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Western Alliance Shares Surge 15% Following Q1 Results

2023-04-19 06:10:00

<p><a href='https://financialmodelingprep.com/financial-summary/WAL'>Western Alliance Bancorporation (NYSE:WAL)</a> reported its Q1 earnings results yesterday, with EPS of $2.30 coming in better than the Street estimate of $1.97. Revenue was $551.9 million, compared to the Street estimate of $675.91 million.</p> <p>Between March 31 and April 14, there has been an additional $2.0 billion increase in deposits. It is worth noting that the total insured deposits represent 73% of the overall deposits, which is significantly higher than what is typically observed among the top 50 banks in the United States.</p> <p>As a result, shares jumped more than 15% pre-market today.</p>

NYSE:WAL

https://financialmodelingprep.com/market-news/fmp-western-alliance-shares-surge-15-following-q1-results

Davit Kirakosyan

Financial Modeling Prep

Tyler Tech Upgraded to Buy at Goldman Sachs, Shares Up 3%

2023-04-18 18:11:00

<p>Goldman Sachs upgraded <a href='https://financialmodelingprep.com/financial-summary/TYL'>Tyler Tech (NYSE:TYL)</a> to Buy from Neutral with a price target of $424.00, noting it finds the resilience of the government end market attractive in the next 12 months due to macro volatility and a less predictable enterprise software outlook. Shares gained more than 3% today.</p> <p>The analysts also see positive catalysts for the stock, including 2023 being a trough year for margins due to the ongoing shift from on-premise to cloud. The analysts predict that Tyler's transition to a cloud-first model will speed up sales cycles and R&D efficiency, resulting in over 800bps higher operating margins after the cloud transition. </p> <p>The analysts expect that Tyler's Analyst Day and the introduction of a 2030 model will provide investors with visibility on this matter.</p>

NYSE:TYL

https://financialmodelingprep.com/market-news/fmp-tyler-tech-upgraded-to-buy-at-goldman-sachs-shares-up-3

Davit Kirakosyan

Financial Modeling Prep

United Airlines Shares Up on Q1 Beat

2023-04-18 18:08:00

<p><a href='https://financialmodelingprep.com/financial-summary/UAL'>United Airlines (NASDAQ:UAL)</a> shares rose 2% after-hours following the company’s reported Q1 results, with EPS coming in at ($0.63), better than the Street estimate of ($0.74). Revenue was $11.4 billion, slightly above the Street estimate of $11.43 billion.</p> <p>CEO Scott Kirby said that international travel bookings are growing at twice the domestic rate. Despite the risks of an economic recession, airlines are experiencing strong consumer demand and raising ticket prices, which has helped them offset increasing labor and fuel costs.</p> <p>For Q2/23, the company expects EPS to be in the range of $3.50-$4.00, compared to the Street estimate of $3.65. For the full year, the company expects EPS of $10.00-$12.00, compared to the Street estimate of $8.73.</p>

NASDAQ:UAL

https://financialmodelingprep.com/market-news/fmp-united-airlines-shares-up-on-q1-beat

Davit Kirakosyan

Financial Modeling Prep

PowerSchool Shares Gain 4% Following Goldman Upgrade

2023-04-18 18:05:00

<p>Goldman Sachs upgraded <a href='https://financialmodelingprep.com/financial-summary/PWSC'>PowerSchool Holdings Inc. (NYSE:PWSC)</a> to Buy from Neutral with a price target of $24.00, noting it anticipates a continuous enhancement in NRR, powered by improvements to the Unified Platform, resulting in a more valuable experience for customers through a "single pane of glass" integration of PowerSchool's products. </p> <p>As a result, shares gained more than 4% today.</p> <p>Furthermore, there may be significant achievements in international markets that could provide a 100-200bps tailwind to revenue, leading to consistent organic growth of over 10%.</p>

NYSE:PWSC

https://financialmodelingprep.com/market-news/fmp-powerschool-shares-gain-4-following-goldman-upgrade

Davit Kirakosyan

Financial Modeling Prep

Polestar Plans to Commence EV Production in South Carolina from 2024

2023-04-18 18:01:00

<p><a href='https://financialmodelingprep.com/financial-summary/PSNY'>Polestar (NASDAQ:PSNY)</a> CEO, Thomas Ingenlath, informed journalists that the luxury electric vehicle brand intends to commence production in South Carolina for the U.S. and European markets from 2024.</p> <p>Currently, Polestar produces its three existing models from plants located in Chengdu and Taizhou, China, exporting them to various countries, including the U.S.</p> <p>Additionally, the CEO mentioned during an auto show that production of the Polestar 4 is expected to begin later this year in Hangzhou Bay, China. Preorders for the Polestar 4 will be available in China starting today and in all other markets by 2024.</p> <p>In 2022, Polestar delivered over 50,000 vehicles worldwide and aims to sell 80,000 this year, mostly through the Polestar 2 hatchback.</p>

NASDAQ:PSNY

https://financialmodelingprep.com/market-news/fmp-polestar-plans-to-commence-ev-production-in-south-carolina-from-2024

Davit Kirakosyan

Financial Modeling Prep

Goldman Sachs Shares Drop 3% on Q1 Revenue Miss, While EPS Beats Estimates

2023-04-18 15:18:00

<p><a href='https://financialmodelingprep.com/financial-summary/GS'>Goldman Sachs (NYSE:GS)</a> shares fell more than 3% intra-day today after the company reported its Q1 earnings results, with revenue coming in at $12.22 billion, missing the Street estimate of $12.83 billion. EPS was $8.79, above the Street estimate of $8.24.</p> <p>Goldman Sachs' Q1 profit dropped 19% due to decreased dealmaking and bond trading, as well as losses from asset sales in their consumer business. During the earnings call, CEO David Solomon noted that investment banking activity remains weak and clients are cautious. </p> <p>He also acknowledged that recent events in the banking sector have lowered growth expectations and increased the risk of credit contractions, as the environment limits banks' ability to extend credit. The failures of Silicon Valley and Signature Bank in March shook investor confidence in the banking sector, but Solomon highlighted that Goldman's overall results were still strong and proved the resilience of big banks.</p>

NYSE:GS

https://financialmodelingprep.com/market-news/fmp-goldman-sachs-shares-drop-3-on-q1-revenue-miss-while-eps-beats-estimates

Davit Kirakosyan

Financial Modeling Prep

Sunrun Upgraded to Overweight at KeyBanc

2023-04-18 15:16:00

<p><a href='https://financialmodelingprep.com/financial-summary/RUN'>KeyBanc upgraded Sunrun (NASDAQ:RUN)</a> to Overweight from Sector Weight with a $27 price target, based on the company's attractive valuation, strong data from CA, and its view that residential solar firms have a significant pricing power to execute in the higher interest rate environment.</p> <p>KeyBanc noted that residential solar company shares, such as Sunrun, have significantly underperformed during the tightening cycle. Although the shares have been noticeably cheap for some time, analysts believe that the worst of the tightening cycle appears to have passed, indicating that the sentiment should reach its lowest point at current levels. </p> <p>Moreover, KeyBanc has a positive outlook on the company's fundamentals and expects that multiple concerns arising from California regulatory changes and rate volatility will start to dissipate in the near term.</p>

NASDAQ:RUN

https://financialmodelingprep.com/market-news/fmp-sunrun-upgraded-to-overweight-at-keybanc

Davit Kirakosyan

Financial Modeling Prep

Okta’s Price Target Raised at Jefferies

2023-04-18 15:13:00

<p><a href='https://financialmodelingprep.com/financial-summary/OKTA'>Okta (NASDAQ:OKTA)</a> price target was raised to $105.00 from $100.00 at Jefferies, which reiterated its Buy rating on the stock. This adjustment was made after conducting a thorough analysis of customer identity access management (CIAM), revealing that it presents a major opportunity for growth, and that Okta is the current leader in this field.</p> <p>Several key takeaways from the note include: (1) the CIAM total addressable market (TAM) is expected to reach $13 billion by 2025, representing a significant greenfield opportunity, (2) Okta is currently leading in developer CIAM mind share, (3) CIAM represents an underappreciated opportunity for subscription upside, and (4) CIAM mitigates some of the long-term Microsoft risk narratives regarding the workforce.</p>

NASDAQ:OKTA

https://financialmodelingprep.com/market-news/fmp-okta’s-price-target-raised-at-jefferies

Davit Kirakosyan

Financial Modeling Prep

M&T Bank Shares Jump 7% on Q1 Beat

2023-04-18 15:11:00

<p><a href='https://financialmodelingprep.com/financial-summary/MTB'>M&T Bank (NYSE:MTB)</a> shares gained more than 7% yesterday after the company reported its Q1 earnings results, with EPS of $4.01 coming in better than the Street estimate of $3.95. Revenue was $2.41 billion, beating the Street estimate of $2.39 billion.</p> <p>The beat was driven by a lower-than-expected provision for credit losses and stronger-than-expected non-interest income and net interest income, partially offset by larger-than-expected noninterest expense. Net interest income was $1.83 billion, compared to the year-ago quarter of $907 million.</p> <p>Following the results, analysts at Oppenheimer revised their 2023 and 2024 EPS estimates to $17.07 and $18.00 from $17.31 and $18.82, respectively. Their lowered estimates were driven by scaling back the share repurchase program in 2023. The analysts reiterated their Outperform rating and $183 price target on the stock.</p>

NYSE:MTB

https://financialmodelingprep.com/market-news/fmp-m&t-bank-shares-jump-7-on-q1-beat

Davit Kirakosyan

Financial Modeling Prep

Deutsche Bank Sees Attractive Opportunity for Walt Disney in H2/2023

2023-04-18 15:03:00

<p>Deutsche Bank analysts raised their price target for <a href='https://financialmodelingprep.com/financial-summary/DIS'>Walt Disney (NYSE:DIS)</a> shares from $130 to $135, maintaining a Buy rating on the stock. According to the analysts’ note, the firm foresees an attractive opportunity for Disney in the second half of 2023, with several factors poised to drive stock appreciation in the back half of the company's fiscal year. </p> <p>The firm anticipates an inflection point for earnings growth in Q3, propelled by year-over-year margin improvement in DMED (Entertainment) and continued strong revenue growth and margin expansion in DPEP (Parks & Consumer Products). </p> <p>The analysts also expect cost reduction initiatives to drive loss improvement in Streaming during the June and September quarters, resulting in smaller year-over-year operating income declines in Linear Networks. </p> <p>Overall, the analysts estimate that 2023 will be the trough for DMED profit, as Linear Networks operating income is projected to decline by more than Streaming operating loss improves, despite 2022 being the peak year for Streaming losses.</p>

NYSE:DIS

https://financialmodelingprep.com/market-news/fmp-deutsche-bank-sees-attractive-opportunity-for-walt-disney-in-h22023

Davit Kirakosyan

Financial Modeling Prep

Universal Display's Price Target Raised to $180 From $160

2023-04-18 14:57:00

<p>Oppenheimer analysts raised their price target on <a href='https://financialmodelingprep.com/financial-summary/OLED'>Universal Display (NASDAQ:OLED)</a> to $180 from $160 in light of recent positive news flow. </p> <p>The analysts reiterated their Outperform rating, noting they expect the company to stay on track for further re-rating given strong secular and company-specific growth catalysts in the next 18 months. </p> <p>In the past two weeks alone, we've seen reports including Samsung's official commitment to building a new Gen 8.7 OLED fab for IT applications by 2025, resumption of WOLED TV supply negotiations between LG and Samsung, and more reports on iPad Pro's adoption of OLED display by 2024. </p> <p>Year to date, the company’s stock has gained 24%, compared to 12% and 7% gains from SOX and NASDAQ Composite, respectively. </p>

NASDAQ:OLED

https://financialmodelingprep.com/market-news/fmp-universal-displays-price-target-raised-to-$180-from-$160

Davit Kirakosyan

Financial Modeling Prep

Roblox Shares Plummet 12% on March Key User Metrics Announcement

2023-04-17 21:08:00

<p><a href='https://financialmodelingprep.com/financial-summary/RBLX'>Roblox (NYSE:RBLX)</a> shares plunged around 12% on Monday following the company’s report on key user metrics for March. While hours engaged were better than the previous month at 4.8 billion, daily active users (DAUs) dropped by 1.1 million to 66.2 million. </p> <p>The company expects bookings between $247 million and $255 million and revenue between $212 million and $223 million, with the average bookings per DAU seen at $3.79, slightly above February's $3.64.</p> <p>Roblox will no longer provide monthly updates on key user metrics. The company has decided to move to quarterly updates for investors in the future.</p>

NYSE:RBLX

https://financialmodelingprep.com/market-news/fmp-roblox-shares-plummet-12-on-march-key-user-metrics-announcement-

Davit Kirakosyan

Financial Modeling Prep

Bank of America Raises e.l.f. Beauty’s Price Target to $105

2023-04-17 21:05:00

<p>Bank of America reaffirmed their Buy recommendation on <a href='https://financialmodelingprep.com/financial-summary/ELF'>e.l.f. Beauty (NYSE:ELF)</a>, and increased their price target from $75.00 to $105.00. The decision was made after the company's share value grew by around 135% since September 2022. The increase was attributed to e.l.f. Beauty's success in gaining market share in color cosmetics, expanding shelf space in major retailers, and introducing innovative products that appeal to their core consumers.</p> <p>According to analysts, there are still opportunities for e.l.f. Beauty to outperform in the future, including gaining more shelf space, benefiting from product innovation and the expansion of ELF Skin, and expanding into lip and eye cosmetics.</p> <p>e.l.f. Beauty has exceeded expectations and increased guidance for 2023, and Bank of America remains optimistic about the company's prospects in 2024 and 2025, surpassing the Street estimates. For 2023, e.l.f. Beauty has forecasted net sales of $541-$555 million, which represents a growth of 38-39% year-over-year.</p>

NYSE:ELF

https://financialmodelingprep.com/market-news/fmp-bank-of-america-raises-elf-beauty’s-price-target-to-$105

