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Petro USA Inc

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is set to release earnings results for its first quarter after the<a href="https://www.benzinga.com/quote/META/earnings"> closing bell on April 24, 2024.</a>
Analysts expect the Menlo Park, California-based company to report quarterly earnings at $4.32 per share, up from $2.20 per share in the year-ago period. Meta is projected to report quarterly revenue of $36.16 billion, up from $28.64 billion in the year-earlier quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Meta recently announced that its AI assistant, powered by the newly launched Llama 3 model, will now incorporate real-time search results from Alphabet Inc.&#8217;s (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>) Google and Microsoft Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Bing.
Meta shares rose 3% to close at $496.10 on Tuesday.
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/META/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Bernstein analyst Mark Shmulik maintained an Outperform rating and raised the price target from $535 to $590 on April 18, 2024. This analyst has an accuracy rate of 82%.</li>
<li>Truist Securities analyst Youssef Squali maintained a Buy rating and boosted the price target from $525 to $550 on April 17, 2024. This analyst has an accuracy rate of 81%.</li>
<li>UBS analyst Lloyd Walmsley maintained a Buy rating and raised the price target from $530 to $610 on April 16, 2024. This analyst has an accuracy rate of 85%.</li>
<li>Stifel analyst Mark Kelley maintained a Buy rating and boosted the price target from $527 to $588 on April 16, 2024. This analyst has an accuracy rate of 87%.</li>
<li>Citigroup analyst Ronald Josey maintained a Buy rating and increased the price target from $525 to $590 on April 15, 2024. This analyst has an accuracy rate of 72%.</li>
</ul>
Read This Next: <a href="https://www.benzinga.com/news/24/04/38376630/amazon-com-united-airlines-and-2-other-stocks-insiders-are-selling">Amazon.com, United Airlines And 2 Other Stocks Insiders Are Selling</a>

Earnings

News

Price Target

Markets

Trading Ideas

GOOG

GOOGL

MSFT

Meta Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Timberland Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSBK#NASDAQ">TSBK</a>) reported quarterly earnings of $0.70 per share. This is a 12.5 percent decrease over earnings of $0.80 per share from the same period last year. The company reported $18.25 million in sales this quarter. This is a 7.77 percent decrease over sales of $19.79 million the same period last year.

TSBK

Timberland Bancorp Q2 EPS $0.70 Down From $0.80 YoY, Sales $18.25M Down From $19.79M YoY

LPTV

Reported Earlier, NYSE American Issues Non-Compliance Warning To Loop Media For Continued Listing Standards

Management

Reported Earlier, Visionary Holdings Appoints Zhong Chen As CEO, Effective Immediately

Amid fluctuating market conditions and rumors about Elon Musk's role as the CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), the tech billionaire has suggested that he <a href="https://www.benzinga.com/news/24/04/38288360/breaking-tesla-shareholders-to-vote-again-on-ceo-elon-musks-voided-47b-pay-package">continues to spend</a> the majority of his time at the EV giant. 
What Happened: On Tuesday, during <a 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">Tesla's first-quarter earnings call</a>, Musk was asked that considering he is leading several important companies including SpaceX and X, formerly Twitter, where does his heart actually belong.&nbsp;
The question came from Tony Sacconaghi, a Wall Street analyst from Bernstein, who asked him about the possibility of reduced involvement with Tesla at &#8220;any point over the next three years.&#8221;&nbsp;
In response, Musk sidestepped answering the question directly. He said that Tesla &#8220;constitutes a majority of my work time, and I work pretty much every day of the week, it&#8217;s rare for me to take a Sunday afternoon off.&#8221;
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
The entrepreneur went on to assert that he will make sure &#8220;Tesla is quite prosperous. And it is — like it is prosperous, and it will be very much so in the future.&#8221;
Last year, Tesla director James Murdoch created a stir when he reportedly suggested that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/11/29760366/is-elon-musk-stepping-down-as-tesla-ceo-soon-analysts-react-to-succession-comments">Musk has identified a potential successor</a> to replace him.&nbsp;
Why It's Important: Earlier this month, Tesla's stock faced a significant downturn following a report on <a href="https://www.benzinga.com/markets/equities/24/04/38047077/tesla-stock-dives-as-q1-deliveries-disappoint-but-ev-giant-reclaims-top-spot-from-chinese-rival">disappointing first-quarter deliveries</a>. At the time, Wedbush analyst Dan Ives said that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38202377/elon-musk-should-pledge-3-5-year-tenure-as-ceo-says-wedbushs-dan-ives-70-of-the-val">70% of Tesla's value is Musk</a>.&nbsp;
&#8220;Musk is Tesla, Tesla is Musk,&#8221; he said.
In January earlier this year, Musk said that he <a href="https://www.benzinga.com/news/24/01/36634396/elon-musk-seeks-greater-control-over-tesla-as-ai-endeavors-multiply-enough-to-be-influential-not-so">would require increased control of Tesla</a> if he is to advance AI endeavors at the company. &#8220;I am uncomfortable growing Tesla to be a leader in AI &amp; robotics without having ~25% voting control. Enough to be influential, but not so much that I can&#8217;t be overturned.&#8221;
Previously, in 2020, <a href="https://www.benzinga.com/general/24/01/36574844/elon-musk-says-he-never-wanted-to-be-ceo-of-tesla-or-anything-running-companies-hurts-my-heart-but-h">Musk admitted that he never wanted</a> to be CEO of Tesla. &#8220;This is misinterpreted like I somehow don't love Tesla, which I do, it's just like trying not to go insane with work,&#8221; he said at the time.&nbsp;&nbsp;
Check out more of Benzinga's Future Of Consumer Tech by <a href="https://www.benzinga.com/topic/consumer-tech">following this link.</a>
Read Next: <a href="https://www.benzinga.com/news/24/04/38394597/elon-musk-reacts-to-marjorie-taylor-greenes-ally-revelation-of-fine-threat-by-house-authorities-mike">Elon Musk Reacts To Marjorie Taylor Greene&#8217;s Ally Revelation Of Fine Threat By House Authorities: Mike Johnson Removing Traces Of &#8216;Betrayal of America&#8217;</a>

