AT&T Stock (NYSE:T), Trade Ideas

AT&T

The wireless business contributes about two thirds of AT&T's revenue. The firm is the third-largest US wireless carrier, connecting 72 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 16% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential fixed-line services, about 11% of revenue, primarily consist of broadband internet access, serving 14 million customers. AT&T also has a sizable presence in Mexico, with 22 million customers, but this business only accounts for 3% of revenue. The firm still holds a 70% equity stake in satellite television provider DirecTV but does not consolidate this business in its financial statements.

ATT.AT&T

Earnings Misses

Price Target

Reiteration

Analyst Ratings

Movers

AT&amp;T reported earnings beat for Q1, while revenues remained flat. Analysts are optimistic about wireless performance and FCF growth.

AT&amp;T Makes Strong Start To The Year: Analysts Dial Into Q1 Results

Man's,Right,Hand,Is,Preparing,To,Pick,A,Rolled,Up

Dividends

Tired of Unreliable Dividends? Check Out These 4 High-Yield Alternatives

Earnings

Earnings Beats

News

Markets

Tech

Trading Ideas

ANET

NVDA

PINS

AT&amp;T Inc. (NYSE: T) reported modest first-quarter 2024 results, as solid wireless traction and customer additions were partially offset by lower demand for legacy voice and data services.

AT&amp;T Q1 Earnings Beat Estimates, Revenues Remain Flat Y/Y

AT&T Inc

TOMBAO ANTIQUES & ART GRP by Tombao Antiques and Art Group

TATA ELECTRONIC COS S/GDR by Tata Power Co., Ltd.

Tata Power Co Ltd

TABCORP HOLDINGS LTD ORD by TABCORP Holdings Limited

Tabcorp Holdings Ltd

TABOO TOKEN

TransAlta Corp

Tabcorp Holdings Ltd ADR

TRANSATLANTIC CAPITAL INC by TransAtlantic Capital Inc.

TransAtlantic Capital Inc

Capitol Series Trust Fairlead Tactical Sector ETF

TRANSALTA CP 1ST PFD C by TransAlta Corporation

Tetragon Acquisition Corporation I

TransAct Technologies Incorporated - Common Stock

Transact Technologies Inc

Tadiran Group Ltd

Tarsier Ltd

AB Active ETFs, Inc. AB Tax-Aware Short Duration Municipal ETF

AB Active ETFs, Inc. AB Tax-Aware Long Municipal ETF

AB Active ETFs, Inc. AB Tax-Aware Intermediate Municipal ETF

T. Rowe Price QM U.S. Bond ETF

TURNERS AUTOMOTIVE GROUP by TURNERS AUTOMOTIVE GROUP LTD.

Turners Automotive Group Ltd

TAG Immobilien AG

TRISTAR ACQUISITION GRP by Tristar Acquisition Group

Tristar Acquisition Group

Teucrium Agricultural Fund ETV

TAG IMMOBILIEN AG U/ADR by TAG Immobilien AG

TANSEISHA CO LTD ORD by Tanseisha Co., Ltd.

Tanseisha Co Ltd

TAHERA DIAMOND CORP by Tahera Diamond Corp.

Tahera Diamond Corp

TAI CHEUNG HLDGS LTD ORD by Tai Cheung Holdings Ltd.

Tai Cheung Holdings Ltd

Thai Optical Group PCL Units Non-voting depository receipts

Thai Optical Group PCL

TAIHO KOGYO CO LTD AICHI by Taiho Kogyo Co., Ltd.

Taiho Kogyo Co Ltd

Cambria Tail Risk ETF

Taiga Motors Corp

TAISHO PHARMA HLD UNS/ADR by Taisho Pharmaceutical Holdings Co Ltd

Taisho Pharmaceutical Holdings Co Ltd

Taitron Components Incorporated - Class A Common Stock

Taitron Components Inc

TAJIRI RESOURCES CORP NEW by Tajiri Resources Corp

Tajiri Resources Corp

Takeda Pharmaceutical Company Limited American Depositary Shares (each representing 1/2 of a share of Common Stock)

Takeda Pharmaceutical Co Ltd

TransAKT Ltd

TAKAMATSU CONSTRUCTION GR by TAKAMATSU CONSTRUCTION GROUP CO LTD

Takamatsu Construction Group Co Ltd

DRONE DELIVRY CDA COM&VAR by Drone Delivery CDA Corp

Drone Delivery Canada Corp

TAL Education Group American Depositary Shares

TAL Education Group

TAL-CAP INC COM by Tal-Cap, Inc.

