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Oshkosh a Buy Idea at Deutsche Bank | 2023-06-29 15:48:00 | <p>Deutsche Bank reaffirmed its Buy rating and a price target of $99.00 for <a href='https://financialmodelingprep.com/financial-summary/OSK'>Oshkosh (NYSE:OSK)</a>, labeling the stock a 'Catalyst Call: Buy Idea'. The analysts noted that Oshkosh has significantly underperformed its industry group this year, with a 6% decline in its share price compared to an 11% median gain for the coverage universe.</p>
<p>However, the analysts see potential for Oshkosh to deliver a substantial earnings-per-share (EPS) beat this quarter, as the company improves its execution after a challenging period in 2021-22. The analysts attribute this improvement to ongoing enhancements in the supply chain, which they believe will enable Oshkosh to achieve volume growth beyond its current guidance.</p>
<p>Anticipating a significant beat, the analysts also expect the company to raise its full-year EPS guidance. Their forecast for 2023 stands at $6.42 EPS, well above the current Street estimate of $6.16. </p>
| NYSE:OSK | https://financialmodelingprep.com/market-news/fmp-oshkosh-a-buy-idea-at-deutsche-bank | Davit Kirakosyan | Financial Modeling Prep |
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Global Equities Research Expects Demand Recovery for Tesla | 2023-06-29 15:45:00 | <p>According to analysts at Global Equities Research, there will be a demand recovery for <a href='https://financialmodelingprep.com/financial-summary/TSLA'>Tesla (NASDAQ:TSLA)</a> starting in August 2023. The analysts suggest that the recovery in demand is linked to the recent wave of layoffs in the tech industry, as many of the laid-off workers are now finding new employment opportunities in the field of artificial intelligence (AI).</p>
<p>The analysts point out that the majority of tech layoffs are expected to be completed by July. They highlight that during recent hackathons, around 60% of participating hackers had experienced job losses. These individuals are now reinventing themselves in the AI sector and receiving multiple job offers, albeit at slightly lower salary levels (around 5-10% lower) compared to their previous tech positions before the layoffs.</p>
<p>The analysts predict that Tesla's revenue will hit its lowest point in Q2 but expect a slight recovery in Q3, with demand normalizing by Q4. Looking ahead, they foresee Tesla experiencing revenue growth rates of 50% or more in 2024.</p>
| NASDAQ:TSLA | https://financialmodelingprep.com/market-news/fmp-global-equities-research-expects-demand-recovery-for-tesla | Davit Kirakosyan | Financial Modeling Prep |
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Moody's Price Target Raised Ahead of Q2 Earnings | 2023-06-29 15:40:00 | <p>Oppenheimer raised the price target on <a href='https://financialmodelingprep.com/financial-summary/MCO'>Moody's Corp (NYSE:MCO)</a> to $362.00 from $349.00 while maintaining an Outperform rating. The analysts expect strong issuance to provide upside to Q2 estimates, raising the EPS estimate by around 7% to $2.39. </p>
<p>The revised estimates and increased price target reflect positive revenue growth in the Ratings segment. According to the analysts, key points of investor focus include guidance updates, issuance trends, demand for compliance products, and long-term revenue guidance.</p>
| NYSE:MCO | https://financialmodelingprep.com/market-news/fmp-moodys-price-target-raised-ahead-of-q2-earnings- | Davit Kirakosyan | Financial Modeling Prep |
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JMP Securities Raises Opendoor Price Target, Stock Surges 5% | 2023-06-29 09:26:00 | <p><a href='https://financialmodelingprep.com/financial-summary/OPEN'>Opendoor (NASDAQ:OPEN)</a> shares jumped more than 5% pre-market today after JMP Securities raised the price target from $2.50 to $5, citing improved contribution profit due to lower home price volatility.</p>
<p>The analysts highlighted Opendoor's better-than-expected Q1/23 results, positive Q2/23 guidance, and evidence of improving industry trends. Despite low transaction volumes, stabilizing home price volatility suggests higher revenue and contribution profits. </p>
<p>JMP Securities sees Opendoor's solutions as disruptive and expects stock price appreciation as profitability expectations improve.</p>
| NASDAQ:OPEN | https://financialmodelingprep.com/market-news/fmp-jmp-securities-raises-opendoor-price-target-stock-surges-5- | Davit Kirakosyan | Financial Modeling Prep |
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Pfizer Slashed to Neutral at Credit Suisse | 2023-06-29 09:24:00 | <p><a href='https://financialmodelingprep.com/financial-summary/PFE'>Pfizer (NYSE:PFE)</a> was downgraded to Neutral from Outperform and reduced their price target to $40 from $47 by Credit Suisse analysts. They stated that with Pfizer facing uncertainty and limited pipeline catalysts, there are better growth opportunities among other major US peers.</p>
<p>The analysts expressed several concerns, including decreased confidence in the long-term guidance for Covid vaccines and a need for a compelling launch story for the RSV vaccine.</p>
<p>Despite an attractive valuation, the downgrade was driven by the absence of expected positive developments in the pipeline catalysts and business development this year. Credit Suisse believes it will be challenging to improve sentiment due to uncertainties surrounding commercial COVID pricing, reduced business development activities, and the lack of significant upcoming catalysts.</p>
| NYSE:PFE | https://financialmodelingprep.com/market-news/fmp-pfizer-slashed-to-neutral-at-credit-suisse | Davit Kirakosyan | Financial Modeling Prep |
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General Mills Stock Plummets 5% Following Q4 Earnings | 2023-06-28 12:46:00 | <p><a href='https://financialmodelingprep.com/financial-summary/GIS'>General Mills (NYSE:GIS)</a> shares plunged around 5% intra-day today after the company reported its Q4 earnings results, with revenue of $5 billion missing the Street estimate of $5.17 billion. EPS was $1.12, compared to the Street estimate of $1.07.</p>
<p>General Mills has outlined its financial targets for fiscal 2024. The company expects organic net sales to grow between 3% and 4%. General Mills also anticipates a 4% to 6% increase in adjusted diluted EPS in constant currency, relative to the base value of $4.30 earned in fiscal 2023. The company also hiked its quarterly dividend by 9.3% to $0.59 per share, or $2.36 annualized, for an annual yield of 2.9%.</p>
| NYSE:GIS | https://financialmodelingprep.com/market-news/fmp-general-mills-stock-plummets-5-following-q4-earnings- | Davit Kirakosyan | Financial Modeling Prep |
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AeroVironment Shares Gain 5% Following Q4 Earnings | 2023-06-28 12:44:00 | <p><a href='https://financialmodelingprep.com/financial-summary/AVAV'>AeroVironment (NASDAQ:AVAV)</a> stock surged more than 5% intra-day today after the company reported its Q4 earnings results, with revenue of $186 million beating the Street estimate of $164.97 million. EPS came in at $0.99, compared to the Street estimate of $1.02.</p>
<p>The company provided its full 2024 year outlook, anticipating EPS to be in the range of $2.30-$2.60, compared to the Street estimate of $2.04, and revenue in the range of $630-$660 million, compared to the Street estimate of $600 million.</p>
<p>CEO Wahid Nawabi expressed confidence in AeroVironment's prospects for strong growth in fiscal 2024, citing the company's record-setting revenue and backlog. Although AeroVironment was not chosen to move forward with increment 2 of FTUAS (Future Tactical Unmanned Aircraft Systems), Nawabi emphasized that the company's current position bodes well for its future. He stated that AeroVironment has never been in better shape in terms of its future outlook than it is today.</p>
| NASDAQ:AVAV | https://financialmodelingprep.com/market-news/fmp-aerovironment-shares-gain-5-following-q4-earnings- | Davit Kirakosyan | Financial Modeling Prep |
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Frontier Communications Initiated With Outperform at Wolfe | 2023-06-28 12:42:00 | <p>Wolfe Research analysts initiated coverage on <a href='https://financialmodelingprep.com/financial-summary/FYBR'>Frontier Communications (NASDAQ:FYBR)</a> with an Outperform rating, setting a price target of $27.00 on the shares.</p>
<p>The analysts’ comments revolve around their investment thesis centered on Frontier's competitive edge in meeting the ever-increasing demand for consumer data. Frontier has a network that covers over 15 million homes, and they are actively upgrading more than 10 million of these homes to fiber. The analysts highlighted the advantages of fiber, including its superior speed and reliability, which contribute to its popularity among consumers. </p>
<p>Moreover, the analysts noted that fiber is future-proof and likely to remain scarce locally because latecomers to the fiber market often struggle to generate profits. This barrier to entry creates a favorable market position for premium residential broadband providers, leading to a quasi-duopoly structure with strong pricing power and incremental profit margins.</p>
| NASDAQ:FYBR | https://financialmodelingprep.com/market-news/fmp-frontier-communications-initiated-with-outperform-at-wolfe- | Davit Kirakosyan | Financial Modeling Prep |
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General Electric’s Price Target Raised to $125 From $107 | 2023-06-28 12:40:00 | <p>Wolfe Research raised the price target for <a href='https://financialmodelingprep.com/financial-summary/GE'>General Electric (NYSE:GE)</a> from $107 to $125, reaffirming its Outperform rating. As a result, shares gained more than 2% intra-day today.</p>
<p>The analysts explained that the fiscal year 2025 provides a more accurate representation of the company's typical earnings power, and this year serves as the basis for their valuation framework.</p>
<p>The analysts stated that they have updated their Commercial OEM (Original Equipment Manufacturer) delivery forecasts and adjusted the EBIT (Earnings Before Interest and Taxes) bridge to account for a slightly heavier adverse mix between OEM and AM outgrowth. However, they noted that the losses from the LEAP program are narrowing.</p>
<p>As a result, the projected EBIT for 2023 remains unchanged at $5.7 billion, which is at the higher end of the guidance range. The estimated EBIT for 2025 has been increased by approximately 3% to $7.8 billion. The analysts expressed expectations that management will slightly exceed the 20% margin target over that timeframe.</p>
| NYSE:GE | https://financialmodelingprep.com/market-news/fmp-general-electric’s-price-target-raised-to-$125-from-$107 | Davit Kirakosyan | Financial Modeling Prep |
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UniFirst Stock Drops 3% Following Q3 EPS Miss | 2023-06-28 09:25:00 | <p><a href='https://financialmodelingprep.com/financial-summary/UNF'>UniFirst Corp (NYSE:UNF)</a> shares fell more than 3% pre-market today after the company reported its Q3 earnings, with EPS of $1.66 coming in worse than the Street estimate of $1.79. Revenue grew 12.7% year-over-year to $576.67 million, beating the Street estimate of $564.19 million.</p>
<p>Steven Sintros, the President and CEO of UniFirst, emphasized that the company remains committed to addressing the challenges and expenses affecting its operations. Regarding the recent acquisition of Clean Uniform, Sintros highlighted the positive initial progress, primarily centered around preserving Clean's key resources: its employees and its customer base.</p>
<p>For the full 2023 year, the company expects EPS in the range of $5.02-$5.37, compared to the Street estimate of $7.08, and revenue in the range of $2.22-$2.23 million, compared to the Street estimate of $2.217 million.</p>
| NYSE:UNF | https://financialmodelingprep.com/market-news/fmp-unifirst-stock-drops-3-following-q3-eps-miss | Davit Kirakosyan | Financial Modeling Prep |
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Constellation Brands’ Upcoming Q1 Earnings Preview | 2023-06-28 09:23:00 | <p>RBC Capital analysts provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/STZ'>Constellation Brands (NYSE:STZ)</a> ahead of the company’s upcoming Q1/24 earnings, scheduled to be released on Friday. The analysts expect Q1 net sales of $2.471 billion and EPS of $2.92, essentially in line with the Street estimates. </p>
<p>According to the analysts, the company’s shares have outperformed, reflecting improved fundamentals and an acceleration in tracked channel volumes. Overall, the analysts expect strong print and model beer depletions of 6% year-over-year (vs. Street estimate of 5.6%), and they believe the company will clear the consensus bar.</p>
| NYSE:STZ | https://financialmodelingprep.com/market-news/fmp-constellation-brands’-upcoming-q1-earnings-preview- | Davit Kirakosyan | Financial Modeling Prep |
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SYNNEX Stock Plummets 7% Following Q2 Miss | 2023-06-27 12:00:00 | <p><a href='https://financialmodelingprep.com/financial-summary/SNX'>SYNNEX (NYSE:SNX)</a> shares fell more than 7% intra-day today after the company reported its Q2 earnings results, with EPS of $2.43 coming in worse than the Street estimate of $2.55. Revenue fell 7.9% year-over-year to $14.06 billion, missing the Street estimate of $14.44 billion.</p>
<p>According to CEO Rich Hume, the company’s exceptional range of products and services, covering all stages of the process, enabled them to achieve growth in Advanced Solutions and high-growth technologies. This success came at a time when the industry faced decreased demand for PC ecosystem products due to the ongoing effects of the post-pandemic decline.</p>
<p>For Q2/23, the company expects EPS to be in the range of $2.20-$2.70, compared to the Street estimate of $2.76, and revenue in the range of $13.5-$14.5 billion, compared to the Street estimate of $14.986 billion.</p>
| NYSE:SNX | https://financialmodelingprep.com/market-news/fmp-synnex-stock-plummets-7-following-q2-miss | Davit Kirakosyan | Financial Modeling Prep |
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Snowflake Stock Gains 3% on NVIDIA Partnership | 2023-06-27 11:57:00 | <p>Shares of <a href='https://financialmodelingprep.com/financial-summary/SNOW'>Snowflake (NYSE:SNOW)</a> rose more than 3% intra-day today after the company announced a new partnership with leading chip manufacturer NVIDIA.</p>
<p>Under this collaboration, the two companies will work together to enable Snowflake's customers to develop personalized generative AI applications using their proprietary data.</p>
