Today is Thursday, April 18, 2024.

The Early Bird Index today is 68.06.

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CSX Sees "Favorable Trends"

The transportation company CSX (Nasdaq: CSX) jumped 2.90% in after-hours trading on Wednesday after posting good financial results.

Financials: CSX reported earnings of 46 cents per share in the past quarter and revenue of $3.68 billion; both were better than expected.

Details: Total volume ticked up by 3%. Intermodal volume jumped 7% while merchandise volume was flat.

Quote: “Looking ahead, with favorable trends across many of the markets we serve, we are eager to build on our momentum over the rest of the year and beyond.” - CEO Joe Hinrichs.

Final Thoughts: CSX is down about 1% this year. It’s a slow time in transportation, with other companies falling behind. However, CSX is finding ways to grow.

Notables

Notable Earnings Today: Netflix (Nasdaq: NFLX), Blackstone (NYSE: BX), PPG Industries (NYSE: PPG), KeyCorp (NYSE: KEY), D.R. Horton (NYSE: DHI), Alaska Air (NYSE: ALK), Apogee Enterprises (Nasdaq: APOG), Badger Meter (NYSE: BMI), Comerica (NYSE: CMA), Marsh & McLennan (NYSE: MMC), Snap-On (NYSE: SNA), Texas Capital (Nasdaq: TCBI), Ally Financial (NYSE: ALLY), Western Alliance Bancorp (NYSE: WAL), Genuine Parts (NYSE: GPC), Home Bancshares (NYSE: HOMB), Iridium Communications (Nasdaq: IRDM), Manpower (NYSE: MAN), Alpine Income Property Trust (NYSE: PINE), Elevance Health (NYSE: ELV), First Western Financial (Nasdaq: MYFW), Glacier Bancorp (NYSE: GBCI), Infosys (NYSE: INFY), Intuitive Surgical (Nasdaq: ISRG), Metropolitan Commercial (NYSE: MCB), Provident Financial Services (NYSE: PFS), SB Financial Group (Nasdaq: SBFG).

Notable IPOs Today: Centuri Holdings, Inc. (NYSE: CTRI), Ibotta, Inc. (NYSE: IBTA), Serve Robotics Inc. Common Stock (Nasdaq: SERV), Mingteng International Corporation Inc. Ordinary Shares (Nasdaq: MTEN), CDT Environmental Technology Investment Holdings Limited ordinary shares (Nasdaq: CDTG).

Notable Equity Crowdfunding Campaigns Ending Today: Colive (SMBX), Hard Training Club (Honeycomb), Teeccino (Wefunder), Succession Fermentory (Honeycomb), KeenaBela (Honeycomb), Pizza Brain (Honeycomb), Sowilo Retreat (Honeycomb).

Notable Economic Events Today: Jobless Claims (8:30 a.m. ET), Philadelphia Fed Manufacturing Index (8:30 a.m. ET), Philly Fed Employment (8:30 a.m. ET), Existing Home Sales (10:00 a.m. ET), US Leading Index (10:00 a.m. ET), Fed's Balance Sheet (4:30 p.m. ET).

Las Vegas Sands Fails to Impress

Despite posting good financial results on Wednesday, Las Vegas Sands (NYSE: LVS) fell 3.05% in after-hours trading.

Financials: Las Vegas Sands reported earnings of 75 cents per share in the past quarter and revenue of $2.96 billion; both were better than expected.

Details: Marina Bay Sands, the company’s casino in Singapore, produced a record financial performance. The company’s business in Macau recovered a bit, but it still wasn’t enough for investors, especially considering that these results happened during the Lunar New Year.

Final Thoughts: Las Vegas Sands was down 2% this year before the results. There are still so many questions about Macau operations.

Equifax Posts Poor Outlook

Equifax (NYSE: EFX) reported mixed financial results on Wednesday, with shares declining 9.54% in after-hours trading.

Outlook: The problem with Equifax is that it only anticipates revenue to grow as much as 8.5% in the current quarter, which is lower than expected.

Final Thoughts: Equifax is down in 2024. The company’s bad year is getting worse.

Trends to Watch

The Great Bitcoin Debate: What Is Bitcoin Meant to Hedge? (CoinDesk)

Can’t Fight Inflation: What Went Wrong With US Inflation (Bloomberg)

Elon Needs Cash: Tesla Tries to Revive Elon Musk’s Big Payday After Court Rejected It (Wall Street Journal)

Good Results: Alcoa Stock Rises on Solid Earnings. Now for Transformation. (Barron’s)

A Weighty Solution: Sleep Apnea Reduced in People Who Took Weight-Loss Drug, Eli Lilly Reports (New York Times)

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_{The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.}