TLDR

• Ford’s Q1 operating profit reached $3.5B, crushing Wall Street’s $1.3B projection
• Quarterly revenue totaled $43.3B, surpassing the $42.7B consensus
• The automaker increased its 2026 operating profit outlook to $8.5B–$10.5B
• Shares surged 7% after hours before reversing, ending ~1% lower in regular session
• UBS downgraded its price target from $15 to $14, reducing its 2027 EPS outlook by roughly 10%

Despite delivering a significant earnings beat that surpassed analyst expectations, Ford’s shares struggled to maintain momentum.

The Detroit automaker posted Q1 operating profit of $3.5 billion on top-line revenue of $43.3 billion. Wall Street had projected operating profit of only $1.3 billion with revenue of $42.7 billion. In comparison, the year-ago period saw Ford deliver $1 billion in operating profit on $40.7 billion in sales.

Earnings per share registered at $0.66, crushing the $0.19 consensus estimate — representing a beat exceeding 247%.

These figures incorporated a $1.3 billion tailwind from tariff benefits. However, even excluding that advantage, the core operational performance significantly exceeded projections.

Ford Motor Company, F

Shares initially spiked over 7% during extended trading, pushing above the $13 threshold. However, the momentum evaporated quickly. By Thursday’s session, Ford was changing hands in the $12.12–$12.24 range, representing a decline of approximately 1%.

The Truck Factor

The robust performance stemmed largely from favorable product mix. Ford CFO Sherry House emphasized that the company’s truck lineup appeals to affluent consumers, which provided a buffer against escalating cost pressures.

Premium off-road and performance variants accounted for nearly 25% of total domestic sales throughout the quarter. This upmarket shift helped neutralize challenges from tariffs, raw material price increases, and supplier cost inflation.

The company is also navigating aluminum supply chain constraints triggered by a fire at Novelis’ Oswego, New York facility last September. This continues to limit production capacity.

Inflationary pressures added $1 billion in incremental costs during the three-month period. Nevertheless, Ford successfully managed through these headwinds.

Quality enhancements are delivering additional benefits. The automaker remains on course to reduce quality-related expenses by $1 billion in 2026. JD Power positioned Ford at No. 4 in its 2026 U.S. customer service rankings — marking the company’s strongest showing in almost three decades.

Guidance and the UBS Cut

Ford elevated its full-year 2026 operating profit forecast to a range of $8.5 billion–$10.5 billion, up from the previous $8 billion–$10 billion band. For context, 2025 operating profit totaled $6.8 billion, declining from $10.2 billion in 2024.

The guidance increase was relatively conservative, and management specifically noted the outlook excludes potential impacts from a U.S. economic recession or escalating Middle East tensions.

This conservative stance may explain the lukewarm investor response.

UBS responded Thursday by reducing its Ford price objective to $14 from $15, while maintaining its Buy rating. The investment bank lowered its 2027 EPS projection by approximately 10% to $1.88, pointing to elevated commodity costs that are increasingly offsetting benefits from the Novelis situation.

UBS currently estimates Ford’s 2027 earnings foundation at $9.75 billion — roughly $1 billion below previous assumptions. The trajectory toward $2 in EPS has been delayed by one year.

The firm continues to see long-term potential from battery energy storage systems and higher-margin Pro software offerings, though that timeline has similarly been extended by 12 months.

Heading into Wednesday’s report, Ford shares were down 5% year-to-date while posting gains of 24% over the trailing 12 months. GM, which similarly exceeded Q1 expectations and lifted guidance, advanced 1.3% on Tuesday following its earnings release.

Ford currently trades at $12.24.

Key Takeaways

• RDDT shares have declined 36% year-to-date in 2026, putting pressure on Thursday’s Q1 earnings release.
• Wall Street consensus calls for Q1 revenue of $608 million with adjusted earnings per share of $0.57.
• Ad revenue projections show a robust 58% year-over-year increase to $567 million.
• Daily active user expansion is anticipated to decelerate to 16% from the prior year’s 30.7% pace.
• Analyst consensus price target of $223.34 suggests significant upside from current trading levels near $148.40.

Reddit approaches its Thursday earnings release under considerable pressure from investors. The social media platform’s shares have tumbled 36% during 2026, despite maintaining impressive gains of approximately 326% since its March 2024 initial public offering at $34 per share.

Reddit, Inc., RDDT

The first quarter results are scheduled for release after market close on Thursday. Analyst consensus estimates point to adjusted earnings of $0.57 per share on total revenue of $608 million, based on FactSet data.