<p>Frank Slootman, the Chairman and CEO of Snowflake, expressed his enthusiasm, stating that the partnership with Nvidia will bring high-performance machine learning and artificial intelligence capabilities to Snowflake's extensive volumes of proprietary and structured enterprise data. He believes this collaboration will pave the way for unprecedented insights, predictions, and prescriptions in the global business realm.</p>
<p>By utilizing Snowflake's platform, businesses of all sizes will have the opportunity to create custom LLMs (Large Language Models) for advanced generative AI services, including chatbots, search functionalities, and summarization.</p>
| NYSE:SNOW | https://financialmodelingprep.com/market-news/fmp-snowflake-stock-gains-3-on-nvidia-partnership- | Davit Kirakosyan | Financial Modeling Prep |
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Delta Air Lines Stock Gains 3% Following Guidance Update | 2023-06-27 11:54:00 | <p><a href='https://financialmodelingprep.com/financial-summary/DAL'>Delta Air Lines (NYSE:DAL)</a> shares surged more than 3% today morning following the company's announcement that it anticipates its full-year profit forecast to be at the upper end of its previous projection. Delta attributes this positive outlook to the sustained demand for travel, stating that it expects its fiscal year 2023 EPS to be within the high range of $5-6. Additionally, Delta reiterates its targets for the fiscal year 2024. </p>
<p>The company also highlights that consumer trends continue to exhibit favorable patterns. For the current quarter, Delta anticipates reporting a profit ranging from $2.25 to $2.50 per share, surpassing the Street estimate of $2.21.</p>
<p>Furthermore, Delta expects its full-year operating margin to be at the upper end of the 10-12% range. Similarly, the return on invested capital (ROIC) for the fiscal year is now projected to exceed 13%, compared to the previous forecast of "low double digits."</p>
<p>Delta foresees a free cash flow (FCF) of $3 billion for the fiscal year, an increase from the earlier projection of "greater than $2 billion." Overall, adjusted revenue for the fiscal year is expected to rise by 17-20%, with second-quarter revenue predicted to increase by 17-18%.</p>
| NYSE:DAL | https://financialmodelingprep.com/market-news/fmp-delta-air-lines-stock-gains-3-following-guidance-update | Davit Kirakosyan | Financial Modeling Prep |
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Alibaba Downgraded at Bernstein | 2023-06-27 11:52:00 | <p>Bernstein analysts downgraded <a href='https://financialmodelingprep.com/financial-summary/BABA'>Alibaba (NYSE:BABA)</a> stock despite its "very cheap" valuation. They shifted from an Outperform rating to a Market Perform rating and reduced their price target by $32 to $98 per share.</p>
<p>The decision to downgrade Alibaba was based on the belief that the stock had already factored in sustained low growth and that the reopening of the economy would contribute to improved growth through a better category mix. However, the stock has been trading within a range since then, and while it remains undervalued, the previously assumed scenario of perpetual low growth is no longer considered an aggressive bear case, according to Bernstein’s note.</p>
<p>The analysts also highlight the risk of a "value trap," as quarterly comps are expected to become more challenging going forward. Furthermore, the note suggests that Alibaba's challenges extend beyond a lack of user traffic. There are concerns regarding merchant crowding, which drives up search costs and puts pressure on merchant return on investment (ROI).</p>
| NYSE:BABA | https://financialmodelingprep.com/market-news/fmp-alibaba-downgraded-at-bernstein- | Davit Kirakosyan | Financial Modeling Prep |
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Walgreens Boots Alliance Stock Plunges 8% on Weak Q3 Earnings & Guidance Cut | 2023-06-27 10:39:00 | <p><a href='https://financialmodelingprep.com/financial-summary/WBA'>Walgreens Boots Alliance (NASDAQ:WBA)</a> shares dropped around 8% pre-market today after the company reported its Q3 earnings, with EPS of $1.00 coming in worse than the Street estimate of $1.08. Revenue was $35.4 billion, compared to the Street estimate of $34.24 billion.</p>
<p>The company cut its full 2023-year outlook, expecting EPS in the range of $4.00-$4.05 (from $4.45-$4.65), compared to the Street estimate of $4.46.</p>
<p>CEO Rosalind Brewer explained that the quarter was marked by margin pressures due to a notable decrease in demand for COVID-related services, a consumer base that is more cautious and focused on value, and a recent decline in respiratory season activity.</p>
| NASDAQ:WBA | https://financialmodelingprep.com/market-news/fmp-walgreens-boots-alliance-stock-plunges-8-on-weak-q3-earnings-&-guidance-cut | Davit Kirakosyan | Financial Modeling Prep |
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Goldman Sachs is Bullish on First Solar | 2023-06-27 10:11:00 | <p>Goldman Sachs reiterated its Buy rating and $272.00 price target on <a href='https://financialmodelingprep.com/financial-summary/FSLR'>First Solar (NASDAQ:FSLR)</a>, noting it is bullish on the company due to upcoming catalysts in H2/23 that could boost Street estimates and the stock price. </p>
<p>Based on their research, the analysts said that it appears that there are increasingly active conversations about expanding manufacturing capacity, possibly in the Southeastern United States. This development has the potential to be a significant catalyst leading into the second quarter earnings. Additionally, their discussions with the supply chain indicate that bookings in the US utility-scale sector have shown signs of improvement. This improvement can be attributed to the Treasury's updated guidance regarding domestic content rules in the Inflation Reduction Act.</p>
| NASDAQ:FSLR | https://financialmodelingprep.com/market-news/fmp-goldman-sachs-is-bullish-on-first-solar- | Davit Kirakosyan | Financial Modeling Prep |
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Carnival Stock Drops 10% After Q2 Earnings | 2023-06-26 12:58:00 | <p><a href='https://financialmodelingprep.com/financial-summary/CCL'>Carnival (NYSE:CCL)</a> shares plunged more than 10% intra-day today after the company reported its Q2 earnings.</p>
<p>Q2 EPS of ($0.31) came in better than the Street estimate of ($0.34). Revenue was $4.9 billion, beating the Street estimate of $4.78 billion. For the full 2023 year, the company expects adjusted EBITDA of $4.10-$4.25 billion, higher than its previous guidance in March and with a midpoint increase of $175 million.</p>
<p>Following the earnings, Stifel reaffirmed its Buy rating and set a price target of $18.00 for the company, anticipating a "sell the news" reaction from investors regarding the shares. Acknowledging the significant upward trajectory of shares in the past month, analysts believe that short-term investors seeking quick gains have been riding the momentum wave.</p>
<p>The analysts suggest that these investors may question the potential for further improvements in the near term, leading to downward pressure on the stock.</p>
| NYSE:CCL | https://financialmodelingprep.com/market-news/fmp-carnival-stock-drops-10-after-q2-earnings | Davit Kirakosyan | Financial Modeling Prep |
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Sherwin-Williams Upgraded to Outperform | 2023-06-26 12:54:00 | <p>BMO Capital analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/SHW'>Sherwin-Williams (NYSE:SHW)</a> from Market Perform to Outperform and increased the firm's price target on the stock to $275 per share from $269.</p>
<p>The analysts highlighted the increased tailwinds for Sherwin-Williams, considering it a "high-quality" company. They conveyed positivity regarding the outlook for the company, citing the anticipated decline of raw materials in the near future and indications of an improved housing market beyond initial expectations.</p>
<p>With the new target price of $275, which offers a double-digit upside, and the potential for consensus estimates to be revised upward (in contrast to many other companies in the sector facing potential downward revisions), the analysts believe the risk/reward profile for Sherwin-Williams is relatively compelling.</p>
| NYSE:SHW | https://financialmodelingprep.com/market-news/fmp-sherwin-williams-upgraded-to-outperform- | Davit Kirakosyan | Financial Modeling Prep |
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Uber’s Price Target Raised at Bernstein | 2023-06-26 12:52:00 | <p>Bernstein raised <a href='https://financialmodelingprep.com/financial-summary/UBER'>Uber (NYSE:UBER)</a> price target to $50 from $45 per share, asserting that a "bull case has arrived" for the company. With a Top Pick status at Bernstein, Uber shares have surged approximately 50% in the past two months, reflecting continuous improvement in the company's fundamentals.</p>
<p>The analysts expressed confidence in Uber's prospects, stating they believe the company has a scale/market share advantage. They further highlighted Uber's commitment to enhancing profitability, exercising capital discipline, and achieving healthy growth.</p>
<p>The analysts emphasized that Uber holds the potential to become one of the most compelling free cash flow (FCF) growth stories in the internet industry over the next 2-3 years. The analysts projected that Uber's FCF would increase from around $2 billion presently to nearly $6 billion by 2025.</p>
| NYSE:UBER | https://financialmodelingprep.com/market-news/fmp-uber’s-price-target-raised-at-bernstein | Davit Kirakosyan | Financial Modeling Prep |
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Morgan Stanley is Bullish on Palo Alto Networks | 2023-06-26 12:50:00 | <p>Morgan Stanley raised <a href='https://financialmodelingprep.com/financial-summary/PANW'>Palo Alto Networks (NASDAQ:PANW)</a> price target to $302 from $255, reiterating an Overweight rating on the stock. The analysts predict that the company will surpass a $100 billion market cap within the next 12 months. This growth is expected to be driven by accelerating share gain from vendor consolidation, an expanding total addressable market (TAM), and improving margins.</p>
<p>The basis for this outlook is the company's broad platform evolution, which enables the consolidation of security spending across a large installed base. Additionally, the company's higher mix of recurring Next-Gen SaaS Security revenue and significant margin expansion following a multi-year investment cycle contribute to the positive assessment. The analysts also highlighted the increasing visibility of AI tailwinds for the company. </p>
| NASDAQ:PANW | https://financialmodelingprep.com/market-news/fmp-morgan-stanley-is-bullish-on-palo-alto-networks | Davit Kirakosyan | Financial Modeling Prep |
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Playa Hotels & Resorts Stock Plummets 4% on BofA’s Double Downgrade | 2023-06-26 09:28:00 | <p>Shares of <a href='https://financialmodelingprep.com/financial-summary/PLYA'>Playa Hotels & Resorts (NASDAQ:PLYA)</a> plunged more than 4% pre-market today following a significant downgrade by BofA Securities. The bank downgraded the company from Buy to Underperform, slashing the price target from $10.00 to $8.00. This downgrade underscores the potential challenges that Playa Hotels & Resorts may face in the midst of current market uncertainties.</p>
<p>The downgrade primarily stems from concerns about weakening demand trends in the Caribbean, which had previously experienced a boost due to the pandemic. The pent-up demand for leisure travel, which had driven growth, is now stabilizing, posing a potential threat to Playa Hotels & Resorts.</p>
<p>The analysts also highlighted the risks associated with potential over-earning and a shift in tourism markets. As cities, international markets, and cruise lines reopen, the competition within the resort industry is intensifying. This heightened competition, coupled with Playa Hotels & Resorts' higher operating leverage compared to its asset light peers, could hinder its ability to effectively adapt to market fluctuations.</p>
| NASDAQ:PLYA | https://financialmodelingprep.com/market-news/fmp-playa-hotels-&-resorts-stock-plummets-4-on-bofa’s-double-downgrade | Davit Kirakosyan | Financial Modeling Prep |
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Meta Platforms’ Price Target Cut at UBS | 2023-06-26 09:25:00 | <p>UBS raised the price target on <a href='https://financialmodelingprep.com/financial-summary/META'>Meta Platforms (NASDAQ:META)</a> from $300 to $335 per share, while maintaining a Buy rating and a Top Idea designation.</p>
<p>The analysts believe that generative AI technology will be a significant growth driver for Meta. They expect the social media company to extensively integrate this next-generation technology into its apps. The analysts are confident that Meta will be recognized as a winner in the AI space, which adds another favorable aspect to the bullish case for the company.</p>
<p>The analysts noted that there has been discussion about Meta's AI tools, but investor conversations have predominantly focused on the advertising technology angle, rather than the potential consumer applications that could drive new engagement and advertising units. The analysts believe that the current share price does not fully reflect this potential.</p>
| NASDAQ:META | https://financialmodelingprep.com/market-news/fmp-meta-platforms’-price-target-cut-at-ubs | Davit Kirakosyan | Financial Modeling Prep |
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CarMax Shares Surge 10% Following Q1 Beat | 2023-06-23 20:06:00 | <p><a href='https://financialmodelingprep.com/financial-summary/KMX'>CarMax (NYSE:KMX)</a> shares jumped more than 10% intra-day today after the company posted its Q1 results, with EPS of $1.44 coming in significantly above the Street estimate of $0.79. Revenue was $7.7 billion, beating the Street estimate of $7.49 billion.</p>
<p>The company experienced a 9.6% year-over-year decline in retail used unit sales and an 11.4% year-over-year decline in comparable store used unit sales. </p>
<p>CarMax's president and CEO, Bill Nash, noted that despite the challenging macro environment, the company's intentional efforts have led to positive developments in their business. In particular, unit performance in used, wholesale, consumer, and dealer purchases exhibited sequential improvements when compared to the year-over-year trends observed in the second half of the fiscal year 2023.</p>
| NYSE:KMX | https://financialmodelingprep.com/market-news/fmp-carmax-shares-surge-10-following-q1-beat | Davit Kirakosyan | Financial Modeling Prep |
