Major Wall Street indexes fell more than 1% after Tuesday Federal Reserve Chairman Jerome Powell indicated in his testimony before Congress that the central bank would be willing to increase the pace of rate hikes Increases are made if rapid hardening is required, The Dow Jones closed 1.72% lower, entering negative territory on a year-to-date return basis, while yields on 2-year Treasury notes rose to their highest since 2007 at more than 5%. Meanwhile, the following are five stocks that are garnering investor attention:
1. Tesla Inc TSLATesla shares closed down 3.15% on Tuesday. CEO Elon Musk said on Tuesday that the company’s next generation of small cars will operate mostly in autonomous mode, as they did in 2020, Reuters reported.
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2. Amazon.com, Inc. Amazon: Shares of the company closed down 0.21% on Tuesday. The retail giant defeated a proposed class action lawsuit in California on behalf of nearly 7,000 workers that claimed the company was required to reimburse remote-working employees during the pandemic for home office expenses, Reuters reports. should have been reimbursed.
3. CrowdStrike Holdings Inc CRWDShares of the company closed down 2.08% on Tuesday, but gained 5.82% in extended trading. The company reported total revenue of $637.4 million, up 48% over the same period last fiscal year. GAAP loss from operations was $61.5 million compared to $23.5 million in the same period last fiscal year.
4. WW International Inc WWShares of the company closed up 79.07% on Tuesday. The company reported a quarterly loss of $0.46 per share compared to the consensus analyst estimate of a loss of $0.11 per share. WW International also announced that it would acquire sequence for a net purchase price of $106 million.
5. Sagar Limited FromShares of the company closed up 21.78% on Tuesday. The company reported revenue of $3.5 billion in the fourth quarter, Breaking the consensus of $3.06 billion.
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