Consumer Discretionary

Tesla’s FSD Nod Win Seen As Move To ‘Smooth Over Chinese EV’s Entry Into The US Market’ Says Redditor

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Tesla Inc.’s (NASDAQ:TSLA) recent achievement in passing a significant milestone for its full self-driving (FSD) technology in China sparked discussions among investors and enthusiasts. The news, which caused Tesla’s share price to spike more than 15% on Monday, comes as the electric car maker continues to navigate the competitive Chinese market. Strategic Win For Tesla The breakthrough in China raises expectations that Tesla’s FSD technology will soon be available in the country. China is Tesla’s largest market for electric vehicles. Investors see this move as a strategic win for Tesla. Especially since it comes at a time when it is facing stiff competition from local rivals such as BYD Co Ltd (OTCPK:BYDDF) (OTCPK:BYDDY), Nio Inc – ADR (NYSE:NIO), and Xpeng Inc – ADR (NYSE:XPEV). However, some investors remain cautious about the impact of this development on Tesla’s stock. May Not Be The Catalyst To Drive Further Gains, Says Redditor The Redditor known as Puginator posted on r/stocks, sharing his […]

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Southwest Airlines(LUV.US) Q1 2024 Earnings Conference

/ / Consumer Discretionary /

The following is a summary of the Southwest Airlines Co. (LUV) Q1 2024 Earnings Call Transcript: Financial Performance: Southwest Airlines achieved record first quarter operating revenues and passengers, continuing their trend of eight consecutive quarters of growth. Despite setbacks from Boeing’s delivery delays, managed business revenues increased by 25% YoY. To manage potential cost increases, the company trimmed its 2024 capital spending forecast from $3.5 billion – $4 billion to $2.5 billion. For Q2 2024, Southwest projects a record revenue performance, marking it the ninth consecutive quarter of top line growth. Ancillary revenue rose by 18% YoY in Q1, outpacing the company’s passenger growth. Business Progress: Southwest opened 18 new cities during the pandemic and restored its network quickly after the 2022 demand surge. However, adjustments are being made to enhance profits, including network optimizations, underperforming market adjustments, revenue performance improvements through marketing and revenue management, and efficiency initiatives. Additional

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Ford Q1 Beat Driven by Pro Volume Growth, Lower Model E Losses, BofA Says

/ / Consumer Discretionary /

Ford’s (F) Q1 beat was driven by solid volume growth in the company’s Pro segment as well as lower losses in Model E, BofA Securities said in a note to clients on Thursday. However, Blue “partially worked as an offset due to the timing of 60K F-150s held in inventory,” the investment firm said. The carmaker reported Q1 adjusted earnings Wednesday of $0.49 per diluted share, down from $0.63 a year earlier. Analysts surveyed by Capital IQ expected $0.44. Revenue for the quarter was $42.78 billion, up from $41.47 billion a year earlier. Analysts expected $41.47 billion. The company’s management “painted a positive picture for Ford as strength in its core truck market continues. Demand for Pro remains high and, in the priority pecking order, it sits atop when resources are allocated,” BofA said. “New Pro products are expected to launch in 2H in Europe, which may impact volumes in

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Chipotle Q1 Results to Outshine Peers Due to Strong Sales, Margin Improvement, Deutsche Bank Says

/ / Consumer Discretionary /

Chipotle Mexican Grill (CMG) investors should be pleased with the Q1 results as it is expected to be among the strongest in the restaurant industry, Deutsche Bank said in a note Thursday. The company surpassed expectations with increased customer traffic driving strong same-store sales and improved restaurant-level margins, the note added. The company increased its full-year sales guidance due to continued momentum in April, Deutsche Bank said. The firms said Chipotle’s innovation and marketing plans combined with increased efforts on personalized offerings will support multi-year benefits. Deutsche Bank reiterated its buy rating on the company’s stock with a price target of $3,600. Chipotle shares were up 6% in recent trading.

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CFRA Upgrades Rating On Shares Of Spotify Technology S.a. To Buy From Hold

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We think the current share price is an attractive entry point to buy SPOT with the shares pulling back from this week’s high. Our target price is $325 using a forward P/E of 67.0x our 2024 earnings estimate, below the five-year historic average of 78.0x. On April 23, we increased our 2024 EPS estimate to EUR4.85 from EUR2.40 and 2025’s to EUR6.30 from EUR3.95 per share. We think SPOT can grow profitably with higher unit volumes and widening margins. Our revenue forecast is EUR15.8B in 2024 and EUR17.6B in 2025 vs. EUR13.2B in 2023. Gross margins ended Q1 2024 at 27.6%, +90 bps Q/Q, with more cost discipline and one-time restructuring charges. We see 2024 gross margins at 28.0%-29.5%. We like the music streaming market’s attractive growth

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CFRA Maintains Buy View On Shares Of Chipotle Mexican Grill, Inc.

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lift our 12-month target to $3,700 from $2,930, 66.0x our 2024 EPS, a premium to CMG’s five-year average forward P/E, reflecting CMG’s outsized growth relative to peers. We raise our 2024 EPS to $56.04 from $54.12 and 2025’s to $66.35 from $65.10. CMG posted Q1 adj-EPS of $13.37, $1.69 above consensus. Revenue of $2,702M (+14.1% Y/Y) was $31M above consensus. Operating income rose 20.0% Y/Y to $441M vs. the $412M consensus, with the margin widening 80 bps Y/Y to 16.3%. Comp sales rose 7.0% vs. the 5.3% consensus, driven by transactions growth (~5.5%) and higher menu pricing (~2.8%), partially offset by negative mix and check. CMG raised its 2024 comp sales guidance to the mid- to high-single-digit range as staffing, scheduling, and execution of its “four

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CFRA Reiterates Hold Opinion On Shares Of Southwest Airlines Co.

