Tesla in the spotlight: Wall Street cuts profits

Tesla in the spotlight
Wall Street cuts profits

April 24, 2024, 10:57 pm

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After a flood of balance sheets and strong statistics, US investors are becoming more cautious. Experts estimate that investors will switch to other types of assets in the future. Meanwhile, Tesla is making a lot of ground.

Wall Street has almost completely pared its earlier gains following the company’s strong figures. The Dow-Jones-Index benchmarks closed 0.1 percent lower at 38,460 points in the evening. Technology – heavy Nasdaq On the other hand, it rose 0.1 percent to 15,712 points. The wide one S&P 500 closed little changed at 5071 points. “Investors are becoming more cautious, although corporate balance sheets still look strong,” said Brian Nick, chief strategist at financial services provider The Macro Institute. “It’s not that the stock market is being blown out of the water, but it could be that investors are starting to see more opportunities in different asset classes.”

Among private stocks, semiconductor manufacturers were in the spotlight. Names of Texas instruments rose 5.6 percent after the analog chip specialist issued an optimistic forecast for the second quarter. Shares of other chip companies such as Arm advanced around four percent. “Large companies continue to follow the trend and can significantly influence their quarterly financial statements,” said Konstantin Oldenburger, an analyst at the CMC Markets agency.

“And those who like Tesla Because they can’t get points at the moment, investors are comforting themselves with visionaries and at the same time vague promises about the future.” Elon Musk’s company has promised new cheap models for the next year and therefore can get points with investors despite the decrease in The electric car maker’s shares jumped more than twelve percent after Musk did not give any details about the electric cars involved and how the new cars would use “components” of existing and more developed platforms and would be on existing production lines. Tesla to keep its investments under better control in “uncertain times”.

Humana eliminates predictions – weak health insurance companies

American health insurance, among others, was on the losing side Humana. The company withdrew its 2025 forecast, pushing the stock price down 3.6 percent. Humana plans to issue an update once it has more clarity on future reimbursement rates from the US government. The company had already cut its profit forecast for next year from $37 per share to $22 to $26 in January.

Shares of the US solar company also had disappointing sales prospects Emphasizing Energy for. Bonds of the provider of voltage converters and battery storage for solar energy production fell 5.5 percent. Opponent names like Solar power and Running to the sun they lost about one percent and 2.4 after them. Forecasts forecast second-quarter revenue of $290 million to $330 million after a surprisingly weak report for the first months of 2024. Analysts had expected $337.2 million, according to LSEG data. Rising inventories in Europe, electricity meter reform in California and higher interest rates by the US Federal Reserve have reduced demand for the company’s products.