Davit Kirakosyan

Financial Modeling Prep

Smith & Nephew’s Upcoming Q1 Earnings Preview

2023-04-17 21:02:00

<p>RBC Capital shared their outlook on <a href='https://financialmodelingprep.com/financial-summary/SNN'>Smith & Nephew plc (NYSE:SNN)</a> ahead of the upcoming Q1/23 earnings announcement, scheduled on April 26, expecting revenue growth of 3.9%. This is due to the company benefiting from positive trends in US electives but tempered by headwinds in China.</p> <p>According to the analysts, Q1 is set to be 2023's weakest quarter, in line with company guidance and commentary from competitors. The analysts continue to believe that the company's valuation vs peers do not account for its competitive positioning or growth outlook, and they anticipate a gradual re-rating as it delivers on its self-help strategy.</p>

NYSE:SNN

https://financialmodelingprep.com/market-news/fmp-smith-&-nephew’s-upcoming-q1-earnings-preview

Davit Kirakosyan

Financial Modeling Prep

State Street Shares Plunge 9% on Q1 Earnings Miss

2023-04-17 20:59:00

<p><a href='https://financialmodelingprep.com/financial-summary/STT'>State Street's (NYSE:STT)</a> shares dropped more than 9% on Monday after the bank missed Q1 Street estimates. The company posted earnings per share (EPS) of $1.52 on revenue of $3.1 billion, which fell below the Street estimate of $1.65 per share on sales of $3.13 billion. </p> <p>The report also showed a year-over-year decline of 9.2% in fee revenue. The Q1 results were impacted by a $1 billion liquidity injection into the U.S. financial system, which had a $0.06 per share impact on earnings. The bank reported $26 billion in net outflows and net interest income (NII) of $766 million, below the Street estimates.</p>

NYSE:STT

https://financialmodelingprep.com/market-news/fmp-state-street-shares-plunge-9-on-q1-earnings-miss

Davit Kirakosyan

Financial Modeling Prep

Uber Price Target Raised on Expected EBITDA Growth

2023-04-17 20:56:00

<p>Jefferies raised its price target on <a href='https://financialmodelingprep.com/financial-summary/UBER'>Uber Inc. (NYSE:UBER)</a> to $49.00 from $47.00 while reiterating their Buy rating, noting that the company’s above-consensus EBITDA is expected to rise with faster growth in higher-margin businesses (Mobility & Advertising).</p> <p>The analysts predict approximately $5.6 billion in 2024 EBITDA and a 7% upside to the Street estimate, with a long runway for margin expansion. EBITDA growth is estimated to be around 45% vs. 15% in 2022-2027 CAGR. </p> <p>According to the analysts, the strong EBITDA should boost confidence in long-term economics and drive Uber's multiple higher, leading to higher share prices.</p>

NYSE:UBER

https://financialmodelingprep.com/market-news/fmp-uber-price-target-raised-on-expected-ebitda-growth

Davit Kirakosyan

Financial Modeling Prep

PulteGroup’s Price Target Raised to $73 From $68 at Oppenheimer

2023-04-17 20:53:00

<p>Oppenheimer analysts raised their price target on <a href='https://financialmodelingprep.com/financial-summary/PHM'>PulteGroup, Inc. (NYSE:PHM)</a> to $73 from $68 and reiterated their Outperform rating, expecting multiple expansions given a positive backdrop for builders broadly and because the company likely will have the highest ROE in the space this year. </p> <p>According to analysts, they believe that the premium can be maintained in 2023 due to various factors such as Pulte's projected gross margin, backlog ASP, market mix, and exposure to a diverse range of buyers. Furthermore, the analysts anticipate that the estimated earnings per share (EPS) for 2023 could increase, as it is currently 35% lower compared to the same time last year.</p> <p>The analysts highlighted $0.38 of incremental upside to their $7.85 estimate (vs. the Street’s $7.50) based on higher closing ASP and margin.</p>

NYSE:PHM

https://financialmodelingprep.com/market-news/fmp-pultegroup’s-price-target-raised-to-$73-from-$68-at-oppenheimer-

Davit Kirakosyan

Financial Modeling Prep

What to Expect From Verisk Analytics’ Upcoming Q1/23 Earnings?

2023-04-17 20:51:00

<p>RBC Capital analysts provided their views on <a href='https://financialmodelingprep.com/financial-summary/VRSK'>Verisk Analytics (NASDAQ:VRSK)</a> ahead of the company’s upcoming Q1/23 earnings, scheduled to be reported on May 3.</p> <p>The analysts expect organic growth to improve throughout fiscal 2023 as the headwinds in the auto underwriting and marketing moderate, workers' compensation improves, and robust pricing tailwinds above the premium growth. </p> <p>According to the analysts, the recent investor day reinforced the results-driven culture under the new management team, focusing on growth while balancing investments. </p> <p>The analysts conservatively estimate Q1/23 revenue of $629 million, slightly below the Street estimate of $633 million, as their Underwriting & Ratings revenues of $449 million are in line with the Street but their Claims revenue estimate of $180 million is modestly below the Street estimate of $183 million. The analysts expect Q1 EBITDA of $317 million and EPS of $1.15, below the Street estimate of $323 million and $1.19, due to higher stranded costs from the Energy divestiture.</p>

NASDAQ:VRSK

https://financialmodelingprep.com/market-news/fmp-what-to-expect-from-verisk-analytics’-upcoming-q123-earnings?

Davit Kirakosyan

Financial Modeling Prep

HP Shares Up 3% on JPMorgan’s Upgrade

2023-04-17 15:12:00

<p><a href='https://financialmodelingprep.com/financial-summary/HPQ'>HP, Inc. (NYSE:HPQ)</a> shares are trading more than 3% higher intra-day today after JPMorgan upgraded the company to Overweight from Neutral and raised its price target to $35.00 from $30.00. The upgrade is based on the expectation of a strong recovery in the Personal Systems (PS) segment, which is expected to be accompanied by resilient revenue and margins in the Print segment.</p> <p>According to the analysts, HP, Inc. has undertaken several initiatives to improve the structural margin of the Print segment. They believe that this improvement will help offset some of the expected margin moderation in the Print segment in the upcoming quarters.</p> <p>Although there may be some margin moderation in the Print segment due to improving supply, the analysts believe it will be more muted than previously feared on a better supply-demand balance. </p>

NYSE:HPQ

https://financialmodelingprep.com/market-news/fmp-hp-shares-up-3-on-jpmorgan’s-upgrade

Davit Kirakosyan

Financial Modeling Prep

World Wrestling Entertainment Upgraded at Morgan Stanley, Newly Formed TKO is an Attractive Opportunity

2023-04-17 15:04:00

<p><a href='https://financialmodelingprep.com/financial-summary/WWE'>World Wrestling Entertainment (NYSE:WWE)</a> was upgraded to Overweight from Equalweight by Morgan Stanley, with a new price target of $120.00 (from $105.00). The analysts said that investors can gain exposure to the attractive risk/reward of TKO, which is the new, publicly listed firm to be formed after <a href='https://financialmodelingprep.com/financial-summary/EDR'>Endeavor Group Holdings Inc. (NYSE:EDR)</a> combines with WWE in a deal valued at about $21 billion.</p> <p>Morgan Stanley sees TKO as an attractive investment due to the secular tailwinds behind sports and entertainment media rights revenues, live content, and the defensive characteristics of largely contracted revenue growth. The proposed agreement between Endeavor Group Holdings and World Wrestling Entertainment results in the creation of pure-play sports and entertainment equity. The combination of these two companies, particularly with the inclusion of the Ultimate Fighting Championship (UFC), which is a rapidly growing and highly profitable global sport, is expected to create significant value.</p> <p>The analysts believe that the value of this asset was and is not being captured in Endeavor shares, making TKO an attractive investment opportunity for investors looking to gain exposure to the growing sports and entertainment industry.</p>

NYSE:WWE

https://financialmodelingprep.com/market-news/fmp-world-wrestling-entertainment-upgraded-at-morgan-stanley-newly-formed-tko-is-an-attractive-opportunity

Davit Kirakosyan

Financial Modeling Prep

V.F. Corp Double Upgraded at Goldman Sachs

2023-04-17 12:28:00

<p>Goldman Sachs upgraded <a href='https://financialmodelingprep.com/financial-summary/VFC'>V.F. Corp. (NYSE:VFC)</a> to Buy from Sell, with an increased price target of $27, citing the stock's nearing inflection point with the balance of catalysts for the stock now weighted to the upside. </p> <p>The analysts noted that the company's extreme underperformance over the past two years coupled with the company's turnaround initiatives will drive relative outperformance in the stock.</p> <p>Goldman listed several key bullish developments for the company, including a stronger product innovation pipeline at Vans, better retail merchandising, and wholesale distribution optimization, which should help stem declines in North America revenues. Additionally, enhanced operational focus with better inventory management and cost control is expected to deliver stronger free cash flow in 2024. </p> <p>The company's strategic optionality from new management is also a positive, as it is in talks to find a new permanent CEO and has recently appointed new heads at Vans, Dickies, and emerging brands.</p>

NYSE:VFC

https://financialmodelingprep.com/market-news/fmp-vf-corp-double-upgraded-at-goldman-sachs-

Davit Kirakosyan

Financial Modeling Prep

Shopify is Set to Beat 2023/2024 Expectations

2023-04-16 19:49:00

<p>Oppenheimer suggests that <a href='https://financialmodelingprep.com/financial-summary/SHOP'>Shopify (NYSE:SHOP)</a> has the potential to surpass consensus estimates for fiscal 2023 and 2024. If Shopify's existing cohort growth patterns match pre-COVID averages (the current Baseline) and new cohorts added in the next two years continue to moderate from around $309 million in 2022, it should be able to meet or slightly exceed consensus expectations for 2023.</p> <p>Oppenheimer’s analysis incorporating historical customer cohorts projects a total revenue growth of 27%/25% in 2023/2024, exceeding Street estimates of 19%/21%. The analysts highlighted better macro and product adoption as a significant driver of this upside. </p> <p>The analysts reiterated its Outperform rating and $65 price target on the stock.</p>

NYSE:SHOP

https://financialmodelingprep.com/market-news/fmp-shopify-is-set-to-beat-20232024-expectations-

Davit Kirakosyan

Financial Modeling Prep

Spirit AeroSystems Shares Plunge 20% on Boeing 737 Issues

2023-04-16 19:47:00

<p><a href='https://financialmodelingprep.com/financial-summary/SPR'>Spirit AeroSystems (NYSE:SPR)</a> shares dropped more than 20% after it identified a quality issue affecting near-term deliveries of certain Boeing 737 models. According to Boeing, a non-standard manufacturing process was used during the installation of two fittings in the aft fuselage section of some 737-7, 737-8, 737-8-200, and P-8 planes, creating the potential for non-conformance to required specifications. </p> <p>The quality issue that has been identified by Spirit AeroSystems will impact a significant number of undelivered Boeing 737 MAX planes, including those currently in production and storage. It is also expected to cause delays in upcoming deliveries.</p> <p>Spirit is currently working on an inspection and repair solution. Bernstein believes the issue is a bigger problem for Spirit than for Boeing.</p>

NYSE:SPR

https://financialmodelingprep.com/market-news/fmp-spirit-aerosystems-shares-plunge-20-on-boeing-737-issues-

Davit Kirakosyan

Financial Modeling Prep

Rivian Downgraded at Piper Sandler

2023-04-16 19:44:00

<p><a href='https://financialmodelingprep.com/financial-summary/RIVN'>Rivian Automotive (NASDAQ:RIVN)</a> was downgraded by Piper Sandler to Neutral from Overweight, with a price target cut to $15.00 from $63.00, due to concerns over the company's costly strategy. </p> <p>The firm believes that while Rivian's vertical integration strategy for after-sales revenue is sound, it requires a significant investment of over $4 billion to fund growth beyond 2025. Until funding is secured, the analysts predict the company will trade at book value. Despite this, analysts see a permanent shift in the auto industry towards electrification and automation, favoring cost-efficient manufacturers like Tesla and potentially Rivian.</p> <p>According to the analysts, manufacturers that are both vertically integrated and cost-efficient, such as Tesla and possibly Rivian, will thrive while traditional mass-market brands suffer. In addition, these companies may also compete in the smaller, high-end segments that are typically dominated by luxury brands but have lower sales volumes.</p>

NASDAQ:RIVN

https://financialmodelingprep.com/market-news/fmp-rivian-downgraded-at-piper-sandler-

Davit Kirakosyan

Financial Modeling Prep

Piper Sandler Mentions Number of Companies to Benefit From Generative AI

2023-04-16 19:41:00

<p>According to Piper Sandler analysts, generative AI is poised to become the next technology revolution with significant implications for both consumer and enterprise sectors. The analysts estimate the market opportunity to exceed $100 billion, split between AI-enabled search advertising and AI-enabled enterprise application revenue. </p> <p>The analysts cited the success of ChatGPT, which attracted over 300 million unique visitors in March, as evidence of the technology's potential. </p> <p>The analysts highlighted number of companies that are likely to benefit from the generative AI technology, including, <a href='https://financialmodelingprep.com/financial-summary/GOOGL'>Alphabet (NASDAQ:GOOGL)</a>, <a href='https://financialmodelingprep.com/financial-summary/MSFT'>Microsoft (NASDAQ:MSFT)</a>, <a href='https://financialmodelingprep.com/financial-summary/META'>Meta Platforms (NASDAQ:META)</a>, <a href='https://financialmodelingprep.com/financial-summary/ORCL'>Oracle (NYSE:ORCL)</a>, <a href='https://financialmodelingprep.com/financial-summary/NVDA'>Nvidia (NASDAQ:NVDA)</a>, <a href='https://financialmodelingprep.com/financial-summary/ANET'>Arista Networks (NYSE:ANET)</a>, <a href='https://financialmodelingprep.com/financial-summary/DOCS'>Doximity (NYSE:DOCS)</a>, <a href='https://financialmodelingprep.com/financial-summary/DUOL'>DuoLingo (NASDAQ:DUOL)</a>, <a href='https://financialmodelingprep.com/financial-summary/INTU'>Intuit (NASDAQ:INTU)</a>, <a href='https://financialmodelingprep.com/financial-summary/SNOW'>Snowflake (NYSE:SNOW)</a>, <a href='https://financialmodelingprep.com/financial-summary/ADSK'>Autodesk (NASDAQ:ADSK)</a>, <a href='https://financialmodelingprep.com/financial-summary/FIVN'>Five9 (NASDAQ:FIVN)</a>, <a href='https://financialmodelingprep.com/financial-summary/NICE'>Nice (NASDAQ:NICE)</a>, and <a href='https://financialmodelingprep.com/financial-summary/GTLB'>GitLab (NASDAQ:GTLB)</a>.</p>

