Today

The United Auto Workers union is expected to announce a new tentative labor contract with $Ford Motor(F.US)$ on Wednesday night after intense bargaining throughout the day, according to people with knowledge of the talks. The UAW, now in the sixth week of its strike at the three Detroit automakers, has called for work stoppages at three Ford factories and sent more than 16,000 U.S. factory workers at the Dearborn, Mich., based car company to picket lines. The two sides have moved closer on key bargaining issues in recent days, the people said. As part of the proposed contract, Ford has agreed to give factory workers a 25% wage increase over the life of the agreement, including a 11% bump in the first year, according to people familiar with the details. The wage increase would bump the top

Thank you Tiger 2023 Huat Ah! 

AT&T(T.US) 17.650 17.680 -10.41% +0.17% Post By Emily Bary Shares of $AT&T(T.US)$ Inc. were on track for their worst day since 2000 Thursday after the company fell short of free-cash flow expectations but reiterated its full-year target on the closely watched metric. Free-cash flow for the first quarter came in at $1 billion, whereas analysts were modeling $3.2 billion. AT&T (T) said previously that the first quarter tends to be seasonally slow on the metric due to the timing of device payments, incentive compensation and other factors, and executives reiterated many of those points Thursday. Capital investments, device payments and incentive compensation "all peaked in the first quarter," Chief Financial Officer Pascal Desroches said on the company's earnings call. Amir Roz

MACRO Fed's Mester Signals Support for Another Hike But Urges Prudence "I anticipate that monetary policy will need to move somewhat further into restrictive territory this year, with the fed funds rate moving above 5% and the real fed funds rate staying in positive territory for some time," Federal Reserve Bank of Cleveland President Loretta Mester said Thursday. "Precisely how much higher the federal funds rate will need to go from here and for how long policy will need to remain restrictive will depend on economic and financial developments," said Mester, a usually hawkish voice who doesn't vote on rates this year. US Recurring Jobless Claims Jump to Highest Since November 2021 Continuing claims, or the number of people who have already filed an initial application and ar

Tesla(TSLA.US) 162.990 163.090 -9.75% +0.06% Post ARK Next Generation Internet ETF(ARKW.US) 49.870 50.590 -2.94% +1.44% Post ARK Innovation ETF(ARKK.US) 37.390 37.460 -3.78% +0.19% Post Shopify(SHOP.US) 48.000 48.401 -2.14% +0.84% Post Cathie Wood-led ARK Investment Management bought a huge stake in $Tesla(TSLA.US)$on Thursday after the EV-maker's shares fell over 9% following CEO Elon Musk's comments on price cuts. What Happened: Funds operated by ARK purchased over 256,000 shares of the EV-maker at an estimated valuation of over $41.7 million based on Thursday's closing price. The purchase was done via the flagship $ARK Innovation ETF(ARKK.US)$ and the $ARK Next Generation Internet ETF(ARKW.US)$ Tesla is the top holding in ARKK with a weight of 9.38%, according to data available on the

Tesla(TSLA.US) 162.990 163.090 -9.75% +0.06% Post By Stephen Wilmot It shouldn't have been a surprise that big price cuts have a big impact on margins, but such is the magical thinking around $Tesla(TSLA.US)$ that somehow it was. The electric-vehicle maker reported an 11.4% operating margin for the first quarter, down from 19.2% a year ago. Analysts were expecting 12.2%, according to FactSet. This was the performance metric Wall Street was most focused on after a series of aggressive price cuts by the company, and the stock fell about 4% in after-hours trading. Tesla's margin decline wasn't just about price cuts. It sold 36% more vehicles in the quarter, but the cost of those vehicles grew by 39%. That implies inflation in the bill of materials despite Tesla's growth, which should allow

By Myra P. Saefong and William Watts Oil futures extended a pullback that's taken the U.S. benchmark back below the $80-a-barrel threshold, erasing gains scored after OPEC+ announced surprise production cuts early this month. Price action West Texas Intermediate crude for May delivery CL.1, -2.17% CLK23, -2.17% fell $1.88, or 2.4%, to $77.28 a barrel on the New York Mercantile Exchange ahead of the contract’s expiration at the session’s settlement. June WTI CL00, -2.37% CLM23, -2.37%, the most actively traded contract, was off $1.97, or 2.5%, at $77.27 a barrel. June Brent crude BRN00, -2.33% BRNM23, -2.33%, the global benchmark, declined $1.99, or 2.4%, to $81.13 a barrel on ICE Futures Europe. Both Brent and WTI prices trade at their lowest levels month to date. Back on Nymex, May gaso

