“Web maven. Infuriatingly humble beer geek. Bacon fanatic. Typical creator. Music expert.”
Stocks that made the biggest moves pre-market: TSM, TSLA, CVNA
See the companies making headlines before the bell: Tesla — The electric carmaker gained nearly 1% after Goldman Sachs raised its price target by $73 to $248 a share on better-than-expected second-quarter deliveries. Tesla has posted 10 straight days of gains. Although Goldman raised its price target, the investment bank remains neutral on Tesla, with the new target implying a decline of about 5% from Tuesday’s close of $262.33. Taiwan Semiconductor Manufacturing — Shares of the company, which makes semiconductor chips for artificial intelligence giants including Nvidia and Apple, rose 2%. Taiwan Semiconductor reported revenue for April through June this year of NT$673.51 billion, compared with the NT$654.27 billion expected by analysts polled by LSEG, according to Reuters. 3M Co. — Shares fell 1.2% after 3M announced that its chief financial officer, Munish Batulawala, will leave the company “to pursue another opportunity.” The change takes effect July 31. Carvana — The automotive e-commerce platform jumped 4.5% after Needham upgraded it to buy from hold. Needham said the stock could become a “profitable secular growth story,” with higher retail unit sales and gross profit per unit. Walmart — Shares rose 0.3% after Jefferies said the stock remains a top pick, citing its progress in artificial intelligence. The analyst’s $77 price target implies a 10.2% upside over the next 12 months. LegalZoom.com — The stock fell more than 25% after the company lowered its full-year revenue outlook and announced the departure of its CEO, Dan Wernickoff. LegalZoom now expects revenue to come in at $675 million to $685 million. The company issued guidance of $700 million to $720 million. Spotify Technology — Shares of the streaming giant fell more than 1% after it downgraded its rating to neutral, noting that the company’s revenue outlook is “very ambitious.” — CNBC’s Lisa Han, Alex Haring and Spencer Kimball contributed to the report
“Web maven. Infuriatingly humble beer geek. Bacon fanatic. Typical creator. Music expert.”
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