{"id":16081,"date":"2023-04-25T18:12:34","date_gmt":"2023-04-25T22:12:34","guid":{"rendered":"https:\/\/tlcpa.net\/?p=16081"},"modified":"2023-04-25T18:26:39","modified_gmt":"2023-04-25T22:26:39","slug":"business-update-april-26-2023","status":"publish","type":"post","link":"https:\/\/tlcpa.net\/business-update-april-26-2023\/","title":{"rendered":"Business Update \u2013 April 26, 2023"},"content":{"rendered":"

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.<\/p>\n

Earnings season shows that things aren\u2019t so bad<\/h3>\n

S&P 500’s Q1 earnings season started better than the previous two quarters, but positive earnings surprises and their magnitude are below 5-year averages. While earnings have improved, the index still shows the largest YoY decline since Q2 2020. Get a detailed report here.<\/a><\/p>\n

Tesla net income drops 20%, but revenue and profit close to expectations<\/h3>\n

Tesla\u2019s Q1 revenue and profit were right where analysts expected them to be,<\/a> but the company said that an \u201cunderutilization of new factories\u201d stressed margins, along with other factors.<\/p>\n

Analysts foresee chip demand recovery, AI potential<\/h3>\n

Analysts are projecting a recovery in chip demand<\/a> in the second half of this year, and the stock is trading at a discount to its five-year average. Also, the company’s strong position in artificial intelligence is a positive factor for the stock.<\/p>\n

Ether crosses $2,000 mark after Shanghai upgrade<\/h3>\n

Following the long-anticipated Shanghai upgrade, Ether surpassed $2,000, resulting in a year-to-date increase of over 75%.<\/a> Investors and analysts are optimistic but cautious about the rally.<\/p>\n

Google scrambling as Samsung and Apple consider switching to Bing<\/h3>\n

With up to $23 billion in annual revenue at stake from Samsung and Apple contracts, Google is working on upgrading its search engine<\/a> and developing a new one powered by artificial intelligence to counter the threat from AI competitors like Bing.<\/p>\n

Disney to lay off several thousand workers across divisions in second and largest wave of job cuts<\/h3>\n

Disney is laying off several thousand employees across its divisions<\/a>, including ESPN, Disney Parks, and its Experiences and Product division, as part of a plan to reduce its workforce by 7,000 employees and save $5.5 billion in costs.<\/p>\n

Recession or soft landing? The question is still up in the air<\/h3>\n

The question of whether the economy will experience a crash or a “soft landing” has been a concern. While a recession is considered the conventional option, a “soft landing”<\/a> – a scenario where the economy cools off without tipping into full-blown recession territory – is also possible.<\/p>\n

9 steps to prepare for a possible recession<\/h3>\n

Even if a soft landing is possible, there\u2019s always something to be said for being prepared. Yahoo! Finance rounded up 9 steps to prepare your finances for a recession.<\/a><\/p>\n

IRS reminds taxpayers tax-exempt organizations that annual filing deadline is coming up<\/h3>\n

The annual filing due date for certain returns filed by tax-exempt organizations is normally by the 15th day of the 5th month after the end of an organization’s accounting period. Tax-exempt organizations can request a six-month extension by filing Form 8868.<\/a> The extension does not extend the time for paying tax.<\/p>\n

Millennials are turning to the crystal ball for financial advice<\/h3>\n

A new study found that young people are just as likely to consult fortune tellers as professional financial advisors<\/a> for financial advice. They are also skeptical of traditional financial institutions, preferring social media and other digital sources.<\/p>\n

Get in touch<\/h3>\n

Contact us if you have any questions or want to discuss the next steps for your business. <\/p>\n","protected":false},"excerpt":{"rendered":"

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Earnings season shows that things aren\u2019t so bad S&P 500’s Q1 earnings season started better than the previous two quarters, but positive earnings surprises and their magnitude are below 5-year averages. While earnings have … Continued<\/a><\/p>\n","protected":false},"author":11,"featured_media":15930,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[57,67],"tags":[],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"\nBusiness Update \u2013 April 26, 2023 - Thomas L. Codington, P.A. 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