Major Wall Street indices closed over 1% lower on Tuesday as deposits tumbled Bank of the First Republic FRC revived investor concerns over the health of the banking sector, while a sluggish forecast was carried through United Parcel Service, Inc. UPS added to concerns about the economy. Market participants also weighed on the fact that US consumer confidence fell to a nine-month low in April.
Meanwhile, the following are five stocks that are catching investors’ attention:
1. Tesla Inc TSLA: Shares of Tesla closed down 1.16% on Tuesday. The EV maker is now charging less for the cheapest version of the Model Y SUV compared to what a typical new car costs in the US, reported Bloomberg.
Also read: Everything you need to know about Tesla stock
2. microsoft corp MSFT: Shares of the software giant closed 2.25% lower on Tuesday but was up over 8% in extended trading to approach the $300 mark after it announced quarterly earnings numbers. Microsoft’s revenue rose 7% year over year to $52.9 billion in the third quarter, beating the consensus estimate of $51.02 billion. according to Benzinga Pro.
3. PacWest Bancorp PACW: Shares of the bank closed 8.92% lower on Tuesday but were up over 13% in extended trading. PacWest posted earnings per share of $0.66, according to Benzinga Pro, which is above the estimate of $0.61 per share. Total deposits increased by $1.1 billion to $28.2 billion as of March 31 compared to the last update of $27.1 billion as of March 20, 2023.
4. alphabet inc GOOD Google: Both Class A and Class C shares of Alphabet closed over 2% lower on Tuesday but were up over 1.6% in extended trading. The tech giant reported revenue of $69.79 billion in the first quarter, up 3% year over year. Total revenue topped a Street estimate of $68.9 billion to data from Benzinga Pro. Alphabet said its board of directors has authorized the company to repurchase up to an additional $70 billion of its Class A and Class C shares.
5. Enphase Energy Inc ENPH: Company shares…
[ad_2]
Source story