Tesla (TSLA)

Tesla shares were lower in pre-market trading after dropping over 8% during Thursday’s session as the company’s share of US electric vehicle sales slid below 50% for the first time.

Elon Musk’s group saw its share in the battery-run car market fall to 49.7% in the second quarter, down from 59% a year earlier, according to Cox Automotive, a car services and data group.

Investors were also spooked after Tesla said it was postponing its planned robotaxi unveiling to October to allow teams working on the project more time to build additional prototypes.

The delay has been communicated internally to Tesla employees but has yet to be announced publicly, Bloomberg reported.

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In its last earnings report, Tesla said the robotaxi will be “purpose built”, which is a term used in the autonomous vehicle industry to describe vehicles built from the ground up to be self-driving and that often lack traditional controls like steering wheels and pedals.

Nvidia (NVDA)

Nvidia lost almost 6% in the last session and was 1% lower in pre-market trading after a “sell the news” reaction to the latest inflation figures appeared to drag on the chip maker.

Investors flocked to interest rate-sensitive stocks after the consumer price index report showed inflation fell last month for the first time since May 2020, raising the prospects of Federal Reserve rate cuts this year.

NVDA stock closed the latest trading session at a valuation of $134.91 after adding 2.68% and 10.92% in the previous five trading days.

Tech heavyweights Meta (META), Apple (AAPL), Microsoft (MSFT), and Alphabet (GOOGL) all fell more than 1%.

In 2023, the AI stock had a huge 239% run and it's up around 159% so far this year, even after the recent drop.

Pfizer (PFE)

Shares in Pfizer were higher in pre-market trading as the pharma company announced it is moving forward with its once-daily weight loss pill.

The US pharmaceutical company said it was planning to start studies to test different doses of the experimental treatment later this year.

The drug is one of several being developed by Pfizer but the company said its once-daily danuglipron treatment was the most advanced and had the potential to be competitive in the market.

The announcement comes as Pfizer struggles to convince investors that it can find a path to growth after the COVID-19 pandemic, as sales of its blockbuster vaccine and other COVID products have plummeted.

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Mikael Dolsten, Pfizer’s outgoing chief scientific officer, said that danuglipron “has demonstrated good efficacy in a twice-daily formulation, and we believe a once-daily formulation has the potential to have a competitive profile in the oral GLP-1 space”.