The S&P 500 index soared past the 5,150-point mark, reclaiming its record-high territory, driven by comments from Fed Chair Jerome Powell hinting at potential interest rate cuts. The tech-heavy Nasdaq 100 also climbed, rising 1.5% for the day to 16,273.38. The S&P 500 ended the session 1.03% higher at 5,157.36.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Broadcom Inc. AVGO
Broadcom closed the day with a 4.22% increase at $1407.01. The company reported first-quarter earnings of $10.99 per share, beating the analyst consensus estimate. Quarterly sales came in at $11.96 billion, surpassing the analyst consensus estimate.
Marvell Technology Inc. MRVL
Marvell Technology ended the day with a 4.57% increase at $85.09. The company reported fourth-quarter revenue of $1.427 billion, beating the consensus estimate. Earnings per share were in line with analyst estimates.
Costco Wholesale Corporation COST
Costco closed the day with a 1.60% increase at $785.59. The retailer reported a total revenue of $58.44 billion in the second quarter, missing the Street consensus estimate. Net sales were stated as $57.33 billion, up 5.7% year-over-year.
MongoDB, Inc. MDB
MongoDB ended the day with a 0.61% increase at $412.01. The company reported fourth-quarter earnings of 86 cents per share, beating the analyst consensus estimate. Quarterly sales were $458 million, surpassing the analyst consensus estimate.
Tesla Inc. TSLA
Tesla closed the day with a 1.20% increase at $178.65. The company’s shares have been trading lower, adding to losses of more than 12% for the week. Tesla shares experienced significant losses, dropping over 12% in the week, marking its worst performance since January. This decline follows disappointing sales figures in China, with Tesla selling only 60,365 vehicles in February, a decrease of 15.51% from January. Additionally, operations at Tesla’s Gigafactory in Germany were halted due to a suspected arson attack.
Photo by Jirapong Manustrong on Shutterstock
Prepare for the day's trading with top premarket movers and news by Benzinga.
Read Next: ‘Dogecoin Killer’ Shiba Inu Soars 90% In A Single Day — But These Indicators Are Flashing ‘Sell’
Engineered by Benzinga Neuro, Edited by Shivdeep Dhaliwal
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
