 Stock (OTC:ZIVZF), Trade Ideas

News

VCXB

10X Capital Venture Acquisition Corp. III Receives NYSE Notice Regarding Late Form 10-K Filing

GrafTech Shareholder Nilesh Undavia Issues Open Letter To Shareholders; Asks To Vote On The Blue Proxy Card

Guidance

KMPR

Kemper Sees Prelim Q1 2024 Estimated Net Income And Adj. Consolidated Net Operating Income $65M-$75

Enova International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENVA#NYSE">ENVA</a>) reported quarterly earnings of $1.91 per share which beat the analyst consensus estimate of $1.72 by 11.05 percent. This is a 14.37 percent increase over earnings of $1.67 per share from the same period last year. The company reported quarterly sales of $609.889 million which beat the analyst consensus estimate of $584.416 million by 4.36 percent. This is a 26.20 percent increase over sales of $483.256 million the same period last year.

Earnings

Earnings Beats

ENVA

Enova International Q1 2024 Adj EPS $1.91 Beats $1.72 Estimate, Sales $609.889M Beat $584.416M Estimate

KKR Real Estate Finance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KREF#NYSE">KREF</a>) reported quarterly earnings of $0.39 per share which beat the analyst consensus estimate of $0.34 by 14.71 percent. This is a 17.02 percent decrease over earnings of $0.47 per share from the same period last year. The company reported quarterly sales of $39.144 million which missed the analyst consensus estimate of $43.683 million by 10.39 percent. This is a 15.92 percent decrease over sales of $46.554 million the same period last year.

Earnings Misses

KREF

KKR Real Estate Finance Q1 2024 Adj EPS $0.39 Beats $0.34 Estimate, Sales $39.144M Miss $43.683M Estimate

Headquartered in Jackson, Mississippi, FBBINSURANCE is one of the top five largest bank-affiliated insurance agencies in the country and one of the largest agencies in the Southeast.&nbsp;The transaction is pending regulatory approval and standard closing conditions, and is expected to close during the&nbsp;second quarter&nbsp;of 2024.

Marsh McLennan Agency Agrees To Acquire Fisher Brown Bottrell Insurance (FBBINSURANCE) From Trustmark National Bank For ~$315.9M Cash

Macro Economic Events

Commodities

Econ #s

Economics

Markets

API Weekly Crude Oil Stock 3.230M Barrel Draw vs 1.8M Barrel Build Est.

Range Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RRC#NYSE">RRC</a>) reported quarterly earnings of $0.69 per share which beat the analyst consensus estimate of $0.57 by 21.05 percent. The company reported quarterly sales of $718.227 million which beat the analyst consensus estimate of $659.308 million by 8.94 percent. This is a 15.79 percent decrease over sales of $852.861 million the same period last year.

Range Resources Q1 2024 Adj EPS $0.69 Beats $0.57 Estimate, Sales $718.227M Beat $659.308M Estimate

Asset Sales

TRMK

Trustmark National Bank Enters Agreement To Sell Fisher Brown Bottrell Insurance, Inc. Subsidiary To Marsh & McLennan Agency For $345M In Cash; Deal Expected To Close By End Of Q2

BIMI

BIMI International Medical Announces Receipt Of Delinquency Compliance Alert Notice From Nasdaq

The dividend is payable by the Company on May 8, 2024, to stockholders of record on May 22, 2024.

Dividends

AMAL

Amalgamated Financial Plans 50% Increase In Quarterly Dividend From $0.10 To $0.15 Per Share

Management

HCI Group Announces Five-Year Employment Agreement With CEO Paresh Patel

The Real Good Food Receives Nasdaq Notice Regarding Minimum Bid Price Requirements

