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Today is Wednesday, May 1, 2024.

The Early Bird Index today is 66.82.

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Amazon Dividend Zero 😞

Amazon (Nasdaq: AMZN) reported good financial results on Tuesday but only increased by 1.23% in after-hours trading.

Financials: Amazon reported earnings of 98 cents per share and revenue of $143.3 billion; both were better than expected.

Powering the Story: The company expects revenue to grow between 7% and 11% in the current quarter, which was lower than anticipated. More importantly, Amazon said it would not give a dividend to investors yet, even though other big tech names are starting to reward investors with a dividend.

Final Thoughts: Amazon is up 16% this year as it continues to grow its cloud and AI businesses.

Notables

Notable Earnings Today: Mastercard (NYSE: MA), Pfizer (NYSE: PFE), Qualcomm (Nasdaq: QCOM), CVS Health (NYSE: CVS), Etsy (Nasdaq: ETSY), Zillow (Nasdaq: ZG), DoorDash (Nasdaq: DASH), eBay (Nasdaq: EBAY), MGM Resorts (NYSE: MGM), Devon Energy (NYSE: DVN), Paycom Software (NYSE; PAYC), Wingstop (Nasdaq: WING), Norwegian Cruise Line (NYSE: NCLH), Carvana (NYSE: CVNA), Fastly (NYSE: FSLY), GlaxoSmithKline (NYSE: GSK), Kraft Heinz (Nasdaq: KHC), Estee Lauder (NYSE: EL), Yum! Brands (NYSE: YUM), DuPont (NYSE: DD), Automatic Data Processing (Nasdaq: ADP), Upwork (Nasdaq: UPWK), Coeur Mining (NYSE: CDE), Garmin (NYSE: GRMN), Marathon Oil (NYSE: MRO), MetLife (NYSE: MET), Avis Budget (Nasdaq: CAR), Marriott International (Nasdaq: MAR), Sunnova Energy (NYSE: NOVA), Ares Capital (Nasdaq: ARCC), Albemarle (NYSE: ALB), AerCap Holdings (NYSE: AER), Aflac (NYSE: AFL), Alkami Technology (Nasdaq: ALKT), Alkermes (Nasdaq: ALKS), American International Group (NYSE: AIG), Avista (NYSE: AVA), Avnet (Nasdaq: AVT), Axalta Coating Systems (NYSE: AXTA), Bally's Corp (NYSE: BALY), Barrick Gold (NYSE: GOLD), Bausch + Lomb (NYSE: BLCO), Beazer Homes (NYSE: BZH), Berry Petroleum (Nasdaq: BRY), Bio-Techne (Nasdaq: TECH), BrightView (NYSE: BV), Brookfield Infrastructure (NYSE: BIP), CDW (Nasdaq: CDW), CF Industries (NYSE: CF), CGI Group (NYSE: GIB), C.H. Robinson Worldwide (Nasdaq: CHRW), Camping World (NYSE: CWH), Chefs' Warehouse (Nasdaq: CHEF), Clean Harbors (NYSE: CLH), Clearwater Analytics (NYSE: CWAN), Cognizant Technology Solutions (Nasdaq: CTSH), Conduent (Nasdaq: CNDT), Cross Country Healthcare (Nasdaq: CCRN), CTS Corp (NYSE: CTS), Dayforce (NYSE: DAY), Envista Holdings (NYSE: NVST), eXp World Holdings (Nasdaq: EXPI), Extreme Networks (Nasdaq: EXTR), First Solar (Nasdaq: FSLR), Freshworks (Nasdaq: FRSH), Generac (NYSE: GNRC), Glaukos (NYSE: GKOS), Gibraltar Industries (Nasdaq: ROCK), Global Payments (NYSE: GPN), Herbalife Nutrition (NYSE: HLF), Host Hotels & Resorts (Nasdaq: HST), Hudson Pacific Properties (NYSE: HPP), Informatica (NYSE: INFA), IDEXX Laboratories (Nasdaq: IDXX), Jazz Pharmaceuticals (Nasdaq: JAZZ), Johnson Controls (NYSE: JCI), Kemper (NYSE: KMPR), KKR (NYSE: KKR), Life Time Group Holdings (NYSE: LTH), LivaNova (Nasdaq: LIVN), Mister Car Wash (NYSE: MCW), Monolithic Power (Nasdaq: MPWR), Netgear (Nasdaq: NTGR), Neurocrine Biosciences (Nasdaq: NBIX), OGE Energy (NYSE: OGE), Parsons (NYSE: PSN), PPL Corp (NYSE: PPL), PTC (Nasdaq: PTC), Qorvo (Nasdaq: QRVO), Repligen (Nasdaq: RGEN), Schrodinger (Nasdaq: SDGR), Scotts Miracle-Gro (NYSE: SMG), Silgan Holdings (NYSE: SLGN),  Stagwell (Nasdaq: STGW), Sprouts Farmers Market (Nasdaq: SFM), Trinity Industries (NYSE: TRN), TTM Technologies (Nasdaq: TTMI), VICI Properties (NYSE: VICI), Vita Coco (Nasdaq: COCO), Westlake (NYSE: WLK), Wolfspeed (NYSE: WOLF).

Notable IPOs Today: Viking Holdings Ltd (NYSE: VIK), Sushi Ginza Onodera, Inc. (NYSE: ONDR), Unifoil Holdings, Inc. (NYSE American: UNFL), IB Acquisition Corp. Common Stock (Nasdaq: IBAC), TrueShares Active Yield ETF (Nasdaq: ERNZ), SCHMID Group N.V. Class A Ordinary Shares (Nasdaq: SHMD), Westwood Salient Enhanced Energy Income ETF (Nasdaq: WEEI).

Notable Equity Crowdfunding Campaigns Ending Today: N/A.

Notable Economic Events Today: API Weekly Crude Oil Stock (8:15 a.m. ET), S&P Global US Manufacturing PMI (9:45 a.m. ET), JOLTs Job Openings (10:00 a.m. ET), ISM Manufacturing PMI / Prices / Employment (10:00 a.m. ET), ISM Manufacturing PMI (9:45 a.m. ET), ISM Manufacturing PMI (10:30 a.m. ET), Fed Interest Rate Decision (2:00 p.m. ET), FOMC Press Conference (2:30 p.m. ET).

AMD's AI Chip Sales Forecast

Despite posting better-than-expected financial results on Tuesday, shares of Advanced Micro Devices (Nasdaq: AMD) fell by 6.91% in after-hours trading because its AI chip sales forecast left investors disappointed.

Final Thoughts: AMD was up 14% in 2024 before these results. The gaming segment results in the quarter were also terrible.

Starbucks’ “Highly Challenged Environment”

Bad financial results caused shares of Starbucks (Nasdaq: SBUX) to drop 11.57% in after-hours trading on Tuesday.

Final Thoughts: Starbucks is down for the year. The company said it is facing a “highly challenged environment.”

Trends to Watch

Strong Growth: Pinterest Revenue Surges on Popularity of Shopping Push (Bloomberg)

Slipping: Super Micro pushes up full-year revenue forecast as it points to strong AI demand (CNBC)

Bad April: Bitcoin Tumbles Below $60K, Risking Deeper Pullback as Crypto Markets Endure Worst Month Since FTX Crash (CoinDesk)

April’s Winner: GE Aerospace Is the S&P 500’s Top-Performing Stock in April. Globe Life Is the Worst. (Barron’s)

Shocking Change: Tesla layoffs hit Supercharger team just as it’s poised to take over EV charging (The Verge)

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_{The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.}