Short interest for Advanced Micro Devices gives investors a sense of the degree to which investors are betting on the decline of Advanced Micro Devices's stock. Short interest data is updated every two weeks.

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Advanced Micro Devices

Advanced Micro Devices designs a variety of digital semiconductors for markets such as PCs, gaming consoles, data centers, industrial, and automotive applications, among others. AMD's traditional strength was in central processing units, CPUs, and graphics processing units, or GPUs, used in PCs and data centers. Additionally, the firm supplies the chips found in prominent game consoles such as the Sony PlayStation and Microsoft Xbox. In 2022, the firm acquired field-programmable gate array, or FPGA, leader Xilinx to diversify its business and augment its opportunities in key end markets such as the data center and automotive.

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Starbucks Reports Downbeat Earnings, Joins Skyworks Solutions, Super Micro Computer And Other Big Stocks Moving Lower In Wednesday&#39;s Pre-Market Session

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Su claimed that AMD&#39;s MI300X GPUs offer better inferencing performance and significant total cost of ownership advantages compared to Nvidia&#39;s H100 GPUs.

Nvidia&#39;s AI Leadership Challenged As AMD Claims Superior Inference Performance With MI300 Chip: &#39;Partners Are Seeing Very Strong Performance&#39;

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Cathie Wood&#39;s Ark Invest Buys Shares Of Tesla Rival BYD, Continues Accumulating Palantir — Also Acquires AMD Shares

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U.S. stock futures were lower this morning, with the Nasdaq futures falling over 100 points on Wednesday.
Shares of Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) fell sharply in today's pre-market trading following weaker-than-expected <a href="https://www.benzinga.com/news/earnings/24/04/38534321/starbucks-q2-earnings-revenue-miss-eps-miss-comps-down-4-and-more">second-quarter earnings</a>.
Starbucks said second-quarter revenue decreased 2% year-over-year to $8.6 billion, which missed the consensus estimate of $9.129 billion, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a> The company reported quarterly earnings of 68 cents per share, which missed analyst estimates of 79 cents per share.
Starbucks shares dipped 12.1% to $77.79 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>CVRx Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVRX#NASDAQ">CVRX</a>) shares dipped 29.1% to $11.00 in pre-market trading after the company reported worse-than-expected first-quarter financial results.</li>
<li>Leggett &amp; Platt, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEG#NYSE">LEG</a>) tumbled 12.8% to $15.75 in pre-market trading after the company posted weaker-than-expected results for its first quarter.</li>
<li>Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) shares declined 12.7% to $93.00 in pre-market trading after the company reported second-quarter financial results and issued third-quarter revenue guidance with the midpoint below estimates.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares fell 9% to $781.50 in pre-market trading following mixed third-quarter financial results.</li>
<li>Polestar Automotive Holding UK PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSNY#NASDAQ">PSNY</a>) shares declined 6.5% to $1.30 in pre-market trading. Polestar delayed annual report due to accounting errors.</li>
<li>Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) shares fell 6.1% to $148.68 in pre-market trading as the company reported first-quarter results and issued revenue guidance for the second quarter.</li>
<li>Hut 8 Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUT#NASDAQ">HUT</a>) fell 5.8% to $7.40 in pre-market trading. Hut 8 is expected to review first quarter results on Wednesday May 15.</li>
<li>Astera Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>) shares declined 5.2% to $80.35 in pre-market trading.</li>
<li>Bloom Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BE#NYSE">BE</a>) shares fell 3.1% to $10.78 in pre-market trading.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/05/38542052/investor-sentiment-falls-dow-snaps-five-month-win-streak">Investor Sentiment Falls, Dow Snaps Five-Month Win Streak</a>
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>

Starbucks Reports Downbeat Earnings, Joins Skyworks Solutions, Super Micro Computer And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) CEO Lisa Su highlighted the company&#8217;s AI hardware&#8217;s superior performance over NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and its potential to cut customer costs during the first quarter earnings call this year.
What Happened: Su claimed that AMD&#8217;s MI300X GPUs offer better inferencing performance and significant total cost of ownership (TCO) advantages compared to Nvidia&#8217;s H100 GPUs. 
She also noted that the MI300X GPUs could deliver the same amount of compute with 45% fewer servers than the competition, potentially reducing initial capex by up to half and lowering annual opex by more than 40%.
&#8220;Our partners are seeing very strong performance in their AI workloads. As we jointly optimize for their models, MI300X GPUs are delivering leadership, inferencing performance and substantial TCO advantages compared to H100,&#8221; Su said.
See Also: <a href="https://www.benzinga.com/government/24/04/38488235/supreme-court-drivers-hauling-baked-goods-are-in-transportation-not-baking?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Supreme Court: Drivers Hauling Baked Goods Are in Transportation, Not Baking</a>
She added, &#8220;For instance, several of our partners are seeing significant increases in tokens per second when running their flagship LLMs on MI300X compared to H100.&#8221;
Why It Matters: AMD&#8217;s first quarter earnings call comes on the heels of a <a href="https://www.benzinga.com/news/earnings/24/04/38534910/amd-investors-pull-back-after-modest-q1-beat-ceo-touts-ai-chip-ramp-up">modest beat and lukewarm guidance</a>, which caused a pullback in the stock. Despite this, Su&#8217;s remarks about the MI300X GPUs&#8217; performance and cost advantages could help bolster investor confidence in the company&#8217;s AI hardware.
Earlier in April, <a href="https://www.benzinga.com/news/24/04/38115757/amds-mi300-chip-gains-momentum-analyst-predicts-strong-growth-and-server-market-success">analyst predictions</a> about the MI300 chip&#8217;s strong growth and success in the server market had already set a positive tone for AMD&#8217;s AI hardware. Su&#8217;s recent comments further reinforce the potential of AMD&#8217;s AI hardware in the market.
Price Action: AMD stock traded lower in after-hours trading, with a decrease of 6.91% to $147.43 on Tuesday. Nonetheless, the stock has seen a 14.29% increase year-to-date, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38519395/goldman-sachs-tempers-investor-excitement-on-tesla-self-driving-not-yet-an-eyes-off?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Goldman Sachs Tempers Investor Excitement On Tesla Self-Driving Tech In China: &#8216;Not Yet An Eyes-Off, Unsupervised Product&#8217;</a>
Image Via Shutterstock 
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Nvidia's AI Leadership Challenged As AMD Claims Superior Inference Performance With MI300 Chip: 'Partners Are Seeing Very Strong Performance'

