Stock Movers AT&T Customer Growth; Elon Commits to Tesla; Intel Job Cuts
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Apr 23, 2025 AT&T is impressing investors by attracting customers from rivals with a significant increase in wireless subscribers. Meanwhile, Tesla experiences a stock surge despite missing earnings expectations, as Elon Musk plans to dedicate more time to the company. On the flip side, Intel is set to cut over 20% of its workforce under new leadership, aiming for a leaner operation. Additionally, SAP reports strong cloud growth, exceeding profit estimates and contributing to the positive market sentiment.
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AT&T Leads Customer Growth
- AT&T exceeded analyst expectations with 324,000 wireless postpaid phone net additions in Q1.
- This suggests AT&T is successfully attracting customers from competitors like Verizon in a tough market.
Tesla Stock Gains Despite Earnings Miss
- Tesla shares rose nearly 6.7% despite missing profit and revenue expectations in Q1.
- The market reacted positively to Elon Musk's plan to reduce his government work and focus more on Tesla.
Intel's Major Workforce Cut
- Intel plans to cut over 20% of its staff to streamline management and boost engineering culture.
- Shares rose nearly 5% as investors approve of new CEO Lip-Bu Tan's strategic moves before upcoming Q1 results.