Walmart, StoneCo, Cisco, Wolfspeed, Tesla: Why These 5 Stocks Are Drawing Investor Attention Today

U.S. stocks ended Wednesday in the red. The Nasdaq Composite experienced a dip, shedding around 160 points. The Dow Jones Industrial Average fell 0.52% to reach 34,765.74. The S&P 500 mirrored the Nasdaq’s trajectory, albeit with a smaller decline of 0.76%, settling at 4,404.33.

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

Walmart Inc. WMT

Walmart’s shares showcased volatility throughout Wednesday. The retail giant is poised to unveil its second-quarter earnings on August 17. Analysts anticipate an earnings report of $1.70 per share and a revenue tally of $160.19 billion. This comes on the heels of Target’s better-than-expected financial results, potentially signaling a positive trend for the broader retail sector. Year-to-date, Walmart’s stock has surged by 12.34%. The stock closed with a 0.05% increase at $159.26, reaching an intraday high of $160.97 and a low of $158.37. Its 52-week range spans from $128.07 to $161.62.

StoneCo Ltd. STNE

StoneCo maintained its growth trajectory in 2Q23, consistently outperforming market projections. The company reported a net revenue of BRL 3 billion, marking a 28% YoY increase. Adjusted EBT was BRL 447 million, a staggering 489% rise compared to 2Q22. The Financial Services segment grew by 32.0% YoY, with a revenue of BRL 2.6 billion. Adjusted net income reached BRL 322 million, up 477% from 2Q22. Stone’s MSMB TPV grew 3.7 times above the industry, according to the Brazilian Association of Credit Card and Services Companies data. Pedro Zinner, StoneCo’s CEO, emphasized the company’s commitment to innovation and transparency. The stock declined by 2.06% to close at $13.34, with an intraday high of $14.15 and a low of $13.28. Its 52-week range is between $8.07 and $14.83.

Cisco Systems, Inc. CSCO

Shares of Cisco soared in the post-market trading on Wednesday following the company’s impressive fourth-quarter earnings report. Cisco unveiled earnings of $1.14 per share, surpassing analyst expectations. The company’s revenue stood at $15.20 billion, marking a 16.01% year-over-year increase. Scott Herren, Cisco’s CFO, highlighted the company’s robust software revenue growth and emphasized its commitment to enhancing shareholder returns. The stock declined by 0.73% to close at $52.96, with an intraday peak of $53.52 and a trough of $52.87. Its 52-week range is between $38.6 and $53.89.

Wolfspeed, Inc. WOLF

Wolfspeed’s shares took a hit in the after-hours trading on Wednesday. The company’s fourth-quarter financial results were mixed, and its Q1 EPS guidance was below market expectations. Despite the challenges, Gregg Lowe, Wolfspeed’s CEO, expressed pride in the company’s achievements, particularly the shipment of its first product from the Mohawk Valley fab. The stock dipped by 2.31% to settle at $53.17, with an intraday high of $54.83 and a low of $53.08. Its 52-week range is a vast span between $39.02 and $125.48.

Tesla, Inc. TSLA

Tesla’s shares faced a sharp decline in premarket trading on Wednesday. Following aggressive price cuts for its Model S and X vehicles in China, the electric vehicle maker announced further reductions for inventory Model S and X vehicles in the region. Such price cuts often spark bearish sentiments among investors, signaling potential demand slowdowns. Gary Black of Future Fund commented on the price cuts, suggesting a more long-term strategic approach for Tesla China. The stock decreased by 3.16% to close at $225.6, with an intraday high of $233.97 and a low of $225.38. Its 52-week range is between $101.81 and $314.67.

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