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Apple’s Price Target Raised to $225 From $210 | 2023-06-23 20:04:00 | <p>Tigress Financial Partners analysts raised their price target on <a href='https://financialmodelingprep.com/financial-summary/AAPL'>Apple (NASDAQ:AAPL)</a> to $225.00 previously $210.00 while maintaining a Strong Buy rating. According to the analysts, the reacceleration of growth in emerging markets and Asia, the introduction of the new Vision Pro spatial computer leading to an expanded Apple ecosystem, and the increasing revenue from Services will drive long-term improvements in business performance and enhance shareholder value. </p>
<p>Alongside the Vision Pro mixed reality AR/VR headset, Apple has launched various new and upgraded products that boost consumer engagement and contribute to the growth of its ecosystem and services revenue. Despite a 3% year-on-year decline in Q2 revenue to $94.8 billion, which surpassed market expectations, Apple achieved an all-time high in services revenue with a 5% year-on-year increase to $20.9 billion. The company also reported a Q2 record of $51.3 billion in iPhone revenue, marking a 2% year-on-year growth despite significant foreign exchange challenges.</p>
| NASDAQ:AAPL | https://financialmodelingprep.com/market-news/fmp-apple’s-price-target-raised-to-$225-from-$210 | Davit Kirakosyan | Financial Modeling Prep |
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Uber’s Price Target Raised at Barclays | 2023-06-23 20:02:00 | <p>Following a 75% year-to-date surge in <a href='https://financialmodelingprep.com/financial-summary/UBER'>Uber (NYSE:UBER)</a> stock, Barclays analysts raised their price target on the company's shares to $57 from $45.</p>
<p>The analysts stated that even without considering the future possibilities of Travel Concierge AI, there is a foreseeable path for Uber's shares to reach $70 based on a 15x valuation of $10 billion in EBITDA. While the achievement of the $10 billion EBITDA figure is expected by 2026, the analysts anticipate that the $70 share level could be reached sometime in 2025, given consistent growth and margin improvement.</p>
<p>The analysts also mentioned that there are positive catalysts that could drive Uber's shares higher. An update on Uber's long-term forecast by the management, expected early next year, could serve as a favorable catalyst. Furthermore, if Uber attains an investment grade status and implements a hike in its share repurchases, it has the potential to trigger a re-rating of its shares.</p>
| NYSE:UBER | https://financialmodelingprep.com/market-news/fmp-uber’s-price-target-raised-at-barclays- | Davit Kirakosyan | Financial Modeling Prep |
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Apogee Enterprises Stock Jumps 8% After Q1 Beat & Raised Guidance | 2023-06-23 19:59:00 | <p><a href='https://financialmodelingprep.com/financial-summary/APOG'>Apogee Enterprises (NASDAQ:APOG)</a> share surged more than 8% intra-day today after the company reported its Q1 earnings results, with EPS of $1.05 coming in better than the Street estimate of $0.91. </p>
<p>Revenue increased 1.4% year-over-year to $361.71 million, beating the Street estimate of $354.53 million, primarily driven by significant growth in Architectural Glass, although there was a decrease in net sales for Architectural Services.</p>
<p>In his remarks, CEO Silberhorn expressed his satisfaction with the ongoing implementation of their strategy, which has led to enhanced financial performance. He expressed confidence in their solid market position, the progress made in operational execution, and their emphasis on providing unique products and services.</p>
<p>The company raised its fiscal 2024 outlook, expecting EPS in the range of $4.15-$4.45, compared to the Street estimate of $4.03.</p>
| NASDAQ:APOG | https://financialmodelingprep.com/market-news/fmp-apogee-enterprises-stock-jumps-8-after-q1-beat-&-raised-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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Accenture Reports Better Than Expected Q3 Earnings | 2023-06-23 08:33:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ACN'>Accenture (NYSE:ACN)</a> reported its Q3 earnings results yesterday, with EPS of $3.19 coming in better than the Street estimate of $3.01. Revenue was $16.6 billion, beating the Street estimate of $16.49 billion.</p>
<p>Management noted continued pressure on revenue and bookings from smaller deals, especially in Strategy & Consulting, systems integration work and Communications, Media & Technology. New bookings increased 2% year-over-year on a reported basis, and increased 4% in local currency to $22.1B in Q3 for a book-to-bill ratio of 1x.</p>
<p>For Q4/23, the company expects revenue to be in the range of $15.75-$16.35 billion, compared to the Street estimate of $16.35 billion. For the full year, the company sees EPS in the range of $11.52-$11.63, compared to the Street estimate of $11.60.</p>
| NYSE:ACN | https://financialmodelingprep.com/market-news/fmp-accenture-reports-better-than-expected-q3-earnings | Davit Kirakosyan | Financial Modeling Prep |
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Fastly’s Analyst Day Takeaways | 2023-06-23 08:31:00 | <p>RBC Capital analysts provided their key takeaways from <a href='https://financialmodelingprep.com/financial-summary/FSLY'>Fastly (NYSE:FSLY)</a> Analyst Day, where management provided 2026 targets implying accelerating revenue growth and a significant margin turnaround. </p>
<p>While outlined growth drivers seem encouraging (broadening opportunity, enhanced product innovation, packaged offerings), the analysts exercise caution given Fastly remains #3 in a low-growth market with persistent pricing pressure and potential for ongoing initiatives to take time to drive substantial change. </p>
<p>According to the analysts, the margin targets seem more reasonable given newfound operational discipline and clear low-hanging fruit for cost reduction. However, maintaining a 600 bps of annual margin improvement might be challenging while balancing growth acceleration aspirations.</p>
<p>The analysts raised their price target to $11 from $9 while keeping their Underperform rating unchanged.</p>
| NYSE:FSLY | https://financialmodelingprep.com/market-news/fmp-fastly’s-analyst-day-takeaways | Davit Kirakosyan | Financial Modeling Prep |
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Chemours Stock Falls 2% on BofA’s Downgrade | 2023-06-22 12:57:00 | <p><a href='https://financialmodelingprep.com/financial-summary/CC'>Chemours (NYSE:CC)</a> shares fell around 2% intra-day today after BofA Securities analysts downgraded the company to Neutral from Buy and reduced their price target on the stock to $37.00 from $41.00. </p>
<p>The analysts mentioned that titanium dioxide (TiO2) pigments have been underperforming base coatings demand since Q3/22, and the expected improvement in Q2 did not fully materialize. The lack of volumes hampers the impact of lower raw material costs. </p>
<p>Although a sequential pickup in pigment volumes and EBITDA is still anticipated, the analysts lowered the forecast due to ongoing destocking. Additionally, the Advanced Materials segment of the business is expected to face similar economic headwinds, leading to a downward adjustment in Advanced Performance Materials (APM) expectations.</p>
| NYSE:CC | https://financialmodelingprep.com/market-news/fmp-chemours-stock-falls-2-on-bofa’s-downgrade | Davit Kirakosyan | Financial Modeling Prep |
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Target's Stock is a Notable Buying Opportunity, Says Goldman Sachs | 2023-06-22 12:55:00 | <p>Goldman Sachs analysts consider the recent pullback in <a href='https://financialmodelingprep.com/financial-summary/TGT'>Target (NYSE:TGT)</a> stock as a notable buying opportunity. The firm raised its price target to $185 from $180, maintaining a Buy rating. Although the stock has lost around 22% of its market cap since April 11 and is trading at a relative multiple not seen since June 2022, analysts believe it has attracted investor interest. </p>
<p>However, a consumer boycott and tentative consumer sentiment pose challenges. Despite revising Q2 estimates to reflect reduced foot traffic, the analysts reiterate their Buy rating, anticipating limited impact beyond one quarter. The stock's current approximately 25% discount already accounts for a slower top line in the uncertain consumer landscape.</p>
| NYSE:TGT | https://financialmodelingprep.com/market-news/fmp-targets-stock-is-a-notable-buying-opportunity-says-goldman-sachs- | Davit Kirakosyan | Financial Modeling Prep |
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Kellogg Earns an Upgrade at Bernstein | 2023-06-22 12:52:00 | <p>Bernstein analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/K'>Kellogg (NYSE:K)</a> to Market Perform from Underperform, maintaining their $62 price target. The analysts find the stock's valuation "seriously attractive," trading at a 5-year low and 15-year low relative to its U.S. Food peers. </p>
<p>Since the announcement of its divestment one year ago, Kellogg's stock has exhibited weaker performance compared to its U.S. Food peers, with a decline of 15%, and its primary competitor GIS, with a decline of 26%.</p>
<p>Despite underperforming peers and a spin-off (its North American cereal business) creating uncertainty, analysts believe investors have overlooked Kellogg's improved earnings outlook.</p>
| NYSE:K | https://financialmodelingprep.com/market-news/fmp-kellogg-earns-an-upgrade-at-bernstein- | Davit Kirakosyan | Financial Modeling Prep |
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Dow Slashed to Underperform at BofA Securities | 2023-06-22 12:50:00 | <p>BofA Securities analysts downgraded <a href='https://financialmodelingprep.com/financial-summary/DOW'>Dow (NYSE:DOW)</a> to Underperform from Neutral and lowered their price target on the stock to $55.00 from $64.00. They stated that the anticipated demand recovery for Dow has not materialized as expected, negatively impacting prices. Consequently, the analysts lowered the EBITDA estimates for 2023-24 by 10% each, to approximately $6.0 billion and $7.1 billion, respectively. </p>
<p>The analysts also believe that Street estimates for the second half of 2023 and 2024 may face downside risks. Considering the challenging outlook and adjusted forecast, the current valuation of Dow appears high, with limited potential upside to the price target, according to the analysts.</p>
| NYSE:DOW | https://financialmodelingprep.com/market-news/fmp-dow-slashed-to-underperform-at-bofa-securities- | Davit Kirakosyan | Financial Modeling Prep |
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Applied Optoelectronics Shares Jump 12% on Partnership With Microsoft | 2023-06-22 08:28:00 | <p>Shares of <a href='https://financialmodelingprep.com/financial-summary/AAOI'>Applied Optoelectronics (NASDAQ:AAOI)</a> surged more than 12% pre-market today following the company's announcement of a new agreement with Microsoft (NASDAQ:MSFT). Under the agreement, Applied Optoelectronics will offer specific design and assembly services for goods to Microsoft. The duration of the agreement is set for five years and will renew automatically unless either party terminates it.</p>
<p>The scope of work within the agreement includes provisions that emphasize Applied Optoelectronics' commitment to maintaining a dedicated production line for the goods and offering a three-year warranty for them, as stated by the company.</p>
| NASDAQ:AAOI | https://financialmodelingprep.com/market-news/fmp-applied-optoelectronics-shares-jump-12-on-partnership-with-microsoft- | Davit Kirakosyan | Financial Modeling Prep |
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Steelcase Beats Q1 EPS & Revenue Estimates | 2023-06-22 08:26:00 | <p><a href='https://financialmodelingprep.com/financial-summary/SCS'>Steelcase (NYSE:SCS)</a> released its Q1 earnings report yesterday, surpassing expectations. The company reported an EPS of $0.09, above the Street estimate of $0.01. Revenue also exceeded expectations, growing 2% year-over-year to $751.9 million, compared to the Street estimate of $719.23 million.</p>
<p>The gross margin for the quarter was 31.2%, showing a significant increase of 530 basis points compared to the previous year. This growth was driven by favorable pricing and operational efficiencies.</p>
<p>Looking ahead to Q2/24, Steelcase anticipates an EPS range of $0.19 to $0.23, compared to the Street estimate of $0.21. The company expects revenue in the range of $815 million to $840 million, compared to the Street estimate of $841 million.</p>
<p>CEO Sara Armbruster expressed optimism about the company's performance, stating that they are on track to achieve their fiscal 2024 financial targets, partly due to better-than-expected results from their large corporate customers.</p>
| NYSE:SCS | https://financialmodelingprep.com/market-news/fmp-steelcase-beats-q1-eps-&-revenue-estimates- | Davit Kirakosyan | Financial Modeling Prep |
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Peloton Stock Drops 9% on Downgrade | 2023-06-21 12:25:00 | <p><a href='https://financialmodelingprep.com/financial-summary/PTON'>Peloton (NASDAQ:PTON)</a> shares plunged more than 9% intra-day today after Wolfe Research downgraded the company to Underperform from Peer Perform with a price target of $6 per share. Key factors behind Wolfe's bearish stance on Peloton include declining demand in the long term, a lack of confidence in new growth initiatives, and an unclear path to achieving sustainable profitability and free cash flow.</p>
<p>The analysts noted concerns about the potential decline in subscriber growth despite the significantly reduced outlook for Peloton's long-term growth. Additionally, the analysts pointed out that the unit economics of the business is deteriorating due to new strategic initiatives and limited pricing power.</p>
<p>Furthermore, Wolfe highlighted that new growth initiatives such as FaaS and Digital are still in progress and their potential contribution to sustained growth and profitability remains uncertain.</p>
| NASDAQ:PTON | https://financialmodelingprep.com/market-news/fmp-peloton-stock-drops-9-on-downgrade | Davit Kirakosyan | Financial Modeling Prep |
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Uber’s Price Target Raised at Oppenheimer | 2023-06-21 12:23:00 | <p>Oppenheimer analysts raised their price target on <a href='https://financialmodelingprep.com/financial-summary/UBER'>Uber Inc. (NYSE:UBER)</a> to $65.00 from $55.00 while reiterating their Outperform rating. Its confidence in Uber's consumer tailwinds led to the company remaining a top large-cap pick at Oppenheimer.</p>
