5 Things to Know Before Markets Open

News of the day for April 19, 2023

Tesla charging station

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Tesla will announce its first quarter earnings later today and Disney prepares for thousands of job cuts. Here’s what investors need to know today.

1. Tesla Earnings Expected to Reflect Price Cuts

Tesla will report its first quarter results later today. Analysts expect Tesla’s margins will be pressured by its price cuts as it bids to lure more customers for its electric vehicles.

2. Disney Job Cuts Set to Hit Entertainment Division

Disney is poised to cut thousands of more jobs next week, including about 15% of the staff of its entertainment division. The cuts will span TV, film, theme parks and corporate positions in all regions.

3. Netflix Announces Password Sharing Crackdown in U.S.

Netflix (NFLX) shares initially fell about 10% in after-hours trading before paring back losses after reporting mixed results. Netflix reported first quarter profits and revenue that were largely in line with analyst expectations, though the company added 1.75 million new subscribers, about 500,000 fewer than projected.

4. Western Alliance Bancorp Shares Up on Earnings Beat

Western Alliance Bancorp (WAL) shares are surging over 19% in pre-market trading after the company beat its latest earnings estimates and showed that deposits had stabilized. The stock is still down 44% this year and 58% over the past year.

5. United Airlines Shares Rise After Demand Forecast

United Airlines (UAL) shares are up slightly in pre-market trading after the airline reported a quarterly loss but said demand is strong, particularly for international travel. UAL also said it expects to post a profit in the second quarter on the back of strong summer travel.

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  1. Wall Street Journal. “Tesla Earnings Expected to Show Impact of Elon Musk’s Price Cuts.”

  2. Bloomberg. “Disney Is Set to Eliminate Thousands of Jobs Starting Next Week.”

  3. NBC News. “Netflix announces 'broad rollout' of password-sharing crackdown in U.S.

  4. Yahoo Finance. “Western Alliance stock surges after the lender said deposits rose $2 billion.”

  5. CNBC. “United Airlines posts net loss but forecasts profit for second quarter.”

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