D.R. Horton, Trump Media & Technology Group, Tesla, and More
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Key Takeaways
U.S. equities rallied at midday Thursday, April 18, 2024, after a slew of stronger-than-expected earnings reports.
D.R. Horton shares rose after the homebuilder reported second-quarter earnings that beat estimates.
Tesla shares lost ground as its stock was downgraded by Deutsche Bank on concerns about production of the Model 2 and the company’s focus on its robotaxi.
U.S. equities bounced back from their recent slump at midday, after a slew of stronger-than-expected earnings reports. The S&P 500, Dow, and Nasdaq were all higher.
Shares of D.R. Horton (
DHI
) jumped after the home builder
beat earnings and revenue estimates
and raised its guidance as weakness in the supply of houses boosted sales.
Shares of Alaska Air Group (
ALK
) flew higher after the airline posted
better-than-expected results
and guidance as travel demand rose. The news lifted shares of rival carriers as well.
Shares of Donald Trump’s Trump Media & Technology Group (
DJT
) surged for a second-straight session after falling earlier this week to an all-time low. The operator of the Truth Social social media site told investors how to keep the stock from being loaned to
short sellers
.
Tesla (
TSLA
) shares fell as Deutsche Bank downgraded the stock and lowered the price target, citing delays in the manufacture of the EV maker’s Model 2 and its focus on building its
robotaxi
.
Shares of Equifax (
EFX
) slumped as the credit score provider posted
current-quarter guidance below forecasts
and warned a slowdown in mortgage inquiries would continue this year.
Snap-on (
SNA
) shares declined as the toolmaker’s revenue was short of estimates on a drop in demand for power tools.
Oil futures fell, while gold prices and the yield on the 10-year Treasury note advanced. The U.S. dollar gained on the euro and yen, but lost ground to the pound. Most major cryptocurrencies traded higher.