Tech

TSLA

Elon Musk Answers Question On Reducing Involvement At Tesla In Coming 3 Years: 'It's Rare For Me To Take A Sunday Afternoon'

<ul>
<li>TANDI is now the first and only novel hormone therapy available for the treatment of high-risk biochemical recurrent non-metastatic hormone-sensitive prostate cancer in the European Union (EU)</li>
<li>XTANDI can be given alone or in combination with androgen deprivation therapy</li>
<li>Approval is based on results from the positive Phase 3 EMBARK study which showed XTANDI alone or in combination with leuprolide reduced the risk of metastasis or death</li>
</ul>

ALPMY

Reported Earlier, Astellas' XTANDI (Enzalutamide) Granted European Commission Approval For Use In Additional Recurrent Early Prostate Cancer Treatment Setting

With U.S. stock futures trading higher this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) to report a quarterly loss at $1.76 per share on revenue of $16.23 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Boeing shares rose 0.8% to $170.56 in after-hours trading.</li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) posted weaker-than-expected earnings and sales results for its first quarter on Tuesday. The company reported first-quarter revenue of $21.3 billion, which missed a Street consensus estimate of $22.15 billion. The electric vehicle giant also announced plans to speed up the launch of new models. Tesla shares jumped 13.3% to $163.96 in the after-hours trading session.</li>
<li>Analysts are expecting AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) to post quarterly earnings at 54 cents per share on revenue of $30.54 billion. The company will release earnings before the markets open. AT&amp;T shares rose 1.2% to close at $16.50 on Tuesday.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>) posted upbeat earnings for its third quarter, while sales missed expectations. Seagate shares gained 1.8% to $88.10 in the after-hours trading session.</li>
<li>Analysts expect Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) to post quarterly earnings at 42 cents per share on revenue of $40.10 billion after the closing bell. Ford shares rose 0.9% to $13.05 in after-hours trading.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38377866/top-2-health-care-stocks-which-could-rescue-your-portfolio-this-month">Top 2 Health Care Stocks Which Could Rescue Your Portfolio This Month</a>

Equities

Pre-Market Outlook

Tesla, Boeing And 3 Stocks To Watch Heading Into Wednesday

Following payload deployment to two separate orbits, Electron&#39;s Kick Stage completed a final engine burn to lower its altitude and speed up its reentry to help reduce space junk

RKLB

Reported Earlier, Rocket Lab Deploys Satellites ~500km Apart To Separate Orbits For KAIST And NASA

Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO&nbsp;Elon Musk&nbsp;offered a glimpse into his&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38286437/tesla-ceo-elon-musk-says-going-balls-to-the-wall-for-autonomous-driving-is-blindingly-obvious-as-eve" rel="noreferrer noopener">&#8220;blindingly obvious&#8221;&nbsp;robotaxi&nbsp;strategy</a>&nbsp;during the company&#8217;s first-quarter earnings call on Tuesday, highlighting a potential name for the autonomous vehicle — &#8220;Cybercab&#8221; — and a unique ownership model inspired by&nbsp;Airbnb&nbsp;and&nbsp;Uber.
Dual Ownership Fleet:&nbsp;Musk described the forthcoming&nbsp;robotaxi&nbsp;fleet as functioning &#8220;like a combination of Airbnb and Uber.&#8221; This suggests a two-pronged approach: Tesla will own and operate a segment of the&nbsp;robotaxi&nbsp;fleet, while also offering individuals the opportunity to integrate their&nbsp;personal&nbsp;vehicles into the network for rental purposes.&nbsp;
This concept echoes a similar vision presented by Musk in 2019, as per Reuters, where a&nbsp;robotaxi&nbsp;network was expected to be operational by 2020.
See Also: <a href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock">How To Buy Tesla Stock </a>
&#8216;Cybercab&#8217; Name Emerges:&nbsp;During the call, Musk casually referred to the &#8220;purpose-built&nbsp;robotaxi&nbsp;product&#8221; as the &#8220;Cybercab.&#8221; While it&#8217;s unclear if this is a placeholder or the final name, it hints at a potential design direction.
Design Inspiration:&nbsp;According to Musk&#8217;s biographer&nbsp;Walter Isaacson, the design for the&nbsp;robotaxi, as well as the&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38262675/not-good-for-tesla-if-its-true-says-fund-manager-as-new-report-says-ev-maker-has-pu" rel="noreferrer noopener">now-scrapped $25,000 EV</a>, was influenced by a February 2023 design review session. Inspired&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/09/34422336/elon-musk-biographer-walter-isaacsons-interview-raises-speculations-on-tesla-robotaxi-design" rel="noreferrer noopener">by the Tesla Cybertruck</a>, both vehicles reportedly share a futuristic aesthetic characterized by angular lines and stainless steel construction.
Durability in Focus:&nbsp;In a playful jab at self-driving car company&nbsp;Waymo, Musk this week commented on a parody video showcasing the Cybertruck&#8217;s durability, suggesting it might be better suited for San Francisco&#8217;s&nbsp;robotaxi&nbsp;scene due to recent vandalism incidents.&nbsp;
Uncertain Timeline, Clearer Vision:&nbsp;While the precise timeline for the Cybercab&#8217;s launch remains unconfirmed, these developments paint a clearer picture of Tesla&#8217;s self-driving ambitions.&nbsp;
While some analysts like&nbsp;Gene Munster&nbsp;support Tesla&#8217;s focus on autonomous vehicles, others like&nbsp;Gary Black&nbsp;<a href="https://www.benzinga.com/news/24/04/38286437/tesla-ceo-elon-musk-says-going-balls-to-the-wall-for-autonomous-driving-is-blindingly-obvious-as-eve" target="_blank" rel="noreferrer noopener">warn it&#8217;s risky</a>&nbsp;to prioritize robotaxis over developing the previously planned low-cost electric car. Importantly, Musk has long championed autonomous Teslas functioning as robotaxis, even identifying it as a key driver of value in 2023.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/04/38395808/teslas-high-profile-departures-continue-as-investor-relations-head-martin-viecha-bids-farewell-after" target="_blank" rel="noreferrer noopener">Tesla&#8217;s High-Profile Departures Continue As Investor Relations Head Martin Viecha Bids Farewell After 7-Year Run</a>
Image generated using AI on Adobe Shutterstock

Guidance

Tesla's Robotaxi To Be Called 'Cybercab?' Elon Musk Says Self-Driving Fleet Will Be Like 'Combination Of Airbnb And Uber'

CNTA

Reported Earlier, Centessa Pharmaceuticals Prices $100M Public Offering Of 10,810,810 American Depositary Shares At $9.25/ADS

The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Tuesday.
U.S. stocks closed higher on Tuesday, recording gains for the second straight session.
On the economic data front, the S&amp;P Global composite PMI fell to 50.9 in April versus 52.1 a month ago. Sales of new single-family houses jumped 8.8% month-over-month to an annualized rate of 693,000 in March, compared to a revised 5.1% decline in February.
General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) reported better-than-expected earnings for its fiscal first quarter. PepsiCo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) reported first-quarter FY24 sales growth of 2.3% year-on-year to $18.25 billion, beating the analyst consensus estimate of $18.079 billion. JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) shares fell around 19% on Tuesday after the company reported first-quarter financial results and issued weak FY24 revenue outlook.
As far as the earnings season is concerned, around 20% of the S&amp;P 500 companies have released quarterly results so far, with around 76% of those exceeding market estimates.
Most sectors on the S&amp;P 500 closed on a positive note, with information technology, communication services and industrial stocks recording the biggest gains on Tuesday. However, materials stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 264 points to 38,503.69 on Tuesday. The S&amp;P 500 rose 1.20% at 5,070.55, while the Nasdaq Composite climbed 1.59% at 15,696.64 during Tuesday's session.
Investors are awaiting earnings results from Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>), The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) today.
At a current reading of 40.1, the index remained in the &#8220;Fear&#8221; zone on Tuesday, versus a prior reading of 38.1.
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.
Read Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38377428/over-10m-bet-on-this-healthcare-stock-check-out-these-4-stocks-insiders-are-buying">Over $10M Bet On This Healthcare Stock? Check Out These 4 Stocks Insiders Are Buying</a>

