🌎️ Market Green For Earth Day, And No One Cares Tesla Missed
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NEWS
🌎️ Market Green For Earth Day, And No One Cares Tesla Missed
Source: tenor
The market climbed on Earth Day in the lead up to Tesla’s earnings miss, hearing positive news from Treasury Secretary Scott Bessent that China tariffs would have to come down soon. In the after-market earnings call, Tesla Chief Elon Musk said he expects to sell self-driving cars in Austin in June, turn a profit on the venture before the end of next year, and build 1 million robots a year by the ‘30s.
President Trump said he had “no intention” of firing Fed Chair Jerome Powell. Gold hit fresh highs again, and Bitcoin broke back through $90k with the swearing in of a pro-crypto SEC head.
Today’s issue covers Tesla’s miss despite Musk’s dreams, Gold and Bitcoin won’t quit, and more. 📰
Here’s the S&P 500 heatmap. All sectors closed green, with consumer discretionary (+5.71%) leading and real estate (0.81%) lagging.
Source: finviz
And here are the closing prices:
|
S&P 500 |
5,288 |
+2.51% |
|
Nasdaq |
16,300 |
+2.71% |
|
Russell 2000 |
1,890 |
+2.71% |
|
Dow Jones |
39,187 |
+2.66% |
STOCKS
Does Anyone Care About Tesla Earnings Anymore 😿
Tesla reported Q1 EPS of $0.12 on revenue of $19.34B, way below estimates. The stock was up nearly 5% in the lead-up to the results, and climbed a further 3% after Musk started speaking on the earnings call. The firm said tariffs will hurt its energy business, and it will likely change its 2025 guidance in the second quarter. The firm said its profit fell 71% in Q1. 💣️
On the call, Musk said he expects to sell fully autonomous rides in June in Austin and expects to become profitable on self-driving in the second half of next year.
“Lift your eyes to the citadel on the hill,” Musk said. “Starting next month, my time allocation to DOGE will drop significantly.”
Musk said that after May, he will continue to spend a day or two a week on government projects. He believes Tesla will be the most valuable company in the world by far, worth more than the next five firms combined. With Tuesday’s closing valuations, that puts Tesla at a target of nearly $12T in an unknown timeframe.
He said by 2030, Tesla will build one million Optimus robots a year. 🤖
Meanwhile, Tesla became the most profitable stock short in the world, according to S3 Partners.
Analysts were looking for earnings per share of $0.34, or $0.44 adjusted from $0.45 a year earlier, and a revenue increase to $21.43 billion, according to Bloomberg. The firm also missed adjusted forecasts, posting $0.27/share, or 30% lower.
Long-term Tesla investor Ross Gerber, Gerber Kawalkski Wealth Management Co-Founder, told Bloomberg that investors need to ask themselves when they can see the Tesla AI self-driving car future actually come to pass.
“Right now, the firm is a little above break even,” He said. He wants Tesla Chief Musk to Get off his “butt” and go back to work at Tesla, and start selling the software the firm has prioritized as the future, because it is not making money selling cars.
Even state treasuries, the managers of huge pension funds, wrote a letter to Tesla today in anger over the firm’s mismanagement.
Source: Bloomberg
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COMPANY NEWS
Top Strategy? Buy Gold And Digital Gold 🥇
It seems like all that glitters in today’s market is gold, hitting all-time high after all-time high. The ‘sell America’ trend has a clear winner, and right behind the commodity is Bitcoin, climbing this week in a decoupling from tech stocks like it wants to reclaim its digital gold tagline again.
Gold is up 28% this year and keeps climbing as warning signs point to an economic slowdown. The International Monetary Fund slashed its 2025 growth forecast Tuesday, raising the risk of a recession in the U.S. to 40%.
At the closed-door JPMorgan conference, Treasury Secretary Scott Bessent was heard saying Tuesday that the tariffs with China basically amount to an unsustainable embargo on all trade between the two superpowers, and that both sides would have to give in and make some changes soon. 😁
The White House denied the quote and said the U.S. is doing “very well” toward a trade deal with China.
According to Bloomberg Intelligence, Bitcoin has trended lower on a 10-day volatility chart than the S&P 500 and Nasdaq. The coin climbed back over $90k on Tuesday, giving some credence to the Stocktwits poll sentiment that the coin was headed toward $100k before $70k.
