US Premarket: Dow Inc, Tesla, IBM and other stocks making biggest moves

Tesla (TSLA)

Tesla fell 5.3% in premarket action after reporting lower-than-expected quarterly revenue. The electric vehicle maker slashed its full-year delivery target. The company reported a better-than-expected profit for the quarter.

Dow Inc. (DOW)

Shares of the chemical maker fell 2.5% in premarket
trading, despite beating top and bottom line estimates for the third quarter,
with investors looking at higher energy costs that hurt Dow’s profit margins.

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IBM (IBM)

IBM rose 3.3% in premarket trading after beating top and
bottom line estimates for its latest quarter. The company raised its full-year
revenue outlook. IBM saw improved results in various business segments,
including software, consulting, and infrastructure.

AT&T (T)

AT&T gained 2.4% in premarket trading after reporting
higher-than-expected profit and revenue for the third quarter. The company’s wireless
revenue increased by 5.6%, the best quarterly growth in over a decade. The
postpaid phone net additions came in higher than expected.

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Alcoa (AA)

Alcoa shares tumbled 10.7% in premarket action after the
aluminum producer reported an unexpected third-quarter loss. A fall in aluminum
prices and higher costs impacted Alcoa’s results.

American Airlines (AAL)

The stock price rose 2.6% in premarket action after the
company beat top and bottom estimates for the third quarter as travel demand
continued to surge despite economic worries.

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Blackstone (BX)

Blackstone added 1% in the premarket following
higher-than-expected quarterly results. Distributable earnings declined 16%
from a year-ago period, due in part to the market slowdown.

Las Vegas Sands (LVS)

Shares of the casino operator fell 1% in the premarket
after reporting a larger-than-expected loss for the third quarter. The revenue
also exceeded analyst forecasts. The company’s results are still being impacted
by China’s Covid-19 policies, which are shrinking business in Macau.

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Allstate (ALL)

Allstate plunged 10.3% in the premarket after the insurance
company said it would report a third-quarter loss. Catastrophe losses will
increase for the quarter, mainly due to the impact of Hurricane Ian, which
struck in September.

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WD-40 (WDFC)

WD-40 fell 6.3% in premarket target after saying inflation
will hurt the lubricant maker’s ability to reach its 55% gross margin target.