On Tuesday, Cathie Wood-led Ark Invest made significant trades, with the most prominent ones involving BYD Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) and Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>).
The BYD Co. Trade
Ark Invest, through its ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>), purchased 18,748 shares of BYD Co Ltd. Based on the closing price of $54.47 on the same day, the estimated value of this trade is approximately $1.02 million. This move comes in the wake of a debate between the late billionaire investor Charlie Munger and Wood over the superiority of Tesla, Inc and BYD in the electric vehicle market.
Wood had defended Tesla, a key holding of Ark Innovation ETF, arguing that the <a href="https://www.benzinga.com/news/23/02/30972092/cathie-wood-chimes-in-on-the-tesla-vs-byd-debate-charlie-munger-and-many-on-wall-street-1">lower costs associated with technologically enabled innovation</a> in batteries and drivetrains would cause a boom in unit demand. This move by Ark Invest may indicate a broader strategy to capitalize on the growing electric vehicle market.
The Palantir Trade
Ark Invest also made a significant move in Palantir purchasing 45,453 shares through its ARKQ ETF. With a closing price of $21.97 on the same day, the trade is valued at approximately $1 million. This follows a <a href="https://www.benzinga.com/markets/equities/24/04/38477354/cathie-woods-ark-invest-hoards-palantir-stock-ahead-of-q1-earnings-adds-more-of-this-buffett-bac">previous acquisition</a> of Palantir shares ahead of the company&#8217;s first-quarter earnings report, scheduled for May 5, 2024.
Analysts expect Palantir to report earnings per share of 8 cents on revenue of $625.33 million, representing an increase from the previous quarter.
See Also: <a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Is Hawkish Shift On Inflation Imminent? Wall Street Analysts, Traders Brace For Fed Impact</a>
Other Key Trades:
<ul>
<li>Ark Invest bought 1,658 shares of Advanced Micro Devices Inc (AMD) through its ARKQ fund in a transaction valued at $262,594. Notably, the purchase came on the same day the company declared its first-quarter earnings numbers. The results came <a href="https://www.benzinga.com/news/earnings/24/04/38534910/amd-investors-pull-back-after-modest-q1-beat-ceo-touts-ai-chip-ramp-up">slightly ahead</a> of investor expectations. </li>
<li>Ark Invest sold shares of 2U Inc (TWOU) from its ARK Innovation ETF (ARKK). </li>
<li>Trimble Inc (TRMB) shares were reduced from the ARKQ. Shares of Kratos Defense and Security Solutions Inc (KTOS) were sold from the ARKQ fund. </li>
</ul>
Read Next: <a href="https://www.benzinga.com/markets/asia/24/04/38481364/chinas-big-banks-halt-russia-transactions-over-us-sanctions-forcing-firms-to-resort-to-underground-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">China&#8217;s Big Banks Halt Russia Transactions Over US Sanctions, Forcing Firms To Resort To &#8216;Underground&#8217; Channels: Report</a>
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Cathie Wood's Ark Invest Buys Shares Of Tesla Rival BYD, Continues Accumulating Palantir — Also Acquires AMD Shares

On Tuesday, the main U.S. stock indexes closed lower, with the Dow Jones Industrial Average finishing down 1.5% at 37,815.92, the S&amp;P500 falling by 1.6% to 5,035.69, and the Nasdaq declining by 2.04% to 15,657.82 at the end of the day&#8217;s trading session.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)
Amazon shares fell by 3.29% to close at $175, after reaching an intraday high of $182.99 and a low of $174.8. The e-commerce giant reported <a href="https://www.benzinga.com/news/earnings/24/04/38534302/amazon-q1-earnings-highlights-revenue-beat-eps-beat-aws-hits-100-billion-annual-run-rate-and-more">first-quarter net sales </a>of $143.3 billion, a 13% increase year-over-year, beating the Street consensus estimate. 
Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)
AMD shares dipped by 1.14% to close at $158.38, with an intraday high of $162.29 and a low of $158.35. The chipmaker reported first-quarter results <a href="https://www.benzinga.com/news/earnings/24/04/38534910/amd-investors-pull-back-after-modest-q1-beat-ceo-touts-ai-chip-ramp-up">slightly ahead of expectations</a>, thanks to record data center revenue. However, the stock retreated in after-hours trading due to lukewarm second-quarter revenue guidance. 
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38519395/goldman-sachs-tempers-investor-excitement-on-tesla-self-driving-not-yet-an-eyes-off?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Goldman Sachs Tempers Investor Excitement On Tesla Self-Driving Tech In China: &#8216;Not Yet An Eyes-Off, Unsu</a>
Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)
Super Micro shares fell by 3.54% to close at $858.80, after hitting an intraday high of $910.84 and a low of $851.08. The company reported third-quarter earnings of $6.65 per share, a 307.98% increase YoY, <a href="https://www.benzinga.com/news/earnings/24/04/38535630/super-micro-shares-dip-on-mixed-q3-results-eps-beat-sales-miss">beating the analyst consensus estimate</a>. However, quarterly sales of $3.85 billion missed the consensus estimate. 
Starbucks Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>)
Starbucks shares saw a slight increase of 0.18% to close at $88.49, with an intraday high of $88.99 and a low of $87.18. The company reported a 2% YoY decrease in second-quarter revenue to $8.6 billion, <a href="https://www.benzinga.com/news/earnings/24/04/38534321/starbucks-q2-earnings-revenue-miss-eps-miss-comps-down-4-and-more">missing the consensus estimate</a>. Comparable store sales declined 4% globally.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares dropped by 5.55% to close at $183.28, after reaching an intraday high of $190.95 and a low of $182.84. The shares <a href="https://www.benzinga.com/news/24/04/38527242/tesla-stock-is-trading-lower-tuesday-whats-going-on">pulled back</a> after rallying more than 15% on Monday following the company&#8217;s progress on its full self-driving technology rollout in China. 
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: <a href="https://www.benzinga.com/news/24/04/38490818/if-you-invested-1000-in-chipotle-mexican-grill-a-decade-ago-this-is-how-much-itd-be-worth-now?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If You Invested $1000 in Chipotle Mexican Grill a Decade Ago, This is How Much It&#8217;d Be Worth Now</a>
Photo by WHYFRAME on Shutterstock

AMZN

TSLA

Amazon, AMD, Super Micro Computer, Starbucks, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Guidance

Advanced Micro Devices Exec Says Raises Forecast For Revenue From AI Chips In 2024 To $4B From Earlier Forecast Of $3.5B

AMD Says It Gained Server CPU Share In Q1; Co Raises AI Accelerator Forecast To $4B

