies making waves ahead of the opening bell.

Boeing

— The aerospace giant’s shares surged 3% as the company reported a smaller-than-anticipated loss in its recent quarterly results. The company noted an adjusted loss of $1.13 per share, surpassing LSEG analyst estimates of a $1.76 loss. Its revenue of $16.57 billion also beat expected forecasts of $16.23 billion.

Airbnb

– The holiday property rental platform saw a nearly 2% bump after Mizuho elevated its status from neutral to buy. Several positive developments, including the potential rollout of sponsored listings and increased demand from the Summer Olympics, contributed to this change. Its new price target of $200 suggests a 24% upside.

Biogen

– The pharmaceutical company’s stock appreciated over 6% premarket following its reported earnings of $3.67 per share, exceeding LSEG estimates of $3.45 per share. The company ascribed this to its cost-saving measures and higher-than-anticipated sales of its Alzheimer’s drug, Leqembi.

Tesla

— The electric vehicle manufacturer’s shares surged 12% premarket after CEO Elon Musk announced plans to launch an affordable EV model by 2025. Despite missing Q1 earnings with 45 cents in adjusted earnings per share on $21.3 billion of revenue, the prospect of a new model has spurred significant interest.

Visa

— Shares of the payment giant climbed over 2% after outperforming expectations for the second fiscal quarter. Visa reported an adjusted $2.51 per share on $8.78 billion in revenue, a 10% year-on-year increase.

Texas Instruments

— Shares in the technology heavyweight leapt 6.8% after smashing Q1 expectations. The firm posted earnings of $1.20 per share on $3.66 billion in revenue, surpassing LSEG’s projections.

Sea Limited

— Shares of the Southeast Asian tech behemoth moved up 3.2% after Loop Capital upgraded its status from hold to buy, anticipating the company’s transition to sustained profitable growth.

Mattel

— The toy manufacturer’s shares appreciated by 2.7% following a smaller-than-expected loss per share. Mattel reported a loss of 5 cents per share in Q1, below the 12 cents projected by LSEG analysts.

Enphase Energy

— The renewable energy stock slipped almost 7% due to an earnings shortfall and pessimistic Q2 revenue forecast. The company expects Q2 revenue to lie between $290 million and $330 million, falling short of the consensus estimate of $349 million.

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Prism Stocks making the biggest moves premarket: Boeing, Tesla, Visa, Airbnb and more

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