The platform exceeded expectations in its previous quarterly report, delivering revenue of $725.6 million — representing 69.7% year-over-year growth — alongside better-than-anticipated EBITDA performance. This strong showing raises expectations for the upcoming release.

For the current quarter, market watchers anticipate revenue expansion of approximately 55% compared to the year-ago period. This represents a moderation from the 61.5% growth rate Reddit achieved during Q1 of the previous year.

Daily active user metrics are drawing particular scrutiny from analysts. The company disclosed 52.5 million DAUs in its most recent quarter, reflecting 9.4% year-over-year growth. First quarter projections call for global DAU growth of 16% — marking a notable deceleration from the 30.7% expansion recorded in the comparable quarter last year.

This slowdown has sparked concern among market participants, especially as artificial intelligence-driven platforms including ChatGPT, Google AI Overviews, and similar services provide alternative pathways for users to access information without engaging directly with the platform.

Ad Revenue Projections Remain Strong

The advertising segment presents a brighter outlook. Analysts project Q1 advertising revenue of $567 million, representing a 58% surge compared to the year-ago quarter.

Jefferies analyst John Colantuoni, who maintains a Buy rating with a $250 price target on RDDT, observed in mid-April that discussions with advertisers indicated “resilient digital budgets” and “particularly strong trends” specific to Reddit’s platform.

The company is marketing itself as an irreplaceable resource that artificial intelligence cannot easily duplicate — a platform grounded in authentic human perspectives and community dialogue. This forms the foundation of the bullish investment thesis.

D.A. Davidson analyst Wyatt Swanson reinforced this perspective on April 21, stating that Reddit “remains incredibly under-monetized relative to peers” and has successfully established itself as a “human-first social platform.” He assigns a Buy rating with a $200 price target.

Industry Comparisons

Recent earnings results from comparable consumer internet companies provide useful context. Booking delivered 16.2% revenue growth in Q1, meeting analyst projections. Coursera reported 9.1% growth and experienced an 11.6% stock decline following its release.

Reddit has consistently surpassed Wall Street forecasts, and analysts have maintained relatively stable estimates over the past 30 days — suggesting confidence that no major deviations are anticipated.

During the past month, consumer internet equities have advanced an average of 16.2%. Reddit shares have climbed 19.5% over the same timeframe, indicating the market may have already incorporated some positive expectations ahead of the earnings announcement.

The consensus analyst price target of $223.34 implies approximately 50% potential upside from current trading levels around $148.40.

Bitcoin BTC$76,054.61, while it’s slightly in the green may be in for a shock. The largest cryptocurrency has gained less than 0.5% since midnight UTC, and strong moves toward $80,000 are likely to run into opposition.

That’s because short-term holders have a cost basis around that price, Luke Deans, a senior research associate at Bitwise, told CoinDesk. A move above may convince them to take profits and sell, capping any advance.

Another headwind may present itself in the form of U.S. March PCE inflation, which lands as oil prices keep pressure on risk assets. West Texas Intermediate crude has surged to as high as $110, and reduced traffic through the Strait of Hormuz has kept energy markets fragile.

Wednesday’s Federal Reserve decision to hold the federal funds rate steady is also weighing on the market. Specifically, a whopping four dissenting voices, the most since 1992, with one governor pushing for a cut and three regional presidents opposing the statement’s suggestion that the Fed would resume easing.

Deans also said altcoins remain tied to bitcoin, with the 180-day correlation and beta percentiles near 97% and 99%. That means tokens may move like levered bitcoin trades today.

“Beneath the surface, conditions typically associated with rising volatility appear to be forming,” Deans said. “Liquidity remains subdued, with profit- and loss-taking largely offsetting each other, reflecting a lack of directional conviction.”

In these environments, he said, price moves are often needed to unlock new liquidity.