AMD Raises AI Accelerator Forecast To $4B

Editor&#8217;s note: This story has been updated with additional details.
Chipmaker Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) reported Tuesday after the close with first-quarter results that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38517836/will-ai-ignite-amds-stock-q1-earnings-to-test-investor-confidence-today">came in slightly ahead of expectations</a> thanks to record data center revenue. The stock retreated in after-hours trading, likely due to second-quarter revenue guidance that fell short of consensus estimates on the low end. 
AMD&#8217;s Key Q1 Metrics: Santa Clara, California-based AMD&#8217;s first-quarter earnings and sales rose modestly year-over-year, although both metrics fell from the previous quarter.
Here&#8217;re how the main metrics compared to expectations:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Q1&#8217;24 Actual</td>
<td>Q1&#8217;24 Consensus&#x2A;</td>
<td>Q1&#8217;24 Guidance</td>
<td>Y-o-Y Change</td>
<td>Q-o-Q Change</td>
</tr>
<tr>
<td>Revenue</td>
<td>$5.47B</td>
<td>$5.46B</td>
<td>$5.4B +/- $300 M</td>
<td>+2%</td>
<td>-11%</td>
</tr>
<tr>
<td>Non-GAAP EPS</td>
<td>62 cents</td>
<td>61 cents</td>
<td>N/A</td>
<td>+4%</td>
<td>-19%</td>
</tr>
<tr>
<td>Non-GAAP gross margin</td>
<td>52</td>
<td>N/A</td>
<td>52%</td>
<td>+2 points</td>
<td>+1 point</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">&#x2A; according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a></figcaption></figure>
<a href="https://www.benzinga.com/news/earnings/24/04/38444720/intel-shares-fall-on-q1-revenue-miss-weak-q2-eps-guidance">Rival Intel reported last week with a slight miss on first-quarter revenue </a>and below-consensus guidance for the second quarter. Intel stock slumped over 9% in reaction to earnings. 
&#8220;We delivered strong first quarter results with our Data Center and Client segments each growing more than 80% year-over-year driven by the ramp of MI300 AI accelerator shipments and the adoption of our Ryzen and EPYC processors,&#8221; said AMD Chair and CEO Lisa Su.
&#8220;This is an incredibly exciting time for the industry as widespread deployment of AI is driving demand for significantly more compute across a broad range of markets. We are executing very well as we ramp our data center business and enable AI capabilities across our product portfolio.&#8221;
Before the earnings report was published, Rosenblatt&#8217;s Hans Mosesmann called for an in-line print, with a slight positive bias, premised on strong MI300 AI accelerator sales and EPYC experience gains in CPUs. 
AMD's Businesses – How They Fared In Q1: Data Center segment revenue landed at a record $2.3 billion, up 80% year-over-year, driven by growth in both AMD Instinct GPUs and fourth-generation AMD EPYC CPUs.&nbsp;
Analysts were bracing for a strong server compute business thanks to improving end markets and market share gains
Client segment revenue was $1.4 billion as AMD Ryzen 8000 Series processor sales remained robust even as analysts expected PC headwinds to impact results. PC shipments fell year-over-year for a second straight quarter, according to data from Gartner.
On the other hand, both Gaming and Embedded businesses reported year-over-year and sequential revenue declines, with the former impacted by weak semi-custom revenue and lower AMD Radeon GPU sales, while inventory correction at the customer level weighed down on the latter.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Q1&#8217;24 Revenue</td>
<td>% of Total Revenue</td>
<td>Y-o-Y Growth</td>
<td>Q-o-Q Growth</td>
</tr>
<tr>
<td>Data Center&nbsp;</td>
<td>$2.3B</td>
<td>42%</td>
<td>80%</td>
<td>2%</td>
</tr>
<tr>
<td>Client segment&nbsp;</td>
<td>$1.4B</td>
<td>26%</td>
<td>85%</td>
<td>(-6%)</td>
</tr>
<tr>
<td>Gaming segment</td>
<td>$922 million</td>
<td>17%</td>
<td>(-48%)</td>
<td>(-33%)</td>
</tr>
<tr>
<td>Embedded segment</td>
<td>$846 million</td>
<td>15%</td>
<td>(-46%)</td>
<td>(-20%)</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">Best Artificial Intelligence Stocks</a>
AMD guided to second-quarter revenue of $5.7 billion plus or minus $300 million and a non-GAAP gross margin of about 53% against Street estimates of $5.7 billion in second-quarter revenue.
Street expectations for fiscal year 2024 are for earnings of $3.40 per share and revenue of $24.13 billion, respectively.
AMD Price Action: AMD, which ended Tuesday&#8217;s regular session down 1.14% at $158.38, fell 4.22% to $151.70 in after-hours trading, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a> The stock hit an all-time closing high of $211.38 on March 7 but has since slipped back from the peak. For the year-to-date period, the stock has added 7.44% compared to Nvidia&#8217;s 74.48% jump and the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>)&#8217;s 11.55% gain.
Analysts are optimistic the company will rise over the next year. The average AMD analyst price target, according to TipRanks, is $203.96, suggesting over 27% upside. 
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38511785/cathie-woods-ark-goes-chip-stock-shopping-ahead-of-amd-earnings-adds-more-of-warren-buffett-back">Cathie Wood&#8217;s Ark Goes Chip-Stock Shopping Ahead Of AMD Earnings, Adds More Of Warren Buffett-Backed Chinese EV Play</a>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="&#x1f534;WATCH LIVE: Advance Micro Devices Q1 2024 Earnings Call &#x7C; $AMD" width="500" height="281" src="https://www.youtube.com/embed/BfGdCwyZC18?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Photo courtesy of AMD.

SOXX

AMD Investors Pull Back After Modest Q1 Beat, Lukewarm Guidance; CEO Touts AI Chip Ramp-Up (UPDATED)

WIIM

AMD shares are trading lower following in-line Q2 revenue guidance. Gaming and Embedded segment revenues also declined year over year.

AMD Data Center Revenue Up 80% YoY, Client Segment Up 85%, Gaming Down 48%, Embedded Down 46%

AMD Sees Q2 Revenue $5.4B-$6B vs $5.7B Est.

Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) reported quarterly earnings of $0.62 per share which beat the analyst consensus estimate of $0.61 by 1.64 percent. The company reported quarterly sales of $5.473 billion which beat the analyst consensus estimate of $5.459 billion by 0.26 percent. This is a 2.24 percent increase over sales of $5.353 billion the same period last year.

Earnings Beats

Advanced Micro Devices Q1 2024 Adj EPS $0.62 Beats $0.61 Estimate, Sales $5.473B Beat $5.459B Estimate