JBLU

Investor Sentiment Improves Further, Dow Jumps Over 250 Points

Brett Arends, a journalist for MarketWatch, recently expressed his views on Donald Trump&#8217;s $1.1 billion stock bonus deal with Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>). 
What Happened: During CNBC&#8217;s &#8220;Last Call&#8221; on Tuesday, Arends described the deal as a &#8220;no-lose&#8221; situation for the former president. The deal bumped Trump&#8217;s overall stake in the company to $3.7 billion shares.
&#8220;You&#8217;re dealing with a guy who is a pass-master at hustling,&#8221; Arends said, recognizing Trump&#8217;s marketing strategies and &#8220;playing the media.&#8221;
"When you look through the fine print, it's just amazing. The terms of this bonus are, which were written in there and nobody was paying attention to, basically was a no-lose deal for Donald Trump" Arends said. 
<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">"It's just amazing," says <a href="https://twitter.com/MarketWatch?ref_src=twsrc%5Etfw">@marketwatch</a>'s <a href="https://twitter.com/BrettArends?ref_src=twsrc%5Etfw">@BrettArends</a> on Donald Trump's $1.1B stock bonus deal with Trump Media. "The terms of this bonus are… a no-lose deal for Donald Trump." <a href="https://twitter.com/search?q=%24DJT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DJT</a> <a href="https://t.co/fUaY3B5Wox">pic.twitter.com/fUaY3B5Wox</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1782923314886758577?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a 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?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Q1 Earnings Highlights: EV Giant Misses Wall Street Estimates, Makes Cost Cuts, Invests In AI, Spee</a>
Why It Matters: Trump could gain an <a href="https://www.benzinga.com/general/politics/24/04/38362005/donald-trump-may-soon-receive-36-million-more-djt-shares-key-milestone-ahead">additional $1.26 billion worth of DJT shares </a>if the company meets certain performance-based milestones. This potential windfall is part of an earnout provision from the original SPAC merger agreement with Digital World Acquisition Corporation.
However, DJT shares <a href="https://www.benzinga.com/markets/equities/24/04/38384714/whats-going-on-with-trump-media-technology-stock-on-tuesday">have been on a downward trend</a> recently. The stock has been in free fall for the last month. The company has even reached out to Nasdaq regarding suspected short-selling activity in its shares.
Price Action: Trump Media &amp; Technology Group Corp. closed at $32.57 on Tuesday, as per <a href="https://pro.benzinga.com">Benzinga Pro</a> data. The stock&#8217;s 52-week high is $79.38, and its 52-week low is $22.55. After hours, the stock was last traded at $32.15.
Read Next: <a href="https://www.benzinga.com/news/24/04/38339431/general-motors-and-ford-are-facing-the-same-challenge-as-they-run-back-to-gas-powered-trucks?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">General Motors And Ford Are Facing The Same Challenge As They Run Back To Gas-Powered Trucks</a>
Image via Shutterstock
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Analyst Color

General

'No-Lose Deal For Donald Trump,' Says Expert On Ex-President's $1.1B Stock Bonus Deal With DJT

The size of the offering was increased from the previously announced $250 million aggregate principal amount of notes. In connection with the offering of the notes, Vertex granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $45 million aggregate principal amount of notes. The sale of the notes to the initial purchasers is expected to settle on April 26, 2024, subject to customary closing

VERX

Reported Earlier, Vertex Prices Upsized $300M 0.750% Convertible Senior Notes Due 2029

In a recent statement, Kim Yo Jong, sister of North Korean leader Kim Jong Un, announced that North Korea is committed to strengthening its military power to safeguard its sovereignty and ensure regional peace.
What Happened: Kim Yo Jong condemned the U.S. military&#8217;s series of exercises in the region this year, beginning with live-fire drills conducted with South Korea, which she labeled as a cause of regional instability, Reuters reported on Wednesday. She referred to the South Korean military as &#8220;puppet military gangsters.&#8221;
&#8220;We will continue to build overwhelming and the most powerful military power to safeguard our sovereignty, security and regional peace,&#8221; she was quoted as saying by the North&#8217;s KCNA news agency.
The U.S. and South Korean militaries have been conducting a series of drills with increased scale and intensity in recent months, under a pledge by both countries&#8217; leaders to enhance military readiness against North Korea&#8217;s threats.
See Also: <a href="https://www.benzinga.com/news/24/04/38348277/trump-vs-biden-nationwide-poll-shows-key-issue-decidedly-tilts-equation-in-favor-of-one-candidate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump vs. Biden: Nationwide Poll Shows Key Issue Decidedly Tilts Equation In Favor Of One Candidate</a>
About 100 military aircraft conducted two-week-long aerial drills this month, according to South Korea&#8217;s military. North Korea views these U.S. military exercises as preparations for a nuclear war against it, while Washington and Seoul maintain that the drills are defensive and conducted regularly to maintain readiness.
Why It Matters: This announcement comes on the heels of a series of events that have escalated tensions in the region. Earlier this year, North Korea conducted its fourth missile test,<a href="https://www.benzinga.com/news/24/04/38358710/kim-jong-uns-north-korea-conducts-fourth-missile-test-in-2024-alarms-south-korea-japan"> raising alarms in South Korea</a> and Japan. The missile was suspected to be a ballistic one, capable of deploying a hypersonic glide vehicle for delivering a nuclear payload.
In response to North Korea&#8217;s actions, the United States, South Korea, and Japan proposed the creation of a <a href="https://www.benzinga.com/news/24/04/38290092/us-and-asian-allies-propose-new-panel-to-monitor-sanctions-imposed-on-kim-jong-uns-north-korea">new body to oversee sanctions</a> enforcement. This initiative was proposed to maintain international pressure on North Korea.
Kim Yo Jong&#8217;s recent statement echoes her previous criticisms of the U.S., as <a href="https://www.benzinga.com/news/23/06/32663578/kim-jong-uns-powerful-sister-berates-us-for-gangster-like-hypocrisy-after-north-koreas-failed-spy-sa">she had slammed the U.S</a>. for &#8220;gangster-like&#8221; hypocrisy after North Korea&#8217;s failed military spy satellite launch in 2023.
Read Next: <a href="https://www.benzinga.com/news/24/04/38350223/us-base-in-syria-targeted-by-rockets-fired-from-iraq-washington-strikes-back-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">US Base In Syria Targeted By Rockets Fired From Iraq, Washington Strikes Back: Report</a>
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Politics

