Oxford Square Capital Corp. - 5.50% Notes due 2028 Stock (NASDAQ: OXSQG)

Oxford Square Capital Corp. - 5.50% Notes due 2028 Stock (NASDAQ:OXSQG), Trade Ideas

Oxford Square Capital Corp. - 5.50% Notes due 2028

General Motors Company&nbsp;(NYSE:&nbsp;GM) reported a fiscal first-quarter 2024 sales growth of 7.6% year-on-year to $43.01 billion, beating the analyst&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38374297/gm-releases-2024-first-quarter-results-and-raises-full-year-guidance" rel="noreferrer noopener">consensus estimate of $41.88 billion</a>.
Adjusted EPS of $2.62 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus estimate of $2.14</a>. The&nbsp;stock price climbed after the results.
GM's market share reached 8.1% for the quarter, compared to&nbsp;8.7% a year ago. In the U.S., the share changed to 15.4%, down from 16.4%.&nbsp;Its share in China reached 7.9%, down from 9.1% a year earlier.
GM's North American operations, backed by truck sales, mainly contributed to its first-quarter beat and guidance raise, CNBC&nbsp;<a target="_blank" href="https://www.cnbc.com/2024/04/23/general-motors-gm-earnings-q1-2024.html" rel="noreferrer noopener">cites</a>&nbsp;the automaker.&nbsp;
Steady vehicle pricing and&nbsp;higher retail sales&nbsp;in North America also helped GM accomplish a 10.6% adjusted profit margin in the region for the period – above its&nbsp;previously&nbsp;announced 8% to 10% range.
Adjusted EBIT for the quarter improved by 1.8% to $3.87 billion, with an adjusted EBIT margin of 9.0%, down by 50 bps. Net income margin was 6.9% versus 6.0% a year ago.
GM CFO Paul Jacobson said automaker's vehicle prices were flat to slightly lower due to vehicle mix during the quarter. He said&nbsp;the company still plans to produce 200,000 &#8211; 300,000 EVs in 2024.
The company held $25.5 billion in cash and equivalents as of March 31, 2024. The adjusted automotive free cash flow was $1.09 billion.
FY24 Guidance:&nbsp;General Motors projects adjusted EPS of $9.00 &#8211; $10.00 (<a target="_blank" href="https://www.benzinga.com/news/earnings/24/01/36842639/general-motors-vrooms-past-q4-street-expectations-expects-us-ev-business-to-take-off-from-second-ha" rel="noreferrer noopener">prior $8.50 – $9.50</a>) versus&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of $9.08</a>.&nbsp;
The company projects adjusted automotive free cash flow of $8.5 billion—$10.5&nbsp;billion (prior $8.0 billion—$10.0 billion) and reiterated capital spending of $10.5 billion—$11.5&nbsp;billion.
In the company conference call, General Motors CFO said the company expects to return to profit in China in the second quarter.
General Motors stock gained over 26% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust Nasdaq Transportation ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXR#NASDAQ">FTXR</a>) and&nbsp;Invesco S&amp;P 500 Pure Value ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPV#NYSE">RPV</a>).
Price Action:&nbsp;GM shares are&nbsp;trading higher by 5.05% at $45.39 in&nbsp;premarket at the last check Tuesday.

Earnings

News

Guidance

Movers

Media

FTXR

General Motors Q1 Earnings Surprise: North America Growth, Rising Profit Margin And Annual Guidance Boost

General

NRXS

NeurAxis Announces New Medical Policy Coverage In North Dakota

Halliburton Expects 2024 Revenue Growth In The Low Double Digits

FCNCA

First Citizens Bank Announced That Its Healthcare Finance Business Provided $58.4M In Financing To Anchor Health Properties For The Construction Of A 92-bed Inpatient Rehabilitation Facility In Miami, Florida

MNDR

Mobile-Health Network and Lifepack Partner To Improve Healthcare Accessibility In Indonesia

Keefe, Bruyette &amp; Woods analyst Kelly Motta maintains MetroCity Bankshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCBS#NASDAQ">MCBS</a>) with a Market Perform and raises the price target from $27 to $28.

Price Target

Analyst Ratings

METROCITY BANKSHARES INC by MetroCity Bankshares Inc.

