Today is Wednesday, April 24, 2024.

The Early Bird Index today is 68.38.

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Tesla's New Cheaper Car Model

Despite posting bad financial results, Tesla (Nasdaq: TSLA) surged 13.38% in after-hours trading on Tuesday.

Financials: Tesla reported earnings of 45 cents per share in the past quarter and revenue of $21.3 billion; both were lower than expected.

Powering the Story: Amid low consumer demand for electronic vehicles, Tesla announced plans to introduce “more affordable models” to the market. These are lower-cost EVs for consumers.

Final Thoughts: Things are still troubling for Tesla. Revenue fell and there was negative free cash flow in the past quarter.

Notables

Notable Earnings Today: Meta Platforms (Nasdaq: META), Boeing (NYSE: BA), AT&T (NYSE: T), International Business Machines (NYSE: IBM), Hasbro (Nasdaq: HAS), Vertiv Holdings (NYSE: VRT), Ford Motor (NYSE: F), Humana (NYSE: HUM), Whirlpool (NYSE: WHR), Chipotle Mexican Grill (NYSE: CMG), Hilton (NYSE: HLT), Norfolk Southern (NYSE: NSC), Knight-Swift Transportation Holdings (NYSE: KNX), General Dynamics (NYSE: GD), ServiceNow (NYSE: NOW), Old Dominion Freight Line (Nasdaq: ODFL), Western Union (NYSE: WU), Thermo Fisher Scientific (NYSE: TMO), Waste Management (NYSE: WM), Wyndham Hotels & Resorts (NYSE: WH, Ethan Allen (NYSE: ETD), Viking Therapeutics (Nasdaq: VKTX), Amphenol (NYSE: APH), Lam Research (Nasdaq: LRCX), Boston Scientific (NYSE: BSX), Biogen (Nasdaq: BIIB), Align Technology (Nasdaq: ALGN), Sleep Number (Nasdaq: SNBR), Antero Midstream (NYSE: AM), Antero Resources (NYSE: AR), Avery Dennison (NYSE: AVY), BioMarin Pharmaceutical (Nasdaq: BMRN), BOK Financial (Nasdaq: BOKF), Bunge (NYSE: BG), Celestica (NYSE: CLS), Century Communities (NYSE: CCS), ChampionX (Nasdaq: CHX), Chemed (NYSE: CHE), Churchill Downs (Nasdaq: CHDN), CME Group (Nasdaq: CME), Community Health (NYSE: CYH), Constellium (NYSE: CSTM), Encompass Health (NYSE: EHC), Entergy (NYSE: ETR),  Evercore (NYSE: EVR), First American Financial (NYSE: FAF), Fortive (NYSE: FTV), Graco (NYSE: GGG), Group 1 Auto (NYSE: GPI), Healthcare Services Group (Nasdaq: HCSG), Helen of Troy (Nasdaq: HELE), ICON (Nasdaq: ICLR), Impinj (Nasdaq: PI), Interpublic (NYSE: IPG),Kaiser Aluminum (Nasdaq: KALU), Landstar System (Nasdaq: LSTR), Lennox International (NYSE: LII), Masco (NYSE: MAS), MaxLinear (Nasdaq: MXL), Meritage Homes NYSE: MTH), M/I Homes (NYSE: MHO), Moelis (NYSE: MC), Molina Healthcare (NYSE: MOH), Mr. Cooper Group (Nasdaq: COOP), Nabors Industries (NYSE: NBR), Navient (Nasdq: NAVI), New Oriental Education & Technology (NYSE: EDU), Oceaneering International (NYSE: OII), O'Reilly Automotive (Nadsdaq: ORLY), Otis Worldwide (NYSE: OTIS), Owens Corning (NYSE: OC), Pacific Premier (Nasdaq: PPBI), Pegasystems (Nasdaq: PEGA), Plexus (Nasdaq: PLXS), Prosperity Bancshares (NYSE: PB), QuantumScape (NYSE: QS), Raymond James (NYSE: RJF), Rollins (NYSE: ROL), Sallie Mae (Nasdaq: SLM), Silicon Labs (Nasdaq: SLAB), Synchrony Financial (NYSE: SYF), Teradyne (Nasdaq: TER), TE Connectivity (NYSE: TEL), Teledyne Technologies (NYSE: TDY), Travel + Leisure Co (NYSE: TNL), Universal Health Services (NYSE: UHS), United Rentals (NYSE: URI), Virtu Financial (Nasdaq: VIRT), Wabash National (NYSE: WNC), Watsco (NYSE: WSO).

Notable IPOs Today: TOP Ships Inc. (NYSE American: TOPS).

Notable Equity Crowdfunding Campaigns Ending Today: Naked Nature (Mainvest), Ink’d Greetings (StartEngine), Zeehaus (Wefunder).

Notable Economic Events Today: Durable Goods Orders / Core Durable Goods Orders (8:30 a.m. ET), Crude Oil Inventories (10:30 a.m. ET).

Visa’s Stable Consumer Spending 

Visa (NYSE: V) ticked up 2.20% in after-hours trading on Tuesday after posting good financial results.

Financials: Visa reported earnings of $2.51 per share in the past quarter and revenue of $8.8 billion; both were better than expected.

Final Thoughts: Payment volume grew in the quarter, which Visa attributed to “stable consumer spending.”

Texas Instruments Posts Good Results

Texas Instruments (Nasdaq: TXN) posted good financial results on Tuesday, sending shares up 7.73% in after-hours trading.

Final Thoughts: The stock was down 2% in 2024 before these good results.

Trends to Watch

May Day: Grayscale, BlackRock Ethereum ETF applications updated amid SEC delays (CryptoSlate)

A Bit Dim: Enphase’s stock slumps as outlook miss reflects solar’s ongoing struggles (MarketWatch)

Music City Move: Oracle is moving its world headquarters to Nashville to be closer to health-care industry (CNBC)

Optimism: GM hopes new EVs like the $35K electric Chevy Equinox will help win back market share (Electrek)

New Rewards Route: American Airlines Is Once Again Changing How Fliers Can Earn Rewards (Wall Street Journal)

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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.}