Look at the companies that are grabbing attention in premarket trading.
Tesla
Tesla shares increased by about 7% after the electric vehicle manufacturer reported second-quarter production and delivery figures that exceeded Wall Street forecasts. Year over year, deliveries increased by 83%.
Electric vehicle stocks
After Tesla reported strong-than-expected manufacturing and distribution results for the second quarter, electric vehicle stocks grew significantly. While Fisker and Lucid both gained more than 2%, Rivian contributed 3.2%.
Xpeng
Following more than a year of falls, the Chinese electric car company’s U.S.-listed shares jumped by 7% after exceeding its delivery projection and recording a 27% quarter-over-quarter rise. On the strength of strong delivery data, other Chinese EV equities Nio and Li Auto each increased by more than 4%.
Apple
Following news that Apple will be reducing the manufacturing of its Vision Pro headsets, the stock price of the iPhone manufacturer fell by 0.4%. On Friday, Apple stock reached a market capitalization of over $3 trillion.
AstraZeneca
AstraZeneca Following the release of early findings from a phase three study for a lung cancer therapy by AstraZeneca, shares of the pharmaceutical company dropped 5.7% in premarket trade. Although the medication outperformed a rival on one endpoint, AstraZeneca stated in a news release that the data for overall survival was “not mature” and suggested that the findings were not statistically significant. The corporation says that the experiment will go on.
United Airlines
Even though the airline bore the brunt of the statewide flight delays that occurred over the holiday weekend, United Airlines’ shares moved slightly higher before the bell.
Chinese internet stocks
Before the bell, shares of Chinese technology companies rose, helping the KraneShares CSO China Internet ETF. Shares of Alibaba, Pinduoduo, and JD.com each saw gains of 1.9%, 3.2%, and 3.1%. The increases coincided with reports that Janet Yellen, the Treasury Secretary, would be meeting with top Chinese officials in Beijing later this week.
Energy stock
Energy stock prices rose in premarket trading as a result of major exporters reducing their supply for the month of August. ConocoPhillips and Halliburton each contributed roughly 1%. Occidental Petroleum, Devon Energy, and Chevron all had gains.