Streetbeat News

Stock Prices

BYDDY

TM

TSLA

Tesla Inc. (NASDAQ:TSLA) has reportedly halted its gigacasting manufacturing process, a move aimed at cutting costs amid declining sales and increasing competition, particularly from BYD Co. (OTC:BYDDY) (OTC:BYDDF) and traditional automakers like Toyota Motor Corp (NYSE:TM). This decision marks a strategic shift for Tesla, which had previously aimed to innovate car manufacturing by casting large sections of the vehicle's underbody in one piece. Despite this pause, Tesla plans to focus on producing more affordable cars using existing platforms and has not completely abandoned the small-vehicle platform intended for the so-called Model 2, now pivoting towards developing a self-driving robotaxi.

Portfolio Pulse from Benzinga Neuro

May 02, 2024 | 5:42 am

MT

ArcelorMittal (NYSE:MT) reported Q1 2024 adjusted EPS of $1.16, surpassing the $0.92 estimate, with sales of $16.282B also beating the $16.238B estimate. However, this represents a decrease from the previous year's earnings and sales.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 5:17 am

COP

ConocoPhillips (NYSE:COP) is anticipated to report lower earnings for Q1 2024, with analysts forecasting a decrease in both earnings per share and revenue compared to the previous year. The company's Q4 revenue missed expectations, while adjusted EPS exceeded forecasts. Recent analyst ratings have varied, with price targets adjusted accordingly.

Portfolio Pulse from Avi Kapoor

May 02, 2024 | 4:05 am

CRK

Comstock Resources (NYSE:CRK) reported Q1 adjusted losses of $(0.03) per share, beating estimates by 25% but showing a 109.09% decrease from last year's earnings. Sales were $335.77M, missing estimates by 7.49% and marking a 31.42% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 3:59 am

NWPX

Northwest Pipe (NASDAQ:NWPX) reported Q1 earnings of $0.52 per share, surpassing the $0.31 estimate, a 126.09% increase from last year. Sales reached $113.22M, beating the $103.34M estimate, up 14.25% from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 3:55 am

ENSV

Enservco Corporation (NYSE:ENSV) announced board changes and a corporate update, including the appointment of Marc Kramer to its Board of Directors, following Steve Weyel's resignation. Kramer brings extensive experience in transportation and logistics, aligning with Enservco's strategic shift towards logistics through the Buckshot Acquisition. The company is exploring strategic initiatives to reduce reliance on its seasonal frac heating business, aiming for a transformation into a year-round logistics business with strong cash flow. Shareholder approval of related proposals is pending.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 3:52 am

BTCUSD

Ray Dalio supports Larry Summers' view that the Federal Reserve is in a precarious position regarding potential rate cuts amidst inflation concerns. Summers points to rising Employment Cost Index and housing price inflation as indicators that inflation targets are not being met, suggesting the Fed should be cautious about easing monetary policies. The Fed's decision to maintain interest rates aims to allow more time for current policies to achieve a 2% inflation goal, amidst market volatility and criticism from economists like Peter Schiff.

Portfolio Pulse from Benzinga Neuro

May 02, 2024 | 3:42 am

DOGE-USD

Crypto analyst Ali Martinez predicts a potential bull run for Dogecoin (DOGE), despite its current 47% price correction, viewing it as typical behavior before a bull run. Dogecoin has seen a 15.65% drop over the last seven days and a 32.9% fall over the last 30 days. Martinez's analysis suggests that Dogecoin's current price action mirrors its past cycles, indicating a possible upcoming bull run.

Portfolio Pulse from Benzinga Neuro

May 02, 2024 | 3:31 am

CVNA

ENVX

NIO

PFE

TSLA

Carvana, Enovix, Pfizer, Nio, and Tesla were among the top stocks on investors' radars, with mixed performances in major U.S. indices. Carvana reported strong Q1 earnings, Enovix saw a significant sales increase, Pfizer beat EPS estimates, Nio reported a surge in vehicle deliveries, and Tesla's stock fell despite potential advancements in self-driving technology in China.

Portfolio Pulse from Benzinga Neuro

May 02, 2024 | 2:52 am

BTCUSD

Mohamed El-Erian highlighted the volatility of the market in April, noting Bitcoin as the top performer among major asset classes despite challenging conditions. He pointed out the significant repricing of Fed cuts due to disappointing inflation data. Bitcoin's resilience is underscored by its 39.09% year-to-date performance as of April 30, amidst market fluctuations and the Federal Reserve's decision to keep interest rates steady to combat inflation.

Portfolio Pulse from Kaustubh Bagalkote

May 02, 2024 | 2:38 am