U.S. 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 Bancorporation (NYSE:WAL) and Abbott Laboratories (NYSE:ABT) rose following their results, Netflix Inc (NASDAQ:NFLX) stock fell due to a downbeat forecast. Meanwhile, the following are the five stocks that are drawing investors' attention:
1. Tesla Inc (NASDAQ:TSLA): Shares of Tesla closed 2.02% lower and lost another 6.06% in extended trading. The EV-maker reported revenue of $23.33 billion for the first quarter, up 24% year-over-year. However, Tesla's operating margin fell 779 basis points to 11.4% during the first quarter compared to the same period a year ago.
Also Read: Everything You Need To Know About Tesla Stock
2. Rivian Automotive Inc (NASDAQ:RIVN): Shares of the company closed 4.54% lower on Wednesday. RBC Capital analyst Tom Narayan downgraded the stock from ‘Outperform' to ‘Sector Perform' while cutting the price target from $28 to $14, citing short-term concerns over limited catalysts.
3. IBM (NYSE:IBM): Shares of IBM closed 1.14% lower but gained 1.73% in extended trading. The company's first-quarter revenue increased 0.4% year-over-year to $14.25 billion, which missed an average analyst estimate of $14.35 billion, according to Benzinga Pro.
4. Zions Bancorporation NA (NASDAQ:ZION): Shares of the company closed 7.42% higher but lost 4.65% in extended trading. The company reported a 25% jump in its net interest income to $679 million. Net interest margins improved to 3.33% compared to 2.6% during the year-ago period. However, total deposits fell 16% to $69.2 billion.
5. Lam Research Corporation (NASDAQ:LRCX): Shares of the company closed 0.88% lower on Wednesday but gained 0.91% in extended trading. The company reported a 4.67% drop in revenue at $3.87 billion for the quarter that ended in March compared to the same period last year.
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