Major Wall Street indices closed in the green on Thursday after investors and traders questioned the possibility of continued aggression by the Federal Reserve following the release of jobless claims data. The number of Americans submitting new claims for unemployment benefits grew marginally last week, marking the eighth straight week of flat or higher continuing jobless claims, the longest trend since the 2009 financial crisis. Meanwhile, here are five stocks that are drawing retail investors’ attention:
1. Tesla Inc TSLA: Shares of the EV-maker closed 0.34% lower on Thursday. Tesla is likely to shorten production shifts at its Shanghai factory as early as Monday and has delayed the onboarding of some new hires, reported Bloomberg, citing people familiar with the situation. Meanwhile, Elon Musk will likely announce the company’s China President Tom Zhu Xiaotong as the global CEO, according to a report on Chinese news outlet PingWest.
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2. Amazon.com, Inc. AMZN: Shares of the retail giant closed 2.14% higher on Thursday. The retail giant has launched a TikTok-like feature in its app to help customers buy products from a customized feed of photos and videos. Amazon reportedly launched the feature for select customers and looks to extend it across the U.S. in the coming months.
3. Costco Wholesale Corporation COST: Costco announced its net sales for the first quarter increased by 8.1%, to $53.44 billion from $49.42 billion last year. Net income for the quarter stood at $1,364 million compared to $1,324 million last year.
4. Pharvaris NV PHVS: Shares of Pharvaris closed a whopping 339.08% higher on Thursday. The company announced positive top-line data from the RAPIDe-1 Phase 2 clinical study, demonstrating statistically significant results of PHVS416 as an oral on-demand treatment for HAE attacks. Pharvaris said it plans to present data from the study at future medical meetings.
5. Lululemon Athletica Inc LULU: Shares of Lululemon lost 7.17% in extended trading on Thursday. The company announced its quarterly results registering a 28% increase in its net revenue at $1.9 billion. However, for the fourth quarter of 2022, the company expects net revenue to be in the range of $2.605 billion to $2.655 billion. CEO Calvin McDonald said on an earnings call, “We also recognize that the external environment remains challenging with several high-volume weeks still in front of us,” according to CNBC.
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