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Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

Strong first-quarter Meta earnings push Wall Street stocks up

Meta shares were up more than seven percent $320.32 in after-market trades. (AFP)
  • About 30 minutes into trading, Meta was up around 15 percent, while all three major US indices were in positive territory.
  • The broad-based S&P 500 advanced 0.8 percent to 4,087.37, while the Nasdaq Composite Index climbed 0.9 percent to 11,960.26.

New York, United States – Wall Street stocks rose early Thursday, following strong earnings from Facebook parent Meta despite disappointing first-quarter US economic data.

About 30 minutes into trading, Meta was up around 15 percent, while all three major US indices were in positive territory.

The Dow Jones Industrial Average gained 0.7 percent to 33,526.80.

The broad-based S&P 500 advanced 0.8 percent to 4,087.37, while the tech-rich Nasdaq Composite Index climbed 0.9 percent to 11,960.26.

Meta reported a profit of $5.7 billion in the first quarter of this year, beating forecasts after a massive wave of cost-cutting and layoffs.

“Stocks are up mainly on Meta’s earnings and the banking side of things seems to be a little bit calmer today,” said LBBW’s Karl Haeling.

Among other companies reporting results, American Airlines gained 4.8 percent, Southwest Airlines dropped 5.2 percent, Caterpillar lost 3.5 percent and Norfolk Southern dipped 0.2 percent.

US gross domestic product rose at an annual rate of 1.1 percent in the January to March period, markedly less than expected and down from 2.6 percent in the final three months last year.

The figures reflected a decline in private inventory investment offset by a jump in consumer spending.