Tesla falls premarket after cutting spending forecast
Today 09:07
BUZZ-Tesla falls premarket after cutting spending forecast ** Tesla TSLA.O shares fall nearly 5% premarket after co cuts annual capex forecast
** Co posts surprise positive Q3 FCF, but invested less than expected in AI ambitions
** Expects 2026 capex to be roughly $20 bln, down from its previous forecast of more than $25 bln
** Q3 capex was $4.7 bln, below analyst expectations, per LSEG data
** Separately, Reuters reported that some TSLA insiders were concerned Musk's public comments on a potential SpaceX merger could invite shareholder scrutiny and complicate deal talks
** YTD, stock down about 14% vs 15% rise in the Nasdaq .IXIC
(Reporting by Rashika Singh in Bengaluru)
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