NASDAQ:GOOGL,, NASDAQ:MSFT,, NASDAQ:META,, NYSE:ORCL,, NASDAQ:NVDA,, NYSE:ANET,, NYSE:DOCS,, NASDAQ:DUOL,, NASDAQ:INTU,, NYSE:SNOW,, NASDAQ:ADSK,, NASDAQ:FIVN,, NASDAQ:NICE,, NASDAQ:GTLB

https://financialmodelingprep.com/market-news/fmp-piper-sandler-mentions-number-of-companies-to-benefit-from-generative-ai

Davit Kirakosyan

Financial Modeling Prep

CarMax Shares Up 5% Since Q4 Results Announcement

2023-04-16 14:43:00

<p><a href='https://financialmodelingprep.com/financial-summary/KMX'>CarMax (NYSE:KMX)</a> shares rose more than 5% since the company reported its Q4 results on Tuesday, with EPS of $0.44 beating the Street estimate of $0.20. However, revenue was $5.7 billion, worse than the Street estimate of $6.11 billion.</p> <p>While Q4 GPU (gross profit per unit) was solid (wholesale GPU of $1,187, vs. Street’s $984), driven by recent price appreciation and strong dealer demand, analysts at RBC Capital are of the view that the profit environment will remain pressured for the company. The analysts expect retail prices to come down, higher rates to continue to cause affordability issues for consumers, and CAF income to decline as the net interest margin is squeezed. This, however, seems to be well understood by investors and is appropriately reflected in buy-side consensus.</p>

NYSE:KMX

https://financialmodelingprep.com/market-news/fmp-carmax-shares-up-5-since-q4-results-announcement-

Davit Kirakosyan

Financial Modeling Prep

Wells Fargo Reports Better Than Expected Q1 Results

2023-04-16 14:41:00

<p><a href='https://financialmodelingprep.com/financial-summary/WFC'>Wells Fargo (NYSE:WFC)</a> reported its Q1 earnings results on Friday, with EPS of $1.23 coming in better than the Street estimate of $1.12. Revenue was $20.73 billion, beating the Street estimate of $20.12 billion.</p> <p>The company's net interest income of $13.34 billion exceeded the Street's expectation of $13.09 billion, and its return on equity was 11.7%, surpassing the anticipated 10.5% and significantly improving from the 8.7% recorded during the same period last year.</p> <p>Wells Fargo executives discussed the bank's exposure to commercial real estate (CRE) during a conference call with analysts, acknowledging the risk posed by empty offices in major cities due to remote working. </p> <p>CEO Charlie Scharf noted that there are "pockets of risks" and the bank is proactively managing its own exposures. As of March, the company had outstanding CRE loans of $154.7 billion, accounting for 16% of total loans, with $35.7 billion in office loans.</p>

NYSE:WFC

https://financialmodelingprep.com/market-news/fmp-wells-fargo-reports-better-than-expected-q1-results-

Davit Kirakosyan

Financial Modeling Prep

First Advantage’s Upcoming Q1 Earnings Preview

2023-04-16 14:11:00

<p>RBC Capital analysts provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/FA'>First Advantage's (NASDAQ:FA)</a> upcoming Q1/23 earnings, expected to be released on May 10. </p> <p>The analysts expect a roughly in-line quarter with tough year-over-year comps in H1/23 and slightly higher OPEX as a percentage of sales. Although comps get easier in H2/23, the analysts continue to monitor the quit rates and the hiring environment. </p> <p>The analysts estimate Q1/23 revenues of $172 million (down 9.5% year-over-year), roughly in line with the Street estimate of $174 million. RBC Capital’s EPS estimate stands at $0.18, also below the Street estimate of $0.19.</p> <p>Given the negative macro headwinds, the analysts expect the company to focus on controlling cost, leveraging automation, and up/cross-selling its existing customer base.</p>

NASDAQ:FA

https://financialmodelingprep.com/market-news/fmp-first-advantage’s-upcoming-q1-earnings-preview-

Davit Kirakosyan

Financial Modeling Prep

Checkpoint Software Downgraded at Raymond James

2023-04-16 14:04:00

<p>Raymond James downgraded <a href='https://financialmodelingprep.com/financial-summary/CHKP'>Checkpoint Software (NASDAQ:CHKP)</a> to Market Perform from Outperform, citing a deceleration in broader spending intentions that could ultimately lead to a period of deflation.</p> <p>The firm’s previous bullish stance was based on growth acceleration, which was not reflected in estimates, but recent conversations with channel partners suggest a deteriorating spending environment for Check Point solutions.</p> <p>According to the analyst, there is a high volume of renewals for Check Point-specific demand, but they are for shorter durations or smaller amounts, indicating a possibility of increased share loss. Additionally, the reception for new products in key areas has been unimpressive.</p>

NASDAQ:CHKP

https://financialmodelingprep.com/market-news/fmp-checkpoint-software-downgraded-at-raymond-james

Davit Kirakosyan

Financial Modeling Prep

JPMorgan Shares Soar 7% on Better Than Expected Q1 Results

2023-04-14 23:10:00

<p><a href='https://financialmodelingprep.com/financial-summary/JPM'>JPMorgan (NYSE:JPM)</a> shares surged more than 7% on Friday after the company reported its Q1 results, with EPS coming in at $4.10, better than the Street estimate of $3.41. Revenue was $38.3 billion, beating the Street estimate of $36.13 billion.</p> <p>While the rest of the industry experienced a 3% decrease in Q1, JPMorgan gained $50 billion in deposits. J.P. Morgan's performance highlights the ability of large banks to withstand industry disruptions. The bank's extensive variety of businesses and immense assets enabled it to endure a crisis that impacted smaller and regional lenders.</p> <p>The bank's net interest income, which measures the difference between the interest it pays to depositors and the interest it charges for loans, went up by 49%, resulting in a 52% increase in overall profits.</p> <p>Additionally, the bank raised its estimates for net interest income to $81 billion for this year, not including market profits, up from the previous estimate of $74 billion.</p>

NYSE:JPM

https://financialmodelingprep.com/market-news/fmp-jpmorgan-shares-soar-7-on-better-than-expected-q1-results

Davit Kirakosyan

Financial Modeling Prep

Citigroup Shares Surge 4% on Q1 Beat

2023-04-14 23:07:00

<p><a href='https://financialmodelingprep.com/financial-summary/C'>Citigroup (NYSE:C)</a> shares gained more than 4% on Friday after the company reported its Q1 results, with EPS of $2.19 (boosted by the $953 million impact from the sale of the India consumer business) coming in significantly above the Street estimate of $1.70. Revenue was $21.4 billion, beating the Street estimate of $20.05 billion.</p> <p>While investment banking and equity sales & trading revenues dropped 25% year-over-year, the FICC sales & trading revenue came in better than the analysts’ estimates.</p> <p>CEO Jane Fraser informed investors that the bank is getting ready for a mild economic downturn later this year, which could worsen in case of a more serious credit crisis.</p>

NYSE:C

https://financialmodelingprep.com/market-news/fmp-citigroup-shares-surge-4-on-q1-beat

Davit Kirakosyan

Financial Modeling Prep

What to Expect From Nutrien’s Upcoming Q1 Earnings Results?

2023-04-14 23:05:00

<p>RBC Capital analysts provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/NTR'>Nutrien (NYSE:NTR)</a>, expecting a weak Q1 (scheduled on May 10) and 2023 downward guidance revisions, reflecting a slow start to 2023. RBC Capital estimates quarterly EBITDA of $1.6 billion, compared to the Street estimate of $1.7 billion.</p> <p>Demand was slower than expected through Q1, despite favorable ag/fertilizer fundamentals, resulting in continued price declines and slow sales. Nitrogen performed worse than anticipated, and there was also a decline in potash.</p> <p>The analysts lowered their 2023 and 2024 EBITDA estimates to $8.1 billion and $7.9 billion, from $9.0 billion and $8.7 billion, and cut their price target to $100 from $110.</p>

NYSE:NTR

https://financialmodelingprep.com/market-news/fmp-what-to-expect-from-nutrien’s-upcoming-q1-earnings-results?

Davit Kirakosyan

Financial Modeling Prep

Lamb Weston Reports Q3 Beat, Provides Strong Guidance

2023-04-13 09:53:00

<p><a href='https://financialmodelingprep.com/financial-summary/LW'>Lamb Weston (NYSE:LW)</a> reported its Q3 earnings results last week, with EPS coming in at $1.43, better than the Street estimate of $0.99. Revenue was $1.25 billion (up 31% year-over-year), compared to the Street estimate of $1.16 billion. Price/mix rose by 31%, driven by pricing actions taken across the company's core business segments to counter input and manufacturing cost inflation. </p> <p>While overall volume remained flat due to the strategic management of customer and product mix to manage capacity constraints, strong shipment growth to North America’s large chain restaurant and retail channel customers helped to offset the impact of the company exiting certain lower-priced and lower-margin businesses.</p> <p>For fiscal 2023, the company expects EPS to be in the range of $4.35-$4.50, compared to the Street estimate of $3.94, and revenue in the range of $5.25-5.35 billion, compared to the Street estimate of $5.154 billion.</p>

NYSE:LW

https://financialmodelingprep.com/market-news/fmp-lamb-weston-reports-q3-beat-provides-strong-guidance

Davit Kirakosyan

Financial Modeling Prep

Constellation Brands Report Better Than Expected Q4 Results & 2024 Guidance

2023-04-13 09:50:00

<p><a href='https://financialmodelingprep.com/financial-summary/STZ'>Constellation Brands (NYSE:STZ)</a> reported its Q4 results last week, with EPS of $1.98 beating the Street estimate of $1.84. Revenue was $2 billion (down 5% year-over-year), roughly in line with the Street estimate of $2.01 billion. Wine and Spirits shipments dropped 22.1% year-over-year.</p> <p>The company provided its outlook for the full 2024 year, expecting EPS to be in the range of $11.70-$12.00, better than the Street estimate of $11.68.</p> <p>Furthermore, the company hiked its quarterly dividend by 11% to $0.89 per share.</p>

NYSE:STZ

https://financialmodelingprep.com/market-news/fmp-constellation-brands-report-better-than-expected-q4-results-&-2024-guidance-

Davit Kirakosyan

Financial Modeling Prep

Mosaic Downgraded at JPMorgan, Price Target Cut at Stifel

2023-04-13 09:48:00

<p>JPMorgan downgraded <a href='https://financialmodelingprep.com/financial-summary/MOS'>Mosaic (NYSE:MOS)</a> to Neutral from Overweight and lowered its price target to $46.00 from $60.00 on increased macro-risks to the valuation of the company, noting it is looking for a deeper discount to the company’s normalized valuation as a re-entry point.</p> <p>Meanwhile, Stifel lowered the price target on the company to $46.00 from $54.00 while maintaining a Hold rating. According to Stifel analysts, broader demand for P&K has been affected by a late US Spring and Brazil de-stocking, and affordability levels in less productive agronomies are a concern, particularly with the possibility of higher interest rates straining access to working capital financing. </p> <p>The analysts believe that the faster-than-expected correction in fertilizer prices will generate incremental headwinds for shares, leading investors to become more hesitant to call a new floor in fertilizer markets, despite prices holding within their longer-term expectations for 'new normal' pricing. </p>

NYSE:MOS

https://financialmodelingprep.com/market-news/fmp-mosaic-downgraded-at-jpmorgan-price-target-cut-at-stifel

Davit Kirakosyan

Financial Modeling Prep

Levi Reports a Q1 Beat, But Shares Drop 16% on Gross Margin Miss

2023-04-13 09:45:00

<p><a href='https://financialmodelingprep.com/financial-summary/LEVI'>Levi (NYSE:LEVI)</a> shares dropped more than 16% since last Thursday, when the company reported its Q1 results, with EPS of $0.34 coming in above the Street estimate of $0.32. Revenue was $1.7 billion, compared to the Street estimate of $1.62 billion.</p> <p>The company reported a significant reduction in inventory levels. However, on a negative note, gross margins fell 360 basis points year-over-year, coming in at 55.8%, missing the 56.8% Street estimate.</p> <p>The company reiterated its fiscal 2023 guidance, expecting EPS of $1.30-$1.40, compared to the Street estimate of $1.33, and revenue of $6.3-6.4 billion, compared to the Street estimate of $6.31 billion.</p> <p>Following the results, BofA Securities lowered the price target on the company to $16.00 from $18.00 while maintaining a Neutral rating. Meanwhile, Wells Fargo cut its price target to $18.00 from $20.00 while maintaining an Overweight rating.</p>

NYSE:LEVI

https://financialmodelingprep.com/market-news/fmp-levi-reports-a-q1-beat-but-shares-drop-16-on-gross-margin-miss-

Davit Kirakosyan

Financial Modeling Prep

McDonald's Price Target Raised on Digital Momentum

2023-04-11 20:03:00

<p><a href='https://financialmodelingprep.com/financial-summary/MCD'>Jefferies raised McDonald's (NYSE:MCD)</a> price target to $320 from $315 and maintained a Buy rating, highlighting its digital momentum, exemplified by the successful Cardi B Meal launch and a surge in active rewards members.</p> <p>Digital sales in Q4 accounted for more than 35% of the top 6 markets' system sales, with 40% from the U.S. and 90% from China. Jefferies anticipates continued digital mix growth driven by a robust mobile app experience and expanding MyMcDonald's Rewards program, with 50 million active members, including 28 million in the U.S.</p> <p>Meanwhile, Loop Capital said U.S. franchisee checks suggest that McDonald's same-store sales growth slightly exceeded consensus expectations in Q1, reiterating its Buy rating and $328 price target.</p>

