📡🅟🅡🅔🅜🅐🅡🅚🅔🅣 🅤🅟🅓🅐🅣🅔📡
Biggest Premarket Movers of our Portfolio:
🟢 $HAS (Hasbro Inc) +4.92%, $VIRT (Virtu Financial Inc) +4.91%, $T (AT&T Inc) +4.06%
🔴 $NWL (Newell Brands Inc.) -1.26%, $VFC (VF Corp) -1.16%
Portfolio Earnings Results:
VIRT: Non-GAAP EPS of $0.76 beats by $0.21, revenue of $642.8M beats by $318.09M
T: GAAP EPS of $0.47 misses by $0.02, revenue of $30.02B misses by $510M
UMC: GAAP EPS of $0.13 misses by $0.02, Revenue of $1.71B beats by $70M
HAS: Non-GAAP EPS of $0.61, revenue of $757.3M
All 4 of our assets that reported Earnings this morning are up thus far in Pre-Market!
Stock index futures are higher today, with growth stocks outperforming following Tesla's earnings.
The 10-year Treasury yield (US10Y) rose 4 basis points to 4.64%. The 2-year yield (US2Y) rose 1 basis point to 4.94%.
Wall Street on Tuesday continued its recovery and ended with solid gains, boosted by technology stocks ahead of key quarterly reports from Magnificent 7 members over the next few days.
"Several factors helped to drive this, but perhaps the most important was actually the disappointing flash PMIs in the U.S., which added to hopes that rate cuts would still happen this year," said Deutsche Bank's Jim Reid.
The composite PMI (flash estimate) came in at 50.9, down from 52.1 in the previous month, signaling business activity in the U.S. expanded at a slower pace during the month, in the wake of signs of weaker demand.
"S&P's PMI survey suggests investors have written off too hastily the chances of the economy weakening suddenly in Q2," said Pantheon Macroeconomics.
Tesla (TSLA), which reported its earnings after close on Tuesday, is up 12% in pre-market trade after the company committed to launching a more affordable model that can be produced on the same manufacturing lines that are currently utilized for the firm's current model lineup.
Tesla's gains come despite the EV maker posting a sharp drop in Q1 revenue, deliveries, margins, and EPS from a year ago.
"Earnings season will continue apace today, as we’ll hear from Meta after the U.S. close later. Before the Tesla results, the weakness in the U.S. PMIs helped to set the tone, with Treasury yields seeing a sharp intraday decline after they came out," Reid said.
Meta (META) is expected to release its results after the bell today.
On the economic front, durable goods orders for March are due before the bell. Economists expect a 2.5% gain, with a 0.3% rise in core durables orders.
"We see scope for a significant undershoot in durable goods orders in March relative to the consensus," said Pantheon Macro.
Orders are "a volatile series, with a very wide forecast range for the headline; so, presenting the outcome as being above or below consensus is not especially helpful," said UBS' Paul Donovan
The Survey of Business Uncertainty is also slated for today during market hours.
🎯PORTFOLIO HIGHLIGHTS:
🔥 ~8% dividend yield
🔥 low risk of dividend cuts
🔥 perfectly diversified across all industry sectors
🔥 dividends balanced throughout the year for almost daily Cashflow
🔥 exponential dividends growth - over 12% in 2022
🔥 0.7 volatility score (Beta) and low Etoro Risk score... Show More
