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Happy Customers, Happy Investors: Customer Satisfaction ETF Hits All-Time High

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American Customer Satisfaction ETF

In a recent episode of CNBC&#8217;s &#8220;Mad Money,&#8221; host Jim Cramer lauded Chipotle Mexican Grill Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) for its ability to thrive despite a sluggish economy, attributing its success to its &#8220;self-help&#8221; strategy.
What Happened: Cramer, on Thursday, highlighted the performance of companies that can sustain growth despite economic challenges. He specifically pointed to Chipotle, commending its ability to improve and expand its operations, <a href="https://www.cnbc.com/2024/04/25/cramer-praises-chipotle-for-growing-despite-a-slowing-economy.html">reported</a> CNBC.
"When we're looking for reasons to buy a stock in this environment, we want companies that generate constant self-help. Chipotle does it by improving throughput — how many people that they can serve, say, every 15 minutes," he said. "It just keeps getting better and better and that's got nothing to do with GDP or inflation woes."
The fast-casual chain recently released its quarterly earnings, surpassing Wall Street&#8217;s expectations. Despite raising prices, Chipotle experienced a surge in both sales and foot traffic, leading to a more than 6% increase in its share price by Thursday&#8217;s close.
Cramer suggested that Chipotle&#8217;s success could be attributed to its ability to meet consumer demand by enhancing its service speed, a strategy that is independent of broader economic factors like inflation and GDP.
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38374423/elon-musk-reacts-as-ark-invest-analyst-says-its-going-to-be-very-hard-for-tesla-rivals-to-catch-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts As ARK Invest Analyst Says &#8216;It&#8217;s Going To Be Very Hard&#8217; For Tesla Rivals &#8216;To Catch Up To</a>
He also noted that this kind of &#8220;self-help&#8221; approach could counteract the market&#8217;s current concerns, particularly in light of the ongoing challenges such as increased interest in the bond market.
"It takes a special kind of stock to do well when the economy's slowing while inflation just won't quit," he said.
Why It Matters: Chipotle&#8217;s recent financial performance has been impressive. The company&#8217;s first-quarter revenue increased by 14.1% year-over-year to $2.702 billion, <a href="https://www.benzinga.com/news/earnings/24/04/38417218/chipotle-mexican-grill-q1-earnings-revenue-beat-eps-beat-comparable-sales-up-7-and-more">beating the consensus estimate</a>. The company&#8217;s comparable restaurant sales also saw a 7% year-over-year increase, driven by higher transactions and a 1.6% rise in the average check.
Chipotle&#8217;s strong financial results led to a rise in its stock price, prompting analysts to <a href="https://www.benzinga.com/news/earnings/24/04/38430514/chipotle-mexican-grill-analysts-raise-their-forecasts-after-better-than-expected-earnings">raise their forecasts</a> for the company&#8217;s future performance. The company&#8217;s international expansion also reached a milestone with the <a href="https://www.benzinga.com/markets/equities/24/04/38360106/chipotle-to-spice-up-kuwait-city-new-location-marks-decade-long-international-expansion">opening of its first location</a> in Kuwait City, marking a decade of international growth.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38399275/no-choice-elon-musk-reacts-as-x-user-reveals-main-reason-why-the-billionaire-is-re-organizing-te?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;No Choice:&#8217; Elon Musk Reacts As X User Reveals &#8216;Main Reason&#8217; Why The Billionaire Is &#8216;Re-Organizing&#8217; Tesla</a>
Image Via Shutterstock 
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Equities

Global

Markets

Jim Cramer Praises Chipotle's 'Self-Help' Strategy Amid Economic Slowdown: 'Inflation Just Won't Quit'

GXO&#39;s partnership with Virgin Media O2 has helped remove 48 tonnes of single use plastic since 2021
GXO has driven a&nbsp;94%&nbsp;reduction in single use plastics across its logistics operation

GXO Drives Major Plastic Reduction For Virgin Media O2, Eliminating 48 Tonnes Since 2021

Ohio Valley Banc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OVBC#NASDAQ">OVBC</a>) reported quarterly earnings of $0.58 per share. This is a 29.27 percent decrease over earnings of $0.82 per share from the same period last year. The company reported $14.89 million in sales this quarter. This is a 3.89 percent decrease over sales of $15.49 million the same period last year.

