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Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) reported quarterly earnings of $1.52 per share which beat the analyst consensus estimate of $1.41 by 7.8 percent. The company reported quarterly sales of $20.195 billion which missed the analyst consensus estimate of $20.408 billion by 1.04 percent. This is a 0.63 percent increase over sales of $20.068 billion the same period last year.

Earnings

Earnings Beats

Earnings Misses

News

Procter & Gamble Q3 2024 Core EPS $1.52 Beats $1.41 Estimate, Sales $20.195B Miss $20.408B Estimate

EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is recalling 3,878 Cybertruck vehicles over concerns of unintentional acceleration. 
What Happened: The company said in a filing with the U.S. auto safety regulator National Highway Traffic Safety Administration that the accelerator pedal pad on the affected vehicles may dislodge and become trapped by the interior trim above the pedal, thereby causing it to accelerate without the driver intending to. 
However, the vehicle will stop once the brake pedal is applied, the company explained. 
As for a solution, the company said it would replace or repair the accelerator pedal assembly, free of charge to the customer. 
Tesla said that it is not aware of any collisions or injuries relating to the pedal issue identified. The company is now equipping Cybertrucks in production with new accelerator pedals. Those vehicles in the process of delivery but yet to reach the customer will receive the remedy before it is handed over, it added.
Why It Matters: The recall likely impacts a whopping majority of the Cybertruck vehicles delivered by Tesla to date. 
Though Tesla does not give model-wise delivery numbers, automotive research company Kelley Blue Book pegs the number of Cybertrucks delivered in the first quarter <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38284745/teslas-cybertruck-outpaces-porsche-taycan-in-q1-despite-lagging-behind-fords-f-150-">at just 2,803 units</a>. The company started delivering the Cybertruck only on November 30. 
Earlier this week, The Wall Street Journal reported that the company had briefly <a href="https://www.benzinga.com/news/24/04/38278972/tesla-stock-falls-as-cybertruck-faces-unexpected-delays">halted Cybertruck deliveries</a>. The report also flagged potential issues with the pickup truck&#8217;s accelerator pedal. 
However, Musk took to X on Wednesday to clarify that the move was precautionary. 
&#8220;There were no injuries or accidents because of this. We are just being very cautious,&#8221; <a href="https://www.benzinga.com/news/24/04/38308138/just-being-very-cautious-says-elon-musk-as-tesla-reportedly-resumes-cybertruck-deliveries-after-brie">Musk wrote</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 More: <a href="https://www.benzinga.com/news/24/04/38285714/no-more-inventory-discounts-on-tesla-cars-as-ceo-elon-musk-says-sales-system-has-turned-complex-and" target="_blank" rel="noreferrer noopener">No More Inventory Discounts On Tesla Cars As CEO Elon Musk Says Sales System Has Turned ‘Complex And Inefficient&#8217;</a>
Photo via Shutterstock

Government

Regulations

Tech

TSLA

Tesla Recalls Over 3,800 Cybertrucks Citing Unintended Acceleration Risk

&quot;We foresee accelerating loan growth over the course of the year as new teams and expanded markets continue to see substantive opportunities in addition to our existing markets. We expect this growth momentum will carry through the year and into 2025, further supporting our revenue and profitability&nbsp;outlook,&quot; said&nbsp;CEO.

Guidance

HBAN

Huntington Bancshares Says Outlook For The Year Remains Unchanged As It Looks To Accelerate Organic Growth

DCFC

Trading Halt: Halt status updated at 6:55:00 AM ET: Quotation Resumption: News and Resumption Times

SLB (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) reported quarterly earnings of $0.75 per share which met the analyst consensus estimate. This is a 19.05 percent increase over earnings of $0.63 per share from the same period last year. The company reported quarterly sales of $8.707 billion which beat the analyst consensus estimate of $8.688 billion by 0.22 percent. This is a 12.55 percent increase over sales of $7.736 billion the same period last year.

SLB Q1 2024 Adj. EPS $0.75, Inline, Sales $8.707B Beat $8.688B Estimate

Outlook for the Quarter ending June 30, 2024 We expect revenue from our IT Services business segment to be in the range of $2,617 million to $2,670 million&#x2A;. This translates to sequential guidance of (-)1.5% to +0.5% in constant currency terms. &nbsp;

Wipro Expects Q1 IT Services Business Segment Revenue of  $2.617B-$2.670B Vs Total Revenue Consensus of $2.69B

Keybanc analyst Sophie Karp maintains Xcel Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XEL#NASDAQ">XEL</a>) with a Overweight and lowers the price target from $68 to $65.

Price Target

Analyst Ratings

Keybanc Maintains Overweight on Xcel Energy, Lowers Price Target to $65

Jefferies analyst Ashley Helgans downgrades Ulta Beauty (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) from Buy to Hold and lowers the price target from $585 to $438.

