Major Wall Street indices closed at least 1% higher on Wednesday, led by upbeat outlook by companies including Micron Technology Inc. MU that eased investor concerns about the economy.
Micron President and CEO Sanjay Mehrotra told analysts on an earnings call that the memory chip industry would witness a record 2025 in terms of market size, according to a Reuters report.
Meanwhile, following are the five stocks that are drawing investors' attention:
1. Tesla Inc TSLA: Shares of the company closed 2.48% higher on Wednesday in line with the broader market move. The EV-maker is scheduled to report its first-quarter deliveries number this weekend. Market participants would be eyeing whether the recent price cuts across geographies have helped boost volumes.
Also Read: Everything You Need to Know About Tesla Stock
2. RH RH: Shares of the company closed 1.83% higher but lost 5.38% in extended trading. The company reported Q4 revenue of $772.5 million that missed an analysts' estimate of $779.75 million. Its Q4 earnings per share stood at $2.88, missing analysts' estimate of $3.34.
3. Rumble Inc RUM: Shares of Rumble closed 4.8% higher on Wednesday. The video-sharing platform announced measures to support creators and grab market share from other platforms. Rumble said that for the rest of the year, creators will receive 100% of the revenue from the purchase of monthly subscription badges, which Rumble recently launched for the price of $5 per month.
4. Stem Inc STEM: Shares of the company closed 10.42% lower on Wednesday after the company announced plans to raise funds through a $175 million green convertible senior notes offering. Stem said it intends to use the funds to retire a portion of its bonds issued earlier and also for general corporate purposes.
5. Viking Therapeutics Inc VKTX: Shares of the company closed 3.17% higher on Wednesday but lost 3.08% in extended trading. The company announced a share sale offering and said it intends to use the proceeds for the development of some of its programs coupled with general research and other corporate purposes.
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