Advanced Micro Devices, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>) was trading flat Tuesday ahead of its first-quarter earnings print set to take place <a href="https://www.benzinga.com/calendars/earnings">after the market closes</a>.
When AMD printed its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36855665/amd-stock-slips-after-in-line-q4-lisa-su-touts-exciting-time-for-chipmaker-driven-b">fourth-quarter earnings</a> on Jan. 30, the stock dropped about 2.5% the following day and continued to trade mostly sideways until Feb. 29, when the chipmaker started to make a series of new all-time highs, which brought the stock to a new high of $227.30 on March 8.
For that quarter, AMD reported second-quarter non-GAAP earnings per share of 77 cents, in line with the consensus estimate. The semiconductor stock printed revenues of $6.17 billion, which exceeded the consensus estimate of $6.12 billion.
For the first quarter, analysts, on average, estimate AMD will report earnings of 61 cents per share on <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38517836/will-ai-ignite-amds-stock-q1-earnings-to-test-investor-confidence-today">revenues of $5.46 billion</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/04/38511785/cathie-woods-ark-goes-chip-stock-shopping-ahead-of-amd-earnings-adds-more-of-warren-buffett-back">Cathie Wood&#39;s Ark Goes Chip-Stock Shopping Ahead Of AMD Earnings, Adds More Of Warren Buffett-Backed Chinese EV Play</a>
Trending:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38528542/bitcoin-dogecoin-shiba-inu-pumped-after-the-last-fomc-meeting-will-history-repeat-on-wedne">Bitcoin, Dogecoin, Shiba Inu Pumped After The Last FOMC Meeting&mdash;Will History Repeat On Wednesday?</a>
Ahead of the event, Rosenblatt analyst Hans Mosesmann reiterated a Buy rating on AMD and a price target of $250. <a href="https://www.benzinga.com/analyst-ratings/price-target/24/04/38498428/amd-q1-earnings-preview-analysts-bullish-but-warn-of-factors-that-can-derail-the-sem">Read More&hellip;</a>
From a technical analysis perspective, AMD&#39;s stock looks neutral heading into the event, trading in an uptrend but showing signs the local top may be in.
It should be noted that holding stocks or options over an earnings print is akin to gambling because stocks can react bullishly to an earnings miss and bearishly to an earnings beat.
Bullish On AMD? Traders and Investors looking to play the possible upside in AMD stock but with diversification may choose to take a position in the <a href="https://www.benzinga.com/profile/spear-funds">Spear Alpha ETF</a> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sprx#NASDAQ">SPRX</a>). SPRX is <a href="https://spear-funds.com/index2.php?_gl=1*5s8lgz*_ga*MTMxMzY5MDc0Ni4xNzA2MTExMDk2*_ga_JVGYEV0ZB4*MTcxNDQ5NDk2OS4xNy4wLjE3MTQ0OTQ5NjkuNjAuMC4w">an actively managed fund</a> offering investors the opportunity to achieve more than passive tracking of the broader market. Some of the fund&#39;s top holdings include NVIDIA Corporation&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>), weighted at 10.71%, AMD, weighted at 7.21% and Zscaler, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zs#NASDAQ">ZS</a>), weighted at 9.59.
SPRX invests in companies capitalizing on emerging trends in industrial technology, aiming to uncover undervalued opportunities within various value chains aligned with themes such as enterprise digitalization, automation, AI, environmental focus, photonics, additive manufacturing, and space exploration. The ETF, traded on the Nasdaq exchange, targets long-term capital growth and is up about 60% over the last twelve months.
Want direct analysis? Find me in the BZ Pro lounge! <a href="http://www.benzinga.com/pro">Click here for a free trial</a>.
The AMD Chart: AMD rebounded into an uptrend on April 19 and has made a series of higher highs and a higher low to confirm the trend. The most recent confirmed higher high was formed on April 24 at $157.66 and the higher low was printed at the $146.75 mark on April 25.
<ul>
<li>On Tuesday, AMD was working to print a shooting star or doji candlestick, which could indicate the local top has occurred and the stock will trade lower on Wednesday. If that happens, bullish traders want to see AMD rebound from the $147 level, which will signal the uptrend remains intact.</li>
<li>If AMD enjoys a bullish reaction to its earnings print and rises higher on Wednesday, the stock will regain the 21-day exponential moving average (EMA), which would be bullish for continuation. If that happens, the eight-day EMA is likely to cross above the 21-day EMA, which would be bullish over the mid-term.</li>
<li>AMD has resistance above at $164.46 and at $180.01 and support below at $155.65 and at $145.29.<img alt="screenshot_591.png" src="https://www.benzinga.com/files/u278075/screenshot_591.png" style="height:355px; width:760px" /></li>
</ul>

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Short Ideas

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Technicals

SPRX

Trading Strategies For Advanced Micro Devices Before And After Q1 Earnings

Investor apprehension grips Wall Street with major indices showing midday losses on Tuesday in New York trading, ahead of the Federal Reserve&#8217;s potentially hawkish <a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa">pivot in Wednesday&#8217;s meeting. </a>
The S&amp;P 500 retraced 0.9% after a 2-day positive streak, with the tech-heavy Nasdaq 100 slightly underperforming, down 1.1%. Small caps suffered larger losses, with the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) down 1.5%. 
The stock market faced renewed pressure as economic data revealed a decline in consumer confidence and persistent wage pressures, putting further pressures on the Federal Reserve. 
The Bureau of Labor Statistics reported a 1.2% increase in the employment cost index for the first quarter of 2024, surpassing market expectations of 1% growth and accelerating from the previous three-month period&#8217;s 0.9% rise. In April, the Conference Board consumer confidence index dropped from 103.1 to 97 points, falling short of forecasts for a rise to 104.
Bonds provided little refuge to investors as yields surged in response to comments from U.S. Treasury Secretary Janet Yellen, who voiced concerns about the deficit trajectory and proposed substantial measures to address budgetary gaps.
Yields on the 2-year Treasury note breached the psychological 5% threshold, aiming for the highest close since mid-November 2023. The U.S. dollar index (DXY), as tracked Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), rose 0.6%. 
Gold tumbled 1.7%, pressured by higher yields and stronger greenback. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) plummeted over 5%, on track for its worst daily performance in four weeks amid weak sentiment on cryptocurrencies. 
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,070.03</td>
<td>-0.9%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>37,992.61</td>
<td>-1.0%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,588.95</td>
<td>-1.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,982.84</td>
<td>-1.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:39 p.m. EDT</figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.9% to $505.30, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 1.1% to $379.75 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 1.1% to $428.01, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 0.1%, marking the sole positive performance among the eleven S&amp;P 500 sectors. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was the major laggard, down 2.1%.
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell 5%, following a 15% surge Monday on the heels of news potentially clearing the full self-driving service in China. Goldman Sachs tempered some of the excitement in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38519395/goldman-sachs-tempers-investor-excitement-on-tesla-self-driving-not-yet-an-eyes-off">a note on Tuesday. </a></li>
<li>Eli Lilly Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) rose 4.6%, its strongest one-day gain since early February, as the pharmaceutical giant hiked 2024 revenue forecast. </li>
<li>Other stocks reacting to earnings were Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), down 0.5%; McDonald&#8217;s Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), down 0.2%; Eaton Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>), down 3%; Marathon Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>), down 7.5%; Trane Technologies plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TT#NYSE">TT</a>), up 5.7%; PayPal Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), up 1.2%; 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), up 3.2%; Arch Capital Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACGL#NASDAQ">ACGL</a>), up 2.8% and GE Healthcare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), down 13.4%. </li>
<li>Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) fell 4.2% on news that the company will delist from European exchanges. </li>
<li>Warner Bros. Discovery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) fell 9.3%, hitting the lowest level since February 2009, after reports that the company could lose NBA TV rights to rival Comcast Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) NBCUniversal and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</li>
<li>Notable names reporting after the close are Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc., ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), Renaissancere Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), LPL Financial Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>), Clorox Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>) and Chesapeake Energy Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>).</li>
</ul>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38526697/paramount-could-be-worth-4-or-14-per-share-in-deal-analyst-says-we-prefer-to-sit-th">Paramount Could Be Worth $4 Or $14 Per Share In Deal, Analyst Says: &#8216;We Prefer To Sit This One Out&#8217;</a>
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Stocks Dive On Fears Of Hawkish Fed; Treasury Yields Rise, Bitcoin Tumbles To $60,000: What's Driving Markets Tuesday?

