Economy on 25.04.2024...
Recovery stopped right away? Meta falls, despite solid figures...⤵️
Tuesday led us to believe that the correction, if it is one at all, has already come to an end and the recovery is underway. Economic data from the USA also look good and many investors were already very euphoric again.
Was that too early?
Was it just a fake breakout?
Was yesterday's setback too exaggerated?
These are questions that you always ask yourself. The stock market is not a one-way street. I stopped out a few shorts on Tuesday that would have made too much money yesterday or tonight. The stock market can be that simple :D
It's always good to have some cash in your portfolio for moments like this. It always lets you sleep well and the money management for the risk area in the portfolio has to be right. Let's see how the market continues today and how we go into the weekend. For now, let's take a look at tonight's figures.
$META
Meta Platforms
first quarter EPS of $4.71 beats analyst estimates of $4.32. Revenue of $36.46bn beats expectations of $36.14bn. Meta sees second quarter revenue of $36.5-39bn (consensus $38.25bn). Meta raises CAPEX outlook for FY 2024 from $30-37bn to $35-40bn. Active users increase by 7% but spending also increases by 6%. As a result, the outlook for Q2 is somewhat weaker.
$IBM
IBM
beats analyst estimates of $1.58 in the first quarter with earnings per share of $1.68. Revenue of $14.46 bn below expectations of $14.51 bn. IBM confirms guidance for 2024 and expects revenue growth in the mid-single digits. Still sees free cash flow of $12 billion.
$F
Ford Motor
First quarter earnings per share of $0.49 beat analyst estimates of $0.42. Revenue of $42.8bn below expectations of $42.94bn.
$CMG
Chipotle Mexican Grill
first quarter earnings per share of $13.37 beat analysts' estimates of $11.65. Sales of $2.7 billion beat expectations of $2.67 billion.
$WM
Waste Management Inc.
(Del.) first-quarter EPS of $1.75 beat analysts' estimates of $1.50. Revenue of $5.16 billion beat expectations of $5.21 billion.
$LRCX
Lam Research
third quarter EPS of $7.79 beats analysts' estimates of $7.29. Revenue of $3.79 billion beats expectations of $3.72 billion.
$NOW
ServiceNow
first quarter earnings per share of $3.41 beat analyst estimates of $3.15. Revenue of $2.6 billion beat expectations of $2.59 billion.
The trading day today will also have a lot to offer:
Economic data
08:00
DE: GfK consumer climate indicator April FORECAST: -26.0 points previously: -27.4 points
DE: Construction industry, new orders and sales, February
08:45
FR: Business Climate Index April PROGNOSIS: 103 previous: 102
14:30
US: GDP (1st release) 1Q annualized FORECAST: +2.4% yoy Q4: +3.4% yoy GDP deflator FORECAST: +3.0% yoy Q4: +1.6% yoy
- US: Initial jobless claims (week) FORECAST: 215,000 previous: 212,000
ex-dividend of individual stocks
RTL GROUP 2.75 EUR
Quarterly figures / Company dates USA / Asia
01:30 SK Hynix quarterly figures
07:00 Hyundai quarterly figures
12:30 Caterpillar | Merck & Co | Honeywell
13:00 American Airlines quarterly figures
14:00 Dow Inc quarterly figures
22:01 Microsoft | Intel quarterly figures
22:30 Alphabet | T-Mobile US quarterly figures
Quarterly figures / Company dates Europe
01:30 SK Hynix quarterly figures
06:30 BASF | Redcare Pharmacy | Equinor
06:30 Holcim Trading Update 1Q
07:00 Deutsche Bank | DWS Group | Hella | Hellofresh
07:00 Kion Group | Wacker Chemie | BNP Paribas | Takkt
07:00 Vossloh | STMicroelectronics Quarterly figures
07:15 Nestle 1Q sales
07:30 Aixtron | Atoss | Befesa | Delivery Hero | Symrise
07:30 Baader Bank | Drägerwerk | Pfeiffer Vacuum
07:30 SNP Schneider | Sanofi | Schneider Electric
07:30 Andritz | Adyen quarterly figures
08:00 DFV Deutsche Familienversicherung | LPKF Laser
08:00 Hermes International | Repsol
08:00 Astrazeneca | Barclays quarterly figures
09:00 KSB 1Q results
10:00 BASF | Hella | Munich Re | Schaeffler
10:00 Hamborner Reit AGM
14:30 Hochtief AGM
17:45 Vinci 1Q sales | Airbus quarterly figures
18:00 Flatexdegiro quarterly figures
18:00 Saint-Gobain Turnover 1Q
