ProShares Global Listed Private Equity ETF (BATS: PEX)

ProShares Global Listed Private Equity ETF (BATS:PEX), Trade Ideas

ProShares Global Listed Private Equity ETF

Small Cap

Markets

AAPL

COIN

DOCU

MARA

MSFT

QQJG

QQMG

FAPZX

IBLC

RSPE

For decades, many retail investors allocated their portfolios among standard choices like stocks, bonds and mutual funds that have exposure to those traditional asset classes. Currently, many traditional rules of thumb, including the 60%/40% stock-to-bond portfolio, are becoming somewhat obsolete.

Fidelity And BlackRock Are Creating More Alternative Investment Funds - Here&#39;s Why

ETFs

Real Estate

SPXZ

GUSH

For decades, affluent investors invested in alternative investment options like private equity, real estate and unconventional options like art. However, times are changing as more average investors are starting to invest in these asset classes.

Why Alternative Investments Are Becoming More Mainstream

News

Tech

Media

PowerShares Listed Private Equity Portfolio

Private equity firm TA Associates was in advanced discussions to acquire Advent International owned enterprise software company Unit4 NV for over $2 billion, 

TA In Advanced Talks For Acquiring Advent&#39;s Unit4 Software Business: Bloomberg

PearDAO

Pacer US Export Leaders ETF

PTT EXPLRTN&PRDTN PLC ADR by PTT Exploration & Production Public Co., Ltd.

PTT Exploration & Production PCL

PTT EXPL&PROD N/VTG SHS by PTT Exploration & Production Public Co., Ltd.

PACIFIC RIDGE EXPL LTD by Pacific Ridge Exploration Ltd.

Pacific Ridge Exploration Ltd

ALCC

Reported Earlier, AltC Acquisition Corp. Schedules Special Meeting For Oklo Business Combination Approval

Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) is set to release earnings results for its first quarter before the <a href="https://www.benzinga.com/quote/XOM/earnings">opening bell on April 26, 2024</a>.
Analysts expect the Spring, Texas-based company to report quarterly earnings at $2.20 per share, down from $2.83 per share in the year-ago period. Exxon Mobil is projected to report quarterly revenue of $78.35 billion, up from $86.56 billion in the year-earlier quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Feb. 2, Exxon Mobil said fourth-quarter FY23 result adjusted net profit came in at $9.96 billion, or $2.48 per share, down from $14.04 billion, or $3.40 per share, a year earlier, beating the consensus of $2.21 per share.
Exxon Mobil shares rose 0.2% to close at $121.33 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/XOM/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Piper Sandler analyst Ryan Todd maintained an Overweight rating and raised the price target from $130 to $145 on April 18, 2024. This analyst has an accuracy rate of 78%.</li>
<li>UBS analyst Josh Silverstein maintained a Buy rating and boosted the price target from $133 to $150 on April 11, 2024. This analyst has an accuracy rate of 70%.</li>
<li>Wells Fargo analyst Roger Read maintained an Overweight rating and boosted the price target from $126 to $138 on April 4, 2024. This analyst has an accuracy rate of 74%.</li>
<li>TD Cowen analyst Jason Gabelman maintained a Buy rating and raised the price target from $115 to $120 on April 1, 2024. This analyst has an accuracy rate of 74%.</li>
<li>Redburn Atlantic analyst Peter Low upgraded the stock from Neutral to Buy and increased the price target from $116 to $119 on Jan. 9, 2024. This analyst has an accuracy rate of 75%.</li>
</ul>
Read This Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38430580/glucotrack-and-2-other-stocks-under-1-insiders-are-buying">GlucoTrack And 2 Other Stocks Under $1 Insiders Are Buying</a>

Earnings

Price Target

Trading Ideas

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

Reported Earlier, AZZ Prices Public Offering Of 4M Common Stock At $70/Share For Gross Proceeds Of $280M

NorthWestern (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWE#NASDAQ">NWE</a>) reported quarterly earnings of $1.09 per share which missed the analyst consensus estimate of $1.13 by 3.54 percent. This is a 3.81 percent increase over earnings of $1.05 per share from the same period last year. The company reported quarterly sales of $475.300 million which beat the analyst consensus estimate of $471.601 million by 0.78 percent. This is a 4.58 percent increase over sales of $454.500 million the same period last year.

Earnings Beats

Earnings Misses

NorthWestern Q1 2024 Adj EPS $1.09 Misses $1.13 Estimate, Sales $475.300M Beat $471.601M Estimate

Vincerx Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VINC#NASDAQ">VINC</a>) today announced the pricing of an underwritten public offering of (i) 6,000,000 shares of its common stock and accompanying common stock warrants to purchase an aggregate of 6,000,000 shares of common stock, and (ii) to certain investors, pre-funded warrants to purchase up to an aggregate of 16,000,000 shares of common stock and accompanying common stock warrants to purchase up to an aggregate of 16,000,000 shares of common stock. Each share of common stock and accompanying common stock warrant are being sold together at a combined public offering price of&nbsp;$0.75, and each pre-funded warrant and accompanying common stock warrant are being sold together at a combined public offering price of&nbsp;$0.7499.

VINC

Vincerx Pharma Sets Pricing For New Public Offering Of Shares And Warrants

SJW Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJW#NYSE">SJW</a>) reported quarterly earnings of $0.36 per share which missed the analyst consensus estimate of $0.39 by 7.69 percent. This is a 2.7 percent decrease over earnings of $0.37 per share from the same period last year. The company reported quarterly sales of $149.382 million which beat the analyst consensus estimate of $140.500 million by 6.32 percent. This is a 8.80 percent increase over sales of $137.296 million the same period last year.

