Tesla (NASDAQ:TSLA) – Tesla shares rose 11.96% in pre-market trading on Wednesday, even though its first-quarter earnings were below analysts’ forecasts. Tesla reported an adjusted earnings per share of 45 cents with revenues of $21.3 billion, while analysts had expected earnings per share of 51 cents and revenues of $22.15 billion. Moreover, Tesla revealed plans to launch “new models” in early 2025, utilizing its existing platforms and production lines, while abandoning production of a brand new $25,000 model. Elon Musk mentioned a “robotaxi product” under development but did not provide a timeline for its release.

Evotec (NASDAQ:EVO) – Shares of Evotec, a German biotechnology company, plummeted -36.34% in pre-market after revealing an uncertain outlook, along with the appointment of a new CEO. Despite the 2023 financial results aligning with estimates, the drop in EBITDA and rise in revenues did not reassure investors. EBITDA fell 35% to 66 million euros, and revenues increased 4% to 781 million euros.

Texas Instruments (NASDAQ:TXN) – Texas Instruments shares increased by 7.3% in pre-market trading due to robust first-quarter earnings. Texas Instruments reported earnings per share of $1.20 and revenue of $3.66 billion, surpassing analysts’ forecasts, which were $1.07 per share and $3.61 billion in revenue, as indicated by LSEG. Additionally, the company issued projections for the current quarter’s performance in line with expectations.

Seagate Technology (NASDAQ:STX) – Seagate shares rose 1.7% in pre-market after releasing positive projections for the next quarter. Last quarter, Seagate reported adjusted earnings of 33 cents per share, slightly above the expected 29 cents, while revenue fell 11% to $1.66 billion, below estimates. For the next quarter, the company forecasts adjusted earnings per share of 70 cents, exceeding analysts’ expectations, with revenue around $1.85 billion, aligned with market forecasts.

Visa (NYSE:V) – Visa shares rose 2.6% in pre-market after announcing earnings that exceeded expectations. Visa reported earnings per share of $2.51, excluding extraordinary items, with revenue of $8.78 billion. Analysts surveyed by LSEG had expected earnings per share of $2.44 and revenue of $8.63 billion.

TE Connectivity (NYSE:TEL) – TE Connectivity shares fell 0.9% in pre-market after second-quarter results revealed earnings per share of $1.86, an increase of approximately 13% year-over-year, with sales of $3.97 billion. Orders reached $4 billion, surpassing sales for the first time in six quarters. The forecast for the third quarter is earnings per share of $1.85, with sales of $4 billion, but the appreciation of the U.S. dollar could pose a hurdle, with an estimated impact of 15 cents per share due to exchange rates.

Baker Hughes (NASDAQ:BKR) – Baker Hughes shares fell 2.4% in pre-market, despite the company surpassing analysts’ expectations in the first quarter, driven by higher international drilling demand. Its total revenue rose to $2.79 billion in the international segment. Adjusted earnings were 43 cents per share, while total revenue increased 12.3% to $6.42 billion. Analysts’ average estimates were adjusted earnings per share of 40 cents and revenue of $6.37 billion.

Enphase Energy (NASDAQ:ENPH) – Enphase Energy shares fell 8.3% in pre-market, following the latest earnings report, along with revenue projections for the current quarter that disappointed Wall Street. Enphase reported earnings of 35 cents per share with revenue of $263 million in the first quarter, while analysts had expected 40 cents per share and revenue of $280 million, according to LSEG. The company indicated it expects to generate revenues in the second quarter between $290 million and $330 million, below the consensus forecast of $349 million.

SunPower (NASDAQ:SPWR) – SunPower identified distortions in its fiscal year 2022 results, predicting a revenue reduction between $15 million to $25 million due to capitalized deferred costs and misclassifications of expenses. The review of the numbers is still ongoing.

Mattel (NASDAQ:MAT) – Mattel shares rose 2.8% in pre-market after announcing a smaller-than-expected loss per share. Mattel reported a loss of 5 cents per share in the first quarter, while analysts expected 12 cents, according to LSEG. Mattel’s revenues were $810 million for the quarter, below Wall Street’s estimate of $832 million.

Philip Morris International (NYSE:PM) – Philip Morris International exceeded quarterly earnings expectations, driven by the strength of its smoke-free growth strategy. Adjusted earnings were $1.50 per share, above the expected $1.41. Quarterly revenue of $8.8 billion also surpassed estimates of $8.44 billion. Organic revenue from the smoke-free business increased nearly 25%, boosting an organic gross profit increase of 37.5%. The adjusted operating profit margin grew to 44.5%, from 42% a year ago. For the second quarter, the company expects adjusted earnings per share between $1.50 and $1.55, below the $1.62 predicted by analysts. For 2024, PM now anticipates adjusted earnings per share between $6.19 and $6.31, lower than the previous estimate of $6.32 to $6.44.

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