Tesla ( TSLA ) delivered 462,890 vehicles in the third quarter of 2024, marking a 6% increase year over year. While this exceeded Wall Street’s forecast of 462,000, Tesla’s stock dropped 3.5% in Wednesday trading, closing at $249.02. The broader market remained mostly unchanged, with the S&P 500 flat and the Dow Jones Industrial Average rising by just 0.1%. Stock Reaction and Whisper Numbers The stock’s decline, despite the strong delivery numbers, was not entirely surprising. Tesla shares had surged 23% in the month leading up to the delivery report, creating high expectations. However, the actual delivery numbers fell short of the "whisper number" of 470,000, leading to the pullback in stock price. Despite the drop, Tesla has delivered 1.29 million vehicles so far in 2024, which is down 2% compared to the same period in 2023. To match last year’s total of 1.81 million vehicles, Tesla will need to deliver approximately 515,000 units in Q4, a target that will be closely w

Shares of Apogee Enterprises ( APOG ) surged to new highs following a strong second-quarter earnings report that exceeded expectations. The company, which provides architectural products and services, reported $342.4 million in sales for Q2, surpassing the consensus estimate of $335.3 million. This marks a 2% beat despite a 3.2% year-over-year revenue decline, reflecting Apogee’s ability to navigate a challenging market. While volume dropped, Apogee improved its gross margin by 140 basis points to 28.4%. This was driven by favorable pricing, a shift in its project mix within Architectural Services, and lower costs for materials and insurance. The company also raised its full-year earnings forecast, boosting investor confidence. Apogee now expects fiscal year 2025 adjusted EPS to fall between $4.90 and $5.20, up from its previous guidance of $4.65 to $5.00. Strategic Focus: Navigating Market Softness with Margin Expansion Apogee’s performance this quarter underscores its strategic pivot

Oil markets have been volatile this week as fears mount over potential disruptions in the global oil supply chain due to escalating tensions between Israel and Iran. U.S. crude oil prices have gained about 8%, reflecting the market’s anxiety over a potential retaliation from Israel, which could target Iran’s oil infrastructure. On Thursday, oil prices surged by approximately 5% after President Joe Biden hinted at discussions surrounding an Israeli strike on Iran's oil facilities. Geopolitical risks in the Middle East are at their highest since the Gulf War, according to analysts. West Texas Intermediate (WTI), the U.S. oil benchmark, hit an intraday high of $73.95 per barrel, and Brent crude, the global benchmark, also spiked in response to the turmoil. A significant disruption in oil production could push prices even higher. OPEC+ Capacity Holds Prices Steady – For Now Despite the mounting tension, oil prices have not run completely out of control. Analysts point to OPEC+’s spare

Nike’s ( NKE ) stock took a sharp tumble after the athletic giant reported fiscal first-quarter results that disappointed investors. Despite beating earnings estimates, the company’s revenue fell short, with sales dropping 10% from the previous year. Nike’s revenue for the quarter totaled $11.59 billion, missing analysts’ estimates of $11.65 billion. The decline in sales marked Nike’s worst performance since the pandemic-affected quarter in 2020. Direct-to-consumer sales fell 13% to $4.7 billion, and wholesale revenues also dipped by 8% to $6.4 billion. These setbacks have been attributed to Nike’s struggle to regain market share after competitors capitalized on gaps left by its shifting strategies. Leadership Change Brings New Hope, But Challenges Remain Nike’s leadership transition adds another layer of uncertainty. CEO John Donahoe is set to retire in October, with company veteran Elliott Hill taking over the helm. While Hill’s appointment has been welcomed as a positive step, with

United Natural Foods Inc. ( UNFI ) posted a solid performance in its fourth-quarter earnings report, pushing its stock higher after a challenging year. The company saw a 10% year-over-year increase in sales to $8.15 billion, surpassing the consensus estimate of $7.94 billion. This positive result was largely driven by inflation and an uptick in unit volume as the quarter progressed. UNFI’s quarterly earnings of $0.01 per share beat expectations of a loss of $0.08, signaling the company’s ability to outperform during a difficult period. The earnings surprise of 112.50% reflects the positive impact of efficiency initiatives and improved operational metrics, as UNFI successfully reversed the $0.25 per share loss recorded in the same quarter last year. Turnaround Efforts Start to Pay Off The company's recent struggles, including a 56% stock decline since the start of 2023, were driven by a tough operating environment. However, its turnaround plan is beginning to show results. In Q4, UN

Carnival Corporation ( CCL ) reported a strong third quarter, beating analysts’ expectations with earnings per share (EPS) of $1.27, surpassing the forecast of $1.17.  Revenue for the quarter reached a record $7.9 billion, marking a 15.2% increase year-over-year. This performance was driven by significant growth in both ticket and onboard sales, underscoring the resilience of demand for cruises despite economic challenges. Operating income surged by 34% to $2.18 billion, while adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) rose 27% to $2.82 billion. This achievement sets a new benchmark for the company, which continues to capitalize on strong booking momentum and higher pricing across its cruise offerings. Carnival also reported that cumulative advanced bookings for 2025 have already surpassed 2024’s levels, indicating continued demand strength. Fourth Quarter Outlook Disappoints Investors Despite the impressive third-quarter results, Carnival’s outlo

Negotiations between the International Longshoremen’s Association and U.S. Maritime Alliance are teetering on the edge of collapse.  A potential port strike is looming, threatening to disrupt trade along the East and Gulf Coasts. Wall Street analysts, including those from Stifel, are already speculating on the potential impact, with FedEx ( FDX ) and UPS ( UPS ) emerging as potential winners.  Both companies, heavily involved in air freight, could see increased demand as companies turn to alternative transport options to avoid delays from halted port activity. In particular, industries like automotive, reliant on European imports, could face significant disruptions, pushing them to rely on these logistics giants. UPS Struggles with Growth but Remains a Dividend Stronghold UPS is currently facing challenges with revenue growth, as customers shift to cheaper shipping options, leading to a drop in profits. The company saw a 30% year-over-year decline in operating profits last quarter, but