Tesla Falls on Lower Capex, Meta Slips, Lockheed Raises Outlook

Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Shares of Tesla (TSLA) fell in premarket trading Thursday after the electric-car maker cut its spending plans following capital investment that trailed expectations last quarter, clouding Elon Musk’s effort to transform the electric vehicle maker into an AI and robotics company. Analysts note that they are incrementally positive on the growing adoption of full-self driving, while Musk confirmed that Tesla and SpaceX are working towards a merger.
- Shares of Meta Platforms (META) slipped ahead of the US market open after CEO Mark Zuckerberg told investors that a pricey wager on artificial intelligence is delivering results, setting the stage for the company to bet even more aggressively on the market. During its quarterly earnings report Wednesday, the social-media giant boosted its capital spending plans for the year and announced a new class of nonvoting stock that could ultimately be used to help pay for acquisitions and other expenses.
- Shares of Lockheed Martin (LMT) ticked higher ahead of the opening bell after the company lifted its full-year outlook as its missile systems portfolio was buoyed by rising global defense spending. The company now expects adjusted 2026 earnings of $30.35 to $30.75 per share, up from a range of $29.95 to $30.65. Even the lower end of the new guidance exceeds the average analyst estimates compiled by Bloomberg. The results are yet another example of how US defense firms are benefiting from heightened geopolitical tensions.

See omnystudio.com/listener for privacy information.