Talkspace Inc

TALON INTERNATIONAL INC by Talon International, Inc.

Talon International Inc

Talos Energy Inc

TRANSNATIONAL GROUP INC by Transnational Group, Inc.

Transnational Group Inc

Invesco Solar ETF

TIANAN TECHNOLOGY GRP LTD by TIANAN TECHNOLOGY GROUP LTD.

Tianan Technology Group Ltd

Tantech Holdings Ltd

TANVEX BIOPHARMA INC by Tanvex Biopharma Inc.

Tanvex BioPharma Inc

IperionX Ltd

TAO HEUNG HLDGS UNSP/ADR by Tao Heung Holdings Ltd

Tao Heung Holdings Ltd

TAG Oil Ltd

Taoping Inc

Molson Coors Beverage Company Class B Common Stock

Molson Coors Beverage Co

Molson Coors Beverage Company Class A Common Stock

TAI PING CARPETS INTL by Tai Ping Carpets International

TRIPUTRA AGRO PERSADA TBK by TRIPUTRA AGRO PERSADA TBK PT

PT Triputra Agro Persada Tbk

Tapinator Inc

Tap Resources Inc

Protara Therapeutics, Inc. - Common Stock

Protara Therapeutics Inc

Taraxa

Taurus Gold Corp

AXS 2X Innovation ETF

Taro Pharmaceutical Industries Ltd. Ordinary Shares

Taro Pharmaceutical Industries Ltd

Tarot

Tarsus Pharmaceuticals, Inc. - Common Stock

Tarsus Pharmaceuticals Inc

Silver North Resources Ltd

SILVER NORTH RESOURCES by SILVER NORTH RESOURCES LTD.

TASMAN RESOURCES NL ORD by Tasman Resources NL

Tasman Resources Ltd

TaskUs Inc

Carrols Restaurant Group, Inc. - Common Stock

Carrols Restaurant Group Inc

TATYANA DESIGNS INC by Tatyana Designs, Inc.

Tata Steel Ltd

TAT Technologies Ltd

TATE & LYLE PLC ORD NEW by Tate & Lyle, PLC

Tate & Lyle PLC

TATE & LYLE PLC S/ADR by Tate & Lyle, PLC

Lamden

TAURIGA SCIENCES INC by Tauriga Sciences, Inc.

Tauriga Sciences Inc

TERRE AUX BOEUFS LAND COM by Terre Aux Boeufs Land Co., Inc.

TAV HAVALIMALARI HLDG ORD by Tav Havalimanlari Holding AS

TAV Havalimanlari Holding AS

TAV HAVLIMLRI HL UNSP/ADR by Tav Havalimanlari Holding AS

THAI AIRWAYS INTL by Thai Airways International Public Co., Ltd.

Thai Airways International PCL

American Century Diversified Municipal Bond ETF

BondBloxx ETF Trust BondBloxx IR+M Tax-Aware Short Duration ETF

Taylor Devices Inc

TAIYO HLDGS CO LTD by TAIYO HLDGS CO LTD.

Taiyo Holdings Co Ltd

TAYLOR CONSULTING INC by Taylor Consulting, Inc.

Taylor Consulting Inc

Trelleborg AB

TRELLEBORG AB UNSP/ADR B by Trelleborg AB

TEB Bancorp Inc

BBB Foods Inc

TRIAD BUSINESS BANK by Triad Business Bank

Triad Business Bank

The Bancorp Inc

AT&T Inc. 5.625% Global Notes due 2067

TBC Bank Group PLC

Thunder Bridge Capital Partners III Inc Ordinary Shares - Class A

Thunder Bridge Capital Partners III Inc

Thunder Bridge Capital Partners III Inc Units (1 Ord Share Class A & 1/5 War)

Thunder Bridge Capital Partners III Inc Warrants (01/02/2025)

Communications Workers Of America Union Says AT&T Workers Authorize Strike; CWA Members At AT&T West In District 9 Have Voted Overwhelmingly To Authorize A Strike, If Necessary

