Tesla, Amazon, Provention Bio, Polestar, Palo Alto Networks: Musk's Court Case, Job Cuts, Earnings Pull Investor Eyeballs

Major Wall Street indices closed in the red and bond yields rose on Thursday as investors and traders digested comments from a Federal Reserve official in the context of potential interest rate hikes in the future. St. Louis Federal Reserve President James Bullard stated on Thursday the central bank still has a lot of work to do before it reins in inflation. Meanwhile, here are the five stocks that are drawing retail investors’ interest today:

1. Tesla Inc TSLA: Shares of the EV-maker closed over 2% lower on Thursday. Elon Musk said in court on Wednesday that he made some Tesla decisions without the nod of the company's directors, as he defended his $56 billion pay package, reported Reuters.

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2. Amazon.com, Inc. AMZN: Amazon.com said on Thursday there would be more role reductions at the company. "Those decisions will be shared with impacted employees and organizations early in 2023", said CEO Andy Jassy in a letter to Amazon employees, according to a Reuters report.

3. Provention Bio Inc PRVB: Provention said on Thursday the U.S. Food and Drug Administration has given its nod for the use of TZIELD (teplizumab-mzwb) in those aged eight years and older — the first treatment targeted at delaying the onset of insulin-dependent type 1 diabetes.

4. Polestar Automotive Holding Uk Plc PSNY: Shares of the company closed over 6% higher on Thursday while it has gained over 15% in five days. The Swedish automotive brand’s new Polestar 2 BST model has received rave reviews since its launch.

5. Palo Alto Networks Inc PANW: Shares of the cybersecurity company rose close to 7% in extended trading on Thursday after it reported an upbeat set of third-quarter results. Total revenue for the fiscal first quarter of 2023, which ended Oct. 31, grew 25% to $1.6 billion. It has also signed a definitive agreement to acquire Cider Security, a company involved in application security and software supply chain security.

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