NYSE:MCD

https://financialmodelingprep.com/market-news/fmp-mcdonalds-price-target-raised-on-digital-momentum

Davit Kirakosyan

Financial Modeling Prep

Creator Economy is $250 Billion & Will Grow to $480 Billion by 2027

2023-04-11 20:01:00

<p>Goldman Sachs predicts the creator economy is worth $250B and could grow at 14% CAGR from 2022-2027, reaching $480B by 2027. The firm mentioned 3 primary vehicles for monetization, such as (1) ad revenue sharing, like YouTube's Partner Program, (2) brand-direct deals, like <a href='https://financialmodelingprep.com/financial-summary/META'>Meta Platforms' (NASDAQ: META)</a> Creator Marketplace, and (3) audience-directed monetization, such as tipping and gifting features.</p> <p>Goldman estimates Instagram Reels' revenue to grow at 63% CAGR from 2022 to 2027, reaching $20.5 billion in 2027. YouTube Shorts is expected to generate $750 million in 2023 and achieve a 98% CAGR from 2023 to 2027, reaching $11.6 billion in 2027.</p>

NASDAQ:, META

https://financialmodelingprep.com/market-news/fmp-creator-economy-is-$250-billion-&-will-grow-to-$480-billion-by-2027

Davit Kirakosyan

Financial Modeling Prep

Lumentum Shares Plunge 9% on Preliminary Q3 Revenue Miss

2023-04-10 21:29:00

<p>Shares of <a href='https://financialmodelingprep.com/financial-summary/LITE'>Lumentum (NASDAQ:LITE)</a> shares dropped more than 9% after the company reported its preliminary Q3 results, which came in worse than the Street estimates.</p> <p>The company expects Q3 net revenue in the range of $380-$384 million, compared to the Street estimate of $444.1 million.</p> <p>This was primarily due to the fact that late in the quarter, a network equipment manufacturer, which represents around 10% of total quarterly revenue, canceled shipments that were originally projected for the quarter. </p> <p>The company’s board of directors approved an increase in its share repurchase authorization to a total of $1.2 billion from the previous $1 billion.</p>

NASDAQ:LITE

https://financialmodelingprep.com/market-news/fmp-lumentum-shares-plunge-9-on-preliminary-q3-revenue-miss

Davit Kirakosyan

Financial Modeling Prep

Analysts Positive on FedEx Following DRIVE Event

2023-04-10 21:24:00

<p>Following <a href='https://financialmodelingprep.com/financial-summary/FDX'>FedEx Corporation's (NYSE:FDX)</a> DRIVE event in New York, several sell-side analysts upgraded the stock and increased their price targets. They argue that the event has provided greater visibility into transformational changes aimed at enhancing profitability and expanding margins. Raymond James upgraded FedEx to Outperform from Market Perform, citing expected improvements in margins, earnings, and free cash flow in the future. </p> <p>The firm believes that FedEx's focus on integrating its primary Express & Ground offering, reducing costs, enhancing capital allocation scrutiny, and implementing a more shareholder-friendly capital return program will drive improved shareholder returns over time. </p> <p>Meanwhile, Citi raised the price target on the stock to $285 from $275, noting that "one FedEx checks many boxes" and that the company delivered more than enough to attract new investors.</p>

NYSE:FDX

https://financialmodelingprep.com/market-news/fmp-analysts-positive-on-fedex-following-drive-event

Davit Kirakosyan

Financial Modeling Prep

Pure Storage Upgraded to Outperform at Wedbush

2023-04-10 21:20:00

<p>Wedbush upgraded <a href='https://financialmodelingprep.com/financial-summary/PSTG'>Pure Storage (NYSE:PSTG)</a> to Outperform from Neutral with a price target of $34.00, noting that the company continues to provide top-notch products as evidenced by its margins.</p> <p>The firm further stated that the guidance provided by the management significantly reduces the risk associated with the outlook for the company, considering the prevailing macroeconomic weakness.</p> <p>The company reported its Q4/23 last month, with EPS coming in at $0.53, beating the Street estimate of $0.38, while revenue of $810.2 million was below the Street estimate of $811.73 million.</p>

NYSE:PSTG

https://financialmodelingprep.com/market-news/fmp-pure-storage-upgraded-to-outperform-at-wedbush

Davit Kirakosyan

Financial Modeling Prep

Coinbase to Return to Positive Adjusted EBITDA in Q1/23

2023-04-07 14:10:00

<p>After a tough last year, when <a href='https://financialmodelingprep.com/financial-summary/COIN'>Coinbase Global, Inc. (NASDAQ:COIN)</a> turned from generating $4.1 billion of adjusted EBITDA in 2021 to a loss of $371 million in 2022, Oppenheimer analysts believe the company will likely return to positive adjusted EBITDA in Q1/23. </p> <p>While not material at their $34 million view (vs. Street’s $9 million estimate), the analysts think it is an important milestone for two reasons: (1) there is still a strong impression Coinbase is not profitable, and (2) the move to positive adjusted EBITDA demonstrates that it can manage operating expense to march toward long-term profitability. </p> <p>The analyst also highlighted the company’s strong balance sheet, with $4.4 billion cash, $861 million USDC, and $212 million custodial account overfunding ($5.5 billion total). It has no urgency to repay or refinance its debt in the near term. Even if conservatively assuming a cash burn of $1 billion annually, available resources can still cover the operation for six-plus years.</p>

NASDAQ:COIN

https://financialmodelingprep.com/market-news/fmp-coinbase-to-return-to-positive-adjusted-ebitda-in-q123

Davit Kirakosyan

Financial Modeling Prep

Jefferies Financial’s Review Following Q1 Earnings Announcement

2023-04-07 14:08:00

<p><a href='https://financialmodelingprep.com/financial-summary/JEF'>Jefferies Financial Group (NYSE:JEF)</a> released its Q1 earnings last week, reporting an EPS of $0.54, which came in better than the Street estimate of $0.48. Revenue was $1.28 billion, compared to the Street estimate of $1.14 billion.</p> <p>The results were coupled with a higher-than-expected comp rate but the net of the two still drove a bottom-line beat. According to the analysts at Oppenheimer, this is not alarming as the generally higher-margined DCM and ECM activity are especially challenged in this environment, though advisory fared slightly better than expected versus Dealogic estimates. </p> <p>This is likely attributable to more opaque private markets or restructuring activity contributions, but the company's larger share of activity driven by high yield and its JVs' exposure to leverages loans (JFIN) and commercial real estate (Berkadia) are all facing headwinds across the board.</p>

NYSE:JEF

https://financialmodelingprep.com/market-news/fmp-jefferies-financial’s-review-following-q1-earnings-announcement-

Davit Kirakosyan

Financial Modeling Prep

Simulations Plus Reports Q2 Earnings, Provides Guidance

2023-04-07 14:05:00

<p><a href='https://financialmodelingprep.com/financial-summary/SLP'>Simulations Plus (NASDAQ:SLP)</a> reported its Q2 results on Wednesday, with EPS coming in at $0.20, better than the Street estimate of $0.18. Revenue was $15.8 million, slightly missing the Street estimate of $16.15 million.</p> <p>According to the analysts at Oppenheimer, they are encouraged by management's confidence in growth. On the services segment, they're pleased with the continued momentum as well as the expanding opportunities. </p> <p>Importantly, the company reaffirmed its confidence in its 2023 guidance, expecting EPS of $0.63-$0.67, compared to the Street estimate of $0.65. Revenue is seen at $59.3-62 million, compared to the Street estimate of $60.8 million. The analyst mentioned they would be buyers on any potential weakness around the slight top-line miss.</p>

NASDAQ:SLP

https://financialmodelingprep.com/market-news/fmp-simulations-plus-reports-q2-earnings-provides-guidance-

Davit Kirakosyan

Financial Modeling Prep

Microsoft’s Price Target Raised on Long-term GPT-AI Tailwinds, Shares Up 2%

2023-04-06 17:13:00

<p>Oppenheimer raised <a href='https://financialmodelingprep.com/financial-summary/MSFT'>Microsoft's (NASDAQ: MSFT)</a> price target to $310 from $280 and maintained its Outperform rating due to long-term GPT-AI tailwinds. According to the analysts, AI tailwinds will result in a 10% incremental boost to Azure's annual growth in fiscal 2025, increasing to 25% in 2026 and 40% in 2027. </p> <p>Additionally, they expect a 20% incremental boost in Office's growth in 2025, rising to 30% in 2026 and 30% in 2027. As a result, the analysts increased their revenue estimates for 2025, 2026, and 2027 by 1%, 4%, and 9%, respectively. </p> <p>Despite potential near-term setbacks from the uncertain economy and the banking sector, the analysts believe that "AI technologies are catalyzing the next platform shift, with Microsoft in the lead." Shares gained more than 2% today.</p>

NASDAQ:, MSFT

https://financialmodelingprep.com/market-news/fmp-microsoft’s-price-target-raised-on-long-term-gpt-ai-tailwinds-shares-up-2

Davit Kirakosyan

Financial Modeling Prep

IBM Expected to Outperform in Tough Economic Conditions

2023-04-06 17:10:00

<p>BofA Securities reiterated its Buy rating and $152.00 price target on <a href='https://financialmodelingprep.com/financial-summary/IBM'>IBM (NYSE:IBM)</a>, anticipating the company’s shares to outperform during tough economic conditions, driven by its improving financial performance. </p> <p>The analysts emphasized IBM's revenue growth and free cash flow improvement, defensive portfolio, which is expected to help the company perform well during a recession, as well as its attractive dividend yield. </p> <p>The company will report its Q1/23 earnings results on April 19, with Wall Street analysts expecting EPS of $1.26 and revenue of $14.36 billion.</p>

NYSE:IBM

https://financialmodelingprep.com/market-news/fmp-ibm-expected-to-outperform-in-tough-economic-conditions-

Davit Kirakosyan

Financial Modeling Prep

Caesars Entertainment Investor Meeting Takeaways

2023-04-06 17:08:00

<p>Deutsche Bank provided its key takeaways from Investor Meeting with <a href='https://financialmodelingprep.com/financial-summary/CZR'>Caesars Entertainment, Inc. (NASDAQ:CZR)</a> management, including CEO Tom Reeg. The analysts found the tone of the meetings to be largely balanced and consistent, with strategic priorities focused on (1) continued debt/leverage reduction, (2) operational prudence, and (3) Digital execution.</p> <p>On the digital strategy, management outlined the path to $500 million in annual EBITDA with margins in the mid-20% range helped by rolling off uneconomical partnerships and driving higher hold. The company expects its digital sports betting to be 55% of the run rate EBITDA, with iCasino making up the balance, though with higher margins (over 30%).</p> <p>According to the analysts, another positive driver is the debt-to-equity conversion path given its lease structures. They estimate that the company will exit 2024 with approximately 4.9x debt to adjusted EBITDA leverage. The analysts reiterated their Buy rating and $70 price target on the stock.</p>

NASDAQ:CZR

https://financialmodelingprep.com/market-news/fmp-caesars-entertainment-investor-meeting-takeaways-

Davit Kirakosyan

Financial Modeling Prep

Wells Fargo Shares Gain 3% on Raymond James Upgrade

2023-04-06 14:51:00

<p>Raymond James upgraded <a href='https://financialmodelingprep.com/financial-summary/WFC'>Wells Fargo (NYSE:WFC)</a> to Strong Buy from Outperform, citing its potential to benefit significantly from the changing financial landscape resulting from the fallout of SVB Financial Group and Signature Bank. As a result, Wells Fargo shares gained more than 3% intra-day today.</p> <p>According to the analysts, Wells Fargo is likely to attract uninsured depositors fleeing to larger and safer institutions, leading to incremental growth in its deposit base. </p> <p>Additionally, the analysts believe that the removal of consent orders and associated regulatory expenses, which amount to billions of dollars annually, could result in greater EPS growth potential for Wells Fargo in the intermediate term. The analysts find the current valuation to be a favorable opportunity to invest, with shares trading just a little above the tangible book value.</p>

NYSE:WFC

https://financialmodelingprep.com/market-news/fmp-wells-fargo-shares-gain-3-on-raymond-james-upgrade

Davit Kirakosyan

Financial Modeling Prep

Costco Shares Drop on Weak March Sales

2023-04-06 14:48:00

<p><a href='https://financialmodelingprep.com/financial-summary/COST'>Costco Wholesale (NASDAQ:COST)</a> shares were trading more than 4% lower intra-day today after the company reported net sales of $21.71 billion for the retail month of March, which represents an increase of just 0.5% from a year-ago period.</p> <p>Comparable sales were down 1.1%. This decline was partly due to a decrease in gasoline prices, but even after taking that into account, comparable sales did not keep up with inflation, only increasing by 2.6% over the year. In contrast, consumer prices had risen by 6% in March. </p> <p>The U.S. saw a significant slowdown in sales, with an increase of only 0.9% from the previous year. However, sales in Canada went up by 7.4%, and sales in other parts of the world increased by 7.6%.</p>

NASDAQ:COST

https://financialmodelingprep.com/market-news/fmp-costco-shares-drop-on-weak-march-sales

Davit Kirakosyan

Financial Modeling Prep

Polestar deliveres 12,000 EVs in Q1, Up 26%

2023-04-06 14:46:00

<p><a href='https://financialmodelingprep.com/financial-summary/PSNY'>Polestar (NASDAQ:PSNY)</a> released its global volumes for Q1/2023 today, delivering around 12,000 vehicles, which represents nearly 26% year-on-year increase.</p> <p>Due to the typical seasonal impact on deliveries during Q1, Polestar expects that the global volume of their cars in 2023 will rise by approximately 60% compared to the previous year, reaching around 80,000 vehicles. This growth will mainly be driven by the sales of the Polestar 2. Polestar's lease volume rose 3-4% in mid-March, thanks to a competitive 36-month lease offer with the commercial clean tax credit. </p>

NASDAQ:PSNY

https://financialmodelingprep.com/market-news/fmp-polestar-deliveres-12000-evs-in-q1-up-26