AT&amp;T Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) reported an earnings beat for the first quarter, while its <a href="https://www.benzinga.com/news/earnings/24/04/38410633/at-t-q1-earnings-beat-estimates-revenues-remain-flat-yy">revenues remained flat</a>.
The results came amid an <a href="https://www.benzinga.com/calendars/earnings">exciting earnings season</a>. Here are some key analyst takeaways from the release.
<h1 class="wp-block-heading">Scotiabank On AT&amp;T</h1>
Analyst Maher Yaghi reiterated a Sector Outperform rating while raising the price target from $22 to $22.50.
AT&amp;T's wireless performance is "off to a strong start," with 350K phone net additions during the quarter, "despite continued industry normalization in the U.S. wireless market," Yaghi said in a note.
"While pressures in the Business segment remain, growth in Consumer and Wireless are providing enough torque to produce significant FCFs to reduce leverage," the analyst stated. He added that the company recorded $3.1 billion in free cash flows during the quarter, materially higher than the Street expectation of $2.4 billion. 
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
<h1 class="wp-block-heading">BofA Securities On AT&amp;T</h1>
Analyst David Barden maintained a Buy rating and price target of $20.
"AT&amp;T once again meaningfully beat expectations on post-paid phone subscriber net adds, contributing to mounting evidence the wireless market is operating within a healthy competitive dynamic," Barden wrote in a note.
"The team continues to prioritize customer retention while investing in the &#8216;right&#8217; customers to achieve a diverse and value-accretive customer base," the analyst stated. 
He added that the company is likely to generate ARPU (average revenue per user) growth of around 1.0% sequentially in the second quarter, "as the vast majority of outage-related, one-time billing credits were charged in 1Q."
<h1 class="wp-block-heading">Oppenheimer On AT&amp;T</h1>
Analyst Timothy Horan reaffirmed an Outperform rating and price target of $21.
AT&amp;T&#8217;s results were broadly in-line with expectations, with subscriber growth and free cash flows coming in better than expectations, Horan said. "Its wireless network is better than ever, underscored by a strong performance in Mobility with 7% EBITDA growth and 9bps Y/Y improvement in churn," he added.
The company is likely to have the capacity to reduce debt by around $16 billion over the next two years, which is when it can begin repurchasing shares, the analyst stated.
T Price Action: Shares of AT&amp;T had declined by 1.40% to $16.58 at the time of publication on Thursday.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38439796/stocks-drop-tech-tumbles-with-metas-weak-outlook-q1-stagflation-fears-gold-miners-advance-">Stocks Drop, Tech Tumbles With Meta&#8217;s Weak Outlook, Q1 Stagflation Fears; Gold Miners Advance: What&#8217;s Driving Markets Thursday?</a>
Photo: Shutterstock

AT&T Makes Strong Start To The Year: Analysts Dial Into Q1 Results

Scotiabank analyst Maher Yaghi maintains AT&amp;T (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) with a Sector Outperform and raises the price target from $22 to $22.5.

