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NEWS
Market Red Until Trump Posted This

The market was red before the trading day even started on Wednesday, after GDP data came out for the first quarter that showed the first decline in growth for 2023. President Trump took to Truth Social and said it was Biden’s fault, and by the end of the day, the market closed in a gain—art of the deal.

Jensen Huang spoke at the White House after the market closed, cheerleading the support of the White House for AI Infrastructure. According to Bloomberg, European officials plan to propose trade deals to the U.S. next week. 👀

Today's issue covers two magnificent reports from Meta and MSFT, Robinhood falls despite beat, and Macro data sucks. 📰

Here’s the S&P 500 heatmap. 8 of 11 sectors closed green, with Health care (+1.19%) leading and energy(-2.23%) lagging.

And here are the closing prices: 

EARNINGS
Two Mag Seven Giants Beat Results 💻️ 

Microsoft reported Q3 EPS of $3.46 on revenue of $70.07B. According to Yahoo Finance, analysts expected earnings of $3.22/share on revenue of $68.44B.

The firm’s cloud segment is expected to pull in $42.2B, up from $34.1B a year ago. Azure Revenue climbed 33%, above what the firm projected earlier in the quarter. Results rose from $2.94 EPS and $61.86B a year ago. Chief Satya Nadella said the firm delivered cloud revenue that climbed 22% YoY. 💲 

“Cloud and AI are the essential inputs for every business to expand output, reduce costs, and accelerate growth," Nadella said. “From AI infra and platforms to apps, we are innovating across the stack to deliver for our customers.”

Meta mostly beat expectations, and shares climbed 6% after posting results. The social media giant reported Q1 EPS of $6.43 on revenue of $42.31B. Analysts expected earnings of $5.22/share on revenue of $42.36B according to Yahoo Finance.

For the current quarter, the firm expects Q2 rev 42.5-45.5 est $44.06B. They also said they expected to spend about $1B less this year in total expenses, but spend $4-$7B more in CapEx. 🤑 

The firm did not mention allegations from the Federal government that Meta's monopolizes the personal social networking world.’ The Wall Street Journal reported that Chief Mark Zuckerberg offered to settle for $450 million, but the government won’t go lower than $18 billion.

However, the CFO, Susan Li, said on the firm’s earnings call that their upbeat guidance is based on the current conditions in April, and things are going pretty well.

Stocktwits users seemed to agree, holding at ‘extremely bullish’ during the firm’s earnings call.

If tech keeps delivering, this quarter’s earnings season might come in positive, one money manager said.

“Tomorrow we are getting Apple and Amazon, if we can get beats from them too, we can get some real momentum, Daniel Morgan, Synovus Trust Senior Portfolio Manager, told Bloomberg. 🚂 

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