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U.S. markets surged on Thursday, following the release of fourth-quarter GDP data that came in better than expected. The U.S. economy grew by an estimated 2.9% in the last quarter of 2022 against economist expectations of 2.6% growth. The Nasdaq Composite and the S&P 500 rose over 1%, while the Dow gained 0.61%. Meanwhile, here are the five stocks that are drawing investors’ attention:
1. Tesla Inc TSLA: Shares of Tesla closed 10.97% higher on Thursday after the company reported better-than-expected fourth-quarter EPS and sales results. Fourth-quarter deliveries came in at 405,278, up 31% year-over-year. CEO Elon Musk told an analyst that if it’s a smooth year, without big supply chain interruptions or massive problems, Tesla has the potential to do 2 million cars this year for which there would be demand as well.
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2. Intel Corporation INTC: Shares of Intel lost 9.27% during extended trading. The company said its fourth-quarter revenue fell 32% year-over-year to $14 billion, below analyst estimates of $14.49 billion. Full-year revenue was $63.1 billion, down 20% year-over-year.
3. Pfizer Inc. PFE: Shares of the company closed 0.92% lower on Thursday. Pfizer could see headwinds in 2023 due to declining COVID-19 cases, according to a UBS analyst. Colin Bristow downgraded Pfizer from ‘Buy’ to ‘Neutral’ and lowered the price target from $55 to $47.
4. Visa Inc V: Shares of Visa gained 1.25% in extended trading. The company posted a GAAP net income of $4.2 billion or $1.99 per share during the first quarter, recording an increase of 6% and 8%, respectively, over the prior year’s results.
5. Northrop Grumman Corp NOC: Shares of the company closed 4.28% lower on Thursday. It reported a fourth-quarter sales growth of 16% to $10.03 billion, beating the consensus of $9.66 billion. However, the company disclosed in an SEC filing that on Dec. 9, 2022, it received a criminal subpoena from the U.S. Department of Justice seeking information regarding financial and cost accounting and controls that appears focused on the interest rate.
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Image and article originally from www.benzinga.com. Read the original article here.