Tesla, Rivian, IBM, Zions, Lam Research: Why These Five Stocks…

Tesla, Rivian, IBM, Zions, Lam Research: Why These Five Stocks…

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US markets ended in the flat zone on Wednesday after investors and traders weighed in a mixed set of corporate earnings. While shares of Western Alliance Ban Corporation WHALE And Abbott Laboratories AWAY rose after their results, Netflix Inc NFLX The stock fell on a gloomy forecast. Meanwhile, the following are five stocks that are catching investors’ attention:

1. Tesla Inc TSLA: Shares of Tesla closed 2.02% lower and lost another 6.06% in extended trading. The EV maker reported sales of $23.33 billion for the up 24% year over year in the first quarter. However, Tesla’s operating margin fell 779 basis points to 11.4% in the first quarter compared to the year-ago period.

Also read: Everything you need to know about Tesla stock

2. Rivian Automotive Inc RIVN: The company’s shares closed down 4.54% on Wednesday. RBC capital analyst Tom Narayan downgraded the stock to “Sector Perform” from “Outperform” while lowering the price target to $14 from $28 short-term concerns about limited catalysts.

3. IBM IBM: Shares of IBM closed 1.14% lower but gained 1.73% in extended trading. The company’s revenue rose 0.4% year over year to $14.25 billion in the first quarter, missing a median analyst estimate of $14.35 billion. according to Benzinga Pro.

4. Zion’s Ban Corporation NA ZION: The company’s shares closed 7.42% higher but lost 4.65% in extended trading. The company reported a 25% increase in its net interest income to $679 million. The net interest margin improved to 3.33% compared to 2.6% in the same period last year. However, total deposits fell 16% to $69.2 billion.

5. Lam Research Corporation LRCX: The company’s shares closed 0.88% lower on Wednesday but gained 0.91% in extended trading. The company reported a 4.67% decline in revenue to $3.87 billion for the quarter ended March compared to the same period last year.

Continue reading: What’s up with Bed Bath & Beyond Stock?

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