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Apple Slashed to Sector Weight Rating at KeyBanc | 2023-10-04 12:11:00 | <p><a href='https://financialmodelingprep.com/financial-summary/AAPL'>Apple (NASDAQ:AAPL)</a> was downgraded by KeyBanc, which shifted its rating from Overweight to Sector Weight. The reasons behind this decision include Apple's elevated valuation when compared to historical levels and the Nasdaq index, potential hurdles in U.S. sales, optimistic expectations for international growth, and the belief that the company's estimates are already fully priced in from both a revenue and earnings perspective.</p>
<p>KeyBanc emphasized that to justify a positive outlook for Apple shares, either peak valuations must be sustained or the company's growth trajectory must significantly improve. Furthermore, they anticipate sluggish growth in key markets, particularly in the U.S., which contributes approximately 37% of Apple's total revenue. KeyBanc predicts a fourth consecutive year-over-year decline in Q4/23, potentially extending into Q1/24.</p>
| NASDAQ:AAPL | https://financialmodelingprep.com/market-news/fmp-apple-slashed-to-sector-weight-rating-at-keybanc | Davit Kirakosyan | Financial Modeling Prep |
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Coinbase Stock Still an Underperform at Mizuho | 2023-10-04 12:06:00 | <p>Mizuho Securities analysts reaffirmed their Underperform rating on <a href='https://financialmodelingprep.com/financial-summary/COIN'>Coinbase Global (NASDAQ:COIN)</a> and set a price target of $27.00. </p>
<p>The analysts expect that the third quarter will likely result in disappointing performance, citing decreasing trading volumes (e.g., $28 billion in July, $24 billion in August, and $20 billion in September) and an anticipated reduction in retail trading activity. </p>
<p>These factors are anticipated to exert significant downward pressure on third-quarter revenue, with Mizuho estimating it to be 10% below current consensus projections. Consequently, he has lowered their third-quarter revenue estimate by 7%.</p>
| NASDAQ:COIN | https://financialmodelingprep.com/market-news/fmp-coinbase-stock-still-an-underperform-at-mizuho- | Davit Kirakosyan | Financial Modeling Prep |
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Helen of Troy Beats Q2 Results, But Shares Drop 7% on Weak Guidance | 2023-10-04 12:04:00 | <p><a href='https://financialmodelingprep.com/financial-summary/HELE'>Helen of Troy (NASDAQ:HELE)</a> announced Q2 earnings per share (EPS) of $1.74, surpassing the Street estimate of $1.64. The company reported revenue of $491.6 million for the quarter, higher than the Street estimate of $484.79 million. However, the stock experienced a more than 7% intra-day decline due to disappointing guidance.</p>
<p>Julien Mininberg, Chief Executive Officer, expressed satisfaction with the quarter's results, highlighting that they achieved net sales and adjusted EPS at the upper end of their expectations. The company met its revenue expectations for most of its Leadership Brands, and international performance was notably strong. Helen of Troy also focused on supporting significant new product launches, substantially improving gross margin, and returning value to shareholders through share repurchases.</p>
<p>In terms of guidance, Helen of Troy anticipates fiscal 2024 EPS in the range of $8.50 to $9.00, compared to the Street estimate of $8.91. The company expects 2024 revenue to fall between $1.965 billion and $2.015 billion, compared to the Street estimate of $2.003 billion.</p>
| NASDAQ:HELE | https://financialmodelingprep.com/market-news/fmp-helen-of-troy-beats-q2-results-but-shares-drop-7-on-weak-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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Ally Financial Stock in Tactical Outperform List at Evercore | 2023-10-04 12:01:00 | <p>Evercore ISI analysts maintained their In Line rating and a price target of $30.00 on <a href='https://financialmodelingprep.com/financial-summary/ALLY'>Ally Financial (NYSE:ALLY)</a>. However, they now included the stock in the Tactical Outperform List due to its apparent oversold condition in the short term.</p>
<p>The analysts explained that Ally Financial's fundamental prospects and valuation have been negatively affected by various factors, including challenging interest rate conditions (yield challenges and funding pressures), a decline in consumer credit quality, and the anticipated effects of TLAC (Total Loss-Absorbing Capacity) and B3EG (Basel III Enhanced Leverage Ratio) on returns. </p>
<p>Nevertheless, the analysts believe that recent efforts to control expense growth, combined with the stabilization or potential improvement in used car values, could lead to short-term upside potential for the stock, which is currently trading at a discounted valuation. </p>
| NYSE:ALLY | https://financialmodelingprep.com/market-news/fmp-ally-financial-stock-in-tactical-outperform-list-at-evercore | Davit Kirakosyan | Financial Modeling Prep |
