Hormel and Tesla's shares drop, while Salesforce, Macy's, and Kroger shares rise

The following are some stocks that have moved in the last few days, taking into account the broader stock market as a whole which has traded mostly lower for most of the day.

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Shares of Tesla Inc. TSLA, -6.72% are falling about 5% in early morning trading after the electric-vehicle maker's long-awaited investor day on Wednesday was met with disappointment by a lack of detail about new car models and financial projections from management. In terms of the S&P 500 index SPX, 0.49%, the stock was among the biggest losers among the components.

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After Tesla suggested that it would reduce the use of silicon-carbide chips in its next generation of cars, shares of Wolfspeed Inc. WOLF, -7.34%, which specializes in silicon-carbide chips often used in electric vehicles, fell 11.6%.

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There were several other big decliners in the S&P 500 as well, including ON Semiconductor Corp.'s stock ON, -2.61%, which shed 7.0% after the chip maker was downgraded by Raymond James, as well as Hormel Foods Corp.'s stock HRL, -4.68% shed 4.0% after the parent company of Planters, Skippy, and Spam brand foods reported fiscal first-quarter profit and sales that were below expectations, citing inflationary pressure, supply chain inefficiencies, and weaker demand.

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On the other hand, going in the opposite direction, and helping to support the Dow Jones Industrial Average DJIA, 0.85%, was Salesforce Inc. CRM, +12.25. After delivering better-than-expected earnings for the software company, the stock of the company surged 12.4% after its recent missteps incurred 18% losses in the past 12 months and sparked an influx of activist investors.

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The Dow Jones Industrial Average gained 122 points, or 0.4%, while the S&P 500 Index fell 0.3%, and the Nasdaq Composite Index COMP, 0.44% declined 0.6%.

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Aside from Salesforce's stock being the best performer in the S&P 500, the second best performer was Kroger Co.'s stock KR, 5.06%, which rallied 5.2% after the grocery-store chain reported fourth-quarter profit and same-store sales that exceeded expectations and provided an optimistic outlook for the year ahead.

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Among other decliners, Silvergate Capital Corp.'s stock SI, -55.58% plunged 43.6%, enough to lead the NYSE's decliners as investors were frightened by the crypto-friendly lenders delaying of the filing of its annual report and a "going concern" warning which spooked them.

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OKTA Inc. OKTA, 12.71%'s shares surged 10.7% after revealing results and forecasts that exceeded expectations.

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Shares of Snowflake SNOW, -11.55%, which fell 14.7% after the company's revenue forecast was revised, plunged 14.7% after the report. Despite FactSet's consensus call for $582 million, the data software group said after Wednesday's closing bell that it expects to generate product revenue between $568 million and $573 million in the first quarter.

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As retailers stepped up and reported results before the opening bell on Thursday, Macy’s Inc. M, 10.52% stood out as one of the most impressive. The department store chain beat earnings forecasts for the fourth quarter and offered upbeat guidance for fiscal 2023, which lifted its shares 11.6%.

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After Big Lots Inc. reported a much narrower-than-expected loss for its fiscal fourth quarter, which helped offset a miss on sales and a downbeat outlook in its latest earnings report, the discount home essentials retailer's stock got an 8.5% boost.

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