SJW Gr Q1 2024 GAAP EPS $0.36 Misses $0.39 Estimate, Sales $149.382M Beat $140.500M Estimate

Crypto trader Kevin has suggested that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) could be on the brink of outperforming the S&amp;P 500.
What Happened: On Thursday, Kevin, a well-known crypto trader, took to social media platform X to share an intriguing insight. He pointed out that the chart for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) versus the S&amp;P 500 is showing signs of consolidation just below all-time highs. This, he suggested, could indicate a potential outperformance of Bitcoin against the stock market.
&#8220;#BTC vs #SPX (S&amp;P500) on the inverted chart looks very interesting here consolidation right below all time highs. We might be on the verge of a #BTC outperformance against the #StockMarket,&#8221; Kevin wrote.<a href="https://twitter.com/Kev_Capital_TA/status/1783543419253543287/photo/1"></a>
Kevin&#8217;s post was accompanied by a chart that illustrated the BTC/SPX relationship, suggesting that a significant shift might be imminent. The crypto trader is formerly known as OG_Yomi on X. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> vs <a href="https://twitter.com/hashtag/SPX?src=hash&amp;ref_src=twsrc%5Etfw">#SPX</a> (S&amp;P500) on the inverted chart looks very interesting here consolidation right below all time highs. We might be on the verge of a <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> outperformance against the <a href="https://twitter.com/hashtag/StockMarket?src=hash&amp;ref_src=twsrc%5Etfw">#StockMarket</a>. <a href="https://t.co/n6lxfiIFAi">pic.twitter.com/n6lxfiIFAi</a>
&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1783543419253543287?ref_src=twsrc%5Etfw">April 25, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38377888/holding-6-ethereum-eth-could-make-you-a-millionaire-according-to-cathie-wood?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Holding 6 Ethereum (ETH) Could Make You A Millionaire, According to Cathie Wood</a>
Why It Matters: The recent market movements have been a topic of concern for many investors. Just a day before Kevin&#8217;s post, Bitcoin witnessed a significant technical indicator, prompting a <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38450026/bitcoin-sell-signal-on-12-hour-chart-sparks-concerns-analyst-warns-exercise-caution-given-">sell-off signal</a> on its 12-hour chart. This development raised concerns among traders and investors.
Despite these challenges, some traders are optimistic about Bitcoin&#8217;s future. Pseudonymous cryptocurrency trader Tim argues that Bitcoin&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38442912/bitcoins-consolidation-phase-best-met-with-zoom-out-perspective-patience-approach-says-tra">current consolidation phase is &#8220;healthy&#8221;</a> and anticipates the next leg up.
Bitcoin has been facing a series of challenges, including falling below the key $64,000 level following <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38431809/bitcoin-falls-below-64-000-following-gdp-jobless-claims-data-nervos-network-becomes-top-lo">GDP and jobless claims data</a>. Despite these challenges, the cryptocurrency has shown resilience and is currently consolidating just below its all-time high.
Renowned economist and cryptocurrency skeptic, Peter Schiff, <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38421343/peter-schiff-warns-bitcoin-hodlers-its-a-long-way-down-if-king-crypto-cant-hold-60k">warned Bitcoin holders</a> of a potential drop if the coin fails to hold the $60,000 support level.
Price Action: Bitcoin is currently trading at $64,251, reflecting a marginal decline of 0.36% over the past 24 hours. However, the cryptocurrency has surged by an impressive 45.46% year-to-date, based on data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38395178/dogecoin-could-outperform-bitcoin-thanks-to-consolidation-in-the-golden-pocket-says-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Could Outperform Bitcoin Thanks To Consolidation In The Golden Pocket, Says Trader: &#8216;This Is A Very Good Sign&#8217;</a>
Image Via Pixabay
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Global

$BTC

Bitcoin Could Outperform S&P 500, Says Crypto Analyst: 'The Inverted Chart Looks Very Interesting'

U.S. Treasury Secretary, Janet Yellen, expressed confidence in the U.S. economy, predicting inflation to return to normal levels by 2024. She also discussed potential strategies to counter threats from China&#8217;s excess industrial capacity.
What Happened: In an interview on Thursday, Yellen stated that the U.S. economic growth might be stronger than the weaker-than-expected data on first-quarter output suggests, Reuters reported. She also mentioned that the Biden administration is keeping all options open to respond to threats from China&#8217;s excess industrial capacity.
Yellen downplayed the recent surge in inflation, stating that it does not indicate a need for unemployment to increase or other areas of the economy to cool down. 
&#8220;The U.S. economy continues to perform very, very well,&#8221; she said.
&#8220;The fundamentals here are in line with inflation continuing back down to normal levels.&#8221;
See Also: <a href="https://www.benzinga.com/news/earnings/24/04/38399089/nasdaq-futures-get-a-lift-from-tesla-texas-instruments-earnings-analyst-points-to-key-catalyst-for-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nasdaq, S&amp;P 500 To Open Higher After Tesla, TI Earnings: What&#8217;s Driving Stock Futures?</a>
On the topic of China&#8217;s overcapacity, Yellen stated that no option was &#8220;off the table&#8221; for dealing with this threat to the U.S. economy. She emphasized that it is crucial for China to recognize the concern and begin to act to address it.
Why It Matters: The U.S. economy&#8217;s performance and inflation rates have significant implications on consumer spending, investment spending, and overall economic health.
The U.S. economy <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">grew at a slower pace</a> than expected in the first quarter of the year, with an annualized growth rate of 1.6%. This slowdown was accompanied by <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">an increase in price pressures,</a> indicating a potential stagflation scenario.
Yellen&#8217;s concerns about China&#8217;s industrial overcapacity are not new. She earlier <a href="https://www.benzinga.com/news/24/04/38146989/treasury-secretary-janet-yellen-sees-flood-of-chinese-exports-wiping-out-us-green-energy-industry">expressed worry about Chinese industrial policies </a>leading to a flood of cheap clean-energy product exports, potentially wiping out important US industries.
Read Next: <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?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Private Sector Growth Unexpectedly Slows In April, Marks Lowest Increase In 4 Months: &#8216;Drivers Of Inflation Have Changed&#8217;</a>
Photo by Dustin Blitchok
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Macro Economic Events

