Salt River Tubing (SRT) is back for the 2024 season, with a few changes to note. Ticket prices remain largely the same, with a $25 tube rental that includes the shuttle, a $20 shuttle pass for those bringing their own tube, and a $20 bucket/cooler tube. Military and first responders can take advantage of a discount on in-person rentals.
Equity Residential (EQR) reported solid first-quarter 2024 results, with funds from operations (FFO) exceeding analyst estimates. The company’s President and CEO, Mark J. Parrell, attributed the positive performance to strong demand from affluent renters, limited new apartment supply, and effective expense management.
For the second quarter, EQR expects normalized FFO per share of $0.92-$0.96, in line with the consensus estimate of $0.96. Same-store net operating income is expected to increase during the quarter.
In Q1, EQR sold three properties for a total of approximately $248.5 million.
Overall, EQR’s strong demand dynamics, limited new supply, and focus on expense control continue to drive positive results.
Zions Bancorporation (NASDAQ: ZION) reported solid results in its first-quarter earnings, signaling improving trends. Pre-provision net revenue exceeded expectations, driven by higher net interest margin and lower expenses. Loan growth remained steady, while deposits declined slightly due to seasonal factors. The company’s valuation remains attractive, trading at 1.2x book value and a forward ROE of 11%. Analysts continue to rate the stock a ‘buy’ given its positive rate outlook.
GoFundMe, the crowdfunding platform, has launched its services in Mexico, marking its expansion into Latin America. Mexico, as one of the world’s largest economies and a close partner of the United States, presents a significant opportunity for GoFundMe with its high demand for medical assistance and emergency aid. The platform’s global reach and user-friendly interface make it a valuable resource for Mexicans in need of financial support. GoFundMe’s expansion aligns with the growing trend of crowdfunding in Mexico, where platforms like Donadora have been gaining popularity. The company remains optimistic about the potential of other Latin American markets, but plans to proceed strategically based on the success of its Mexican launch.
Tesla’s first quarter results revealed a mixed performance, leading to a shift in the company’s medium-term plan and an upgrade in analyst rating from sell to hold. While overall revenue exceeded expectations, the automotive and energy segments faced margin pressures due to increased operating expenses. Notably, the company reported significant cash burn, prompting changes in its vehicle lineup strategy. Tesla plans to launch new models based on its current platform sooner than anticipated, focusing on affordability and volume growth over cost reduction. This move aims to counter rising competition and meet consumer demand for lower-priced vehicles. Despite the potential impact on long-term financial results, the revised plan has been well-received by investors, leading to a rise in stock price.
Tesla Inc. announced plans to accelerate the launch of new affordable electric vehicles (EVs), despite missing Wall Street estimates in its first-quarter earnings report. The move aims to boost vehicle volumes in a cost-efficient manner during uncertain times. Tesla’s shares surged after hours on the news, which comes amid concerns about continued vehicle price cuts and layoffs that had pushed the stock to a 15-month low in 2024.
The global squalene market is projected to experience significant growth from 2023 to 2027, driven by increasing concerns over UV exposure and the rising demand for natural and eco-friendly cosmetics. Squalene, a key ingredient in sun protection products, plays a crucial role in shielding the skin from harmful UV rays. With the prevalence of skin cancer and the alarming number of daily diagnoses, consumers are becoming more aware of the importance of daily sunscreen use. Consequently, manufacturers of sunscreen and sun protection cosmetics are ramping up production to meet the surging demand for squalene-infused products.
Former President Donald Trump’s stake in the parent company of his social media platform, Truth Social, is poised to increase by over $1 billion. This windfall is the result of the company’s stock price remaining elevated in recent weeks and comes at a crucial time for Trump, who faces substantial legal expenses and is gearing up his presidential campaign. The additional shares, known as earnout shares, are awarded based on the stock’s performance and will raise Trump’s stake in the company to approximately 65%. Despite market volatility and concerns over short-selling, Truth Social’s share price has remained above the levels set for the earnout, keeping Trump on track to receive the additional shares.
MARK-PILOT, a leading provider of SaaS solutions for market-based spare parts pricing in the manufacturing sector, has secured a significant Series A funding round led by global software investor Insight Partners and existing investor Capnamic. The funds will fuel the company’s expansion in the US and strengthen its position as a global player in the manufacturing market. With its innovative PRICERADAR and PRICEGUIDE solutions, MARK-PILOT empowers manufacturers to maximize revenue, margins, and customer loyalty through transparent market pricing data. The company’s success has attracted the attention of top industry investors, demonstrating the viability of its business model and the significant impact it is making in the manufacturing industry.
ImmunityBio has received FDA approval for its lead drug candidate, Anktiva, for the treatment of BCG-unresponsive non-muscle invasive bladder cancer (NMIBC). The approval follows the successful completion of clinical trials that demonstrated a 62% complete response rate and a duration of response of over 47 months. Anktiva is the first-in-class IL-15 agonist immunotherapy to receive FDA approval for NMIBC and represents a significant milestone for ImmunityBio.
