Written by Brenda Nakalema

Tesla, AT&T, Ford, and More Stock Market Movers Today

Stock futures dropped on Thursday as inflation and recession concerns remained top of mind for investors. The European Central Bank …

Stock futures dropped on Thursday as inflation and recession concerns remained top of mind for investors. The European Central Bank also garnered a lot of attention, with the expectation being to raise interest rates for the first time in 11 years.

Here are the top stock movers in premarket trading on Thursday.

Tesla (ticker: TSLA) released second-quarter adjusted earnings of $2.27 a share, higher than analysts’ forecasts of $1.83. However, earnings and sales during the period dropped from the first quarter. Tesla shares gained 2.6% early Thursday.

AT&T (ticker: T) reported second-quarter adjusted earnings of 65 cents a share, smashing forecasts by 4 cents. The telecom giant cut its guidance for full-year free cash flow. Shares dropped 2.3%.

Ford Motor (ticker: F) announced its plans to cut thousands of workers in order for the company to gain an advantage in the race to win a bigger share of the market for electric vehicles, according to a Bloomberg report. The stock gained by 0.6%.

American Airlines (ticker: AAL) released its second-quarter earnings, narrowly missing Wall Street forecasts. America went on to announce its expectation of profitability in the third quarter. The stock dropped 1.5%.

Home builder D.R Horton (ticker: DHI) reported fiscal third-quarter earnings that toppled analysts’ estimates; however, the company also reduced its revenue guidance for the full year. The stock was down 1.6%.

CSX (ticker: CSX) reported second-quarter earnings and revenue that beat analysts’ expectations. Shares of the company climbed 3.2%.

Carnival (ticker: CCL) dropped 12.7% in premarket trading following the cruise company’s announcement of its plans to sell at least $1 billion in new shares.