Scotiabank Maintains Sector Outperform on AT&T, Raises Price Target to $22.5

Are you tired of relying solely on dividend stocks for passive income? While they can be a great source of cash flow, putting all your eggs in the stock market basket comes with serious risks. Just look at what happened with AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) in 2022.
For decades, AT&amp;T was a beacon of stability for income investors, reliably increasing its dividend year after year. But then, seemingly out of nowhere, the telecom giant slashed its payout by a staggering 47%. It was a painful reminder that even the most trusted dividend darlings can leave investors high and dry.
To be fair, AT&amp;T still offers a tempting 6.7% yield today. But its total return since the cut is a meager 3.3%, weighed down by an 8% drop in share price. The AT&amp;T saga underscores the dangers of over-relying on any one company or sector for income.
But here&#8217;s the good news: There are plenty of alternative income investments out there that can provide more stable, reliable returns without the stomach-churning volatility of the stock market. And we&#8217;ve done the legwork to uncover four of the most compelling options, with yields ranging from 6% all the way up to 14%.
<h2 class="wp-block-heading">Stable Returns for Risk-Averse Investors: The Ascent Income Fund</h2>
For the risk-averse, the Ascent Income Fund is a standout choice. This diversified real estate debt fund is capitalizing on rising interest rates and reduced lending competition to deliver a target annualized net return of 11%-12%, with quarterly distributions. By focusing on first-lien debt investments across a range of borrowers, geographies and property types, the Fund aims to mitigate risk and provide the stability income-seekers crave.
<a href="https://www.benzinga.com/go/equitymultiple-yf">Click here to learn more about the Ascent Income Fund.</a>
<h2 class="wp-block-heading">6%+ Yield for Short-Term Investors: Alpine Notes</h2>
Looking for a shorter-term play? Check out EquityMultiple&#8217;s Alpine Notes, which offer fixed annual returns of 6% to 7.4% for investment terms of just 3, 6 or 9 months. These innovative cash management tools not only provide competitive yields, but also come with First Loss Protection &#8211; meaning EquityMultiple has skin in the game, investing alongside you in a subordinate position. With over $78M invested across more than 50 Alpine Notes series, they&#8217;ve built a solid track record.
<a href="https://www.benzinga.com/go/equitymultiple-alpine-yf">Discover how much you could earn with Alpine Notes.</a>
<h2 class="wp-block-heading">Stable Income Backed by the Growing Home Equity Market: Cityfunds Yield Fund</h2>
For investors who want to tap into the booming home equity market, the Cityfunds Yield fund is an intriguing option. Targeting an 8% annualized yield (with a 7% guaranteed floor), the fund invests in a diversified pool of collateralized real estate loans, including home equity agreement-backed notes and short-term mortgage notes. With quarterly distributions and a low $500 minimum investment, it&#8217;s an accessible way to get exposure to this growing asset class.
<a href="https://www.benzinga.com/go/cityfunds-yield-YF">Explore the Yield fund</a> and other <a href="https://www.benzinga.com/go/cityfunds-yf">Cityfund offerings</a> here.
<h2 class="wp-block-heading">14% Target Yield for Growth-Oriented Investors: Express Car Wash</h2>
And for those willing to take on a bit more risk in pursuit of outsized returns, feast your eyes on the Express Car Wash investment. With a juicy 14% target return and monthly distributions, this senior loan opportunity is funding the construction of a new Flo&#8217;s Express Car Wash in a prime LA location. And it&#8217;s not just a one-off &#8211; EquityMultiple has a proven track record in the space, with eight car wash exits delivering annualized returns of 13.40% to 85.00%.
<a href="https://www.benzinga.com/go/equitymultiple-yf">Get the full scoop on the Express Car Wash investment.</a>
The bottom line? Diversifying beyond dividend stocks is a smart move for any income-focused investor. While AT&amp;T&#8217;s dividend cut dealt a blow to many portfolios, it also served as a wake-up call about the risks of over-concentration. By spreading your bets across uncorrelated alternative assets like these, you can potentially lock in more stable, reliable cash flows &#8211; without losing sleep over every market dip.
Of course, no investment is without risk, and due diligence is always a must. But if you&#8217;re looking to level up your passive income game in the wake of the AT&amp;T disappointment, these four high-yield options are a great place to start.
Check out the opportunities best suited for your investment goals and start building a more resilient income portfolio today.

