Traded marginally lower Wednesday, handing back some of the first quarter’s hefty gains ahead of a slew of Federal Reserve speakers. Tesla stock slid over 5.1% after it disclosed $7 billion in operating losses for its foundry business through 2023, as it lost out more business to its Asian rivals. Netflix stock fell over 1.3%, extending losses after a 4.9% slide on Tuesday after the electric vehicle maker reported a quarterly decline in deliveries for the first time in nearly four years.
Intel stock fell 1.7% after a severe earthquake on the island prompted the chip maker to halt production at some of its facilities. Comcast stock gained 1.7% after a report said the media giant has been discussing entering into talks with David Ellison, the founder of the Skydance media company, for a potential deal. Disney stock fell 0.4% despite billionaire Elon Musk stating he would buy Disney shares should activist investor Nelson Peltz manage to get a seat on the media and entertainment giant’s board