Economy on 24.04.2024...
Is this the end of the correction? Many quarterly figures...⤵️
Turnaround Tuesday has once again delivered what it promised. It almost looked like a strong recovery. Is this the end of the correction? Inflation is still high, the Middle East conflict continues and so on. The interest rate turnaround is not really clear yet either!
We are also back at a point where companies are disappointing with their quarterly figures, but the share price is still reacting very positively. We saw this today with Tesla. It was simply priced in much more. Let's take a look at the quarterly figures from yesterday and tonight:
$MUV2 (-1,1%)
Munich RE
achieved a combined ratio S/U reinsurance of around 75% in the 1st quarter according to preliminary figures; a net profit of around €2.1bn (previous year: €1.27bn, analyst consensus: €1.476bn) and an investment result with a return of 3.8%. In the outlook for 2024, the company continues to see a net profit of €5 billion (forecast: €5.12 billion). According to the management, the preliminary figures for the first quarter increase the probability of exceeding the full-year target.
$V (-0,14%)
Visa
beat analysts' estimates of $2.44 in the second quarter with earnings per share of $2.51. Sales of $8.78 billion exceeded expectations of $8.62 billion.
$PEP (+0,05%)
PepsiCo Inc.
first quarter earnings per share of $1.61 beat analysts' estimates of $1.52. Revenue of $18.25 billion beat expectations of $18.1 billion.
$TSLA (-4,58%)
Tesla
misses analysts' estimates of $0.52 in the first quarter with earnings per share of $0.45. Sales of $21.3 bn below expectations of $22.3 bn. Tesla invested one billion dollars in AI infrastructure in the first quarter and wants to accelerate the launch of cheaper models.
$TXN (-0,01%)
Texas Instruments
beat analyst estimates of $1.07 in the first quarter with earnings per share of $1.20. Sales of $3.66 bn above expectations of $3.61 bn.
$ENPH (+6,64%)
Enphase Energy
misses analysts' estimates of $0.42 in the first quarter with earnings per share of $0.35. Sales of $263.3m below expectations of $281.09m.
Let's take a look at the rest of the trading day today:
10:00
- DE: Ifo Business Climate Index April PROGNOSE: 88.8 PREVIOUS: 87.8 Situation assessment PROGNOSE: 88.6 PREVIOUS: 88.1 Business expectations PROGNOSE: 88.9 PREVIOUS: 87.5
14:00
Deutsche Börse Analyst and Investor Conference 1Q
14:30
US: New orders for durable goods March FORECAST: +2.6% yoy previous: +1.3% yoy
15:00
BE: Business Climate Index April FORECAST: n/a previously: -10.4 points
16:30
- US: Crude oil inventory data (week) from the Energy Information Administration (EIA)
ex-dividend of individual stocks
ING Groep 0.756 Euro
Quarterly figures / company dates USA / Asia
13:30 Boeing quarterly figures
14:30 AT&T quarterly figures
22:05 Ford quarterly figures
23:00 IBM quarterly figures
No time specified:
Align Technology | Lam Research | CME Group | Hasbro| Biogen Quarterly figures
Quarterly figures / Company dates Europe
07:00 Evotec | Roche | Volvo Car Quarterly figures
07:30 Orange SA | KPN Quarterly figures
07:45 Eni SpA Quarterly figures
08:00 Lloyds Banking | Heineken Trading Update 1Q
09:30 Iberdrola quarterly figures
10:00 Vitesco | Intesa Sanpaolo AGM
10:30 Eon PG for the presentation of the fourth H2 balance sheet
13:00 Volkswagen China Capital Markets Day
15:00 RTL Group AGM | Curevac Call on
17:40 Michelin 1Q sales
Without time: Einhell | Curevac