AT&amp;T Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/t#NYSE">T</a>) reported modest first-quarter 2024 results, as solid wireless traction and customer additions were partially offset by lower demand for legacy voice and data services. The company recorded strong subscriber growth backed by a resilient business model and robust cash flow position, driven by a diligent execution of operational plans. AT&amp;T expects to continue investing in key areas of 5G and fiber and adjust its business according to the evolving market scenario to fuel long-term growth.
<h3>Net Income</h3>
On a GAAP basis, AT&amp;T reported net income of $3.4 billion or 47 cents per share compared to $4.2 billion or 57 cents per share in the year-ago quarter. The decline is primarily attributed to lower net sales and higher operating expenses year over year. 
Excluding non-recurring items, adjusted earnings from continuing operations were 55 cents per share compared with 60 cents in the year-ago quarter. Adjusted earnings for the first quarter beat the Zacks Consensus Estimate of 53 cents.
<div class="chart_embed">
<h3>AT&amp;T Inc. Price, Consensus and EPS Surprise <a href="https://www.zacks.com/stock/chart/T/price-consensus-eps-surprise-chart?icid=chart-T-price-consensus-eps-surprise-chart"> <img alt="AT&amp;T Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/63/1713966982.png" style="height:265px; width:577px" title="" /> </a></h3>
AT&amp;T Inc. price-consensus-eps-surprise-chart | AT&amp;T Inc. Quote
</div>
<h3>Quarter Details</h3>
Quarterly GAAP operating revenues decreased marginally by 0.4% year over year to $30 billion, largely due to declining Mobility equipment sales and lower Business Wireline Revenues, mostly offset by higher Mobility Service, Mexico and Consumer Wireline revenues. The top line fell short of the consensus mark of $30.66 billion. 
Adjusted operating income for the quarter was $6 billion compared with $5.97 billion in the prior-year quarter. This resulted in respective adjusted operating income margins of 20% and 19.8%. Adjusted EBITDA improved to $11 billion from $10.59 billion. 
AT&amp;T witnessed solid subscriber momentum with 389,000 post-paid net additions. This included 349,000 postpaid wireless phone additions. Postpaid churn was 0.89%, while postpaid phone-only average revenue per user (ARPU) increased 0.9% year over year to $55.57 due to improved international roaming, pricing actions and a transition to higher-priced unlimited plans.
<h3>Segmental Performance</h3>
Communications: Total segment operating revenues were $28.86 billion, down from $29.15 billion, as improvement in the Mobility business (marginally up 0.1% to $20.59 billion) and Consumer Wireline (up 3.4% to $3.35 billion) was offset by a decline in Business Wireline (down 7.8% to $4.91 billion). The segment revenues missed our estimates of $29.98 billion. 
Service revenues from the Mobility unit improved 3.3% to $15.99 billion, driven by solid subscriber and postpaid ARPU gains, while equipment revenues decreased 9.8% year over year to $4.6 billion due to lower sales volume. Revenues from the Consumer Wireline business were up due to a gain in fiber broadband. AT&amp;T recorded net fiber additions of 252,000 and has the ability to serve 27.1 million consumer and business customer locations in more than 100 U.S. metro areas with fiber.&nbsp; AT&amp;T Internet Air added 110,000 subscribers during the quarter. 
Revenues from Business Wireline were down due to lower demand for legacy voice and data services as customers shifted to more advanced IP-based offerings. Segment operating income was flat at $6.74 billion, matching the year-earlier quarter&#39;s tally, with operating margins of 23.4% and 23.1%, respectively. Adjusted EBITDA was $11.48 billion compared with $11.03 billion in the year-ago quarter. 
Latin America: Total operating revenues were $1.06 billion, up 20.4% year over year, due to growth in service and equipment revenues driven by favorable currency impact and higher sales. Adjusted EBITDA improved to $180 million from $145 million in the year-ago quarter for respective margins of 16.9% and 16.4%.
<h3>Cash Flow &amp; Liquidity</h3>
In the first quarter of 2024, AT&amp;T generated $7.55 billion of cash from operations compared with $6.68 billion in the prior-year period. Free cash flow at quarter end was $3.14 billion compared with $1 billion in the year-ago quarter. As of Mar 31, 2024, AT&amp;T had $3.52 billion of cash and cash equivalents with long-term debt of $125.70 billion. Net debt to adjusted EBITDA was about 2.94X.
<h3>Guidance</h3>
While optimizing operations, AT&amp;T is aiming to increase efficiencies to lower operating costs while focusing on 5G and fiber-based connectivity, along with an expanded reach of software-based entertainment platforms. For fiscal 2024, AT&amp;T has reiterated its previous guidance. Wireless service revenues are likely to improve in the vicinity of 3%, while broadband revenues are anticipated to be up in excess of 7%. 
Adjusted earnings are projected to be within $2.15 and $2.25 per share. Free cash flow in 2024 is expected to be within $17-$18 billion due to cost savings. The company is also aiming to reduce its debt burden by monetizing non-core assets. AT&amp;T firmly remains on track to pass more than 30 million fiber locations by the end of 2025.
<h3>Zacks Rank &amp; Stocks to Consider</h3>
AT&amp;T currently has a Zacks Rank #3 (Hold). 
Pinterest (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pins#NYSE">PINS</a>), sporting a Zacks Rank #1 (Strong Buy) at present, delivered a trailing four-quarter average earnings surprise of 37.42%. In the last reported quarter, it delivered an earnings surprise of 3.92%. 
Pinterest is increasingly establishing a unique value proposition to advertisers that could provide a competitive advantage in the long haul. Through various innovations, it continues to dramatically improve the advertising platform, which appears to be one of the best ad platforms for consumer discretionary brands looking for ways to reach customers and stretch smaller ad budgets. 
NVIDIA Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>), currently sporting a Zacks Rank #1, delivered a trailing four-quarter average earnings surprise of 20.18%. In the last reported quarter, it delivered an earnings surprise of 13.41%. 
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit. Over the years, the company&#39;s focus evolved from PC graphics to AI-based solutions that support high-performance computing, gaming and virtual reality platforms. 
Arista Networks, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/anet#NYSE">ANET</a>), sporting a Zacks Rank #1 at present, is likely to benefit from strong momentum and diversification across its top verticals and product lines. The company has a software-driven, data-centric approach to help customers build their cloud architecture and enhance their cloud experience. Arista has a long-term earnings growth expectation of 17.5% and delivered an earnings surprise of 13.3%, on average, in the trailing four quarters. 
It holds a leadership position in 100-gigabit Ethernet switching share in port for the high-speed datacenter segment. Arista is increasingly gaining market traction in 200 and 400-gig high-performance switching products and remains well-positioned for healthy growth in data-driven cloud networking business with proactive platforms and predictive operations.
<a href="https://www.zacks.com/stock/news/2261409/at-t-t-q1-earnings-beat-estimates-revenues-remain-flat-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2261409">To read this article on Zacks.com click here.</a>

