This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Verizon Beats Q1 Earnings Expectations
Verizon Communications (VZ) saw a 1.5% increase in premarket trading after surpassing first-quarter net income estimates. The company reported a net income of $4.72 billion, slightly above the consensus analyst forecasts, while revenue of $32.98 billion fell slightly below expectations. Verizon’s business arm also reported its best quarterly result with 151,000 fixed wireless net additions and ended the period with 11.1 million total broadband subscribers.
Bitcoin Holds Steady After Halving Event
Following the much-anticipated fourth iteration of the bitcoin halving, Bitcoin (BTC) traded around $66,000, holding steady after the supply-curbing event. The halving reduces the rate of issuance of new bitcoin and the rewards for successful bitcoin miners, potentially impacting bitcoin prices in the long term.
Tesla Faces Challenges as EV Demand Slumps
Tesla (TSLA) shares declined by more than 3% in premarket trading after the electric-vehicle maker cut prices across its major markets, including the U.S., Germany, and China. The company is set to report its first-quarter results soon, following a sharp decline in first-quarter deliveries and challenges in the EV market, particularly in China.
U.S. Commerce Secretary Downplays Huawei’s Technological Advancements
U.S. Commerce Secretary Gina Raimondo downplayed Huawei Technologies’ latest microchip breakthrough, emphasizing the technological superiority of the U.S. in semiconductor innovation. Raimondo highlighted the U.S.’s advanced capabilities compared to China and noted that Huawei’s advancements remain behind those of the U.S.
Salesforce’s Acquisition Talks with Informatica Fall Apart
Salesforce (CRM) shares rose more than 3% in premarket trading after reports that talks to acquire data management software firm Informatica (INFA) had fizzled. The potential acquisition, which would have been among Salesforce’s largest ever, fell through as the companies couldn’t agree on terms.
📎 Read the original article on investopedia.com
