© Reuters. FILE PHOTO: The Nasdaq logo is displayed at the Nasdaq Market site in New York September 2, 2015. REUTERS/Brendan McDermid
(Reuters) – U.S. stock index futures slipped on Thursday, with those of the Nasdaq taking the biggest hit, after Tesla (NASDAQ:) failed to meet estimates for quarterly revenue and warned of missing its vehicle delivery target.
Shares of the electric-vehicle maker dropped 6.1% in premarket trading as the company flagged persistent logistics challenges, with fourth-quarter deliveries growing by less than the aimed 50%.
Other megacap growth stocks like Alphabet (NASDAQ:) Inc, Meta Platforms Inc, Netflix Inc (NASDAQ:), Mirosoft Corp and Amazon.com (NASDAQ:) also fell between 0.7% and 1.3%.
Analysts have raised expectations for third-quarter profit growth at companies to 3% from 2.8%, according to Refinitiv data. But the number is still sharply lower than their forecast of an 11.1% increase at the start of July.
At 4:41 a.m. ET, were down 39 points, or 0.13%, were down 18.25 points, or 0.49%, and were down 91.75 points, or 0.82%.
The main U.S. indexes fell after two days of gains on Wednesday as weakness in shares of Abbott Laboratories (NYSE:) and a rise in Treasury yields sapped momentum from the current earnings season and outweighed a surge in Netflix’s shares. [.N]
Fears of aggressive rate hikes by the Federal Reserve continue to weigh on investor sentiment, with expectations of yet another 75 basis point hike in the November meeting.
IBM (NYSE:) Corp said it was expecting to exceed full-year revenue growth target on strong demand for its digital services. Its shares rose 3.1% in light trading.
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