<p>In Q1, gross bookings for Uber rose by 19%. The company has a positive outlook for Q2, expecting a 15% increase, thanks to its exposure to consumer spending verticals that show favorable trends. Notably, categories such as travel and restaurants are projected to grow by 15% this year. Conversely, weaknesses in consumer spending, particularly in building materials, furniture stores (down 11% year-over-year in April), and electronics and clothing stores (down 3% in May), do not affect Uber's performance, according to the analysts.</p>
<p>Furthermore, the analysts pointed out that Uber's inclusion in the S&P 500 is anticipated, potentially occurring as early as December, making it another reason to consider owning the stock.</p>
| NYSE:UBER | https://financialmodelingprep.com/market-news/fmp-uber’s-price-target-raised-at-oppenheimer- | Davit Kirakosyan | Financial Modeling Prep |
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Citi Cuts MarketAxess’ Price Target, Shares Fall | 2023-06-21 12:21:00 | <p>Citi analysts reduced their price target on <a href='https://financialmodelingprep.com/financial-summary/MKTX'>MarketAxess (NASDAQ:MKTX)</a> to $330.00 from $415.00 while maintaining a Buy rating. The analysts also initiated a 30-day negative catalyst watch ahead of the release of June/Q2 metrics. Shares fell around 2% intra-day today.</p>
<p>According to the analysts, their estimates have been updated to reflect revised volume assumptions. The revised Q2/23 EPS estimate is $1.56, which is 11% below consensus. The company has been under pressure due to volume trends, and considering the magnitude of the expected revision, there is a potential for further downside in the near term. </p>
<p>However, the analysts believe that Q2 could represent a low point in terms of volumes/FPM, and the outlook for H2/23 is more positive. This is based on the expectation of more consistent issuance trends and potentially increased spread volatility.</p>
| NASDAQ:MKTX | https://financialmodelingprep.com/market-news/fmp-citi-cuts-marketaxess’-price-target-shares-fall | Davit Kirakosyan | Financial Modeling Prep |
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Winnebago Industries Report Q3 Revenue Miss, Stock Drops 3% | 2023-06-21 12:18:00 | <p><a href='https://financialmodelingprep.com/financial-summary/WGO'>Winnebago Industries (NYSE:WGO)</a> experienced disappointing sales during its fiscal third quarter, causing its stock to drop over 3% intra-day today.</p>
<p>Although the company's adjusted earnings per share were $2.13, surpassing analysts' expectations of $1.80, its revenue for the third quarter decreased by 38% compared to the previous year, amounting to $900.8 million. This revenue figure was significantly lower than the projected $988.13 million.</p>
<p>The substantial decline in sales can be attributed to the motorhome business of the company, which performed well below expectations. Adjusted EBITDA and operating revenue declined by 50% and 54% respectively, compared to the previous year.</p>
| NYSE:WGO | https://financialmodelingprep.com/market-news/fmp-winnebago-industries-report-q3-revenue-miss-stock-drops-3 | Davit Kirakosyan | Financial Modeling Prep |
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Adobe Earns an Upgrade on AI Potential | 2023-06-21 08:43:00 | <p>BMO Capital analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/ADBE'>Adobe (NASDAQ:ADBE)</a> to Outperform from Market Perform and increased their price target to $570.00 from $500.00, noting it believes the software company can attract new users through generative artificial intelligence (AI).</p>
<p>The analysts stated that the stock upgrade is based on the assumption that new users and price/mix will outweigh generative AI efficiency gains. The early availability of Firefly, a controlled beta version, has garnered interest from millions of users, including non-Creative Cloud users. </p>
<p>Positive feedback from BMO's Adobe Express survey further reinforces their bullish stance. The analysts predict new annual recurring revenue (ARR) to remain around $1.8 billion through fiscal 2024. Despite the recent stock price increase, the analysts see additional upside compared to other large-cap growth stocks.</p>
| NASDAQ:ADBE | https://financialmodelingprep.com/market-news/fmp-adobe-earns-an-upgrade-on-ai-potential- | Davit Kirakosyan | Financial Modeling Prep |
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Rivian Automotive’s Price Target Cut at Mizuho | 2023-06-21 08:41:00 | <p>Mizuho analysts reaffirmed a Buy rating on <a href='https://financialmodelingprep.com/financial-summary/RIVN'>Rivian Automotive (NASDAQ:RIVN)</a> but lowered their price target to $27.00 from $30.00. The company is focusing on ramping up production and preparing factories for increased capacity. Mizuho expects Rivian to achieve around 50,000 units in production in 2023. Planned line downs in 2024 will allow for enhancements such as next-gen network architecture and simplified wire harnesses. </p>
<p>Mizuho projects an annual capacity of approximately 85,000 units by the end of 2024. For the electric delivery van (EDV), the analysts predict a capacity of about 65,000 units, with production estimates raised to around 24,000 units in 2024.</p>
| NASDAQ:RIVN | https://financialmodelingprep.com/market-news/fmp-rivian-automotive’s-price-target-cut-at-mizuho | Davit Kirakosyan | Financial Modeling Prep |
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Olin Stock Drops 6% Following Revised Outlook | 2023-06-20 11:38:00 | <p><a href='https://financialmodelingprep.com/financial-summary/OLN'>Olin (NYSE:OLN)</a> shares dropped around 6% intra-day today as the company revised its second-quarter outlook. The chemical products manufacturer lowered its adjusted EBITDA range to $350-360 million due to various factors, including a prolonged maintenance turnaround at its vinyl chloride monomer plant in Freeport, Texas. </p>
<p>This extension resulted in increased costs and reduced profits. Additionally, Olin plans to cease operations at its Gumi, South Korea facility and reduce capacity at its Freeport, Texas facility, along with downsizing sales and support staff in Asia. These actions are expected to incur approximately $12 million in restructuring charges for the second quarter.</p> | NYSE:OLN | https://financialmodelingprep.com/market-news/fmp-olin-stock-drops-6-following-revised-outlook | Davit Kirakosyan | Financial Modeling Prep |
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AT&T CFO cites weak new customer trends | 2023-06-20 11:34:00 | <p><a href='https://financialmodelingprep.com/financial-summary/T'>AT&T (NYSE:T)</a> experienced a slight decline of more than 1% intra-day today following statements made by the company's CFO, Pascal Descroches, suggesting that AT&T is encountering business trends that are weaker than anticipated, as reported by Bloomberg.</p>
<p>At the Bank of America C-Suite Technology, Media, and Telecommunications Conference, the CFO disclosed that the company's second-quarter addition of new phone customers was around 300,000, which fell considerably short of the anticipated 476,000 additions.</p>
<p>Addressing the rumors surrounding Amazon's potential entry into the mobile phone services market for its Prime members, the CFO commented that the wireless industry lacks incentives to collaborate with the e-commerce giant.</p>
| NYSE:T | https://financialmodelingprep.com/market-news/fmp-at&t-cfo-cites-weak-new-customer-trends | Davit Kirakosyan | Financial Modeling Prep |
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Baidu Upgraded to Overweight on AI Opportunities | 2023-06-20 11:31:00 | <p>Morgan Stanley analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/BIDU'>Baidu (NASDAQ:BIDU)</a> shares to Overweight from Equalweight and raised their price target to $190 from $160, noting that the company offers the most extensive exposure to artificial intelligence (AI) among all Chinese stocks.</p>
<p>The analysts anticipate AI to drive significant transformations in business, resulting in improved productivity and efficiency through increased IT spending and accelerated adoption of cloud services. Baidu, with its AI capabilities, is expected to gain market share in the cloud industry. Morgan Stanley believes that China's AI development has reached a crucial turning point, and Baidu is regarded as the most favorable investment to capitalize on the $7.4 trillion AI internet opportunity.</p>
| NASDAQ:BIDU | https://financialmodelingprep.com/market-news/fmp-baidu-upgraded-to-overweight-on-ai-opportunities | Davit Kirakosyan | Financial Modeling Prep |
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Delta Air Lines Started at Citi, Shares are Expected to Outperform Near-Term | 2023-06-20 11:24:00 | <p>Citi analysts initiated a 30-day Positive Catalyst Watch on <a href='https://financialmodelingprep.com/financial-summary/AL'>Delta Air Lines (NYSE:AL)</a> due to their belief that the stock, which holds a Buy rating, has the potential to perform exceptionally well in the upcoming weeks.</p>
<p>The analysts’ optimism stems from the anticipation of Delta's forthcoming earnings report, which he sees as a positive trigger. They expect the guidance and results to address any previous concerns within the market that suggested a decline in demand. Considering the current robust recovery in travel demand, analysts predict that Delta's demand trends remained strong during the second quarter.</p>
<p>The analysts said that any fluctuations in advanced purchase patterns and last-minute bookings are more likely indicative of evolving demand trends rather than a weakening of demand itself. He highlighted Delta's reinstatement of its cash dividend as evidence supporting this point.</p>
| NYSE:AL | https://financialmodelingprep.com/market-news/fmp-delta-air-lines-started-at-citi-shares-are-expected-to-outperform-near-term | Davit Kirakosyan | Financial Modeling Prep |
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RBC Capital Cuts Price Target on Nike Ahead of Q4 Earnings | 2023-06-19 16:33:00 | <p>RBC Capital analysts lowered <a href='https://financialmodelingprep.com/financial-summary/NKE'>Nike's (NYSE:NKE)</a> price target from $145 to $138 per share while keeping their Outperform rating, ahead of the company's Q4/23 earnings report, which is scheduled on June 29. </p>
<p>The analysts noted a mixed outlook due to factors like US market exposure, high inventories, and China's lukewarm reopening. However, they find consensus forecasts reasonable and highlight Nike's relative growth momentum, inventory clearance progress, and brand strength. </p>
<p>The analysts also mentioned Nike's fiscal 2024 guidance, gross margin recovery potential, and EPS results, hinting at $4 as the investor expectation. RBC trimmed Nike's 2024 revenues/EPS by 4% and 5%, respectively.</p>
| NYSE:NKE | https://financialmodelingprep.com/market-news/fmp-rbc-capital-cuts-price-target-on-nike-ahead-of-q4-earnings- | Davit Kirakosyan | Financial Modeling Prep |
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AutoZone Earns an Upgrade at UBS | 2023-06-19 16:31:00 | <p>UBS analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/AZO'>AutoZone (NYSE:AZO)</a> stock from Neutral to Buy and raised their price target from $2,800 to $2,900, noting that the current valuation presents a compelling purchasing opportunity. The analysts argued that the market undervalues the company's commercial potential, with increased price competition fears and perceived dimming prospects having led to multiple compression. </p>
<p>The analysts suggested that as AutoZone proves its capability to manage these risks, a rally in its shares is likely. They forecasted a resurgence in the company's DIFM growth and a steady DIY growth against the unstable macroeconomic backdrop, ultimately prompting a return to a premium valuation multiple of 19x, implying approximately 30% upside potential to the current price.</p>
| NYSE:AZO | https://financialmodelingprep.com/market-news/fmp-autozone-earns-an-upgrade-at-ubs | Davit Kirakosyan | Financial Modeling Prep |
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NaaS Technology Reports Q1 Earnings, Provides Weak Outlook | 2023-06-19 16:29:00 | <p><a href='https://financialmodelingprep.com/financial-summary/NAAS'>NaaS Technology Inc. (NASDAQ:NAAS)</a> reported its Q1 earnings results on Friday, with EPS coming in at ($0.47) and revenue at $36.16 million.</p>
<p>In the first quarter of 2023, NaaS' network handled a gross transaction value of RMB990.5 million (US$144.2 million), marking a 107% surge compared to the same period the previous year. The number of orders processed through NaaS' platform also witnessed a significant rise, reaching 44.4 million - a jump of 110% year over year.</p>
<p>For Q2/23, the company expects revenue of $500 million, compared to the Street estimate of $600 million.</p>
| NASDAQ:NAAS | https://financialmodelingprep.com/market-news/fmp-naas-technology-reports-q1-earnings-provides-weak-outlook | Davit Kirakosyan | Financial Modeling Prep |
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Jabil Stock Surges 5% Following Q3 Beat | 2023-06-16 15:30:00 | <p><a href='https://financialmodelingprep.com/financial-summary/JBL'>Jabil (NYSE:JBL)</a> gained nearly 5% yesterday after the company reported its Q3 earnings results, with EPS of $1.99 coming in above the Street estimate of $1.88. Revenue was $8.5 billion, beating the Street estimate of $8.19 billion.</p>
<p>For the full Q4/23, management anticipates EPS to be in the range of $2.14-$2.50, compared to the Street estimate of $2.30, and revenue in the range of $8.2-$8.8 billion, compared to the Street estimate of $8.57 billion.</p>
<p>The Diversified Manufacturing Services (DMS) division of the company experienced a 13% increase in revenue compared to the previous year, whereas the Electronics Manufacturing Services (EMS) division saw a decline of 8% in revenue. Nonetheless, according to Kenny Wilson, the CEO of JBL, the company is in a favorable position and successfully navigating a constantly changing business environment.</p>
| NYSE:JBL | https://financialmodelingprep.com/market-news/fmp-jabil-stock-surges-5-following-q3-beat | Davit Kirakosyan | Financial Modeling Prep |
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Adobe Systems Shares Rose 2% After Q2 Beat | 2023-06-16 15:27:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ADBE'>Adobe Systems (NASDAQ:ADBE)</a> shares gained more than 2% intra-day today after the company reported its Q2 earnings results, with EPS of $3.91 coming in better than the Street estimate of $3.79. Revenue was $4.82 billion, beating the Street estimate of $4.77 billion.</p>
