Tesla was almost 5 percent higher on the stock exchanges in New York on Thursday. Investors processed the quarterly figures of the electric car manufacturer, which turned out somewhat better than expected.
Tesla saw profits more than double in the second quarter compared to a year ago but made less profit than in the first quarter. That was because the company could deliver fewer cars last quarter due to the corona lockdowns in China.
It also responded to the interest rate decision of the European Central Bank (ECB). As a result, interest rates in the euro area rose by 0.5 percentage points. It was the first increase in eleven years.
Shortly after opening, the Dow-Jones index was 0.6 percent lower at 31,700 points. The broad S&P 500 fell 0.4 percent to 3,943 points, and tech gauge Nasdaq lost 0.2 percent to 11,873 points.
Aluminum producer Alcoa was up 0.3 percent thanks to well-received quarterly figures and the announcement to buy back its own shares for 500 million dollars. Likewise, travelers insurance companies rose 0.4 percent after the publication of the quarterly results.
United Airlines dropped more than 9 percent. The airline returned to profit last quarter thanks to the strong recovery in ticket demand after the corona crisis. However, investors had expected even better results. Competitor American Airlines also wrote black figures in the second quarter, after a loss a year ago. The company also expects to return to profit in the third quarter. The stock nevertheless lost 6.8 percent.
AT&T fell nearly 10 percent. The telecom group recorded more turnover and profit than expected last quarter but became slightly more gloomy about the rest of the year. Carnival plunged more than 13 percent after the cruise line said it wanted to raise $1 billion by issuing new shares.
Ford added 0.8 percent. The automaker plans to cut about 8,000 jobs. However, the company thinks this will increase profits and accelerate the switch to electric cars, Bloomberg reports based on anonymous sources.
Didi Global advanced 4.6 percent. The Chinese authorities have fined the taxi service more than 8 billion yuan, or about 1.2 billion euros. The fine follows an investigation into the company’s data use.
