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STLA

Stellantis reported a decrease in Q1 2024 net revenues to €41.7 billion, down 12% from Q1 2023, with consolidated shipments also falling by 10% to 1,335 thousand units. The decline was attributed to volume, mix, and foreign exchange headwinds, though partially offset by strong net pricing. Despite the downturn, sales of BEVs and LEVs rose by 8% and 13%, respectively. The company is preparing for a new product wave in H2 2024, with a total vehicle inventory of 1,393 thousand units as of March 31, 2024. Additionally, a dividend increase to €1.55 per share was approved, and a €3.0 billion share buyback program is on track for completion in 2024.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 6:34 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares surged over 15% after CEO Elon Musk secured a deal with the Chinese government for full self-driving (FSD) technology and data transfer. Jim Cramer praised the deal as a significant achievement, comparing it to historical business feats. The deal is expected to open a new revenue stream for Tesla, potentially reversing the recent price momentum downturn due to competition and demand issues in China. Short sellers faced significant losses due to the stock's rally.

Portfolio Pulse from Shanthi Rexaline

April 30, 2024 | 6:23 am

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MCD

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YUMC

U.S. stock futures are trading lower, with investor focus on earnings reports from Coca-Cola, Yum China Holdings, McDonald's, Sensata Technologies, and Amazon. Coca-Cola is expected to report earnings of 65 cents per share, Yum China posted mixed results, McDonald's is anticipated to report earnings of $2.54 per share, Sensata reported strong results and announced CEO retirement, and Amazon is expected to report earnings of 77 cents per share.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 6:13 am

AAPL

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MCD

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SBUX

TSLA

U.S. stocks rose on Monday, led by a 15% jump in Tesla shares on news of a partnership with Baidu for Full Self-Driving in China. Apple shares also increased by 2.5% following an upgrade by Bernstein. ON Semiconductor reported better-than-expected Q1 results. The Dow Jones gained 146 points, while the S&P 500 and Nasdaq also saw increases. Investors are awaiting earnings from Amazon, McDonald's, Starbucks, and Coca-Cola. The CNN Money Fear and Greed index indicated improved market sentiment but remained in the 'Fear' zone.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 6:13 am

PARA

CNBC's 'Last Call' host Brian Sullivan humorously compared Paramount Global's (NASDAQ:PARA) recent earnings call to Led Zeppelin's 'Stairway to Heaven' due to their similar lengths, noting the call's brevity and the significant announcement of CEO Bob Bakish's departure amid merger talks with Skydance Media. The call, lasting 8 minutes and 48 seconds, also covered Paramount's Q1 earnings, where they missed revenue estimates but beat earnings expectations. The company is in advanced negotiations to buy out controlling shareholder Shari Redstone, coinciding with the planned exit of four directors.

Portfolio Pulse from Benzinga Neuro

April 30, 2024 | 5:56 am

LOGI

Logitech International (NASDAQ:LOGI) reported Q4 2024 adjusted EPS of $0.99, surpassing the $0.63 estimate, a 57.14% beat. Quarterly sales reached $1.011B, exceeding the $956.082M forecast by 5.74%, marking a 5.30% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 5:55 am

AAPL

Jim Cramer expressed skepticism about the sustainability of Apple Inc.'s recent stock rally, which followed an upgrade by Bernstein's analyst Toni Sacconaghi from neutral to buy. Cramer advised investors to wait, especially with Apple's earnings report due soon, despite the stock's 2.48% increase on Monday. Sacconaghi's upgrade was based on the potential for a robust iPhone 16 cycle and a temporary downturn in China, but Cramer questioned the timing due to Sacconaghi's historical skepticism of Apple. Apple's stock has faced challenges, including a 12% decline in 2024 and slowing iPhone sales, particularly in China.

Portfolio Pulse from Benzinga Neuro

April 30, 2024 | 5:42 am

MSTR

MicroStrategy Inc. (NASDAQ:MSTR) is considering increasing its leveraged bets on Bitcoin, with its CEO Phong Le highlighting the potential for greater value generation from its Bitcoin holdings if the cryptocurrency's price rises. The company, which already holds over 214,400 Bitcoins worth $14 billion, has been raising capital through debt and stock offerings to purchase more Bitcoin. Despite a 5.51% decrease in sales year-over-year in its first-quarter financial results, MicroStrategy's strategy has been to leverage its corporate structure and access to capital markets to expand its Bitcoin investments, even as this approach has drawn criticism for its risk exposure.

Portfolio Pulse from Kaustubh Bagalkote

April 30, 2024 | 5:14 am

MCD

McDonald's Corporation (NYSE:MCD) is anticipated to report higher Q1 earnings with an expected EPS of $2.72, up from $2.63 year-over-year, and revenue of $6.16 billion, up from $5.9 billion. The company plans to repurchase all its franchises in Israel amid Middle East tensions. Shares rose 0.2% to $273.55 recently. Analysts have adjusted their price targets and ratings, with changes reflecting a mix of maintained ratings and reduced price targets.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 5:06 am

FXI

China's Non-Manufacturing Purchasing Managers Index (PMI) for April was reported at 51.2, lower than the estimated 52.3 and the previous month's 53.0, indicating a slowdown in the non-manufacturing sector.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 4:41 am