<p>For Q3/23, the company anticipates EPS in the range of $3.95-$4.00, compared to the Street estimate of $3.89, and revenue in the range of $4.83-$4.87 billion, compared to the Street estimate of $4.86 billion.</p>
<p>For the full year, management sees EPS at $15.65-$15.75, compared to the Street’s $15.50, and revenue at $19.25-$19.35 billion, compared to the Street’s $19.3 billion.</p>
<p>Following the announcement, Wells Fargo analysts increased their price target to $600 from $525, while reiterating their Overweight rating. According to the bank, the results are expected to sustain the positive trend as the company surpassed expectations in Q2, made an unusual upward revision to its targets for the fiscal year, and provided additional information regarding the anticipated monetization of artificial intelligence (AI).</p>
| NASDAQ:ADBE | https://financialmodelingprep.com/market-news/fmp-adobe-systems-shares-rose-2-after-q2-beat- | Davit Kirakosyan | Financial Modeling Prep |
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Virgin Galactic Stock Jumps 47% on Commercial Space Tourism Flight Announcement | 2023-06-16 15:24:00 | <p><a href='https://financialmodelingprep.com/financial-summary/SPCE'>Virgin Galactic Holdings Inc (NYSE:SPCE)</a> shares jumped more than 47% intra-day today after the announcement of its upcoming launch of a commercial space tourism service. </p>
<p>The company revealed that its first space flight, named "Galactic 01," is scheduled to take place between June 27 and June 30. This flight will include three crew members from the Italian Air Force and the National Research Council of Italy. </p>
<p>Additionally, the company plans to conduct a second flight in early August, followed by monthly flights in the future.</p>
| NYSE:SPCE | https://financialmodelingprep.com/market-news/fmp-virgin-galactic-stock-jumps-47-on-commercial-space-tourism-flight-announcement- | Davit Kirakosyan | Financial Modeling Prep |
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NVIDIA’s Price Target Raised to $500 at Morgan Stanley | 2023-06-16 09:19:00 | <p>Morgan Stanley analysts raised the price target on <a href='https://financialmodelingprep.com/financial-summary/NVDA'>NVIDIA (NASDAQ:NVDA)</a> to $500.00 from $450.00 while maintaining their Overweight rating.</p>
<p>The analysts emphasized the growing demand for AI training, which has shown a consistent increase since NVIDIA's last report. They cited reports from industry contacts indicating a surge in daily new orders from customers who were not previously considered major clients.</p>
<p>Recognizing NVIDIA's position as the first-to-market, analysts assert that the stock should trade at a premium compared to its peers due to a higher likelihood of upward revisions in the near term. They refer to NVIDIA as the sole "2023 leader."</p>
| NASDAQ:NVDA | https://financialmodelingprep.com/market-news/fmp-nvidia’s-price-target-raised-to-$500-at-morgan-stanley- | Davit Kirakosyan | Financial Modeling Prep |
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Lending Club Started With Buy Rating | 2023-06-16 09:13:00 | <p>Jefferies initiated coverage on <a href='https://financialmodelingprep.com/financial-summary/LC'>Lending Club (NYSE:LC)</a> with a Buy rating and a price target of $13.50, noting that the company is a pioneer in the Fintech sector with a strong track record, bank charter, and a technologically advanced lending platform. </p>
<p>The analysts anticipate an improvement in ROE by mid-2023, offering various catalysts for increased ROE and valuation. Additionally, the analysts highlighted competitive advantages related to the bank charter and a well-diversified growth strategy.</p>
| NYSE:LC | https://financialmodelingprep.com/market-news/fmp-lending-club-started-with-buy-rating- | Davit Kirakosyan | Financial Modeling Prep |
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Lennar Stock Surges 4% After Q1 Beat | 2023-06-15 13:11:00 | <p><a href='https://financialmodelingprep.com/financial-summary/LEN'>Lennar (NYSE:LEN)</a> shares gained nearly 4% intra-day today following the company’s impressive performance that surpassed expectations in terms of both Q1 revenue and earnings.</p>
<p>Lennar posted an EPS of $2.94, with total revenue coming in at $8 billion. Analysts had anticipated Lennar, a home builder, to generate a revenue of $7.2 billion and earnings per share of $2.31.</p>
<p>During the second quarter, Lennar successfully delivered 17,074 homes, surpassing their initial guidance, while new orders reached 17,885, also exceeding expectations.</p>
<p>According to Stuart Miller, the Executive Chairman of Lennar, the housing market has been gradually stabilizing and recovering from the rapid interest rate increases experienced last year. </p>
<p>Looking ahead, the company anticipates delivering between 17,750 and 18,250 homes in Q3. For the full 2023 year, the company expects to deliver 68,000 to 70,000 homes, which is an upward revision from the previous guidance of 62,000 to 66,000 homes.</p>
| NYSE:LEN | https://financialmodelingprep.com/market-news/fmp-lennar-stock-surges-4-after-q1-beat | Davit Kirakosyan | Financial Modeling Prep |
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Domino's Pizza Upgraded to Buy | 2023-06-15 13:08:00 | <p>Stifel upgraded <a href='https://financialmodelingprep.com/financial-summary/DPZ'>Domino's Pizza (NYSE:DPZ)</a> to Buy from Hold and increased the price target to $350 from $320. The analysts noted that Domino's Pizza has experienced a decline in delivery sales, reduced franchisee profitability, and slower unit growth, resulting in a reset of the company's long-term revenue expectations. </p>
<p>After examining the company's plans and engaging with management, the analyst believes that over the next 12 months, Domino's Pizza will stabilize delivery sales and achieve new record levels of carryout sales. This improvement in sales, along with lower commodity costs and increased labor productivity, is expected to enhance franchisee profitability and drive further unit growth.</p>
<p>While the analysts don’t anticipate the second-quarter results to demonstrate evidence of stabilizing delivery sales, they expect lower costs to provide some near-term earnings support. </p>
| NYSE:DPZ | https://financialmodelingprep.com/market-news/fmp-dominos-pizza-upgraded-to-buy- | Davit Kirakosyan | Financial Modeling Prep |
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Kohl's Upgraded to Outperform, New CEO’s Ideas Well Positioned to Work | 2023-06-15 13:00:00 | <p>TD Cowen analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/KSS'>Kohl's (NYSE:KSS)</a> to Outperform from Market Perform and set a new price target of $30.00, previously $23.00. The upgrade decision is based on early evidence, indicating that the new CEO, Tom Kingsbury, brings practical retail ideas that are well-suited for success after a prolonged period of insufficient change within the company. </p>
<p>Kingsbury, who officially took on the CEO role in early February and previously served as CEO of BURL from 2008 to 2019, has a strong background in merchandising and is leveraging his experience to drive positive transformations. </p>
<p>The analysts highlighted pragmatic adjustments being made to the stores, such as removing unused registers, introducing appealing gifting tables, and adopting a more modern markdown cadence. These changes are believed to be supported by the positive reception of new Sephora shop-in-shops, currently present in 605 stores, which are outperforming other areas of the business.</p>
| NYSE:KSS | https://financialmodelingprep.com/market-news/fmp-kohls-upgraded-to-outperform-new-ceo’s-ideas-well-positioned-to-work | Davit Kirakosyan | Financial Modeling Prep |
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Kimball Electronics Started at Overweight Rating | 2023-06-15 12:54:00 | <p>Cantor Fitzgerald started coverage on <a href='https://financialmodelingprep.com/financial-summary/KE'>Kimball Electronics (NASDAQ:KE)</a> with an Overweight rating and price target of $34.00. According to the analysts, the company's automotive sector is experiencing significant growth due to the increasing adoption of advanced steering and braking solutions. </p>
<p>The analysts believe that Kimball Electronics is well-positioned to benefit from this trend and considers it to be one of the most promising opportunities in the electronic manufacturing services (EMS) industry. They also highlighted the company's strong presence in automotive steering and braking, particularly with renowned Tier 1 automotive original equipment manufacturers (OEMs). </p>
<p>Furthermore, the analysts expect the automotive business to generate gross margins above the corporate average, indicating the potential for increased profitability. Looking ahead, the analysts predict that braking could account for approximately half of Kimball's automotive revenue in the next 5 to 7 years, translating into an additional opportunity worth over $500 million.</p>
| NASDAQ:KE | https://financialmodelingprep.com/market-news/fmp-kimball-electronics-started-at-overweight-rating- | Davit Kirakosyan | Financial Modeling Prep |
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Sonos Announces Plans to Cut Workforce by 7% | 2023-06-15 09:08:00 | <p><a href='https://financialmodelingprep.com/financial-summary/SONO'>Sonos (NASDAQ:SONO)</a> intends to reduce its workforce by approximately 7%, as revealed in a filing with the U.S. Securities and Exchange Commission. The company also plans to downsize its real estate and review its expenditure.</p>
<p>Sonos stated that these actions are part of its commitment to optimizing costs while continuing to invest in its product roadmap for future growth.</p>
<p>The company anticipates incurring restructuring and related charges amounting to around $11 to $14 million, with $9 to $11 million designated for employee severance and benefits costs.</p>
<p>Last month, Sonos announced its Q2 results and revised its full-year guidance to a range of $1.625 billion to $1.675 billion, down from $1.7 billion to $1.8 billion in fiscal 2022. This adjustment reflects a decline of 7% to 4% and is attributed to weakened consumer demand and tightening inventory among channel partners.</p>
| NASDAQ:SONO | https://financialmodelingprep.com/market-news/fmp-sonos-announces-plans-to-cut-workforce-by-7- | Davit Kirakosyan | Financial Modeling Prep |
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Chipotle Mexican Grill Well Positioned for Sales Growth | 2023-06-15 09:05:00 | <p>UBS maintained its Buy rating and $2,250 price target on <a href='https://financialmodelingprep.com/financial-summary/CMG'>Chipotle Mexican Grill (NYSE:CMG)</a>, citing positive findings from a recent UBS survey of approximately 2,000 consumers. </p>
<p>The analysts believe that the company's competitive advantages and strategic priorities are resonating with customers, leading to increased visit intent and supporting transaction and sales growth. </p>
<p>Despite challenging market conditions, analysts expect the company to continue to outperform, driven by solid value perceptions, attractive price points, and various strategies to enhance resilience. </p>
<p>Throughput improvement is identified as the primary driver of incremental traffic and sales growth. The analysts remain optimistic about the stock, citing strong same-store sales, expanding unit development, and a projected 25% three-year EPS compound annual growth rate.</p>
| NYSE:CMG | https://financialmodelingprep.com/market-news/fmp-chipotle-mexican-grill-well-positioned-for-sales-growth- | Davit Kirakosyan | Financial Modeling Prep |
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Advanced Micro Devices Stock Gains Following AI Chip Announcement | 2023-06-14 12:35:00 | <p>Shares of <a href='https://financialmodelingprep.com/financial-summary/AMD'>Advanced Micro Devices (NASDAQ:AMD)</a> rose nearly 2% intra-day today after the semiconductor maker provided details about its new artificial intelligence chip called the MI300X.</p>
<p>The MI300X chip is designed to accelerate processing times for generative AI programs like ChatGPT and similar chatbots. In an interview, AMD CEO Lisa Su explained that the technology will assist companies in managing service costs similar to ChatGPT.</p>
<p>During an event in San Francisco, AMD announced that the chip will be initially released in limited quantities in Q3, followed by mass production in the last three months of 2023.</p>
<p>AMD did not disclose specific customers, the cost, or the impact on sales for the MI300X or its smaller version.</p>
| NASDAQ:AMD | https://financialmodelingprep.com/market-news/fmp-advanced-micro-devices-stock-gains-following-ai-chip-announcement- | Davit Kirakosyan | Financial Modeling Prep |
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SoFi Technologies Initiated With Buy Rating at BTIG | 2023-06-14 11:52:00 | <p>BTIG started coverage on <a href='https://financialmodelingprep.com/financial-summary/SOFI'>SoFi Technologies (NASDAQ:SOFI)</a> with a Buy rating, setting a price target of $14.00 on the shares.</p>
<p>According to the firm, SoFi went public as a SPAC in 2021 and has established itself as a leader in the consumer-focused fintech sector. However, the share price performance does not reflect its leadership position. </p>
<p>SoFi's platform offers a diverse range of products and a user-friendly digital interface, leading to significant user growth and adoption of new products. </p>
<p>The firm expects SoFi to benefit from the successful implementation of the banking charter, resulting in ongoing deposit inflows, margin expansion, member growth, and strong adoption of financial services products. They believe that despite the current low valuation, SoFi's shares have the potential for growth, with projected GAAP profitability by the end of 2023, and additional upside from the end of the student loan payment moratorium.</p>
| NASDAQ:SOFI | https://financialmodelingprep.com/market-news/fmp-sofi-technologies-initiated-with-buy-rating-at-btig | Davit Kirakosyan | Financial Modeling Prep |
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Citi Expresses Optimism on Li Auto Shares | 2023-06-14 11:49:00 | <p>Citi initiated a "30-day positive catalyst watch” on <a href='https://financialmodelingprep.com/financial-summary/LI'>Li Auto (NASDAQ:LI)</a> while maintaining a Buy rating and a $54.30 price target on the shares. </p>
<p>The bank is optimistic about LI's recent strong shipment and potential sector recovery into July 2023. It highlighted four key potentially positive catalysts to watch over the next 30 days: positive insurance numbers, signs of broader sector recovery, improvements in margins and cash flow, and new product launches. </p>
