Broadcom, Marvell Technology, Costco, MongoDB, Tesla: Why These 5 Stocks Are On Investors' Radars Today

The S&P 500 index soared past the 5,150-point mark, reclaiming its record-high territory, driven by comments from Fed Chair Jerome Powell hinting at potential interest rate cuts. The tech-heavy Nasdaq 100 also climbed, rising 1.5% for the day to 16,273.38. The S&P 500 ended the session 1.03% higher at 5,157.36.

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

Broadcom Inc. AVGO

Broadcom closed the day with a 4.22% increase at $1407.01. The company reported first-quarter earnings of $10.99 per share, beating the analyst consensus estimate. Quarterly sales came in at $11.96 billion, surpassing the analyst consensus estimate.

Marvell Technology Inc. MRVL

Marvell Technology ended the day with a 4.57% increase at $85.09. The company reported fourth-quarter revenue of $1.427 billion, beating the consensus estimate. Earnings per share were in line with analyst estimates.

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Costco Wholesale Corporation COST

Costco closed the day with a 1.60% increase at $785.59. The retailer reported a total revenue of $58.44 billion in the second quarter, missing the Street consensus estimate. Net sales were stated as $57.33 billion, up 5.7% year-over-year.

MongoDB, Inc. MDB

MongoDB ended the day with a 0.61% increase at $412.01. The company reported fourth-quarter earnings of 86 cents per share, beating the analyst consensus estimate. Quarterly sales were $458 million, surpassing the analyst consensus estimate.

Tesla Inc. TSLA

Tesla closed the day with a 1.20% increase at $178.65. The company’s shares have been trading lower, adding to losses of more than 12% for the week. Tesla shares experienced significant losses, dropping over 12% in the week, marking its worst performance since January. This decline follows disappointing sales figures in China, with Tesla selling only 60,365 vehicles in February, a decrease of 15.51% from January. Additionally, operations at Tesla’s Gigafactory in Germany were halted due to a suspected arson attack.

Photo by Jirapong Manustrong on Shutterstock

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