Davit Kirakosyan

Financial Modeling Prep

Meta Platforms Upgraded at Argus, Profits Should Boost on Cost Cuts

2023-04-05 21:36:00

<p>Argus analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/META'>Meta Platforms Inc. (NASDAQ:META)</a> to Buy from Hold with a price target of $270.00. The analysts expressed confidence that the significant cost reductions made by the social media giant would enhance profitability, even amid economic uncertainty. Furthermore, the intensifying competition in the social media industry, particularly from TikTok, appears to be subsiding.</p> <p>Argus raised its GAAP EPS estimates to $8.21 from $7.53 for 2023 and to $9.43 from $8.06 for 2024. According to the analyst, Meta is implementing some of the most substantial cost reductions in the technology industry. Meta's revenue challenges are linked to macroeconomic uncertainty, the decline in digital advertising, and Apple's ad tracking policy, and thus, the cost reductions will not do much for the company’s revenues issues, but the analysts believe that it displays management's prudence and are anticipated to enhance profitability, which should satisfy market demands.</p>

NASDAQ:META

https://financialmodelingprep.com/market-news/fmp-meta-platforms-upgraded-at-argus-profits-should-boost-on-cost-cuts

Davit Kirakosyan

Financial Modeling Prep

ZoomInfo Technologies May Reduce its 2023 Revenue Growth Guidance

2023-04-05 21:33:00

<p>BofA Securities lowered its price target on <a href='https://financialmodelingprep.com/financial-summary/ZI'>ZoomInfo Technologies (NASDAQ:ZI)</a> to $30.00 from $32.00 while maintaining a Neutral rating, noting it believes there is a risk to the revenue growth guidance of 16-17% for 2023.</p> <p>The recent software and technology layoffs, along with potential constraints on financial services tech spend, may lead to a reduction in guidance during the upcoming Q1/23 earnings call, according to BofA Securities. Despite this, analysts believe that the software company can generate significant free cash flow, which could help support its valuation.</p> <p>The analysts view ZoomInfo’s stock's risk-reward as balanced given ongoing technology sector layoffs and disruption in financial services.</p>

NASDAQ:ZI

https://financialmodelingprep.com/market-news/fmp-zoominfo-technologies-may-reduce-its-2023-revenue-growth-guidance-

Davit Kirakosyan

Financial Modeling Prep

What to Expect From CarMax’s Upcoming Q4 Earnings Results?

2023-04-05 21:31:00

<p>The analysts at RBC Capital gave their perspective on <a href='https://financialmodelingprep.com/financial-summary/KMX'>CarMax, Inc. (NYSE:KMX)</a> before its Q4/23 which is scheduled for April 11. They have observed that the company's revenue trends appear to be slightly better than what the Street estimates suggest.</p> <p>According to the analysts, industry data/checks point to a modest rebound in retail price and unit trends throughout the quarter. While this could result in a modest upside compared to the Street expectations, the analysts noted that it is unlikely to have a material impact on investor sentiment as the broader economic backdrop remains challenging. </p> <p>The analysts estimate Q4 used units to be down 5% year-over-year, putting used unit sales at 187,000 (vs. Street estimate of 174,100). The analysts remain cautious near term given the uncertain macro backdrop but continue to believe the company is well-positioned to gain share/emerge from a downturn stronger.</p>

NYSE:KMX

https://financialmodelingprep.com/market-news/fmp-what-to-expect-from-carmax’s-upcoming-q4-earnings-results?

Davit Kirakosyan

Financial Modeling Prep

Wyndham Hotels & Resorts Shares Underperformance is Overdone

2023-04-05 20:50:00

<p>Deutsche Bank analysts started coverage on <a href='https://financialmodelingprep.com/financial-summary/WH'>Wyndham Hotels & Resorts, Inc. (NYSE:WH)</a> with a Buy rating and a price target of $79, noting it believes the recent underperformance in shares is overdone and primarily related to regional banking concerns on funding availability for development/unit growth. </p> <p>According to the analysts, this underperformance offers investors an entry point, adding that it believes fears over the net unit growth outlook and pipeline are exaggerated. At present, the Wyndham pipeline is the healthiest it has ever been, up 13% year-over-year, which, the analysts believe, should drive accelerating net unit growth moving forward. </p> <p>In addition, the analysts view the company’s select service chain scale exposure as more defensive in a downturn, relative to full service, with select service RevPAR outperforming by approximately 840 basis points on average, over the last three downturns.</p>

NYSE:WH

https://financialmodelingprep.com/market-news/fmp-wyndham-hotels-&-resorts-shares-underperformance-is-overdone

Davit Kirakosyan

Financial Modeling Prep

Albertsons Companies’ Upcoming Q4 Earnings Preview

2023-04-05 20:48:00

<p>RBC Capital analysts provided a review of <a href='https://financialmodelingprep.com/financial-summary/ACI'>Albertsons Companies, Inc. (NYSE:ACI)</a> ahead of the upcoming Q4/23 earnings report on April 11.</p> <p>According to the analysts, food channel dollar sales throughout the company’s regions grew approximately 6% in Q4 (vs. Street estimate of 4.6%) and are trending in the low 5's% in the first four weeks of Q1 (vs. Street’s estimate of 3.1%), both led by low-to-mid teens pricing.</p> <p>On March 28, RBC Capital hosted an expert speaker call with Numerator's Chief Economist, Dr. Leo Feler, to provide perspective on the FTC’s process, next steps, and likely deal outcomes. The analysts’ perspective was mostly confirmed, which indicated that in order to obtain clearance, ACI/KR would need to sell off approximately 650 stores.</p> <p>The analysts expect FTC to file a lawsuit in the coming months, recommending the merger be blocked.</p>

NYSE:ACI

https://financialmodelingprep.com/market-news/fmp-albertsons-companies’-upcoming-q4-earnings-preview

Davit Kirakosyan

Financial Modeling Prep

PPG Industries’ Shares Up 5% on Updated Guidance Announcement

2023-04-04 18:23:00

<p><a href='https://financialmodelingprep.com/financial-summary/PPG'>PPG Industries (NYSE:PPG)</a> announced this morning that it expects Q1/23 adjusted EPS to be in the range of $1.52-$1.58, exceeding previous guidance of $1.10-$1.20. As a result, shares surged nearly 5% yesterday.</p> <p>Margin recovery accelerated in Q1, driven by higher sales volumes and additional selling price capture, led by aerospace and automotive OEM coatings businesses. The company noted higher year-over-year earnings were seen across most of the portfolio, including Europe, and volumes were better in China due to fewer pandemic disruptions than originally expected. </p> <p>Analysts at RBC Capital raised their 2023/2024 estimates following the updated guidance and raised their price target to $143 from $133, while maintaining their Sector Perform rating.</p>

NYSE:PPG

https://financialmodelingprep.com/market-news/fmp-ppg-industries’-shares-up-5-on-updated-guidance-announcement--

Davit Kirakosyan

Financial Modeling Prep

What to Expect From Aramark’s Upcoming Q2/23 Earnings Results?

2023-04-04 18:21:00

<p>RBC Capital provided its outlook on <a href='https://financialmodelingprep.com/financial-summary/ARMK'>Aramark (NYSE:ARMK)</a> ahead of the upcoming Q2/23 earnings report on May 9, expecting in-line quarterly revenue with the sustained new business win, return to the office and pricing tailwinds. </p> <p>The analysts estimate Q2 revenue of $4.41 billion, AOI of $200 million (4.5% margin), slightly below the consensus of $208 million (4.7% margin), and EPS of $0.24, in line with the Street estimate of $0.24. </p> <p>Positively, food inflation (food PPI) has started to roll over, which along with pricing increases, bodes well for margin expansion going forward. The analysts expect the company to reiterate its 2023 guidance and provide an update on the progress on the spin-off of the Uniform business expected by the end of 2023.</p>

NYSE:ARMK

https://financialmodelingprep.com/market-news/fmp-what-to-expect-from-aramark’s-upcoming-q223-earnings-results?

Davit Kirakosyan

Financial Modeling Prep

ServiceNow Upgraded to Outperform, Shares Up 2%

2023-04-04 18:19:00

<p><a href='https://financialmodelingprep.com/financial-summary/NOW'>ServiceNow (NYSE: NOW)</a> shares closed more than 2% higher today after Baird upgraded the company to Outperform from Neutral and raised its price target to $548.00 from $475.00. </p> <p>The analysts believe the company is well positioned for a tough macro environment and that its revenue growth is likely to remain durable and resilient despite the uncertainties in the current macro environment, such as elongated sales cycles and increased deal scrutiny. </p> <p>The upgrade is based on the company's end-market resiliency, durable growth trends, and reasonable valuation. The analysts are of the opinion that ServiceNow's 2023 guidance has been carefully considered with regard to the current macro environment and they also believe that the company's deals are less subject to discretion.</p>

NYSE:, NOW

https://financialmodelingprep.com/market-news/fmp-servicenow-upgraded-to-outperform-shares-up-2

Davit Kirakosyan

Financial Modeling Prep

MSCI’s Upcoming Q1/23 Earnings Preview

2023-04-04 18:17:00

<p>RBC Capital reported a preview on <a href='https://financialmodelingprep.com/financial-summary/MSCI'>MSCI Inc. (NYSE:MSCI)</a> ahead of the company’s upcoming Q1/23 earnings report on April 25, expecting an inline quarter driven by low double-digit organic subscription run rate growth, partially offset by the 7% decline in ABF. </p> <p>In addition, the analysts expect retention of approximately 94%, a 100bps quarter-over-quarter seasonal improvement but down 200bps year-over-year given elevated levels in 2021/2022. Given the tough comps and macro uncertainty, the analysts expect net new recurring subscription sales to be down low-to-mid teens, similar to a 13% year-over-year decline in Q4/22. </p> <p>The analysts expect the company to reiterate 2023 adjusted EBITDA expense and free cash flow guidance but likely strike a cautious tone for the year as macro nervousness gains more centerstage following recent banking-related events.</p>

NYSE:MSCI

https://financialmodelingprep.com/market-news/fmp-msci’s-upcoming-q123-earnings-preview

Davit Kirakosyan

Financial Modeling Prep

Etsy Upgraded at Piper Sandler as Active Buyer Growth is Expected to Reaccelerate

2023-04-04 11:21:00

<p><a href='https://financialmodelingprep.com/financial-summary/ETSY'>Etsy (NASDAQ:ETSY)</a> stock received an upgrade from Piper Sandler, who raised it to Overweight from Neutral and increased its price target to $140 from $135. This upgrade resulted in more than 3% gain intra-day today. </p> <p>According to Piper Sandler, the company's active buyer growth is expected to "reaccelerate over the medium-term, powering continued share gains." Piper's 45th survey on Generation Z showed that Etsy is among the preferred websites for this particular group.</p> <p>The firm believes that the core marketplace strengths of sustainability, intention, and personalization align well with the core values of Gen Z and millennials. With over 150 million SKUs and a significant focus on personalization, Etsy differentiates itself from other retailers and marketplaces. The firm also noted that Etsy has made significant progress in reactivating its 100 million lapsed buyers, which is expected to drive stronger active buyer results in the coming quarters.</p>

NASDAQ:ETSY

https://financialmodelingprep.com/market-news/fmp-etsy-upgraded-at-piper-sandler-as-active-buyer-growth-is-expected-to-reaccelerate

Davit Kirakosyan

Financial Modeling Prep

PVH’s Price Target Raised at UBS on Brand Strength & Balance Sheet

2023-04-04 11:18:00

<p>UBS expressed optimism about <a href='https://financialmodelingprep.com/financial-summary/PVH'>PVH (NYSE:PVH)</a>, stating that despite facing several macro challenges, the company has the potential to achieve long-term earnings growth due to its strong brand and healthy balance sheet. UBS has raised its price target for PVH from $92 to $115 and maintained its Buy rating. </p> <p>The firm anticipates a 5-year EPS CAGR of over 15%, and credits CEO Stefan Larsson's plan to enhance PVH's profitability. The analyst suggests that PVH's efforts to enhance its brands, product assortment, direct-to-consumer sales, inventory management, speed-to-market, and cost efficiencies are proving successful and could result in significantly higher financial benefits than previously anticipated.</p>

NYSE:PVH

https://financialmodelingprep.com/market-news/fmp-pvh’s-price-target-raised-at-ubs-on-brand-strength-&-balance-sheet-

Davit Kirakosyan

Financial Modeling Prep

Tesla Shares Drop 6% Following Q1 Deliveries Announcement

2023-04-03 17:26:00

<p><a href='https://financialmodelingprep.com/financial-summary/TSLA'>Tesla (NASDAQ:TSLA)</a> shares plunged more than 6% today, following the company's announcement of first-quarter delivery figures that fell short of CEO Elon Musk's ambitious targets. </p> <p>While Tesla set a record by delivering 422,875 vehicles in Q1/23, which represented a 4% increase from the previous quarter and a 36% increase from Q1/22, it was still far from Musk's goal of delivering 2 million vehicles this year, which would require growth of over 50%.</p> <p>Furthermore, Tesla is facing mounting competition, particularly in China, the largest market for electric vehicles. Despite reducing prices by up to 20% in January in response to slow demand, Tesla is struggling to compete with rivals in this increasingly crowded market. In addition, the company's core customer base, which includes high-paying sectors such as technology and finance, has been impacted by inflation and layoffs, making affordability a pressing issue for Tesla in recent months.</p>

NASDAQ:TSLA

https://financialmodelingprep.com/market-news/fmp-tesla-shares-drop-6-following-q1-deliveries-announcement-

Davit Kirakosyan

Financial Modeling Prep

WWE to be Acquired by UFC’s Parent in a $9.3 Billion Deal

2023-04-03 17:24:00

<p>Vince McMahon's <a href='https://financialmodelingprep.com/financial-summary/WWE'>WWE (NYSE:WWE)</a> has confirmed its sale to <a href='https://financialmodelingprep.com/financial-summary/EDR'>Endeavour Group (NYSE:EDR)</a> after advanced talks between the two were reported by several media outlets. The deal involves a merger with EDR's UFC, resulting in the formation of a new publicly-traded company, with EDR holding a controlling 51% stake and WWE owning 49%. </p> <p>Endeavor CEO, Ariel Emanuel, will lead the new company as CEO, while McMahon will serve as executive chairman. </p> <p>The deal values WWE at an enterprise value of $9.3 billion and a market value of $6.79 billion. The new company is expected to generate annualized run-rate cost synergies of $50-100 million.</p>

NYSE:WWE

https://financialmodelingprep.com/market-news/fmp-wwe-to-be-acquired-by-ufc’s-parent-in-a-$93-billion-deal

Davit Kirakosyan

Financial Modeling Prep

What to Expect From Conagra Brands’ Q3 Results on Wednesday?

