Real-time News

Tesla (TSLA.O) updated its annual report on Thursday, stating that it earned over $500 million from sales to SpaceX and xAI. Tesla disclosed in January that its business dealings with xAI were approximately $430.1 million. Thursday's updated report shows that Tesla received an additional $143.3 million from SpaceX.

Tokyo Electron shares rose 6%.

A Reuters poll showed that 33 out of 30 economists expect the Reserve Bank of Australia (RBA) to raise the cash rate to 4.35% on May 5. More than a third of economists expect the RBA to raise rates to 4.60% or higher this year (no economists gave this expectation in the March survey).

Japan's Tokyo unadjusted CPI rose 0.6% month-on-month in April, down from 0.3% in the previous month.

Japan's Tokyo CPI rose 1.5% year-on-year in April, below the expected 1.70% and the previous reading of 1.40%.

Japan's core CPI in Tokyo rose 1.5% year-on-year in April, below the expected 1.80% and the previous reading of 1.70%.

May 1 – Brazil's state-owned oil and gas company, Petrobras, reported record oil and gas production in the first quarter, with its refineries operating near full capacity. This underscores Brazil's growing importance in the global energy market amid the impact of the Iran-Iraq conflict. Petrobras stated that oil and gas production increased by 16% year-on-year, reaching 3.23 million barrels of oil equivalent per day. Its refinery capacity utilization rate reached its highest monthly level since 2014 in March, currently standing at 95%, reducing the need for fuel imports. The increased production and refining capacity of Petrobras will help the country cope with the economic impact of the conflict in the Middle East. The company's management has been working with the government to control rising fuel prices and ensure stable supply.

May 1st - Despite Apple (AAPL.O) stating it expects continued chip supply constraints, its quarterly revenue guidance exceeded expectations, driving its stock price up in after-hours trading. Apple's CFO stated that the company expects third-quarter revenue to grow 14% to 17% year-over-year, higher than Wall Street's expectation of 9.5%. Apple is no longer committed to bringing its net cash (cash minus debt) to zero. Apple set this goal in 2018, but at the end of its first fiscal quarter in January of this year, its net cash was still $54 billion.

May 1st - Apple (AAPL.O) CEO Tim Cook stated that demand for the company's new entry-level MacBook Neo laptop is extremely strong, and its pricing is lower than some analysts' expectations. "The customer response to the Mac Neo has been extremely enthusiastic," Cook said in a conference call with analysts. Cook said the company was optimistic about the product's prospects before its release but underestimated the level of enthusiasm it would generate, leading to supply constraints. Cook said the model helped Apple set a record for the number of new customers for its MacBook product line in the second fiscal quarter.

Apple (AAPL.O) CFO: The company is applying for tariff refunds "through normal procedures" and will reinvest any recovered amounts in its advanced manufacturing projects in the United States.

On May 1st, according to the Wall Street Journal, MetaPlatforms CEO Mark Zuckerberg provided new details about the company's aggressive AI plans and addressed the market's negative reaction to its first-quarter results at a company-wide meeting on Thursday. Zuckerberg attributed the 8% drop in Meta's stock price to investor concerns about upward revisions to its expected capital expenditures and the company's forecast of slower growth in the second quarter. Zuckerberg said that Meta's advertising business experienced a "trajectory shift" after the US-Iran conflict in late February. He said, "If oil prices rise, then consumers will spend more money on oil and gasoline, and less on non-essential items, which are typically targeted for advertising." Zuckerberg attributed the company's planned layoffs next month to the need to invest more in data centers and other AI infrastructure. He said, "The company basically has two cost centers. One is computing and infrastructure, and the other is people. If we invest more in one area to serve our community, it means we have less capital to allocate to the other area. So it means we really need to scale back the company a bit."

Apple (AAPL.O) CEO Tim Cook: Memory costs are expected to have a greater impact on the business beyond the current quarter. We will consider various options to address memory cost issues.

On May 1st, Apple's incoming CEO, John Turner, stated briefly during the company's earnings call that he will continue Tim Cook's prudent approach to financial decision-making. He said, "A key characteristic of Tim's tenure was his thoughtful, cautious, and rule-abiding approach to the company's financial decisions. I intend to continue this approach when I take over in September."

Apple (AAPL.O) CEO Tim Cook: Looking ahead to the June quarter, most of our supply constraints are expected to be concentrated on a few Mac models.

Apple (AAPL.O) CFO: Revenue for the June quarter is expected to grow by 14-17% year-over-year due to supply constraints.