By Myra P. Saefong and Joseph Adinolfi Gold headed higher on Thursday, with prices on track to settle at their highest in a week and holding above the key $2,000-an-ounce threshold. Investors weighed the outlook for interest rates as the Federal Reserve continued their efforts to cool inflation. Price action Gold futures for June delivery GC00, 0.38% GCM23, 0.38% gained $8.70, or 0.4%, to $2,016 an ounce on Comex after losing 0.6% on Wednesday. May silver SI00, -0.28% SIK23, -0.26% rose 2.9 cents, or 0.1%, to $25.40 an ounce. June palladium PAM23, -1.25% climbed 70 cents, or less than 0.1%, to $1,619.50 an ounce, while July platinum PLN23, 0.09% gained $4.80, or 0.4%, to $1,110.50 an ounce. Copper for May HGK23, -1.14% delivery fell by 5 cents, or 1.2%, to $4.029 a pound. Market driver

Microsoft(MSFT.US) 286.110 285.950 -0.81% -0.06% Post Alphabet-C(GOOG.US) 105.900 106.200 +0.84% +0.28% Post Alphabet-A(GOOGL.US) 105.290 105.510 +1.07% +0.21% Post By Miles Kruppa Alphabet Inc.'s Google merged its two main artificial-intelligence research units, a major reshuffling as tech companies jockey for leadership in an area quickly reshaping business. Google said the new unit, Google DeepMind, would combine the existing Google Brain and DeepMind research groups into one team. The unit will be led by Demis Hassabis, the co-founder and CEO of DeepMind, which Google purchased for about $500 million in 2014. Jeff Dean, the previous head of Google Research overseeing the Google Brain team, will move to a new role as Chief Scientist. Google said he would lead the company's "most criti

Tesla(TSLA.US) 162.990 163.090 -9.75% +0.06% Post Ford Motor(F.US) 11.870 11.900 -2.86% +0.25% Post General Motors(GM.US) 33.540 33.670 -3.01% +0.39% Post Al Root Tesla's results, and what CEO Elon Musk had to say about them, have raised concerns about the state of the economy, dragging down stocks across the auto industry. $Tesla(TSLA.US)$ first-quarter gross profit margins, reported Wednesday evening, disappointed investors, coming in below 20%. Musk mentioned high interest rates, vehicle affordability, or the economy about 10 times on the company's earnings conference call. Tesla shares closed at $162.99, down 9.8%. The S&P 500 and Nasdaq Composite were 0.6% and 0.8% lower, respectively. It is the worst reaction to earnings for the stock since Jan. 27, 2022, when it fell 11.6%. Sh

Tesla(TSLA.US) 162.990 163.090 -9.75% +0.06% Post Meta Platforms(META.US) 213.070 213.460 -1.22% +0.18% Post By Emily Bary $Meta Platforms(META.US)$ is the seventh largest U.S. company at the close, Tesla ranks eighth after losing more than $55 billion in a single session Meta Platforms Inc.'s stock has been on a hot streak since the company first announced its cost-cutting plans last fall, and that helped it achieve a milestone Thursday that Mark Zuckerberg had not seen in more than a year. Meta (META) finished Thursday's session with a market value higher than Tesla Inc.'s (TSLA), the first such occurrence since Dec. 20, 2021, according to Dow Jones Market Data. Meta is now the seventh largest public U.S. company by market capitalization, with Tesla in the No. 8 spot. Both Meta, which

McDonald's(MCD.US) 291.000 290.970 -0.09% -0.01% Post By Heather Haddon Restaurant owners are pushing back on McDonald's Corp.'s moves to tighten franchise standards and rules, increasing tension between the burger giant and operators who run the bulk of its U.S. locations. Some franchisees are backing legislation that they say would give them more control over how they run their businesses and how they sell them, following moves by McDonald's in recent months to more strictly review its franchisees' operations. In Arkansas, Republican Gov. Sarah Huckabee Sanders on April 14 signed one such bill supported by McDonald's operators and other franchisees, despite opposition from the burger chain and dozens of other franchisers. McDonald's franchisees backed a similar measure in Arizona. Vie

