Major Wall Street indexes closed more than 1% on Tuesday after investor attention shifted to an upbeat earnings report and the prospect of easing on future US Federal Reserve rate hikes.
Cleveland Federal Reserve President Loretta Meester said on Monday that he thinks the central bank could slow from a hike of 75 basis points at its next meeting and that is very appropriate, Reuters reported. In the meantime, here are five stocks that are drawing investor interest today:
1. Tesla Inc TSLATesla is changing its marketing approach in China in the face of stiff competition from domestic rivals and uneven demand. The company extended an insurance subsidy of 8,000 yuan ($1,100) to new buyers, reported Bloomberg, citing a post by the company. Weibo account. The report said Tesla also reinstated a user referral program and advertised on a local TV shopping channel. Tesla shares closed up 1.22% on Tuesday.
Read also: Best Brokerage & Investment Apps
2. Amazon.com, Inc. amznAmazon’s voice assistant, alexa, Business Insider reported that this year the company is going to have a loss of about $ 10 billion. The company’s “worldwide digital” unit, which includes Alexa, Echo devices and Prime Video, had an operating loss of $3 billion in the first quarter of 2022, the report quoted sources as saying.
3. Polestar Automotive Holding UK plc psnyShares of the company closed up 20.49% on Tuesday after Polestar 2 production reached the 100,000 mark. “The 100,000th Polestar 2 was recently built in Luqiao, China. The car in question is destined for a customer in Ireland, one of the newest Polestar markets, and will feature unique door markings to celebrate the achievement, It said.
4. Nordstrom Inc JWNShares of the company declined 9.14% in extended trade on Tuesday after the firm reported third quarter earnings. Nordstrom reported a net loss of $20 million and a loss per diluted share of $0.13. Its net sales decreased by 2.9% and gross merchandise value decreased by 2.5% compared to the same period in FY2021.
5. autodesk inc ADSK: Shares of Autodesk declined 9.24% in extended trading on Tuesday after the company reported an upbeat set of earnings. Autodesk said third-quarter revenue rose 14% year over year to $1.28 billion, in line with average analyst estimates, according to data from Benzinga Pro. Billings grew 16% year-over-year to $1.36 billion. However, it has reduced its billings and free cash flow guidance.
Read further: Tesla breaks with this pattern. But here’s why there’s a boom on the horizon.