US stock market overview - Tesla, Banks, Bitcoin, Pharmaceuticals and other stocks
Tesla (TSLA) will lay off about 10% of its staff.
The largest reduction in the history of the young company.
Senior Vice President Drew Baglino is also leaving the company.
Spiegel writes about this, citing an internal letter from the billionaire to company employees. In it, Elon Musk justifies the need for layoffs by saying that Tesla “has grown too quickly in recent years, and many functions in the company are duplicated.”
Tesla shares are down 6% and down 34% year to date.
Q1 iPhone (AAPL) Shipments Fall 10% Below Expectations
Apple's iPhone shipments fell the most in Q1 since Covid as demand in China weakened. Sales decreased by 9.6%.
Samsung has regained its leadership in the global smartphone market.
AAPL shares fell 2%.
The Hong Kong Securities and Futures Commission expectedly approved the launch of spot Bitcoin and Ethereum ETFs.
This supported crypto prices.
The New Immo Holding company, which together with Auchan Retail is part of the ELO Group (formerly Auchan Holding), sold its Russian business of
19 shopping centers in different cities of the terrorist state.
Revolut's 45% valuation hike by Schroders signals fintech renaissance - Bloomberg.
Goldman Sachs (GS) shares rose 3% after the report
Goldman Sachs' "back to basics" approach is paying off. The investment bank published a report that exceeded expectations and caused the largest increase in its shares this year. The bank recorded +28% net profit in the 1st quarter, although analysts were preparing for its fall compared to last year. The unexpected surge was driven by traders who avoided a slowdown at archrival JPMorgan Chase & Co. and bankers who capitalized on the surge in deal-making activity.
Goldman's CEO expects AI to create a financial boom due to demand for infrastructure.
Charles Schwab (SCHW) shares rose 2% after the report.
The company reported strong profits and said it was focused on returning capital to shareholders.
M&T Bank (MTB) shares rose 5% after the report.
The stock was the best performer in the S&P 500 on Monday.
Quarterly earnings fell due to the impact on the commercial real estate sector, but the regional bank said it intends to exit that business.
Medical Properties Trust (MPW) shares rose 19%
The largest hospital owner in the United States will sell its stake in five Utah hospitals to a new joint venture for $886 million, reducing its debt load.
Shares of Salesforce (CRM) fell 7% yesterday.
The company is in talks to acquire data management software provider Informatica (INFA).
The price under discussion is below Informatica's Friday closing stock price of $38.48 per share, following the stock's recent surge.
Informatica shares fell 10% to $34.59.
Logitech International (LOGI) shares fell 6%
Morgan Stanley downgraded the computer peripherals maker.
CSCO shares fell 0.5% yesterday.
BofA Securities analyst raised his target price from $55 to $60 (+24% from Friday's price). He sees three big catalysts for Cisco stock in the future: “the expected transition of artificial intelligence networks to Ethernet,” AI, cybersecurity.
Homebuilder stocks fall as high mortgage rates dampen interest in housing in April.
TTN Research is expecting Bitcoin halving on April 19-20.
DJT stock fell 18% following Trump's media release.
DJT stock warrants (DJTWW) are also trading on the market.
Trump owns 57% of the company. And she is a reflection of the former president's high-risk nature for manipulation. Nothing personal, just money.