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Market Analysis
Stocks to Watch Today: TSLA, IBM, MOH
Tesla and Molina Healthcare soared on strong earnings beats while IBM tumbled after missing revenue targets.
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Major corporate earnings drove significant stock movements on Thursday, with Tesla (NASDAQ: TSLA) shares surging on strong profits and growth projections, while IBM (NYSE: IBM) dropped on weak enterprise spending, and Molina Healthcare (NYSE: MOH) jumped on better-than-expected results.
Tesla (TSLA) Shares Soar on Surprise Earnings Beat
Tesla saw its biggest single-day gain in over three years, with shares soaring more than 19% to $254.77 as of 12:36 PM EDT after reporting stronger-than-expected third-quarter earnings.
The electric vehicle maker beat profit expectations with adjusted earnings per share of $0.72 versus $0.58 expected, though revenue slightly missed at $25.18 billion. CEO Elon Musk boosted investor confidence by projecting 20-30% vehicle growth for 2025, well above analysts’ 15% forecast, while noting positive margins on the Cybertruck and $326 million in Full Self-Driving revenue.
IBM (IBM) Shares Fall After Firm Fails to Impress with Third Quarter Results
IBM shares tumbled 6.7% to $217.13 as of 12:36 PM EDT, potentially erasing over $13 billion in market value, after the technology giant reported disappointing third-quarter results.
While revenue grew 1% to $14.97 billion, it fell short of the $15.07 billion estimate as reduced enterprise spending on non-GenAI projects and consulting headwinds weighed on performance. The company’s software segment provided a bright spot with 9.7% growth to $6.52 billion, though management warned of continued challenges in consulting and infrastructure heading into 2025.
Molina Healthcare (MOH) Becomes One of the Day’s Top Performers
Molina Healthcare emerged as one of the day’s top performers, with shares surging 22.4% to $336.65 as of 12:36 PM EDT after delivering strong third-quarter results.
The healthcare insurer reported earnings per share of $6.01, beating estimates of $5.96, while revenue jumped to $10.34 billion, exceeding expectations by 3.80%. The company has now topped both earnings and revenue estimates for four consecutive quarters, demonstrating consistent execution despite being down 21.4% year-to-date before today’s gains.
Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices quoted at 12:36 PM EDT.
Tim Fries
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird's US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