<p>Citi expects further shipment acceleration, continued sector growth, increased margins and cash flow, and the introduction of both BEV and EREV versions of MPVs by Li Auto.</p>
| NASDAQ:LI | https://financialmodelingprep.com/market-news/fmp-citi-expresses-optimism-on-li-auto-shares | Davit Kirakosyan | Financial Modeling Prep |
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Analysts React to Home Depot’s 2023 Investor Conference | 2023-06-14 11:46:00 | <p><a href='https://financialmodelingprep.com/financial-summary/HD'>Home Depot (NYSE:HD)</a> reaffirmed its fiscal 2023 guidance and provided an updated market stability base case outlook during its 2023 Investor and Analyst Conference yesterday. The company expects a decline in sales and comparable sales between 2% and 5% compared to fiscal 2022, with a projected decrease in diluted EPS between 7% and 13% year-over-year.</p>
<p>According to Wolfe Research, the home improvement industry is experiencing a period of moderation. However, Home Depot anticipates continued market share gains, especially in the complex pro-project category. The firm maintained its Outperform rating and a $327 price target on the stock, stating that the company's wide range of products and improving service levels should contribute to long-term pro-share gains.</p>
<p>Bernstein reaffirmed its Market Perform rating and a $314 price target on Home Depot shares. The firm mentioned that Home Depot provided limited new information for 2023, presented a new base case outlook for when the housing market stabilizes, and emphasized its focus on the planned purchase of Pro occasion.</p>
| NYSE:HD | https://financialmodelingprep.com/market-news/fmp-analysts-react-to-home-depot’s-2023-investor-conference | Davit Kirakosyan | Financial Modeling Prep |
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Apple Downgraded to Neutral at UBS | 2023-06-14 08:20:00 | <p>UBS analysts downgraded <a href='https://financialmodelingprep.com/financial-summary/AAPL'>Apple (NASDAQ:AAPL)</a> to Neutral from Buy, while increasing their price target on the shares to $190 from $180, noting they believe that the company's growth prospects are being weighed down by demand pressure in its key markets.</p>
<p>The analysts highlighted negative demand trends in Apple's core territories. Sell-through in the US, China, and Europe experienced a decline of 7.5% in the March quarter, while the rest of the world saw a decrease of 2.4%. </p>
<p>The analysts also referred to the UBS Evidence Lab 2Q23 Smartphones Survey, which reveals that 12-month iPhone forward purchase intent is flat to slightly down versus six months ago. Specifically, purchase intent for the next 12 months declined by 200 basis points in the UK, 100 basis points in China, and 100 basis points in Japan.</p>
| NASDAQ:AAPL | https://financialmodelingprep.com/market-news/fmp-apple-downgraded-to-neutral-at-ubs | Davit Kirakosyan | Financial Modeling Prep |
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Shake Shack’s Price Target Raised at BTIG | 2023-06-14 08:16:00 | <p>BTIG analysts increased their price target on <a href='https://financialmodelingprep.com/financial-summary/SHAK'>Shake Shack (NYSE:SHAK)</a> to $85.00 from $75.00 while maintaining a Buy rating.</p>
<p>The analysts anticipate that Shake Shack's implementation of kiosks, a proven technology that drives sales, in its domestic restaurants will contribute to mid-single-digit growth in same-store sales. Furthermore, as the adoption of these kiosks increases, there is potential for significant labor savings, possibly amounting to several hundred basis points. The utilization of this technology is expected to enhance throughput, particularly in high-volume locations, leading to improved order accuracy and customer satisfaction.</p>
| NYSE:SHAK | https://financialmodelingprep.com/market-news/fmp-shake-shack’s-price-target-raised-at-btig | Davit Kirakosyan | Financial Modeling Prep |
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Urban Outfitters Upgraded at Morgan Stanley, Shares Surge 3% | 2023-06-13 11:23:00 | <p>Morgan Stanley analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/URBN'>Urban Outfitters (NASDAQ:URBN)</a> to Overweight from Equalweight, setting a new price target of $41.00 (previously $27.00). As a result, shares gained more than 3% intra-day today.</p>
<p>The upgrade was supported by the company’s favorable prospects compared to industry peers and its undervalued position. Firstly, the analyst noted that the estimates for 2023 exhibit a significant degree of conservatism, leaving ample room for positive earnings per share revisions. Secondly, the stock carries a low relative valuation, which presents the possibility of a re-rating. Notably, the company ranks fourth among Morgan Stanley’s coverage in terms of forecast risk analysis for 2023, with consensus estimates for EBIT concentration and EBIT margin falling well below historical trends.</p>
| NASDAQ:URBN | https://financialmodelingprep.com/market-news/fmp-urban-outfitters-upgraded-at-morgan-stanley-shares-surge-3 | Davit Kirakosyan | Financial Modeling Prep |
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Netflix’s Price Target Increased to $500 at Guggenheim | 2023-06-13 11:21:00 | <p>Guggenheim analysts increased <a href='https://financialmodelingprep.com/financial-summary/NFLX'>Netflix's (NASDAQ:NFLX)</a> price target to $500.00 from $375.00 while reiterating their Buy rating. </p>
<p>The analysts stated that despite a year-to-date outperformance of 44% compared to the NASDAQ 100's 35%, they see significant untapped potential in Netflix shares for the next 12 months. </p>
<p>The analysts emphasized Netflix's dominant position as the global leader in high-quality, long-form streaming video, which is expected to drive financial growth through higher subscription average revenue per user (ARPU), increased advertising revenue, and margin expansion. </p>
<p>Furthermore, an analysis of Apptopia download data supports the conclusion that the recently expanded paid-sharing initiative has not led to a sustained increase in member churn, aligning with broader feedback.</p>
| NASDAQ:NFLX | https://financialmodelingprep.com/market-news/fmp-netflix’s-price-target-increased-to-$500-at-guggenheim- | Davit Kirakosyan | Financial Modeling Prep |
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Illumina Stock Gains 3% After CEO Resigns | 2023-06-13 11:19:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ILMN'>Illumina Inc (NASDAQ:ILMN)</a> shares rose more than 3% yesterday as CEO Francis deSouza resigned. Illumina's board accepted the resignation and named Charles Dadswell as interim CEO while they search for a successor. </p>
<p>The departure is seen as a win for activist investor Carl Icahn, who opposed Illumina's acquisition of Grail in 2021, claiming it cost investors billions. Illumina's stock has dropped 60% since the Grail acquisition. Icahn expressed satisfaction with the leadership change but felt it should have happened earlier.</p>
| NASDAQ:ILMN | https://financialmodelingprep.com/market-news/fmp-illumina-stock-gains-3-after-ceo-resigns | Davit Kirakosyan | Financial Modeling Prep |
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BofA Securities Raises Palantir Price Target on Rising AI Opportunity | 2023-06-13 11:11:00 | <p>BofA Securities analysts raised their price target on <a href='https://financialmodelingprep.com/financial-summary/PLTR'>Palantir Technologies Inc. (NYSE:PLTR)</a> to $18 from $13, while reiterating their Buy rating, noting that the company has a "unique position" to take advantage of the "rising AI opportunity".</p>
<p>The analysts assert that companies eager to utilize generative AI face similar major requirements related to compliance, regulations, ethics, laws, privacy rights, data security, and oversight. Palantir's advantage lies in its experience with the government and regulated industries, having already developed a compliant and private architectural design for generative AI. </p>
<p>According to the analysts, existing Palantir clients suggest that the company is five years ahead of its closest competitor and implementing AIP solutions could enhance its customer penetration and partnership prospects.</p>
| NYSE:PLTR | https://financialmodelingprep.com/market-news/fmp-bofa-securities-raises-palantir-price-target-on-rising-ai-opportunity | Davit Kirakosyan | Financial Modeling Prep |
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Oracle Surges on Q4 Beat, Analysts Upgrade the Stock | 2023-06-13 08:28:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ORCL'>Oracle (NYSE:ORCL)</a> shares surged more than 5% pre-market today after the company reported its Q4 earnings results, with EPS of $1.67 coming in better than the Street estimate of $1.58. Revenue was $13.8 billion, beating the Street estimate of $13.74 billion.</p>
<p>Following the results, Wolfe Research upgraded the company to Outperform from Peer Perform with a $130 price target based on accelerating revenue and EPS growth due to the OCI adoption and AI tailwinds.</p>
<p>Another Wall Street firm, Goldman Sachs upgraded the stock to Neutral from Sell with a price target of $120.00.</p>
| NYSE:ORCL | https://financialmodelingprep.com/market-news/fmp-oracle-surges-on-q4-beat-analysts-upgrade-the-stock | Davit Kirakosyan | Financial Modeling Prep |
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Roblox Started With Buy Rating at Canaccord | 2023-06-13 08:21:00 | <p>Canaccord Genuity analysts initiated coverage on <a href='https://financialmodelingprep.com/financial-summary/RBLX'>Roblox (NYSE:RBLX)</a> with a Buy rating and a $48.00 price target, noting the company's transformation into a leading platform for immersive gaming and social interactions. </p>
<p>The analysts highlighted the company's ongoing investments in realistic avatars and communication features, attracting skilled users and prominent brands. </p>
<p>The analysts see the potential for advertising to drive growth, and despite volatility in shares since going public in early 2021, believe strategic initiatives and the metaverse can further boost the company's success.</p>
| NYSE:RBLX | https://financialmodelingprep.com/market-news/fmp-roblox-started-with-buy-rating-at-canaccord- | Davit Kirakosyan | Financial Modeling Prep |
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Catalent Stock Jumps 10% Following Q3 Earnings | 2023-06-12 15:11:00 | <p><a href='https://financialmodelingprep.com/financial-summary/CTLT'>Catalent (NYSE:CTLT)</a> shares surged more than 10% intra-day today after the company reported its Q3 earnings results, with revenue of $1.04 billion coming in better than the Street estimate of $952.66 million. EPS was ($0.09), compared to the Street estimate of ($0.04).</p>
<p>The company provided its fiscal 2023 outlook, expecting revenue to be in the range of $4.225-$4.325 billion, compared to the Street estimate of $4.28 billion.</p>
<p>CEO Alessandro Maselli stated that they are making advancements in resolving their earlier operational challenges. Simultaneously, they are concluding their investments in lucrative sectors experiencing high demand and growth. They are also implementing a comprehensive cost-reduction strategy across the entire company. Maselli emphasized that the fundamentals of the business remain strong, with consistent customer demand for their global services.</p>
| NYSE:CTLT | https://financialmodelingprep.com/market-news/fmp-catalent-stock-jumps-10-following-q3-earnings- | Davit Kirakosyan | Financial Modeling Prep |
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Carvana’s Optimistic Outlook May be Temporary Positive | 2023-06-12 15:09:00 | <p>Citi raised its price target on <a href='https://financialmodelingprep.com/financial-summary/CVNA'>Carvana Co. (NYSE:CVNA)</a> to $25.00 from $11.00 with a Neutral rating. Carvana's recently revised profitability outlook for Q2/23, driven by faster selling/securitizing of receivables, led to an expected adjusted EBITDA of $50 million. </p>
<p>The analysts believe that the company's optimistic forecast, which led to significant share price gains, may be a temporary positive. Carvana stated that they had sold or securitized loans totaling around $2 billion in the current quarter, which exceeded the $1.3 billion amount recorded on May 4th, 2023. The company credited its robust performance in the first quarter of 2023 to its ongoing focus on improving operational efficiencies.</p>
| NYSE:CVNA | https://financialmodelingprep.com/market-news/fmp-carvana’s-optimistic-outlook-may-be-temporary-positive | Davit Kirakosyan | Financial Modeling Prep |
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Tesla Earns an Upgrade at KGI Securities | 2023-06-12 15:07:00 | <p>KGI Securities upgraded <a href='https://financialmodelingprep.com/financial-summary/TSLA'>Tesla (NASDAQ:TSLA)</a> to Outperform from Neutral, setting a price target of $335.00. The analysts praised Tesla's strong AI capabilities, especially their FSD Beta, which is showing significant improvement. </p>
<p>Elon Musk, CEO of Tesla, mentioned in a recent CNBC interview that Tesla's full self-driving (FSD) system will soon have a significant breakthrough similar to OpenAI's ChatGPT moment.</p>
<p>With a growing test fleet of over 400,000 vehicles, Tesla is surpassing competitors in self-driving capabilities. As Tesla's self-driving capabilities mature, the adoption rate of its FSD system is expected to increase, leading to higher revenue and margins in the medium to long term. Musk envisions an automotive business peak margin of 80% once fully autonomous self-driving is factored in.</p>
| NASDAQ:TSLA | https://financialmodelingprep.com/market-news/fmp-tesla-earns-an-upgrade-at-kgi-securities- | Davit Kirakosyan | Financial Modeling Prep |
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The Trade Desk Price Target Raised on Long Term Runway for Growth | 2023-06-12 15:04:00 | <p>Citi analysts raised <a href='https://financialmodelingprep.com/financial-summary/TTD'>The Trade Desk (NASDAQ:TTD)</a> price target to $86.00 from $78.00 and maintained their Buy rating. The analysts believe that Trade Desk's recent Kokai launch showcases a product that will strengthen the platform. With its leading DSP scale, especially in CTV, Trade Desk has a notable advantage, and its exceptional product is expected to widen the gap between itself and competitors as it incorporates more Artificial Intelligence capabilities. </p>
<p>These AI capabilities are anticipated to be utilized more efficiently across different components of the platform, leading to the development of new products centered around AI, data, measurement, inventory optimization, and partner integrations. This expansion is expected to extend the use case for Trade Desk beyond larger-scale agencies and advertisers to smaller ones, and eventually, SMBs. </p>
