Intuitive Machines, Palo Alto Networks, Enovix Corp, Teladoc Health, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Benzinga Neuro

February 20, 2024

Wall Street reopened on a weaker note following Monday's market closure, with all major U.S. stock averages in the red due to a broad decline in technology stocks.

At the end of Tuesday’s trading day, the Nasdaq declined by 0.9% to 15,630.78. The S&P 500 dropped 0.6% for the day at 4,975.51 and the Dow Jones Industrial Average by 0.17% at 38,563.80.

Investors are focusing on key market events scheduled for Wednesday, including the release of the latest minutes from the Federal Open Market Committee and Nvidia Corporation’s earnings report after the market closes.

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

Intuitive Machines Inc (NASDAQ:LUNR) saw a significant uptick, closing up 50.14% at $10.99, with an intraday high of $12.05 and a low of $8.77. The company’s shares have surged following the successful launch of its Nova-C class lunar lander on SpaceX's Falcon 9 rocket, now en route to the Moon. The mission’s progress and the health of the IM-1 mission vehicle have sparked considerable interest among investors.

Palo Alto Networks Inc (NYSE:PANW) experienced a slight decrease of 0.09%, closing at $366.09. The company’s fiscal second-quarter earnings report surpassed expectations, with a notable 19% year-over-year increase in revenue to $1.98 billion and a positive outlook from CEO Nikesh Arora on the company’s platformization and AI leadership strategies.

Enovix Corp (NASDAQ:ENVX) dropped by 3.76%, ending the day at $11.78. Despite a mixed fourth-quarter earnings report, the company’s advancements in high-volume manufacturing and the development of leading smartphone batteries have kept investor interest alive. The company expects first-quarter revenue to be between $3.5 million and $4.5 million compared with estimates of $4.56 million.

Teladoc Health Inc (NYSE:TDOC) fell by 2.57%, closing at $20.49. The company’s fourth-quarter financial results showed a year-over-year revenue increase, but missed consensus estimates. CEO Jason Gorevic remains optimistic about the company’s future and its focus on delivering high-quality healthcare. Teladoc anticipates a first-quarter earnings loss of 45 cents to 55 cents per share compared with estimates of 43 cents per share.

Tesla, Inc. (NASDAQ:TSLA) saw a decline of 3.10%, ending at $193.76. Concerns over electric vehicle demand in China and the production of Cybertrucks have impacted the stock. Analysts continue to debate the company’s profitability and market position.

Prepare for the day's trading with top premarket movers and news by Benzinga.

Photo by Jirapong Manustrong on Shutterstock

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