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We cut our 12-month target by $2 to $28, 24.3x our 2025 EPS view of $1.15 (from $1.51; 2024’s to $0.79 from $1.05), below LUV’s historical average. We think a discount is merited due to ongoing issues with Boeing (BA 164 **), causing further delays in new aircraft deliveries (LUV expects 20 aircraft deliveries in 2024 vs. prior guide of 46), which could cause unit costs to rise, in our view. Q1 LPS of -$0.36 vs. LPS of -$0.27 missed consensus by $0.02. Revenues grew 11% Y/Y on 11% capacity growth. LUV revised its 2024 guide, with capacity now expected to grow by 4% (vs. prior 6%) due to delays in aircraft deliveries. LUV noted today that it plans to end operations at four airports (Hancock Int’l,

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Hilton Reports First Quarter Results

/ / Consumer Discretionary /

Hilton Reports First Quarter Results MCLEAN, Va.–(BUSINESS WIRE)–April 24, 2024– Hilton Worldwide Holdings Inc. (“Hilton,” “the Company,” “we,” “us” or “our”) (NYSE: HLT) today reported its first quarter 2024 results. Highlights include: This press release features multimedia. View the full release here: — Diluted EPS was $1.04 for the first quarter, and diluted EPS, adjusted for special items, was $1.53 — Net income was $268 million for the first quarter — Adjusted EBITDA was $750 million for the first quarter — System-wide comparable RevPAR increased 2.0 percent, on a currency neutral basis, for the first quarter compared to the same period in 2023 — Approved 29,800 new rooms for development during the first quarter, bringing Hilton’s development pipeline to a record 472,300 rooms as of March 31, 2024, representing growth of 10 percent from March 31, 2023 — Added 16,800 rooms to Hilton’s system in the first quarter, resulting in

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Tesla(TSLA) Q1 2024 Earnings Conference

/ / Consumer Discretionary /

The following is a summary of the Tesla, Inc. (TSLA) Q1 2024 Earnings Call Transcript: Financial Performance: Tesla experienced a seasonal decline in auto revenues with auto margins dipping from 18.9% to 18.5%. Negative free cash flow of $2.5 billion in Q1 2024 was seen due to an increased inventory and CapEx for AI compute. The Energy business set a new record with margins reaching 24.6% with forecasts of energy storage deployments growing at least 75% higher from 2023. Business Progress: Despite global pressures on the EV market, Tesla is investing in energy storage deployments and expects record profitability in the coming years. The production of new vehicle models has been expedited with production starting in 2025. Tesla’s AI-driven Full Self Driving (FSD) Version 12 is now on 1.8 million vehicles, with its subscription price reduced to $99 a month. The company’s core AI infrastructure is set to expand from

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Hilton Logs Higher 1Q Results, Lifts Adjusted Earnings Outlook

/ / Consumer Discretionary /

Hilton Worldwide recorded a higher profit and sales in the first quarter of the year and raised its adjusted earnings guidance for the rest of the year. The hotel operator posted a profit of $265 million, or $1.04 a share, compared with $206 million, or 77 cents a share, in the same quarter a year ago. Stripping out one-time items, adjusted earnings were $1.53 a share. Analysts polled by FactSet had been expecting $1.41 a share. Quarterly revenue rose to $2.57 billion from $2.29 billion last year, clearing analyst projections for $2.51 billion, according to FactSet. The strong results came despite renovations, inclement weather and unfavorable holiday shifts weighing on the company’s performance more heavily than anticipated, Chief Executive Christopher Nassetta said. Hilton shifted its earnings outlook for the year, saying it now expects a smaller profit but higher adjusted earnings per share. For 2024, the company is forecasting a

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General Motors Co. (NYSE: GM) Releases 2024 First-Quarter Results and Raises Full-Year Guidance

/ / Consumer Discretionary /

GM Releases 2024 First-Quarter Results and Raises Full-Year Guidance PR Newswire DETROIT, April 23, 2024 DETROIT, April 23, 2024 /PRNewswire/ — General Motors Co. (NYSE: GM) today reported first-quarter 2024 revenue of $43.0 billion, net income attributable to stockholders of $3.0 billion and EBIT-adjusted of $3.9 billion. GM is also updating its 2024 full-year earnings guidance: Updated 2024 Guidance Previous 2024 Guidance ————————- ————————- Net income attributable $10.1 billion – $11.5 $9.8 billion – $11.2 to stockholders billion billion EBIT-adjusted $12.5 billion – $14.5 $12.0 billion – $14.0 billion billion Automotive operating $18.3 billion – $21.3 $18.0 billion – $21.0 cash flow billion billion Adjusted automotive free $8.5 billion – $10.5 $8.0 billion – $10.0 cash flow billion billion EPS-diluted $8.94 – $9.94 $8.50 – $9.50 EPS-diluted-adjusted $9.00 – $10.00 $8.50 – $9.50 GM’s 2024 financial guidance includes anticipated capital spending of $10.5 billion – $11.5 billion, inclusive of investments

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