Microsoft(MSFT.US) 286.110 285.950 -0.81% -0.06% Post Alphabet-C(GOOG.US) 105.900 106.200 +0.84% +0.28% Post Alphabet-A(GOOGL.US) 105.290 105.510 +1.07% +0.21% Post By Miles Kruppa $Alphabet-C(GOOG.US)$ merged its two main artificial-intelligence research units, a major reshuffling as tech companies jockey for leadership in an area quickly reshaping business. Google said the new unit, Google DeepMind, would combine the existing Google Brain and DeepMind research groups into one team. The unit will be led by Demis Hassabis, the co-founder and CEO of DeepMind, which Google purchased for about $500 million in 2014. Jeff Dean, the previous head of Google Research overseeing the Google Brain team, will move to a new role as Chief Scientist. Google said he would lead the company's "most critic

BHP Group Ltd(BHP.AU) 45.370 -1.50% BHP Group Ltd(BHP.US) 60.710 60.980 -3.24% +0.44% Post By Rhiannon Hoyle $BHP Group Ltd(BHP.AU)$ on Friday said it expects to produce less copper than expected at the Escondida mine in northern Chile this fiscal year, but retained its group copper-production estimate citing strong performance at other operations in Chile and Australia. The world's largest miner by market value cut its annual estimate for nickel production, however, due in part to heavy rainfall. BHP cut its production guidance for the Escondida copper operation in the year through June to 1.05 million to 1.08 million metric tons, from 1.08 million to 1.18 million previously. "Given the strong performance at the other copper assets, full-year total copper production guidance remains un

Woodside Energy(WDS.US) 22.430 22.250 -0.44% -0.80% Post By David Winning SYDNEY-- $Woodside Energy(WDS.US)$ said planned turnaround and maintenance activities drove a 9% drop in first-quarter production of oil and natural gas compared to the final three months of 2022. Woodside said it produced 46.8 million barrels of oil equivalent in the three months through March after carrying out a planned turnaround of its Ngujima-Yin floating production storage and offloading unit, along with other maintenance. Still, quarterly output was more than double levels of a year earlier due to the contribution of petroleum assets purchased from BHP Group Ltd. Woodside said its sales revenue totalled US$4.33 billion in the first quarter, down 16% on the final three months of 2022 as a result of weaker o

"Implied volatility is a measure of the market's expectation of the potential price movements of the stock in the future. Here are the stocks with the most notable Implied volatility today." Here are the notable stocks with the highest and lowest implied volatility. The $Bed Bath & Beyond Inc(BBBY.US)$, $Faraday Future Intelligent Electric Inc.(FFIE.US)$, and $Eos Energy(EOSE.US)$ has the highest implied volatility of all stocks with a market cap of over 10 million yesterday. Bed Bath & Beyond Inc. (BBBY) saw its share price surge by almost 35.28% yesterday following a 30% drop today, causing a surge in option volume to 623.39K. The stock's implied volatility (IV) also increased to a 1-year high of 424% and was at 398% at the time of the market close. The surge in BBBY's shar

Tesla's results, and what CEO Elon Musk had to say about them, have raised concerns about the state of the economy, dragging down stocks across the auto industry. $Tesla(TSLA.US)$ first-quarter gross profit margins, reported Wednesday evening, disappointed investors, coming in below 20%. Musk mentioned high interest rates, vehicle affordability, or the economy about 10 times on the company's earnings conference call. Tesla shares closed at $162.99, down 9.8%. The S&P 500 and Nasdaq Composite were 0.6% and 0.8% lower, respectively. It is the worst reaction to earnings for the stock since Jan. 27, 2022, when it fell 11.6%. Shares are now down for three consecutive days, dropping almost 13% over that span. "The recession scenario is on," wrote New Street Research analyst Pierre Ferragu

By Claudia Assis $Tesla(TSLA.US)$ Inc. stock dropped more than 5% in the extended session Wednesday after the electric-vehicle maker narrowly missed quarterly expectations for its revenue and saw adjusted profit margins drop as it cut its EV prices. Tesla (TSLA) earned $2.5 billion, or 73 cents a share, in the first quarter, compared with $3.3 billion, or 95 cents a share, in the year-ago period. Adjusted for one-time items, the company earned 85 cents a share. Revenue rose 24% to $23.3 billion. Ebitda profit margins dropped to 18.3%, from nearly 27% in the year-ago quarter, while operating margins dropped to 11%. "We are taking a view that we want to keep making as many cars as we can," Chief Executive Elon Musk said on a call with analysts after the results. "It's a good time to incr