Tesla, Rivian, Boeing, IBM, Palantir: Why These 5 Stocks Are On Investors' Radars Today

U.S. indices remained mixed on the day when EV giant Tesla released its fourth-quarter earnings data. The Dow Jones Industrial Average declined 0.3% to 37,806.39, while the S&P 500 rose nearly 0.1% to 4,868.55. The Nasdaq was also in the green, it rose 0.4% to 15,481.92.

These are the top stocks that gained the attention of retail traders and investors throughout the day:

Tesla Inc TSLA

Tesla reported a challenging fourth quarter, with revenue at $25.17 billion, up 3% year-over-year but missing estimates. The stock closed down 0.63% at $207.83. Tesla’s Model Y was highlighted as the best-selling vehicle globally in 2023. Despite production and delivery increases, Tesla faces a slower growth rate in 2024 as it focuses on launching its next-generation vehicle.

Rivian Automotive, Inc. RIVN

Rivian’s stock fell 4.36 to $15.34%, reflecting concerns over production and financial forecasts. Deutsche Bank downgraded Rivian from Buy to Hold, with a price target cut from $29 to $19, citing expected volume guidance and factory shutdowns. Rivian announced the leasing availability of its R1S electric SUV, but faces increasing competition in government contracts.

International Business Machines Corp IBM

IBM stock was nearly unchanged at closing at $173.93, but gained 8.2% in the after-hours trading to $188.20. The company, set to report its fourth-quarter earnings, is expected to showcase its strategic shift towards AI and cloud services. With a focus on hybrid cloud and AI, IBM’s stock has seen an increase of over 22% in the past year. Analysts anticipate $3.76 in EPS and $17.23 billion in revenues.

Boeing Co BA

Boeing shares closed 1.24% higher at $214.13 on Wednesday. Boeing faced setbacks as the FAA halted its 737 Max production expansion amid quality control issues. The stock saw a 0.19% decrease. This decision follows a series of incidents involving the 737 Max aircraft, impacting Boeing’s efforts to meet rising demand amid the pandemic.

Palantir Technologies Inc PLTR

On Wednesday, Palantir stock closed 3.35% lower at $16.75. Palantir’s stock declined by 3.87% amidst challenges in expanding its government contracts. The company faces stiff competition and skepticism over its new AI platform’s potential for future growth. Despite a 138% gain last year, Palantir navigates through data privacy concerns in European markets.

Stocks Photo by Pixels Hunter on Shutterstock

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