Roblox Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) shares are trading higher Tuesday after JPMorgan upgraded the stock from Neutral to Overweight and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38382984/roblox-analyst-turns-bullish-as-trends-appeared-to-materially-pick-up-in-march">raised its price target from $41 to $48.</a>
The Details: JPMorgan analyst Cory Carpenter <a href="https://www.benzinga.com/quote/RBLX/analyst-ratings">upgraded</a> Roblox from Neutral to Overweight and raised the price target from $41 to $48. 
Carpenter noted the company has generated over 20% bookings growth in each of the past four quarters and said the company could report first-quarter bookings of $927 million, representing 20% year-on-year growth.&nbsp;
Also, Benchmark reiterated its Buy rating on Roblox and maintained a $50 price target, and Stifel maintained its Buy rating and $53 price target.
Roblox is set to report its first-quarter financial results on May 9 before the bell. According to estimates from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, analysts expect the company to report a loss of 53 cents per share and quarterly revenue of $922.967 million.&nbsp;
Related News: <a href="https://www.benzinga.com/news/24/04/38360358/whats-going-on-with-luxury-ev-maker-lucids-stock">What&#8217;s Going On With Luxury EV-Maker Lucid&#8217;s Stock?</a>
<h1 class="wp-block-heading">RBLX Stock Forecast in 2030</h1>
Predicting the future of stock prices over long periods of time is challenging. Wall Street analysts use complex models that take into account interest rates, economic growth, competitive advantages, management teams and historical profitability, among a host of other factors.
If, as an investor, you want to assume most of the major factors remain stable, you can use trend analysis as a helpful tool. Using a longer-term trend line or historical performance of the stock, you can aim to forecast a stock's annual rate of return.
For Roblox, over the past five years, it's annualized stock performance is -12.84%, and if you assume that trend continues for another five years, you can expect a stock to trade at $18.49.
Using a trend line (see how to <a href="https://www.benzinga.com/23/01/30335939/a-guide-on-how-to-identify-trend-reversals">perform this function here</a>), If you choose to use a trend line, connect your two points and look into the future to the point in time in which you're curious. Once you've identified that stock price, you may want to consider what type of conditions would need to exist for the stock to justify the share price — be it an outside influence or managerial decision-making.
RBLX Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Roblox shares were up 5.83% at $36.30&nbsp;at market close Tuesday.
Photo: Courtesy of Roblox Corp.

Gaming

Movers

Trading Ideas

RBLX

Why Roblox Stock Is Up Today

Amalgamated Financial Corp. Increase Quarterly Dividend To $0.15/Share

MTDR

Matador Resources Anticipates Achieving High End Of Its 2024 Guidance Range For Total Oil And Natural Gas Equivalent Production, Oil Production And Natural Gas Production

WIIM

STLD

Steel Dynamics are trading higher following a Q1 EPS beat.

Pebblebrook Hotel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEB#NYSE">PEB</a>) reported quarterly earnings of $0.21 per share which beat the analyst consensus estimate of $0.15 by 40 percent. This is a 90.91 percent increase over earnings of $0.11 per share from the same period last year. The company reported quarterly sales of $314.069 million which beat the analyst consensus estimate of $303.776 million by 3.39 percent. This is a 2.73 percent increase over sales of $305.719 million the same period last year.

Pebblebrook Hotel Q1 2024 FFO $0.21 Beats $0.15 Estimate, Sales $314.069M Beat $303.776M Estimate