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Information Technology sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>05/03/24</td>
<td>$900.00</td>
<td>$39.7K</td>
<td>21.0K</td>
<td>36.5K</td>
</tr>
<tr>
<td>AMD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/03/24</td>
<td>$170.00</td>
<td>$33.0K</td>
<td>17.7K</td>
<td>26.0K</td>
</tr>
<tr>
<td>KD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$18.00</td>
<td>$55.3K</td>
<td>2.6K</td>
<td>2.0K</td>
</tr>
<tr>
<td>DELL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$135.00</td>
<td>$47.5K</td>
<td>124</td>
<td>940</td>
</tr>
<tr>
<td>SNPS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$470.00</td>
<td>$109.6K</td>
<td>508</td>
<td>866</td>
</tr>
<tr>
<td>SMCI</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/03/24</td>
<td>$850.00</td>
<td>$26.2K</td>
<td>799</td>
<td>640</td>
</tr>
<tr>
<td>RIOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$12.00</td>
<td>$60.8K</td>
<td>9.2K</td>
<td>623</td>
</tr>
<tr>
<td>INTC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$25.00</td>
<td>$153.0K</td>
<td>6.8K</td>
<td>502</td>
</tr>
<tr>
<td>NTNX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$60.00</td>
<td>$64.6K</td>
<td>252</td>
<td>421</td>
</tr>
<tr>
<td>MSTR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/10/24</td>
<td>$1000.00</td>
<td>$167.2K</td>
<td>67</td>
<td>413</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we notice a call option trade that happens to be neutral, expiring in 3 day(s) on May 3, 2024. This event was a transfer of 50 contract(s) at a $900.00 strike. The total cost received by the writing party (or parties) was $39.7K, with a price of $795.0 per contract. There were 21052 open contracts at this strike prior to today, and today 36535 contract(s) were bought and sold. 
• For AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we notice a call option trade that happens to be bullish, expiring in 3 day(s) on May 3, 2024. This event was a transfer of 100 contract(s) at a $170.00 strike. The total cost received by the writing party (or parties) was $33.0K, with a price of $330.0 per contract. There were 17703 open contracts at this strike prior to today, and today 26011 contract(s) were bought and sold. 
• For KD (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KD#NYSE">KD</a>), we notice a put option sweep that happens to be bearish, expiring in 17 day(s) on May 17, 2024. This event was a transfer of 1229 contract(s) at a $18.00 strike. This particular put needed to be split into 29 different trades to become filled. The total cost received by the writing party (or parties) was $55.3K, with a price of $45.0 per contract. There were 2649 open contracts at this strike prior to today, and today 2004 contract(s) were bought and sold. 
• Regarding DELL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>), we observe a put option sweep with bullish sentiment. It expires in 52 day(s) on June 21, 2024. Parties traded 29 contract(s) at a $135.00 strike. This particular put needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $47.5K, with a price of $1640.0 per contract. There were 124 open contracts at this strike prior to today, and today 940 contract(s) were bought and sold. 
• For SNPS (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>), we notice a put option sweep that happens to be bullish, expiring in 52 day(s) on June 21, 2024. This event was a transfer of 166 contract(s) at a $470.00 strike. This particular put needed to be split into 30 different trades to become filled. The total cost received by the writing party (or parties) was $109.6K, with a price of $660.0 per contract. There were 508 open contracts at this strike prior to today, and today 866 contract(s) were bought and sold. 
• For SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we notice a put option trade that happens to be bearish, expiring in 3 day(s) on May 3, 2024. This event was a transfer of 5 contract(s) at a $850.00 strike. The total cost received by the writing party (or parties) was $26.2K, with a price of $5255.0 per contract. There were 799 open contracts at this strike prior to today, and today 640 contract(s) were bought and sold. 
• Regarding RIOT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>), we observe a call option sweep with bullish sentiment. It expires in 262 day(s) on January 17, 2025. Parties traded 200 contract(s) at a $12.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $60.8K, with a price of $303.0 per contract. There were 9253 open contracts at this strike prior to today, and today 623 contract(s) were bought and sold. 
• Regarding INTC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), we observe a call option sweep with bullish sentiment. It expires in 262 day(s) on January 17, 2025. Parties traded 200 contract(s) at a $25.00 strike. This particular call needed to be split into 20 different trades to become filled. The total cost received by the writing party (or parties) was $153.0K, with a price of $765.0 per contract. There were 6862 open contracts at this strike prior to today, and today 502 contract(s) were bought and sold. 
• Regarding NTNX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>), we observe a put option sweep with bearish sentiment. It expires in 17 day(s) on May 17, 2024. Parties traded 417 contract(s) at a $60.00 strike. This particular put needed to be split into 40 different trades to become filled. The total cost received by the writing party (or parties) was $64.6K, with a price of $155.0 per contract. There were 252 open contracts at this strike prior to today, and today 421 contract(s) were bought and sold. 
• Regarding MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we observe a put option trade with bearish sentiment. It expires in 10 day(s) on May 10, 2024. Parties traded 38 contract(s) at a $1000.00 strike. The total cost received by the writing party (or parties) was $167.2K, with a price of $4400.0 per contract. There were 67 open contracts at this strike prior to today, and today 413 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

