Crude Oil Moves Higher; General Motors Earnings Top Views
U.S. stocks traded higher toward the end of trading, with the S&P 500 gaining more than 1% on…
Stocks Rally On Weaker PMI Data, Tech Earnings Optimism, Dollar Falls: What’s Driving Markets Tuesday?
Stocks surged as weak economic data raised hopes for Fed rate cut. S&P 500 up 1.2%, Nasdaq 100 up 1.5%, Dow Jones up 0.6%. Spotify shares jump 17% on earnings.
General Motors’ Financials Rise Despite Headwinds
On Tuesday, General Motors (NYSE: GM) did a lot better than expected during the first three months of 2024. The Detroit automaker also lifted its 2024 guidance fueled by strong truck sales in North America.
Hedges Are Profitable, Semiconductors Stabilizing After 17% Drop
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Ford Enjoys Bullish Momentum But Faces Buying Pressure Ahead Of Q1 Earnings
Ford shares haven't gained much over the past year, being up just 7.46%. So far this year too, the stock is up just 7.2%.
General Motors Q1 Earnings Surprise: North America Growth, Rising Profit Margin And Annual Guidance Boost
General Motors reported Q1 sales growth of 7.6% to $43.01B, beating estimates. Adjusted EPS of $2.62 also beat expectations. GM's North American operations drove the beat and raised guidance. Stock up 5.05% in premarket at $45.39.
Ford Stock Is Trading Higher Tuesday: What’s Going On?
Ford shares are trading higher Tuesday after General Motors raised its outlook for 2024. GM raised its adjusted earnings guidance from a range of $8.50 to $9.50 per share to a new range of $9 to $10 per share, versus estimates of $9.08 per share. GM also raised its adjusted automotive free cash flow guidance from a range of $8 billion to $10 billion to a new range of $8.5 billion to $10.5 billion.
Earnings Scheduled For April 23, 2024
Companies Reporting Before The Bell
• RTX (NYSE:RTX) is expected to report quarterly earnings at $1.23 per share on revenue of $18.41 billion.
Wall Street Set To Open Higher As Tesla To Kick Off ‘Magnificent 7’ Earnings: Why This Analyst Thinks Market Weakness Is A ‘Healthy Pullback’
The mood on Wall Street turned tentative on Tuesday as investors awaited earnings reports from the “Magnificent 7,” companies that fueled much of the market’s upside since 2023. Index futures rose slightly in early trading. Asian markets closed mostly higher, while European markets started on a firmer footing. Commodities pulled back, and bond yields held steady.
Automotive Seating Maker Adient To Slash Jobs In Europe
Adient has put forward restructuring plans in Europe to reduce operating, administrative and engineering costs. The plan primarily consists of workforce reductions and the transfer of work to countries with lower labor costs.