U.S. Movers: Charles Schwab, Goldman Sachs, Salesforce, Tesla

Scott Peters
15 Apr, 2024
New York City

Tesla declined 2.8% to $166.26 on the news that the electric vehicle maker is planning to cut 10% of its global headcount. 

"We have done a thorough review of the organization and made the difficult decision to reduce our headcount by more than 10% globally.

 There is nothing I hate more, but it must be done. This will enable us to be lean, innovative, and hungry for the next growth phase cycle," said chief executive Elon Musk in a memo sent to employees. 

The electric vehicle industry news publication Electrek first reported on Tesla's internal memo. 

Charles Schwab increased 4% to $72.83 after the company reported better-than-expected quarterly results. 

Net revenue in the March quarter declined 7% to $4.7 billion from $5.1 billion, net income fell 15% to $1.36 billion from $1.60 billion, and diluted earnings per share dropped 18% to 68 cents from 73 cents a year ago. 

Net interest margin increased by 13 basis points from the previous quarter to 2.02% due to greater margin balance utilization and a decline in outstanding supplemental funding. 

Asset management and administration fees increased by 21% over the prior year to a record $1.3 billion. 

Goldman Sachs Group increased 3.8% to $404.40 after the financial services provider reported better-than-expected quarterly results. 

Net revenue in the first quarter rose 16% to $14.2 billion; net earnings increased 28% to $4.1 billion from $3.2 billion; and diluted earnings per share advanced 32% to $11.58 from $8.79 a year ago. 

Salesforce declined 5.2% to $279.02 after the customer service software company is looking to acquire Informatica, according to news reports by The Wall Street Journal and Reuters.