Stocks Making The Biggest Premarket Moves: Netflix, Tesla, United Airlines And More

Here are the pre-market movements of some notable companies:

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Netflix: The streaming giant's shares declined by nearly 7% after reporting mixed quarterly results. While Netflix posted earnings of $3.29 per share on $8.19 billion in revenue, analysts had anticipated earnings of $2.86 per share and revenue of $8.30 billion. The company also mentioned that it's too early to break down revenue from its new ad-supported tier and password-sharing crackdown.

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Tesla: Before the bell, Tesla's shares lost about 4%. The electric-vehicle maker reported second-quarter earnings that exceeded Wall Street's expectations on both the top and bottom lines, achieving record quarterly revenue. However, the company's operating margins declined to the lowest level in at least the past five quarters due to recent price cuts.

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IBM: The tech stock dipped about 1% after the company reported a revenue miss for the second quarter, partly impacted by a slump in the infrastructure division. However, IBM's earnings exceeded analysts' estimates as the company expanded its gross margin.

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Johnson & Johnson: The pharmaceutical giant's shares rose more than 1% after it posted better-than-expected earnings and raised its full-year guidance. The surge in sales in its medtech division, which provides devices for surgeries, orthopedics, and vision, contributed to the positive results. J&J reported adjusted earnings of $2.80 per share on revenue of $25.53 billion, surpassing Refinitiv's estimate of $2.62 per share on revenue of $24.62 billion.

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Las Vegas Sands: Despite beating analysts' expectations for the second quarter, the resort and casino stock fell 2%. Las Vegas Sands reported 46 cents in adjusted earnings per share on $2.54 billion in quarterly revenue, while analysts polled by Refinitiv had forecasted 46 cents in earnings per share and revenue at $2.39 billion.

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Taiwan Semiconductor: Shares of the chipmaker slid more than 2% after the company posted its first profit drop in four years due to a continued slump in demand for consumer electronics. Taiwan Semi reported net income of 181.8 billion New Taiwan dollars, higher than the Refinitiv estimate of NT$172.55 billion. The quarter's revenue also exceeded expectations.

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Discover Financial: The financial services company declined more than 12% after reporting second-quarter results that fell short of Wall Street's expectations on both the top and bottom lines. Discover Financial reported earnings of $3.54 per share on $3.88 billion in revenue, while analysts expected earnings of $3.67 per share on revenue of $3.89 billion.

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United Airlines: Shares rose 3% after United Airlines reported record quarterly earnings and expressed confidence in a strong third quarter, driven by the surging travel demand.

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Zions Bancorp: The regional bank's stock jumped more than 7% after posting second-quarter earnings. The company reported a rebound in customer deposits, and earnings aligned with analyst expectations at $1.11 per share.

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American Airlines: Despite surpassing analysts' expectations in second-quarter results, the airline stock lost 1%. American Airlines also raised its profit forecast for the year, reflecting the ongoing travel boom.

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D.R. Horton: The homebuilding stock rose 4% as strong demand in new home construction led to exceeding quarterly expectations. D.R. Horton reported earnings of $3.90 per share on $9.73 billion in revenue, surpassing analysts' estimates of $2.79 per share on revenue of $8.39 billion.

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Blackstone: Blackstone lost 3% after second-quarter revenue fell short of expectations. The company reported earnings of 92 cents per share on $2.35 billion in revenue, while analysts polled by Refinitiv expected earnings per share of 92 cents and $2.43 billion in revenue.

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Anheuser-Busch: Shares of the beermaker rose less than 1% in premarket trading after Morgan Stanley upgraded Anheuser-Busch to overweight. Morgan Stanley believes the stock presents a "very favorable risk reward" following a recent controversy around Bud Light, which caused the shares to slide.

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