Midday movers: Tesla, Chevron, Southwest Airlines and more

January 26, 2023 1:19 PM EST

By Liz Moyer -- 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.

  • 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.

  • 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.

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