Hot Stocks: TSLA & AA gain on earnings, T slides on cash flow expectations, UAL also falls
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Quarterly earnings have many of Wall Streetâs top names on the move. Tesla (NASDAQ:TSLA) and Alcoa (NYSE:AA) are both in the green as each firm delivered the investment community with higher than forecasted quarterly results.
At the same time, AT&T (NYSE:T) slid lower as the company cut its full-year free cash flow expectations. Also in the red are shares of United Airlines Holdings, Inc. (NASDAQ:UAL) as it came up shallow on earnings.
Gainers
Shares of the electric vehicle giant Tesla (TSLA) rose 2.5% in premarket trading after the stock reported stronger than expected profits from its Q2 earnings report. Elon Muskâs Tesla posted non-GAAP EPS of $2.27 and revenue of $16.9B. Moreover, Wall Street analysts had anticipated $1.80 and $17.1B, respectively.
Alcoa (AA) jumped 3.7% early on as the firm reported higher than forecasted Q2 earnings and revenues while also publicizing an additional $500M authorization for future stock repurchases. AA delivered Q2 Non-GAAP EPS of $2.67 which beat estimates by $0.18. AA also delivered revenue of $3.64B which topped the consensus by $160M.
Decliners
AT&T (T) finds itself down by 3.3% on Thursday after the wireless carrier posted cuts in its full-year free cash flow expectations. AT&T now expects full-year free cash flow to be $14B, with $10B coming in the second half, which is lower from a prior outlook of $16B. 
United Airlines Holdings, Inc. (UAL) crumbled 7% in premarket trading as the global airline carrier fell short on its Q2 earnings according to analyst expectations. While the UAL accomplished the highest Q2 revenue tally in its history, EPS came in at $1.43 vs. $1.88 consensus.
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