Economics

General

Janet Yellen Sees Inflation Normalizing This Year But Doesn't Take Eye Off China's Industrial 'Overcapacity'

The Federal Trade Commission or FTC has accused top executives at&nbsp;Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) including founder Jeff Bezos and CEO Andy Jassy of deleting text messages that could have been used as evidence in the <a href="https://www.benzinga.com/government/23/07/33430801/ftc-v-amazon-all-you-need-to-know-about-the-upcoming-high-profile-antitrust-lawsuit">ongoing antitrust investigation</a>.
What Happened: In a court filing on Thursday, FTC alleged that Bezos and Jassy used the encrypted messaging platform Signal to communicate between&nbsp;April 2019 and May 2022. The messages were set to disappear, effectively erasing potential evidence for the FTC&#8217;s antitrust case against Amazon, the agency said, <a href="https://www.bloomberg.com/news/articles/2024-04-26/amazon-s-bezos-jassy-deleted-chats-despite-ftc-antitrust-probe?srnd=technology-vp">reported</a>&nbsp;Bloomberg. 
Other executives who communicated via&nbsp;Signal include&nbsp;David Zapolsky, Amazon&#8217;s top lawyer;&nbsp;Jeff Wilke, Amazon&#8217;s&nbsp;retail czar until 2021; and&nbsp;Dave Clark, a&nbsp;logistics executive who left in&nbsp;2022 after Bezos handed the&nbsp;reins to Jassy.
See Also:&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/04/38397316/elon-musk-says-morgan-freeman-is-awesome-after-american-actor-says-hes-a-huge-fan-of-tesla-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Morgan Freeman Is &#8216;Awesome&#8217; After American Actor Says He&#8217;s A Huge Fan Of Tesla CEO: &#8216;What He&#8217;s Done, Nobody Else Has Ever Done&#8217;</a>
The FTC&#8217;s court filing builds on allegations&nbsp;made in its antitrust complaint&nbsp;against Amazon last fall. The filing seeks information about Amazon&#8217;s instructions to employees regarding the use of Signal and the retention of messages.
Amazon&#8217;s spokesman&nbsp;Tim Doyle&nbsp;refuted the FTC&#8217;s claims, stating that the company had voluntarily disclosed its limited use of Signal to the FTC years ago and had&nbsp;thoroughly collected Signal conversations from&nbsp;employees&#8217; phones.
&#8220;The FTC's contentions are baseless,&#8221; Doyle said, adding, &#8220;Amazon voluntarily disclosed employees' limited Signal use to the FTC years ago, thoroughly collected Signal conversations from its employees' phones, and allowed agency staff to inspect those conversations even when they had nothing to do with the FTC's investigation.&#8221;
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.
Why It Matters: Executives turned to the encrypted messaging platform following Bezos&#8217; revelation in 2019 that his phone had been compromised, and he accused the National Enquirer of attempting to expose his private photos and messages. 
The court filing requests details on how Amazon executives instructed staff regarding the use of Signal for communication and guidelines for message retention. The FTC&#8217;s inquiry into Amazon, initiated in 2019, mandated the company to preserve and provide documents. 
However, the agency stated that executives impeded the FTC&#8217;s investigation into Amazon&#8217;s business practices and potential antitrust breaches by using Signal&#8217;s feature for vanishing messages.
Last year, in November last year, the FTC accused Amazon of <a href="https://www.benzinga.com/news/23/11/35606062/amazon-accused-of-raking-in-1-billion-through-deceptive-practices-according-to-ftc-suit">engaging in deceptive practices</a> that increased consumer prices by over a billion dollars. This was followed by the FTC&#8217;s revelation of a <a href="https://www.benzinga.com/news/23/10/35068969/ftc-exposes-amazons-hidden-algorithm-amid-antitrust-concerns">secret algorithm</a> used by Amazon to manipulate prices, which was included in the FTC&#8217;s monopoly lawsuit against the e-commerce giant.
Photo courtesy: Shutterstock
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:&nbsp;<a href="https://www.benzinga.com/news/24/04/38349837/elon-musk-agrees-every-american-household-will-have-a-1-000-per-month-home-robot-in-7-years-time?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees Every American Household Will Have A $1,000-Per-Month Home Robot In 7 Years&#8217; Time</a>
Disclaimer: 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.

Legal

AMZN

Jeff Bezos And Amazon CEO Andy Jassy Accused Of Deleting Chats Amid Antitrust Probe: 'The FTC's Contentions Are Baseless'

Sawyer Merritt, a prominent Tesla investor, recently emphasized the electric vehicle giant&#8217;s unparalleled data collection prowess, citing the staggering mileage covered by Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) owners.
What Happened: During CNBC&#8217;s &#8220;Last Call&#8221; on Thursday, Merritt highlighted that Tesla owners are now driving approximately 1 billion miles every 68 days using Full-Self Driving (FSD). This, he said, was roughly 250% increase than what the number was three months ago.
He posed a rhetorical question, &#8220;How can any automaker catch up to Tesla in terms of data gathering?&#8221; 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"Tesla owners are now driving roughly 1 billion miles every 68 days," says Tesla investor <a href="https://twitter.com/SawyerMerritt?ref_src=twsrc%5Etfw">@SawyerMerritt</a> on whether or not <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> has reached its bottom. "How can any automaker catch up to Tesla in terms of data gathering?" <a href="https://t.co/PtOvSDIHLt">pic.twitter.com/PtOvSDIHLt</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1783648512640471132?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/general/education/24/04/38388530/heres-how-much-warren-buffett-could-have-made-investing-in-tesla?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Here&#8217;s How Much Warren Buffett Could Have Made Investing In Tesla</a>
Why It Matters: Merritt&#8217;s comments come in the wake of <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 reporting a 9% year-on-year decrease</a> in Q1 revenue, which fell short of Wall Street&#8217;s estimates. Despite this, the company&#8217;s stock experienced a significant <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38415577/tesla-posts-strongest-session-since-january-2022-is-a-trend-reversal-underway">12% increase on Wednesday,</a> marking its strongest session since January 2022. This surge occurred despite the earnings miss, with investors seemingly encouraged by Tesla&#8217;s commitment to launching more affordable models and expanding its market reach.
Adding to the positive sentiment, Tesla received an <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38441703/billionaire-ron-baron-calls-the-bottom-in-tesla-stock-says-shares-will-go-up-huge-from-h">important endorsement from Bank of America</a>, which upgraded its rating on the stock from Neutral to Buy. Analyst John Murphy highlighted Tesla&#8217;s ability to address recent challenges effectively. Furthermore, billionaire investor Ron Baron believes Tesla&#8217;s stock has fallen far enough and is now set to rise significantly from current levels.
Price Action: As of Thursday, Tesla&#8217;s stock closed at $170.18, marking a 4.97% change from the previous close. 
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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 Engineered by Benzinga Neuro, Edited by 
 <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Pooja Rajkumari</a> 
 
