[Morning Report] Yen hits low against the dollar for the first time in about 34 years Tesla accelerates launch of a model where it is easy to seek stock price increases outside of hours even with dull financial results

Top news
The yen hit a low again for the first time in about 34 years against the dollar - heightened sense of caution against intervention
At the New York foreign exchange market on the morning of the 23rd, the exchange rate of yen fell to 1 dollar = 154 yen 88 yen at one point. The depreciation of the yen and the appreciation of the dollar were renewed again for the first time in 34 years. There is a growing sense of caution against yen buying intervention by the Japanese authorities in the market.

US comprehensive PMI, lowest level this year - employment shrinks for the first time since 2020
In April, the pace of expansion of corporate activity in the United States reached its lowest level since the beginning of this year. The background is that employment fell into a contraction zone for the first time since 2020 in response to a decline in demand.

From January to March, US Tesla saw a decline in sales and profit for the first time in 4 years, and EV sales declined worldwide
Rice, a major electric vehicle (EV) company $Tesla(TSLA.US)$In the financial results for the fiscal year ending January to 3 announced on the 23rd, sales decreased 9% compared to the same period last year to 21.31 billion dollars (about 3.3 trillion yen), and final profit decreased 55% to 1,129 million dollars. Sales and profit declined for the first time in about 4 years. In addition to the deceleration in US growth, EV sales declined in major markets due to the low price offensive of Chinese manufacturers.
Related articles:Tesla (TSLA) 24Q1 financial results: EPS 0.45 dollars (forecast 0.59 dollars), sales 21.3 billion dollars (forecast 23.374 billion dollars)

Tesla accelerates launch of models that are easy to obtain, up 11% after hours even with poor financial results
Financial results for the fiscal year ending January to March (1st quarter) were announced after closing, and both earnings per share and sales fell short of expectations. Free cash flow (FCF) has also turned into an unexpected deficit. The possibility that the growth in unit sales will drop significantly from last year was also mentioned for the full year, regardless of the previous year. Although the financial results were lackluster, stock prices are being bought outside of hours, and buying is getting stronger.

GM rose over 5% outside of settlement time
paddy $General Motors(GM.US)$It has risen by over 5% outside of hours. Financial results for the fiscal year ending January to March (1st quarter) were announced before the start of trading, and earnings per share and sales exceeded expectations. EBIT has also surpassed expectations. Also, the outlook for earnings per share and EBIT was revised upward according to full-year guidance.

US TI shows bullish sales outlook - suggests easing of sluggish semiconductor demand
paddy $Texas Instruments(TXN.US)$showed a bullish outlook for April-June (2nd quarter) sales. It was suggested that sluggish demand for industrial and automotive electronic components is easing.

Visa profits increased 17% from January to March, exceeding market expectations - card spending increased
The United States that operates the payment processing network $Visa(V.US)$Profits exceeded market expectations for the January-March (2nd quarter) financial results. Card spending in the US has increased.

French luxury goods Kering expects a sharp decline in profits in the first half - Chinese wealthy people refrain from buying Gucci
Kering, a major French luxury goods manufacturer, indicated on the 23rd that profits for the first half of this year would drop sharply. It is the main brand “Gucci,” which is under its umbrella, and it is said that there is a movement by the wealthy to refrain from buying.