Global

Kim Jong Un's Sister Pledges To Build North Korea's 'Overwhelming' Military Power Amid Rising Regional Tensions

Paul Krugman, a prominent American economist, has weighed in on the current inflation debate, citing a recent survey by the Atlanta Federal Reserve that suggests stable inflation expectations.
What Happened: On Sunday, Krugman took to social media platform X to share his thoughts on the matter. He wrote, &#8220;Is inflation taking off again? Businesses don&#8217;t think so: Atlanta Fed survey shows inflation expectations stable at slightly above 2 percent.&#8221;
<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">Is inflation taking off again? Businesses don&#39;t think so: Atlanta Fed survey shows inflation expectations stable at slightly above 2 percent <a href="https://t.co/T8XdRP7oYq">pic.twitter.com/T8XdRP7oYq</a>
&mdash; Paul Krugman (@paulkrugman) <a href="https://twitter.com/paulkrugman/status/1782892538619204049?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/news/24/04/38350894/billionaire-investor-ray-dalio-is-sticking-with-gold-as-a-hedge-against-inflation-history-and-logic?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Billionaire Investor Ray Dalio Is Sticking With Gold As A Hedge Against Inflation: &#8216;History And Logic Sho</a>
Why It Matters: Krugman&#8217;s comments come at a time when the topic of inflation is a major concern for the market. The <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38389508/did-the-feds-strategy-pay-off-goldman-sachs-projects-steady-inflation-decline-in-20">Federal Reserve&#8217;s strategy</a> and the impact of government spending on inflation have been hotly debated. Former Dallas Fed President Robert Kaplan recently suggested that government spending was contributing to sustained inflation, making rate cuts unadvisable.
However, Goldman Sachs economist Jessica Rindels has predicted a decline in the core Personal Consumption Expenditure (PCE) Inflation for the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38389508/did-the-feds-strategy-pay-off-goldman-sachs-projects-steady-inflation-decline-in-20">rest of the year</a>, attributing the recent inflation increases to transient factors.
Meanwhile, the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38381361/us-private-sector-growth-unexpectedly-slows-in-april-marks-lowest-increase-in-4-mon">latest data on U.S. private sector activity</a> indicates a significant and unexpected slowdown in growth, marking the softest expansion since December. This slowdown has been accompanied by a welcome moderation in the rates of increase for selling prices in both goods and services.
Notably, the drivers of inflation have changed. Manufacturing has now registered a steeper rate of price increases in three of the past four months, with factory cost pressures intensifying in April amid higher raw material and fuel prices, contrasting with the wage-related, services-led price pressures seen throughout much of 2023,&#8221; Chris Williamson, chief business economist at S&amp;P Global Market Intelligence stated.
Contrasting Krugman&#8217;s views, economist Peter Schiff cautioned in March that despite the Federal Reserve&#8217;s signaling of three <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/38013652/peter-schiff-warns-of-far-more-devastating-outcome-than-2008-global-financial-crisi">potential rate cuts</a> this year under Jerome Powell&#8217;s leadership, the central bank&#8217;s thinking might be erroneous, especially with the annual rate of personal consumption expenditure index ticking up.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38358074/peter-schiff-warns-against-piling-risk-assets-like-tech-stocks-and-bitcoin-amid-inf?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Warns Against Piling &#8216;Risk Assets&#8217; Like Tech Stocks And Bitcoin Amid Inflation Concerns: &#8216;In</a>
Image Generated With AI Via Midjourney
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Economics

'Is Inflation Taking Off Again?' Paul Krugman Dismisses Fears, Citing Atlanta Fed Survey