 
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Analyst Color

Equities

TSLA

Tesla Investor Touts EV Giant's Billions-Mile Leap In Gathering Self-Driving Data: 'How Can Any Automaker Catch Up?'

The recent announcement of a dividend by 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>) during its <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">first-quarter earnings</a> has brought renewed attention to a warning from Peter Thiel, co-founder of PayPal Holdings Inc, about the future of the tech giant.
What Happened: Thiel, a prominent figure in the tech industry, had expressed concerns about the future of Google, now a subsidiary of Alphabet, back in 2012. He suggested that the company&#8217;s lack of technological innovation could lead to significant issues.
Thiel, speaking at an Aspen, Colorado event sponsored by Fortune magazine, said, &#8220;…Google is no longer a technology company, it&#8217;s basically a search engine. The search technology was developed a decade ago. It&#8217;s a bet that there will be no one else who will come up with a better search technology.&#8221;
&#8220;So, you invest in Google, because you&#8217;re betting against technological innovation in search. And it&#8217;s like a bank that generates enormous cash flows every year, but you can&#8217;t issue a dividend, because the day you take that $30 billion and send it back to people you&#8217;re admitting that you&#8217;re no longer a technology company,&#8221; Thiel added.
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Notably, Thiel conveyed to former Google CEO Eric Schmidt that the company lacked direction in its investment decisions.
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: Despite Thiel&#8217;s concerns, Alphabet has been showing strong financial performance. During the <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">first quarter of 2024</a>, the company reported a 15% year-over-year increase in revenue, totaling $80.539 billion, and a quarterly earnings of $1.89 per share, beating analyst estimates. This marked the fifth consecutive quarter in which Alphabet surpassed analyst expectations on both the top and bottom lines.
Alphabet&#8217;s CEO, Sundar Pichai, has projected a combined revenue of $100 billion from the company&#8217;s YouTube and Cloud businesses by 2024, indicating a 25% growth rate for each of the next three quarters. Pichai&#8217;s forecast suggests that Alphabet is entering a new growth phase, <a href="https://www.benzinga.com/news/earnings/24/04/38450406/gene-munster-applauds-sundar-pichais-100b-revenue-projection-for-google-parent-alphabet-a-sign-of-e">as noted by</a> Gene Munster of Deepwater Asset Management.
Furthermore, Pichai has expressed confidence in Alphabet&#8217;s ability to manage the costs associated with the new search experience, including generative answers. 
This confidence is supported by the company&#8217;s strong financial performance and its commitment to AI, as evidenced by <a href="https://www.benzinga.com/news/earnings/24/04/38450926/alphabet-cfo-underscores-googles-12b-capex-surge-reflects-our-confidence-in-the-opportunities-offer">a $12 billion capital expenditure</a> announced during the first-quarter earnings call.
Price Action: Alphabet&#8217;s Class A stock rose 11.56% to $174.04, while Class C stock rose 11.43% in after-hours trading to $176.23, according to data from&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;at the time of writing
Read Next: <a href="https://www.benzinga.com/news/24/04/38424795/amazon-pauses-green-card-sponsorship-for-foreign-workers-in-2024-amid-layoffs-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon Pauses Green Card Sponsorship For Foreign Workers In 2024 Amid Layoffs: Report</a>
Image Via Shutterstock
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.

GOOG

GOOGL

Google Parent Alphabet's Debut Dividend Sparks Reflection On PayPal Co-Founder Peter Thiel's 2012 Warning: 'You're Admitting That You're No Longer A Technology Company'

Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO&nbsp;Satya Nadella&nbsp;on Thursday announced the company&#8217;s record-breaking <a href="https://www.benzinga.com/general/gaming/24/04/38049341/microsoft-reportedly-working-on-bringing-ai-chatbot-to-xbox-to-enhance-gaming-experience">gaming performance</a> and its expansion to&nbsp;Nintendo Co., Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>) Switch and&nbsp;Sony Group Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) PlayStation.
What Happened: On Thursday, <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">during the third-quarter earnings call</a>, Nadella revealed that Microsoft had set new&nbsp;records for game streaming hours,&nbsp;console usage, and monthly active&nbsp;devices. 
The CEO also highlighted the successful addition of&nbsp;Diablo 4, the first&nbsp;Activision Blizzard, title to the&nbsp;Game Pass service. &#8220;Subscribers played over 10 million hours within the first 10 days, making it one of our biggest first-party Game Pass launches ever,&#8221; he said. 
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/04/38345502/elon-musk-reacts-after-nvidia-stock-plunges-10-and-erases-212b-market-cap-rookie-numbers?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Nvidia Stock Plunges 10% And Erases $212B Market Cap: &#8216;Rookie Numbers&#8217;</a>
He then went on to speak about the ongoing success of&nbsp;Call of Duty: Modern Warfare&nbsp;3, saying, the game has been attracting new gamers and retaining&nbsp;franchise loyalists.
Nadella also informed that Microsoft is expanding its&nbsp;games to new platforms. &#8220;Finally, we are expanding our games to new platforms, bringing four of our fan-favorite titles to Nintendo Switch and Sony PlayStation for the first time. In fact, earlier this month, we had seven games among the top 25 on the PlayStation store more than any other publisher,&#8221; he stated. 
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.
Why It Matters: Microsoft&#8217;s gaming division has been a significant driver of its overall growth. The company&#8217;s third-quarter revenue increased 17% year-over-year to $61.9 billion, beating the consensus estimate of $60.804 billion. Microsoft has now beaten analyst estimates on both the top and bottom lines in five consecutive quarters, according to&nbsp;<a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. 
The company also exceeded analyst expectations by posting quarterly earnings of $2.94 per share, compared to the forecasted $2.82 per share.
This success comes on the heels of Microsoft&#8217;s acquisition of Activision Blizzard. Nadella had previously expressed enthusiasm for the acquisition, emphasizing the <a href="https://www.benzinga.com/general/gaming/24/01/36682941/microsofts-satya-nadella-activision-gives-us-a-chance-of-being-a-good-publisher-on-sony-nintendo">opportunity to become a &#8220;good publisher&#8221;</a> across various platforms, including rival consoles like Sony and Nintendo. 
Earlier this month, six months after the acquisition,&nbsp;<a href="https://www.benzinga.com/general/gaming/24/04/38342845/can-blizzard-keep-its-autonomy-post-microsoft-acquisition-no-one-asking-us-to-do-anything-says-wor">Blizzard executives revealed</a>&nbsp;that Microsoft had largely allowed Blizzard to maintain its autonomy.
MSFT Price Action: <a href="https://www.benzinga.com/quote/MSFT" target="_blank" rel="noreferrer noopener">Microsoft shares</a> were up 4.31% after hours at $416.25 at the time of publication, according to Benzinga Pro.
Photo by WEF on Flickr
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:&nbsp;<a href="https://www.benzinga.com/news/24/04/38351566/mark-zuckerberg-didnt-sell-facebook-for-1b-but-would-he-have-sold-for-5t-this-was-meta-ceos-thought?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Didn&#8217;t Sell Facebook For $1B But Would He Have Sold For $5T? This Was Meta CEO&#8217;s Thought Process</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.

Gaming

ATVI

NTDOY

Sony Group Corporation American Depositary Shares

SONY

Microsoft CEO Satya Nadella Highlights Record-Breaking Gaming Performance, Expansion To Nintendo Switch, Sony PlayStation

In the recent earnings call, Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) announced a significant increase in its capital expenditure, reflecting the company&#8217;s strong <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">financial performance and its commitment to AI</a>.
What Happened: Alphabet&#8217;s CFO Ruth Porat revealed a $12 billion capital expenditure during the company&#8217;s first-quarter earnings call. This substantial investment signifies the company&#8217;s confidence in the potential of AI across its business.
&#8220;Our reported capex in the first quarter was $12 billion, once again driven overwhelmingly by investment in our technical infrastructure with the largest component for servers followed by data centers. The significant year-on-year growth in capex in recent quarters reflects our confidence in the opportunities offered by AI across our business,&#8221; Porat said.
The earnings call also highlighted the company&#8217;s financial results for the first quarter. The consolidated revenues stood at $80.5 billion, marking a 15% increase year-over-year. The growth was primarily driven by the strength in search and cloud services.
Porat also underscored the impact of restructuring charges and employee severance on the total expenses. The company&#8217;s operating income saw a significant rise, reaching $25.5 billion, a 46% increase from the previous year.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38376705/doge-shiba-and-other-memecoins-fueling-mass-adoption-of-bases-l2-network-coinbase-e?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin, Shiba Inu And Other Memecoins Fueling Mass Adoption Of Base&#8217;s L2 Network, Coinbase Exec Says: &#8216;They Are Going To Be One Of The Biggest Drivers&#8217;</a>
Within the Google Services segment, revenues reached $70.4 billion, with Google Search and other advertising revenues contributing $46.2 billion. YouTube advertising revenues also saw a substantial increase, reaching $8.1 billion.
The Google Cloud segment reported revenues of $9.6 billion, marking a 28% increase. The Other Bets segment saw revenues of $495 million, with an operating loss of $1 billion.
Why It Matters: The first-quarter earnings call reflects Alphabet&#8217;s strong financial performance and its strategic focus on AI. The company&#8217;s CEO, Sundar Pichai, had earlier <a href="https://www.benzinga.com/news/earnings/24/04/38450406/gene-munster-applauds-sundar-pichais-100b-revenue-projection-for-google-parent-alphabet-a-sign-of-e">projected a combined revenue</a> of $100 billion from its YouTube and Cloud businesses by 2024, indicating a new growth phase for the company.
Moreover, Pichai has expressed confidence in the company&#8217;s ability to manage the costs associated with the <a href="https://www.benzinga.com/news/24/04/38450393/alphabet-ceo-very-very-confident-that-it-wont-be-costly-to-serve-search-experience-with-generative-a">new search experience</a>, including generative answers. This indicates Alphabet&#8217;s commitment to innovation and its readiness to capitalize on the potential of AI.
Price Action: Alphabet's Class A stock rose 11.56% to $174.04, while Class C stock rose 11.43% in after-hours trading to $176.23, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> at the time of writing
Read Next: <a href="https://www.benzinga.com/news/24/04/38392548/ups-earnings-show-the-weight-of-170-000-salaries-while-it-learns-to-navigate-shipping-slump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">UPS Earnings Show The Weight Of $170,000 Compensation While It Learns To Navigate Shipping Slump</a>
Image Via Shutterstock
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.

