Azul Stock (NYSE:AZUL), Trade Ideas

Azul

Azul SA is involved in the operation of regular and non-regular airline passenger services, cargo or mail, passenger charter, provision of maintenance and hangarage services for aircraft, engines, parts and pieces, aircraft acquisition and lease, development of frequent-flyer programs, development of related activities and equity holding in other companies. The Company considers that it has a single reportable segment which is air transport.

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MSP Recovery, Inc.  (NASDAQ: LIFW) shares jumped 104.5% to $0.1916.

Why Gorilla Technology Group Shares Are Trading Lower By 25%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

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Azul SA (NYSE: AZUL) joined other stocks making big moves on Wednesday.

Goldman Sachs: Azul Appears Poised For EBITDA Expansion After Stock Declined 35%

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VNET

U.S. stocks traded mostly higher on Wednesday. Here are some big stocks recording gains in today’s session.

Steelcase, Western Digital, Bausch Health And Other Big Stocks Moving Higher On Wednesday

Azul S.A. American Depositary Shares (each representing three preferred shares)

Azul SA

The latest GDP and inflation figures have sparked concerns among investors, hinting at a potential economic downturn worse than a recession.
What Happened: The U.S. economy&#8217;s first-quarter growth, at an annualized rate of 1.6%, fell significantly short of the anticipated 2.5%, according to the&nbsp;<a href="https://www.bea.gov/data/gdp/gross-domestic-product" target="_blank" rel="noreferrer noopener">Bureau of Economic Analysis</a>. This is also a decline from the 3.4% increase in the fourth quarter, <a href="https://www.businessinsider.in/policy/economy/news/the-us-economy-may-be-barrelling-towards-stagflation-an-outcome-worse-than-recession/articleshow/109603356.cms">reported</a> Business Insider.
&#8220;This was a worst of both worlds report – slower than expected growth, higher than expected inflation,&#8221; wrote David Donabedian, chief investment officer of CIBC Private Wealth US.
Simultaneously, consumer prices experienced a more significant than expected surge, constraining the Federal Reserve&#8216;s ability to take action. This combination of sluggish growth and rising prices is a classic indicator of stagflation, a scenario that is notoriously challenging to combat.
The last time the U.S. faced stagflation was in the 1970s, a period characterized by geopolitical tensions leading to an OPEC oil embargo and a subsequent surge in energy prices. This, combined with high government spending and the dollar&#8217;s detachment from gold, resulted in double-digit inflation and a tumbling economy.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38434513/us-growth-slows-in-q1-yet-inflation-acceleration-signals-stagflation-the-worst-poss?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">US Growth Slows In Q1, Yet Inflation Acceleration Signals Stagflation: &#8216;The Worst Possible Outcome For The Fed&#8217;</a>
Analysts are wary of parallels to this period, with JPMorgan&#8216;s Jamie Dimon warning of a potential return to the <a href="https://www.benzinga.com/general/24/04/38432014/bank-of-america-thinks-2024-is-starting-to-look-like-2015-but-in-reverse-while-jamie-dimon-warns-202">stagflationary 1970s</a>. Despite the current market optimism, the U.S. may be heading towards a similar economic scenario, especially with the recent surge in fiscal spending and potential inflation drivers like green industrialization and global remilitarization.
However, the likelihood of stagflation remains uncertain. Despite persistent high inflation, the market is still pricing in at least one rate cut this year, and demand conditions remain strong. The upcoming personal consumption expenditures report will provide a clearer picture of inflation&#8217;s trajectory and the Fed&#8217;s potential policy adjustments, according to Donabedian.
Why It Matters: The U.S. economy&#8217;s potential descent into stagflation comes amid a series of concerning economic indicators. The Federal Reserve&#8217;s decision to maintain <a href="https://www.benzinga.com/news/24/04/38425604/feds-high-interest-rate-policy-spurs-debate-over-economic-impact-this-is-the-path-of-a-potential-pro">high interest rates</a> throughout 2024 due to persistent inflation has raised questions about its impact on the economy. 
This decision has also sparked concerns about <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38109673/top-economist-flags-warning-signs-of-possible-recession-in-us-economy-it-certainly-">a potential recession</a>, as indicated by the Economic Cycle Research Institute&#8217;s Leading Economic Index, which has been on a downward trend for the past year.
Despite these warning signs, the U.S. economy is predicted to grow at a robust <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/04/38405106/us-economy-expected-to-grow-2-5-in-q1-not-a-hard-landing-and-hardly-a-soft-one">2.5% growth rate</a> in the first quarter of 2024, following a 3.4% growth in the last quarter of 2023. 
Read Next: <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38429782/us-economy-grows-1-6-in-q1-slightly-below-expectations-as-price-pressures-weigh-o?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">US Economy Grows 1.6% In Q1, Slightly Below Expectations As Price Pressures Weigh On Spending</a>
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Global