Source: Stocktwits
Public companies that buy Bitcoin maintain their price resilience while their index peers fall. $MSTR, Michael Saylors’ Strategy was last seen up 10% today, and 21% this week, with nearly 540,000 total Bitcoins in its treasury.
Today, Trump held an Oval Office ceremony to swear in a new pro-crypto SEC chair, Paul S. Atkins, and said crypto needs regulatory clarity asap. Atkins, former chair of the Token Alliance lobbying group, is one of the positives that the Bitcoin market is excited about. The only thing that may halt gold and crypto rallies is stocks returning to growth mode.
In answer to media questions, Trump said China had to cut a deal, and tariffs would drop substantially if they did. The president also said he was not considering firing Fed Chair Jerome Powell:
“I would like to see him a little more active. This is a perfect time to lower interest rates. If he doesn’t, is it the end? No, but it’s a good time too. I have no intention of firing him.” Trump said. 😘
STOCKS
Other Noteworthy Pops & Drops 📋️
GE Aerospace ($GE +6%): Shares of the General Electric aerospace firm rose 6% after reaffirming its 2025 financial outlook and posting stronger-than-expected Q1 results. Adjusted EPS of $1.49 beat the $1.27 estimate, while revenue increased 10.9% YoY to $9.94 billion, surpassing the $9.04 billion forecast.
3M Co. ($MMM +8%): Consumer tech firm 3M climbed 8% after earnings and revenue exceeded Wall Street expectations. EPS came in at $1.88, surpassing the $1.77 estimate, marking the fifth consecutive EPS beat. Revenue reached $6 billion, beating the forecast of $5.73 billion.
Boeing Co. ($BA): Boeing climbed 2% after the firm announced a definitive agreement to sell parts of its digital aviation business, including the Jeppesen unit, to private equity firm Thoma Bravo for $10.55 billion. Boeing reports tomorrow.
Halliburton ($HAL -6%): Shares of conglomerate Halliburton fell 6% following a 7% YoY revenue decline to $5.42 billion, though it exceeded the Street estimate of $5.28 billion. Net income fell over 66% YoY to $204 million, impacted by a $356 million charge related to severance costs, asset impairments, and other items.
Northrop Grumman ($NOC -13%): Shares of missile maker Northrop fell after the company lowered its full-year guidance and reported disappointing Q1 results. Sales declined 6.5% YoY to $9.47 billion, missing the $9.95 billion estimate, while EPS of $6.06 fell short of the $6.26 forecast.
First Solar ($FSLR +11%): The U.S. imposed duties as high as 3,521% on solar equipment from four Southeast Asian nations, citing unfair pricing and subsidies. While domestic manufacturers like First Solar celebrated the decision, clean energy developers warned of increased costs and potential project delays.
Lockheed Martin Corp ($LMT +1%): First-quarter earnings for ordinance maker Lockheed Martin exceeded analyst expectations. CEO Jim Taiclet highlighted continued momentum and investments in research, development, and shareholder returns.
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WHAT’S ON DECK
Tomorrow’s Top Things 📋
Economic data: Indonesia Rate Decision (3:30 am), Fed Beth Speech (9 am), Fed Goolsbee Speech (9 am), S&P Global Composite PMI (9:45 am), New Home Sales (10 am), EIA Energy Inventories (10:30 am). 📊
Pre-Market Earnings: Boeing ($BA), AT&T ($T), NextEra Energy ($NEE), Philip Morris ($PM), Vertiv Holdings ($VRT), General Dynamics ($GD), New Oriental Education $EDU), Thermo Fisher Scientific (TMO), Boston Scientific ($BSX), GME Group ($CME), GE Vernova ($GEV), Norfolk Southern ($NSC), Virtu Financial ($VIRT). 🛏️
After-Hour Earnings: Chipotle Mexican Grill ($CMG), QuantumScape ($QS), Lam Research ($LRCX), ServiceNow ($NOW), IBM ($IBM), Texas Instruments ($TXN), Alaska Air Group ($ALK), Discover Financial ($DFS), Edwards Lifesciences ($EW), Imax ($IMAX), ResMed ($RMD). 🎧
P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍
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