Stocks moving ahead of the close: Wendy’s, Amazon, Tesla
Yahoo Finance Live's Seana Smith checks up on several trending stocks making moves ahead of Friday's closing bell.
Video Transcript
- We are minutes away from the closing bell. Let's take a look at some of the day's biggest movers. We want to kick it off with Wendy's. Because that intraday chart, you're looking at gains of nearly 6%.
The company rising on positive prelim fourth quarter results. Same store sales increasing 6.4% from a year ago. Net sales climbing 13.4% to more than $536 million. Also, more positive news for Wendy's moving the stock today with a regulatory filing revealing that activist investor Nelson Peltz will not be pursuing a takeover of the fast food chain. Again, gains of just about 5.7% today, Dave.
Yeah, Nelson Peltz will concentrate his attention on Bob Iger and Disney. That is nice to hear, if you're Wendy's. Also nice that he said believes strongly in the future of Wendy's.
McDonald's will also do a bit of a restructuring, similar to what we heard from Wendy's. So we may hear more of that. But certainly, some good news. All upside there for Wendy's.
Yeah, an important name to keep an eye on. Let's talk about Amazon because we're looking at gains of just about 3% today. But it has been a trender all week on our site. Shares up just about 15%.
Let's take a look at that five-day chart. You can certainly see that climb to the upside. Investors have been piling into this name to start the year. Shares up about 16% so far since January 1st.
And, Dave, I think a lot of this optimism potentially has to do with the inflation print that we got, the jobs number, what that has shown, what that could mean for Amazon going forward. Because when you take a look at least at the retail part of their business, you would think that has exposure to that looming recession. And maybe this wouldn't be the best play at this point.
Of course, you're getting that retail basically for free when you look at it. Jason Helfstein from Oppenheimer actually cut his estimate for AWS. And it's still, largely, an AWS story. Cut his estimate by between 1% and 3% for the fourth quarter and for all of '23. But says he's mainly optimistic.
One side note here, Amazon is actually to blame for NFL ratings falling a couple percent this year. Because Thursday Tonight Football was lower than what we saw last year. A bit of a side bar, not related to the stock. But I certainly thought it was interesting.
It will be interesting to see what they do in their streaming business and how much more they could potentially spend on sports here going forward. All right, let's take a look at this board. Because as you can see, certainly, a lot of red on the screen, all these automakers here.
Now, Tesla, the news today, cutting its prices across several of its models. That appears to be a warning sign about potential demand impact that it could have on a number of these names. You have Rivian, Ford, GM all sinking lower.
Ford off just about 5% today, as we look at that intraday chart, which has been popping up there. Rivian off about 6%. GM off about 4.8%. So some concern there about demand, Dave, that they're going to be forced to lower their prices. Pressure margins, that's a big thing.