MCBS

Keefe, Bruyette & Woods Maintains Market Perform on MetroCity Bankshares, Raises Price Target to $28

TMUS

T-Mobile Rolls Out Two New Internet Plans To Give Customers Enhanced Options For Home And On The Go

Well-known hedge fund manager Anthony Scaramucci discussed his views on Bitcoin going forward, why he likes the token and a potential price target during an interview on <a href="https://www.youtube.com/watch?v=-mc9-NzBOjk&amp;t=1s">CNBC</a>.&nbsp;&nbsp;
Scaramucci has a long history in the financial sector, starting his career at Goldman Sachs before founding multiple hedge funds and even serving a short stint as the White House communications director. He is a known advocate for <a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment/">Bitcoin (BTC)</a>.
Don't Miss:
<ul>
<li>Dogecoin millionaires are increasing <a href="https://www.benzinga.com/money/dogecoin-millionaires-adv">— investors with $1M+ in DOGE revealed!</a></li>
<li>Bitcoin has jumped another 45% already this year &#8211;<a href="https://www.benzinga.com/money/kraken"> how much would you need to get started today?</a></li>
</ul>
In the interview, Scaramucci said that he likes Bitcoin from a technical point of view.
"It's decentralized in a way that makes it very powerful. The network itself is scaling," he said. "If you think about the way we treat money in our society over the last 5,000 years, Bitcoin checks all of the boxes. The only box it doesn't check is central bank manipulation, which I think makes it way more powerful."&nbsp;
Scaramucci is an advocate for the technology behind Bitcoin, which has not yet been adopted by enough people to fully realize its potential.
"Bitcoin is on an adoption curve. If you go back to Web1, Bitcoin is sort of in the 1999 point in the spectrum. â€¦ It won't be an inflation hedge or a store of value — until you get over a billion users," he said. 
According to Scaramucci, Bitcoin is on the cusp of a massive wave of adoption. However, he does not believe that the adoption will be large enough to reduce the volatility of Bitcoin.&nbsp;
Trending: If you invested $100 in DOGE when Elon Musk first tweeted about it in 2019,<a href="https://www.benzinga.com/money/etoro-doge"> here&#8217;s how much you&#8217;d have today</a>.
In terms of price targets, he said, "You could have 10% to 15% downside just because it is still a risk-on/risk-off asset. But long-term, I think this thing trades to $170,000, probably to $200,000, and that's consistent with where it's been over the 15 years of Bitcoin."&nbsp;
When asked about the potential for a Bitcoin crash, which was brought up after the comparison of Bitcoin to Web1.0 in 1999, Scaramucci said, "If you are willing to hold that asset, which we are, over a rolling four-year period of time, no one has ever lost money in Bitcoin."&nbsp;
Scaramucci noted that Bitcoin is still relatively young, and he believes there is still strong upside potential in the future if you can stomach the ups and downs for several years or more.&nbsp;
To end the interview, Scaramucci said that he and his team believe that Bitcoin can surpass the market capitalization of gold. The total amount of above-ground gold reserves is valued at around $16 trillion. So, if Scaramucci is correct and Bitcoin reaches a market cap of $16 trillion, a single BTC could be worth more than $800,000. This is an increase of over 1,100%.&nbsp;
Read Next:
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<li>About 22% of the adult population in the U.S. own a share of Bitcoin,<a href="https://www.benzinga.com/money/kraken"> how much would $10 get you today</a>?</li>
<li>The<a href="https://www.benzinga.com/money/kraken-2"> last-standing top crypto exchange without a major security breach</a> offers what now?</li>
</ul>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

Bitcoin's Market Cap Will Eclipse $16T, $800K Per BTC, Says Skybridge Capital's Anthony Scaramucci

WIIM

Invesco shares are trading lower following worse-than-expected Q1 financial results.

Contracts

Flowserve Announced That It Received Two Significant Middle East Project Awards For A Collective Value Of Over $150M

The Court will take that recommendation under advisement and will rule on the final number after briefing on the issues in the matter of BlueRadios, Inc. v. Kopin Corporation, Inc.
&nbsp;
"We are very disappointed in the outcome and do not believe the findings were justified by the facts presented," said Michael Murray, Kopin's Chief Executive Officer. "We are reviewing our options at this time, including an appeal of any judgment that is ultimately entered by the Court."

Legal

KOPN

Jury Verdict Entered In U.S. District Court For BlueRadios And Awarding ~$5.1M In Damages; Recommends $19.7M In Disgorgement And Exemplary Damages

Cohere Health And Humana Expand Prior Authorization Partnership, Adding Diagnostic Imaging And Sleep Services

HYPR

Hyperfine Announced The Acceptance Of Seventeen Ultra-low-field MRI-related Abstracts To Be Presented At The 2024 International Society For Magnetic Resonance In Medicine Annual Meeting In Singapore

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell maintains Lakeland Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LBAI#NASDAQ">LBAI</a>) with a Market Perform and lowers the price target from $16.65 to $14.15.

LBAI

Keefe, Bruyette & Woods Maintains Market Perform on Lakeland Bancorp, Lowers Price Target to $14.15

Lockheed Martin shares are trading higher after the company reported better-than-expected Q1 financial results.