AT&T Q1 Earnings Beat Estimates, Revenues Remain Flat Y/Y

U.S. stocks traded slightly lower toward the end of trading, with the S&amp;P 500 edging lower on Wednesday.
The Dow traded down 0.18% to 38,434.99 while the NASDAQ fell 0.09% to 15,682.38. The S&amp;P 500 also fell, dropping, 0.14% to 5,063.45.
Check This Out: <a href="https://www.benzinga.com/news/24/04/38400974/tesla-to-180-here-are-10-top-analyst-forecasts-for-wednesday">Tesla To $180? Here Are 10 Top Analyst Forecasts For Wednesday</a>
Leading and Lagging Sectors Consumer staples shares climbed by 0.8% on Wednesday.
In trading on Wednesday, industrials shares fell by 0.9%.
Top Headline
AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) reported fiscal first-quarter 2024 operating revenues of $30.03 billion, down 0.4% year over year and missing the consensus of $30.54 billion. Adjusted EPS of 55 cents beat the consensus of 54 cents.
AT&amp;T reiterated Wireless service revenue growth in the 3% range, Broadband revenue growth of 7%+, and adjusted EPS of $2.15 – $2.25 versus the $2.21 consensus.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>BranchOut Food Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOF#NASDAQ">BOF</a>) shares shot up 61% to $1.83 after the company announced it has expanded its existing relationship with the nation&#8217;s largest retailer, which brings the total annualized value of commitments from the retailer to over $8 million.</li>
<li>Shares of Amesite Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMST#NASDAQ">AMST</a>) got a boost, surging 61% to $3.2050 after the company announced the Beta release of its NurseMagic app.</li>
<li>B. Riley Financial, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RILY#NASDAQ">RILY</a>) shares were also up, gaining 44% to $31.25 after the company announced the results of an independent investigation showed the company and its executives had no involvement with, or knowledge of, any of the alleged misconduct concerning Mr. Kahn or any of his affiliates.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Evotec SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVO#NASDAQ">EVO</a>) shares dropped 33% to $5.23. The company reported FY23 financial results. Evotec announced a priority reset to optimize its business to meet evolving market demand and focus on profitable growth in 2024 and beyond.</li>
<li>Shares of Avenue Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATXI#NASDAQ">ATXI</a>) were down 31% to $0.0924 after the company announced a reverse stock split.</li>
<li>iSun, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISUN#NASDAQ">ISUN</a>) was down, falling 41% to $0.09 after the company announced a reverse stock split.</li>
</ul>
Also Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38399483/alzamend-neuro-and-2-other-stocks-under-5-insiders-are-buying">Alzamend Neuro And 2 Other Stocks Under $5 Insiders Are Buying</a>
Commodities In commodity news, oil traded down 0.9% to $82.59 while gold traded down 0.3% at $2,336.10.
Silver traded down 0.4% to $27.265 on Wednesday, while copper rose 0.6% to $4.4595.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 0.43%, London's FTSE 100 fell 0.06% while Spain's IBEX 35 Index fell 0.43% The German DAX fell 0.27% French CAC 40 fell 0.17% while Italy's FTSE MIB Index fell 0.27%.
The Ifo Business Climate indicator for Germany climbed to 89.4 in April, topping market estimates of 88.9.
Asia Pacific Markets
Asian markets closed mostly higher on Tuesday, with Japan's Nikkei 225 gaining 2.42%, Hong Kong's Hang Seng Index gaining 2.21%, China's Shanghai Composite climbing 0.76% and India's S&amp;P BSE Sensex gaining 0.16%.
Australia&#8217;s inflation rate fell to 3.6% year-over-year in the first quarter from 4.1% in the previous period.
Economics
<ul>
<li>U.S. mortgage applications declined by 2.7% from the prior week in the period ending April 19.</li>
<li>New orders for manufactured durable goods rose by 2.6% month-over-month in March compared to a revised 0.7% gain in February.</li>
<li>The EIA said crude oil inventories in the U.S. declined by 6.368 million barrels in the week ended April 19, versus market estimates of a 1.6 million gain.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/04/38400430/top-3-energy-stocks-that-may-crash-this-quarter">Top 3 Energy Stocks That May Crash This Quarter</a>