The U.S. Congress has finally approved a comprehensive&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37656991/ukraine-to-receive-300-million-in-us-military-aid-as-battle-with-russia-intensifies" rel="noreferrer noopener">foreign aid package</a>, totaling $95 billion, for Ukraine, Israel, and Taiwan, in a move to counter Russia&#8217;s ongoing invasion of Ukraine.
What Happened: The Senate passed four bills on Tuesday, with a vote of 79-18, that were previously approved by the House of Representatives, reported Reuters. The bills encompass mostly military aid for Ukraine, Israel, Taiwan, and U.S. partners in the Indo-Pacific.
The package includes a $61 billion allocation for Ukraine, $26 billion for Israel, and humanitarian aid for civilians in conflict zones globally. It also sets aside $8.12 billion to &#8220;counter communist China&#8221; in the Indo-Pacific. A fourth bill, added by the House last week, includes potential bans on the Chinese-controlled social media app TikTok, measures for the transfer of seized Russian assets to Ukraine, and new sanctions on Iran.
The aid package is expected to be signed into law by President&nbsp;Joe Biden&nbsp;on Wednesday. The bills were combined into one package in the Senate.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-aerospace-defense-stocks" rel="noreferrer noopener">Best Aerospace and Defense Stocks</a>
Ukrainian President&nbsp;Volodymyr Zelenskiy&nbsp;expressed gratitude to U.S. lawmakers for approving the &#8220;vital&#8221; aid for Ukraine, emphasizing the reinforcement of America&#8217;s role as a beacon of democracy and the leader of the free world.
Both Democratic and Republican leaders in the Senate anticipate that the aid package will send a clear message to Russian President&nbsp;Vladimir Putin&nbsp;and other foreign adversaries that the U.S. will continue to support Ukraine and its partners.
Why It Matters: The approval of the aid package comes amid&nbsp;<a target="_blank" href="https://www.benzinga.com/24/04/38349780/russia-foresees-humiliating-fiasco-for-us-in-ukraine-support-kremlin-drops-vietnam-and-afghanistan-r" rel="noreferrer noopener">warnings from the Kremlin</a>&nbsp;that the U.S. support for Ukraine could result in a &#8220;humiliating fiasco,&#8221; drawing parallels with Vietnam and Afghanistan. The aid package also includes measures for the transfer of seized Russian assets to Ukraine, a move that&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38376263/russia-threatens-retaliation-over-potential-seizure-of-frozen-assets-to-aid-ukraine" rel="noreferrer noopener">Russia has threatened to retaliate against</a>.
The approval of this aid package is a significant step in the U.S.&#8217;s response to Russia&#8217;s invasion of Ukraine and its broader geopolitical strategy in the Indo-Pacific.
Read Next: <a href="https://www.benzinga.com/news/24/04/38394855/biden-set-to-sign-tiktok-ban-into-law-after-senate-passes-bill-supported-by-gop-democrats" target="_blank" rel="noreferrer noopener">Biden Set To Sign TikTok Ban Into Law After Senate Passes Bill Supported By GOP, Democrats</a>
Image via Shutterstock
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Media

US Congress Finally Passes $95B Foreign Aid Bill For Ukraine, Israel, Taiwan Amid Simmering Russian Aggression

Norsk Hydro (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NHYDY#OTC">NHYDY</a>) reported quarterly earnings of $0.09 per share which met the analyst consensus estimate. This is a 48.24 percent decrease over earnings of $0.17 per share from the same period last year. The company reported quarterly sales of $4.522 billion which missed the analyst consensus estimate of $4.829 billion by 6.36 percent. This is a 4.76 percent decrease over sales of $4.748 billion the same period last year.

Earnings Misses

NHYDY

Norsk Hydro Q1 2024 Adj. EPS $0.09, Inline, Sales $4.522B Miss $4.829B Estimate

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Vice President of Investor Relations Martin Viecha announced his decision to resign from the company during its first-quarter earnings call on Tuesday. The update follows the departure of <a href="https://www.benzinga.com/news/24/04/38265084/did-someone-get-promoted-at-tesla-amid-layoffs-autopilot-heads-x-badge-change-sparks-talk-of-leaders" target="_blank" rel="noreferrer noopener">two other senior executives</a> from the EV giant.
What Happened: Viecha revealed his resignation toward <a href="https://www.benzinga.com/markets/equities/24/04/38395406/teslas-strategic-pivot-post-q1-gets-a-thumbs-up-from-ross-gerber-wedbushs-dan-ives-lauds-elon-mu">the end of the call</a>, mentioning that he had met with CEO Elon Musk and CFO Vaibhav Taneja about a month before discussing his decision. Although Viecha did not provide specific details about his plans, he expressed his intention to take a break and spend quality time with his family.
&#8220;I&#8217;ll be hanging around for another couple of months or so. So, feel free to reach out at any time. But after the seven-year sprint,&nbsp;I&#8217;m going to&nbsp;be taking a break and spending some good quality time with my family,&#8221; he stated. While Viecha did not specify his departure timeline, he indicated that he would not participate in the next quarter&#8217;s earnings call, likely scheduled for July.
&#8220;Looking forward to the call in the next three months, but I&#8217;ll be on the other side, listening in,&#8221; he added.
Why It Matters:&nbsp;Viecha has been Tesla&#8217;s VP of Investor Relations for nearly seven years,&nbsp;having joined&nbsp;the EV maker in October 2017. Musk expressed gratitude for Viecha&#8217;s contributions to the company, highlighting his exceptional analysis of Tesla.
&#8220;The reason&nbsp;I reached out to you&nbsp;was&nbsp;because I thought your analysis of Tesla was the best that I had seen.&nbsp;Yes, thank you for helping Tesla to get to where it is today over seven years. It&#8217;s been a pleasure working with you,&#8221; Musk said.
Viecha&#8217;s resignation marks the third high-profile exit from Tesla in two weeks, following the recent layoffs affecting over&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38244436/breaking-tesla-said-to-be-laying-off-over-14-000-employees" rel="noreferrer noopener">10% of its global workforce</a>&nbsp;and the departures of senior executives&nbsp;Drew Baglino&nbsp;and&nbsp;Rohan Patel.
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:&nbsp;<a href="https://www.benzinga.com/news/24/04/38370123/elon-musk-admits-tesla-ads-were-far-too-generic-after-laying-off-us-marketing-team-couldve-been-any">Elon Musk Admits Tesla Ads Were &#8216;Far Too Generic&#8217; After Laying Off US Marketing Team: &#8216;Could&#8217;ve Been Any Car&#8217;</a>
Image via Shutterstock

