Welcome to Extreme Investor Network, where we provide you with the latest updates on companies making headlines in the financial world. Today, we bring you a recap of some key movers and shakers in the market.
Taiwan Semiconductor Manufacturing (TSMC) recently reported strong first-quarter results, beating revenue and profit expectations. Despite this, U.S.-traded shares of the chipmaker fell 2.4% due to some production challenges. However, TSMC remains optimistic about healthy growth in 2024 and has guided second-quarter revenue to a promising range.
Tesla saw its stock dip over 2% after a Deutsche Bank downgrade, citing concerns about delays in new vehicle releases. On the other hand, D.R. Horton, a leading homebuilder, exceeded expectations in its fiscal second quarter, leading to a 3.3% jump in its stock price.
Alaska Air and Blackstone also made positive strides with better-than-expected first-quarter results, while Alcoa beat revenue expectations despite posting a wider-than-expected loss. E-commerce companies eBay and Etsy had contrasting fortunes, with eBay receiving a double upgrade from Morgan Stanley and Etsy facing a downgrade from the same firm.
In the health sector, Elevance Health reported an earnings beat and raised its full-year guidance, leading to a 3.3% increase in its shares. Zoom Video Communications also saw a 2% rise after an upgrade from Rosenblatt Securities.
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