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Goldman Sachs Says Buy Dell Stock Today | 2023-10-04 09:16:00 | <p>Goldman Sachs analysts offered tactical trade ideas for the week, suggesting that clients consider buying <a href='https://financialmodelingprep.com/financial-summary/DELL'>Dell (NYSE:DELL)</a> shares in anticipation of the company's analyst day on October 5. </p>
<p>The analysts expect the focus of the event to be on the company's AI opportunities. The discussions are likely to revolve around the size of the AI opportunity, the types of customers Dell can serve, and its positioning in the AI infrastructure market. </p>
<p>Additionally, Goldman anticipates Dell addressing the potential impact of AI on traditional data center infrastructure demand. The analysts also expect discussions on market size, Dell's market share strategy, updates to long-term revenue and EPS growth targets, and insights into the company's capital allocation framework. There is potential for updates to Dell's current long-term targets of 3-4% annual revenue growth and 6%+ annual EPS growth. </p>
<p>Furthermore, Goldman highlighted that Dell has exceeded its long-term shareholder capital return target of 40-60% of adjusted FCF (free cash flow).</p>
| NYSE:DELL | https://financialmodelingprep.com/market-news/fmp-goldman-sachs-says-buy-dell-stock-today | Davit Kirakosyan | Financial Modeling Prep |
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Intel Stock Gains on Plans to Separate PSG Operations | 2023-10-04 09:14:00 | <p><a href='https://financialmodelingprep.com/financial-summary/INTC'>Intel Corporation (NASDAQ:INTC)</a> shares gained more than 2% pre-market today after the company announced its intention to spin off its programmable solutions unit into an independent business starting in January next year. </p>
<p>This strategic move is aimed at enabling the PSG (Programmable Solutions Group) business to accelerate its growth and enhance its competitiveness in the FPGA (Field-Programmable Gate Array) industry, serving various markets with pre-fabricated chips. As part of this transition, Sandra Rivera, an executive vice president at Intel, will become the CEO of PSG.</p>
| NASDAQ:INTC | https://financialmodelingprep.com/market-news/fmp-intel-stock-gains-on-plans-to-separate-psg-operations | Davit Kirakosyan | Financial Modeling Prep |
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Tesla Stock Falls on Weak Delivery Numbers | 2023-10-03 12:22:00 | <p><a href='https://financialmodelingprep.com/financial-summary/TSLA'>Tesla (NASDAQ:TSLA)</a> reported lower-than-expected delivery numbers for the third quarter, attributed to factory upgrades during the summer. Following the delivery report, Tesla shares declined by more than 2% intra-day today.</p>
<p>In the third quarter, Tesla reported deliveries of 435,059 vehicles, falling short of Wall Street analysts' expectations of 456,722. Model S/X deliveries were 15,985, compared to the anticipated 17,722, and Model 3/Y deliveries amounted to 419,074, below the estimated 439,362.</p>
<p>Regarding production, Tesla manufactured a total of 430,488 vehicles during the quarter, which was lower than the estimated 461,992. Tesla explained the sequential decline in volumes as a result of planned factory upgrades previously discussed in its earnings call. The company stated that its 2023 volume target of approximately 1.8 million vehicles remains unchanged despite these challenges.</p>
| NASDAQ:TSLA | https://financialmodelingprep.com/market-news/fmp-tesla-stock-falls-on-weak-delivery-numbers | Davit Kirakosyan | Financial Modeling Prep |
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Fiverr International Shares Surge 7% Following Upgrade | 2023-10-03 12:20:00 | <p><a href='https://financialmodelingprep.com/financial-summary/FVRR'>Fiverr International (NYSE:FVRR)</a> shares rose around 7% intra-day today after Roth MKM upgraded the company from Neutral to Buy and maintained a price target of $33 per share. The analysts shared that their recent survey results were favorable for Fiverr. Additionally, the analysts believe that AI could provide a significant boost to gig sector platforms.</p>
<p>They also highlighted that Fiverr's recent stock pullback has resulted in attractive valuation levels, further supported by positive macro trends. The analysts noted that based on their latest survey, both corporate buyers and freelancers have a more positive outlook on gig platforms compared to May 2023 and January 2023, although it remains below early 2022 levels.</p>
| NYSE:FVRR | https://financialmodelingprep.com/market-news/fmp-fiverr-international--shares-surge-7-following-upgrade | Davit Kirakosyan | Financial Modeling Prep |
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Airbnb Stock Drops 5% on KeyBanc Downgrade | 2023-10-03 12:18:00 | <p>KeyBanc Capital analysts downgraded <a href='https://financialmodelingprep.com/financial-summary/ABNB'>Airbnb (NASDAQ:ABNB)</a> from Overweight to Sector Weight, which resulted in a share price drop of more than 5% intra-day today.</p>
<p>The analysts cited concerns about the sustainability of margins and potential deceleration in revenue growth. They pointed out that the recovery in leisure travel has led to significant margin expansion, but as these favorable trends diminish, there are increased risks to room night equivalent (RNE) and average daily rate (ADR) growth. </p>
