Lemonade Stock (NYSE:LMND), Trade Ideas

Lemonade

Lemonade Inc operates in the insurance industry. The company offers digital and artificial intelligence based platform for various insurances and for settling claims and paying premiums. The platform ensures transparency in issuing policies and settling disputes. The company is using technology, data, artificial intelligence, contemporary design, and social impact to deliver delightful and affordable insurances. Geographically, it operates in California, Texas, New York, New Jersey, Illinois, Georgia, Washington, Colorado, Pennsylvania, Oregon and others.

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Shares of  Bumble Inc. (NASDAQ: BMBL) fell sharply during Wednesday’s session following weak quarterly results.

Why Bumble Shares Are Trading Lower By 12%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

Pre-Market Outlook

ALBT

GENE

KORE

Shares of  Beyond Meat, Inc.  (NASDAQ: BYND) rose sharply in today’s pre-market trading as the company reported stronger-than-expected sales for its fourth quarter.

Why Beyond Meat Shares Are Trading Higher By Around 56%; Here Are 20 Stocks Moving Premarket

ROOT

U.S. stock futures were lower this morning, with the Dow futures trading lower by around 100 points on Wednesday.

3D Systems Posts Downbeat Q4 Results, Joins Eventbrite, Lemonade And Other Big Stocks Moving Lower In Wednesday&#39;s Pre-Market Session

Lemonade Inc

Needham analyst Ami Fadia reiterates Blueprint Medicines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPMC#NASDAQ">BPMC</a>) with a Buy and maintains $97 price target.

Price Target

Reiteration

Analyst Ratings

BPMC

Needham Reiterates Buy on Blueprint Medicines, Maintains $97 Price Target

HC Wainwright &amp; Co. analyst Joseph Pantginis reiterates Lisata Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSTA#NASDAQ">LSTA</a>) with a Buy and maintains $15 price target.

LSTA

HC Wainwright & Co. Reiterates Buy on Lisata Therapeutics, Maintains $15 Price Target

Needham analyst Ami Fadia reiterates Sage Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) with a Hold.

SAGE

Needham Reiterates Hold on Sage Therapeutics

Wedbush's Dan Ives praised Microsoft Corp.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) performance after the company reported its <a href="https://www.benzinga.com/news/earnings/24/04/38444199/microsoft-q3-earnings-revenue-beat-eps-beat-new-era-of-ai-transformation-and-more">March 2024 quarter earnings</a> and beat revenue and earnings per share (EPS) estimates.
What Happened: Ives praised Microsoft CEO Satya Nadella for the company&#8217;s performance in the AI and cloud computing space.
Ives compared Nadella to a &#8220;grandmaster chess player&#8221; and lauded Microsoft&#8217;s Azure cloud platform for its growth in the AI sector. He also referred to the current state of AI as a &#8220;1995 Moment,&#8221; indicating a significant turning point in the industry.
See Also: <a href="https://www.benzinga.com/news/earnings/24/04/38452338/microsoft-alphabet-and-3-stocks-to-watch-heading-into-friday">Microsoft, Alphabet And 3 Stocks To Watch Heading Into Friday</a>
&#8220;For Nadella the grandmaster chess player another Picasso-like performance for Microsoft as Azure is firing on all cylinders and the AI Revolution plays out in front of our eyes. Our #1 AI Draft pick Microsoft hitting its next gear of growth."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">For Nadella the grandmaster chess player another Picasso-like performance for Microsoft as Azure is firing on all cylinders and the AI Revolution &#x1f525; plays out in front of our eyes. Our #1 AI Draft pick Microsoft hitting its next gear of growth. $500 PT &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f;&#x1f576;&#xFE0F;. 1995 Moment &#x1f525;
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1783767713984164164?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Ives reiterated a price target of $500 for Microsoft stock, which is currently up 4.25% in premarket trading on Friday, at $416, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
"Another historic night for Big Tech as the AI Revolution and this 1995 Moment is now here," Ives added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Another historic night for Big Tech as the AI Revolution and this 1995 Moment is now here <a href="https://twitter.com/CNBCClosingBell?ref_src=twsrc%5Etfw">@CNBCClosingBell</a> &#x1f525;&#x1f447; <a href="https://t.co/rN1kF6p9ZF">https://t.co/rN1kF6p9ZF</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1783756944735371304?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: Ives&#8217; comments come in the wake of Microsoft&#8217;s strong performance in the AI and cloud computing sector. During the third-quarter earnings call, Nadella <a href="https://www.benzinga.com/news/24/04/38450786/satya-nadella-says-azure-search-also-used-by-chatgpt-is-one-of-the-fastest-growing-services-for-micr">highlighted the strong demand for Azure</a>, particularly in the field of AI, which has significantly contributed to acquiring new customers.
Microsoft&#8217;s third-quarter revenue increased 17% year-over-year to $61.9 billion, which beat the consensus estimate of $60.804 billion. The tech giant reported quarterly earnings of $2.94 per share, which beat analyst estimates of $2.82 per share.
During the post-earnings call, <a href="https://www.benzinga.com/general/gaming/24/04/38451061/microsoft-ceo-satya-nadella-highlights-record-breaking-gaming-performance-expansion-to-nintendo-sw">Nadella also revealed</a> that Microsoft had set new records for game streaming hours, console usage, and monthly active devices.
Price Action: Microsoft's shares were up 4.25% in premarket trading on Friday, after closing at $399.04 on the previous day, according to Benzinga Pro.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/04/38426370/mark-zuckerberg-says-tens-of-millions-users-have-already-tried-meta-ai-and-people-are-asking-us-to-r">Mark Zuckerberg Says &#8216;Tens Of Millions&#8217; Users Have Already Tried Meta AI, And People Are &#8216;Asking Us To Release&#8230;Wherever They Are&#8217;</a>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Analyst Color

