9 hours ago
Tesla shares fell on Investor Day
Shares of Tesla fell 3% as the electric automaker held its 2023 investor day.
During the event in Texas, CEO Elon Musk unveiled his “Master Plan 3,” focusing heavily on sustainable energy, but shared few details.
Investors and analysts are watching the event for insights on how the company plans to fight the increasing competition.
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Tesla shares fell as investor day begins
– Samantha Subin, Laura Kolodny
9 hours ago
Shares of Silvergate Capital fell as it delayed the release of its 10-K annual report
Shares of the crypto-focused bank plunged more than 30% in overnight trading after it filed to delay its 10-K release.
Silvergate Capital said in a filing on Wednesday that it was evaluating a string of pending inquiries and investigations and “required additional time to complete management’s assessment of internal controls over financial reporting.”
Based on these recent events, the company filed that it “may be less than well capitalized.”
Shares of Silvergate Capital have come under pressure in recent months, with crypto-exchange FTX falling on the downside.
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Silvergate shares fell
10 hours ago
Okta moves into Snowflake shares after hours
Tech stocks moved higher in overnight trade after it reported earnings, along with Salesforce.
Snowflake shares fell more than 7% on lighter-than-expected product revenue guidance despite posting an up-and-down line in the latest quarter, according to Refinitiv.
Meanwhile, Okta’s stock rose 14% on the top and bottom lines. The identity management company also shared strong revenue and EPS guidance for the current period, including unexpected gains.
Outside of tech, shares of American Eagle Outfitters rose about 7% on strong quarterly results.
Read the full list of stocks moving after the bell here.
– Samantha Subin
10 hours ago
Salesforce shares pop on strong earnings, guidance
Shares of Salesforce rose more than 15% in overnight trading after posting better-than-expected fourth-quarter results and strong guidance for next year.
The cloud software company reported adjusted earnings per share of $1.68 on revenue of $8.38 billion. Analysts polled by Refinitiv were calling for EPS of $1.36 on revenue of $7.99 billion.
Salesforce also said it will expand its share buyback program to $20 billion.
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Salesforce shares rally on strong earnings, better-than-expected guidance
Samantha Subin, Jordan Novett
10 hours ago
Dow futures open higher
Stock futures opened higher on Wednesday evening.
Dow-linked futures gained 148 points, or 0.45%. S&P 500 futures and Nasdaq 100 futures each added 0.08%.
– Samantha Subin
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