<p>The analysts also highlighted the elevated risk to ADR and suggested that the risk of deceleration in RNE growth could begin in the fourth quarter. Overall, they believe Airbnb's growth expectations may be too optimistic.</p>
| NASDAQ:ABNB | https://financialmodelingprep.com/market-news/fmp-airbnb-stock-drops-5-on-keybanc-downgrade | Davit Kirakosyan | Financial Modeling Prep |
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Meta May Introduce a €10 Per Month Ad-Free Instagram or Facebook | 2023-10-03 12:16:00 | <p><a href='https://financialmodelingprep.com/financial-summary/META'>Meta Platforms (NASDAQ:META)</a>, the parent company of Instagram and Facebook, is exploring the possibility of introducing a subscription service in Europe called "SNA," which stands for subscription no ads.</p>
<p>Under this potential plan, European users would have the choice to pay a monthly fee to access Instagram and Facebook without advertisements, or they could continue using the platforms for free but with personalized ads, as reported by the Wall Street Journal.</p>
<p>On desktop platforms, Meta is considering a fee of around €10 per month for a Facebook or Instagram account, with an additional charge of roughly €6 for each linked account. For mobile devices, the monthly cost would rise to approximately €13 due to commissions from Apple's and Google's app stores for in-app payments.</p>
<p>Meta is pursuing this initiative in response to European Union regulations that may restrict its ability to deliver personalized ads without explicit user consent, which is a significant source of revenue for the company.</p>
| NASDAQ:META | https://financialmodelingprep.com/market-news/fmp-meta-may-introduce-a-€10-per-month-ad-free-instagram-or-facebook- | Davit Kirakosyan | Financial Modeling Prep |
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HP Shares Gain 2% After BofA Securities Upgrade | 2023-10-03 10:43:00 | <p>BofA Securities analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/HPQ'>HP (NYSE:HPQ)</a> from Underperform rating to Buy with a $33.00 price target. As a result, shares gained more than 2% intra-day today.</p>
<p>This upgrade comes after HP shares fell nearly 25% since July due to the company's lowered EPS and FCF guidance linked to a delayed PC recovery. Additionally, Berkshire Hathaway, led by Warren Buffett, has reduced its stake in HP recently.</p>
<p>The bank's decision is based on several factors, including the expectation that HP will reach a bottom in its free cash flow during the fiscal year 2023, an anticipation of growth in the company's overall operating profit dollars, and the belief that, as free cash flow normalizes, HP will resume its capital return activities.</p>
| NYSE:HPQ | https://financialmodelingprep.com/market-news/fmp-hp-shares-gain-2-after-bofa-securities-upgrade | Davit Kirakosyan | Financial Modeling Prep |
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Constellation Brands’ Price Target Raised Ahead of Q2 Earnings | 2023-10-03 10:41:00 | <p>Wedbush analysts increased the price target for <a href='https://financialmodelingprep.com/financial-summary/STZ'>Constellation Brands (NYSE:STZ)</a> to $300.00, up from $275.00, while maintaining an Outperform rating.</p>
<p>According to the analysts, there are several upcoming catalysts that bolster their confidence in STZ's ability to outperform and achieve strong revenue and earnings growth. These catalysts include the imminent Q2/24 earnings release on Thursday, where robust beer performance is expected, and eased comps in the latter part of the fiscal year. </p>
<p>In the longer term, as the beer category stabilizes and commodity inflation decreases, STZ is anticipated to return to a trajectory of double-digit earnings growth, especially as beer margins align with their long-term target range of 39-40%.</p>
| NYSE:STZ | https://financialmodelingprep.com/market-news/fmp-constellation-brands’-price-target-raised-ahead-of-q2-earnings | Davit Kirakosyan | Financial Modeling Prep |
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Insulet Surges 5% After Jefferies Upgrade | 2023-10-02 12:16:00 | <p>Jefferies analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/PODD'>Insulet (NASDAQ:PODD)</a> shares from Hold to Buy, with a revised price target of $240 per share, down from the previous target of $260. As a result, shares gained more than 5% intra-day today.</p>
<p>The analysts mentioned that the upgrade is an opportunistic move due to the underperformance of PODD linked to concerns regarding GLP-1. They noted that while the previous rating had been Hold primarily due to valuation, they have always been positive about Insulet's product offerings, particularly its disposable patch pump, which enjoys a competitive edge due to its discreet and user-friendly design.</p>
<p>The analysts highlighted the benefits of disposability, allowing diabetes patients to try PODD at no initial cost, making it a "pay as you go" option. They also pointed out that the advantages of the disposable patch pump appear to be durable, given Insulet's significant first-mover advantage in this segment of the market.</p>
