Tesla, Microsoft, PacWest, Alphabet, Enphase Energy: Why These 5 Stocks Are Drawing Investors' Attention Today

Major Wall Street indices closed over 1% lower on Tuesday as a plunge in deposits at First Republic Bank FRC rekindled investor concerns about the banking sector's health, while a sluggish forecast by United Parcel Service, Inc. UPS added to worries about the economy. Market participants also weighed in the fact that the U.S. consumer confidence fell to nine-month lows in April.

Meanwhile, following are the five stocks that are drawing investors' attention:

1. Tesla Inc TSLA: Shares of Tesla closed 1.16% lower on Tuesday. The EV-maker is now charging less for the cheapest version of the Model Y SUV compared to what the typical new vehicle sells for in the U.S., reported Bloomberg.

Also Read: Everything You Need To Know About Tesla Stock

2. Microsoft Corp MSFT: Shares of the software giant closed 2.25% lower on Tuesday but gained over 8% in extended trading to nudge closer to the $300-mark after it announced the quarterly earnings figures. Microsoft's third-quarter revenue increased 7% year-over-year to $52.9 billion, beating a consensus estimate of $51.02 billion, according to Benzinga Pro.

3. PacWest Bancorp PACW: Shares of the bank closed 8.92% lower on Tuesday but gained over 13% in extended trading. PacWest recorded earnings per share at $0.66, higher than an estimate of $0.61 a share, according to Benzinga Pro. Total deposits increased $1.1 billion to $28.2 billion on March 31, compared to the most recent update of $27.1 billion as of March 20, 2023.

4. Alphabet Inc GOOG GOOGL: Both Class A and Class C shares of Alphabet closed over 2% lower on Tuesday but gained over 1.6% in extended trading. The tech giant reported first-quarter revenue of $69.79 billion, up 3% year-over-year. The revenue total beat a Street estimate of $68.9 billion, according to data from Benzinga Pro. Alphabet said its board of directors has authorized the company to repurchase up to an additional $70 billion of its Class A and Class C shares.

5. Enphase Energy Inc ENPH: Shares of the company closed 1.78% lower and lost another 16.59% in extended trading on Tuesday. The company reported quarterly sales of $726.02 million, which missed a consensus analyst estimate of $732.30 million. Enphase Energy said it sees second-quarter revenue in a range of $700 million-$750 million as compared to the consensus estimate of $772.96 million.

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