Live S&P 500 Earnings News: Tesla (TSLA) & Lam Research (LRCX) Jump After Earnings

The stock market just opened on Thursday and the big story is earnings news. Let’s look at how major indexes are doing:

• S&P 500: +16.43 (+.30%)
• Nasdaq Composite: +38.03 (+.23%)
• Dow Jones Industrial Average: +23.36 (+.05%)

Tesla (Nasdaq: TSLA) was among the companies that reported last night and while the company missed both profit and sales expectations, investors are looking past last quarter as Elon Musk highlighted several longer-term initiatives like the launch of a a robotaxi service this year.

Another company on the move that’s worth monitoring is Lam Research (Nasdaq: LRCX), which is up 4% following earnings that beat on the top and bottom lines. As an equipment supplier to the semiconductor industry, its results (along with ASML earlier in the week) speak to continuing growth in the industry following the DeepSeek-fueled sell-off on Monday.

Let’s look at some of the most important S&P 500 storylines following yesterday’s earnings bonanza.

Tesla Rallies Following Earnings

Tesla shares are up 3.2% in early trading.

The company reported revenue of $25.7 billion, well below Wall Street estimates of $27.2 billion. In addition, earnings came in lower than expected (adjusted EPS of $.73 versus expectations of $.75).

However, with Tesla already announcing deliveries below expectations, results last quarter were already expected to be poor. Instead, investors today are focusing on longer-term commentary from the company.

Specifically, Tesla said they plan to launch a robotaxi service in Austin by the middle of the year. In addition, Elon Musk talked up plans to ramp up production of the company’s Optimus robots by next year.

Let’s check in on what Wall Street is saying following their earning:

• Morgan Stanley: Says that Tesla’s fourth-quarter results “highlight its transition from an automotive company to a broader AI and robotics play.”
• RBC Capital: Says that Tesla achieved inventory reduction through aggressive discounting which impacted margins last quarter. However, they cheered the company affirming new models in the first half of the year and the company’s planned robotaxi launch next summer and Optimus production scaling in 2026.

As you can see, there’s little focus on last quarter’s results. Are the timelines around a robotaxi service and Optimus too ambitious? Likely, knowing Elon Musk’s track record in these areas.

However, with shares trading at more than 130X this year’s earnings, investors are betting results in the coming year matter very little and are more concerned with the company’s leadership in future markets like autonomous cars and robotics.

Lam Research Boosts Semiconductor Stocks

Another stock to watch today is Lam Research. The company reported earnings last night that exceeded Wall Street expectations across the board. Revenue of $4.38 billion topped Wall Street forecasts of $4.3 billion while EPS of $.92 beat expectations of $.88.

While much of the focus on Lam Research is on the growth of AI markets, the company saw a rebound in core areas like NAND.

In addition, growth areas from the company such as advanced packaging (used in booming AI markets like high-bandwidth memory) and gate-all-around (used in cutting-edge logic chips) are expected to produce $3 billion in revenue combined in 2025.

Overall, Lam Research’s earnings are just another data point after positive earnings from ASML earlier in the week that the market for semiconductor equipment could exceed expectations in 2025. Stocks in this space have fallen mostly on fears that trade restrictions to China will hamper growth throughout the year.

However, both Lam Research and ASML outperformed even while revenues to China began decreasing.