Large Cap

Alphabet CFO Underscores Google's $12B Capex Surge: 'Reflects Our Confidence In The Opportunities Offered By AI'

Econ #s

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan Tokyo Core Consumer Price Index (YoY) For April 1.6% Vs. 2.2% Est.; 2.4% Prior

Reported Earlier, Japan Interest Rate Decision Unchanged At 0.10%

Reported Earlier, Australia Producer Price Index (YoY) 4.3% Vs. 4.1% Prior

Reported Earlier, Australia Producer Price Index (QoQ) 0.9% Vs. 0.9% Prior

Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO&nbsp;Satya Nadella&nbsp;addressed concerns about the demand environment for the company&#8217;s Azure cloud services during the <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">third-quarter earnings call</a>.
What Happened: During the call on Thursday, Nadella spoke about the <a href="https://www.benzinga.com/news/23/10/35333934/analysts-are-bullish-on-microsofts-azure-and-ai-growth-ahead-of-q1-earnings-heres-why">strong demand for Azure</a>, particularly in the field of artificial intelligence (AI). He noted that Azure has become a go-to platform for AI projects, which has significantly contributed to acquiring new customers. 
He highlighted three trends Microsoft is observing in Azure from the demand perspective. &#8220;Some of the logos I even referenced in my remarks, our new Azure customers. So, that&#8217;s one. The second thing that we&#8217;re also seeing is AI just doesn&#8217;t sit on its own. So, AI projects obviously start with calls to AI models, but they also use a vector database.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/04/38400945/metas-massive-1b-bet-on-nvidia-h100-gpu-cluster-will-dwarf-every-other-companys-target-but-zuckerber?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta&#8217;s Massive $1B Bet On Nvidia H100 GPU Cluster Will Dwarf Every Other Company&#8217;s Target, But Zuckerberg Reveals Original Goal Was This, Not AI</a>
He then spoke about the growth of adjacent services in Azure. &#8220;Azure Search, which is really used by even ChatGPT is one of the fastest-growing services for us. We have Fabric integration to Azure AI. And so, Cosmos DB integration. So, the data tier, the dev tools is another place where we are seeing great traction,&#8221; he said. 
Nadella also mentioned the increasing migration to Azure and the continuous optimization cycle, which involves customers spending money on new projects, leading to &#8220;continuous&#8221; growth.
Microsoft&#8217;s third-quarter revenue increased by 17% year-over-year to $61.9 billion, beating the consensus estimate of $60.804 billion. The tech giant reported quarterly earnings of $2.94 per share, which also beat analyst estimates,&nbsp;according to the data from&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">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.
Why It Matters: In February 2024, it was reported that Microsoft&#8217;s Azure cloud infrastructure was <a href="https://www.benzinga.com/news/24/02/37074492/microsofts-azure-gains-ground-on-amazons-aws">rapidly narrowing the gap</a> with&nbsp;Amazon Web Services&nbsp;(AWS), the leading cloud service provider. 
Analysts estimated that Azure, which has grown from half the size of AWS five years ago to approximately three-quarters of its size today, does not explicitly report revenue
In January this year, analysts predicted that <a href="https://www.benzinga.com/news/24/01/36790599/microsoft-azures-soaring-growth-and-ai-innovations-signal-a-bright-future-for-investors-analysts">Azure&#8217;s growth could accelerate</a> slightly to 29%-30% year-on-year, with a clear revenue path to $95 billion within two years. 
MSFT Price Action: At the time of writing, <a href="https://www.benzinga.com/quote/MSFT" target="_blank" rel="noreferrer noopener">Microsoft shares</a> were up 4.31% in the after-hours session at $416.25 after ending Thursday&#8217;s regular trading lower by 2.45%, according to Benzinga Pro.
Photo Courtesy: Wikimedia Commons
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:&nbsp;<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&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.

Satya Nadella Says Azure Search, Also Used By ChatGPT, Is 'One Of The Fastest-Growing Services' For Microsoft

Arrived, the real estate investment platform that allows individuals to buy shares in single-family rental properties, has released its financial performance report for the first quarter of 2024. The company reported a strong quarter, with investors earning more than $1.1 million in dividend income, a 16% increase from the previous quarter.
During Q1 2024, 352 individual properties paid out dividends, with single-family residential properties earning an average annualized dividend of 3.8% and vacation rental homes earning an average of 3.4%. The Arrived Single Family Residential Fund, which launched in 2023, earned an average annualized dividend of 4.0%.
Update: Arrived is launching three new properties on its platform, with a minimum investment of $100. <a href="https://www.benzinga.com/go/arrived-yf">The offerings can be previewed here</a>.&nbsp;
&#8220;Despite affordability challenges, we&#8217;re continually impressed by the resilience of the residential real estate market,&#8221; said Cameron Wu, VP of Investments at Arrived, in a statement. &#8220;While sustained higher interest rates and persistent inflation have tempered expectations for rate reductions, home prices remain steady. This underscores the importance of strategic precision and market selectivity.&#8221;
Wu also noted that Arrived is focusing on areas with strong macroeconomic tailwinds, such as population and job growth, and favorable tax schemes, aligning with the company&#8217;s strongest convictions.
In addition to strong dividend performance, Arrived also reported several product updates, including the launch of Cash Balance, which allows investors to receive dividends directly to their Arrived account and reinvest or withdraw funds at any time. The company also revamped its property pages to include a comprehensive property timeline for all single-family residential properties and vacation rentals, and implemented two-factor authentication across all investor accounts.
Share price performance was mixed during the quarter, with single-family residential properties seeing an average share price change of -1.5% from Q4 2023 to Q1 2024, and vacation rental properties experiencing an average share price change of -2.9%. However, the company emphasized that real estate tends to perform best as a long-term investment, allowing investors to navigate through various market cycles and maximize returns.
&#8220;As we enter the peak season for long-term rentals, our leases are strategically structured to mostly expire between March and June, minimizing lease-up times and maximizing new rents,&#8221; added Wu. &#8220;This positions us well to capitalize on seasonal demand for rentals. Additionally, our vacation rental portfolio is experiencing robust growth, boasting nearly 60% occupancy rates across our portfolio, with 11 properties managed internally by Arrived.&#8221;
Arrived closed Q1 2024 with a stabilized occupancy rate of 92% for single-family residential properties and 95% for properties in the Arrived Single Family Residential Fund. The company also reported strong performance in its vacation rental portfolio, with $705,777 in gross booking revenue across all operational vacation rentals in Q1.
While the real estate market faces challenges, Arrived remains optimistic about the opportunities for investors. By focusing on strategic market selection, operational enhancements, and a commitment to transparency, the company aims to continue delivering value to its investors in the coming quarters.
Investors interested in becoming fractional owners of rental properties can <a href="https://www.benzinga.com/go/arrived-yf">view offerings on the Arrived website</a>. 
Image courtesy of Arrived.

