5 stocks to watch for Thursday: Tesla, IBM, Allstate and more
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Stock futures pointed to a higher open on Thursday, as Wall Street looked to regain the upward momentum it saw earlier in the week. This came after the major U.S. equity averages fell during the previous session amid a jump in Treasury yields. Looking at individual names, here are some stocks to watch for Thursday:


A light revenue figure prompted selling pressure on Tesla (NASDAQ:TSLA). Shares of Elon Musk's EV maker dropped 5% in premarket trading even as its top-line figure jumped 56% to about $21.5B. However, this came up short of analysts' expectations by $510M, as logistical troubles and foreign exchange ate into the figure.
Allstate (ALL) lost ground before the opening bell, despite headline results that beat expectations. Shares dropped 10% in premarket action after the insurer estimated catastrophe losses of Q3 of $763M, net of reinsurance. This came amid massive losses caused by Hurricane Ian. All told, the company predicted a Q3 adjusted net loss of $400M-$450M.
American Airlines (AAL) received a premarket boost after the release of its quarterly results. The company topped projections with its Q3 earnings. Revenue rose 50% from last year and came in 13% above pre-pandemic levels of 2019.
Earnings news also gave a boost to AT&T (T), which rose almost 3% after its Q3 profit exceeded analysts' consensus. The telecom giant also added 964K subscribers.
IBM (IBM) reported quarterly results that beat projections on both the top and bottom lines. This came as revenue rose 6% to $14.1B. Looking ahead, IBM's CEO said: "We now expect full-year [2022] revenue growth above our mid-single digit model." Shares rose 4% in premarket action.


Looking at the overall market, Amazon founder Jeff Bezos recently warned that it was time to "batten down the hatches."