Derivatives positioning

• Market-wide, futures open interest (OI) has dropped over 2% to $119 billion in 24 hours. Trading volumes, however, have increased 26% to $208 billion. The combination indicates that positions are being closed and capital is fleeing the market, a sign of risk aversion.
• Over $500 million in leveraged bets have been liquidated by exchanges, of which most are longs, or bullish positions. The market weakness amid rising bond yields has clearly caught bulls off guard.
• OI has dropped 2% in bitcoin futures and and 1.7% in ether. Similar declines are seen across most majors, except DOGE, whose OI still hovers at six-month highs.
• With the exception of XMR, XLM, TRX and CC, most coins, including the two largest, have seen sellers hit bids more than buyers lifting offers, leaving the 24-hour cumulative volume delta in the negative. In short, sellers are being more aggressive, which suggests potential for deeper price declines.
• Bitcoin’s 30-day implied volatility index, BVIV, has dropped to 41%, extending the slide from the February high of 97%. Right now, the index is at its lowest since Jan. 29. Once again, this is telling a tale of a market that’s become desensitized to adverse macro developments such as rising bond yields and elevated oil prices. Ether’s volatility index shows a similar pattern.
• On Deribit, BTC and ETH protective puts remain pricier relative to calls. The large concentration of open interest in bitcoin’s $80,000 call has created long (positive) gamma dynamics, suggesting that market makers may sell rallies into and above that level to hedge their books. This could slow potential upswings.
• Bitcoin’s options term structure shows less near-term stress, with traders pricing more uncertainty further out rather than in the immediate future.
• Block flows featured a large BTC put spread involving strikes $72,000 and $65,000, according to Amberdata. The strategy shows expectations for a renewed price drop to $65,000 or lower.

Token talk

• Memecoin launchpad Pump.fun is adding a way for creators to send fees to charities, as its PUMP token trades lower following a major change to its revenue policy.
• The feature, called Charity Coins, lets coin administrators pick a verified charity inside Pump.fun’s creator fee settings. The platform leveraging it, Donate.gg, supports more than 10,000 charities.
• The goal is to reduce disputes between traders and coin admins when a token forms around a charitable cause. The platform’s current main fundraiser is currently at $12,800 for St. Jude Children’s Research Hospital.
• Pump.fun also said it will stop using all revenue to buy and burn PUMP. Instead, it will now send 50% of future net revenue to automatic buybacks and burns for one year, while keeping the rest for hiring, product work, marketing and possible deals.
• The changes come during a rough stretch for PUMP. The token is down more than 7% over the past 24 hours, compared with a 2.2% drop in the broader CoinDesk 20 (CD20) index.

Bitcoin BTC$76,070.83 is on the defensive as April draws to a close, though seasonal trends suggest any pullbacks may prove short-lived, potentially paving the way for a renewed move higher in the weeks ahead.

Data going back to 2013 shows that May tends to be a bullish month for the largest cryptocurrency, with gains in seven of the past 13 years. While the average return of around 8% is less impressive than stronger months like October and November, it still points to a positive bias.

Coming on the heels of April’s roughly 10% gain, the seasonal pattern suggests the broader uptrend could remain intact. The outlook is supported by similar bullish seasonality in the S&P 500, which is already hovering near record highs.

Back-to-back net monthly inflows into the U.S.-listed spot exchange-traded funds (ETFs) indicate strong institutional demand and support the bullish case. These ETFs have pulled in over $1.8 billion this month following March’s $1.32 billion.

This is an excerpt from CoinDesk newsletter ‘Daybook.’ Sign up here, if you haven’t already.

Still, traders need to keep an eye on bond markets, where rising yields are posing a headwind to risk assets.

“Bitcoin’s failure to sustain above $78K and the subsequent drift back toward $75K suggests the market is digesting the “higher-for-longer” signal,” Jake Kennis, a research analyst at Nansen, said in an email. “Absent a liquidity catalyst, it appears range-bound rather than setting up for a breakout, with macro headwinds capping near-term upside despite broadly flat performance over 14 days (+0.7%).”

The other risk is a global economic flare-up. Several observers, including energy analyst Anas Alhajji, warned that the negative impact of the Iran war and the energy market disruption could tank the global economy in May.

Markus Thielen, the founder of 10X Research, suggested the same in a report to clients on Thursday.

“May is when the lag ends, and the real economy starts paying the bill,” he said. Stay alert!

Read more: For analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead.”

What’s trending

Today’s signal

The chart shows bitcoin’s price swings in candlestick format over 2026 and 2021-22. The graphs show two lines: the red one represents the average price over 50 days and the white shows the average over 100 days.

As of today, the 50-day average appears poised to move above the 100-day average. Chart analysts refer to this as a bullish crossover, a signal that short-term momentum is strengthening relative to the medium-term trend and may point to further upside if sustained.

So, the impending crossover suggests more BTC price gains ahead. That said, the indicator has a mixed record, particularly during bear markets. For instance, a similar bull cross occurred in March 2022, as the chart on the right shows. But, it ended up trapping bulls on the wrong side of the market, as prices took a deeper dive in the following weeks.