Equities

Tech

MSFT

'Another Picasso-Like Performance:' Top Tech Analyst Praises Satya Nadella, Says Microsoft Is Top 'AI Draft Pick' With 20% Rally In Store

2024 Earnings&nbsp;Guidance
PGE is reaffirming its estimate for full-year 2024 adjusted earnings&nbsp;guidance&nbsp;of&nbsp;$2.98&nbsp;to&nbsp;$3.18&nbsp;per diluted share based on the following assumptions:
<ul>
<li>Exclusion of the impacts of the&nbsp;January 2024&nbsp;winter storm, including non-deferrable Reliability Contingency Event (RCE) costs and non-deferred incremental storm restoration costs;</li>
<li>An increase in energy deliveries of&nbsp;2%&nbsp;to&nbsp;3%, weather adjusted;</li>
<li>Normal temperatures in its utility service territory;</li>
<li>Hydro conditions for the year that reflect current estimates;</li>
<li>Wind generation based on five years of historical levels or forecast studies when historical data is not available;</li>
<li>Normal thermal plant operations;</li>
<li>Operating and maintenance expense between&nbsp;$815 million&nbsp;and&nbsp;$840 million&nbsp;which includes approximately&nbsp;$165 million&nbsp;of wildfire, vegetation management, deferral amortization and other expenses that are offset in other income statement lines;</li>
<li>Depreciation and amortization expense between&nbsp;$475 million&nbsp;and&nbsp;$525 million;</li>
<li>Effective tax rate of&nbsp;10%&nbsp;to&nbsp;15%;</li>
<li>Cash from operations of&nbsp;$700&nbsp;to&nbsp;$800 million;</li>
<li>Capital expenditures of&nbsp;$1,340&nbsp;million; and</li>
<li>Average construction work in progress balance of&nbsp;$795 million.</li>
</ul>

Earnings

Guidance

Portland General Electric Reaffirms Its 2024 Guidance: Sees Adjusted EPS Of $2.98-$3.18 Vs. $3.07 Consensus, And Cash From Operations Of $700M-$800M

Portland Gen Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/POR#NYSE">POR</a>) reported quarterly earnings of $1.21 per share which beat the analyst consensus estimate of $1.09 by 11.01 percent. This is a 51.25 percent increase over earnings of $0.80 per share from the same period last year. The company reported quarterly sales of $940.000 million which beat the analyst consensus estimate of $828.972 million by 13.39 percent. This is a 26.17 percent increase over sales of $745.000 million the same period last year.

Earnings Beats

Portland Gen Electric Q1 2024 Adj EPS $1.21 Beats $1.09 Estimate, Sales $940.000M Beat $828.972M Estimate

Eric Melis, VP of Global Brand Marketing, Carbonated Soft Drinks at PepsiCo,&nbsp;said: &quot;Jack is renowned worldwide for his incredible football skills and the enjoyment he takes from the game. We celebrate those who personify our attitude on and off the pitch and can&#39;t wait for him to support us in bringing more enjoyment to football fans around the world as part of the Pepsi family.&quot;

PepsiCo Signs Football Star Jack Grealish As Global Brand Ambassador In Multi-year Partnership

TotalEnergies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) reported quarterly earnings of $2.14 per share which beat the analyst consensus estimate of $2.06 by 3.88 percent. The company reported $56.278 in sales this quarter. This is a 100.00 percent decrease over sales of $62.603 billion the same period last year.