DELL

INTC

MSTR

NTNX

RIOT

SNPS

10 Information Technology Stocks With Whale Alerts In Today's Session

We are in the middle of the first-quarter earnings season. This week is the second busiest of this reporting cycle, as nearly 1,300 companies are slated to report their quarterly financial numbers. Earnings results are so far better than expected.
Among the corporate giants lined up to report this week, quite a few returned more than the market&#39;s benchmark &mdash; the S&amp;P 500 Index &mdash; in the last quarter. Investment in such stocks with a favorable Zacks Rank and a good chance of beating on earnings should drive their stock prices in the near term.
<h3>Q1 Earnings Results So Far</h3>
As of Apr 26, 229 companies on the S&amp;P 500 Index reported their financial numbers. Total earnings for these index members are up 2.8% from the same period last year on 3.3% higher revenues, with 78.2% beating EPS estimates and 59.8% beating revenue estimates.
At present, total earnings of the S&amp;P 500 Index in first-quarter 2024 are expected to be up 3.8% on 3.7% higher revenues. This follows the 6.8% earnings growth on 4% higher revenues in fourth-quarter 2023 and 3.8% earnings growth on 2.2% higher revenues in third-quarter 2023.
<h3>Our Top Picks</h3>
We have narrowed our search to five large-cap stocks (market capital &gt; $10 billion) that are set to beat on earnings today after the closing bell. These stocks provided higher returns than the S&amp;P 500 in the first quarter.
Each of these stocks carries either a Zacks Rank #2 (Buy) or 3 (Hold) and has a positive Earnings ESP.
Our research shows that for stocks with the combination of a Zacks Rank #3 or better and a positive Earnings ESP, the chance of an earnings beat is as high as 70%. These stocks are anticipated to appreciate after their earnings release. You can uncover the best stocks to buy or sell before they&#39;re reported with our Earnings ESP Filter.
The chart below shows the price performance of our five picks in the last quarter.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/9a/65885.jpg?v=1046545312" /> 
Image Source: Zacks Investment Research
Advanced Micro Devices Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>) is benefiting from portfolio strength and an expanding partner base. In cloud, server CPU revenues increased year over year and sequentially as North American hyperscalers expanded fourth Gen EPYC Processor deployments to power their internal workloads and public instances.
Exiting 2023, AMD had more than 800 EPYC CPU-based public cloud instances available. AMD is benefiting from the strong adoption of EPYC CPUs for inferencing workloads for smaller models like Llama 7B, as well as the power head nodes in large training and inference clusters. AMD expects gross margin to expand in 2024.
Zacks Rank #2 Advanced Micro Devices has an Earnings ESP of +28.33%. It has an expected earnings growth rate of 29.8% for the current year. AMD recorded earnings surprises in the last four reported quarters, with an average beat of 3%.
LPL Financial Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lpla#NASDAQ">LPLA</a>) continues to benefit from efforts to increase client base. LPLA&#39;s advisory revenues (constituting 41.1% of total revenues in 2023) have been increasing over the past several years. Advisory revenues witnessed a five-year (2018-2023) compound annual growth rate (CAGR) of 18.2%.
Further, LPLA&#39;s recruiting efforts, strategic acquisitions (Allen &amp; Company and FRGIS, minority stake in Independent Advisor Alliance and planned deal to buy Atria Wealth Solutions) and solid advisor productivity are expected to keep supporting it. The launch of a no-transaction-fee exchange-traded fund (AMEX:ETF) network will also boost the value of LPLA&#39;s advisory platform. We project advisory revenues to witness a CAGR of 13% by 2026.
Zacks Rank #3 LPL Financial Holdings has an Earnings ESP of +0.71%. LPLA recorded earnings surprises in the last four reported quarters, with an average beat of 3.7%.
Republic Services Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rsg#NYSE">RSG</a>) is benefiting from ongoing trends like increasing environmental concerns and rapid industrialization. RSG has been focused on expanding its recycling volume through improved material handling processes and programs.
RSG is also focused on increasing its operational efficiency and reducing fleet operating costs by shifting to compressed natural gas collection vehicles. RSG puts consistent efforts into rewarding its shareholders through dividend payments and share repurchases.
Zacks Rank #3 Republic Services has an Earnings ESP of +0.51%. It has an expected earnings growth rate of 7.1% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.2% over the last 30 days. RSG recorded earnings surprises in the last four reported quarters, with an average beat of 8.8%.
Diamondback Energy Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fang#NASDAQ">FANG</a>) focuses on growth through a combination of acquisitions and active drilling in the lucrative Permian Basin spread over west Texas and New Mexico. While many companies employ a similar strategy, a few have been as successful as FANG.
FANG has consistently posted some of the strongest operational and financial results among independent producers. With an attractive production profile, favorable industry trends and low breakeven economics, the margin of safety on investment is very high. Further, FANG is focused on the generation of free cash flow and wealth creation.
Zacks Rank #3 Diamondback Energy has an Earnings ESP of +1.61%. It has an expected earnings growth rate of 4.6% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1.8% over the last seven days. FANG recorded earnings surprises in two out of the last four reported quarters, with an average beat of 0.7%.
ONEOK Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oke#NYSE">OKE</a>) is well-poised to gain from increasing volumes in its pipelines and fee-based commitments as production volumes are rising. OKE&#39;s expansion efforts and pipeline additions are expected to strengthen its position in the high-production region and aid future earnings. OKE&#39;s organic initiatives and diverse customer base act as tailwinds. OKE has enough financial flexibility to meet its near-term debt obligations.
Zacks Rank #3 ONEOK has an Earnings ESP of +0.70%. The Zacks Consensus Estimate for current-year earnings has improved 0.2% over the last 30 days. OKE recorded earnings surprises in three out of the last four reported quarters, with an average beat of 3.9%.
<a href="https://www.zacks.com/stock/news/2264724/5-winners-of-q1-set-to-beat-on-earnings-after-closing-bell?cid=CS-BENZ-FT-earnings_esp-2264724">To read this article on Zacks.com click here.</a>

