Tuesday, April 22, 2025
Apparently, we’re on track for the worst-performing April in the stock market since the Great Depression. But what’s that — ancient history? Anyway, pre-market futures are up this morning: +372 points on the Dow, +50 on the S&P 500 and +190 points on the Nasdaq. The small-cap Russell 2000 is +20 points at this hour.
Year-to-date, however, we’re still down double-digits on all major indexes aside from the Dow, which is down “only” -9.7% from the first of the year. From February 20 highs of the year, the Dow is -14%, the S&P 500 -15%, the Russell 2000 -18% and the tech-heavy Nasdaq — far and away the leading index over the previous two year — is -20% in just under nine weeks.
Zacks Rank #4 (Sell)-Rated Tesla Reports Q1 After Close
We have a nice handful of earnings results out this morning, but the big tuna in today’s Q1 periscope is
Tesla TSLA, which reports after the closing bell this afternoon. The company has only outperformed earnings estimates in one quarter of the past six, and quarterly estimates on the revenue side have swung to a negative -1.5% since just yesterday.
Tesla already reported quarterly sales numbers earlier this month, reporting negative -13% growth year over year, to 336,681 deliveries made in the quarter. CEO Elon Musk has spent much of the quarter in the White House, leading the DOGE policy of laying off government workers and shuttering U.S. agencies. There is also some evidence Musk has been using Tesla as a piggy bank of sorts for his SpaceX and xAI enterprises.
Shares of Tesla are -43% year-to-date, but still +60% from this time a year ago. This was one of the “Magnificent 7” stocks which rode the onset of the AI trade that started in early 2024. But Tesla now sees intense competition in China among domestic EV companies there, and sits on a glut of Cybertruck inventory here in the U.S.
Q1 Earnings Roundup: GE, MMM, LMT & More
Quickly,
GE Aerospace GE beat Q1 earnings estimates in today’s early release, by +18.28% to $1.49 per share. Revenues came in slightly ahead of the Zacks consensus to $9.0 billion. Shares are up +4.8% on the news, adding to the company’s +6.9% gains year to date. Full-year earnings guidance pulled back, but the aerospace firm is not being penalized for this.
Check out the updated Zacks Earnings Calendar here.3M MMM also outpaced estimates this morning in its Q1report, with earnings of $1.88 per share surpassing estimates by 11 cents per share, while matching the $5.8 billion expected in quarterly sales. Shares are up +4.7% in the wake of this release, swinging to positive levels from the start of the year.
Lockheed Martin LMT posted at strong +14% earnings beat for Q1 today, with earnings of $7.28 per share on $18.0 billion in revenues, which beat the Zacks consensus $17.76 billion (how historically American!) and grew +4% from a year ago. Shares are up modestly, still down year to date.
Verizon VZ outperformed on both top and bottom lines this morning, with Q1 earnings of $1.19 per share stepping past expectations by 4 cents per share, on $33.49 billion, which took out estimates by +0.48%. Subscriber losses were worse than anticipated, and the stock is down -1.4% in early trading. For more on VZ’s earnings, click here.
Atlanta-based homebuilder
Pulte Home PHM surpassed estimates in its Q1 report this morning, beating on the bottom line by a solid dime to $2.57 per share. Revenues of $3.89 billion posted a beat by +0.74%, though still down from the $3.95 billion in sales from a year ago. Pulte shares are up +5%, cutting its -10% year-to-date level in half. For more on PHM’s earnings, click here.
Questions or comments about this article and/or author? Click here>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Lockheed Martin Corporation (LMT): Free Stock Analysis Report GE Aerospace (GE): Free Stock Analysis Report Verizon Communications Inc. (VZ): Free Stock Analysis Report 3M Company (MMM): Free Stock Analysis Report PulteGroup, Inc. (PHM): Free Stock Analysis Report Tesla, Inc. (TSLA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
