Streetbeat News

Earnings

TSLA

Tesla Inc. (NASDAQ:TSLA) saw its stock price surge despite reporting disappointing Q1 results, attributed to the company's announcement of accelerating the launch of new models. The Q1 earnings missed Wall Street estimates with a 9% year-over-year revenue decline and a 13% drop in automotive revenue. However, the announcement of new, more affordable models and a next-generation platform has positively impacted investor sentiment, leading to a significant after-hours stock price increase.

Portfolio Pulse from Benzinga Neuro

April 24, 2024 | 2:13 am

ARKK

ARKQ

ARKW

STNE

TSLA

TWLO

TWOU

Cathie Wood's Ark Invest continues to buy Tesla Inc (TSLA) shares aggressively, purchasing $4.3M worth despite Tesla's Q1 earnings and revenue miss. The shares were bought across ARK Innovation ETF (ARKK), ARK Autonomous Technology & Robotics ETF (ARKQ), and ARK Next Generation Internet ETF (ARKW). Additionally, Ark Fintech Innovation ETF (ARKF) sold shares of StoneCo Ltd (STNE) and Twilio Inc (TWLO), while ARKK and ARKQ sold shares of 2U Inc (TWOU), with ARKW also reducing its holdings in Twilio and 2U Inc.

Portfolio Pulse from Benzinga Neuro

April 24, 2024 | 1:57 am

RUSHA

Rush Enterprises reported Q1 2024 GAAP EPS of $0.88, surpassing the $0.77 estimate, with sales of $1.872B meeting expectations. This represents a 17.76% decrease in earnings and a 2.09% decrease in sales from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 10:14 pm

RUSHB

Rush Enterprises reported Q1 2024 earnings of $0.88 per share, surpassing the $0.82 estimate, but its sales of $1.872B fell short of the $1.882B forecast, marking a 2.09% year-over-year decrease.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 10:06 pm

TSLA

Tesla CEO Elon Musk has expressed optimism about the company's sales, stating he believes Tesla will achieve higher sales this year compared to last year.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 10:04 pm

CLF

FCX

MTAL

Cleveland-Cliffs and Freeport-McMoRan reported strong Q1 2024 results, with Cleveland-Cliffs announcing a new $1.5 billion share buyback program and Freeport-McMoRan exceeding copper sales estimates. Worthington Steel was named GM Supplier of the Year for the third time, and Metals Acquisition Ltd announced significant growth in resources and mine life for the CSA Copper Mine.

Portfolio Pulse from austin@walkonholdings.com

April 23, 2024 | 10:03 pm

CSGP

CoStar Group's shares saw an increase following the announcement of their Q1 financial results, which surpassed expectations.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 9:56 pm

FFIC

Flushing Financial (NASDAQ:FFIC) reported Q1 2024 earnings of $0.14 per share, meeting consensus estimates but with a 133.33% increase from the previous year. However, their sales of $45.481M fell short of the $48.286M estimate, marking a 12.82% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 9:51 pm

FDX

UPS

United Parcel Service, Inc. (NYSE:UPS) reported a decline in Q1 earnings due to a shipping slump and high labor costs from a new union deal guaranteeing $170,000 salaries for delivery drivers. Despite this, shares rose 2.4% as profits exceeded expectations. UPS also secured a significant contract with the USPS, replacing FedEx Corp (NYSE:FDX) as the primary air cargo service provider, which is expected to support revenue despite ongoing volume declines.

Portfolio Pulse from Natan Ponieman

April 23, 2024 | 9:38 pm

TSLA

Tesla announced during a conference call that it anticipates the production of its new model to commence early 2025, with a possibility of it starting as soon as late this year.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 9:37 pm