Major Wall Street indices closed over 1% lower on Thursday after producers' price index for January rose 0.7% against an estimate of 0.4% while hawkish comments from Federal Reserve officials also added to investor concerns.
Cleveland Fed President Loretta Mester stated the Fed Funds rate should be brought above 5% and kept there for some time while St. Louis Fed President James Bullard has argued the central bank should have been more aggressive.
These five stocks are drawing investors' attention today:
1. Tesla Inc TSLA: Shares of Tesla closed 5.69% lower on Thursday and lost another 1.93% in extended trading. The company will recall over 362,000 U.S. vehicles to update its full self-driving (FSD) Beta software after regulators said on Thursday the driver assistance system did not adequately comply with traffic safety laws and may cause crashes, according to a Reuters report.
Also Read: Everything You Need To Know About Tesla Stock
2. DraftKings Inc DKNG: Shares of the company rose 4.94% in extended trading. DraftKings reported revenue of $855 million for the quarter ended December, registering an increase of 81% compared to $473 million during the same period in 2021. The company said it is raising its fiscal year 2023 revenue guidance to a range of $2.85 billion to $3.05 billion from the range of $2.8 billion to $3.0 billion.
3. DoorDash Inc DASH: Shares of the company closed 5.32% higher on Thursday. The company reported a 40% year-over-year increase in revenue at $1.81 billion, above analyst estimates of $1.77 billion, according to Benzinga Pro. DoorDash reported a loss of $1.65 per share in the fourth quarter, higher than the 68-cent-loss-per share expected by analysts.
4. Moderna Inc MRNA: Shares of Moderna closed 2.8% while it lost another 5.49% in extended trading on Thursday. The company released its interim Phase 3 safety and immunogenicity results for mRNA-1010.
5. Stem Inc STEM: Shares of Stem closed 4.98% lower and lost another 7.6% in extended trading on Thursday. The company reported a net loss of $35 million versus a net loss of $34 million in Q4 2021.
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