Eurozone

Commodities

Intraday Update

AMST

ATXI

ISUN

RILY

Crude Oil Moves Lower; B. Riley Financial Shares Jump

Rising Treasury yields have investors cautious despite positive news <a href="https://www.benzinga.com/calendars/earnings">from the earnings season.</a>
The yield on the long-dated 30-year Treasury bond has surged to 4.79%. It&#8217;s on track to close at the highest level since early November, ahead of crucial economic data on Thursday.
The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) fell 0.9%, extending its year-to-date drop to 10%. 
Rising yields are propelling the greenback higher, particularly against the low-yielding Japanese yen which tumbled to past 155 per dollar, hitting the lowest level since June 1990.
Tesla Inc. posted lower-than-expected results last quarter, but shares rose 10%. Investors reacted to the automaker&#8217;s pledge to produce more affordable models to broaden the market.
The S&amp;P 500 fell 0.4% by midday trading in New York; the tech-heavy Nasdaq 100 managed to hold steady; and small caps saw wider declines, with the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) down 1%. 
Gold remains unchanged, while oil prices edged up by 0.5%, despite the Energy Information Administration revealing a 6.368 million barrel drop in crude oil inventories last week, significantly below market expectations of a 1.6 million barrel increase.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 2.7% to $64,500 amid waning sentiment towards riskier assets. 
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,470.46</td>
<td>0.0%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,334.54</td>
<td>-0.4%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,048.09</td>
<td>-0.4%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,983.56</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:35 p.m. EDT</figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.5% to $503.45, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 0.4% to $383.43 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.1% lower to $424.43, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, up 0.3%. The Industrials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>) was the major laggard, down 1.5%. 
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) rose 6.5%, after beating both earnings and revenue estimates last quarter. </li>
<li>Other companies reacting to earnings were Steel Dynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) (down 2.5%), Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) (up 3.6%), Baker Hughes Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) (down nearly 2%), Chubb Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), (down over 3%), Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) (down over 10%), Norfolk Southern Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>) (down 5%), Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) (up over 6%), AT&amp;T Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) (up 1.8%), Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) (down 1.6%), CME Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CME#NASDAQ">CME</a>) (down 1.4%), General Dynamics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) (down 3.2%) and Hilton Worldwide Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) (up 4.3%). </li>
<li>Notable names reporting after the close are Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>), Western Union Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>), ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>), QuantumScape Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>), O&#8217;Reilly Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>), Meta Platforms, Meritage Homes Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>), Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), Knight-Swift Transportation Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>), International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>).</li>
</ul>
Now Read: <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38410454/treasury-yields-reach-5-month-high-lift-mortgage-rates-expert-warns-federal-debt-">Treasury Yields Reach 5-Month High, Lift Mortgage Rates; Expert Warns &#8216;Federal Debt Blob Is Out Of Control&#8217;</a>

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

Cryptocurrency

Large Cap

Macro Notification

Market Summary

Mid Cap

Bonds

Broad U.S. Equity ETFs

Small Cap

Treasuries

Economics

ETFs

$BTC

BIIB

SPDR Dow Jones Industrial Average ETF Trust

LRCX

ODFL

ORLY

STLD

iShares Trust Barclays 20+ Year Treasury Bond Fund

Select Sector SPDR-Consumer Discretionary