Downgrades

ULTA

Jefferies Downgrades Ulta Beauty to Hold, Lowers Price Target to $438

WIIM

Nordstrom shares are trading higher after the company formed a committee to evaluate interest in a going-private transaction.

Wipro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WIT#NYSE">WIT</a>) reported quarterly earnings of $0.07 per share which met the analyst consensus estimate. This is unchanged from the same period last year. The company reported quarterly sales of $2.67 billion which beat the analyst consensus estimate of $2.65 billion by 0.57 percent. This is a 5.56 percent decrease over sales of $2.82 billion the same period last year.

Wipro Q4 EPS $0.07, Inline, Sales $2.67B Beat $2.65B Estimate

U.S. stocks appear headed for another losing day, potentially marking a sixth consecutive session in the red for Wall Street. While index futures on Friday clawed back some earlier losses, sentiment remains fragile following Israel&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38328006/israel-reportedly-strikes-iran-syria-iraq-in-retaliation-for-missile-drone-attack" rel="noreferrer noopener">missile strikes on Iran</a>&nbsp;in response to drone attacks and as explosions were reported in Syria and Iraq.
Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), the first major tech company to report earnings, <a href="https://www.benzinga.com/news/earnings/24/04/38330086/netflix-stock-tumbles-analyst-says-streaming-giant-doing-everything-right-but-growth-factor-doesnt-" target="_blank" rel="noreferrer noopener">disappointed investors</a> with comments about ending membership guidance. Investors may also turn their attention to upcoming regional bank earnings reports. With commodities retreating from their initial spikes and bond yields falling, a potential reversal in sentiment remains in play despite the extended decline.
The session will also likely see volatility as options contracts tied to about $3 trillion in stocks, equity indexes, and exchange-traded funds <a href="https://www.marketwatch.com/livecoverage/stock-market-today-dow-futures-gain-as-netflix-earnings-eyed/card/options-tied-to-nearly-3-trillion-in-stocks-set-to-expire-on-friday-6OGifsplhRh8sVduKhbe" target="_blank" rel="noreferrer noopener">expire</a> on Friday.
 Futures Performance On Friday ( as of 6:20 a.m. EDT)
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.63%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.42%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.38%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.83%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Friday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.41% to $497.49,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) gained 0.67% to $420.58, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Session:
Stocks struggled to gain momentum on Thursday, remaining in a lackluster phase despite mostly positive economic data that pushed bond yields higher. The S&amp;P 500 saw its first losing streak of this length since late October, just before the current bull market began, while the Nasdaq experienced its longest negative run since January, per CNBC.
 Jobless claims came in below expectations, and Philadelphia&#8217;s regional manufacturing activity saw significant expansion, although the Conference Board&#8217;s leading economic index fell more than anticipated. Additionally, apprehension ahead of the tech reporting season contributed to overall market sentiment. However, sectors like consumer staples, communication services, and financials offered some support.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance In (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.52%</td>
<td>15,601.50</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.22%</td>
<td>5,011.12</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.06%</td>
<td>37,775.38</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.26%</td>
<td>1,942.96</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Fund manager Louis Navellier said the next two weeks are pivotal to the earnings season, with Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and&nbsp;Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) reporting next week, and Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) the week after and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) on May 22.&nbsp;
&#8220;These names have been driving earnings growth and their strength is necessary to mount further index growth due to their&nbsp;heavy weight in the indexes,&#8221; he said.
Another analyst flagged the possibility of a potential rebound in the coming months. Almanac Traders&#8217; Jeffrey Hirsch said when the first quarter fares well during a presidential election year, one can expect gains solid gains in the final seven months of the year.
&#8220;Big Election Year Q1s Dip April-May Before Gains Last 7 Months,&#8221; he said in a post, adding that 2024 was the third-best election year first quarter since 1950.
<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">Big Election Year Q1s Dip April-May Before Gains Last 7 Months. 2024 3rd best Election Q1 since 1950 tracking. Chop continues up ~2.5% April-Oct. Only 2 losses in the last 7 months of election years since 1950, 2000 &amp; 2008 (2024 Almanac page 80). <a href="https://t.co/thKL7tbYsu">pic.twitter.com/thKL7tbYsu</a>
&mdash; Jeffrey A. Hirsch (@AlmanacTrader) <a href="https://twitter.com/AlmanacTrader/status/1781017887869735077?ref_src=twsrc%5Etfw">April 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Upcoming Economic Data:</figcaption></figure>
Chicago Fed President Austan Goolsbee is scheduled to speak at 10:30 a.m. EDT.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>Netflix fell about 6%<a href="https://www.benzinga.com/premarket"> in premarket trading</a> following its quarterly results, while Intuitive Surgical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) gained over 1.50%.</li>
<li>Big techs such as Tesla, Nvidia, and Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) all retreated in premarket.</li>
<li>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) shares rose as cryptocurrencies gained ground on the geopolitical tensions.</li>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) gained over 9% after a Bloomberg report said Apollo Global Management Inc. and Sony Group Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) were considering a joint offer for the company.</li>
<li>American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>), Huntington Bancshares Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>), Regions Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>), Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) and Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) are among those <a href="https://www.benzinga.com/calendars/earnings">reporting earnings ahead of the market open.</a> </li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures, which spiked past the $86-a-barrel mark in early Asian hours following the Israeli attacks, have come notably off the level. At last check, a barrel of oil fetched a little over $82. Gold futures hit as high as $2,433 a troy ounce but has slipped back since then and traded below the $2,400 mark.
The 10-year note yield has pulled back the 4.60% level.
 Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rallied past the $65K mark, thanks to the uncertainty triggered by the geopolitical tension and the optimism ahead of the <a href="https://www.benzinga.com/money/what-is-bitcoin-halving">halving event</a>. It rose over 5.60% at the last check. The halving is expected to happen anytime between Friday and Saturday when 840,000 Bitcoins have been mined. Bitcoin tracking website Bitaps shows that 839,916 Bitcoins are currently in circulation. 
Most Asian markets fell sharply on Friday on the geopolitical tensions, led lower by the Japanese market. The Indian and the Malaysian markets bucked the downtrend. Parliamentary elections are underway in India to elect the next head of state, with the ruling coalition projected to win by opinion poll. 
European stocks traded moderately lower in early trading.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38329084/cathie-wood-sees-value-in-tesla-wreckage-as-ark-buys-13m-worth-of-ev-giants-stock-loads-up">Cathie Wood Sees Value In Tesla Wreckage As Ark Buys $13M Worth Of EV Giant&#8217;s Stock, Loads Up On Bitcoin And Ethereum ETFs</a>