| NASDAQ:PODD | https://financialmodelingprep.com/market-news/fmp-insulet-surges-5-after-jefferies-upgrade | Davit Kirakosyan | Financial Modeling Prep |
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US Steel Gets Upgraded to Overweight Rating | 2023-10-02 12:14:00 | <p>Morgan Stanley analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/X'>US Steel (NYSE:X)</a> from Equal Weight to Overweight and raised the price target to $40 per share, marking a $15 increase.</p>
<p>Additionally, the analysts designated the stock as a new Top Pick in the firm's mining sector research coverage. This upgrade is driven by the expected value creation resulting from US Steel's "transformational investments."</p>
<p>The transformation includes the expansion of the company's Electric Arc Furnace (EAF) capabilities and the development of high-value downstream products. A notable aspect of this transformation is the construction of the advanced Big River 2 (BR2) mini mill, with a capacity of 3.0 million tons per annum, which is set to become operational in 2024. </p>
<p>Furthermore, the ongoing strategic review process to potentially sell assets or the company itself highlights the value of US Steel's growth initiatives.</p>
| NYSE:X | https://financialmodelingprep.com/market-news/fmp-us-steel-gets-upgraded-to-overweight-rating- | Davit Kirakosyan | Financial Modeling Prep |
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Zscaler Stock Surges 4% Following Piper Sandler Upgrade | 2023-10-02 12:10:00 | <p>Piper Sandler analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/ZS'>Zscaler (NASDAQ:ZS)</a> to Overweight from Neutral and increased the price target by $30 to $190 per share, resulting in a 4% rise in Zscaler's stock price intra-day today.</p>
<p>The upgrade is founded on the expectation that the company will continue to benefit from robust trends in security spending and the ongoing momentum in network transformation. The analysts believe that Zscaler will remain a primary beneficiary of the growing adoption of Secure Access Service Edge (SASE), representing a long-term growth driver for the company.</p>
<p>Furthermore, the platform approach of Zscaler is gaining traction, with its newer solutions demonstrating sustained momentum and scalability. The combination of strong growth prospects and improving margins positions Zscaler favorably for the fourth quarter and the upcoming year.</p>
| NASDAQ:ZS | https://financialmodelingprep.com/market-news/fmp--zscaler-stock-surges-4-following-piper-sandler-upgrade | Davit Kirakosyan | Financial Modeling Prep |
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Microsoft Upgraded at Jefferies on 365 Copilot | 2023-10-02 12:07:00 | <p>Jefferies analysts reiterated a Buy rating and a Franchise Pick designation for <a href='https://financialmodelingprep.com/financial-summary/MSFT'>Microsoft (NASDAQ:MSFT)</a> after conducting a detailed analysis of Microsoft Copilot 365.</p>
<p>Microsoft is set to make M365 Copilot generally available on November 1, and it has already garnered significant interest, with over 10,000 customers ready to adopt it.</p>
<p>The firm’s analysis suggests that M365 Copilot could potentially drive around $3 billion in revenue in fiscal 2024 and over $19 billion in 2025, representing an approximately 8% upside to their 2025 total revenue estimate. This assumes conservative adoption rates and no discounts.</p>
<p>Furthermore, the general availability of Windows Copilot on September 26 could have a positive impact on Bing Ad revenue, as Windows Copilot users in the preview have reported seeing Bing Ads in their search results.</p>
| NASDAQ:MSFT | https://financialmodelingprep.com/market-news/fmp-microsoft-upgraded-at-jefferies-on-365-copilot | Davit Kirakosyan | Financial Modeling Prep |
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Carnival Stock Drops 5% Despite Q3 Beat on Fuel Cost Concerns | 2023-10-02 09:04:00 | <p><a href='https://financialmodelingprep.com/financial-summary/CCL'>Carnival (NYSE:CCL)</a> has reported its Q3 earnings per share (EPS) at $0.86, surpassing the Street estimate of $0.76. The company's Q3 revenue also exceeded expectations, coming in at $6.85 billion, compared to the Street estimate of $6.7 billion. Despite the beat, the company’s shares dropped around 5% on Friday due to concerns related to fuel costs.</p>
<p>During the quarter, Carnival experienced strong demand, reflecting a robust consumer appetite for travel. Total customer deposits reached a record of $6.3 billion, and booking volumes remained significantly high, setting a new third-quarter record for total bookings.</p>
<p>In terms of the outlook for 2023, Carnival expects adjusted EBITDA to be in the range of $4.1 billion to $4.2 billion, with occupancy levels at 100%.</p>
| NYSE:CCL | https://financialmodelingprep.com/market-news/fmp-carnival-stock-drops-5-despite-q3-beat-on-fuel-cost-concerns | Davit Kirakosyan | Financial Modeling Prep |
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Norfolk Southern Slashed to Neutral at BofA Securities | 2023-10-02 09:00:00 | <p>BofA Securities analysts shifted their recommendation for <a href='https://financialmodelingprep.com/financial-summary/NSC'>Norfolk Southern (NYSE:NSC)</a> from Buy to Neutral, along with a lowering of the price target from $266.00 to $215.00.</p>
