Tesla reported an earnings miss for the second quarter, leading to a nearly 6% drop in its shares. The company's free cash flow turned negative, indicating pressure on its profit margins.
In contrast, Lockheed Martin's shares surged 6% after it posted better-than-expected earnings of $7.94 per share on revenue of $20.06 billion, surpassing analyst expectations of $7.19 per share on revenue of $19.34 billion. The company also raised its full-year earnings outlook, which is a positive signal for investors.
Alphabet's shares fell 4.5% after the company increased its capital expenditures outlook for 2026 to between $195 billion and $205 billion, up from a previous estimate of $190 billion, as it aims to strengthen its artificial intelligence capabilities.
IBM's stock faced pressure after reporting second-quarter results that fell short of analyst expectations, following a significant sell-off the previous week. Texas Instruments reported second-quarter earnings of $2.14 per share, exceeding the forecast of $1.93, but its shares declined by 3.2%.
Eli Lilly announced plans to seek approval for a new obesity drug in early 2027 after successful trials, although its shares dipped slightly. Comcast reported an earnings beat for the second quarter, with shares rising slightly as it highlighted strength at NBCUniversal ahead of a planned spinoff