<p>This shift is crucial since Trade Desk currently heavily relies on the largest ad agencies and advertisers, while smaller advertisers play a significant role in digital advertising, particularly on the closed web. Although TTD multiples are considered expensive, Citi sees a long-term runway for growth driven by product differentiation and a growing moat.</p>
| NASDAQ:TTD | https://financialmodelingprep.com/market-news/fmp-the-trade-desk-price-target-raised-on-long-term-runway-for-growth | Davit Kirakosyan | Financial Modeling Prep |
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Netflix stock gains on WSJ report of subscriber boost | 2023-06-12 09:01:00 | <p>Shares of <a href='https://financialmodelingprep.com/financial-summary/NFLX'>Netflix (NASDAQ:NFLX)</a> experienced more than 2% gain on Friday, further boosting its recent progress, following a report from The Wall Street Journal. The report stated that the company's new stance on password sharing in the US has led to a considerable increase in subscribers.</p>
<p>Based on data from Antenna, Netflix saw an unparalleled four-day surge in new US subscriptions right after it introduced password-sharing restrictions in the US and other markets. The recent rise in subscriber numbers points to the success of Netflix's anti-password-sharing strategy.</p>
<p>As part of the new policy, users sharing an account beyond the same household will have to pay an additional $7.99 monthly. The extent of additional members a customer can add to their account is also now restricted, based on their subscription tier.</p>
| NASDAQ:NFLX | https://financialmodelingprep.com/market-news/fmp-netflix-stock-gains-on-wsj-report-of-subscriber-boost | Davit Kirakosyan | Financial Modeling Prep |
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Micron’s Upcoming Q3 Earnings Preview | 2023-06-12 08:58:00 | <p>Deutsche Bank analysts raised their price target on <a href='https://financialmodelingprep.com/financial-summary/MU'>Micron Technology (NASDAQ:MU)</a> to $65 from $55 while maintaining their Hold rating, ahead of the company’s upcoming Q3 earnings on June 29.</p>
<p>The analysts acknowledged the company’s near-term risks but anticipate a stronger recovery in the second half of 2023. They emphasized the evolving supply-demand dynamics in the memory industry, highlighting Samsung's reduced production and the surge in memory demand linked to AI. Despite no current pricing inflection, the analysts believe the market is positively trending.</p>
<p>However, the analysts also pointed to the macro uncertainty of worsening end demand, specifically in servers, and the need for clarity on strategic buys' (mainly in IT Hardware) impact on future demand trends.</p>
| NASDAQ:MU | https://financialmodelingprep.com/market-news/fmp-micron’s-upcoming-q3-earnings-preview- | Davit Kirakosyan | Financial Modeling Prep |
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Braze Jumps 20% on Q1 Beat & Raised Guidance | 2023-06-09 15:40:00 | <p>Shares of <a href='https://financialmodelingprep.com/financial-summary/BRZE'>Braze (NASDAQ:BRZE)</a> soared more than 20% intra-day today after the company posted its Q1 earnings results, with EPS coming in at ($0.13), better than the Street estimate of ($0.18). Revenue of $101.8 million beat the Street estimate of $98.99 million.</p>
<p>Despite facing a tough operational landscape, management has effectively delivered impressive results. They surpassed Street figures for total revenue, subscription revenue, and operating margin. Also, the company set a new record by generating nearly $22 million in free cash flow in the first fiscal quarter.</p>
<p>For Q2/24, the company expects EPS in the range of ($0.13)-($0.14), compared to the Street estimate of ($0.16), and revenue in the range of $108-$109 million, compared to the Street estimate of $107.18 million.</p>
<p>Management expects full-year EPS to be in the range of ($0.51)-($0.55), compared to the Street estimate of ($0.55), and revenue in the range of $442.5-$446.5 million, compared to the Street estimate of $436.43 million.</p>
| NASDAQ:BRZE | https://financialmodelingprep.com/market-news/fmp-braze-jumps-20-on-q1-beat-&-raised-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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The Duckhorn Portfolio Reports Q3 Beat, Provides Strong Guidance | 2023-06-09 15:38:00 | <p><a href='https://financialmodelingprep.com/financial-summary/NAPA'>The Duckhorn Portfolio (NYSE:NAPA)</a> posted its Q3 earnings results yesterday, with revenue of $91.2 million coming in above the Street estimate of $89.79 million. EPS was $0.16, better than the Street estimate of $0.12. </p>
<p>While slowing on-premise sales may be a short-term headwind, management seems to be very confident in its position, heading into a tough economic environment, as a luxury player with scale.</p>
<p>Management sees Q4/23 EPS to be in the range of $0.64-$0.66, compared to the Street estimate of $0.64, and revenue in the range of $400-$404 million, compared to the Street estimate of $402.56 million.</p>
| NYSE:NAPA | https://financialmodelingprep.com/market-news/fmp-the-duckhorn-portfolio-reports-q3-beat-provides-strong-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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Planet Labs Stock Plummets 26% on Weaker Than Expected Guidance | 2023-06-09 15:33:00 | <p>Shares of <a href='https://financialmodelingprep.com/financial-summary/PL'>Planet Labs (NYSE:PL)</a> shares plunged more than 26% intra-day today after the company’s reported Q1 earnings results.</p>
<p>Although Q1 EPS of ($0.13) exceeded the consensus estimate of ($0.15), and the revenue of $52.7 million (a 31% increase compared to the previous year) was approximately in line with the anticipated $52.92 million, investors were disappointed by the outlook provided by management.</p>
<p>During the first quarter, the percentage of recurring annual contract value (ACV) stood at 93%, and the customer count at the end of the period grew by 9% to reach 903 customers compared to the previous year.</p>
<p>Looking ahead to Q2/24, Planet Labs anticipates revenue ranging from $53 million to $55 million, which falls short of the Street estimate of $60.7 million. For the full year, the company's revenue outlook is within the range of $225 million to $235 million, which is below the Street estimate of $257 million. </p>
| NYSE:PL | https://financialmodelingprep.com/market-news/fmp-planet-labs-stock-plummets-26-on-weaker-than-expected-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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NIO Reports Q1 Revenue Miss | 2023-06-09 15:30:00 | <p><a href='https://financialmodelingprep.com/financial-summary/NIO'>NIO Inc. (NYSE:NIO)</a> reported its Q1 earnings today, with a loss of RMB2.51 ($0.36) per share, surpassing the Street estimate of an RMB2.63 loss per share. However, the revenue for the quarter amounted to RMB10.68 billion, which was lower than the Street estimate of RMB11.93 billion.</p>
<p>During the quarter, NIO delivered a total of 31,041 vehicles. Nonetheless, vehicle sales of RMB9,224.5 million showed a slight decrease of 0.2% compared to Q1/22 and a substantial decline of 37.5% from the fourth quarter of the same year.</p>
<p>Looking ahead, the company anticipates delivering between 23,000 and 25,000 vehicles in Q2. Revenues are seen in the range of RMB8,742 - RMB9,370 million.</p>
| NYSE:NIO | https://financialmodelingprep.com/market-news/fmp-nio-reports-q1-revenue-miss | Davit Kirakosyan | Financial Modeling Prep |
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DocuSign Shares Jump 7% on Q1 Beat | 2023-06-09 08:34:00 | <p><a href='https://financialmodelingprep.com/financial-summary/DOCU'>DocuSign (NASDAQ:DOCU)</a> shares surged more than 7% pre-market today after the company reported its Q1 earnings results, with EPS of $0.72 coming in better than the Street estimate of $0.55. Revenue was $661.4 million, beating the Street estimate of $641.69 million.</p>
<p>Billings showed a nice upside, though guidance did not pass through the entire beat, suggesting pull-forward, worsening macro, or more conservatism. On macro, management noted that conditions were roughly the same, with SMB demand slightly better but enterprise slightly worse.</p>
<p>For Q2/24, the company expects revenue to be in the range of $675-$679 million, compared to the Street estimate of $670.4 million. For the full year, the company sees revenue at $2.713-$2.725 billion, compared to the Street estimate of $2.7 billion.</p>
| NASDAQ:DOCU | https://financialmodelingprep.com/market-news/fmp-docusign-shares-jump-7-on-q1-beat | Davit Kirakosyan | Financial Modeling Prep |
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TD SYNNEX’s Upcoming Q2 Earnings Preview | 2023-06-09 08:32:00 | <p>RBC Capital analysts provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/SNX'>TD SYNNEX (NYSE:SNX)</a> ahead of the company’s upcoming Q2 earnings report next month.</p>
<p>The analysts expect largely in-line Q2/23 results as cautious IT spending trends continue. They see solid Advanced Solutions dynamics continuing in the near term as management focuses on pivoting to areas of higher growth in advanced solutions and high-growth technologies (e.g., cybersecurity/analytics/cloud/IoT/digital transformation). </p>
<p>The analysts continue to expect the overall backlog for Advanced Solutions (approximately 35-40% of revenue) to further stabilize in the second half of the year while the spending outlook for PCs remains challenged in the near term but benefits from easier comps in the second half of the year. The analysts reiterated their Sector Perform rating and $110 price target on the stock.</p>
| NYSE:SNX | https://financialmodelingprep.com/market-news/fmp-td-synnex’s-upcoming-q2-earnings-preview | Davit Kirakosyan | Financial Modeling Prep |
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Carvana Shares Surge 26% on Revised Guidance | 2023-06-08 12:03:00 | <p><a href='https://financialmodelingprep.com/financial-summary/CVNA'>Carvana (NYSE:CVNA)</a> shares jumped more than 26% intra-day today following the announcement of improved Q2 guidance. The company revealed that it anticipates achieving adjusted EBITDA above $50 million for the quarter, along with non-GAAP total gross profit per unit surpassing $6,000. This represents a new company record and a remarkable improvement of over 63% compared to the second quarter of the previous year.</p>
<p>Carvana also reported that loans sold or securitized quarter-to-date amounted to approximately $2 billion, surpassing the $1.3 billion figure as of May 4th, 2023. The company attributed its strong performance in Q1/23 to a continued emphasis on operational efficiencies.</p>
| NYSE:CVNA | https://financialmodelingprep.com/market-news/fmp-carvana-shares-surge-26-on-revised-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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Signet Jewelers Shares Plunge 10% on Lowered Outlook | 2023-06-08 11:56:00 | <p><a href='https://financialmodelingprep.com/financial-summary/SIG'>Signet Jewelers (NYSE:SIG)</a> shares dropped more than 10% intra-day today after the company cut its guidance for the full-year profit and revenues.</p>
<p>The company reported Q1 adjusted EPS of $1.78 and revenue of $1.67 billion, compared to the Street estimates of $1.44 and $1.71 billion, respectively. Same-store sales fell 13.9% year-over-year.</p>
<p>For Q2, management expects revenue in the range of $1.53-1.58 billion, below the Street's estimate the $1.75 billion, For the full year, the company sees EPS at $9.79 and revenue at $7.2 billion from the prior estimates of $11.33 and $7.755 billion, respectively. Street estimates stand at $11.11 for EPS and $7.73 billion for revenues.</p>
| NYSE:SIG | https://financialmodelingprep.com/market-news/fmp-signet-jewelers-shares-plunge-10-on-lowered-outlook | Davit Kirakosyan | Financial Modeling Prep |
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Smartsheet Stock Drops 20% After Q1 Earnings | 2023-06-08 11:53:00 | <p><a href='https://financialmodelingprep.com/financial-summary/SMAR'>Smartsheet (NYSE:SMAR)</a> shares plummeted more than 20% intra-day today after the company reported its Q1 earnings results, highlighted by weaker-than-expected billings. EPS of $0.18 was better than the Street estimate of $0.08. Revenue came in at $219.9 million, beating the Street estimate of $214.1 million. </p>
<p>Billings growth decelerated eight points for the third consecutive quarter to 20% year-over-year (and missed consensus for the first time since going public) and Q2 guidance assumes this trend continues to 12% growth.</p>
<p>For Q2/24, management anticipates EPS to be in the range of $0.07-$0.08, compared to the Street estimate of $0.07, and revenue in the range of $228-$231 million, compared to the Street estimate of $230.4 million.</p>
<p>Full-year EPS is expected in the range of $0.37-$0.44, compared to the Street’s $0.35, and revenue in the range of $943-$948 million, compared to the Street’s $946 million.</p>
| NYSE:SMAR | https://financialmodelingprep.com/market-news/fmp-smartsheet-stock-drops-20-after-q1-earnings | Davit Kirakosyan | Financial Modeling Prep |
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Brown-Forman Reports Surprise Q4 Revenues | 2023-06-08 11:51:00 | <p><a href='https://financialmodelingprep.com/financial-summary/BF-B'>Brown-Forman (NYSE:BF-B)</a> reported an unexpected rise in Q4 revenue yesterday despite inflationary pressures. Net sales grew by 5% to $1.05 billion, surpassing Street expectations. Annual net sales increased by 8% to $4.23 billion, driven by strong consumer demand for premium products. Post-pandemic restrictions easing and travel retail sales surging by 41% contributed to the company's success.</p>
<p>The company reported organic sales growth of 4% well ahead of the Street estimate of a 0.7% decline with the year-to-date organic sales up 3% in the US, Developed International up 10%, Emerging Markets up 24% and Travel Retail up 43%. YTD results imply slower US growth as expected, with Emerging Markets and Developed international markets driving growth.</p>
| NYSE:BF-B | https://financialmodelingprep.com/market-news/fmp-brown-forman-reports-surprise-q4-revenues | Davit Kirakosyan | Financial Modeling Prep |
