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DAL

Delta Air Lines' stock price increased following the announcement of their Q1 earnings, which surpassed expectations.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 10:43 am

PSMT

QQQ

SPY

US stock futures are positive ahead of March inflation data, with expectations of a tame reading potentially pushing the S&P 500 to retest highs. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) showed slight premarket movements. Analysts anticipate the CPI report to act as a catalyst for market direction. Boeing Co. (BA) and PriceSmart, Inc. (PSMT) are also in focus, with PSMT rising post-earnings. Upcoming economic data and Fed speeches are expected to influence market sentiment.

Portfolio Pulse from Shanthi Rexaline

April 10, 2024 | 10:41 am

DAL

Delta Air Lines reported Q1 adjusted earnings of $0.45 per share, surpassing the $0.36 estimate, and sales of $13.75B, exceeding the $12.57B estimate. This represents a 25% earnings beat and a 9.39% sales beat, with year-over-year earnings and sales growth of 80% and 7.75%, respectively.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 10:31 am

PSCC

PSL

WDFC

WD-40 Company (NASDAQ:WDFC) reported a mixed Q2 FY24 with a slight revenue miss at $139.1 million against a consensus of $140.5 million but saw a 7% Y/Y growth across all trade blocs. The company's EPS of $1.14 beat estimates of $1.11, and it announced a dividend of $0.88 per share. WD-40 also bought back shares worth $5.3 million and is focusing on its core products by selling its U.S. and U.K. Homecare and Cleaning Products portfolio. The FY24 EPS outlook was raised to $5.00-$5.30. WDFC shares dropped 1.51% to close at $255.11.

Portfolio Pulse from Lekha Gupta

April 10, 2024 | 10:22 am

TSLA

A top-end Tesla Cybertruck, the tri-motor all-wheel-drive variant, sold for $262,500 at a Sotheby's auction, over double its listed price of $99,900. The auction, which started at $78,000, concluded with 108 bids. This sale could temporarily alleviate concerns about the Cybertruck's resale value amid criticisms over quality issues and production delays. Tesla's CEO Elon Musk has addressed some of these concerns, stating they are fixable.

Portfolio Pulse from Shanthi Rexaline

April 10, 2024 | 9:58 am

AAPL

GOOG

GOOGL

MSFT

The EU's Digital Markets Act, effective from March 7, has led to a significant increase in user numbers for independent browser companies, challenging the dominance of Apple, Microsoft, and Google. This legislation requires major tech companies to offer a choice of web browsers to mobile users, resulting in growth for browsers like Aloha, Vivaldi, Ecosia, Brave, DuckDuckGo, and Opera. Apple, Microsoft, and Google have complied with the new regulations, which aim to eliminate unfair competition and make it easier for users to switch to rival services.

Portfolio Pulse from Rounak Jain

April 10, 2024 | 9:58 am

DCGO

FAAS

HCAT

JWN

NNDM

NOVA

SGH

SMART Global Holdings Inc. (SGH) reported Q2 results, with earnings of 30 cents per share and an expected Q3 revenue of $300 million, missing estimates. Shares fell 7.4% in pre-market trading. Other stocks like DocGo Inc. (DCGO), DigiAsia Corp. (FAAS), Health Catalyst, Inc. (HCAT), Nano Dimension Ltd. (NNDM), Sunnova Energy International Inc. (NOVA), and Nordstrom, Inc. (JWN) also recorded losses in pre-market trading.

Portfolio Pulse from Avi Kapoor

April 10, 2024 | 9:57 am

XPEV

XPeng Inc (NYSE:XPEV), a Chinese EV maker, is experiencing stock gains due to its expansion in Hong Kong through a dealer partnership with Sime Darby Motors. This move is part of XPeng's global expansion strategy, leveraging Hong Kong's international business hub status. The company plans to introduce its latest EV models, including the G6 and X9, in mid-May with deliveries starting in Q3. Additionally, XPeng is expanding into Macau with XIN KANG HENG HOLDING LTD, planning to offer multiple models. As of the end of 2023, XPeng's cumulative delivery volume exceeded 400,000, with over 140,000 vehicles delivered in 2023. In March 2024, XPeng reported a 99% increase in Smart EV deliveries over the previous month and a 29% year-over-year increase. XPEV shares rose 3.35% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

April 10, 2024 | 9:55 am

ARCH

BMO Capital analyst Katja Jancic downgraded Arch Resources (NYSE:ARCH) from Outperform to Market Perform and reduced the price target from $180 to $165. This adjustment reflects a more cautious outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 9:38 am

NVDA

Nvidia Corp. (NASDAQ:NVDA) has entered a correction phase, experiencing an 11.22% pullback from its recent high. Gene Munster from Deepwater Asset Management highlighted the market's anticipation of Nvidia's potential in AI, despite not purchasing shares at the moment. Munster believes AI's transformative power will support Nvidia's growth over the next few years, even as the stock faces short-term volatility around earnings reports and inflation data.

Portfolio Pulse from Shanthi Rexaline

April 10, 2024 | 9:33 am