Economics

US Economy Faces 'Worst Of Both Worlds' As Stagflation Threat Looms Large

Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares extended their gains for the third consecutive session on Thursday, following the release of the electric vehicle maker&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp" rel="noreferrer noopener">quarterly results</a>.&nbsp;Gary Black&nbsp;of&nbsp;Future Fund&nbsp;shared his insights on the stock&#8217;s movement and the company&#8217;s future trajectory.
What Happened: According to Black, the 17.6% surge in Tesla&#8217;s stock post-earnings is attributed to the optimistic product outlook conveyed in the earnings report and confirmed by CEO&nbsp;Elon Musk&nbsp;during the earnings call.&nbsp;
&#8220;There is no other way to interpret this language than that TSLA is readying new more affordable models using both the&nbsp;next gen&nbsp;and existing manufacturing platforms for first production by 2025/1H,&#8221; the analyst said. This, according to the fund manager, is bullish since it points to the company expanding its total addressable market with more affordable compact vehicles to the mass segment by mid-2025.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock" rel="noreferrer noopener">Everything You Need To Know About Tesla Stock</a>
However, Black noted that Musk&#8217;s emphasis on Tesla&#8217;s commitment to autonomy has yet to resonate with institutional investors. The lack of discussion on the robotaxi opportunity since the earnings release suggests that investors remain cautious. 
Black pointed out that the minimal impact on Uber and Lyft shares indicates that investors may not perceive Tesla&#8217;s unsupervised ride-hailing as a significant threat to these companies. 
But he did not rule out narrative change on Aug. 8, when Tesla is scheduled to unveil robotaxis. &#8220;So far TSLA's continued focus on more affordable&nbsp;non-robotaxi&nbsp;vehicles seems to be what's important,&#8221; he said.
Why It Matters:&nbsp;Despite the stock rally, skepticism remains among some analysts.&nbsp;GLJ Research&#8216;s&nbsp;Gordon Johnson&nbsp;interpreted Tesla&#8217;s product roadmap language as indicating a&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38398667/tesla-bulls-praise-musks-q1-earnings-call-see-ev-giant-on-collision-course-with-ube" rel="noreferrer noopener">potential abandonment of the sub-$30K car</a>, with a shift towards cost-reduction strategies for existing models.&nbsp;
Concerns persist regarding Tesla&#8217;s core auto gross margin and significant free cash flow depletion, prompting cautious outlooks from analysts like&nbsp;Wedbush&#8216;s&nbsp;Daniel Ives.
Tesla ended Thursday&#8217;s session up 4.97% to $170.18, according to<a target="_blank" href="https://benzinga.grsm.io/lxquj26b2sag" rel="noreferrer noopener">&nbsp;Benzinga Pro data.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <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">Tesla Bull Says Elon Musk Delivered &#8216;Rip The Band-Aid Off&#8217; Q1 But Cautions This Could Derail Bullish Thesis</a>

Equities

TSLA

Tesla's Robotaxi Plan Hasn't Excited Investors, But Fund Manager Gary Black Says This Is What Matters More: 'No Other Way To Interpret This...'

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>
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 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Kaustubh Bagalkote</a> 
 
 
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 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
 create comprehensive and timely stories for you. 
 <a href="https://www.benzinga.com/topic/kaustubh-bagalkote" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
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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

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>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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>
Read This Next: <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>

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

Azul S.A. (AZUL) Q4 2023 Earnings Call Transcript

Barclays analyst Pablo Monsivais maintained a Hold rating on Azul SA (AZUL – Research Report) on March 28 and set a price target of $12.00. The com...

Barclays Keeps Their Hold Rating on Azul SA (AZUL)

Analysts have been eager to weigh in on the Industrial Goods sector with new ratings on Trinity Industries (TRN – Research Report), CH Robinson (CH...

Analysts Offer Insights on Industrial Goods Companies: Trinity Industries (TRN), CH Robinson (CHRW) and Azul SA (AZUL)

In a report released today, Daniel Mckenzie from Seaport Global maintained a Buy rating on Azul SA (AZUL – Research Report), with a price target of...

Seaport Global Keeps Their Buy Rating on Azul SA (AZUL)

Azul Is Still A Hold Despite The Lower Price And Gol's Bankruptcy

Global airline stocks trade lower as investors brace for earnings

Analysts have been eager to weigh in on the Industrial Goods sector with new ratings on Boeing (BA – Research Report), Dover (DOV – Research Report...

Analysts' Opinions Are Mixed on These Industrial Goods Stocks: Boeing (BA), Dover (DOV) and Azul SA (AZUL)

Azul in talks to obtain controlling interest in Gol, downgraded at BofA - report

Azul in talks to obtain a controlling interest in Gol, downgraded at BofA - report

Warning: AZUL is at high risk of performing badly

AFLYY

CHRW

ICAGY

JBLU

JETS

LTMAY

RYAAY

ULCC

VLRS

Offerings

Press Releases

Azul Announces Expiration and Final Results of Previously Announced Exchange Offers of Certain Existing Notes for New Notes and the Solicitations of Consents to Proposed Amendments to the Existing Indentures

Azul Announces the Launch of a Mandatory Repurchase Offer to Purchase up to U.S.$55,900,850 in Aggregate Principal Amount of its Outstanding 11.500% Senior Secured Second Out Notes due 2029

Azul Announces the Results of its Mandatory Repurchase Offer to Purchase up to U.S.$55,900,850 in Aggregate Principal Amount of its Outstanding 11.500% Senior Secured Second Out Notes due 2029

Azul and Navitaire Renew Partnership

Surf Air Mobility and Azul Conecta Enter Agreement to Incorporate Electric Powertrains into Azul's Cessna Caravan Fleet

Azul is included in B3's Corporate Sustainability Index (ISE B3) for Third Consecutive Year

Azul Airlines and Silver Airways announce a codeshare agreement for flights between Brazil and the United States

Azul is once again recognized by its Successful Capital Optimization Plan concluded in 2023

Azul TecOps Gains EASA Approval for Maintenance Services of European Union-Registered Aircraft

Azul's technical team is two-time champion in maintenance tournament in the United States

SRFM

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