<p>The bank's rationale for this adjustment is grounded in a revised valuation method, as they now consider the company's estimated 2024 earnings per share to be valued at 16.5 times earnings, compared to the previous 19 times. This adjustment aligns the target multiple more closely with the midpoint of the range, taking into account the ongoing service challenges faced by NSC.</p>
<p>The external factors impacting NSC's operations, which include concerns about data integrity and disruptions in customer movements, raise the potential for a loss of market share compared to its industry peers.</p>
<p>Consequently, the analysts also revised downward their EPS estimates for 2023, 2024, and 2025, with figures now standing at $11.90, $13.00, and $14.50, respectively. This is a downward adjustment from the previous estimates of $12.60, $14.00, and $15.45.</p>
| NYSE:NSC | https://financialmodelingprep.com/market-news/fmp-norfolk-southern-slashed-to-neutral-at-bofa-securities | Davit Kirakosyan | Financial Modeling Prep |
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Spotify Slashed to Neutral Ahead of Q3 Earnings | 2023-09-30 07:41:00 | <p>Monness Crespi Hardt analysts downgraded <a href='https://financialmodelingprep.com/financial-summary/SPOT'>Spotify (NYSE:SPOT)</a> from Buy to Neutral. The analysts explained that Spotify's stock has seen significant growth this year, with a 95% increase. Given this substantial outperformance and growing concerns about potential market challenges, the analysts chose to step back from their Buy rating on Spotify. </p>
<p>The analysts mentioned that Spotify is set to release its third-quarter results on Oct 24, and although the company is well-positioned for long-term success with platform enhancements, expansion into the digital advertising market, audio innovations, and cost improvements, it faces stiff competition and operates with slim profit margins. Consequently, the firm believes that Spotify could be entering a more challenging phase.</p>
| NYSE:SPOT | https://financialmodelingprep.com/market-news/fmp-spotify-slashed-to-neutral-ahead-of-q3-earnings- | Davit Kirakosyan | Financial Modeling Prep |
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Bumble Gains 3% Following Loop Capital Upgrade | 2023-09-30 07:38:00 | <p><a href='https://financialmodelingprep.com/financial-summary/BMBL'>Bumble (NASDAQ:BMBL)</a> shares rose more than 3% on Friday after Loop Capital upgraded the company to Buy from Hold with a price target of $18.00. The analysts noted that it's the first time they've issued a Buy rating on Bumble since they began covering the company two and a half years ago. </p>
<p>The analysts mentioned that the stock is currently trading near its 52-week low and has declined over 30% year-to-date, which they view as de-risked. </p>
<p>The analysts highlighted Bumble's strong cash position, effective use of interest rate swaps, and free cash flow generation as factors that protect the company's balance sheet. In their commentary, the analysts also pointed out that Bumble trades at a lower EV/EBITDA multiple compared to its competitor Match Group and that investor sentiment is bearish, potentially undervaluing Bumble's growth prospects in the online dating industry. </p>
| NASDAQ:BMBL | https://financialmodelingprep.com/market-news/fmp-bumble-gains-3-following-loop-capital-upgrade | Davit Kirakosyan | Financial Modeling Prep |
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AB InBev Stock Rises 3% on BofA Upgrade | 2023-09-30 07:36:00 | <p><a href='https://financialmodelingprep.com/financial-summary/BUD'>AB InBev (NYSE:BUD)</a> saw its stock price rise by more than 3% on Friday, driven by a rare upgrade of the beverage giant. AB InBev has been contending with a slowdown in Bud Light sales amidst a controversial advertising campaign involving transgender influencer Dylan Mulvaney.</p>
<p>BofA Securities analysts upgraded the stock from Neutral to Buy and increased the price target to €65 from €59. It marks the first time in three years that the firm has issued a Buy recommendation for the stock, driven by the analyst's perception of a margin turning point.</p>
<p>In the analysts' view, AB InBev's margins are at a critical juncture. They believe that the pressures on the cost of goods sold (COGS) have started to ease, the over $1 billion profit impact from Bud Light is now incorporated into the base, and the higher cost of doing business that had been weighing on margins in recent years is largely accounted for in the base figures.</p>
| NYSE:BUD | https://financialmodelingprep.com/market-news/fmp-ab-inbev-stock-rises-3-on-bofa-upgrade | Davit Kirakosyan | Financial Modeling Prep |
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Nike Stock Gains 6% Following Q1 EPS Beat | 2023-09-30 07:33:00 | <p><a href='https://financialmodelingprep.com/financial-summary/NKE'>Nike (NYSE:NKE)</a> posted fiscal first-quarter earnings that exceeded expectations, resulting in a 6% surge in its stock price on Friday, even though the company missed revenue estimates. The revenue shortfall was attributed to challenges in North America and an economic slowdown in its crucial Chinese market.</p>
