Hot Stocks: TSLA, INTC fall on supply concerns; MCD earnings miss; NFLX attracts Pershing Square
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While the Federal Reserve took center stage during the previous session, earnings news was back in focus for Thursday's pre-market trading. Continuing a recent theme, Tesla (NASDAQ:TSLA) and Intel (NASDAQ:INTC) both posted better-than-expected quarterly results, but saw their shares fall on supply chain worries.



McDonald's (NYSE:MCD) also lost ground in the wake of its financial figures. Shares fell on an earnings miss.


Looking at one of the morning's standout gainers, Netflix (NASDAQ:NFLX) rallied in pre-market action on news that a high-profile investor had stepped into the beleaguered stock.


Decliners


Tesla (TSLA) failed to get a boost from a stellar earnings report, as concerns about supply chain bottlenecks weighed on the stock. As a result, shares dipped about 1% in pre-market action.


TSLA reported quarterly non-GAAP net income of $2.9B, with revenue that jumped 65% from last year to $17.7B. However, the EV powerhouse warned that its facilities can't run at full capacity because of supply chain problems, an issue investors fear could leak into 2022 results.


Elsewhere, McDonald's (MCD) came under pressure following the release of its quarterly results. The fast-food chain reported Q4 non-GAAP EPS of $2.23 -- $0.11 below the amount projected by analysts. Revenue failed to top consensus as well, despite rising 13% from last year to reach $6B.


Hurt by the earnings miss, MCD slipped nearly 3% before the opening bell.


Earnings news also sparked a pre-market slide in Intel (INTC). The semiconductor maker beat expectations for its latest quarter but warned that supply constraints could stretch into 2023.


Meanwhile, analysts worried about the company's heavy investment plans and a potential PC inventory correction. Given the outlook, INTC slipped about 3% in pre-market action.


Gainer


Embattled streaming service Netflix (NFLX) got a boost in pre-market action by the news that high-profile hedge fund Pershing Square has acquired more than 3.1M shares of the company. With the vote of confidence, the stock, which has set a series of new lows lately, bounced 5% before the opening bell.


For more on the day's best- and worst-performing stocks, head over to SA's On The Move section.