Company News for Apr 16, 2024

Zacks Equity Research

16 April 2024 at 9:29 am·1-min read

Shares of Tesla, Inc. TSLA plunged 5.6% following a leaked report that the company was going to lay off more than 10% of its global workforce.
The Goldman Sachs Group, Inc.’s GS shares gained 2.9% after reporting first-quarter 2024 earnings of $11.58 per share, beating the Zacks Consensus Estimate of $8.54.
The Charles Schwab Corporation’s SCHW shares rose 1.7% after reporting first-quarter 2024 revenues of $4.74 billion, beating the Zacks Consensus Estimate of $4.71 billion.
Shares of Salesforce, Inc. CRM sank 7.3% on reports that it was going to acquire Informatica Inc. INFA.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

The Goldman Sachs Group, Inc. (GS) : Free Stock Analysis Report

Salesforce Inc. (CRM) : Free Stock Analysis Report

The Charles Schwab Corporation (SCHW) : Free Stock Analysis Report

Informatica Inc. (INFA) : Free Stock Analysis Report

Tesla, Inc. (TSLA) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

INSIDER
Russia's war-driven economy is so hot that the World Bank upgraded it to a 'high-income country'
Russia's trade rebounded by nearly 7% last year, while activities in the financial sector and construction grew by 6.6% and 3.6% respectively.
Bloomberg
6 family office funds tied to Singapore launder case got tax breaks
Six single family office funds linked to a S$3 billion money laundering case in Singapore have received tax incentives from the Monetary Authority of Singapore.
Zacks
Best Momentum Stocks to Buy for July 2nd
BYRN, CMRE and TREE made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on July 2, 2024.
Yahoo Finance
Fed officials touted 'modest further progress' on inflation at last meeting: Minutes
Fed officials offered encouragement about the path of inflation while meeting in June, but they made it clear they didn’t expect to lower rates until they saw more evidence of a downward trend.
Malay Mail
A-G’s report: Mara Inc’s inefficient operations lead to RM286m loss
KUALA LUMPUR, July 4 — Government-linked Mara Inc has incurred RM286.30 million in losses due to inefficient business op...
Variety
Paramount Stock Rises on New Skydance Merger Offer
UPDATED: Shares of Paramount Global sprang to life ahead of the July 4 holiday on a renewed agreement between Skydance Media and controlling shareholder Shari Redstone that would merge Skydance and Paramount. On Wednesday (July 3), Paramount’s stock opened up 13% to over $12/share, its highest levels in nearly a month. However, the price drifted …
Zacks
AGNC Investment Trading Above 50-Day SMA: Good Time to Buy?
Attractive dividend yield is a positive for AGNC Investment (AGNC), but recent interest rate volatility might impact its financials.
Zacks
On Semiconductor (ON) Expands Portfolio With SWIR Acquisition
On Semiconductor (ON) introduces enhanced SWIR imaging capabilities through the acquisition of SWIR Vision Systems, transforming industrial and automotive sensing capabilities.
Yahoo Finance
Powell encouraged by cooler inflation data: 'We are getting back on a disinflationary path'
Federal Reserve Chair Jay Powell said Tuesday that he is encouraged by cooler inflation readings but reinforced that the central bank will need to see more evidence before cutting interest rates.
Zacks
Super Micro Computer (SMCI) Up 194.5% YTD: Is it Worth Buying?
Super Micro Computer (SMCI) is making strides in the AI infrastructure market, which makes the stock worth a watch.
Zacks
Market Break Out: 3 Leading Stocks to Buy Now
The stock market continues to charge higher led by the best companies in the world - Apple, Amazon and Alphabet
Zacks
Will Best Buy (BBY) Tech Endeavors Help Navigate Challenges?
Best Buy (BBY) is focusing on technology and customer experience for future growth. AI collaborations and strategic investments in store formats enhance customer service and operational efficiency.
CoinDesk
Bitcoin Sinks Under $61K as One Trader Sticks to $150K Prediction This Year
U.S.-listed ETFs ended a five-day inflow streak with $13 million in net outflows on Tuesday.
Associated Press
Japan's Nikkei 225 index hits a record high close of 40,913.65
Japan’s Nikkei 225 stock index closed Thursday at a fresh record high of 40,913.65, pushing past its most recent record close set in March on heavy buying of automaker and technology shares. The index's all-time high during intraday trading is 41,087.75, set on March 22. The gains tracked an overnight rally on Wall Street, where the S&P 500 and tech-heavy Nasdaq also hit fresh records.
Bloomberg
Singapore’s DBS boosts digital-asset push with first stablecoin tie-up
Singapore’s largest bank DBS Group Holdings Ltd. will for the first time custody stablecoin reserves and offer related cash management services, in a tie-up with the local unit of cryptocurrency issuer Paxos Trust Co.
Reuters
Canada posts third straight monthly trade deficit in May
OTTAWA (Reuters) -Canada recorded a bigger-than-expected trade deficit of C$1.93 billion ($1.41 billion) in May, the third consecutive monthly shortfall, as exports declined faster than imports, data showed on Wednesday. Total exports fell 2.6% to C$62.45 billion, the lowest level in 10 months, while imports decreased by 1.6% to C$64.37 billion, Statistics Canada said, in what was seen as a broad-based decline in both exports and imports. Analysts polled by Reuters had forecast a C$1.20 billion trade deficit for the month.
Zacks
4 Steady Shoes & Retail Apparel Stocks in a Troubled Industry
Elevated costs due to commodity cost inflation and continued reinvestments have been hurting the Shoes and Retail Apparel industry. However, product innovation, robust demand trends and digital investments should aid companies like ADDYY, SKX, CAL and WWW.
AFP News
Markets extend gains, dollar dips as US data fans rate cut hopes
Equities rose and the dollar slipped further on Thursday as investors welcomed more data pointing to a softening labour market that gives the Federal Reserve room to cut interest rates, with another key jobs report due.Adding to the feel-good factor were comments this week from Fed chief Jerome Powell, who said the battle against inflation had made "progress" and "substantial" work had been done on softening the labour market.
Yahoo Finance
Investors have found peace in another Trump presidency
Markets appear to be taking presidential election theatrics in stride ... for now.
Zacks
U.S. EV Battery Plants to Spark a New Era in E-Mobility
Read on to know about the battery production investments currently underway in the United States by major automakers including TSLA, GM, F, TM and STLA.

Latest stories