Key Points To Watch Out For:
- Tesla shares climb 2.5% on robotaxi news.
- GameStop drops 4% on positive quarterly earnings.
- GitLab falls 12% after upbeat outlook fails to impress the market.
Tesla (TSLA): rebound after Musk’s apology and robotaxi announcement
Tesla shares rose 2.5% in premarket trading after Elon Musk said his recent criticism of President Trump was “over the line.” Musk also said Tesla expects to launch its long-awaited robotaxi service on June 22, which sparked renewed interest in the market.
The event promises to showcase major advances in autonomy and mobility as a utility, areas the company considers strategic.
Meta Platforms (META): betting big on AI with Scale AI
Meta is in advanced talks to invest $14 billion in Scale AI, reports say. The deal would also include bringing in the startup’s CEO to lead Meta’s artificial intelligence efforts.
This moves deepens the tech holding company’s focus on generative AI, after reporting progress on its LLaMA language models. Shares are steady in premarket trading.
GameStop (GME): decline despite return to profitability
Video game retailer GameStop reported quarterly earnings for the first time in a number of quarters, despite a drop in sales. However, the market reacted with cynicism and shares are down 4% in premarket trading. The company, linked to the “meme stock” phenomenon, has been facing questions about the viability of its turnaround in a changing digital environment.
GitLab (GTLB): Slump after unconvincing results
GitLab surprised with higher-than-expected adjusted revenue and earnings and also raised its full-year earnings forecast. However, shares fell 12% in premarket trading, a move that reflects high expectations and some concern about its long-term profitability. The market seems to be penalizing growth with still limited profit margins in a segment with strong competition.
Oracle (ORCL): Expectations for afternoon results
Oracle will report results at the close of trading today. Investors will be watching for the performance of its cloud services division, as well as possible progress in its strategy to integrate AI into enterprise products. Comparisons with industry giants such as Microsoft and Salesforce could sway the market’s reaction.
Apple (AAPL): focus on Siri and AI at its annual conference
Apple is continuing its WWDC developer event, which began on Monday with annuncios of software redesigns and visual upgrades. However, the expected update to Siri with artificial intelligence features has not yet been unveiled. The market is watching to see how Apple plans to close the gap with its rivals on the AI front.
General Motors (GM): investment to shield itself from tariffs
General Motors will allocate $4 billion to expand its production capacity in the US. The move comes in respond to pressure faced by major manufacturers due to new tariffs. With this investment, GM seeks to reduction its exposure to imports and adapt to a more protective trade environment.
Alphabet (GOOGL): more cuts to finance AI
Alphabet offered voluntary layoffs to employees in various divisions in the US as part of its strategy to redirect funds to artificial intelligence projects. The company is in the midst of a spending shake-up after pledging multibillion-dollar investments in AI models such as Gemini and its algorithm-powered search tools.
Nintendo (JP:7974): strong sales fail to prevent stock slide
Nintendo sold more than 3.5 million units of the Switch 2 in its first four days following its June 5 launch. Despite the commercial success, shares fell, perhaps reflects even higher market expectations or profit-taking after a positive run. The device is already shaping up to be the strongest hardware launch in the company’s history.