TotalEnergies Q1 2024 Adj EPS $2.14 Beats $2.06 Estimate, Sales $56.278 Down From $62.603B YoY

<div>Underlying sales growth excluding OPM1&nbsp;and Strategic Review2&nbsp;of&nbsp;3%.</div>
<div>Strong operational progress in all divisions and continued execution momentum across our 2024 strategic priorities.</div>
<div>Continuing to infuse our products with AI and on-track to include AI features in more than 40 Higher Education titles for the Fall semester.</div>
<div>Initial &pound;300m share buyback completed; the previously announced &pound;200m buyback extension has commenced.</div>

Pearson Says It Will See Q1 Underlying Sales Growth Excluding OPM And Strategic Review Of 3%; On Track To Achieve 2024 Guidance With Expected Momentum For 2H

Car rental company&nbsp;Hertz Global Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) is now looking to remove 30,000 electric vehicles from its fleet, significantly higher than the number announced earlier this year.
What Happened: Earlier this year, Hertz announced that it is <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36606533/tesla-bulls-at-odds-after-hertzs-ev-selloff-blow-for-musks-company-or-black-eye-mom">looking to reduce its EV fleet by 20,000 units</a> through 2024, citing high repair costs as the driving factor. However, at the company&#8217;s first-quarter earnings call on Thursday, company COO Justin Keppy said that it has increased the EV disposal plan by another 10,000 units. 
As of the end of the first quarter, the company had already sold about 10,000 EVs, he said, on which it incurred vehicle depreciation costs of $195 million. 
&#8220;Upon completion, we anticipate that the remaining EV fleet will be better aligned with attractive demand for EVs with a priority on our rideshare business,&#8221; Keppy said.
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38107547/hertzs-mega-tesla-gamble-backfired-due-to-sky-high-repair-costs-unusually-high-accident-rates-an" target="_blank" rel="noreferrer noopener">Hertz&#8217;s Mega Tesla Gamble Backfired Due To Sky-High Repair Costs, Unusually High Accident Rates And Customers&#8217; Charging Anxiety</a> 
The decision to further reduce EVs within the fleet will help it align better with demand and lower operating costs, Keppy said. The company expects to see the benefits of reducing EVs from the fleet in the second half and for EVs deployed outside of rideshare to comprise just about 5% of its global fleet as of the end of 2024.
Why It Matters: <a href="https://www.benzinga.com/markets/equities/24/04/38434391/struggle-for-hertz-continues-as-stock-loses-23-heres-why">Hertz on Thursday reported</a> an adjusted loss of $1.28 per share, much higher than the analyst consensus estimate of a loss of 44 cents. 
"Fleet and direct operating costs weighed on this quarter's performance," said CEO Gil West. "We're tackling both issues – getting to the right supply of vehicles at an acceptable capital cost while at the same time driving productivity up and operating costs down."
Price Action: Hertz stock closed down 19.3% at $4.68 per share, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a> The stock is down 54.1% year-to-date. 
Check out more of Benzinga'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: <a href="https://www.benzinga.com/news/24/04/38452299/tesla-ceo-elon-musk-denies-human-rights-abuses-in-most-ev-battery-production-those-that-do-use-very">Tesla CEO Elon Musk Denies Human Rights Abuses In Most EV Battery Production: &#8216;Those That Do&#8230;Use Very Little&#8217;</a>
Photo by EQRoy on Shutterstock

Another Blow To Tesla? Hertz's EV Disposal Plan Jumps By 10K As Car-Rental Company Aims For 95% Gas-Powered Fleet By Year-End

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>
Image Via Shutterstock 
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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&nbsp;robotaxi&nbsp;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.&nbsp;
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>
Image generated using AI on Adobe Shutterstock

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>
Image Via Shutterstock 
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 Benzinga Neuro, Edited by 
 
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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

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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.

OVBC

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

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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

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

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It seems like you can&rsquo;t get very far these days without hearing or seeing the word AI. Artificial Intelligence, or AI, has seen explosive growth as of late. Its evolution has currently brought up many concerns about its speed of expansion and the potential elimination of much of the world&rsquo;s labor force. Although many have called it the AI bubble for stocks, there is good reason to believe that this technology will truly change the world forever.&nbsp;



Many of the world&rsquo;s smartest minds have called AI the next big technology and a moment akin to the introduction of the internet. So as investors, how can we take advantage of this technological revolution? Hey, we might all be doomed anyway once the machine uprising takes place. Until then, here are three <a href="https://investorplace.com/industries/technology/artificial-intelligence/">AI stocks</a> to own in every growth portfolio.&nbsp;



<h2>Tesla (TSLA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/06/tsla1600-8-300x169.png" alt="Tesla (TSLA) supercharging station during the day."><div>Source: Arina P Habich / Shutterstock.com</div></div>Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) is an American multinational electric vehicle maker and energy company. TSLA is easily one of the most polarizing stocks on the market. This is evident in the wide range of analyst <a href="https://finance.yahoo.com/quote/TSLA/analysis">price targets</a> which range from $24.00 to $320.00 per share. The average price target is $190.34, about 15% higher than the current price.&nbsp;