<p>For the fiscal first quarter, Nike reported earnings per share (EPS) of $0.94 on revenue of $12.94 billion. Street estimated EPS of $0.75 on revenue of $13.02 billion.</p>
<p>While Nike brand digital sales recorded a 2% increase, growth in the EMEA (Europe, Middle East, and Africa), Greater China, and APLA (Asia Pacific and Latin America) regions partially offset a decline in North America. Sales in North America dropped by 2%, while sales in China, a critical market for the company, rose by 5% to $1.74 billion, though this figure fell short of Street’s estimate of $1.84 billion.</p>
| NYSE:NKE | https://financialmodelingprep.com/market-news/fmp-nike-stock-gains-6-following-q1-eps-beat | Davit Kirakosyan | Financial Modeling Prep |
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Brinker International Earns an Upgrade at Stifel | 2023-09-30 07:29:00 | <p><a href='https://financialmodelingprep.com/financial-summary/EAT'>Brinker International (NYSE:EAT)</a> earned an upgrade from Stifel, which comes after the analysts conducted investor meetings with Brinker's management team. They came away with a more optimistic view of the turnaround efforts at Chili's, a subsidiary of Brinker International.</p>
<p>Stifel analysts upgraded the company from Hold to Buy and raised the price target from $38 to $45. </p>
<p>The analysts expressed confidence in Brinker's strategic plan, which they believe aligns with successful restaurant turnaround strategies implemented by brands like Olive Garden, Popeyes, and KFC. They highlighted that Chili's faces operational challenges, but there are multiple opportunities in the coming quarters to make changes that can enhance the experiences of both team members and customers.</p>
| NYSE:EAT | https://financialmodelingprep.com/market-news/fmp-brinker-international-earns-an-upgrade-at-stifel | Davit Kirakosyan | Financial Modeling Prep |
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Restaurant Brands Upgraded to Buy After Recent Checks | 2023-09-30 07:26:00 | <p>Loop Capital analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/QSR'>Restaurant Brands International (NYSE:QSR)</a> to a Buy rating from Hold and set a price target of $81.00 for the stock in response to the results from checks, which exceeded expectations.</p>
<p>According to Loop Capital's recent assessments of Burger King, same-store sales have been trending upward, experiencing a growth rate of approximately 8.5-9.0% from the beginning of the quarter through late September. This growth surpasses the Street estimate of a 7.7% increase for the third quarter. When viewed over a two-year period, this 8.5-9.0% growth equates to a substantial gain of 12.5-13.0%. This represents a significant improvement compared to Burger King's reported two-year domestic growth of 8.7% in the second quarter of 2023.</p>
| NYSE:QSR | https://financialmodelingprep.com/market-news/fmp-restaurant-brands-upgraded-to-buy-after-recent-checks | Davit Kirakosyan | Financial Modeling Prep |
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Accenture Plunges 5% After Q4 Earnings Report | 2023-09-28 12:28:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ACN'>Accenture (NYSE:ACN)</a> shares dropped more than 5% intra-day today after the company released its Q4 results and provided guidance for its full fiscal year.</p>
<p>The company reported an EPS of $2.71, surpassing the Street estimate of $2.66. However, the revenue for the quarter came in slightly below expectations at $15.99 billion, compared to the Street estimate of $16.07 billion. </p>
<p>Looking forward, Accenture offered guidance for 2024, projecting an EPS range of $11.97 to $12.32. This is slightly lower than the Street forecast of $12.46. Additionally, for fiscal year 2024, Accenture anticipates revenue growth in the range of 2% to 5%.</p>
<p>For the first quarter of fiscal 2024, the company expects revenues to fall within the range of $15.85 billion to $16.45 billion.</p>
| NYSE:ACN | https://financialmodelingprep.com/market-news/fmp-accenture-plunges-5-after-q4-earnings-report | Davit Kirakosyan | Financial Modeling Prep |
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CarMax Shares Plummet 10% Following Q2 Earnings Results | 2023-09-28 12:27:00 | <p><a href='https://financialmodelingprep.com/financial-summary/KMX'>CarMax (NYSE:KMX)</a> shares plunged more than 10% intra-day today following the company’s reported mixed Q2 earnings.</p>
<p>The used vehicle retailer fell short of the average analyst EPS estimate, reporting $0.75 per share, which was $0.03 less than the Street expectation of $0.78. However, the company's revenue for the quarter came in at $7.1 billion, reflecting a 13.1% year-over-year decline but slightly surpassing the Street estimate of $7.01 billion.</p>
<p>During the quarter, it appears that there was a weakening in demand for used vehicles, with retail used unit sales decreasing by 7.4% and comparable store used unit sales dropping by 9% compared to the second quarter of the prior year. Wholesale units also saw a decline of 11.2% year-over-year. The combined total of retail and wholesale used vehicle unit sales amounted to 342,662, marking a 9% decrease.</p>