Earnings

OVBC

Ohio Valley Banc Q1 EPS $0.58 Down From $0.82 YoY, Sales $14.89M Down From $15.49M YoY

Gogoro And Nebula Energy Launch Battery Swapping Ecosystem And Gogoro Crossover Smartscooter In Nepal

BNR will change the ratio of its American depositary shares (the &quot;ADSs&quot;) to Class A ordinary shares from one (1) ADS representing one (1) Class A ordinary share to one (1) ADS representing ten (10) Class A ordinary shares (the &quot;ADS Ratio Change&quot;).

Burning Rock Biotech To Adjust ADS To Ordinary Share Ratio Effective May 15

~ Over the past 20 years, AOI has grown to be the largest cold pressing oil plant in the
APAC region, pressing strictly GMO free conventional and organic oilseeds ~

COOT

Reported Earlier, Australian Oilseeds Secures Contracts With Woolworths And Costco For Non-GMO Cold-Pressed Oils

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), is undergoing its <a href="https://www.benzinga.com/news/24/04/38309742/laid-off-by-tesla-heres-what-you-get-and-cant-do-with-their-severance-offer">biggest workforce reduction</a> ever in a bid to combat slowing demand and falling margins. The company has decided to cut over 10% of its workforce or about 14,000 jobs. But where have the maximum slashings taken place? Benzinga examines using the data (as of April 2024) at hand.&nbsp;
<h3 class="wp-block-heading">United States</h3>
According to WARN notices filed with the states of Texas and California, Tesla will eliminate 3,332 jobs in California and 2,688 positions in Texas, totaling over 6,000 positions, starting June 14.&nbsp;
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Region</td>
<td>Number of Jobs Cut</td>
</tr>
<tr>
<td>California</td>
<td>3,332</td>
</tr>
<tr>
<td>Texas</td>
<td>2,688</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Germany</h3>
Tesla&#8217;s Giga Berlin plant in Germany, which currently employs around 12,500 workers, was initially reported to be losing about 3,000 heads. Tesla, however, denied this and said it was planning to cut only around 400 jobs, representing approximately 3% of the factory&#8217;s workforce, according to a Reuters report.&nbsp;
These layoffs come amidst a challenging sales market for electric cars in Europe, prompting Tesla to optimize production efficiency.
See Also:&nbsp;<a href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock" target="_blank" rel="noreferrer noopener">Everything You Need to Know About Tesla Stock</a>
<h3 class="wp-block-heading">China</h3>
Chinese media <a href="https://en.tmtpost.com/post/7048616">reports</a> suggest that more than 20% of Tesla&#8217;s workforce in the country could be affected by the layoffs, with some departments losing as much as half of their staff.
Tesla China is reportedly offering severance packages ranging from N+1 to N+3 (one month's pay per year of service, plus additional months&#8217; wages).
Giga Shanghai, according to media reports, employs roughly 20,000 workers. An estimated 20% reduction would imply 4,000 job losses, a lot less than in the United States.&nbsp;
But when assuming that the known layoffs in other regions — totaling about 6,400 — are final, then Tesla's cuts in China would go up to 7,600, the most in any region.
However, it is important to note that corporate layoffs usually happen in several stages over a company's financial calendar year.
Overview of Tesla&#8217;s Global Workforce Reduction
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26022508/Tesla-Layoffs-1024x683.jpg" alt="" class="wp-image-310039" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26022508/Tesla-Layoffs-1024x683.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26022508/Tesla-Layoffs-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26022508/Tesla-Layoffs-768x512.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26022508/Tesla-Layoffs-1536x1024.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26022508/Tesla-Layoffs.jpg 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Graphic by: Ramakrishnan M/Benzinga
Employee Count Back To 2022 Levels?
<figure class="wp-block-image"><img decoding="async" src="https://datawrapper.dwcdn.net/igHeT/full.png" alt="" /></figure>
Why It Matters: Tesla&#8217;s layoffs reflect the broader challenges facing the company, including declining sales, pricing pressures, and the need to optimize production efficiency. 
CEO Elon Musk, however, managed to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38402856/tesla-bull-says-elon-musk-delivered-rip-the-band-aid-off-q1-but-cautions-this-could">assuage some investor concerns</a> after a dismal quarterly earnings showing by promising to roll out cheaper EV models even as he doubles down on his "blindingly obvious" <a href="https://www.benzinga.com/news/24/04/38424183/tesla-is-betting-big-on-robotaxi-but-this-rival-thinks-elon-musks-vision-could-be-more-than-5-years">robotaxi vision</a> for the company.
Read Next:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38451359/tesla-investor-touts-ev-giants-billions-mile-leap-in-gathering-self-driving-data-ho" target="_blank" rel="noreferrer noopener">Tesla Investor Touts EV Giant&#8217;s Billions-Mile Leap In Gathering Self-Driving Data: &#8216;How Can Any Automaker Catch Up?&#8217;</a>
Photo via Shutterstock