Tesla's High-Profile Departures Continue As Investor Relations Head Martin Viecha Bids Farewell After 7-Year Run

Let&#8217;s face it, anxiety is a tricky beast that can pop up at the most inconvenient times. Whether it's the Sunday scaries or a random wave of worry, having quick and effective strategies to kick anxiety to the curb is crucial. As someone who's navigated the choppy waters of anxiety, I&#8217;ve found a few personal hacks that help me regain my calm swiftly. Here are my top five go-to moves when I need to dial down the distress, pronto!
1. Deep Breathing Exercises
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233549/image-169-1024x585.png" alt="" class="wp-image-305585" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233549/image-169-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233549/image-169-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233549/image-169-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233549/image-169-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233549/image-169.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Deep breathing helps me in regulating my heart rate when I&#8217;m overcome with anxiety, Image Generated Via Dall-E</figcaption></figure>
Never underestimate the power of breathing! When anxiety hits, I take a minute to focus solely on my breath. I practice the 4-7-8 breathing technique — breathe in for 4 seconds, hold for 7 seconds, and exhale slowly for 8 seconds. This not only helps in regulating my heart rate but also shifts my focus from anxious thoughts to my breathing pattern.
2. Listen to a Calming Playlist
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233552/image-170-1024x585.png" alt="" class="wp-image-305586" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233552/image-170-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233552/image-170-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233552/image-170-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233552/image-170-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233552/image-170.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Listening to a calming playlist is a great way to battle anxiety, Image Generated Via Dall-E</figcaption></figure>
Music is my sanctuary! I have a special playlist loaded with tunes that soothe my soul. Whether it&#8217;s the soft strumming of an acoustic guitar or the tranquil sound of ocean waves, the right music can transport me from a state of panic to peace in just a few notes.
3. A Quick Walk Outside
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233602/image-171-1024x585.png" alt="" class="wp-image-305587" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233602/image-171-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233602/image-171-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233602/image-171-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233602/image-171-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233602/image-171.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Changing your environment by taking a quick five minute walk can help with anxiety, Image Generated Via Dall-E</figcaption></figure>
Changing your environment can change your perspective. When anxiety starts creeping in, I lace up my sneakers and step outside. A brisk five-minute walk not only helps in clearing my mind but also boosts endorphins, improving my mood and decreasing feelings of anxiety.
4. Journaling My Thoughts
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233615/image-172-1024x585.png" alt="" class="wp-image-305588" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233615/image-172-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233615/image-172-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233615/image-172-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233615/image-172-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233615/image-172.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Journaling your thoughts is an antidote for anxiety that works for me, Image Generated Via Dall-E</figcaption></figure>
Writing down what&#8217;s on my mind is incredibly therapeutic. It helps me organize my thoughts and sometimes even see the irrationality of my worries. A quick scribble in my journal acts like a pressure valve for my anxiety, releasing the tension in a healthy way.
5. Practice Mindfulness or Meditation
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233619/image-173-1024x585.png" alt="" class="wp-image-305589" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233619/image-173-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233619/image-173-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233619/image-173-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233619/image-173-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233619/image-173.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Meditation is a game-changer when it comes to anxiety, Image Generated Via Dall-E </figcaption></figure>
Meditation has been a game changer for me. Taking even just a few minutes to sit quietly and meditate can make a significant difference. It's about bringing myself into the present moment and quieting the noise in my head. Apps like Headspace or Calm have guided sessions that are perfect for quick anxiety relief.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38348747/not-something-steve-jobs-would-probably-do-gurman-says-apple-should-go-against-the-grain-and-low?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Not Something Steve Jobs Would Probably Do&#8217;: Gurman Says Apple Should Go Against The Grain And Lower iPhone&#8217;s Price Point</a> Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Entertainment

