Streetbeat News

Stock Prices

DIS

MCK

TSN

Despite a slight decline in investor optimism as indicated by the CNN Money Fear and Greed index, the Dow Jones recorded gains for the fourth consecutive day. U.S. job growth in April was below expectations, with 175,000 nonfarm payrolls added. Micron Technology shares surged 5% following an upgrade by Baird, while Tyson Foods shares dropped 5.7% due to disappointing Q2 revenue. The S&P 500 and Nasdaq also saw gains, with most sectors ending higher except for real estate. Upcoming earnings from McKesson, Electronic Arts, and Walt Disney are anticipated.

Portfolio Pulse from Avi Kapoor

May 07, 2024 | 7:50 am

CVGI

DIS

MCK

UBS

Wall Street anticipates earnings reports from Disney, Electronic Arts, and McKesson, with Disney and EA expected to release their quarterly earnings today. UBS Group reported better-than-expected Q1 results, while Commercial Vehicle Group posted disappointing Q1 earnings. Disney, UBS, and EA shares saw slight increases in after-hours trading, whereas Commercial Vehicle's shares dropped.

Portfolio Pulse from Avi Kapoor

May 07, 2024 | 7:48 am

AAPL

Apple, Inc. (NASDAQ:AAPL) is expected to focus on AI strategy following better-than-expected March quarter results, with a bullish outlook from Wedbush analyst Daniel Ives. Ives anticipates the iPhone 16, featuring new AI capabilities, to drive growth and potentially introduce a separate AI App Store. Apple's stock is rated 'Outperform' with a $250 price target by Wedbush.

Portfolio Pulse from Shanthi Rexaline

May 07, 2024 | 7:42 am

COST

PEP

TSLA

WMT

Tesla Inc.'s Semi trucks are gaining significant traction among S&P 500 companies, with a recent sighting of a Semi truck featuring the Costco Wholesale Corp. logo in California. This follows previous engagements with Walmart Inc. and PepsiCo Inc., who have also shown interest in Tesla's electric trucks. Tesla anticipates starting Semi deliveries in late 2025, with increased production expected at Gigafactory Nevada.

Portfolio Pulse from Ramakrishnan M

May 07, 2024 | 7:38 am

AAPL

Elon Musk's AI chatbot, Grok, has begun predicting future events, including summarizing an upcoming Apple Inc. event for launching new iPad products before it occurs. This feature is available to Premium subscribers on X (formerly Twitter), allowing them to read news summaries. The incident has sparked discussions online, with tech YouTuber Marques Brownlee (MKBHD) sharing a screenshot of Grok's prediction. This has led to jokes about Brownlee's potential critique of Grok, referencing his past reviews of tech products. Meanwhile, Apple is expected to launch new iPad models with M4 and M2 chips.

Portfolio Pulse from Ananya Gairola

May 07, 2024 | 7:26 am

BTCUSD

DOGEUSD

ETHUSD

HOOD

Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin experienced a decline after Robinhood received a Wells Notice from the SEC, indicating potential enforcement action. This news negatively impacted the sentiment in the cryptocurrency market, with Ethereum leading in liquidations. Despite the downturn in cryptocurrencies, U.S. stock markets traded higher, buoyed by a weaker-than-expected U.S. jobs report which fueled speculation of a potential interest rate cut by the Federal Reserve.

Portfolio Pulse from aniketverma@benzinga.com

May 07, 2024 | 7:10 am

UBS

UBS Group reported Q1 2024 GAAP EPS of $0.52, surpassing the $0.24 estimate, with sales of $12.739B exceeding the $12.017B forecast. This represents a 62.5% increase in earnings and a 45.69% increase in sales from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 6:53 am

BP reported Q1 2024 adjusted EPS of $0.97, missing the $0.98 estimate, and sales of $48.880 billion, missing the $55.076 billion estimate. This represents a 41.57% decrease in earnings and a significant decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 6:43 am

LCID

Lucid Group (NASDAQ:LCID) anticipates a sales decline in the next two quarters despite a nearly 40% increase in first-quarter deliveries to 1,967 vehicles. CEO Peter Rawlinson attributes the expected slowdown to seasonal factors, including vacations and a slowdown in Saudi Arabia, where over 25% of Lucid's sales occur. The Saudi Public Investment Fund (PIF), a major investor in Lucid, has contributed $6.4 billion since 2018 and agreed to purchase up to 100,000 vehicles over ten years. Despite a Q1 loss of $680.9 million, Lucid raised $1 billion from a PIF affiliate, boosting its liquidity to $5.03 billion. Lucid's stock saw a 9.5% increase before dropping 7.9% after hours.

Portfolio Pulse from Anan Ashraf

May 07, 2024 | 6:41 am

AAPL

RIVN

Apple, Inc. (AAPL) is rumored to be considering a partnership with Rivian Automotive, Inc. (RIVN) for electric vehicle development, following a report by Digitimes. This speculation arises despite Apple previously halting its self-driving car project, 'Project Titan', to focus on generative AI. Rivian, facing its own challenges with losses and production issues, is moving forward with its next-generation EVs on the R2 platform. Both companies have upcoming events, with Rivian reporting Q1 results and Apple hosting a hardware launch.

Portfolio Pulse from Shanthi Rexaline

May 07, 2024 | 6:35 am