Tesla Tumbles, American Airlines Sinks, Allegion Rises | Stock Movers

Today's biggest winners and losers in the stock market, a look at the notable movers:

On this episode of Stock Movers:

- Tesla (TSLA) shares tumbled after disappointing quarterly results raised questions about Elon Musk’s plan to refocus the electric vehicle maker on artificial intelligence and robots. Profit fell short of Wall Street’s estimates for the period as spending on ambitious initiatives surged to $5.8 billion, resulting in Tesla’s first cash burn in two years. The company still expects capital expenditures in excess of $25 billion this year, and executives are now predicting even larger outlays going forward to support expansion of factory operations and AI development.

-American Airlines (AAL) shares sink as much as 9.3%, the most intraday in a year, after the airline operator slashed its annual guidance and forecast a loss per share for its third quarter due to sharply higher fuel costs compared with the year-ago period.

- Shares of Allegion (ALLE) rose after the global security products and solutions provider raised its full-year outlook for revenue and adjusted earnings per share. The stock was up 11% to $155.38 in recent trading, paring its year-to-date decline to 2.9%. Chief Executive John Stone said the company sees continued strength in its Americas non-residential business and positive momentum in demand indicators, but there is weaker demand in some European markets.

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Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.

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Tesla Tumbles, American Airlines Sinks, Allegion Rises