American Express, Intuitive Surgical, CSX, Tesla and more stock market drivers

American Express (AXP) stock fell 3.5% in premarket trading after the credit card giant reported second-quarter earnings of $2.89 a share, on revenue of $15.1 billion — a record quarter for both measures. Earnings beat analysts’ expectations, but revenue was lower than estimates of $15.4 billion.

Rail operator CSX (CSX) reported second-quarter revenue of $3.69 billion, down 3% from a year earlier and short of Wall Street’s forecast. The company cited lower fuel and coal prices as among the reasons for the shortages. The stock fell 4.5%.

Intuitive Surgical (ISRG) fell 4.2% in premarket trading after the manufacturer of robotic surgical systems reported second-quarter adjusted earnings that didn’t beat analyst estimates.

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Tesla (Stock ticker: TSLA) was up 0.9% in premarket trade after falling 9.7% Thursday after the electric carmaker’s second-quarter earnings report revealed that profit margins continued to slide on sharp price cuts.

Knight-Swift Transportation (KNX), the largest truckload carrier in North America, reported a 21% drop in second-quarter revenue due to weak demand for its truckloading business. Knight-Swift shares were down 2.7% in premarket trading.

Harley-Davidson (HOG) rose 3% in premarket trading after shares of the motorcycle maker were upgraded to a Buy from Neutral on DA Davidson.

PPG Industries

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(PPG), the manufacturer of paint and coatings, raised guidance for the full year but warned of “continued tepid global industrial production,” and some “incremental slowdown in residential repainting in the United States due to a significant decline in existing home sales.” The stock fell 2.2%.

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SLB (SLB), the oilfield services company formerly known as Schlumberger, reported better-than-expected earnings but Missed consensus on revenue for its second quarter. The stock fell 1.7%.

AutoNation (AN) gained 0.8% after the used car retailer posted Second-quarter earnings beat Wall Street expectations.

carvana

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(CVNA) was down 0.3% in premarket trading. Late Thursday, the stock was downgraded to neutral from overweight by analysts at Piper Sandler. This came after a downgrade to underperform the sector by RBC Capital Markets. Shares of the used car retailer fell 16% on Thursday.

Write to Joe Woelfel at [email protected]

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