2023-04-03 17:20:00

<p>RBC Capital analysts provided their perspective on <a href='https://financialmodelingprep.com/financial-summary/CAG'>Conagra Brands (NYSE:CAG)</a> in anticipation of the Q3 earnings announcement on Wednesday. They mentioned that the company's demand patterns are stable but less dynamic, with reduced elasticities, which is comparable to other packaged food companies.</p> <p>The analysts expect Q3 organic sales growth of 5.8% (vs. Street estimate of 6.9%) and EPS of $0.63 (vs. Street’s $0.64).</p> <p>As a reminder, the company confirmed fiscal 2023 guidance in late February. Overall, the analysts expect another pricing-driven quarter with volumes remaining in focus given the company’s more muted trends in tracked channels but acknowledge some noise in tracked channels (coming off allocation and supply chain disruptions a year ago).</p>

NYSE:CAG

https://financialmodelingprep.com/market-news/fmp-what-to-expect-from-conagra-brands’-q3-results-on-wednesday?-

Davit Kirakosyan

Financial Modeling Prep

Core & Main’s Price Target Raised Following Q1 Results

2023-04-03 17:12:00

<p><a href='https://financialmodelingprep.com/financial-summary/CNM'>Core & Main, Inc (NYSE:CNM)</a> reported its Q1 results last week, with EPS of $0.31 coming in slightly worse than the Street estimate of $0.32. Revenue of $1.37 billion was in line with expectations. Shares have gained more than 7% since then.</p> <p>According to Deutsche Bank analysts, pricing grew in low-double-digit percentage, and along with an M&A benefit, more than offset a 5% volume decline against a difficult prior year comp.</p> <p>Price outperformance again drove stronger gross margins than anticipated, although the company continues to expect 100-150bps of benefit to prove temporary as higher-cost inventory flows through and aligns with current pricing. </p> <p>With a leveling off of pricing largely complete by now, the analysts do expect to see the gross margin reset begin to flow through most prominently starting in Q2 and into Q3. The analysts raised their price target to $42 from $40 while maintaining their Buy rating.</p>

NYSE:CNM

https://financialmodelingprep.com/market-news/fmp-core-&-main’s-price-target-raised-following-q1-results

Davit Kirakosyan

Financial Modeling Prep

Micron Shares Drop 4% on China’s Cyberspace Administration Announcement

2023-04-02 18:05:00

<p><a href='https://financialmodelingprep.com/financial-summary/MU'>Micron Technology (NASDAQ:MU)</a> shares fell more than 4% on Friday, following an announcement by China’s Cyberspace Administration that it will conduct a cybersecurity review of Micron’s products sold in China. </p> <p>The purpose of the review is to safeguard the security of China's key information infrastructure supply chain, prevent potential network security risks caused by undisclosed product problems, and maintain national security. </p> <p>Last year, Micron announced plans to close its DRAM design operations in Shanghai and relocate them to the U.S. or India, citing concerns over government-backed competition in China. In its report for the year 2021, Micron voiced worries about the rising competition it is confronting due to substantial investments made by the Chinese government and state-owned or related organizations in the semiconductor industry. These investments are aimed at advancing China's national policy objectives, thereby causing concern for Micron.</p>

NASDAQ:MU

https://financialmodelingprep.com/market-news/fmp-micron-shares-drop-4-on-china’s-cyberspace-administration-announcement-

Davit Kirakosyan

Financial Modeling Prep

Generac Shares Down 3% on BofA Downgrade

2023-04-02 18:00:00

<p><a href='https://financialmodelingprep.com/financial-summary/GNRC'>Generac (NASDAQ:GNRC)</a> shares dropped more than 3% on Friday after BofA Securities downgraded the stock from Neutral to Underperform. The new price target is $91 per share, a decrease from the previous $141. The analysts cited several concerns, including deteriorating fundamentals and sustained macro pressures, that adversely affect the risk-reward balance.</p> <p>The main reasons for a more negative outlook are the weakened consumer and unique operational difficulties. Despite the argument from investors that management "kitchen sinked" expectations, the analysts flag aggressive guidance, lofty consensus estimates (2023 EBITDA of $630 million), and the risk of further multiple compression.</p> <p>The analysts require "quantitative signs of execution" before acknowledging management's "lofty recovery," which is already included in the guidance. </p>

NASDAQ:GNRC

https://financialmodelingprep.com/market-news/fmp-generac-shares-down-3-on-bofa-downgrade

Davit Kirakosyan

Financial Modeling Prep

Tesla Shares May Fall as it Struggles to Meet Expectations

2023-04-02 09:01:00

<p>Bernstein maintained an Underperform rating on <a href='https://financialmodelingprep.com/financial-summary/TSLA'>Tesla (NASDAQ:TSLA)</a> and a $150 per share price target, which suggests a potential downside risk of about 27% compared to the stock's closing price on Friday. </p> <p>The focus of Bernstein's research was on the Chinese electric vehicle (EV) market, noting Tesla's market share in China decreased from 22% in 2020 to 12% in 2022 due to intense competition. </p> <p>The analysts believe that competition in China will only increase in the future, and forecast that Tesla will deliver 525,000 to 560,000 units in China this year, despite significant price cuts. </p> <p>The survey also showed that Tesla's brand remains strong in China but is increasingly polarizing and may be less appealing to customers beyond Tesla's existing customer base. Furthermore, the analysts also argue that Tesla will struggle to meet expectations beyond this year until it can launch a low-cost platform, which may come with lower margins.</p>

NASDAQ:TSLA

https://financialmodelingprep.com/market-news/fmp-tesla-shares-may-fall-as-it-struggles-to-meet-expectations

Davit Kirakosyan

Financial Modeling Prep

Match Group’s Review By Oppenheimer

2023-04-02 08:58:00

<p>Oppenheimer analysts provided a review on <a href='https://financialmodelingprep.com/financial-summary/MTCH'>Match Group, Inc. (NASDAQ:MTCH)</a>, reiterating the Perform rating as they expect lower near-term Tinder payers post-price increase. In addition, the revenue effects of this will be delayed since it will only affect new payers.</p> <p>The analysts now assume a Q1/Q2 Tinder payer net loss of 134,000/43,000 (vs. Street estimate of -96,000/+250,000). Meanwhile, International pricing "optimization" may result in lower prices in some regions, similar to recent Netflix changes, partially offsetting price increases. </p> <p>In the short run, analysts perceive a risk of execution as Tinder moves towards a premium model by raising subscription fees and investing more in marketing.</p> <p>The analysts noted that overall web traffic to dating sites continues to show weakness in both EMEA and US, suggesting economic impacts or a maturing market.</p>

NASDAQ:MTCH

https://financialmodelingprep.com/market-news/fmp-match-group’s-review-by-oppenheimer

Davit Kirakosyan

Financial Modeling Prep

BlackBerry Shares Jump 14% on Q4 EPS Beat & Solid Outlook

2023-03-31 11:46:00

<p><a href='https://financialmodelingprep.com/financial-summary/BB'>BlackBerry (NYSE:BB)</a> shares gained more than 14% intra-day today after the company reported its Q4 results, with EPS of ($0.02) coming in better than the Street estimate of ($0.08). Revenue was $151 million, compared to the Street estimate of $163.52 million.</p> <p>The company’s outlook implies 2024 total revenue in the range of $685-$720 million (up 7% year-over-year at the midpoint), above the Street estimate of $692 million. The upside stems primarily from residual IP licensing revenue and stronger IoT revenue.</p> <p>However, according to RBC Capital analysts, the market will discount 2024 guidance pending a turnaround in billings and other key metrics, given the company’s challenges over the last several years.</p>

NYSE:BB

https://financialmodelingprep.com/market-news/fmp-blackberry-shares-jump-14-on-q4-eps-beat-&-solid-outlook

Davit Kirakosyan

Financial Modeling Prep

agilon health Shares Drop 13% After Investor Day

2023-03-31 11:43:00

<p><a href='https://financialmodelingprep.com/financial-summary/AGL'>agilon health Inc (NYSE:AGL)</a> shares fell nearly 13% yesterday after the company’s investor day. Management raised its 2026 EBITDA outlook, as well as painted a clearer path to achieving those targets.</p> <p>The company elevated its base case to over $600 million (vs previous $580 million) –driven by a steeper ramp in MA members and continued positive progression in medical margins – despite also dampening its long-term expected contributions from ACO REACH and Hawaii. </p> <p>While encouraging, the analysts at RBC Capital believe yesterday’s stock drop relates to (1) the optics of the 2026 update being softer than what some investors were expecting, and (2) with shares previously approaching $30, the expectation of another secondary following the event.</p>

NYSE:AGL

https://financialmodelingprep.com/market-news/fmp-agilon-health-shares-drop-13-after-investor-day

Davit Kirakosyan

Financial Modeling Prep

EVgo Shares Soar 22% After Q4 Earnings Beat

2023-03-31 05:32:00

<p><a href='https://financialmodelingprep.com/financial-summary/EVGO'>EVgo (NASDAQ:EVGO)</a> saw a surge of over 22% in shares yesterday following its Q4 results announcement. The company reported an EPS of ($0.06), which surpassed the Street estimate of ($0.18). Moreover, revenue witnessed a 283% year-over-year growth, standing at $27.3 million, exceeding the Street estimate of $19.86 million. </p> <p>For the full year 2023, management projects revenue between $105 million to $150 million, whereas the Street estimate stands at $153 million. Adjusted EBITDA is anticipated to be between ($78 million) and ($60 million). In addition, the company has set a target to have around 3,400 to 4,000 DC fast-charging stalls in operation or being constructed by the end of this year.</p>

NASDAQ:EVGO

https://financialmodelingprep.com/market-news/fmp-evgo-shares-soar-22-after-q4-earnings-beat

Davit Kirakosyan

Financial Modeling Prep

Walmart Upgraded to Outperform at Evercore

2023-03-31 05:27:00

<p><a href='https://financialmodelingprep.com/financial-summary/WMT'>Walmart (NYSE:WMT)</a> was upgraded from In Line to Outperform by Evercore ISI, with a new price target of $160 (from $145). The firm said the upgrade is due to the potential for traffic and margins to expand over the next two years.</p> <p>According to the firm, the traffic turn appears to be building, which could result in Walmart regaining market share. However, the analyst warned that the upcoming April Investor Day may disappoint, especially if management tries to pressure the Street to their guidance range.</p> <p>Despite this, the analysts like Walmart's scale, balance sheet, and stability, and believe that traffic momentum and margin expansion are likely amidst a decelerating Retail world.</p>

NYSE:WMT

https://financialmodelingprep.com/market-news/fmp-walmart-upgraded-to-outperform-at-evercore

Davit Kirakosyan

Financial Modeling Prep

Roku to Cut its Workforce by 6%

2023-03-30 17:36:00

<p><a href='https://financialmodelingprep.com/financial-summary/ROKU'>Roku (NASDAQ:ROKU)</a> announced that it will reduce its workforce by around 200 jobs or 6% of its total employees. The company's restructuring plan was approved yesterday, with the goal of reducing operating expenses and prioritizing high-return-on-investment projects. As part of the cost-cutting measures, Roku will also be leaving certain office facilities. The company expects to incur charges of $30-35 million, with the majority of the expenses incurred in the first fiscal quarter. </p> <p>Implementation of the headcount reductions and cash payments will be largely completed by the end of Q2 2023. Roku previously announced similar job cuts in November 2022, when it reduced its workforce by 200 jobs.</p>

NASDAQ:ROKU

https://financialmodelingprep.com/market-news/fmp-roku-to-cut-its-workforce-by-6

Davit Kirakosyan

Financial Modeling Prep

Semtech Shares Plunge 21% Following Q4 Earnings Announcement

2023-03-30 17:33:00

<p><a href='https://financialmodelingprep.com/financial-summary/SMTC'>Semtech (NASDAQ:SMTC)</a> shares dropped more than 21% today after the company reported its Q4 results, with EPS of $0.47 coming in worse than the Street estimate of $0.48. Revenue was $167.5 million, compared to the Street estimate of $150.09 million.</p> <p>The company expects Q1/24 EPS to be in the range of ($0.11)-($0.04), worse than the Street estimate of $0.43. Revenue is seen at $230-$240 million, compared to the Street estimate of $148.8 million.</p> <p>It’s important to note, the revenue guidance is split into $135 million and $100 million for SWIR and SMTC, respectively. Standalone Q1 SMTC revenue missed by 32%.</p> <p>Q4 gross margin of 62.3% dropped to 48.5% in Q1 as SWIR’s commodity module business blends into the mix. Gross margin is expected to trend up 100-150bps through the year on synergies.</p>

NASDAQ:SMTC

https://financialmodelingprep.com/market-news/fmp-semtech-shares-plunge-21-following-q4-earnings-announcement-

Davit Kirakosyan

Financial Modeling Prep

Verint Systems Shares Drop 5% on Disappointing Guidance

2023-03-30 17:31:00

<p><a href='https://financialmodelingprep.com/financial-summary/VRNT'>Verint Systems (NASDAQ:VRNT)</a> shares fell nearly 5% today on the company’s disappointing guidance, while Q4 results were solid.</p> <p>Q4 EPS was $0.75, compared to the Street estimate of $0.72. Revenue came in at $236.8 million, compared to the Street estimate of $237.14 million.</p> <p>With the SaaS transition viewed as largely complete at this point with recurring approaching 90% of software revenue, SaaS ARR was introduced as an operating metric, which is likely to become a focus metric.</p> <p>For the full 2024 year, the company expects EPS of $2.65, worse than the Street estimate of $2.71. and revenue of $935 million, compared to the Street estimate of $948 million. SaaS revenue is expected to grow 25%-30% year-over-year.</p>

