with a 9% revenue drop, but the stock rallied big as the disappointment was well-telegraphed. Revenue declined from $23.33 billion a year earlier and from $25.17 billion in the fourth quarter. Net income dropped 55% to $1.13 billion, or 34 cents a share, from $2.51 billion, or 73 cents a share, a year ago. The drop in sales was even steeper than the company’s last decline in 2020, which was due to disrupted production during the Covid-19 pandemic. Tesla’s automotive revenue declined 13% year over year to $17.38 billion in the first three months of 2024. I’ll watch (TSLA) from the sidelines from now.
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at $69 billion for a two-year paper with a 4.898% yield. That is almost a risk-free government-guaranteed 10% yield in two years. Another $70 billion of five-year notes go on sale today. Half of this is going to foreign investors and central banks. Faith in America and the US dollar remains strong. Who else’s bonds would you rather buy? Passage of the Ukraine aid bill was probably a help.
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continuing as the powerhouse that it has been for years. GAAP Net Income Reported at $4.7 billion, showing a 10% increase year-over-year, slightly above the estimate of $4.943 billion. Visa is really a call option on the growth of the Internet. Buy (V) on dips.
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Wall Street estimates for quarterly profit and raised its annual profit forecast, betting on improved demand for its products and services used in drug development and sending shares up about 4% premarket. The company sells the shovels to the miners in the biotech industry. Buy (TMO) on dips.
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bringing new applications to a grinding halt. In one shot the market has gone for six Fed rate cuts in 2024 to zero.
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Published today in the Mad Hedge Global Trading Dispatch, the Mad Hedge Technology Letter, the Mad Hedge Biotech and Health Care Letter, the Mad Hedge AI Letter, and Jacquie’s Post:
Global Trading Dispatch
(THEY’RE NOT MAKING AMERICANS ANYMORE)
(SPY), (EWJ), (EWL), (EWU), (EWG), (EWY), (FXI), (EIRL), (GREK), (EWP), (IDX), (EPOL), (TUR), (EWZ), (PIN), (EIS)
Mad Hedge Technology Letter
(TIK TOK IN HOT WATER)
(SMCI), (NVDA), (TIKTOK), (META), (MSFT), (GOOGL), (AMZN)
Mad Hedge Biotech & Health Care Letter
(A DRUG KINGPIN HIDING IN PLAIN SIGHT)
(ABBV)
Mad Hedge Jacque's Post
(WALL STREET IS PAYING ATTENTION TO THE METALS SECTOR)
Mad Hedge AI
(NVIDIA'S CHIP SHOT)
(NVDA), (AMZN), (IBM), (GOOGL), (AMGN), (NVO)
2024 in Havana: You Have to Bring Your Own Toilet Seat
