Western Alliance Bancorp (WAL) is up more than +18% today after posting a Q1 net interest income of $609.9 million. It exceeded the estimated $592.8 million. Besides, Q2 deposits remained at +$2 billion until April 14. Zions Bancorp (ZION) is also up more than -3%. Comerica and Synchrony Financial are also up more than 2%. Finally, First Republic Bank, Regions Financial, Comerica, and M&T Bank were all up by more than 1%.
CDW Corp reported Q1 preliminary net sales of roughly $5.10 billion. CDW is significantly below the consensus of $5.57 billion, down more than -13%. This led to losers in the S&P 500.
Elevance Health (ELV) is down more than -4% after projecting full-year adjusted EPS above $32.70. It fell short of the $32.79 average.
Netflix (NFLX) is down more than -3% after announcing 232.5 million streaming premium memberships in the first quarter. The consensus of 233 million did not last long. Other video streaming businesses slumped as a result of the report, with FubuTV falling more than -4% and Roku falling more than -3%.
Tesla is down more than -2% after lowering prices on its Model 3 and Model Y automobiles for the second time this month. Rivian Automotive is down more than -4%, leading losers in the Nasdaq 100, while Lucid Motor is also down more than 4%.
Chip stocks drastic fall: Demand concerns arose
Chip stocks are falling today on demand fears following the announcement by ASML NV. According to ASML, its first-quarter order intake was the lowest since 2020. ASML Holding NV is down more than -3% as a result. Besides, Global Foundries are also down more than -2%. Micron Technology, KLA Corp, and Microchip Technology follow the same path. Furthermore, Intel, Qualcomm, and NXP Semiconductors NV all went down more than 1%.
Higher than the expectation of $1.60 billion, Intuitive Surgical (ISRG) is up more than +12%. This leads gainers in the S&P 500 and Nasdaq 100.
Abbott Laboratories (ABT) is up more than 6% after posting Q1 net sales of $9.75 billion. Sales were higher than the $9.65 billion expected.
Travelers Cos (TRV) is up more than 5% to lead Dow gainers. The company announced a Q1 core EPS of $4.11, above the $3.58 expectation.
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