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24H | Beyond Meat Plunges 16%; IBM Sinks 6%; Tesla Drops 4%; QuantumScape Jumps 12%

TigerOct 23, 2025 12:35 AM

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Medpace saw its shares surge 17.1% in overnight trading after the clinical research organization reported third-quarter earnings and revenue that exceeded analyst expectations, while also raising its full-year outlook above consensus estimates.

Solid-state battery maker QuantumScape reported third-quarter earnings that exceeded analyst expectations, sending shares soaring 11.8% in overnight trading.

Las Vegas Sands on Wednesday topped Wall Street expectations for third-quarter profit on strong demand from both its Singapore and Macau businesses, sending its shares up 3.8% in overnight trading.

Tesla shares dropped 3.5% in overnight trading. The EV giant reported record third-quarter revenue that beat Wall Street estimates on Wednesday, driven by the highest quarterly sales of its electric vehicles as U.S. buyers rushed to lock in a key tax credit ahead of its expiry last month.

However, Tesla's profit failed to live up to analysts' expectations, in part due to tariff and research costs, as well as a drop in income from regulatory credits that are expected to continue to fade away with recent legislation passed by the Trump administration.

IBM on Wednesday recorded a slowdown in growth in its key cloud software segment, overshadowing booming AI-driven demand for the company's new mainframe that pushed third-quarter sales and profit above market estimates. The company's shares were down 6.4% in overnight trading.

Beyond Meat shares sank 16.2% in overnight trading. The shares fell 1.1% on Wednesday, erasing a 112% surge as the meme stock rally faltered. The stock reached a high of $7.69 during the session, after closing Tuesday at $3.62. It ended Wednesday’s session at $3.58.

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