US markets ended mixed on Wednesday after the release of economic data sparked recession fears among investors and traders.
What happened: The Institute for Procurement Management said its non-manufacturing PMI fell to 51.2 last month from 55.1 in February, pointing to the services sector slowed more than expected in March.
Simultaneously, BACK The report showed job vacancies fell by 632,000 to 9.9 million on the last day of February, the lowest level since May 2021, according to Reuters.
Meanwhile, the following are five stocks that are catching investors’ attention:
1. Tesla Inc TSLA: The company’s shares closed down 3.67% on Wednesday. The company’s manufacturing center in Austin, Texas, has more than tripled its workforce in the past year, reported Bloomberg quotes what the company told county officials.
Also read: How to invest in startups
2. apple inc AAPL: The company’s shares closed down 1.13% on Wednesday. The company said more of its supply chain is committing to using renewable energy to manufacture its products like iPhones and Macs, Reuters reported.
3. Scilex Holding Co SCLX: The company’s shares closed up 56.57% on Wednesday. Scilex said it is postponing its annual meeting due to previously announced material underreporting of more than 44 million of its common shares by brokers, banks and other nominees.
4. Plug Power Inc PLUG: The company’s shares closed 8.51% lower on Wednesday and are down over 17% since Monday thereafter MorganStanley analyst Andrew Perko downgraded the stock from “Overweight” to “Equal-Weight” and lowered it the price target from $35 to $15. The share price drop comes despite the company’s announcement on Tuesday that it manufactured 122MW of Plug’s 1MW electrolyzer stack platform in the first quarter of 2023, hitting an all-time high.
5. Costco wholesale company COSTS: The company’s shares lost 0.12% on Wednesday and fell another 1.9% in extended trading. Costco reported net sales of $21.71…
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