If you believe that Tesla is a tech company, then you will be excited by its AI prospects. Tesla is preparing to release its <a href="https://www.autoevolution.com/news/tesla-optimus-bot-to-start-production-in-2025-musk-makes-creepy-westworld-analogy-228198.html#:~:text=Currently%2C%20the%20company%20is%20hiring,as%20soon%20as%20next%20year.">Optimius</a> humanoid robot sometime around 2026. The company also continues to release new versions of its FSD technology for self-driving cars. Finally, CEO Elon Musk announced that its robo-taxis will be unveiled later this year in August. Tesla could be an AI leader when all is said and done.&nbsp;



Tesla often gets criticized for its high price multiples. Even after losing 33% in 2024, the stock still trades at <a href="https://finance.yahoo.com/quote/TSLA/key-statistics">54x forward earnings.</a> Nonetheless, on a brighter note, TSLA is now trading at just below six times its sales. If you&rsquo;re bullish, you&rsquo;ll like that Tesla is trading at close to its cheapest valuations ever, even without the realization of its AI products yet.



<h2>Microsoft (MSFT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/10/msft1600-1-300x169.png" alt="Microsoft logo close up. Microsoft (MSFT) Flagship Store Fifth Avenue, Manhattan, NYC."><div>Source: The Art of Pics / Shutterstock.com</div></div>After overtaking Apple (NASDAQ:<a href="https://investorplace.com/stock-quotes/aapl-stock-quote/">AAPL</a>) earlier this year, Microsoft (NASDAQ:<a href="https://investorplace.com/stock-quotes/msft-stock-quote/">MSFT</a>) now sits as the largest company in the world by market capitalization. Yet, even after hitting a market cap of nearly $3.2 trillion, the stock is still trading relatively fairly compared to its analyst high <a href="https://finance.yahoo.com/quote/MSFT/analysis">price target</a> of about $507. 



Early on in the AI race, Microsoft made the biggest splash by taking a 10% stake in GPT creator OpenAI. This stake can be as high as 49% depending on how OpenAI performs. Microsoft was quick to integrate <a href="https://azure.microsoft.com/en-us/products/ai-services/openai-service">OpenAI capabilities</a> into many of Microsoft&rsquo;s products and services. With more than 72% of the world&rsquo;s computers using Windows, Microsoft has taken a clear lead in the AI software sector.



Compared to other Magnificient 7 stocks, Microsoft trades at quite a premium. MSFT currently trades at nearly <a href="https://finance.yahoo.com/quote/MSFT/key-statistics">32x forward earnings</a> and nearly 14x sales. Given how wide of a moat Microsoft has and how large its market share of operating systems is, these premiums shouldn&rsquo;t bother any Microsoft bulls who hold the stock for the long term.&nbsp;



<h2>Lemonade (LMND)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/09/lmnd1600-300x169.jpg" alt="Lemonade stock logo displayed on smartphone laying on top of computer keyboard."><div>Source: Stephanie L Sanchez / Shutterstock.com</div></div>Lemonade (NYSE:<a href="https://investorplace.com/stock-quotes/lmnd-stock-quote/">LMND</a>) is an American insurance technology company that was founded in 2015. Its average price target sits at <a href="https://finance.yahoo.com/quote/LMND/analysis">$19.25</a>, about 14% higher than the current price.&nbsp;



This innovative company caught on during the pandemic when in-person services were widely reduced. Lemonade allowed customers to shop around and apply for insurance applicable to renters, homeowners, pets, auto and life. The company processes more than half its insurance claims by using AI via complex algorithms. By keeping much of the manual labor and human emotion out of the process, Lemonade&rsquo;s AI advancements have allowed it to offer cheaper rates and a higher approval rate.&nbsp;



While Lemonade is not yet a profitable company, it has consistently grown its revenue. Over the past five years, <a href="https://www.alphaspread.com/security/nyse/lmnd/financials/income-statement/revenue">revenue</a> has grown at a compound annual growth rate (CAGR) of 50%. Even still, the stock only trades at <a href="https://finance.yahoo.com/quote/LMND/key-statistics">2.7x</a> sales which likely means the stock price has some catching up to do if revenue continues to grow at its recent pace.&nbsp;



On the date of publication, Ian Hartana and Vayun Chugh did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Chandler Capital is the work of Ian Hartana and Vayun Chugh. 

Ian Hartana and Vayun Chugh are both self-taught investors whose work has been featured in Seeking Alpha. Their research primarily revolves around GARP stocks with a long-term investment perspective encompassing diverse sectors such as technology, energy, and healthcare.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/robot-overlords-3-ai-stocks-to-own-before-the-machine-uprising/">Robot Overlords: 3 AI Stocks to Own Before the Machine Uprising</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.