| NYSE:KMX | https://financialmodelingprep.com/market-news/fmp-carmax-shares-plummet-10-following-q2-earnings-results | Davit Kirakosyan | Financial Modeling Prep |
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Workday Stock Drops 10% on Disappointing Long Term Guidance | 2023-09-28 12:25:00 | <p><a href='https://financialmodelingprep.com/financial-summary/WDAY'>Workday (NASDAQ:WDAY)</a> experienced a 10% intra-day drop in its shares due to the disappointing long-term guidance provided during the Workday Rising event, leading several Wall Street firms to revise their price targets and estimates.</p>
<p>Workday has revised its outlook, now anticipating subscription revenue growth of 17%-19% through 2027. This falls below the Street expectation of 20.6% growth.</p>
<p>In response to this weaker guidance, analysts at BofA Securities, Wolfe Research, Citi, and Barclays have adjusted their price targets downward.</p>
<p>BofA Securities lowered its price target from $275 to $260 while maintaining a Buy rating. The analysts suggested that, given the challenging macroeconomic environment, the company may have built a reasonable level of caution into its expectations.</p>
<p>Citi reduced its price target from $247 to $236 while keeping a Neutral rating. The bank pointed out that while the outlook is disappointing, a portion of it may be attributed to macroeconomic factors and the conservatism of a new team in resetting expectations.</p>
| NASDAQ:WDAY | https://financialmodelingprep.com/market-news/fmp-workday-stock-drops-10-on-disappointing-long-term-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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Amazon Stock an Outperform at Evercore | 2023-09-28 12:22:00 | <p>Evercore ISI analysts reasserted an Outperform rating for <a href='https://financialmodelingprep.com/financial-summary/AMZN'>Amazon (NASDAQ:AMZN)</a> with a price target of $190.00. The firm’s analysis highlighted the recent 15% decline in Amazon shares, attributing it to various macroeconomic, market, and company-specific factors. </p>
<p>The analysts view this drop as an attractive opportunity for investors to enter or add to their positions in Amazon. The analysts emphasized Amazon's potential as a classic long-term investment, particularly with an appealing Triple Trough 2023 setup that includes a low valuation multiple, improved margins, and revenue growth. </p>
<p>The analysts also mentioned that recent reports on Amazon's advertising and cloud segments, along with an examination of Amazon Prime Video's advertising revenue potential, have strengthened their confidence in the stock.</p>
| NASDAQ:AMZN | https://financialmodelingprep.com/market-news/fmp-amazon-stock-an-outperform-at-evercore | Davit Kirakosyan | Financial Modeling Prep |
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Huntington Ingalls Stock Gains Following JPMorgan Upgrade | 2023-09-28 10:21:00 | <p><a href='https://financialmodelingprep.com/financial-summary/HII'>Huntington Ingalls (NYSE:HII)</a> stock rose more than 1% pre-market today after JPMorgan analysts upgraded the company from a Neutral rating to Overweight. They also set a price target of $247.00, which implies a 22% upside compared to the previous price target of $250.00 that was established for December 2023.</p>
<p>The analysts’ decision to upgrade is based on several factors. Despite Huntington Ingalls experiencing a 10% decline in its stock price over the last three months with minimal news, the analysts see this as an attractive entry opportunity. They highlighted the company's strengths, including clear visibility in top-line growth, the potential for margin improvement, and an expected increase in cash flow and cash return in the coming year.</p>
| NYSE:HII | https://financialmodelingprep.com/market-news/fmp-huntington-ingalls-stock-gains-following-jpmorgan-upgrade | Davit Kirakosyan | Financial Modeling Prep |
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Analysts Warn of Shipment Cuts at ASML Holdings | 2023-09-28 10:19:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ASML'>ASML Holdings (NASDAQ:ASML)</a> shares fell more than 1% pre-market today due to concerns raised by TF International Securities' analysts, who believe that the company will likely make significant reductions in its EUV equipment shipment forecasts for 2024, possibly by 20-30%.</p>
<p>The analysts’ warning is based on several factors, including lower expected demand for Apple's 3nm chips in 2024, reduced demand for Qualcomm's 3nm chips due to Huawei's chip sourcing halt, lower-than-expected demand for Samsung's and Intel's chips, and delays in memory expansion plans by Samsung, Micron, and SK Hynix, now expected to happen between 2025 and 2027.</p>
| NASDAQ:ASML | https://financialmodelingprep.com/market-news/fmp-analysts-warn-of-shipment-cuts-at-asml-holdings- | Davit Kirakosyan | Financial Modeling Prep |