<a href="https://www.wsj.com/tech/ai/ai-developers-agree-to-new-safety-measures-to-fight-child-exploitation-2a58129c?mod=latest_headlines" title="https://www.wsj.com/tech/ai/ai-developers-agree-to-new-safety-measures-to-fight-child-exploitation-2a58129c?mod=latest_headlines">https://www.wsj.com/tech/ai/ai-developers-agree-to-new-safety-measures-to-fight-child-exploitation-2a58129c?mod=latest_headlines</a>

GOOG

GOOGL

'AI Developers Agree To New Safety Measures To Fight Child Exploitation' - Wall Street Journal

Penumbra Announced The US Food And Drug Administration Clearance And Launch Of Lightning Flash 2.0 Designed To Rapidly Remove Blood Clots

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2024/04/22/final-trades-goldman-sachs-sl-green-and-taiwan-semi.html">Halftime Report Final Trades</a>,&#8221; Stephen Weiss of Short Hills Capital Partners said Taiwan Semiconductor Manufacturing Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) is <a href="https://www.benzinga.com/24/04/38362650/tsmc-topped-estimates-on-the-back-of-insatiable-ai-demand">oversold and cheap</a>.
On April 18, Taiwan Semiconductor Manufacturing exceeded first-quarter financial expectations. The company's revenue surged 16.5% to $18.87 billion, surpassing the Street consensus estimate of $18.40 billion, while net income increased by 8.9% to $6.97 billion.
Jenny Van Leeuwen Harrington of Gilman Hill Asset Management, LLC said SL Green Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>), which reported earnings last week, has a 6% yield.
On April 17, SL Green Realty posted first-quarter sales of $128.203 million, missing market expectations of $152.668 million. The company posted FFO of $3.07 beating estimates of $2.16. 
Evercore ISI Group analyst Steve Sakwa maintained SL Green Realty with an Underperform but raised the price target from $46 to $47 on April 22.
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>.
Joseph M. Terranova of Virtus Investment Partners named Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) as his final trade.
On April 15, Goldman Sachs reported better-than-expected first-quarter earnings, posting revenue of $14.21 billion for the first quarter of 2024, beating the consensus of $12.92 billion. 
The Wall Street giant reported EPS of $11.58, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38273192/goldman-sachs-boasts-near-perfect-q1-results-5-analysts-zero-in-on-core-strengths">beating the consensus of $8.60</a>.
Price Action:
<ul>
<li>Taiwan Semiconductor Manufacturing shares rose 1.6% to close at $129.75 on Monday.</li>
<li>SL Green Realty shares gained 2.4% to settle at $50.78 during Monday's session.</li>
<li>Goldman Sachs shares gained 3.3% to close at $417.35 during Monday's session.</li>
</ul>
Also Read This: <a href="https://www.benzinga.com/news/24/04/38370585/investor-optimism-improves-but-fear-greed-index-remains-in-fear-zone">Investor Optimism Improves, But Fear &amp; Greed Index Remains In &#8216;Fear&#8217; Zone</a>
Image: Shutterstock

Markets

Trading Ideas

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HRTX

Heron Therapeutics shares are trading higher after Capital One initiated coverage on the stock with an Overweight rating and $6 price target.

NVR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVR#NYSE">NVR</a>) reported quarterly earnings of $116.41 per share which beat the analyst consensus estimate of $103.97 by 11.96 percent. The company reported quarterly sales of $2.286 billion which beat the analyst consensus estimate of $2.221 billion by 2.91 percent. This is a 4.96 percent increase over sales of $2.178 billion the same period last year.

Earnings Beats

NVR Q1 2024 GAAP EPS $116.41 Beats $103.97 Estimate, Sales $2.286B Beat $2.221B Estimate

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Oxford Square Capital Corp. (OXSQ) Q1 2023 Earnings Conference Call Transcript

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Oxford Square Capital Corp. (OXSQ) Q2 2023 Earnings Call Transcript

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Oxford Square Capital Corp's (OXSQ) Q3 2023 Earnings Call Transcript

Saratoga Investment (Down Big): 40+ Big-Yield BDCs Compared

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Press Releases

Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended March 31, 2023 and Declaration of Distributions on Common Stock for the Months Ending July 31, August 31, and September 30, 2023

Management

Oxford Square Capital Corp. Announces Transferable Rights Offering

Financing

Oxford Square Capital Corp. Announces Partial Redemption of 6.50% Notes Due 2024

Oxford Square Capital Corp. Schedules Second Quarter 2023 Earnings Release and Conference Call for August 10, 2023

Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended June 30, 2023

Oxford Square Capital Corp. Schedules Third Quarter 2023 Earnings Release and Conference Call for November 7, 2023

Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended September 30, 2023 and Declaration of Distributions on Common Stock for the Months Ending January 31, February 29, and March 31, 2024

Oxford Square Capital Corp. Schedules Fourth Quarter 2023 Earnings Release and Conference Call for March 15, 2024

Dividends

Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended December 31, 2023 and Declaration of Distributions on Common Stock for the Months Ending April 30, May 31, and June 30, 2024.