5 Winners of Q1 Set to Beat on Earnings After Closing Bell

To gain an edge, this is what you need to know today.
<img alt="" src="https://thearorareport.com/wp-content/uploads/2024/04/2024-04-30_07h52_43.png" style="height:389px; width:624px" />
<h3>Samsung Overtakes Apple</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-fomc-meeting-samsung-overtakes-apple-tlt-mc-04302024">click here</a> for an enlarged chart of 20+ year iShares 20+ Year Treasury Bond ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tlt#NASDAQ">TLT</a>).
Note the following:
<ul>
<li>The chart shows that bonds have fallen this year.</li>
<li>The chart shows that bonds are consolidating in the mini support zone.</li>
<li>Lower bonds mean higher yields.&nbsp;Higher yields mean lower PE ratios.&nbsp;Lower PE ratios mean lower stock prices, unless earnings rise.</li>
<li>So far, due to a strong economy because of the Fed&rsquo;s second blunder and reckless spending by the government, earnings are better than expected.&nbsp;45% of S&amp;P 500 companies have reported earnings.&nbsp;About 77% are above consensus.&nbsp;This is helping the stock market to levitate.&nbsp;We have <a href="http://blog.thearorareport.com/tesla-042924/">previously described</a> the Fed&rsquo;s second blunder.&nbsp;The Fed&rsquo;s second blunder has a major impact on your investments.&nbsp;&nbsp;</li>
<li>Just released data shows more bad news on inflation.&nbsp;Employment Cost Index came at 1.2% vs. 1.0% consensus.</li>
<li>The FOMC meeting starts today.&nbsp;FOMC will announce its decision at 2pm ET tomorrow followed by Powell&rsquo;s press conference at 2:30am ET.</li>
<li>The AI phone from Samsung Electronics Co Ltd (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ssnlf#OTC">SSNLF</a>) is proving popular.&nbsp;Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) has lagged behind in AI.&nbsp;Institutions continue to sell AAPL stock. &nbsp;According to a just released report, Samsung has now taken over Apple as the largest provider of smart phones.</li>
<li>There are three notable earnings that investors should pay attention to:
<ul>
<li>Samsung has quadrupled its net profit due to demand from artificial intelligence.&nbsp;Its high bandwidth memory is flying off the shelves.&nbsp;Revenues for the quarter rose 13%.</li>
<li>Pharmaceutical giant Eli Lilly And Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lly#NYSE">LLY</a>) reported earnings better than the consensus and whisper numbers.&nbsp;Lilly is also raising its FY24 EPS projection to $13.50 - $14.00 from $12.20 - $12.70. Lilly&rsquo;s performance is due to strong sales of weight loss drugs Mounjaro and Zepbound.&nbsp;LLY stock is up about 6% as of this writing in the premarket.&nbsp; As full disclosure, LLY stock is in The Arora Report&rsquo;s ZYX Buy Model Portfolio.&nbsp; Members of The Arora Report now have a gain of 145% on LLY stock.</li>
<li>NXP Semiconductors NV (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxpi#NASDAQ">NXPI</a>), a leader in automotive semiconductors, reported earnings better than the consensus and whisper numbers.&nbsp;As full disclosure, NXPI is in The Arora Report&#39;s&nbsp;ZYX Buy Model Portfolio.&nbsp;NXPI is trading up over 4%&nbsp; as of this writing in the premarket.&nbsp;</li>
</ul>
</li>
<li>There will be another indication of demand for artificial intelligence after the market close when three important companies for AI report earnings &ndash; Advanced Micro Devices, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>), and Super Micro Computer Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smci#NASDAQ">SMCI</a>).</li>
</ul>
<h3>Europe</h3>
The Eurozone economy has avoided a recession and is resilient.&nbsp; Q1 GDP came at 0.3% quarter-over-quarter vs. 0.1% consensus.
There is selling in European stocks because of the strong GDP data weighing on rate cut expectations.
<h3>Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in AMZN.
In the early trade, money flows are neutral in AAPL and Alphabet Inc Class C (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>).
In the early trade, money flows are negative in Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>), Microsoft Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>), NVIDIA Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>), and Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>).
In the early trade, money flows are negative in SPDR S&amp;P 500 ETF Trust&nbsp;(ARCA:SPY) and Invesco QQQ Trust Series 1 (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>).
<h3>Momo Crowd And Smart Money In Stocks</h3>
The momo crowd is buying stocks in the early trade.&nbsp;Smart money is inactive in the early trade.
<h3>Gold</h3>
The momo crowd is selling gold in the early trade.&nbsp;Smart money is inactive in the early trade.
For longer-term, please see gold and silver ratings.
The most popular ETF for gold is SPDR Gold Trust (ARCA:GLD).&nbsp;The most popular ETF for silver is iShares Silver Trust (ARCA:SLV).&nbsp;
<h3>Oil</h3>
The momo crowd is buying oil in the early trade. Smart money is inactive in the early trade.
For longer-term, please see oil ratings.
The most popular ETF for oil is United States Oil ETF (ARCA:USO).
<h3>Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is trading around $61,000.&nbsp;$60,000 is a key psychological support level.&nbsp;Whales will likely try to hold bitcoin above $60,000.&nbsp;However, the momo crowd that bought bitcoin at $70,000 on hopes of bitcoin going to $100,000 after bitcoin halving is likely to panic and sell.
<h3>Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp;The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp;If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp;When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp;High beta stocks are the ones that move more than the market.
<h3>Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of seven year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter">Generate Wealth Newsletter</a>.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

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iShares Trust Barclays 20+ Year Treasury Bond Fund

FOMC Meeting Samsung Over Takes Apple, AI Demand Indication Ahead From AMD, Amazon And Super Micro

<ul>
<li>TSLA</li>
<li>PYPL</li>
<li>AMZN</li>
<li>NVDA</li>
<li>SOFI</li>
<li>DJT</li>
<li>AI</li>
<li>AAPL</li>
<li>AMD</li>
<li>META</li>
</ul>
Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
&nbsp;

SOFI

Top 10 Trending Stocks On WallStreetBets As Of April 30, 2024 (Via Swaggy Stocks)

Chipmaker Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) is <a href="https://www.benzinga.com/analyst-ratings/price-target/24/04/38498428/amd-q1-earnings-preview-analysts-bullish-but-warn-of-factors-that-can-derail-the-sem">scheduled to report its first-quarter results </a>Tuesday after the market closes. The company&#8217;s exposure to artificial intelligence technology makes its earnings a significant report to keep an eye on to confirm whether the momentum is alive and kicking. 
Key Q1 Metrics &#8211; What To Expect: Santa Clara, California-based AMD is widely expected to report a modest year-over-year increase in first-quarter earnings and revenue. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Q1&#8217;24 Consensus&#x2A;</td>
<td>Q1&#8217;24 Guidance</td>
<td>Q1&#8217;23</td>
<td>Q4&#8217;24</td>
</tr>
<tr>
<td>Revenue</td>
<td>$5.46B</td>
<td>$5.4B +/- $300 M</td>
<td>$5.35B</td>
<td>$6.17B</td>
</tr>
<tr>
<td>Non-GAAP EPS</td>
<td>61 cents</td>
<td>N/A</td>
<td>60 cents</td>
<td>77 cents</td>
</tr>
<tr>
<td>Non-GAAP gross margin</td>
<td>N/A</td>
<td>52%</td>
<td>50%</td>
<td>51%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">&#x2A; according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a></figcaption></figure>
Rosenblatt analyst Hans Mosesmann said he expects an in-line print, with a bias to the upside. His optimism is predicated on likely strength in MI300 AI accelerator sales and EPYC experience gains in CPUs. &#8220;This growth helps offset the usual seasonal weakness in PCs, as well as the ongoing weakness in FPGAs and consoles,&#8221; he said.
Data released by Gartner showed that worldwide PC shipments fell a steep 30% year-over-year to 55.2 million units in the first quarter, with the weakness blamed on oversupply, continued low PC demand amid economic uncertainties, and a lack of purchase motivation. This marked the second quarter, shipments fell year-over-year,
<a href="https://www.benzinga.com/news/earnings/24/04/38444720/intel-shares-fall-on-q1-revenue-miss-weak-q2-eps-guidance">Rival Intel reported last week a slight miss on first-quarter revenue </a>and below-consensus guidance for the second quarter. The stock slumped over 9% in earnings reaction. 
See Also: <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">Best Artificial Intelligence Stocks</a>
AMD&#8217;s Segmental Performance: AMD's four main business segments are the&nbsp;Client business,&nbsp;comprising primarily PC processor revenue, the&nbsp;Data Center&nbsp;business, which derives revenue from server processor sales,&nbsp;Gaming,&nbsp;comprising gaming processors and semi-custom products, and the&nbsp;Embedded&nbsp;segment, which caters to commercial and industrial customers.
The guidance issued in late January is as follows:
<ul>
<li>Data Center segment: flattish revenue, with a seasonal decline in server sales offset by a strong Data Center GPU ramp</li>
<li> Client, Embedded and Gaming segment: sequential decline in sales, with semi-custom revenue likely declining by a significant double-digit percentage</li>
</ul>
Wedbush analyst Matt Bryson said in a note, for AMD, first-quarter results and the second-quarter guidance were less important than management commentary regarding AI sales expectations. 
The analyst sees higher-than-expected server compute business, thanks to improving end markets and market share gains. This can outweigh any PC headwinds or a more modest Xilinx recovery, he said.
Investors were looking for MI300 revenues well above management&#8217;s $3.5-billion outlook, and the $3.75 billion Wedbush had modeled. &#8220;Given our current limited insight into management&#8217;s likely guide we are uncertain as to how the stock will react to earnings,&#8221; he said.
Wedbush continues to see AMD as best positioned to carve out a second source position vis-a-vis Nvidia.
AMD Forward Outlook: For the second quarter, the consensus estimates call for earnings of 65 cents per share and revenue of $5.32 billion.
The consensus estimates for the fiscal year 2024 are at $3.40 and $24.13 billion, respectively.
AMD Price Action: In premarket trading on Tuesday, AMD shares were up 0.86% at $161.57, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a> The stock hit an all-time closing high of $211.38 on March 7 but has since then slipped back from the peak. For the year-to-date period, the stock has added 8.68% compared to Nvidia&#8217;s 77.22% jump and the iShares Semiconductor ETF&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) 13.92% gain.
Analysts are optimistic of the company rising strongly over the next year. The average analysts&#8217; price target, according to TipRanks, is $203.96, suggesting over 27% upside from current levels.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38503300/on-semiconductor-at-cyclical-trough-after-q1-earnings-beat-analyst-sees-25-upside">ON Semiconductor At &#8216;Cyclical Trough&#8217; After Q1 Earnings Beat, Analyst Sees 25% Upside</a>

