US markets ended lower on Wednesday after posting initial gains federal reserve raising of the key interest rate by 25 basis points, which was in line with expectations.

Markets trimmed initial gains post Fed presidency Jerome Powell said the central bank still sees inflation as too high and said it was too early to say the cycle of rate hikes was over.

Meanwhile, the following are five stocks that are catching investors’ attention:

1. Tesla Inc TSLA: Shares of the electric vehicle maker closed up 0.19% on Wednesday. Tesla was again taking orders for its model 3 Long range in the US after an eight-month hiatus. The Model 3 Long Range is available to order now on the company’s website for $47,240. with deliveries expected in June.

Also read: How to invest in startups

2. apple inc AAPL: Shares of Apple closed 0.65% lower and lost another 1.1% in extended trading. The iPhone manufacturer is expected to report on this Second quarter results on Thursday. Wall Street believes Apple could announce $90 billion in buybacks and dividends, matching last year’s authorization count. reported CNBC based on a compilation of analyst reports.

3. Western Alliance Ban Corporation WHALE: Bank holding company shares closed 4.4% lower and lost another 22.42% in extended trading. Regional bank stocks sold off sharply after this news PacWest Bancorp PACW has explored strategic options, including a possible sale.

4. ImmunoGen Inc. IMGN: Shares of the company closed 135.77% higher on Wednesday after the company’s ovarian cancer drug showed overall Survival benefit in a phase 3 study.

5. Qualcomm Inc QCOM: Shares of the company closed 2.82% lower on Wednesday and lost another 6.5% in extended trading. Qualcomm reported revenue of $9.28 billion in the second quarter, down 17% year over year. Total revenue topped a street consensus estimate of $9.1 billion. according to Benzinga Pro.

Continue reading: 7 Market Experts Analyze Fed’s Latest Rate Hike: ‘Tug of War Between…

[ad_2]

Source story