Key Takeaways

• STLA shares decline 5.59% despite posting revenue and earnings improvements in Q1
• First-quarter revenue climbs 6% to €38.1B, though cash flow remains in negative territory
• Company returns to profitability with €0.4B net income as vehicle deliveries increase
• U.S. operations drive gains while European and Asian markets deliver mixed outcomes
• Management reaffirms 2026 guidance despite investor concerns over liquidity metrics

Shares of Stellantis N.V. (STLA) experienced a significant downturn during pre-market hours, even as the automaker unveiled better-than-expected quarterly earnings. Trading at $7.26, the stock suffered a 5.59% decline, continuing its downward trajectory from the previous session. The company delivered stronger revenue figures, improved profitability, and increased vehicle shipments, suggesting early signs of operational turnaround.

Stellantis N.V., STLA

STLA Shares Sink Despite Positive Quarterly Earnings Momentum

Stellantis announced first-quarter net revenues totaling €38.1 billion for 2026, marking a 6% uplift compared to the same period last year. The expansion was driven by increased unit volumes throughout multiple geographic markets, with particularly robust performance in North American operations. Vehicle shipments surged 12%, demonstrating enhanced consumer appetite and more effective sales strategies.

The automaker swung to a net profit of €0.4 billion, marking a dramatic reversal from the year-ago loss. This turnaround stemmed from enhanced operational efficiency and elevated shipment numbers. Adjusted operating income climbed to €1.0 billion, while operating margins widened to 2.5%.

Despite these encouraging financial metrics, market participants responded negatively, pushing shares lower throughout pre-market activity. The stock retreated to $7.26, indicating continued bearish sentiment among traders. Market observers appeared more concerned with liquidity challenges and profitability sustainability than top-line expansion.

Industrial free cash flow posted a negative €1.9 billion, though this represented a 37% improvement versus the prior-year quarter. The deficit stemmed from typical seasonal working capital requirements during the first quarter along with legacy restructuring expenses. Nevertheless, the company bolstered its financial cushion, closing the period with €44.1 billion in available liquidity.

Geographic Performance Drives Top-Line Expansion

The North American market powered significant growth, with unit sales advancing 6% from Q1 2025 levels. U.S. operations registered a 4% uptick, while Canadian and Mexican markets demonstrated even stronger momentum. Regional market penetration improved to 7.9%, fueled by robust consumer interest in Ram trucks and Jeep SUVs.

Enlarged European operations also contributed positively, with sales volume expanding 5% on a year-over-year basis. The company exceeded overall market growth rates, benefiting from diversified demand spanning electric, hybrid, and traditional powertrains. EU30 market share climbed to 17.5%, reflecting modest competitive gains.

South American operations preserved market leadership despite uneven results across the region. Unit sales edged higher, while market penetration held above 21%. However, net revenues contracted due to adverse foreign exchange movements and softer transaction prices.

Across the Middle East and Africa, sales volumes remained relatively flat amid broader industry headwinds. Market share increased to 11.5%, powered by exceptional performance in Algerian and Turkish markets. Currency volatility dampened profitability metrics throughout the territory.

Asia Pacific operations delivered weaker results, with revenues falling 10% year-over-year. While shipment volumes actually increased, unfavorable pricing dynamics and product mix challenges offset volume gains. As a result, the segment recorded a deeper operating loss during the three-month period.

Management Maintains Guidance While Addressing Liquidity Challenges

Stellantis reaffirmed its full-year 2026 financial targets, anticipating revenue expansion in the mid-single-digit percentage range. Leadership also forecasts low-single-digit operating margins alongside enhanced free cash flow generation. The team is targeting a return to positive industrial free cash flow by fiscal 2027.

The company secured additional capital through a €5 billion hybrid perpetual note offering completed in March 2026. This transaction reinforced the balance sheet and created additional headroom for future capital allocation and transformation initiatives. Management has committed to introducing ten new vehicle models throughout 2026.

Operational excellence initiatives remained central to strategic priorities, as leadership works to resolve manufacturing efficiency and quality control issues. Robust consumer reception to 2025 model year launches provided encouraging early recovery indicators across core territories. Nevertheless, persistent cost inflation and negative cash generation continue to dampen investor enthusiasm.

Key Highlights

• Ripple establishes Dubai base to drive blockchain payment adoption in MEA
• Regional headquarters targets growing enterprise crypto demand in UAE
• Dubai financial district office positions Ripple for MEA market expansion
• DIFC headquarters marks strategic UAE commitment for regional scaling
• Dubai hub strengthens Ripple’s Middle East and Africa service delivery

The blockchain payments provider has launched a regional headquarters in the UAE’s financial capital. This strategic move enhances Ripple‘s ability to deliver compliant blockchain-based payment infrastructure. The company targets accelerating enterprise adoption throughout Middle Eastern and African territories.

