Tesla, Warner Bros. Discovery, Lennar and more

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News Update - Forward Markets

Check out the companies making headlines ahead of time:

Tesla (TSLA) – Tesla fell 1.2% in premarket trading after Elon Musk showed an SEC filing. and sold $3.6 billion in stock. The stock is down 55% since Wednesday.

Warner Bros. Discovery (WBD) – Warner Bros. Discovery has raised its program costs for planned content removals by $1 billion to a total of $3.5 billion. The media company has been implementing cost-cutting measures since the merger AT&TWarnerMedia division and Discovery earlier this year. Warner Bros. Discovery lost 1.2% in the premarket.

Lenor (LEN) – Lenor fell 2.6% in the premarket after forecasting a slowdown in orders for new homes due to higher mortgage rates. The homebuilder posted lower-than-expected revenue in its latest quarter, though revenue came in slightly higher than analyst estimates.

Novavax (NVAX) – Novavax fell 9.2% in premarket trading after the drugmaker announced a $125 million common stock offering and $125 million in convertible debt.

Western Digital (WDC) – Western Digital was downgraded to sell from neutral at Goldman Sachs, pointing to continued declines in the flash memory market. Western Digital declined 4.7% in premarket activity.

AT&T (T) – AT&T was downgraded from overweight to equal weight at Morgan Stanley, citing AT&T’s performance this year and slower growth for the company in 2023. AT&T fell 1.4% in premarket trading.

Trading desk (TTD) – Jefferies held off on buying the digital advertising company, praising the company’s “best-in-class fundamentals” but noting an offset from a higher valuation multiple. The trade desk fell 3.3% in the premarket.

Snap (SNAP) – Shares of the social media company were downgraded to buy hold at Jefferies, which said Snap faces stiff competition and a worsening economic picture. Snap lost 2.1% in premarket trading.


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