Tesla, Nvidia, GameStop, Palantir and Whitbread

Tesla (TSLA) stock rose in pre-market trading on Tuesday, despite the electric carmaker suffering a steep decline in European sales last month amid continued backlash against chief executive Elon Musk.

According to data released by the European Automobile Manufacturers’ Association (ACEA), Tesla's (TSLA) registrations in the European Union fell 52% year-on-year in April, dropping to 5,475 vehicles from 11,540 in the same month of 2024. Across the broader EU, EFTA and UK region, sales were down 49%

The sharp decline comes as Tesla (TSLA) continues to face reputational challenges linked to Musk’s public political affiliations. The billionaire entrepreneur has drawn criticism for his vocal support of US president Donald Trump, sparking protests at Tesla showrooms across Europe earlier this year.

Over the first four months of 2025, Tesla (TSLA) sales in Europe have fallen nearly 40% compared to the same period last year.

Despite the decline, Musk has reiterated his long-term commitment to the company. In a recent public address, he said he intends to remain at the helm of Tesla (TSLA) for at least the next five years.

Shares in Nvidia (NVDA) traded lower ahead of the US market open, as investors looked ahead to the chipmaker’s eagerly anticipated earnings report, due after the bell on Wednesday.

The consensus among analysts is that Nvidia (NVDA) will post earnings of 73 cents per share for the first quarter, up 16% from a year earlier, on revenue of $43.4bn (£32bn) — a 66% year-on-year increase. However, expectations have softened in recent weeks, with earnings forecasts falling from 93 cents per share 60 days ago.

Nvidia (NVDA), whose graphics processing units are central to the global artificial intelligence boom, has a track record of outperforming forecasts.

AJ Bell's (AJB.L) investment experts, Russ Mould, Danni Hewson and Dan Coatsworth said that Nvidia (NVDA) “has had the happy knack of beating estimates, which on this occasion will be benchmarked against the guidance given by chief executive Jensen Huang alongside the full-year results back in February. Just as important will be any steer or forecasts for the second quarter, which runs from May through to July.”

Nvidia's report is likely to have a broader market impact, given its heavyweight status in the S&P 500 (^GSPC) index. Investors are expected to scrutinise the results for signs of how AI-related demand — and fears of increased competition and tariffs — may affect the sector more widely.

Shares in Nvidia (NVDA) are broadly flat for the year to date, after volatile trading driven by geopolitical uncertainty and concerns over the pace of AI investment. Since the launch of ChatGPT in late 2022, Nvidia alone has accounted for around 17% of the S&P 500’s total gains.

GameStop (GME) shares were trending in pre-market trading as the videogame retailer and original meme stock is set to report results June 9 which will show how much bitcoin (BTC-USD) it may have bought.

Analysts now forecast GameStop (GME) will generate $3.56bn in sales for the current fiscal year — down from $3.82bn last year — and project a further decline to $3.13bn in fiscal 2026, reflecting continued pressure on its core retail operations. Based on these figures, the company’s average sales run rate over the next 12 months would fall to roughly $3.35bn.

Despite the deteriorating sales outlook, recent gains in GameStop’s (GME) share price have been driven not by company fundamentals but by broader crypto market momentum. Bitcoin hit an all-time intraday high of $111,986.44 and a record closing high of $111,226.68 last week, boosting companies perceived to have crypto exposure.

GameStop (GME) has thrown its support behind digital assets. Earlier this year, its board unanimously approved an update to the company’s investment policy, allowing bitcoin to be used as a treasury reserve asset.

Shares in Palantir (PLTR) rose 3% in pre-market trading on Tuesday, as enthusiasm over the data analytics company’s exposure to artificial intelligence and a wave of new government contracts continued to support investor confidence.

The stock has surged nearly 62% since the start of 2025, outperforming most of its tech-sector peers, though analysts caution that the rally has come with a steep valuation. The company has benefited from increasing enterprise demand for streamlined data operations, as well as momentum from a proposed federal overhaul led by the Musk-chaired Department of Government Efficiency under Trump.

Palantir (PLTR) raised its full-year guidance earlier this month, citing growing AI adoption. However, shares slipped at the time of the report amid concerns over the pace of international expansion.

Despite that pullback, Palantir (PLTR) has continued to notch new highs in recent weeks, surpassing Salesforce (CRM) in market capitalisation and entering the ranks of the ten most valuable technology firms in the US.

Meanwhile, securities filings show that chief executive Alex Karp sold more than $50mn worth of stock last week. The transactions took place on Tuesday and Wednesday, with shares trading between $125.26 and $127.70.

Premier Inn owner Whitbread (WTB.L) has named Christine Hodgson, who is currently at the helm of Severn Trent (SVT.L), as its new chairwoman.

Hodgson will join the FTSE 100 (^FTSE) company on September 1, replacing current chairman Adam Crozier, who has been in post since 2018.

She has been working as chairwoman of water giant Severn Trent (SVT.L) since 2020, overseeing its recent decision to hike consumer bills by an average 47% over the next five years.

Hodgson’s appointment comes after the hospitality giant revealed a drop in profits on the back of recent restaurant closures and softening demand for hotel rooms in the UK.

Whitbread (WTB.L), which also owns Beefeater restaurants, said earlier in May that profits fell by 14% in the year to February, compared with the previous year.

It said this was partly driven by the impact of a growth strategy that the company started last April, which includes an overhaul of its restaurant business.

The £500m plan, which executives dubbed “Accelerating Growth”, involved converting 112 branded restaurants and selling 126 more.

Hodgson said: “It’s an exciting time to be joining, as the company continues to deliver on its five-year plan, and Premier Inn’s expansion in Germany gathers pace.”

The company hopes this will help it build about 3,500 extra hotel rooms, eventually reaching 97,000 rooms in total.

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