Tech

TSLA

Tesla's Biggest Layoffs Mapped: Where Has EV Giant Cut Most Jobs?

<ul>
<li>MAV Capital is an alternative asset manager focused on agribusiness with approximately&nbsp;R$550 million&nbsp;in assets under management in sector specific private credit funds, led by a best-in-class and highly seasoned team with extensive experience in the sector;</li>
<li>The transaction aims to consolidate Vinci&#39;s position across the agribusiness segment in&nbsp;Brazil, a substantially underserved segment by the investment industry;</li>
<li>Brazil&nbsp;exhibits numerous competitive advantages and is currently recognized as a key global player, while locally agribusiness and related activities are a meaningful contributor to the country&#39;s GDP;</li>
<li>The acquisition is aligned with Vinci&#39;s long-term growth plan, enabling Vinci to further expand its product offering by enhancing its credit segment and creating a dedicated vertical to the Agribusiness sector;</li>
</ul>

VINP

Reported Earlier, Vinci Partners To Acquire MAV Capital, Expanding Reach In Brazil's Agribusiness Sector

Belite Bio&nbsp;entered into a securities purchase agreement with an institutional investor, for the purchase and sale of up to an aggregate of 651,380 American Depositary Shares of the Company (&quot;ADSs&quot;), each ADS representing one ordinary share of the Company at a purchase price of&nbsp;$38.38&nbsp;per ADS, and the warrants to purchase up to an aggregate of 651,380 ADSs, which will have an initial exercise price equal to&nbsp;$44.14&nbsp;per ADS and will be immediately exercisable and expire on the five-year anniversary of the issuance, in a registered direct offering. The closing of the offering is expected to occur on or about April 30, 2024, subject to the satisfaction of customary closing conditions.

BLTE

Reported Earlier, Belite Bio Secures $25M In Registered Direct Offering With Institutional Investors

Heritage Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTBK#NASDAQ">HTBK</a>) reported quarterly earnings of $0.17 per share which missed the analyst consensus estimate of $0.18 by 5.56 percent. This is a 45.16 percent decrease over earnings of $0.31 per share from the same period last year. The company reported quarterly sales of $42.140 million which missed the analyst consensus estimate of $42.284 million by 0.34 percent. This is a 19.00 percent decrease over sales of $52.024 million the same period last year.