NASDAQ:VRNT

https://financialmodelingprep.com/market-news/fmp-verint-systems-shares-drop-5-on-disappointing-guidance-

Davit Kirakosyan

Financial Modeling Prep

Chord Energy’s Investor Meeting Takeaways

2023-03-30 17:29:00

<p>RBC Capital analysts provided their key takeaways from Investor Meetings with <a href='https://financialmodelingprep.com/financial-summary/CHRD'>Chord Energy Corporation (NASDAQ:CHRD)</a> CFO Michael Lou. According to the analysts, the focus shift to maximizing returns and free cash flow (FCF) from total oil-in-place recovery provides more visibility to FCF sustainability. There is high confidence in maintaining this output for several years with the improvements seen in its good performance. The analysts said the company has the land position to continue extending lateral lengths and replenish its drilling inventory.</p> <p>At strip commodity prices, the analysts estimate 2023 FCF at $600 million or a 12% FCF yield. The leverage ratio (net debt-to-EBITDA) remains at sub-zero and should stay well below the 0.5x threshold where the company's FCF payout is at least 75%. </p> <p>Management has utilized a fixed dividend (4+%) in addition to buybacks and special dividends. According to the analysts, the robust fixed dividend shows management's confidence in its outlook and there is more room to increase that moving forward. The analysts believe the plan is to be balanced with dividends and buybacks over time.</p>

NASDAQ:CHRD

https://financialmodelingprep.com/market-news/fmp-chord-energy’s-investor-meeting-takeaways-

Davit Kirakosyan

Financial Modeling Prep

RH Shares Drop 6% on Q4 Miss

2023-03-30 04:50:00

<p><a href='https://financialmodelingprep.com/financial-summary/RH'>RH (NYSE:RH)</a> shares were trading nearly 6% lower pre-market today after the company reported Q4 results on Wednesday, falling short of Street estimates due to challenges in the housing market and banking sector. </p> <p>The company reported Q4 EPS of $2.88, missing the Street estimate of $3.33, while revenue of $772 million was roughly in line with the $772.3 million Street estimate. As RH continues to reduce inventories following a pandemic-driven surge, the retailer warned of a challenging backdrop. </p> <p>Management expects fiscal 2023 revenues to be in the range of $2.9-$3.1 billion and forecasts Q1/23 revenues in the range of $720-$735 million with an adjusted operating margin of 13%-14%. Street estimate for Q1 revenue stands at $833 million and at $3.46 billion for 2023 revenue.</p>

NYSE:RH

https://financialmodelingprep.com/market-news/fmp-rh-shares-drop-6-on-q4-miss

Davit Kirakosyan

Financial Modeling Prep

Arcturus Therapeutics Reports Q4 Earnings, Shares Jump 30%

2023-03-30 04:48:00

<p><a href='https://financialmodelingprep.com/financial-summary/ARCT'>Arcturus Therapeutics (NASDAQ:ARCT)</a> saw a 30% surge in its share prices yesterday after reporting Q4 results. The company's revenue for the quarter was $160.3 million, a significant increase from $13.4 million in Q4/22. The boost in revenue was primarily due to the $200 million upfront payment from CSL Seqirus as part of their exclusive global collaboration and license agreement for next-generation mRNA vaccines.</p> <p>Arcturus is eligible for potential development and commercial milestones of up to $4.3 billion, with 40% profit sharing for COVID-19 vaccines and up to low double-digit royalties on influenza vaccine revenues.</p> <p>Joseph Payne, the President and CEO of Arcturus Therapeutics, reported that the Phase 3 study conducted by Meiji Pharma to evaluate ARCT-154 as a booster vaccine for COVID-19 has been fully enrolled ahead of schedule.</p>

NASDAQ:ARCT

https://financialmodelingprep.com/market-news/fmp-arcturus-therapeutics-reports-q4-earnings-shares-jump-30

Davit Kirakosyan

Financial Modeling Prep

Progress Software Shares Fall 5% Despite Q1 Beat

2023-03-29 17:07:00

<p><a href='https://financialmodelingprep.com/financial-summary/PRGS'>Progress Software (NASDAQ:PRGS)</a> shares dropped nearly 5% today despite the company reporting solid Q1 results, beating the Street estimates behind robust demand for its product portfolio and strong cost management.</p> <p>EPS was $1.19, better than the Street estimate of $1.05. Revenue came in at $165.6 million, beating the Street estimate of $151.73 million. The company expects Q2/23 EPS to be in the range of $0.88-$0.92, compared to the Street estimate of $0.99. Revenue is seen at $168-172 million, compared to the Street estimate of $169 million.</p> <p>For the full year, the company expects EPS in the range of $4.09-$4.17, compared to the Street estimate of $4.14. Revenue is seen at $680-688 million, compared to the Street estimate of $679.4 million.</p> <p>According to the analysts at Oppenheimer, the macro environment and tight budget conditions should help sustain demand for the company’s attractively priced product portfolio. The analysts believe management is conservatively accounting for the macro environment in 2023 revenue and operating margin guidance and see the potential for out-performance if demand remains robust, inflation holds steady, and synergies from the MarkLogic acquisition are realized ahead of schedule.</p>

NASDAQ:PRGS

https://financialmodelingprep.com/market-news/fmp-progress-software-shares-fall-5-despite-q1-beat

Davit Kirakosyan

Financial Modeling Prep

The Lovesac Shares Gain 5% on Q4 Revenue Beat & Strong Guidance

2023-03-29 17:04:00

<p><a href='https://financialmodelingprep.com/financial-summary/LOVE'>The Lovesac Company (NASDAQ: LOVE)</a> shares surged more than 5% today after the company reported better-than-expected Q4 revenues and strong guidance.</p> <p>Revenue was $238.8 million, compared to the Street estimate of $217.6 million. EPS came in at $1.74, compared to the Street estimate of $1.96.</p> <p>For 2023, the company expects adjusted EBITDA to track in the range of $55–$66 million, upon sales of $700–$740 million, representing growth of 11% at the midpoint (vs. Street estimate of 6% growth). </p> <p>For Q1, the company expects an adjusted EBITDA loss of $4–$5 million (vs. Street expectations for positive $3 million), upon total net revenue of $133–$136 million (vs. Street estimate of $134 million).</p> <p>Senior leadership was clear to indicate that gross margin trends should improve throughout the year, beginning in Q2 as the company laps meaningfully higher freight expenses in 2022.</p>

NASDAQ:, LOVE

https://financialmodelingprep.com/market-news/fmp-the-lovesac-shares-gain-5-on-q4-revenue-beat-&-strong-guidance

Davit Kirakosyan

Financial Modeling Prep

Core & Main Price Target Raised to $26 at RBC Capital

2023-03-29 17:01:00

<p>RBC Capital analysts raised their price target on <a href='https://financialmodelingprep.com/financial-summary/CNM'>Core & Main, Inc. (NYSE:CNM)</a> to $26 from $24 while reiterating their Outperform rating.</p> <p>The analysts raised their 2023 adjusted EBITDA estimate to $810 million from $779 million, in line with the new $785-$865 million guide, while their 2024 EBITDA estimate rises more meaningfully to $750 million from $621 million. These increases were driven by less severe price decline assumptions as pricing remains sticky at elevated levels for most products even as volume has softened. </p> <p>According to the analysts, the company continues to retain strong pricing and margin as carryover tailwinds flow through H1/23, with gross margin still expected to normalize as 2023 progresses. </p>

NYSE:CNM

https://financialmodelingprep.com/market-news/fmp-core-&-main-price-target-raised-to-$26-at-rbc-capital

Davit Kirakosyan

Financial Modeling Prep

Walgreens Boots Alliance Shares Up 3% Since Q2 Beat Report

2023-03-29 16:59:00

<p><a href='https://financialmodelingprep.com/financial-summary/WBA'>Walgreens Boots Alliance (NASDAQ:WBA)</a> shares rose more than 3% since the company’s reported Q2 results on Tuesday, with EPS of $1.16 beating the Street estimate of $1.10. Revenue came in at $34.9 billion, better than the Street estimate of $33.53 billion.</p> <p>The company has made progress in filling pharmacy positions, which management believes will drive script growth in the back half of the year. US Healthcare's momentum continues with the company expanding its value-based and risk arrangements as it focuses on building density and service offerings in specific markets.</p> <p>The company expects fiscal 2023 EPS to be in the range of $4.45-$4.65, compared to the Street estimate of $4.51.</p>

NASDAQ:WBA

https://financialmodelingprep.com/market-news/fmp-walgreens-boots-alliance-shares-up-3-since-q2-beat-report-

Davit Kirakosyan

Financial Modeling Prep

Alibaba Shares Surge on a Split Plan into 6 Units

2023-03-29 13:46:00

<p><a href='https://financialmodelingprep.com/financial-summary/BABA'>Alibaba (NYSE:BABA)</a> shares surged over 14% on Tuesday following a Bloomberg News report that the company is planning to divide its business into six new units to boost its declining share price. Each unit may pursue independent fundraising and initial public offerings (IPOs) when the timing is appropriate, as per CEO Daniel Zhang. </p> <p>While e-commerce remains the core business, Alibaba has made significant strides in cloud and media. Zhang will head the cloud intelligence division, highlighting the significance of cloud and AI. Jiang Fan is expected to lead the digital business unit, and Trudy Dai will likely head the Taobao Tmall online shopping division.</p> <p>Since founder Jack Ma criticized regulators and banks in China in a speech in November 2020, shares in Alibaba have plummeted by over 70%. Additionally, a planned $37 billion initial public offering for Ant Financial, an affiliate of Alibaba that operates Alipay, the world's largest mobile payment platform, was canceled due to Ma's comments. As a result of the controversy, Chinese officials initiated a wider crackdown on the country's most influential tech firms. Although Ma has largely remained outside of China since then, he recently visited a school in his hometown of Hangzhou, where Alibaba's headquarters are located.</p>

NYSE:BABA

https://financialmodelingprep.com/market-news/fmp-alibaba-shares-surge-on-a-split-plan-into-6-units

Davit Kirakosyan

Financial Modeling Prep

Tesla’s Upcoming Deliveries and Earnings Preview

2023-03-29 13:43:00

<p>Deutsche Bank analysts provided a review on <a href='https://financialmodelingprep.com/financial-summary/TSLA'>Tesla, Inc. (NASDAQ:TSLA)</a> ahead of the Q1/23 deliveries and earnings announcements this weekend. </p> <p>The analysts cut their Q1 deliveries estimate to 416,000 units (up 34% year-over-year), reflecting still the uncertain macro environment after the price cuts, as well as competitive pricing responses in China. </p> <p>The analysts estimate Tesla delivered about 135,000 units of Model 3+Y in China, with the rest to come from North America (168,000), Europe (73,000), and the Rest of the World (25,000). </p> <p>All in, the analysts’ Q1 revenue is lowered to $22.5 billion on trimmed volume, down from $23.3 billion. The Street estimate stands at $23.50 billion. The analysts lowered their EPS estimate to $0.69 from $0.84, below the Street estimate of $0.87.</p>

NASDAQ:TSLA

https://financialmodelingprep.com/market-news/fmp-tesla’s-upcoming-deliveries-and-earnings-preview

Davit Kirakosyan

Financial Modeling Prep

Rigetti Computing Reports Q4 Revenue Beat, EPS Misses

2023-03-29 13:40:00

<p><a href='https://financialmodelingprep.com/financial-summary/RGTI'>Rigetti Computing, Inc. (NASDAQ:RGTI)</a> reported its Q4 results on Monday, with EPS of ($0.19) coming in worse than the Street estimate of ($0.12), while revenue of $6.1 million beat the Street estimate of $4.4 million.</p> <p>Deutsche Bank analysts provided their views following the results and the company’s first quarterly earnings call with a new CEO, CFO, and CTO, which provided more color on the company's new strategic roadmap. </p> <p>While the analysts remain convinced that the incremental focus on technology execution and near-term productization is the right strategy, management was clear that revenue growth will be minimal over the next 1-2 years, or until the company successfully demonstrates narrow QA. As part of its revised outlook, the company also announced it will need to raise additional capital by the end of 2024 despite cost-cutting measures put in place at the beginning of the year.</p>

NASDAQ:RGTI

https://financialmodelingprep.com/market-news/fmp-rigetti-computing-reports-q4-revenue-beat-eps-misses

Davit Kirakosyan

Financial Modeling Prep

Carrier Global Initiated with Outperform Rating at Oppenheimer

2023-03-29 13:38:00

<p>Oppenheimer started coverage on <a href='https://financialmodelingprep.com/financial-summary/CARR'>Carrier Global Corporation (NYSE:CARR)</a> and gave it an Outperform rating with a $51 price target. The company has performed well since its spin-off from UTC in 2020, and the analysts believe there is potential for even more value creation through various means. </p> <p>The company now has more freedom to allocate growth capital towards areas such as aftermarket, digital tools, product development, and expanding its footprint. The analysts predict that the company will see increased leverage on its investments through productivity gains, share gains, and the development of new digital capabilities. </p> <p>Additionally, the analysts believe that portfolio management opportunities could lead to a re-rating of the company's value, and that its ability to deliver above-average incremental growth and improve free cash flow conversion could help narrow the company's valuation discount compared to its peers.</p>

NYSE:CARR

https://financialmodelingprep.com/market-news/fmp-carrier-global-initiated-with-outperform-rating-at-oppenheimer

Davit Kirakosyan

Financial Modeling Prep

Medtronic Double Downgraded at UBS

2023-03-29 13:34:00

<p><a href='https://financialmodelingprep.com/financial-summary/MDT'>Medtronic (NYSE:MDT)</a> shares have been double-downgraded to Sell from Buy by UBS due to anticipated near-term sales and EPS downside risk. The new price target is $79 per share, a significant drop from the prior target of $127. The analysts believe that Medtronic's ongoing transformation will require more time, and lack confidence that the company can achieve sustainable mid-single-digit top-line growth and consistent operating margin improvement.</p> <p>UBS predicts that Medtronic's sales will grow at a CAGR of 3.8%, which is lower than the consensus estimate of 4.8%. Additionally, UBS' survey shows minimal diabetes share gains. It expects that in 2024 and 2025, the company's EPS will be lower than consensus estimates by low-single-digits and high-single-digits, respectively, mainly due to lower sales. While Medtronic may gain marginal share in some businesses, such as Evolut FX in TAVR (Transcatheter Aortic Valve Replacement), the company is losing share in other areas such as cryo, peripheral, and diabetes. </p>

NYSE:MDT

https://financialmodelingprep.com/market-news/fmp-medtronic-double-downgraded-at-ubs

Davit Kirakosyan

Financial Modeling Prep

Meta to Benefit From TikTok Ban in the U.S.

