Tesla Surges 12% with 2025 Affordable Vehicle Promise, Evotec Slumps 36% on Uncertain Outlook, and Latest Earnings
24 Abril 2024 - 8:29AM
IH Market News
Tesla (NASDAQ:TSLA) – Tesla shares rose 11.96%
in pre-market trading on Wednesday, even though its first-quarter
earnings were below analysts’ forecasts. Tesla reported an adjusted
earnings per share of 45 cents with revenues of $21.3 billion,
while analysts had expected earnings per share of 51 cents and
revenues of $22.15 billion. Moreover, Tesla revealed plans to
launch “new models” in early 2025, utilizing its existing platforms
and production lines, while abandoning production of a brand new
$25,000 model. Elon Musk mentioned a “robotaxi product” under
development but did not provide a timeline for its release.
Evotec (NASDAQ:EVO) – Shares of Evotec, a
German biotechnology company, plummeted -36.34% in pre-market after
revealing an uncertain outlook, along with the appointment of a new
CEO. Despite the 2023 financial results aligning with estimates,
the drop in EBITDA and rise in revenues did not reassure investors.
EBITDA fell 35% to 66 million euros, and revenues increased 4% to
781 million euros.
Texas Instruments (NASDAQ:TXN) – Texas
Instruments shares increased by 7.3% in pre-market trading due to
robust first-quarter earnings. Texas Instruments reported earnings
per share of $1.20 and revenue of $3.66 billion, surpassing
analysts’ forecasts, which were $1.07 per share and $3.61 billion
in revenue, as indicated by LSEG. Additionally, the company issued
projections for the current quarter’s performance in line with
expectations.
Seagate Technology (NASDAQ:STX) – Seagate
shares rose 1.7% in pre-market after releasing positive projections
for the next quarter. Last quarter, Seagate reported adjusted
earnings of 33 cents per share, slightly above the expected 29
cents, while revenue fell 11% to $1.66 billion, below estimates.
For the next quarter, the company forecasts adjusted earnings per
share of 70 cents, exceeding analysts’ expectations, with revenue
around $1.85 billion, aligned with market forecasts.
Visa (NYSE:V) – Visa shares rose 2.6% in
pre-market after announcing earnings that exceeded expectations.
Visa reported earnings per share of $2.51, excluding extraordinary
items, with revenue of $8.78 billion. Analysts surveyed by LSEG had
expected earnings per share of $2.44 and revenue of $8.63
billion.
TE Connectivity (NYSE:TEL) – TE Connectivity
shares fell 0.9% in pre-market after second-quarter results
revealed earnings per share of $1.86, an increase of approximately
13% year-over-year, with sales of $3.97 billion. Orders reached $4
billion, surpassing sales for the first time in six quarters. The
forecast for the third quarter is earnings per share of $1.85, with
sales of $4 billion, but the appreciation of the U.S. dollar could
pose a hurdle, with an estimated impact of 15 cents per share due
to exchange rates.
Baker Hughes (NASDAQ:BKR) – Baker Hughes shares
fell 2.4% in pre-market, despite the company surpassing analysts’
expectations in the first quarter, driven by higher international
drilling demand. Its total revenue rose to $2.79 billion in the
international segment. Adjusted earnings were 43 cents per share,
while total revenue increased 12.3% to $6.42 billion. Analysts’
average estimates were adjusted earnings per share of 40 cents and
revenue of $6.37 billion.
Enphase Energy (NASDAQ:ENPH) – Enphase Energy
shares fell 8.3% in pre-market, following the latest earnings
report, along with revenue projections for the current quarter that
disappointed Wall Street. Enphase reported earnings of 35 cents per
share with revenue of $263 million in the first quarter, while
analysts had expected 40 cents per share and revenue of $280
million, according to LSEG. The company indicated it expects to
generate revenues in the second quarter between $290 million and
$330 million, below the consensus forecast of $349 million.
SunPower (NASDAQ:SPWR) – SunPower identified
distortions in its fiscal year 2022 results, predicting a revenue
reduction between $15 million to $25 million due to capitalized
deferred costs and misclassifications of expenses. The review of
the numbers is still ongoing.
Mattel (NASDAQ:MAT) – Mattel shares rose 2.8%
in pre-market after announcing a smaller-than-expected loss per
share. Mattel reported a loss of 5 cents per share in the first
quarter, while analysts expected 12 cents, according to LSEG.
Mattel’s revenues were $810 million for the quarter, below Wall
Street’s estimate of $832 million.
Philip Morris International (NYSE:PM) – Philip
Morris International exceeded quarterly earnings expectations,
driven by the strength of its smoke-free growth strategy. Adjusted
earnings were $1.50 per share, above the expected $1.41. Quarterly
revenue of $8.8 billion also surpassed estimates of $8.44 billion.
Organic revenue from the smoke-free business increased nearly 25%,
boosting an organic gross profit increase of 37.5%. The adjusted
operating profit margin grew to 44.5%, from 42% a year ago. For the
second quarter, the company expects adjusted earnings per share
between $1.50 and $1.55, below the $1.62 predicted by analysts. For
2024, PM now anticipates adjusted earnings per share between $6.19
and $6.31, lower than the previous estimate of $6.32 to $6.44.
Evotec (NASDAQ:EVO)
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