Stocks making the biggest moves premarket: Boeing, Tesla, BP, Eli Lilly and more
Check out the companies making headlines before the bell. Boeing – The aerospace stock rose more than 5% after the company reported a narrower loss for the first quarter . Boeing said it had a net loss of $31 million in the first quarter, improving on the $355 million loss in the same period last year. Excluding items, the loss of 49 cents per share was better than the $1.18 loss expected by analysts, according to FactSet. CEO Kelly Ortberg said the company will ask the Federal Aviation Administration to approve increased production of 737 Max jets. Tesla – The electric vehicle maker jumped more than 7% despite its first-quarter results missing Wall Street’s expectations. Telsa earned 27 cents per share after adjustments on revenue of $19.34 billion, below the 39 cents per share and $21.11 billion in revenue that analysts surveyed by LSEG were expecting. During its earnings call Tuesday, CEO Elon Musk revealed that the amount of time he spends with the Department of Government Efficiency will decline “significantly” beginning in May . Enphase Energy – The solar technology company’s stock fell nearly 11% after missing Wall Street’s earnings and revenue expectations. CEO Badri Kothandaraman said tariffs will hurt the company’s battery business, which sources from China. Enphase sees tariffs reducing its gross margin by about 2% in the second quarter. Cava – Shares of the fast-casual restaurant chain advanced nearly 6% after receiving an upgrade to outperform from market perform at Bernstein. Analyst Danilo Gargiulo said that he believes the company can be shielded from a downturn in the economy and sees shares rallying more than 40%. Eli Lilly – Shares of the pharmaceutical giant jumped 2% after Eli Lilly filed lawsuits against four telehealth companies selling compounded versions of its weight loss drug Zepbound and its diabetes treatment Mounjaro. Lilly accused the sites of deceiving consumers about “untested, unapproved drugs” and turning them away from Lilly’s products. BP – Shares climbed about 2% after activist investor Elliott Management disclosed in a regulatory filing that it has built a stake of more than 5% in the oil giant. SAP – The stock gained about 8% after the software company reported an earnings beat for the first quarter. SAP earned 1.44 euros per share ($1.64) compared with the 1.32 euros per share that analysts surveyed by LSEG expected. Revenue, however, missed analyst expectations. Bristol Myers Squibb – Shares of the biopharmaceutical giant slid almost 4% on the heels of the company revealing that its drug Cobenfy failed to reach the threshold for a statistically significant difference as a supplemental treatment for adults with schizophrenia in a Phase 3 trial. Capital One Financial – Shares of the credit card company rose about 3% after first-quarter earnings topped expectations. Capital One reported $4.06 in adjusted earnings per share, while analysts surveyed by LSEG were anticipating $3.71. Multiple Wall Street firms raised their price target on the stock, including Bank of America. Intuitive Surgical – Shares moved 7% higher after the surgical robot maker reported first-quarter financial results that beat expectations. Adjusted earnings came in at $1.81 per share, versus the $1.72 anticipated from analysts polled by LSEG. Revenue was $2.25 billion, above the $2.19 billion consensus estimate. Duolingo – Shares popped 4% following Morgan Stanley’s initiation at overweight. The firm set a Wall Street-high price target on the stock and called it a “best-in-class consumer internet asset.” GE Vernova – The energy equipment manufacturer jumped more than 7% after the company maintained its 2025 financial guidance despite an expected hit from tariffs of up to $400 million. GE Vernova is forecasting revenue of up to $37 billion and free cash flow of up to $2.5 billion this year. — CNBC’s Alex Harring, Jesse Pound, Pia Singh, Spencer Kimball and Michelle Fox contributed reporting.