Fractional Landlords Earned Over $1.1 Million In Rent Dividends In Q1: Highlights From Arrived's Latest Performance Review

Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) CEO Pat Gelsinger expressed confidence in the company&#8217;s future, despite a disappointing <a href="https://www.benzinga.com/news/earnings/24/04/38444720/intel-shares-fall-on-q1-revenue-miss-weak-q2-eps-guidance">first-quarter performance</a>.
What Happened: Gelsinger, during the first quarter earnings call, highlighted the company&#8217;s upcoming products and their potential to regain market share.
He emphasized the significance of the Sierra Forest, Intel&#8217;s first Xeon 6 product on Intel 3, which marks a return to American soil for the company&#8217;s leading process technology after a decade. 
Gelsinger also mentioned the Granite Rapids, set to launch in the third quarter, and the Clearwater Forest, the second generation of the Ecorepart, scheduled for next year. He believes these products will help Intel regain its leadership position in the data center market.
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>
Despite the disappointing first-quarter results, Gelsinger is confident in Intel&#8217;s future, stating, &#8220;The roadmap is healthy. The execution is strong, and we&#8217;re rebuilding customer trust. They&#8217;re looking at us now and saying, &#8216;Oh, Intel is back.&#8217; And we&#8217;re quite excited by that.&#8221;
Why It Matters: Intel&#8217;s first-quarter performance was less than stellar, with the company&#8217;s <a href="https://www.benzinga.com/news/earnings/24/04/38444720/intel-shares-fall-on-q1-revenue-miss-weak-q2-eps-guidance">shares falling</a> after it reported lower-than-expected revenue and issued a weak second-quarter EPS guidance. Despite this, Gelsinger&#8217;s optimism about the company&#8217;s future could reassure investors and stakeholders.
Intel&#8217;s subsidiary, Mobileye, also faced challenges in the first quarter, with its revenue dropping by 48% due to a <a href="https://www.benzinga.com/news/earnings/24/04/38432965/intel-spinoff-mobileye-revenue-falls-amid-supply-chain-reset-ceo-optimistic-about-recovery">supply chain reset</a>. However, Mobileye&#8217;s President and CEO, Prof. Amnon Shashua, expressed optimism about the company&#8217;s recovery, indicating a potential turnaround for Intel&#8217;s overall business.
Price Action: At the time of writing, Intel&#8217;s stock price dropped 7.75% after hours to $32.39, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next: <a href="https://www.benzinga.com/news/24/04/38424795/amazon-pauses-green-card-sponsorship-for-foreign-workers-in-2024-amid-layoffs-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon Pauses Green Card Sponsorship For Foreign Workers In 2024 Amid Layoffs: Report</a>
Image Via Shutterstock
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.

INTC

Intel CEO Pat Gelsinger Aims To Regain Lost Ground After Disappointing Results: 'The Road Map Is Healthy'

Private Markets Outlook: Rapid Intensification

Mergers And Acquisitions In 2024: Headwinds To Tailwinds?

Buyout Shops Take Risky Exit To Bypass Deal Crash

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Bloomberg published an <a href="https://www.bloomberg.com/news/articles/2024-03-11/nvidia-etf-that-delivers-double-gains-sees-record-flows-volume?srnd=undefined">article</a> on March 11 about the GraniteShares 2x Long NVDA Daily ETF (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvdl-stock-quote/">NVDL</a>). Without further reading, I immediately thought this was one of the exchange traded funds (ETFs) to avoid as the S&amp;P 500 hits all-time highs. I&rsquo;ve got nothing against the good people at GraniteShares. I just don&rsquo;t think it&rsquo;s a good idea for average investors to use leverage in its investments to achieve juiced-up returns.&nbsp;



The ETF provides investors with twice the daily return of NVDA. It&rsquo;s become very popular as Nvidia&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) fortunes have risen from artificial intelligence (AI) related revenues. From March 4 to March 8, NVDL brought in $252 million in new money. According to Morningstar.com, it has <a href="https://www.morningstar.com/etfs/xnas/nvdl/quote">$1.9 billion</a> in net assets.&nbsp;



There are two other things I don&rsquo;t like about the ETF.&nbsp;



First, it charges <a href="https://graniteshares.com/institutional/us/en-us/etfs/nvdl/">1.15%</a>, or $115 per $10,000 invested. GraniteShares will argue that the cost of arranging swap agreements with financial institutions makes the cost of active management worth it. Fair enough. It pledges <a href="https://graniteshares.com/media/wumenn4z/graniteshares-etf-trust-nvdl-summary-prospectus-pdf.pdf">35 to 45%</a> of its net assets as collateral to obtain the swaps. You&rsquo;ll want to read the prospectus before buying. There are risks involved beyond the typical actively managed ETF.&nbsp;



Secondly, single-stock ETFs have only been around since the summer of 2022. There hasn&rsquo;t been enough time to study whether they do what they should. I&rsquo;d avoid them.&nbsp;&nbsp;



Here are three other ETFs to avoid.



