Must-read before U.S. stocks open: Three major stock index futures rise, TSMC falls more than 2%

As of press time, the Dow futures, dominated by blue-chip stocks, rose 0.24%; the S&P 500 futures rose 0.25%; the Nasdaq 100 futures, dominated by technology stocks, rose 0.29%.

Popular Chinese concept stocks rose before the market opened.

European stock markets rose. As of press time, Germany’s DAX index fell 0.08%; France’s CAC40 index rose 0.39%; Britain’s FTSE 100 index rose 0.14%.

In terms of commodity foreign exchange, as of press time, Brent crude oil fell 1.10% to US$86.33 per barrel.

European Automobile Manufacturers Association: EU car sales hit biggest decline in 16 months in March

The European Automobile Manufacturers Association said that EU car sales suffered the largest decline in 16 months in March, and Tesla‘s new car registrations in the EU fell by 30% in March. Registrations of pure electric vehicles in the EU fell by 11% to 134,400 in March; the EU’s pure electric vehicle market share fell to 13% from 14% in the same period last year.

Swiss gold exports fell 6.9% month-on-month in March

Swiss gold exports fell 6.9% month-on-month in March.

TSMC’s Q1 net profit of NT$225.5 billion was higher than market expectations

TSMC’s first-quarter net profit was NT$225.5 billion, a year-on-year increase of 8.9%, with an estimate of NT$214.91 billion; first-quarter sales were NT$592.64 billion, a year-on-year increase of 17%, with an estimate of NT$583.46 billion; first-quarter operating profit NT$249.02 billion, a year-on-year increase of 7.7%, and an estimate of NT$240.87 billion; the gross profit margin in the first quarter was 53.1%, an estimate of 53%.

BP restructures its senior management team and simplifies the company’s departmental structure to “three principals and five auxiliaries”

BP has reorganized its top management. According to a statement on Thursday, the executive leadership team will be reduced to 10 people in an effort to simplify the organizational structure and increase the company’s value. “We need to become a simpler, more focused and higher-value company,” CEO Murray Auchincloss said in a statement. “These changes will help us do that.”

Integrating Credit Suisse is difficult and UBS may conduct a new round of layoffs

According to people familiar with the matter, UBS is planning a new round of layoffs after bailing out Credit Suisse. The layoffs are expected to affect more than 100 positions in the bank‘s global investment bank, people familiar with the matter said. The layoffs are planned to take place in the coming weeks.

Another person familiar with the matter said layoffs are also expected in the wealth management and markets departments. The emergency acquisition of Credit Suisse increased UBS’s global headcount by about 45,000 people to about 120,000.

LG Electronics is rumored to plan to raise up to US$1 billion through US dollar bonds

According to three people familiar with the matter, South Korea’s LG Electronics is planning to raise up to $1 billion in U.S. dollar debt. The sources declined to be identified because of confidential information.

SouthwestGas subsidiary Centuri’s IPO priced at $21/share tonight on the New York Stock Exchange

Centuri Holdings, a subsidiary of Southwest Gas that provides infrastructure services to utilities, announced terms for its IPO, raising $260 million by offering 12.4 million shares at $21 a share, the high end of the $18-$21 price range. . In addition, the company raised $54 million through a private placement to Icahn Partners and its affiliates. Centuri is expected to begin trading on the New York Stock Exchange on April 18 under the ticker symbol CTRI.

Oracle to invest more than $8 billion in cloud computing and AI in Japan

Oracle said on Wednesday it will invest more than $8 billion over the next 10 years to meet Japan’s demand for cloud computing and artificial intelligence infrastructure.

Tesla begins global layoffs affecting approximately 14% of employees in Buffalo, New York

Electric car maker Tesla said in a legally required notice on Wednesday that it will lay off 285 employees in Buffalo, New York, as part of its plan to reduce its global workforce by 10%.

Nokia Q1 operating profit increased 25% year-on-year and reiterated full-year performance guidance

On April 18, Nokia announced its financial results for the first quarter of 2024. The financial report showed that Nokia’s Q1 net sales were 4.667 billion euros, a year-on-year decrease of 20%, which was lower than analysts’ consensus expectations of 4.96 billion euros. Adjusted operating profit was 597 million euros, a year-on-year increase of 25%, better than analysts’ consensus estimate of 569 million euros; adjusted earnings per share was $0.09, compared with $0.06 in the same period last year.

Alcoa’s Q1 revenue exceeded expectations at US$2.6 billion, and net loss widened to US$252 million

After the U.S. stock market closed on Wednesday, Alcoa announced its first quarter results for 2024. Data show that the company’s Q1 revenue was US$2.6 billion, a year-on-year decrease of approximately 2.6%, higher than market expectations of US$2.56 billion. Net loss expanded to US$252 million, or US$1.41 per share, compared with a net loss of US$231 million, or US$1.30 per share, in the same period last year. The adjusted loss per share was US$0.81, lower than analyst expectations.

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