Electric vehicle leader Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) reported first-quarter financial results after the <a href="https://www.benzinga.com/calendars/earnings">market close Tuesday.</a>
Here are the key highlights.
What Happened: Tesla reported first-quarter revenue of $21.0 billion, which was down 9% year-over-year. The revenue total missed a Street consensus estimate of $22.15 billion, according to <a href="https://www.benzinga.com/pro/feature/newsfeed?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348">data from Benzinga Pro.</a>
Automotive revenue was $17.38 billion in the quarter, down 13% year-over-year. Services and other revenue of $2.29 billion rose 25% year-over-year.
The company said revenue was impacted by lower average selling prices and lower vehicle deliveries in the quarter.
Earnings per share were 45 cents in the quarter, which missed a Street consensus estimate of 51 cents per share.
<a href="https://www.benzinga.com/markets/equities/24/04/38047077/tesla-stock-dives-as-q1-deliveries-disappoint-but-ev-giant-reclaims-top-spot-from-chinese-rival" target="_blank" rel="noreferrer noopener">First-quarter deliveries </a>and production of 386,810 units and 433,371 units, respectively, declined year-over-year and quarter-over-quarter. The figures were also below estimates from analysts.
The company said challenges in the first quarter included an arson attack at Gigafactory Berlin, the ramp-up of the Model 3 in Fremont and the Red Sea conflict.
Tesla also said global electric vehicles face pressure.
The company saw energy storage of 4,053 MWh in the first quarter, which was up 4% year-over-year.
Supercharger locations totaled 6,249 at the end of the quarter, up 26% year-over-year.
The company reported digital assets of $184 million in the quarter, in line with past quarters.  
Related Link: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38367087/tesla-q1-earnings-preview-is-ev-giant-no-longer-a-growth-stock-analysts-cautious-wa">Tesla Q1 Earnings Preview: Is EV Giant No Longer A &#8216;Growth Stock?&#8217; Analysts Cautious, Want Answers About Robotaxis, Model 2</a>
What's Next: Tesla recently <a href="https://www.benzinga.com/news/24/04/38361822/tesla-layoffs-hit-marketing-team-retracts-advertising-push">announced job cuts</a> that could be a key topic on the conference call later Tuesday.
"We recently undertook a cost-cutting exercise to increase operational efficiency. We also remain committed to company-wide cost reduction, including reducing COGS per vehicle," the company said.
Tesla said it is focused on profitable growth going forward.
A WARN notice said Tesla terminated 6,020 employees at its factories Tuesday, according to Reuters. 
A slide in the investor report said the Tesla ecosystem is "more than just vehicles," highlighting Humanoid robots, artificial intelligence, full self-driving, ride-hail, energy storage, solar, insurance and more.
"We have been investing in the hardware and software ecosystems necessary to achieve vehicle autonomy and a ride-hailing service," the company said of artificial intelligence.
Tesla said it will continue to invest in core AI infrastructure in the coming months.
For its outlook, the company said it is between two growth waves that will see 2024 vehicle volume growth wind up "notably lower" than the 2023 growth rate.
The company said it has liquidity to fund its product roadmap, expansion plans and other expenses moving forward.
"We have updated our future vehicle line-up to accelerate the launch of new models ahead of our previously communicated start of production in the second half of 2025." This includes more affordable models and a next-generation platform, the company said.
A next-gen vehicle is listed as in development in Tuesday&#8217;s shareholder letter. 
"This update may result in achieving less cost reduction than previously expected but enables us to prudently grow our vehicle volumes in a more capex efficient manner during uncertain times."
TSLA Price Action: Tesla shares are up 5% to $152.20 in after-hours trading Tuesday versus a 52-week trading range of $138.80 to $299.29.
Read Next: <a href="https://www.benzinga.com/general/education/24/04/38388530/heres-how-much-warren-buffett-could-have-made-investing-in-tesla">Here&#8217;s How Much Warren Buffett Could Have Made Investing In Tesla</a>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="&#x1f534;WATCH LIVE: Tesla Q1 2024 Earnings Call &#x7C; $TSLA" width="500" height="281" src="https://www.youtube.com/embed/xoCrPnI-o6s?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Photo courtesy of Tesla.

Equities

Tech

TSLA

Tesla Q1 Earnings Highlights: EV Giant Misses Wall Street Estimates, Makes Cost Cuts, Invests In AI, Speeds Launch Of New Models

The Company updated its expectation of 2024 total sales volume to 2,100 &ndash; 2,200 Bcfe, which assumes 1 Bcf/d of operated production curtailments through May and embeds future curtailment optionality dependent on market conditions. The Company reiterates its maintenance capital expenditures of&nbsp;$1,950&nbsp;&ndash;&nbsp;$2,050&nbsp;million&nbsp;in 2024 and strategic growth capital expenditures, which target opportunistic, high-return water, midstream and other infrastructure and land opportunities, are expected to total&nbsp;$200&nbsp;&ndash;&nbsp;$300 million&nbsp;in 2024.

EQT Expects Q2 Total Sales Volume To Be 455-505 Bcfe

ZC SP ETN REDEXH 04/12/2030 USD 100 - 22542D829