Stocks - Tesla, Chipmakers Fall Premarket; Best Buy, L Brands Up

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

• Tesla (NASDAQ:TSLA) stock slumped 4.9% by 8:15 AM ET (12:15 GMT) after analysts at Loup Ventures and Morgan Stanley (NYSE:MS) warned that the electric car company is likely to miss its 2019 delivery target due to U.S.-China trade war tensions, Bloomberg reported.

• Boeing (NYSE:BA) stock was down 1.8% as the Federal Aviation Authority warned that the 737 MAX may stay grounded well beyond October. The FAA is meeting with international regulators today to discuss the issue.

• Best Buy (NYSE:BBY) stock rose 2.4% after it reported higher-than-expected earnings for the first quarter and its mixed full-year guidance factored in the impact of tariffs.

• L Brands (NYSE:LB) stock gained 10.8% after the parent company of Victoria’s Secret and Bath & Body Works raised its guidance for the fiscal year on the back of first-quarter results that beat estimates.

• Deutsche Bank (NYSE:DB) ADRs fell 1.6% to an all-time low as chief executive Christian Sewing failed to convince shareholders of an imminent turnaround in the bank's performance at their annual meeting. Sewing appeared to promise more heavy cuts at Deutsche's unprofitable corporate and investment bank.

• Chipotle Mexican Grill (NYSE:CMG) stock fell 2% after BMO Capital downgraded the restaurant chain to “underperform" from “market perform.”

• Chipmakers Intel (NASDAQ:INTC), Broadcom (NASDAQ:AVGO) and Nvidia (NASDAQ:NVDA) are down as much as 2%, extending losses into Thursday after leading the market lower on Wednesday.

Related Articles

Best Buy sees solid second quarter as tech services boost profit margin

Nokian Tyres seeks to gain traction in North America with new factory

DOJ's Delrahim still open to Sprint-T-Mobile deal: CNBC