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U.S. markets ended in the red on Thursday, dragged by a plunge in bank stocks and investor concerns ahead of the release of the jobs report on Friday. Market participants remained concerned an unfavorable jobs report could spark more aggressive rate hikes by the Federal Reserve in the coming months. Meanwhile, the following are the five stocks that are drawing investors’ attention:
1. Tesla Inc TSLA: Shares of the company closed 4.99% lower on Thursday. The National Highway Traffic Safety Administration said on Wednesday that it is initiating a preliminary investigation into 120,000 Tesla Model Y vehicles following two reports of steering wheels falling off while driving. Meanwhile, the company has commenced hiring for its planned factory in Mexico, days after announcing the facility, reported Bloomberg.
Also Read: Everything You Need To Know About Tesla Stock
2. SVB Financial Group SIVB: Shares of the company closed 60.41% lower on Thursday and lost another 25.04% in extended trading after it announced the completion of the sale of $21 billion of securities which will result in an after-tax loss of $1.8 billion in Q1 2023 and announced a plan to raise over $2 billion to stem losses from the bond sale. Rating agency Moody’s downgraded the bank’s long-term local currency bank deposit, according to a Reuters report.
3. Ocean Biomedical Inc OCEA: Shares of the company closed 125.16% higher on Thursday. Co-founder Jack Elias presented details from previously published discoveries, highlighting work on understanding the development and progression of lung cancer. The company noted that the discoveries have potential across multiple cancer pathways.
4. Docusign Inc DOCU: Shares of the company closed 1.9% lower on Thursday and lost another 8.06% in extended trading. The company reported fourth-quarter revenue of $659.58 million which beat an estimate of $632.15 million. It also announced CFO Cynthia Gaylor intends to step down from her role in the coming months.
5. Oracle Corporation ORCL: Shares of the company closed 1.83% lower on Thursday and lost another 4.05% in extended trading. The company’s third-quarter revenue increased 21% year-over-year to $12.4 billion, which narrowly missed an average market estimate of $12.42 billion, according to Benzinga Pro.
Read Next: Is The Market’s Tech Obsession Overshadowing A Crisis Brewing In Regional Banking?
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Image and article originally from www.benzinga.com. Read the original article here.