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Campbell Soup Shares Plunge 9% Following Q3 Earnings | 2023-06-08 08:15:00 | <p><a href='https://financialmodelingprep.com/financial-summary/CPB'>Campbell Soup (NYSE:CPB)</a> reported its Q3 earnings results, with EPS of $0.68 coming in better than the Street estimate of $0.65. Revenue was $2.23 billion, compared to the Street estimate of $2.24 billion. </p>
<p>The company reaffirmed its full 2023-year guidance, expecting EPS in the range of $2.95-$3.00, compared to the Street estimate of $3.02.</p>
<p>Shares fell nearly 9% yesterday. The stock was met with a cold reception from investors, as most packaged food names have been beating and raising guidance over the last few weeks.</p>
| NYSE:CPB | https://financialmodelingprep.com/market-news/fmp-campbell-soup-shares-plunge-9-following-q3-earnings | Davit Kirakosyan | Financial Modeling Prep |
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Adobe’s Upcoming Q2 Earnings Preview | 2023-06-08 08:11:00 | <p>RBC Capital analysts shared their outlook on <a href='https://financialmodelingprep.com/financial-summary/ADBE'>Adobe Inc. (NASDAQ:ADBE)</a> ahead of the Q2/23 earnings announcement, scheduled on June 15, expecting the company to deliver positive results, continuing the momentum seen at the start of the year. </p>
<p>Particularly, the analysts expect upside from digital media, while the experience cloud is worth monitoring given mixed enterprise results from peers which Adobe has to this point stayed resilient to. </p>
<p>According to the analysts, investor focus remains on two themes, generative AI and the pending close of Figma. The analysts raised their price target to $460 from $415 while reiterating their Outperform rating.</p>
| NASDAQ:ADBE | https://financialmodelingprep.com/market-news/fmp-adobe’s-upcoming-q2-earnings-preview | Davit Kirakosyan | Financial Modeling Prep |
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Casey's General Stores Shares Drop 5% After Q4 Miss | 2023-06-07 15:07:00 | <p><a href='https://financialmodelingprep.com/financial-summary/CASY'>Casey's General Stores (NASDAQ:CASY)</a> shares fell around 5% today after the company reported its Q4 results, with EPS coming in at $1.49, missing the Street estimate of $1.56. Revenue was $3.33 billion, below the Street estimate of $3.38 billion.</p>
<p>Although Q4 adjusted EBITDA of $167 million was below expectations, contributions from the two key inside store categories (Grocery and Prep Food) were close to forecast, two-thirds of the gap to forecast was gas margins, which are highly volatile, the balance was "Other" category.</p>
<p>For the full 2024 year, the company expects inside same-store sales to grow in the range of 3%- 5% and inside margin to improve in the range of 40%-41%. </p>
| NASDAQ:CASY | https://financialmodelingprep.com/market-news/fmp-caseys-general-stores-shares-drop-5-after-q4-miss | Davit Kirakosyan | Financial Modeling Prep |
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NICE’s 2023 Investor Day Review | 2023-06-07 15:01:00 | <p>Oppenheimer analysts provided their key takeaways from <a href='https://financialmodelingprep.com/financial-summary/NICE'>NICE Ltd. (NASDAQ:NICE)</a> 2023 Investor Day, which articulated a clear strategy to deliver continued profitable growth as the Cloud, Digital, and AI megatrends converge. </p>
<p>Since 2014, the company's TAM (Total Addressable Market) has grown at a 10% CAGR to $8 billion. However, it expects this to accelerate to a 22% CAGR for $22 billion in 2027, as (1) Cloud adoption reaches the steepest part of the s-curve, (2) enterprises demand holistic customer service platforms, and most importantly, (3) AI technology replaces human labor. </p>
<p>Despite investor jitters, Oppenheimer analysts believe the company is shaping up as one of the best AI pure plays, with its 20-plus years of labeled customer data, proprietary transformer models, and now ChatGPT. The analysts reiterated their Outperform rating and $279 price target on the stock.</p>
| NASDAQ:NICE | https://financialmodelingprep.com/market-news/fmp-nice’s-2023-investor-day-review- | Davit Kirakosyan | Financial Modeling Prep |
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Amazon’s Price Target Raised on Rapid AWS Growth | 2023-06-07 14:59:00 | <p>Piper Sandler raised the price target for <a href='https://financialmodelingprep.com/financial-summary/AMZN'>Amazon (NASDAQ:AMZN)</a> to $150 per share, up from the previous $130, citing a positive outlook for the company's rapidly growing cloud business AWS.</p>
<p>The analysts noted that the trough in AWS revenue growth appears to be approaching. Additionally, they point to a strong interest in AWS AI offerings, as evidenced by Google searches and Reddit data.</p>
<p>The analysts highlighted the positive impact of Nvidia's recent financial results. Both AWS and Nvidia's Data Center revenues have shown a strong correlation of approximately 98% since 2017, suggesting a historic shift in demand towards AI compute, which is expected to have a significant growth runway.</p>
<p>On the other hand, the analyst also emphasized the ongoing optimizations observed in Snowflake's recent earnings report. According to the analyst, these optimizations are being carried out across various cloud providers, and Snowflake, in particular, shares a close alignment with AWS. The analyst suggests that customer vertical exposure might be a factor influencing these optimizations. Furthermore, the analyst points out that in a competitive market, the pricing data for GPUs in AWS appears relatively unappealing.</p>
| NASDAQ:AMZN | https://financialmodelingprep.com/market-news/fmp-amazon’s-price-target-raised-on-rapid-aws-growth- | Davit Kirakosyan | Financial Modeling Prep |
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Macy’s Price Target Cut at UBS | 2023-06-07 14:56:00 | <p>UBS analysts lowered their price target on <a href='https://financialmodelingprep.com/financial-summary/M'>Macy (NYSE:M)</a> to $12.00 from $12.75 while maintaining their Sell rating. The analysts expect broader economic factors to lead to a slowdown in consumer spending, which will have a negative impact on Macy's profits. </p>
<p>Due to this, analysts predict that Macy's will experience weaker sales growth and a decrease in margins, causing it to fall short of Street EPS estimates and putting pressure on its stock price. Their estimate for Macy's EPS in fiscal 2023 is significantly lower, around 36%, compared to the Street's forecast. </p>
<p>Looking ahead to 2024, the analysts believe the market is not fully acknowledging the challenges Macy's will face in terms of losing market share to online retailers, as well as brands with their own stores and websites. The analysts project a (12%) compound annual growth rate (CAGR) for the company's EPS over the next five years.</p>
| NYSE:M | https://financialmodelingprep.com/market-news/fmp-macy’s-price-target-cut-at-ubs | Davit Kirakosyan | Financial Modeling Prep |
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Couchbase Shares Plummet 21% on Weak Guidance | 2023-06-07 11:10:00 | <p><a href='https://financialmodelingprep.com/financial-summary/BASE'>Couchbase (NASDAQ:BASE)</a> shares dropped more than 21% intra-day today after the company reported its Q1 earnings, with EPS coming in at ($0.27), above the Street estimate of ($0.32). Revenue came in at $41 million, beating the Street estimate of $39.77 million. While the results beat the estimates, management’s guidance disappointed investors.</p>
<p>The quarter was highlighted by 23% ARR (Annual recurring revenue) growth to $172.2 million, compared to the Street estimate of $170.7 million, which reflected net-new ARR of $8.5 million, up 25% year-over-year.</p>
<p>Management expects Q2/24 revenue to be in the range of $41.2-$41.8 million, compared to the Street estimate of $43.34 million. For the full 2024 year, the company anticipates revenue of $171.7-$174.7 million, compared to the Street estimate of $173.3 million.</p>
| NASDAQ:BASE | https://financialmodelingprep.com/market-news/fmp-couchbase-shares-plummet-21-on-weak-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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Uber’s Review From RBC Capital | 2023-06-07 11:08:00 | <p>RBC Capital analysts provided a review of <a href='https://financialmodelingprep.com/financial-summary/UBER'>Uber Technologies, Inc. (NYSE:UBER)</a> following their quarterly driver supply analysis, which yielded more positive indications for the company than negative. </p>
<p>Their findings indicate the company expanded its pick-up time advantage vs. Lyft (a tailwind for conversion), it maintained a driver compensation advantage vs. Lyft and its driver utilization continued showing better improvement vs. Lyft (a possible encouraging output of up-front pricing). </p>
<p>According to the analysts, their thesis of Uber's structural advantage making it their pick in the space remains intact and incrementally, they like the risk/reward for Uber on Lyft potentially reducing focus on certain loss-making markets in order to achieve better profitability.</p>
| NYSE:UBER | https://financialmodelingprep.com/market-news/fmp-uber’s-review-from-rbc-capital | Davit Kirakosyan | Financial Modeling Prep |
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HealthEquity Stock Soars 11% on Better Than Expected Q1 Results | 2023-06-06 16:28:00 | <p><a href='https://financialmodelingprep.com/financial-summary/HQY'>HealthEquity (NASDAQ:HQY)</a> shares gained more than 11% intra-day today after the company reported its Q1 earnings results, with revenue coming in at $244.4 million, better than the Street estimate of $239.39 million. EPS was $0.50, beating the Street estimate of $0.41. </p>
<p>For fiscal 2024, the company expects EPS to be in the range of $1.88-$1.97, compared to the Street estimate of $1.77, and revenue in the range of $975-$985 million, compared to the Street estimate of $968 million.</p>
<p>While the interest rate outlook continues to be the primary force driving both EBITDA & shares, analysts at RBC Capital see encouraging improvement across other fundamentals as well, including (1) continued progress driving increased adoption of the company's enhanced yield offerings, (2) benefits of automation driving lower service costs, and (3) increasing traction adding new clients.</p>
| NASDAQ:HQY | https://financialmodelingprep.com/market-news/fmp-healthequity-stock-soars-11-on-better-than-expected-q1-results- | Davit Kirakosyan | Financial Modeling Prep |
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Nevro Stock Plummets 20% on Guidance Cut | 2023-06-06 16:25:00 | <p><a href='https://financialmodelingprep.com/financial-summary/NVRO'>Nevro Corp. (NYSE:NVRO)</a> shares plunged nearly 20% intra-day today after the company announced that it lowered its revenue guidance for Q2/23 and announced a new Chief Commercial Officer (CCO). </p>
<p>Management cut its Q2 revenue guidance range to $106-$108 million (up 2-4% year-over-year) from prior $110-$112 million (up 6-8% year-over-year). The company plans to provide additional updates, including updated fiscal 2023 guidance at the Q2 earnings call on Aug 1. </p>
<p>Separately, the company announced Greg Siller as SVP and CCO effective June 19, underscoring their commitment to commercial execution. </p>
| NYSE:NVRO | https://financialmodelingprep.com/market-news/fmp-nevro-stock-plummets-20-on-guidance-cut | Davit Kirakosyan | Financial Modeling Prep |
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The Duckhorn Portfolio’s Upcoming Q1 Earnings Preview | 2023-06-06 16:23:00 | <p>RBC Capital analysts provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/NAPA'>The Duckhorn Portfolio, Inc. (NYSE:NAPA)</a> ahead of the company’s Q1/23 earnings, scheduled to be announced on June 8.</p>
<p>The analysts estimate Q3 revenue of $90 million (in line with the Street estimate), adjusted EBITDA of $28 million (vs. Street’s $29 million), and adjusted EPS of $0.12 (vs. Street’s $0.13). </p>
<p>According to the firm, Q3 will likely play out as a muted quarter for the company as (1) Kosta Browne Appellation series shipments shift out of Q3 and into Q4, leading to topline pressure and margin contraction, and (2) RBC’s channel work indicates mounting category pressure coupled with increasing trade inventory levels. </p>
<p>While the company is gaining a significant share, the analysts see some potential risk to the company's hockey stick assumption in Q4 due to deteriorating category dynamics.</p>
| NYSE:NAPA | https://financialmodelingprep.com/market-news/fmp-the-duckhorn-portfolio’s-upcoming-q1-earnings-preview | Davit Kirakosyan | Financial Modeling Prep |
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Vale Upgraded to Outperform at RBC Capital | 2023-06-06 16:20:00 | <p>RBC Capital analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/VALE'>Vale S.A. (NYSE:VALE)</a> to Outperform from Sector Perform, setting a new price target of $15.00 (previously $13.00). The firm anticipates a further decline in iron ore prices to reach cost support levels of $75-$80/t in the upcoming years. </p>
<p>Despite the unfavorable impact on Vale and its iron solutions business, the analysts mentioned that the current price reflects a long-term iron ore value of approximately $75/t. Given its recent underperformance, Vale is well-positioned to benefit from a potential sector rebound driven by stimulus expectations. Additionally, the analysts noted that the sale of its base metals stake could initiate a series of positive catalysts.</p>
| NYSE:VALE | https://financialmodelingprep.com/market-news/fmp-vale-upgraded-to-outperform-at-rbc-capital | Davit Kirakosyan | Financial Modeling Prep |
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GitLab Stock Jumps 27% After Strong Q1 Earnings | 2023-06-06 11:06:00 | <p><a href='https://financialmodelingprep.com/financial-summary/GTLB'>GitLab (NASDAQ:GTLB)</a> shares surged more than 27% intra-day today after the company delivered a strong start to the year pairing top-line outperformance with margin expansion, both of which carried through into increased guidance by more than the beat.</p>
<p>Q1 EPS was ($0.06), above the Street estimate of ($0.14). Revenue came in at $126.9 million, beating the Street estimate of $117.84 million. </p>
<p>Management anticipates Q2/24 EPS to be in the range of ($0.03)-($0.02), compared to the Street estimate of ($0.08), and revenue in the range of $129-$130 million, compared to the Street estimate of $127 million.</p>
<p>For the full 2024 year, management expects EPS in the range of ($0.18)-($0.14), compared to the Street’s ($0.26), and revenue in the range of $541-$543 million, compared to the Street’s $533 million.</p>
| NASDAQ:GTLB | https://financialmodelingprep.com/market-news/fmp-gitlab-stock-jumps-27-after-strong-q1-earnings- | Davit Kirakosyan | Financial Modeling Prep |