DIFC Office Anchors Regional Growth Strategy

Ripple positioned its new headquarters within Dubai International Financial Centre to serve as its MEA operational nerve center. This facility enables increased service capacity and supports workforce growth across strategic markets. The company intends to expand its regional team by 100 percent to address mounting client requirements.

This development follows Ripple’s initial Dubai market entry established in 2020. Throughout the intervening period, the company’s regional footprint has expanded alongside accelerating blockchain infrastructure adoption. Middle Eastern markets now constitute a substantial portion of Ripple’s worldwide client portfolio.

The firm maintains deepening partnerships with financial institutions throughout the territory. Its partner network encompasses Zand Bank, Ctrl Alt, Garanti BBVA, Absa Bank, and Chipper Cash. These collaborations demonstrate continuing institutional integration of Ripple’s payment technologies.

Licensing Achievements Bolster Market Position

Dubai Financial Services Authority granted Ripple comprehensive operational authorization in March 2025. This regulatory approval enables the company to provide licensed international digital payment services operating from DIFC. The milestone established Ripple as Dubai’s inaugural blockchain payments entity holding this regulatory designation.

Ripple’s stablecoin initiatives also progressed through regulatory recognition. DFSA designated RLUSD as an approved crypto asset within DIFC jurisdiction. Licensed financial entities can now incorporate RLUSD into compliant operational workflows across the region.

These regulatory achievements underpin Ripple’s comprehensive infrastructure buildout approach. They simultaneously validate Dubai’s emergence as a structured jurisdiction for digital asset enterprises. Ripple maintains strategic alignment between its service offerings and evolving regional compliance frameworks.

Market Momentum Shapes Expansion Blueprint

The Dubai headquarters launch addresses rising enterprise requirements for regulated blockchain payment systems across developing economies. Organizations throughout Middle Eastern and African markets increasingly implement digital financial infrastructure. Ripple is expanding operational capacity to align with this upward market trajectory.

Dubai’s regulatory authorities interpret Ripple’s expansion as validation of the emirate’s institutional framework effectiveness. The city consistently attracts international blockchain enterprises seeking regulatory transparency and operational infrastructure. Ripple’s enhanced presence strengthens Dubai’s standing as a worldwide blockchain innovation center.

Through its enlarged regional team, Ripple intends to intensify client relationships and service delivery. The organization will broaden support spanning payment processing and digital asset custody capabilities. With accelerating market adoption, Ripple positions itself as a cornerstone participant within the region’s maturing digital finance landscape.

On 30 April, after the market close, Apple Inc. will release its financial results for the second quarter of fiscal 2026. The consensus forecast, based on estimates from 31 analysts, points to revenue of around $109.7 billion, with expected EPS of approximately $1.95. The first quarter set a high benchmark: revenue reached a record $143.8 billion, up 16% year-on-year, while EPS came in at $2.84. However, investors are focusing less on the headline figures and more on management’s outlook. The market is looking for confirmation of a strong iPhone cycle, continued growth in services, as well as signals regarding China and the company’s AI strategy. Additional uncertainty stems from trade policy: new Section 301 investigations into Chinese manufacturing continue to weigh on the company’s supply chain, while rising memory costs are increasingly acting as a headwind to growth.

Technical picture

On the 4-hour chart, a broad sideways range has been in place since October last year. Strong resistance within this range is located around $280, which coincides with the February high and has repeatedly capped price advances. The lower boundary is established near $245, a level that has also seen multiple reversals. The horizontal volume balance zone spans $248–$264, with the point of control around $254–$255. The current price, near $270, is trading above this zone — in an area of lower trading activity where price movements tend to be less stable.

The vertical volume on 7 April stands out across the entire profile — this is when the price rebounded from the lower boundary of the range and, following a gap, began its recovery. The RSI + MAs indicator shows readings of 56, 58 and 57: the oscillator is positioned below both moving averages, indicating continued moderate upward pressure without signs of overheating.

Key Takeaways

The stock approaches its earnings release in a technically mixed position: the price has moved beyond the high-volume zone, while a significant gap remains before the $280 resistance level. The tone of management guidance — particularly regarding margins and China — is likely to determine whether the current momentum can be sustained or whether the price returns to the area of higher trading density.

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