5 Things That Helped Me Deal With My Anxiety Because Life Is Hard As It Is

Ross Gerber, CEO of Gerber Kawasaki Wealth, supports Tesla Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) strategy shift post-Q1 results, while Dan Ives praised Elon Musk&#8216;s leadership. Despite a revenue dip, Tesla&#8217;s shares rise on new model plans.
What Happened: Despite Tesla&#8217;s disappointing Q1 results, Gerber is optimistic about the company&#8217;s future. He shared his thoughts on Tesla&#8217;s new direction in an interview with CNBC&#8217;s Last Call. 
&#8220;As long as Tesla shareholders are fine with a much less profitable version of the company then this vision works fine,&#8221; Gerber said. &#8220;There&#8217;s a difference between owning a Tesla, buying a Tesla and being a shareholder,&#8221; Gerber 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">&quot;As long as <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> shareholders are fine with a much less profitable version of the company then this vision works fine,&quot; says <a href="https://twitter.com/GerberKawasaki?ref_src=twsrc%5Etfw">@GerberKawasaki</a> following <a href="https://twitter.com/hashtag/Tesla?src=hash&amp;ref_src=twsrc%5Etfw">#Tesla</a>&#39;s Q1 results. &quot;There&#39;s a difference between owning a Tesla, buying a Tesla and being a shareholder.&quot; <a href="https://t.co/FDKQSu8uoV">pic.twitter.com/FDKQSu8uoV</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1782912002660172252?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Meanwhile, Dan Ives, an analyst at Wedbush, praised Tesla CEO&#8217;s leadership. He said, &#8220;Tesla needed an adult in the room, and Elon Musk was the adult in the room.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;Tesla needed an adult in the room, and <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> was the adult in the room,&quot; says <a href="https://twitter.com/DivesTech?ref_src=twsrc%5Etfw">@divestech</a> as shares of Tesla surge following a renewed push for affordable models. <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> <a href="https://t.co/triAAGBwuq">pic.twitter.com/triAAGBwuq</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1782910640677331119?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
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Tesla <a 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">reported</a> a 9% year-over-year revenue drop to $21 billion in Q1, missing the Street&#8217;s consensus estimate of $22.15 billion. Despite this, the company&#8217;s shares surged after announcing plans to accelerate the launch of new models, including more affordable options and a next-generation platform.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38348301/bitcoin-halving-elon-musks-dogecoin-tweet-solanas-rise-and-more-this-week-in-cryptocurrenc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Halving, Elon Musk&#8217;s Dogecoin Tweet, Solana&#8217;s Rise And More: This Week In Cryptocurrency</a>
Gerber had previously voiced concerns about Tesla&#8217;s future, predicting a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38372928/tesla-isnt-growing-investor-ross-gerber-predicts-bad-q1-earnings-and-pokes-holes-in">challenging earnings report</a> and questioning the company&#8217;s growth strategy. However, he now seems to be on board with the new direction Tesla is taking.
Why It Matters: The recent surge in Tesla&#8217;s stock price despite the &#8220;ugly&#8221; Q1 results can be attributed to the company&#8217;s announcement of an <a href="https://www.benzinga.com/news/earnings/24/04/38394792/tesla-stock-surges-despite-ugly-q1-results-heres-why">accelerated new model launch</a>. This shift in strategy seems to have won over prominent investor Ross Gerber, who had previously expressed concerns about Tesla&#8217;s growth strategy.
Gerber&#8217;s support for Tesla&#8217;s new direction comes after he <a href="https://www.benzinga.com/markets/equities/24/04/38306906/tesla-boards-credibility-at-stake-with-56b-elon-musk-pay-package-vote-says-ross-gerber-super-gra">questioned the credibility of the Tesla board</a> in a recent interview. His latest comments indicate a shift in sentiment, suggesting that Tesla&#8217;s strategic changes have the potential to reshape the company&#8217;s future.
The statement from Ives is a significant turnaround from his previous criticism of Musk. Just a week ago, Ives had demanded <a href="https://www.benzinga.com/markets/equities/24/04/38262559/the-street-wants-and-needs-answers-from-elon-musk-on-tesla-layoffs-dan-ives-demands-rationale-fo">answers from Musk regarding Tesla&#8217;s layoffs</a>. He had called for a clear rationale for the cost-cutting measures, especially in light of a challenging quarter for the electric vehicle giant.
Price Action: In after-hours trading, Tesla shares surged by 13.38%, currently priced at $144.61, reflecting a 1.80% increase from Tuesday&#8217;s close. Despite these fluctuations, Tesla&#8217;s shares have experienced a year-to-date decline of 41.79%, according to the data&nbsp;<a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/news/24/04/38339431/general-motors-and-ford-are-facing-the-same-challenge-as-they-run-back-to-gas-powered-trucks?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">General Motors And Ford Are Facing The Same Challenge As They Run Back To Gas-Powered Trucks</a>
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