Image Source: We were flat in regular market trading this Tuesday. That said, the Dow’s gain of +0.08% for the session marks the index’s fifth-straight higher close. The S&P 500 notches its fourth-straight up day, +0.13%. The Nasdaq broke its three-day winning streak with a marginal downward move to -0.10%, while the small-cap Russell 2000 outperformed the field at +0.19%. Year to date, all four indices are back up into the green, led by the Nasdaq (+10%) and the S&P (+9%).Today ushered in a new Apple Event. What was once a routine game-changer back in the days when Steve Jobs ran Apple ( – ) has given way to mostly updates to already offered devices, including the iPad Air and Apple Pencil Pro, while debuting its iPad Pro. Apple shares are already up from their mid-April trough, but well off levels near $200 per share back in January of this year. Shares are just about breakeven from the start of 2024 with marginal after-market gains today.Reddit ( – ) shares are up big after its inaugural earnings report. While Q1 earnings came in well below expectations to -$8.19 per share, revenues — by far the more important metric for a growing company like Reddit — reached $243 million, far better than the $212.4 million consensus estimate.Further, next-quarter revenues have been guided up nicely to $240-255 million from an expected $221.4 million. Average Revenue per User came in at $2.98 versus $2.40 expected, and Q1 gross margins brought a very strong 88.6%. Shares rose nearly +19% immediately on the report’s release, but have ebbed back to +16%.Lyft ( – ) shares are also up big on its Q1 results. Earnings of 15 cents per share were nicely ahead of the +$0.09 per share expected, on $1.28 billion in sales, above the $1.17 billion in the Zacks consensus. The ride-share major brought 3.7 million new bookings, ahead of the projected 3.58 estimate. Average earnings beat over the trailing four quarters is a whopping +502% after a June 2023 quarter surprise of +1600%. Late trading had brought the stock up +10%, now it’s +5%.Wynn Resorts ( – ) continues to enjoy a bounceback. Earnings in Q1 of $1.59 nicely improved over the estimated $1.40 per share, while $1.86 billion in revenues surpassed the $1.77 billion analysts were looking for. Macau’s adjusted EBITDAR rose to $411.7 million in the quarter, zooming past the $230.7 million reported in the year-ago quarter. Las Vegas gains were higher, as well, on tougher comps. Shares remain +2.3% higher at this hour in late trading.Electronic Arts ( – ), on the other hand, posted a big miss on its fiscal Q4 bottom line. Earnings of 67 cents per share were less than half the $1.54 we were expecting, while top-line tallies of $1.67 billion missed the $1.78 billion estimate, with next-quarter revenue guidance lower than the current Zacks consensus. However, the videogame maker is hopeful a new NCAA football game offering will help turn around its fortunes, as full-year revenue estimates ratcheted somewhat higher.EV manufacturer Rivian ( – ) was mixed in its Q1 report after today’s close. A negative earnings headline of -$1.48 per share was notably below the -$1.13 in the Zacks consensus, while revenues of $1.2 billion inched past the $1.15 billion estimate. The company expects to deliver 57K autos in 2024, although for the quarter, Rivian took a loss of -$38,784 per vehicle. Shares had fallen -3% on the news, but have improved to -1.5% at this hour.More By This Author:Markets Up To Start The Week: PLTR, MCHP Meet EarningsBig Quarterly Beats After the Bell: AAPL, SQ, COIN & MoreMarkets Sink After Powell Presser; Big Earnings Post-Bell
Big Afternoon For Earnings: RDDT, WYNN, LYFT & More