<h2>iShares Virtual Work and Life Multisector ETF (IWFH)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/12/work_from_home_1600-300x169.jpg" alt="A photo of woman working on a computer at a desk in her home. work-from-home stocks"><div>Source: Vera Petrunina/ShutterStock.com</div></div>iShares Virtual Work and Life Multisector ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/iwfh-stock-quote/">IWFH</a>) was launched at the height of the pandemic in <a href="https://www.ishares.com/us/products/315979/ishares-virtual-work-and-life-multisector-etf/">September 2020</a>. In 42 months it&rsquo;s gathered just $3 million in net assets. That&rsquo;s just one of the reasons I put it on the list of ETFs to avoid.



As the ETF&rsquo;s name suggests, it invests in companies helping keep remote work alive and well. It tracks the performance of the NYSE FactSet Global Virtual Work and Life Index, a collection of U.S. and non-U.S. companies exposed to the &ldquo;full value chain of virtual and remote entertainment, wellness and learning industries,&rdquo; its website states.&nbsp;



IWFH is expensive for a passive ETF, at 0.47%, or $47 per $10,000 invested. In August 2023, I <a href="https://investorplace.com/2023/08/3-low-cost-actively-managed-etfs-to-buy-now/">recommended</a> the JPMorgan Equity Premium Income ETF (NYSE:<a href="https://investorplace.com/stock-quotes/jepi-stock-quote/">JEPI</a>), an actively managed ETF that charges only 0.35%, 12 basis points less than IWFH. At the time, JEPI had $28.7 billion in net assets. Today, it has <a href="https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-equity-premium-income-etf-etf-shares-46641q332">$33 billion</a>. Over the past year, performance-wise, it&rsquo;s tied with IWFH. JEPI is intended to be a low-risk fund. IWFH should be beating it by a lot more.&nbsp;



Secondly, the communication and technology sectors account for nearly 70% of its net assets. It&rsquo;s essentially a tech fund. You could buy State Street&rsquo;s (NYSE:<a href="https://investorplace.com/stock-quotes/stt-stock-quote/">STT</a>) communication and technology ETFs instead at <a href="https://www.sectorspdrs.com/mainfund/xlc">0.09%</a>, 26 basis points less, with both outperforming IWFH by five-fold.&nbsp;



<h2>SPDR S&amp;P Regional Banking ETF (KRE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/banks1600-300x169.jpg" alt="Image of a grey cityscape with a large corporate building that features the word bank on it"><div>Source: Shutterstock</div></div>The contrarian in me says the SPDR S&amp;P Regional Banking ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/kre-stock-quote/">KRE</a>) is an opportunity to bet on the down-and-out U.S. regional banking industry without losing your shirt.



Down 9.8% in 2024 and 3.9% over the past five years, it&rsquo;s most certainly underperformed relative to its stablemate, the SPDR S&amp;P Bank ETF (<a href="KBE">NYSEARCA:KBE</a>). KBE has a regional bank weighting of <a href="https://www.ssga.com/us/en/individual/etfs/funds/spdr-sp-bank-etf-kbe">60.35%</a>, but still has managed to deliver a 5-year return of 10.35%, 13.47 percentage points better than KRE.&nbsp;



As <a href="https://investorplace.com/2024/03/stop-3-reasons-why-you-should-never-ever-buy-bank-stocks/">I recently discussed</a>, <a href="https://investorplace.com/industries/financial/bank/">bank stocks</a> are a tricky breed. They&rsquo;re not like <a href="https://investorplace.com/industries/consumer-discretionary/">consumer discretionary stocks</a>, where it&rsquo;s much easier to determine a business&rsquo;s future success. As we&rsquo;ve seen with New York Community Bank (NYSE:<a href="https://investorplace.com/stock-quotes/nycb-stock-quote/">NYCB</a>), there are many moving parts, making it much tougher to delineate between a quality bank and a bank about to fail like SVB Financial.



Now, if you must dabble in regional bank stocks, do it through KBE or KRE, where diversification will help you.



<h2>ProShares Global Listed Private Equity ETF (PEX)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/08/bdc1600-300x169.png" alt="Business Development Company BDC concept is shown by businessman."><div>Source: wsf-s / Shutterstock.com</div></div>I have recommended <a href="https://investorplace.com/2019/08/7-ways-to-play-private-equity-without-being-a-billionaire/">private equity-focused ETFs</a> in the past. I wish I hadn&rsquo;t. Here are three reasons why.&nbsp;



First, the fees are high, especially when you consider the sub-par performance. ProShares Global Listed Private Equity ETF (BATS:<a href="https://investorplace.com/stock-quotes/pex-stock-quote/">PEX</a>) has existed since 2013 and charges 2.79%. Invesco Global Listed Private Equity ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/psp-stock-quote/">PSP</a>) launched in 2006. It managed to gather $225 million because it charged a more reasonable 1.06%.



Secondly, both ETFs invest in many Business Development Companies (BDCs). Securities regulations require them to return at least <a href="https://www.investopedia.com/terms/b/bdc.asp">90%</a> of their taxable income to shareholders. That&rsquo;s great for income as they tend to invest in senior debt of middle-market companies rather than equity. But it doesn&rsquo;t deliver the level of equity exposure private equity is known for.&nbsp;



Lastly, performance has been sub-par, as I mentioned previously. Over the past five years, PEX is down 12%. PSP is up 12.4% and the S&amp;P 500 gained 84.29% over the same period. KKR &amp; Co (NYSE:<a href="https://investorplace.com/stock-quotes/kkr-stock-quote/">KKR</a>) and Blackstone (NYSE:<a href="https://investorplace.com/stock-quotes/bx-stock-quote/">BX</a>), two of the major holdings of PSP, are up 304.7% and 263.8%, respectively.&nbsp;



If you&rsquo;re going to invest in private equity, go direct.&nbsp;Otherwise, consider them on the list of ETFs to avoid.



On the date of publication, Will Ashworth did not have (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<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> Publishing Guidelines</a>.
<div>Will Ashworth has written about investments full-time since 2008. Publications where he&rsquo;s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/03/3-etfs-to-avoid-as-the-sp-500-hit-an-all-time-highs/">3 ETFs to Avoid as the S&amp;P 500 Hit an All-Time Highs</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.