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Automaker to get up to $5B in government assistance for EV battery, assembly plants

Stocks - Morgan Stanley, Netflix Fall Premarket; Union Pacific Bounces

Investing.com
Updated

Investing.com - Stocks in focus in premarket trading on Thursday:

• Netflix (NASDAQ:NFLX) stock tumbled 10.9% by 8:18 AM ET (12:18 GMT) after it said it added only 2.7 million new subscribers in the second quarter, well below guidance of 5 million.

• Morgan Stanley (NYSE:MS) stock slipped 0.9% as it followed other banks in reporting falling earnings and revenue albeit strong wealth management performance meant that the declines were gentler than expected.

• SAP (NYSE:SAP) stock slumped 6.4% after the German software giant’s revenue came in below forecasts due to weakness in Asia, which it attributed largely to uncertainties over trade policy.

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• IBM (NYSE:IBM) stock declined 1% after its revenue overall declined for the fourth straight quarter, despite its cloud-based business pushing earnings higher.

• UnitedHealth (NYSE:UNH) stock was up 0.6% after it reported a 13% rise in second-quarter profit.

• Qualcomm (NASDAQ:QCOM) stock fell 1.1% after it was fined 242 million euros ($272 million) by the European Commission for blocking a rival from the market a decade ago.

• Honeywell International (NYSE:HON) stock slipped 0.9% after its revenue was below expectations, although it raised its full-year sales and profit forecasts a fraction.

• Union Pacific Corporation (NYSE:UNP) stock gained 2.8% after the railroad company’s earnings beat analyst estimates. It had fallen 6.4% on Wednesday after weak earnings from rival CSX (NASDAQ:CSX). Net income was $1.6 billion or $2.22 per diluted share.

• Apple (NASDAQ:AAPL) stock rose 0.3% after it was upgraded to “outperform” from “market perform” at Raymond James, citing its upcoming 5G iPhone, according to CNBC.

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