Earnings Misses

HTBK

Heritage Commerce Q1 2024 GAAP EPS $0.17 Misses $0.18 Estimate, Sales $42.140M Miss $42.284M Estimate

With U.S. stock futures trading higher this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) to report quarterly earnings at $2.20 per share on revenue of $78.35 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Exxon Mobil shares fell 0.3% to $121.00 in after-hours trading.</li>
<li>Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) posted better-than-expected earnings and sales results for its third quarter on Thursday. The company's revenue increased 17% year-over-year to $61.9 billion, which beat the consensus estimate of $60.804 billion, according to Benzinga Pro. The tech giant reported quarterly earnings of $2.94 per share, which beat analyst estimates of $2.82 per share. Microsoft shares jumped 4.4% to $416.70 in the after-hours trading session.</li>
<li>Analysts are expecting Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) to post quarterly earnings at $2.87 per share on revenue of $50.66 billion. The company will release earnings before the markets open. Chevron shares fell 0.3% to $164.85 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) posted upbeat results for its first quarter. Alphabet&#8217;s board authorized an additional share repurchase program of up to $70 billion and also announced its first-ever quarterly dividend. Alphabet shares jumped 11.5% to $176.08 in the after-hours trading session.</li>
<li>Analysts expect Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) to post quarterly earnings at $2.17 per share on revenue of $33.08 billion before the opening bell. Phillips 66 shares rose 0.3% to $157.77 in after-hours trading.</li>
</ul>
Also Check This Out: <a href="https://www.benzinga.com/news/24/04/38430578/top-3-financial-stocks-that-could-sink-your-portfolio-this-quarter">Top 3 Financial Stocks That Could Sink Your Portfolio This Quarter</a>

Pre-Market Outlook

GOOG

GOOGL

MSFT

Microsoft, Alphabet And 3 Stocks To Watch Heading Into Friday

The CNN Money Fear and Greed index showed a slight improvement in the overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Thursday.
U.S. stocks settled lower on Thursday, following the release of economic reports.
The U.S. economy grew an annualized 1.6% in the first quarter, marking a notable slowdown from the 3.4% rate in the final quarter of 2023. However, analysts were expecting a 2.5% growth. The core price index for personal consumption expenditures increased by an annualized 3.7% in the first quarter versus a 2% gain in the prior three-month period.
Merck &amp; Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) reported better-than-expected first-quarter financial results and raised its 2024 guidance. Shares of Bristol Myers Squibb &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) fell more than 8% on Thursday after the company swung to a loss in the first quarter. Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) shares dipped over 10% after reporting first-quarter results.
Most sectors on the S&amp;P 500 closed on a negative note, with communication services, health care and real estate stocks recording the biggest losses on Thursday. However, materials and emergy stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 375 points to 38,085.80 on Thursday. The S&amp;P 500 fell 0.46% at 5,048.42, while the Nasdaq Composite dipped 0.64% at 15,611.76 during Wednesday's session.
Investors are awaiting earnings results from Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>), Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) today.
At a current reading of 40.2, the index remained in the &#8220;Fear&#8221; zone on Thursday, versus a prior reading of 39.1.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Check This Out: <a href="https://www.benzinga.com/news/24/04/38430578/top-3-financial-stocks-that-could-sink-your-portfolio-this-quarter">Top 3 Financial Stocks That Could Sink Your Portfolio This Quarter</a>

Investor Sentiment Improves Slightly, But Dow Tumbles Over 350 Points

First Savings Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSFG#NASDAQ">FSFG</a>) reported quarterly earnings of $0.52 per share which beat the analyst consensus estimate of $0.45 by 15.56 percent. This is a 3.7 percent decrease over earnings of $0.54 per share from the same period last year. The company reported quarterly sales of $14.338 which missed the analyst consensus estimate of $14.684 million by 100.00 percent. This is a 100.00 percent decrease over sales of $22.428 million the same period last year.