2023-03-29 13:32:00

<p>According to Morgan Stanley, <a href='https://financialmodelingprep.com/financial-summary/META'>Meta Platforms (NASDAQ: META)</a> is in the most advantageous position among internet stocks to profit from a potential ban of TikTok in the United States. The analyst predicts a significant impact on other social media apps as 53 billion U.S. consumer hours would become available. </p> <p>Morgan Stanley believes that although many analysts suggest Snap (NYSE:SNAP) as the stock to own in case of a TikTok ban, this possibility is already priced into shares. Instead, Meta Platforms has the most potential for growth, while the impact on Google (NASDAQ:GOOGL) would likely be less significant.</p>

NASDAQ:, META

https://financialmodelingprep.com/market-news/fmp-meta-to-benefit-from-tiktok-ban-in-the-us

Davit Kirakosyan

Financial Modeling Prep

PVH Corp Shares Surge 20% on Q4 Beat & Strong Guidance

2023-03-28 20:03:00

<p><a href='https://financialmodelingprep.com/financial-summary/PVH'>PVH Corp (NYSE:PVH)</a> shares jumped more than 20% on Tuesday after the company beat Street estimates for its fiscal Q4 results due to its accelerated growth plan for its core brands Calvin Klein and Tommy Hilfiger, despite a challenging macroeconomic environment. </p> <p>Q4 EPS came in at $2.38 on revenue of $2.49 billion, beating the expected EPS of $1.66 and revenue of $2.36 billion. Although the gross margin fell to 55.9% from the previous year's 58.3%, the PVH+ plan's progress to increase Calvin Klein and Tommy Hilfiger's growth contributed to the beat. Calvin Klein and Tommy Hilfiger revenues increased by 3% compared to the previous year's period. </p> <p>The company expects Q1 EPS of $1.90, compared to the Street estimate of $1.88. Revenue is expected to grow approximately 3% year-over-year on a constant currency basis.</p> <p>For the full 2023 year, the company expects EPS of $10.00, compared to the Street estimate of $8.92. Revenue growth is at 2%-3% on a constant currency basis. </p>

NYSE:PVH

https://financialmodelingprep.com/market-news/fmp-pvh-corp-shares-surge-20-on-q4-beat-&-strong-guidance

Davit Kirakosyan

Financial Modeling Prep

What to Expect From RH’s Upcoming Q4 Earnings?

2023-03-28 19:57:00

<p>Analysts at Wedbush provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/RH'>RH (NYSE:RH)</a> ahead of the upcoming Q4/22 earnings announcement on Wednesday. While the company has already indicated it expects Q4 results near the low end of its guidance range, the analysts expect that the company will point to a weak and uncertain demand environment when it provides its initial outlook for fiscal 2023, along with margin pressure from weak sales and elevated capitalized supply chain costs moving from the balance sheet to the income statement.</p> <p>The analysts see more downside risk to the company compared to its competitors as its customer base skews toward higher-earning households that are seeing demand pressures from higher interest rates, a weakening luxury housing market, ongoing banking concerns, and a volatile stock market.</p> <p>The analyst said they remain comfortable with their 2023 forecast calling for an 8% year-over-year revenue decline, compared to the consensus of a 4% decline. They expect 2023 EPS to be $16.23, compared to the consensus of $16.63.</p>

NYSE:RH

https://financialmodelingprep.com/market-news/fmp-what-to-expect-from-rh’s-upcoming-q4-earnings?

Davit Kirakosyan

Financial Modeling Prep

Still No Upside for Starbucks Shares

2023-03-28 19:50:00

<p>Oppenheimer analysts reiterated its Perform rating on <a href='https://financialmodelingprep.com/financial-summary/SBUX'>Starbucks (NASDAQ:SBUX)</a>, but noted they are constantly searching for an opportunity to reinstate a bullish stance. After another exhaustive modeling analysis, they are unable to identify the upside to Street's 2023/2024 EPS - a catalyst they require.</p> <p>According to the analysts, management’s 2023 EPS guidance requires over 20% growth in H2/23, compared to a 6% growth in H1/23. This H2 acceleration is anticipated as China's recovery unfolds and the Americas segment sustains double-digit EBIT growth. The consensus then assumes fiscal 2024 EPS grows by over 20%. However, the analysts still remain below consensus in 2023 and 2024. They tweak the 2023 EPS estimate to $3.37 from $3.39 and maintain their $4.00 estimate for 2024 (vs. Street's $3.39/$4.07).</p>

NASDAQ:SBUX

https://financialmodelingprep.com/market-news/fmp-still-no-upside-for-starbucks-shares

Davit Kirakosyan

Financial Modeling Prep

APA Corporation's Review Post Q4 Earnings

2023-03-28 19:48:00

<p>Analysts at RBC Capital provided an update on <a href='https://financialmodelingprep.com/financial-summary/APA'>APA Corporation (NASDAQ:APA)</a>, post Q4 results. According to the analysts, the company has among the highest potential for incremental shareholder returns (focused on buybacks) given its high free cash flow yield and upside exposure to oil prices. The company’s shares have lagged peers year-to-date, and the analysts think it is largely related to a clear direction on the Suriname assets. </p> <p>Last month, the company announced its Q4/22 earnings and reiterated its previously announced 2023 capital budget target and provided the 2023 operations outlook. The $2.0-2.1 billion budget is primarily focused on the Permian, Egypt, and Suriname. Lower Q1/23 US production related to well completion timing is largely the variance to the analysts’ model in the early part of the year. Their 399 Mboe/d production forecast is below the company guidance related to their current higher commodity price outlook that causes a greater amount of tax barrels in Egypt.</p>

NASDAQ:APA

https://financialmodelingprep.com/market-news/fmp-apa-corporations-review-post-q4-earnings

Davit Kirakosyan

Financial Modeling Prep

Disney Shares Slightly Up as it Started First Round of Layoffs

2023-03-28 19:45:00

<p><a href='https://financialmodelingprep.com/financial-summary/DIS'>Disney (NYSE:DIS)</a> shares rose around 2% on Monday following reports that the company has initiated the first phase of its previously announced plan to cut 7,000 jobs in an effort to streamline its operations and reduce costs. </p> <p>While ESPN is reportedly unaffected by the initial round of layoffs, several major divisions, including Disney Parks, Disney Entertainment, Experiences and Products, and corporate, will be impacted. According to a letter from Disney Chief Executive Bob Iger, the affected employees will be notified in the next four days, with a larger round of cuts scheduled for April and the final phase beginning before summer. The company aims to save $5.5 billion in costs and turn its loss-making streaming business profitable through these measures.</p>

NYSE:DIS

https://financialmodelingprep.com/market-news/fmp-disney-shares-slightly-up-as-it-started-first-round-of-layoffs

Davit Kirakosyan

Financial Modeling Prep

Micron Technology Reports Worse Than Expected Q2 Results

2023-03-28 19:42:00

<p><a href='https://financialmodelingprep.com/financial-summary/MU'>Micron Technology (NASDAQ:MU)</a> reported its Q2 earnings results, which came in below the Street estimates due to weak demand in the PC and cloud markets. The company reported a loss of $1.91 per share on revenue of $3.69 billion, compared to the Street estimates of a loss of $0.66 per share on revenue of $3.74 billion. </p> <p>The overall market has been tough for chipmakers like Micron, with weak demand in various end markets and elevated inventories. However, the company expects gradual improvements to the industry's supply-demand balance as customer inventories improve. </p> <p>Looking ahead to the fiscal Q3, the company anticipates a loss in the range of $1.51 to $1.65 on revenue of $3.7 billion, compared to the Street estimates of a loss of $0.92 on revenue of $3.8 billion.</p>

NASDAQ:MU

https://financialmodelingprep.com/market-news/fmp-micron-technology-reports-worse-than-expected-q2-results-

Davit Kirakosyan

Financial Modeling Prep

What to Expect From Lululemon Athletica’s Q4 Results Tomorrow?

2023-03-27 16:26:00

<p>Deutsche Bank provided its outlook on <a href='https://financialmodelingprep.com/financial-summary/LULU'>Lululemon Athletica Inc. (NASDAQ:LULU)</a> ahead of the upcoming Q4/23 earnings report tomorrow.</p> <p>The analysts expect the company to beat Q4 (modeling $4.28 EPS vs. the Street estimate of $4.25), particularly on the top-line as they anticipate gross profit margin to come in at the low end of the range provided at ICR given higher than usual levels of markdowns in stores and online throughout January. </p> <p>The analysts highlighted that investor sentiment generally leans positive into the print, with the expectation that the company will guide 2023 to approximately $11.50 (vs. Street’s $11.27) and in line with its long-term algorithm. </p> <p>The analysts are of the view that a better than anticipated top-line will likely be somewhat offset by softer gross margin guidance, particularly in the first half of the year.</p>

NASDAQ:LULU

https://financialmodelingprep.com/market-news/fmp-what-to-expect-from-lululemon-athletica’s-q4-results-tomorrow?

Davit Kirakosyan

Financial Modeling Prep

FactSet Shares Drop 4% Since Q2 Report

2023-03-27 16:23:00

<p><a href='https://financialmodelingprep.com/financial-summary/FDS'>FactSet (NYSE:FDS)</a> shares fell more than 4% since the company’s reported Q2 results, with EPS of $3.80 beating the Street estimate of $3.69. Revenue was $515.1 million, roughly in line with the Street estimate of $515.48 million.</p> <p>Despite the beat, the company slightly lowered its full-year 2023 Annual Subscription Value (ASV) and revenue guidance, reflecting a potential slowdown in the banking sector (2/3 of ASV) and lengthening the sales cycle and constrained budget (1/3 of ASV).</p> <p>The company expects 2023 EPS in the range of $14.50-$14.90, compared to the Street estimate of $14.89. Full-year revenue is expected in the range of $2.08-2.1 billion, compared to the Street estimate of $2.09 billion.</p>

NYSE:FDS

https://financialmodelingprep.com/market-news/fmp-factset-shares-drop-4-since-q2-report

Davit Kirakosyan

Financial Modeling Prep

Key Takeaways From Salesforce’s Investor Meeting

2023-03-27 16:21:00

<p>RBC Capital analysts provided their key takeaways from <a href='https://financialmodelingprep.com/financial-summary/CRM'>Salesforce, Inc. (NYSE:CRM)</a> investor meeting, noting they came away more positive on the company, as it is working on truly transforming the business and emphasizing profitability.</p> <p>Salesforce noted “phase one” of the profitability journey is the 30% operating margin target (Q1/25) driven by the RIF and ongoing cost-cutting initiatives. Management also outlined an aspirational “phase two” path to potentially unlocking margins in-line with large-cap software peers, driven by more surgical go-to-market changes, deeper product integration, and more hiring in lower-cost areas (e.g. Hyderabad).</p> <p>Management acknowledges ongoing changes could lead to some disruption and lower morale, which coupled with macro, are growth headwinds. However, beyond the near-term, the growth drivers are mostly unchanged, including (1) International, where Salesforce is much less penetrated and can improve the GTM by putting more investment into the indirect/reseller channels, (2) Industry Cloud, with now 12 out-of-the-box solutions for specific verticals, which have seen strong performance recently (Industry Cloud has better margins and gross retention).</p>

NYSE:CRM

https://financialmodelingprep.com/market-news/fmp-key-takeaways-from-salesforce’s-investor-meeting

Davit Kirakosyan

Financial Modeling Prep

Darden Restaurants Report Q3 Beat & Strong Guidance

2023-03-27 16:18:00

<p><a href='https://financialmodelingprep.com/financial-summary/DRI'>Darden Restaurants (NYSE:DRI)</a> reported its Q3 results on Thursday, with EPS coming in at $2.34, above the Street estimate of $2.23. Revenue was $2.8 billion, beating the Street estimate of $2.73 billion.</p> <p>And while commodity inflation remains stubbornly elevated, the trend remains encouraging, with the company pointing to its food basket moderating to low-single-digit inflation in 2024. </p> <p>The company provided its outlook for the full 2023 year, expecting EPS in the range of $7.85-$8.00, compared to the Street estimate of $7.85 Revenue is seen at $10.45-10.5 billion, compared to the Street estimate of $10.42 billion.</p>

NYSE:DRI

https://financialmodelingprep.com/market-news/fmp-darden-restaurants-report-q3-beat-&-strong-guidance-

Davit Kirakosyan

Financial Modeling Prep

Accenture Shares Gains 8% Since Q2 Beat

2023-03-27 16:16:00

<p><a href='https://financialmodelingprep.com/financial-summary/ACN'>Accenture (NYSE:ACN)</a> shares rose nearly 8% since the company’s reported Q2 earnings results last week, with EPS of $2.69 coming in better than the Street estimate of $2.49. Revenue was $15.8 billion, beating the Street estimate of $15.61 billion.</p> <p>Reflecting lower anticipated FX headwinds, but a tightening of local-currency revenue growth towards the lower end of the prior range, management maintained the midpoint of its 2023 reported revenue guidance and adjusted operating margin targets, while increasing its EPS guidance.</p> <p>The company expects 2023 EPS in the range of $11.41-$11.63, compared to the Street estimate of $11.45. Full-year revenue growth is expected in the range of 8% to 10% in local currency and a foreign-exchange impact of negative 4.5%.</p> <p>Furthermore, the company announced its plans to lay off about 19,000 people, or approximately 2.5% of its total global workforce.</p>

NYSE:ACN

https://financialmodelingprep.com/market-news/fmp-accenture-shares-gains-8-since-q2-beat

Davit Kirakosyan

Financial Modeling Prep