U.S. Stocks to Watch: Tesla, Applied Materials, Boeing, Rumble, and More

Dow Jones
Oct 03

Stock futures were rising Friday, pointing to fresh record highs, as investors continued to shrug off the government shutdown. The U.S. jobs report for September, which was scheduled for release on Friday, will be delayed by the shutdown.

These stocks were poised to make moves Friday:

Tesla was rising 1.6% in premarket trading after falling 5.1% on Thursday even as the electric-vehicle maker reported third-quarter deliveries of 497,099 cars, a record for any quarter. The stock drop Thursday ended a four-session winning streak. Tesla has gained 8% this year.

Meanwhile, a group of shareholders led by New York City employee pension funds filed a letter with the Securities and Exchange Commission Thursday urging their fellow Tesla investors to oppose CEO Elon Musk's proposed $1 trillion pay package. "We are concerned that the Board remains fixated on pleasing Mr. Musk, rather than responsibly addressing his many varied pursuits, at least some of which have come at the expense of Tesla shareholders," the letter read.

Rivian Automotive, a smaller rival to Tesla, was up 0.4% ahead of the open of trading. Shares fell 7.4% on Thursday as Rivian's third-quarter deliveries rose by nearly 32% and exceeded analysts' estimates but the EV company reduced its full-year delivery guidance. The shares have closed lower for six consecutive sessions.

Applied Materials fell 3.8% in premarket trading after the chip-equipment maker said new U.S. export rules would crimp its fourth-quarter revenue by $110 million and its 2026 revenue by $600 million. Applied Materials said the Bureau of Industry and Security's Affiliate Rules -- expanding the list of companies subject to restrictions -- will restrict its ability to export certain products and services to China-based customers without a license.

Boeing stock edged up 0.2% even as Bloomberg reported the aerospace giant's 777x jet would be delayed until 2027. The plane's first commercial flight is slated for early 2027 instead of next year, Bloomberg reported, citing people familiar with the matter. Boeing didn't immediately respond to a request for comment from Barron's early Friday.

Fair Isaac extended gains, rising 1.8%, following a jump Thursday of 18% -- the stock's largest daily percentage increase since Nov. 10, 2022, according to Dow Jones Market Data. The credit scoring service provider unveiled new pricing models that would allow companies providing credit reports to directly access FICO scores, thereby bypassing credit bureaus like Equifax, TransUnion and Experian. Equifax and TransUnion tumbled 8.5% and 11%, respectively, on Thursday, while U.S.-listed shares of Experian declined 4.3%. All three were rising modestly in premarket trading.

Digital-asset exchange Coinbase Global was down 0.3% in premarket trading and Strategy, the large Bitcoin holder formerly known as MicroStrategy, slipped 0.4%. Coinbase closed up 7.5% on Thursday and has risen for five straight sessions, while Strategy finished with a gain of 4.1% as Bitcoin rose to nearly $121,000. The world's largest cryptocurrency has climbed 1.1% to $120,019 over the past 24 hours.

Shares of oil-and-gas producer Occidental Petroleum were up 1.5% ahead of the opening bell. The stock fell 7.3% on Thursday after Occidental Petroleum reached an agreement to sell its petrochemical business to Berkshire Hathaway for $9.7 billion.

Rumble rose 13% after forming a partnership with Perplexity to use the company's artificial intelligence tools for improving video discovery on its platform.

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