Equities

Futures

Previews

Economics

Federal Reserve

Pre-Market Outlook

Markets

Movers

Trading Ideas

$BTC

AAPL

AMZN

COIN

FITB

GOOG

GOOGL

ISRG

NFLX

NVDA

PARA

Sony Group Corporation American Depositary Shares

SONY

Wall Street On Track For 6th Day Of Losses? Netflix, Geopolitical Tensions Drag Futures Down: Analyst Tells Why Next 2 Weeks Are Pivotal

Keybanc analyst Sophie Karp maintains CMS Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMS#NYSE">CMS</a>) with a Overweight and raises the price target from $65 to $66.

Keybanc Maintains Overweight on CMS Energy, Raises Price Target to $66

<a href="https://www.bloomberg.com/news/articles/2024-04-19/deutsche-bank-has-cut-dozens-in-asia-private-banking-overhaul?sref=y3YMCJ4e" title="https://www.bloomberg.com/news/articles/2024-04-19/deutsche-bank-has-cut-dozens-in-asia-private-banking-overhaul?sref=y3YMCJ4e">https://www.bloomberg.com/news/articles/2024-04-19/deutsche-bank-has-cut-dozens-in-asia-private-banking-overhaul?sref=y3YMCJ4e</a>

Bloomberg Reported Deutsche Bank Has Cut Dozens in Asia Private Banking Overhaul

Canaccord Genuity analyst Maria Ripps downgrades Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) from Buy to Hold and lowers the price target from $720 to $585.

Canaccord Genuity Downgrades Netflix to Hold, Lowers Price Target to $585

B of A Securities analyst David Barden maintains Crown Castle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>) with a Neutral and lowers the price target from $120 to $105.

B of A Securities Maintains Neutral on Crown Castle, Lowers Price Target to $105

Cohen & Steers shares are trading higher after it was announced the stock will join the S&P SmallCap 600.

B of A Securities analyst Andrew Didora maintains Alaska Air Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) with a Buy and raises the price target from $50 to $56.

B of A Securities Maintains Buy on Alaska Air Gr, Raises Price Target to $56

PARAA

Paramount shares are trading higher following reports suggesting Sony is in talks with Apollo to join a bid for the company.

B of A Securities analyst Ebrahim Poonawala maintains Synovus Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>) with a Buy and lowers the price target from $44 to $40.

B of A Securities Maintains Buy on Synovus Finl, Lowers Price Target to $40

Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) reported quarterly Adj earnings of $0.76 per share which beat the analyst consensus estimate of $0.70 by 8.57 percent. The company reported quarterly sales of $2.100 billion which beat the analyst consensus estimate of $2.086 billion by 0.68 percent. This is a 5.32 percent decrease over sales of $2.218 billion the same period last year.