24H | Quantumscape Jumps 11%; Meta, Texas Instruments Rise 2%; Tesla Falls 3%; IBM Drops 4%; Lam Research Sinks 7%

US Overnight
10/22

Dow Futures fell 0.29%, S&P 500 Futures fell 0.39%, Nasdaq Futures fell 0.58% as tech-led risk aversion persisted in overnight trading.

Quantumscape jumped 11.31% in overnight trading. The company narrowed its third-quarter loss and plans a new production line.

Meta gained 2.39% in overnight trading. Q3 revenue grew 26% to a record $64.6 billion, and it introduced non-voting shares to fund AI investment.

Texas Instruments rose 2.17% in overnight trading. The analog chipmaker guided fourth-quarter revenue above Wall Street estimates.

SAP SE rose climbed 1.99% in overnight trading. The Europe's largest tech company achieved a €10 billion ($11.2 billion) quarterly revenue milestone for the first time, while reporting a 26% rise in current cloud backlog and lifting its 2026 revenue outlook to the upper end ​of its range.

Las Vegas Sands fell 1.73% in overnight trading after the casino company missed analyst expectations for both revenue and earnings per share.

Tesla fell 2.92% in overnight trading. Capex of $4.73 billion lagged forecasts and commentary offered few new details following its quarterly report.

IBM fell 4.29% in overnight trading. Results topped expectations but margins and segment mix were mixed, even as it raised its annual software revenue outlook.

Lam Research fell 6.63% in overnight trading. Shares slid after results beat but the outlook failed to impress, prompting a post-earnings pullback.

Some chip stocks also dropped in overnight trading. Direxion Daily Semiconductors Bull 3x Shares and Applied Materials fell 3%; KLA Corporation, Marvell Technology, and Intel fell 2%; AMD and Arm fell 1%.

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