Analyst Color

Will AI Ignite AMD's Stock? Q1 Earnings To Test Investor Confidence Today

U.S. stocks appear&nbsp;to be&nbsp;on the back foot early on Tuesday, with index futures trading modestly lower in early pre-market activity. Caution&nbsp;reigns supreme as traders anxiously await the Federal Reserve&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38508875/another-rate-hike-coming-in-2024-macquarie-economists-reverse-forecast-warn-of-incr" rel="noreferrer noopener">interest rate decision</a>&nbsp;on Wednesday.&nbsp;A&nbsp;hawkish stance, either&nbsp;in the post-meeting policy statement or Fed Chair Jerome Powell&#8217;s remarks,&nbsp;could trigger a market pullback.&nbsp;&nbsp;However, recent scorching inflation data has already tempered market expectations for rate cuts.
Adding to the market&#8217;s volatility, the busy earnings season commences this week. Company&nbsp;results and their outlooks for the future could significantly impact stock prices.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.16%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.15%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.08%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.51%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Tuesday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 0.20% to $509.27,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.29% to $432.27, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From The Last Session:
Stocks closed Monday&#8217;s session on a positive note, although trading was marked by some degree of volatility. The major indices opened the session higher, as the positive momentum from Friday carried over into the new week, with Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) leading from the front. They stayed above the unchanged line for the better part of the morning before reversing course in late afternoon trading.
While apprehension ahead of the week&#8217;s key earnings and data was attributed to the weakness, the stock recovered thereafter to close higher for a second straight session. Market participants also blamed the intraday slide on an increase in the U.S. Treasury&#8217;s June quarter borrowing estimates.
The gains were led by consumer discretionary stocks, while communication services stocks dragged.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.35%</td>
<td>15,983.08</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.32%</td>
<td>5,116.17</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.38%</td>
<td>38,386.09</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.70%</td>
<td>2,016.03</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Ahead of the Fed meeting, Wharton Professor Jeremy Siegel, Senior Economist to&nbsp;WisdomTree, said in his weekly commentary, that the market is currently pricing in only slim chances of rate cuts this year. On Wednesday, the economist expects Powell to repeat the rhetoric that the central bank doesn&#8217;t have enough confidence to lower rates.
Siegel expects the press to probe as to whether the Fed was contemplating rate hikes. &#8220;Powell's answer to that may be illuminating,&#8221; he said. &#8220;It is quite possible with two more inflation prints before the June meeting, that the Fed can get enough information to signal imminent cuts. I'm not ruling out a rate cut at the June meeting.&#8221;
Fundstrat expressed confidence in the market recovery taking root. &#8220;Stocks survive &#8216;fragility test&#8217; of April. Roadmap for May more constructive = recovery towards S&amp;P 5,200,&#8221; said the firm in a post on X.
Upcoming Economic Data:
<ul>
<li>A two-day Federal Open Market Committee meeting gets underway on Tuesday, with the decision due only on Wednesday.</li>
<li>The Labor Department is scheduled to release its employment cost index for the first quarter at 8:30 a.m. EDT. Economists, on average, expect the index to climb 1% quarter-over-quarter, faster than the 0.9% increase in the fourth quarter.</li>
<li>The S&amp;P Case-Shiller and Federal House Finance Agency are due to release the results of their respective house price surveys at 9 a.m. EDT.</li>
<li>ISM-Chicago will release the results of its regional manufacturing survey at 9:45 a.m. EDT. The Chicago business barometer index is expected to rise from 41.4 in March to 45 in April. A reading below 50 shows contraction. </li>
<li>The Conference Board&#8217;s consumer confidence index, due at 10 a.m. EDT, may have eased slightly from 104.7 in March to 103.5 in April.</li>
</ul>
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus: 
<ul>
<li>F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>) fell over 9.5% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following its earnings announcement.</li>
<li>Other stocks moving on earnings are Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) (down about 4%), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) (down about 5.4%), Sensata Technologies Holding plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ST#NYSE">ST</a>) (up about 16%), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>) (down over 4%) and Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>) (down over 5%).</li>
<li>Tesla slipped over 1% following its 15%+ jump on Monday.</li>
<li>3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) and Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting earnings ahead of the market open.</a></li>
<li>Notable names reporting after the close are Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), RenaissanceRe Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>) and Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures rose modestly on Tuesday and yet traded at the sub-$83-a-barrel mark and gold futures moved sideways around the $2,300 level.
The 10-year note yield held around the 4.628% mark.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has pulled back over the past 24 hours and traded under $62,000.
Asian stocks moved about in a lackluster manner before closing on a mixed note. While the Japanese market, which reopened after a public holiday, rallied strongly, Chinese equities pulled back as investors weighed in the private-sector activity data.
The Japanese yen weakened after Monday&#8217;s surge achieved on the back of government intervention to prop up the currency. 
European markets were lower in early trading as investors digested a slew of domestic economic data. The euro area expanded more than expected in the first quarter, as the economy emerged out of a recession, and the March inflation came in line with forecasts. 
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38481553/will-earnings-cheer-continue-to-buoy-markets-apple-amazon-pfizer-coinbase-lead-flurry-of-q1-reports">Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week</a>
illustration created using artificial intelligence via MidJourney.

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