02:30 PM EDT, 10/03/2024 (MT Newswires) -- Levi Strauss (LEVI) shares dropped amid heavy trading Thursday after the company reported overnight fiscal Q3 revenue that missed estimates by analysts and started a formal review of alternatives for its Dockers brand, including a potential sale.

Shares slumped 7.1%, with intraday trading volume at over 8.1 million compared with a daily average of about 1.69 million.

Tesla (TSLA) removed its most affordable Model 3 sedan from its website's US order page in a signal that recent tariffs on Chinese imports present a "double edge sword" for US automakers, Wedbush Securities said Thursday.

The Model 3 standard range rear-wheel drive that was priced at around $39,000 uses lithium iron phosphate battery cells sourced from China, according to analysts including Daniel Ives. These components fall under recent US tariffs that include a 100% duty on EVs and 25% on EV batteries and key minerals, Ives said.

Meanwhile, Bloomberg reported Tesla's Chief Information Officer Nagesh Saldi is leaving.

Shares dropped 4% as intraday trading volume reached over 61.2 million versus a daily average of about 92.9 million.

Guggenheim adjusted Warner Bros. Discovery's ( WBD ) price target to $9 from $12, while maintaining its buy rating.

Shares slid 3.7% as intraday trading volume stood at more than 15.8 million compared with the stock's daily average of about 32.8 million.

Price: 19.57, Change: -1.50, Percent Change: -7.10