Check out the companies making the biggest moves premarket: Tesla — Shares were down nearly 6% after the company reported an earnings miss for the second quarter. Tesla's free cash flow also turned negative as margins came under pressure. Alphabet — The Google parent fell 4.5% after it increased its capital expenditures outlook for the year to bolster its artificial intelligence capabilities.

Alphabet expects to spend between $195 billion and $205 billion in 2026, up from a previous guidance of as much as $190 billion. Lockheed Martin — The defense giant popped 6% after it reported better-than-expected results for the second quarter. Lockheed earned $7.94 per share on revenue of $20.06 billion.

Analysts polled by FactSet expected a profit of $7.19 per share on revenue of $19.34 billion. The company also hiked its full-year earnings outlook. IBM — The legacy tech giant reported a profit and revenue for the second-quarter that came in below analyst expectations.

This comes after the company last week posted preliminary results that sparked the biggest sell-off in IBM stock history. Texas Instruments — The chipmaker reported second-quarter results that beat the Street. Earnings per share came in at $2.14, exceeding an LSEG forecast of $1.93 per share.

Revenue of $5.46 billion topped a consensus estimate of $5.25 billion. Shares were down 3.2%, however.