Tesla's Margin Miss Sends Stock Futures and Tech Lower

US stock futures fell as weaker-than-expected quarterly profit at Tesla weighed on electric-vehicle stocks, with Tesla shares falling as much as 7% in pre-market training. Shares of traditional automakers making the push into EVs followed Tesla lower with both Ford and General Motors falling more than 2% in pre-market trading. IBM shares rose roughly 1.5% in pre-market trading as the company reported adjusted earnings per share of $1.36 against a Street estimate of $1.25, while American Express shares ticked higher in pre-market trading as the company's $14.3 billion in revenue beat estimates.