Two More Magnificent Earnings | Wall Street Today Indexes fell Thursday and were dragged down by big tech. $Meta Platforms(META.US)$ fell 10% after its updated revenue outlook for the year did not match expectations. With preliminary closing numbers, the $S&P 500(.SPX)$ fell about 0.46%. The $DJIA(.DJI)$ fell about 0.98%, and the $NASDAQ(.IXIC)$ fell about 0.64%. In macro, GDP numbers for the first quarter came out low, at 1.6% growth compared to expectations of 2.5%. In the world of inflation fighting, a lower growth rate means
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Everything You Need to Know About Meta's Latest Earnings Report On April 24, Meta reported its earnings result for the first quarter of FY24. It reported Q1 2024 revenues of $36.46 billion, beating the $36.14 billion estimate and marking a 27% year-over-year increase. EPS was $4.71, above the expected $4.32. Disappointing Q2 Outlook Triggers Meta Stock Plunge The primary factor troubling investors is the profit squeeze resulting from reduction in sales and increase in expenses. This directly affects the market's assessment of the company's short-term earnings trend, inevitably recalling the nightmare from two years ago. On one hand, Meta's revenue guidance fell short of expectations. $Meta Platforms, Inc.(META)$
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Everything You Need to Know About Tesla's Latest Earnings Report $Tesla Motors(TSLA)$ 's stock surged more than 12% in after-hours trading following its first-quarter earnings report, despite the company's earnings-per-share falling below analysts' expectations. The electric-car maker did, however, surpass gross margin estimates and announced plans to fast-track production of new, more affordable vehicle models. The stock had previously risen 1.8% in Tuesday's trading but has been underperforming in 2024, with a 42% drop year-to-date. CEO Elon Musk also discussed the upcoming release of Tesla's Robotaxi and the push towards producing a cheaper range of electric vehicles, which likely contributed to the p
Options Market Statistics: Meta Options Pop, Shares Plunge on Weak Revenue Guidance $Tesla Motors(TSLA)$ shares rose by 12.06%, closing at $162.13. Its options trading volume was 4.03 million. Call contracts account for 46.1% of the total trading volume. The most traded calls are contracts of $165 strike price that expire on Apr. 26th. The total volume reaches 196,809 with an open interest of 36,733. The most traded puts are contracts of a $160 strike price that expires on Apr. 26th; the volume is 229,042 contracts with an open interest of 13,983. Tesla shares jumped around 12% after the EV maker's vow to speed up the launch of more affordable models eclipsed its quarterly earnings and revenue miss. That
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Tesla's Earnings: Elon Musk's Future and Other Takeaways $Tesla Motors(TSLA)$ spent much of its earnings call Tuesday shifting attention away from its rough first-quarter results by highlighting the carmakers efforts in other technologiesparticularly self-driving cars. Here are five things that stood out from the electric-vehicle makers quarterly update. Coming Soon: A Lower-Priced Car Musk said Tesla was accelerating the launch of new models, including vehicles that would sell at more affordable prices. News of a possible lower-priced car helped lift the companys stock price by 13% in after-hours trading. The company declined to share details about the new models Tesla has in the works, including how m
First Mag Seven Posts Missed Q1 Results, Rosy Outlook Indexes held onto the green Tuesday with a deluge of Q1 earnings finally underway that sent markets into rebound territory. Tesla missed earnings expectations, but still gained after hours. The $S&P 500(.SPX)$ traded +1.20% at the time of writing on preliminary closing numbers. The $DJIA(.DJI)$ climbed about 0.69%, and the $NASDAQ(.IXIC)$ climbed 1.59%. Last week, market indexes pulled back hard. The S&P 500 and Nasdaq are still lower by about -0.22% and -1.67%
Options Market Statistics: Tesla Stock Jumps on Accelerated Production Plans Despite Earnings Miss $Tesla Motors(TSLA)$ shares rose by 1.85%, closing at $144.68. Its options trading volume was 1.75 million. Call contracts account for 44.8% of the total trading volume. The most traded calls are contracts of $160 strike price that expire on Apr. 26th. The total volume reaches 48,736 with an open interest of 28,774. The most traded puts are contracts of a $140 strike price that expires on Apr. 26th; the volume is 53,232 contracts with an open interest of 25,881. Tesla shares jumped in after-hours trading Tuesday despite an earnings miss, as the electric vehicle maker said it would accelerate production of n
Earnings Preview: Analyst Downgrades and Lowers Q1 Profit Forecast for Tesla Ahead of Earnings Report Tesla is scheduled to release its financial results post-market on April 23. Faced with falling sales and an intensifying price war for electric vehicles, Tesla has lost nearly 40% of its value in 2024. Consensus Estimates • This electric car maker is expected to post quarterly earnings of $0.44 per share in its upcoming report, which represents a year-over-year change of -39.48%. • Revenues are expected to be $22.52 billion, down 3.46% from the year-ago quarter. • Free cash flow is expected to be negative for the first quarter, marking the first occurrence since Q1 2020, according to Barclays. • Over the last four quarters, the company has beaten consensus EPS estimates two times. Tes