Earnings Beats

FSFG

First Savings Financial Q2 2024 Adj EPS $0.52 Beats $0.45 Estimate, Sales $14.338 Miss $14.684M Estimate

<table cellspacing="0">
<tbody>
<tr>
<td colspan="7" rowspan="1">
FINANCIAL RESULTS
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="7" rowspan="1">
4Q23 CONSOLIDATED RESULTS
</td>
</tr>
<tr>
<td colspan="7" rowspan="1">
(In Ps. Millions, except percentages)
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
4Q23
</td>
<td colspan="1" rowspan="1">
As % of Revenue
</td>
<td colspan="1" rowspan="1">
4Q22
</td>
<td colspan="1" rowspan="1">
As % of Revenue
</td>
<td colspan="1" rowspan="1">
Growth (%)
</td>
<td colspan="1" rowspan="1">
Variation (Bps)
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Total Revenue
</td>
<td colspan="1" rowspan="1">
Ps. 12,316
</td>
<td colspan="1" rowspan="1">
100.0%
</td>
<td colspan="1" rowspan="1">
Ps. 9,416
</td>
<td colspan="1" rowspan="1">
100.0%
</td>
<td colspan="1" rowspan="1">
30.8%
</td>
<td colspan="1" rowspan="1">
N/A
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Gross Profit
</td>
<td colspan="1" rowspan="1">
Ps. 2,011
</td>
<td colspan="1" rowspan="1">
16.3%
</td>
<td colspan="1" rowspan="1">
Ps. 1,430
</td>
<td colspan="1" rowspan="1">
15.2%
</td>
<td colspan="1" rowspan="1">
40.6%
</td>
<td colspan="1" rowspan="1">
114 bps
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Sales Expenses
</td>
<td colspan="1" rowspan="1">
Ps. (1,392)
</td>
<td colspan="1" rowspan="1">
11.3%
</td>
<td colspan="1" rowspan="1">
Ps. (991)
</td>
<td colspan="1" rowspan="1">
10.5%
</td>
<td colspan="1" rowspan="1">
40.5%
</td>
<td colspan="1" rowspan="1">
78 bps
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Administrative Expenses
</td>
<td colspan="1" rowspan="1">
Ps. (354)
</td>
<td colspan="1" rowspan="1">
2.9%
</td>
<td colspan="1" rowspan="1">
Ps. (232)
</td>
<td colspan="1" rowspan="1">
2.5%
</td>
<td colspan="1" rowspan="1">
52.6%
</td>
<td colspan="1" rowspan="1">
41 bps
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Other (Expense) Income &ndash; Net
</td>
<td colspan="1" rowspan="1">
Ps. (37)
</td>
<td colspan="1" rowspan="1">
(0.3)%
</td>
<td colspan="1" rowspan="1">
Ps. 7
</td>
<td colspan="1" rowspan="1">
0.1%
</td>
<td colspan="1" rowspan="1">
n.m.
</td>
<td colspan="1" rowspan="1">
(38) bps
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
EBITDA
</td>
<td colspan="1" rowspan="1">
Ps. 559
</td>
<td colspan="1" rowspan="1">
4.5%
</td>
<td colspan="1" rowspan="1">
Ps. 421
</td>
<td colspan="1" rowspan="1">
4.5%
</td>
<td colspan="1" rowspan="1">
32.9%
</td>
<td colspan="1" rowspan="1">
7 bps
</td>
</tr>
</tbody>
</table>

TBBB

Tiendas 3B Q4 Revenue Ps. 12,316M Up From Ps. 9,416M YoY, EBITDA Ps. 559M Up From Ps. 421M YoY

