By Liz Moyer
Investing.com — Tech boosted the major indexes, fueled by a better than expected report on fourth quarter gross domestic product. Here are the midday movers for Jan. 26.
- Tesla Inc (NASDAQ:TSLA) shares rose 9% after the electric vehicle maker beat expectations and reported record operating earnings for the fourth quarter. Recent price cuts for some of its vehicles is seen boosting demand.
- Chevron Corp (NYSE:CVX) shares are up 4% after the oil major announced plans to buy back $75 billion of stock amid record profit in the industry. Chevron also boosted its dividend.
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Southwest Airlines Company (NYSE:LUV)shares were down 4% after the carrier reported a net loss of $220 million in the fourth quarter or 38 cents a share. Analysts had expected a loss of 7 cents a share.
- Las Vegas Sands Corp (NYSE:LVS) shares were up nearly 7% after the casino operator said revenue rose 11% in the recent quarter. It reported a loss for the period but said it is optimistic about a return in demand.
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Seagate Technology PLC (NASDAQ:STX)stock rose 10% after it beat expectations. Adjusted earnings per share of 16 cents compared with the average estimate for 9 cents, and revenue also beat forecasts.