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Tesla’s investor event for 2023 will take place Wednesday.
Anna Moneymaker/Getty Images
Stock futures suggested Wall Street would open higher Wednesday following data that showed China’s economy rebounded in February after the lifting of strict Covid-19 restrictions.
These stocks were poised to make moves Wednesday:
Tesla
‘s (TSLA) investor event for 2023 will take place after the closing bell Wednesday, giving investors the chance to hear from CEO Elon Musk about the electric-vehicle company’s strategy and future. Expectations are that Tesla will offer an update on its next-generation vehicle, potentially a less expensive car.
Tesla stock was rising 1.3% in premarket trading.
Rivian
(RIVN) shares were falling 8.3% after fourth-quarter revenue missed analysts’ estimates and production guidance from the electric-vehicle start-up disappointed.
Novavax
(NVAX) sank 23.7% after the vaccine maker said there was “substantial doubt” about its ability to continue operating through the year. In its earnings report issued Tuesday after the market closed, the company said it expects to have enough cash to fund operations through 2023, but that expectation is “subject to significant uncertainty” related to revenue for the year, among other factors.
AMC Entertainment
(AMC) reported a fourth-quarter loss that was narrower than analysts’ expectations. But the stock was down 8.5% in premarket trading after the movie-theater chain posted its 14th consecutive quarterly loss.
First Solar
(FSLR) was rising 5.6% after the solar power company issued earnings and revenue guidance for the full year ahead of analysts’ expectations.
HP Inc.
(HPQ) posted mixed results for its fiscal first quarter, as the PC and printer company continues to grapple with a soft demand environment for personal computers. Shares, however, were rising 3.3% in premarket trading.
American depositary receipts of
NIO
(NIO) were rising 1% after the Chinese electric-vehicle maker reported a wider-than-expected fourth-quarter loss but deliveries in February of 12,157 rose more than 98% on a year-over-year basis.
Lowe’s
(LOW) was rising slightly in premarket trading after the home-improvement retailer reported fourth-quarter earnings that topped analysts’ estimates but sales that missed.
Write to Joe Woelfel at joseph.woelfel@barrons.com