Tesla Inc CEO Elon Musk on Thursday denied allegations that the use of cobalt in EVs is leading to <a href="https://www.benzinga.com/general/education/24/02/37288311/elon-musk-engages-with-racial-iq-content-on-x-while-facing-drug-allegations-tesla-stock-turmoil">human rights violations </a>including child labor. 
What Happened: Unlike cellphone and laptop batteries that use cobalt, most electric cars use none, Musk said. 
&#8220;Those that do use cobalt, use very little, as the cathode is primarily nickel, which performs better and costs less than cobalt,&#8221; Musk wrote.
He was responding to claims made by climate activist Clover Hogan that the demand for cobalt grows with the rise in demand for EVs. A majority of this cobalt is mined in Congo and leads to human rights abuses including child labor, she alleged. 
Hogan thinks that climate change cannot be resolved by tech solutions such as EVs. She instead recommends that cities be made less car-friendly. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Cell phone and laptop batteries use cobalt, but most electric cars use none. Those that do use cobalt, use very little, as the cathode is primarily nickel, which performs better and costs less than cobalt.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1783592081812009076?ref_src=twsrc%5Etfw">April 25, 2024</a></blockquote>
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Why It Matters: Musk has denied the heavy use of cobalt at Tesla going as far back as 2021. &#8220;On a weighted-average basis we might use 2% cobalt compared to say, Apple&#8217;s 100% cobalt,&#8221; <a href="https://www.benzinga.com/news/21/07/22256322/why-elon-musk-thinks-epic-is-right-in-its-fight-against-apple">Musk then said. </a>
In a shareholder meeting last May, Musk said that he would <a href="https://www.benzinga.com/news/23/05/32480648/elon-musk-says-he-will-personally-review-teslas-cobalt-supply-chain-audit-to-extend-consumer-trust">personally review the third-party audit</a> of its&nbsp;cobalt supply chain despite shareholders rejecting the proposal for a third-party audit. 
"We will do a third-party audit. In fact, we'll put a webcam on the mine and if anybody sees any children please let us know," Musk said.
"I recommend complaining to the phone manufacturers," the CEO added. "But even for the small amount of cobalt that we do use, we will make sure that no child labor is being exploited.&#8221;
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/mobility" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/04/38426856/gm-unveils-plans-for-autonomous-driving-unit-cruise-relaunch-after-hiatus-expects-1-7b-in-expenses">GM Unveils Plans For Autonomous Driving Unit Cruise Relaunch After Hiatus, Expects $1.7B In Expenses</a>

Tesla CEO Elon Musk Denies Human Rights Abuses In Most EV Battery Production: 'Those That Do...Use Very Little'

Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) is expected to release earnings results for its first quarter, before the <a href="https://www.benzinga.com/quote/PSX/earnings">opening bell on April 26, 2024.</a>
Analysts expect the Houston, Texas-based company to report quarterly earnings at $2.17 per share, down from $4.21 per share in the year-ago quarter. Phillips 66 is projected to report quarterly revenue of $33.08 billion, compared to $35.09 billion in the year-earlier quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On April 3, Phillips 66 announced an increase in quarterly dividend from $1.05 to $1.15 per share.
Phillips 66 shares fell 0.4% to close at $157.24 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/PSX/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Barclays analyst Theresa Chen maintained an Equal-Weight rating and increased the price target from $139 to $155 on April 18. This analyst has an accuracy rate of 82%.</li>
<li>Wells Fargo analyst Roger Read maintained an Overweight rating and raised the price target from $179 to $191 on April 8. This analyst has an accuracy rate of 74%.</li>
<li>Piper Sandler analyst Ryan Todd maintained an Overweight rating and increased the price target from $169 to $187 on April 5. This analyst has an accuracy rate of 78%.</li>
<li>JP Morgan analyst John Royall maintained an Overweight rating and boosted the price target from $149 to $167 on April 1. This analyst has an accuracy rate of 73%.</li>
<li>Goldman Sachs analyst Neil Mehta maintained a Buy rating and increased the price target from $152 to $174 on March 22. This analyst has an accuracy rate of 72%.</li>
</ul>
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Price Target

