Home| Features| About| Customer Support| Request Demo| Our Analysts| Login
Gallery inside!
Markets

Tesla, Seagate, Sherwin-Williams, Mobileye Stocks on the Rise Today

Stocks were rising Thursday after strong GDP data eased fears of a recession.

January 26, 2023
3 minutes
minute read

Stocks were rising Thursday after strong GDP data eased fears of a recession. GDP growth was stronger than expected last quarter, but there are signs of weakness in the data. Friday's inflation data will be key in determining the next steps for the Fed.

GDP growth was stronger than expected last quarter, but there are some signs of weakness in the data. The focus will now shift to inflation data due out on Friday.

The following stocks were making moves on Thursday:

Tesla (ticker: TSLA) was up 8.1% after reporting fourth-quarter earnings that topped Wall Street estimates. Tesla's operating earnings of $3.9 billion in the fourth quarter were a record. The electric-vehicle maker's strong earnings report indicates that its plans for world domination are on track.

The electric-vehicle maker Tesla has reported a record profit, but the company is facing challenges ahead as it has slashed prices to spur slowing sales.

Seagate Technology (STX) saw its stock price jump 9.7% after the company posted better-than-expected earnings for its fiscal second quarter. This positive news led several Wall Street analysts to raise their price targets for the stock.

Sherwin-Williams (SHW) slid 7.5% after the paints company reported a slight earnings beat but issued a disappointing forecast for full-year profit. CEO John Morikis said that the company will not be immune from the challenging demand environment that is expected in 2023. This makes Sherwin-Williams the worst performer in the S&P 500 Thursday.

Jeremy Grantham, a longtime stock market investor, believes that the worst may still be yet to come for the current bear market in U.S. stocks.

Mobileye Global (MBLY) shares rose 5.8% after the supplier of advanced driver assistance hardware and software posted fourth-quarter earnings that beat estimates. Mobileye's strong fourth-quarter results and upbeat guidance showed the growth potential in the self-driving car market. The company's technology is used in a variety of driver assistance systems, and its products are in high demand. continue reading

Mobileye, a provider of technology for advanced driver assistance systems, reported strong fourth-quarter numbers and provided upbeat guidance for the future. The company's strong performance was driven by increased demand for its products and services. Mobileye is well-positioned to continue its growth in the coming year.

Las Vegas Sands (LVS) rose 5.3% after the casino company reported a fourth-quarter loss but said revenue jumped 11%. The company was bullish about demand growth in Singapore.

“I think the important thing to note is that there was this pent-up demand story in Singapore and now it’s blossomed into full-on bonanza. And so, what we’re really seeing is every segment is working,” said Patrick Dumont, president and chief operating officer during the earnings call.

Tractor Supply Company (TSCO) shares rose 5.1% after the retailer posted fourth-quarter earnings that were better than Wall Street expectations. The company reported earnings per share of $1.39, compared to the $1.33 expected by analysts. Revenue came in at $2.17 billion, also ahead of the $2.12 billion expected by Wall Street.

International Business Machines (IBM) stock declined 4.7% after the company posted better-than-expected quarterly revenue. IBM's revenue forecast was also upbeat. However, the company's outlook on free cash flow was slightly disappointing. IBM also said it would be cutting 3,900 jobs.

Revenue was better than expected, but management's outlook for free cash flow was slightly disappointing. While this is not ideal, it is still a positive sign for the company's future.

Southwest Airlines stock is falling after the airline posted a wider-than-expected loss in the fourth quarter. The company reported a net loss of $220 million, or 38 cents per share, while analysts had penciled in a loss of 7 cents per share, according to FactSet.

Tesla, the electric-vehicle maker, reports fourth-quarter earnings that topped Wall Street estimates. Sherwin-Williams is the worst performer in the S&P 500 after issuing disappointing guidance.

Chevron was gaining 4% after the energy giant raised its dividend and announced a new round of buybacks valued at up to $75 billion. Chevron has raised its quarterly dividend to $1.51 per share, giving the energy giant a 3.4% yield. This is higher than Exxon's dividend yield of 3.2%.

SAP's American depositary receipts fell 1.7% after the German enterprise software giant announced plans to reduce its staff by 2.5%. SAP posted revenue of €8.43 billion ($9.1 billion), up 6%, a little shy of the Wall Street consensus. The company said it has begun exploring the sale of its majority stake in Qualtrics, and Qualtrics shares soared 30.1%.

The German enterprise software company posted revenue of €8.43 billion ($9.1 billion), up 6% from the previous year. This is just below the Wall Street consensus.

Tags:
Author
Cathy Hills
Associate Editor
Eric Ng
Contributor
John Liu
Contributor
Editorial Board
Contributor
Bryan Curtis
Contributor
Adan Harris
Managing Editor
Cathy Hills
Associate Editor

Subscribe to our newsletter!

As a leading independent research provider, TradeAlgo keeps you connected from anywhere.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Explore
Related posts.