Trending tickers: Tesla, IonQ, IBM, Arcturus and Unilever

Tesla (TSLA)

Tesla reported a rebound in quarterly revenue overnight, marking the end of two consecutive periods of decline. However, profits fell sharply as higher costs and lower vehicle prices weighed on the results. The weaker-than-expected earnings sent the electric carmaker’s shares down almost 4% in pre-market trading.

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Revenue for the third quarter rose 12% year on year to $25.18bn, while automotive revenue climbed 6% to $21.2bn from $20bn in the same period last year, the company said.

However, net income fell 37% to $1.37bn, or 39 cents per share, compared with $2.17bn, or 62 cents per share, a year earlier. The company attributed the decline in profitability to lower electric vehicle prices and a 50% rise in operating expenses, driven in part by investment in AI and “other R&D projects.”

The end of the quarter coincided with the expiration of federal tax credits for electric vehicles, which were scrapped under president Donald Trump’s recent spending bill. The looming deadline prompted a rush of demand as consumers sought to benefit from the incentive before it disappeared.

Overnight, Elon Musk appealed directly to shareholders to back his proposed $1tn compensation package, a deal that would grant him tranches of Tesla (TSLA) shares upon meeting a series of performance targets. Musk said the plan was not primarily about financial gain but about consolidating his influence within the company.

Read more: Lloyds profits fall 36% in third quarter after bank flags higher car finance costs

“The point is... there needs to be enough voting control to give a strong influence,” he said. “But not so much that I can’t be fired if I go insane.”

Musk also lashed out at proxy advisory firms Institutional Shareholder Services and Glass Lewis, which have urged investors to reject the package.

“Like I said, I just don’t feel comfortable building a robot army here and then being ousted because of some asinine recommendations from ISS and Glass Lewis who have no freaking clue,” he said. “I mean, those guys are corporate terrorists.”

IonQ (IONQ)

Shares in IonQ surged more than 18% on Thursday following reports that the Trump administration is in talks with several quantum computing companies about taking equity stakes in exchange for federal funding.

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The Wall Street Journal reported that companies including IonQ, Rigetti Computing (RGTIW) and D-Wave Quantum (QBTS) are in discussions with the government over potential agreements that would make Washington a shareholder. The talks reportedly involve minimum funding commitments of $10m per company.

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Other firms such as Quantum Computing (QUBT) and Atom Computing are said to be considering similar arrangements, according to the report.

Read more: UK dividends fall as share buybacks drag on growth outlook

The move would mark a deepening of the White House’s interventionist approach to strategic technology sectors. Earlier this year, Trump announced plans for the US government to take a 10% stake in Intel (INTC), converting federal grants into an equity position, an unprecedented step in modern American industrial policy.

IBM (IBM)

IBM reported third-quarter results that topped Wall Street expectations and raised its full-year guidance, citing momentum from AI. But a slowdown in software and cloud revenue growth unsettled investors, sending the stock down 6% in pre-market trading.

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The company posted adjusted earnings of $2.65 per share, beating analyst estimates of $2.45, and revenue of $16.33bn, ahead of forecasts of $16.09bn, according to LSEG data. Net income rose to $1.74bn, swinging from a $330m loss a year earlier, when results were hit by a $2.7bn pension settlement charge.

Despite the stronger headline figures, slower growth in IBM's (IBM) cloud business, which sits within its software division, dampened sentiment. Sales in the hybrid cloud unit, centred on Red Hat, rose 14%, down from 16% growth in the previous quarter.

The deceleration overshadowed the company’s solid overall performance, as investors had been betting on IBM (IBM) to capture more of the surging demand for cloud infrastructure and AI-driven services.

Chief executive Arvind Krishna told investors on a post-earnings call that he expects the hybrid cloud business to return to mid-teen percentage growth, or close to that level, entering 2026.

“A slowdown in Red Hat revenue and software sales...will disappoint some that were hoping for accelerating growth in what is a high-margin segment,” said Michael Ashley Schulman, chief investment officer at Running Point Capital.

Arcturus Therapeutics (ARCT)

Shares in Arcturus Therapeutics edged higher in pre-market trading on Thursday, rising 10% as investors reassessed the company’s experimental cystic fibrosis treatment after a sharp sell-off. The stock had plunged more than 50% in the previous session following mixed results from an early-stage trial.

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The biotech group is developing an inhaled therapy using messenger RNA, or mRNA, technology for cystic fibrosis patients who do not respond to existing marketed treatments.

Trial data showed the drug was generally safe and well tolerated, with imaging results indicating a reduction in mucus plugs in four of six participants. However, improvements in lung function fell short of expectations, weighing on investor sentiment.

Analysts have recently trimmed their outlook for the stock, with the consensus price target dropping from $69.89 to $65.88, reflecting more cautious expectations for Arcturus' (ARCT) future valuation.

Unilever (ULVR.L)

In London, shares in Unilever were just below the flatline even as the consumer goods company revealed stronger than expected underlying sales over the past three months.

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Improving consumer demand in North America and increased pricing help boost sales over the third quarter of 2025.

Nevertheless, the Dove and Marmite maker saw total turnover decline for the period after a drag from currency exchange rates and the sale of brands.

It said turnover fell 3.5% to €14.7bn (£12.8bn) over the third quarter of 2025, compared with a year earlier.

This was linked to a 6.1% decline from currency fluctuations and a 1% decline caused by its disposals, such as The Vegetarian Butcher.

However, it said underlying sales growth was 3.9% year-on-year, amid a boost from its beauty and personal care brands.

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It added that sales volumes across the group were 1.5% higher, with underlying growth also supported by increased pricing.

Beauty and wellbeing sales accelerated to 5.1% over the quarter, including a 2.7% rise in prices. Unilever (ULVR.L) said this included strong sales of Dove hair products, Vaseline, Liquid IV and Nutrafol.

Meanwhile, Cif and Domestos both reported double digit growth within the group’s home care business.

Elsewhere, underlying food sales grew by 3.4%, including a 2.1% rise in pricing, as Hellmann’s reported positive sales.

Fernando Fernandez, chief executive of Unilever, said: “We continued to outperform in developed markets in the third quarter, led by our strong innovation programme, and, following decisive interventions, stepped up our emerging markets performance with a return to growth in Indonesia and China."

“Our performance excluding ice cream showed good sequential improvement, with a step up in volume growth.”

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