Phillips 66 Gears Up For Q1 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Affirming 2024 Earnings&nbsp;Guidance, Capital Plan and Long-Term EPS Growth
We are affirming 2024 diluted earnings&nbsp;guidance&nbsp;of&nbsp;$3.42&nbsp;-&nbsp;$3.62&nbsp;per diluted share and our&nbsp;$500 million&nbsp;capital plan. This&nbsp;guidance&nbsp;is based upon, but not limited to, the following major assumptions:
<ul>
<li>Normal weather in our service territories;</li>
<li>An effective income tax rate of approximately&nbsp;12%-14%; and</li>
<li>Diluted average shares outstanding of approximately 61.3 million.</li>
</ul>
We are also affirming our long-term (5 year) diluted earnings per share growth&nbsp;guidance&nbsp;of&nbsp;4%&nbsp;to&nbsp;6%&nbsp;from a 2022 base year of&nbsp;$3.18&nbsp;diluted earnings per share on a non-GAAP basis. We expect rate base growth of&nbsp;4%&nbsp;to&nbsp;6%. Our current capital investment program is sized to provide for no equity issuances. Future generation capacity additions or other strategic opportunities may require equity financing.

Guidance

NorthWestern Affirms 2024 Guidance: Sees EPS Of $3.42 - $3.62 Vs. $3.49 Consensus

2024&nbsp;Guidance&nbsp;Reaffirmed
The company&#39;s 2024 full-year&nbsp;guidance&nbsp;is reaffirmed and includes:
<ul>
<li>Net income per diluted common share of&nbsp;$2.68&nbsp;to&nbsp;$2.78; and,</li>
<li>Regulated infrastructure investments of approximately&nbsp;$332 million</li>
</ul>
In addition, we reiterate our non-linear long-term diluted EPS growth of&nbsp;5%&nbsp;to&nbsp;7%, anchored off 2022&#39;s diluted EPS of&nbsp;$2.43.
When considering the company&#39;s 2024&nbsp;guidance&nbsp;relative to actual results in 2023 of&nbsp;$2.68&nbsp;diluted EPS, it is important to note that the company&#39;s adjustment to income tax reserves in 2023 resulted in an increase of&nbsp;$0.14&nbsp;per diluted share.
Our&nbsp;guidance&nbsp;is subject to risks and uncertainties, including, without limitation, those factors outlined in the &quot;Forward Looking Statements&quot; of this release and the &quot;Risk Factors&quot; section of the company&#39;s annual and quarterly reports filed with the Securities and Exchange Commission.

SJW Group Reaffirmed 2024 Guidance: Sees EPS Of $2.68 To $2.78 Vs. $3.00 Consensus

ALCC

Reported Earlier, AltC Acquisition Corp. Schedules Special Meeting For Oklo Business Combination Approval

Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) is set to release earnings results for its first quarter before the <a href="https://www.benzinga.com/quote/XOM/earnings">opening bell on April 26, 2024</a>.
Analysts expect the Spring, Texas-based company to report quarterly earnings at $2.20 per share, down from $2.83 per share in the year-ago period. Exxon Mobil is projected to report quarterly revenue of $78.35 billion, up from $86.56 billion in the year-earlier quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Feb. 2, Exxon Mobil said fourth-quarter FY23 result adjusted net profit came in at $9.96 billion, or $2.48 per share, down from $14.04 billion, or $3.40 per share, a year earlier, beating the consensus of $2.21 per share.
Exxon Mobil shares rose 0.2% to close at $121.33 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/XOM/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Piper Sandler analyst Ryan Todd maintained an Overweight rating and raised the price target from $130 to $145 on April 18, 2024. This analyst has an accuracy rate of 78%.</li>
<li>UBS analyst Josh Silverstein maintained a Buy rating and boosted the price target from $133 to $150 on April 11, 2024. This analyst has an accuracy rate of 70%.</li>
<li>Wells Fargo analyst Roger Read maintained an Overweight rating and boosted the price target from $126 to $138 on April 4, 2024. This analyst has an accuracy rate of 74%.</li>
<li>TD Cowen analyst Jason Gabelman maintained a Buy rating and raised the price target from $115 to $120 on April 1, 2024. This analyst has an accuracy rate of 74%.</li>
<li>Redburn Atlantic analyst Peter Low upgraded the stock from Neutral to Buy and increased the price target from $116 to $119 on Jan. 9, 2024. This analyst has an accuracy rate of 75%.</li>
</ul>
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