Some stocks are gaining traction in intraday trading today. Tesla, for instance, saw its shares dip by about 4%. This followed a report on first-quarter deliveries that fell short of expectations, with the company delivering 358,000 vehicles—a 14% decrease from the previous quarter. Analysts had anticipated around 370,000 deliveries.
Nike also experienced a downturn, plummeting more than 2% and marking its second consecutive day of losses. The sneaker giant had issued a bleak forecast earlier this week, revealing a 20% decline in sales in China for the current quarter, leading to a significant drop of over 15% on Wednesday.
On the other hand, Coherent and Lumentum, both manufacturers of optical transceivers, are making headlines as the top gainers on the S&P 500 index, possibly heading for their third day of rising shares. Coherent saw an uptick of over 4%, while Lumentum increased by more than 5%.
Wingstop’s stock surged around 6%, buoyed by upgrades from Piper Sandler, which raised its rating to Overweight and set a price target of $190—pointing to an improving risk-reward scenario for investors.
In contrast, Blue Owl, the alternative asset manager, experienced a decline of 1% after it revealed heightened redemption demands on two of its private credit funds, imposing a request cap of 5% for each fund.
Energy stocks rose as oil prices jumped following a speech by President Trump that implied a continuation of tensions in Iran. Diamondback Energy increased by 2%, while major players like APA, ConocoPhillips, and Chevron saw gains of about 1%.
Meanwhile, major cruise lines hit a rough patch after Trump’s speech failed to provide a clear end to the conflict in Iran, contributing to renewed concerns about demand. Stocks for Carnival fell by 3%, Royal Caribbean by 1%, and Norwegian Cruise Line by 2%.
The airline sector also faced challenges, with rising oil prices resulting in share declines for Delta Air Lines and Southwest Airlines, both dropping by 2%. United Airlines saw a slightly steeper fall of 3%.
General Motors’ shares fell more than 3%, following an announcement that reported a 9.7% decrease in first-quarter sales compared to the previous year. This decline, along with fears that rising oil prices may alter consumer spending habits, raised concerns for the entire auto market.
On a more positive note, Globalstar, the mobile satellite service provider, rose by 9% after a Financial Times report indicated that Amazon is in talks to acquire the company. Amazon’s stock remained relatively stable, and while Amazon did not provide comments, Globalstar also remained silent on the developments.
Penguin Solutions, which specializes in computing and memory solutions, jumped 13% after its second-quarter results surpassed market expectations. Adjusted earnings stood at 52 cents per share, eclipsing the FactSet consensus estimate of 42 cents, with revenue at $343 million—above the anticipated $339 million.
Shares of liquefied natural gas exporters also increased, driven by concerns that ongoing conflicts in the Middle East might disrupt global outputs. NextDecade rose 6%, and Cheniere Energy climbed about 2%. Fertilizer stocks similarly benefitted from worries about sustained closures in the Strait of Hormuz affecting supplies, with CF Industries inching up 1%, Intrepid Potash gaining around 4%, and LSB Industries also rising by 1%.
