24 April 2024- One of our portfolio holdings, Boeing (BA) (Purchased 0.15 units @ $248.79) announced its first fiscal quarterly results better than expected. The analysts were expecting the adjusted loss per share to be $1.76 compared to $1.13 declared. The company also shared its revenue which is slightly above the expectations. $16.57 billion compared to the $16.23 billion estimated. Boeing had a tough year starting with their 737-MAX incident, followed by the FAA putting a restraint on the company’s output due to some issues of noncompliance in the supply chain. They lost almost 35% in value year to date. Boeing CEO Dave Calhoun, who announced that he will step down at the end of the year, expressed that their priority is to address safety concerns and that they started improving supply chain issues. Following the announcements, Boeing increased by almost 4% in the pre-market session.
On Tuesday, after markets closed, Tesla (TSLA) declared its first quarter results which were below analyst’s expectations. However, the share price of Tesla is now up by 12%. The main reason for that increase is the company’s accelerated production of more affordable EV cars. The production of more affordable EV cars was planned to start in the second half of 2025, but now the automaker is targeting late 2024 or early 2025, CEO Elon Musk said. Another positive news for investors is Tesla’s plan to improve efficiency and reduce expenses which involves laying off 10% of its workforce. After the quarterly reports, multiple institutions increased their rating and price target for Tesla.
Additional Note: I’m delighted to announce our newest addition to the club, investment strategy team. As an investment strategy team, we will aim to capture current investment/trading chances in the markets. Our articles will mainly consist of those opportunities together with their rationale and explanations. However,there may be periods where we don’t see suitable occasions in the markers.In those periods, we will focus on writing educational articles about trading/investing.
Author: Kaan Pinar