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Costco Reports Better Than Expected Q4 Earnings | 2023-09-27 11:54:00 | <p><a href='https://financialmodelingprep.com/financial-summary/COST'>Costco (NASDAQ:COST)</a> posted Q4 earnings per share (EPS) of $4.86, surpassing the Street forecast of $4.78. The quarterly revenue stood at $78.94 billion, exceeding the Street estimate of $77.72 billion.</p>
<p>The beat was driven by a surge in consumer visits to its stores seeking affordable groceries and essential items. This helped offset the weak demand for high-priced discretionary products.</p>
<p>The members-only retailer has achieved substantial sales growth by offering highly competitive prices on essential products and maintaining a loyal customer base. These factors have contributed to its market share growth despite challenging economic conditions.</p>
<p>While demand for non-essential items like sports equipment and home goods has been sluggish, strong sales in consumables such as fresh foods and candy have bolstered Costco's performance. </p>
| NASDAQ:COST | https://financialmodelingprep.com/market-news/fmp-costco-reports-better-than-expected-q4-earnings | Davit Kirakosyan | Financial Modeling Prep |
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TD Cowen Positive on Levi’s Long Term Growth | 2023-09-27 11:51:00 | <p>TD Cowen analysts started coverage on <a href='https://financialmodelingprep.com/financial-summary/LEVI'>Levi Strauss (NYSE:LEVI)</a> with an Outperform rating and set a price target of $16 per share. As a result, shares gained nearly 3% intra-day today. </p>
<p>The analysts encouraged investors to embrace the potential for global growth as Levi, a renowned denim icon, undergoes a transformation. With its top-ranking brand recognition and market share, Levi's is well-positioned to expand its direct-to-consumer engagement, international presence, and diversify its product offerings beyond denim.</p>
<p>The analysts believe that Levi's is at the beginning of a promising trend in the denim industry, driven by new fits and styles catering to younger and fashion-forward consumers. </p>
<p>TD Cowen anticipates achievable long-term EPS growth of over 12%, supported by more than 6% annual revenue growth and consistent gross margin expansion.</p>
| NYSE:LEVI | https://financialmodelingprep.com/market-news/fmp-td-cowen-positive-on-levi’s-long-term-growth | Davit Kirakosyan | Financial Modeling Prep |
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Deutsche Bank Lowers Tesla Q3 Delivery Estimates | 2023-09-27 11:48:00 | <p>Deutsche Bank analysts suggested that <a href='https://financialmodelingprep.com/financial-summary/TSLA'>Tesla (NASDAQ:TSLA)</a> may fall short of Street expectations in Q3 for deliveries and production figures, primarily due to global plant downtime associated with upgrades and Project Highland.</p>
<p>The analysts revised Q3 delivery estimates downward to 440,000 units, marking a 6% decline compared to the previous estimate of 455,000 units. Looking ahead to 2024, they noted significant downside risk to earnings forecasts, citing a much lower volume outlook than what the market anticipates. </p>
<p>Deutsche Bank envisions Tesla guiding for approximately 2.1 million deliveries next year, which is considerably lower than the market consensus of 2.3 million deliveries.</p>
<p>However, the analysts also highlighted a potential positive aspect: with Tesla not aggressively pursuing higher volumes, there might be reduced pricing pressure in the coming year.</p>
| NASDAQ:TSLA | https://financialmodelingprep.com/market-news/fmp-deutsche-bank-lowers-tesla-q3-delivery-estimates- | Davit Kirakosyan | Financial Modeling Prep |
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Squarespace Stock a Buy at BofA Securities | 2023-09-27 11:44:00 | <p>BofA Securities analysts reiterated their Buy rating on <a href='https://financialmodelingprep.com/financial-summary/SQSP'>Squarespace (NYSE:SQSP)</a> with a price target of $35.00. The analysts believe that Squarespace is well-positioned to capture a larger share of the website building and hosting market, particularly as a design-focused platform targeting "prosumers" – service professionals who are building websites for their small businesses. </p>
<p>The analysts pointed out that the extensive total addressable market (TAM) is highlighted by the diverse range of "prosumers" across various categories, from barbers to wedding photographers.</p>
<p>Furthermore, Squarespace's pricing structure, starting at $24 per month for the base package, provides room for expansion of services while catering to a wide range of potential customers. This strategy sets Squarespace apart from its competitors in the higher-end market, such as Shopify, Wix, and GoDaddy.</p>
| NYSE:SQSP | https://financialmodelingprep.com/market-news/fmp-squarespace-stock-a-buy-at-bofa-securities | Davit Kirakosyan | Financial Modeling Prep |
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SoundHound AI Stock Expected to Grow Over 200% | 2023-09-27 08:46:00 | <p>DA Davidson analysts began covering a stock in the artificial intelligence (AI) sector that they believe is currently undervalued due to its past status as a special purpose acquisition company (SPAC). SPACs, much like initial public offerings (IPOs), are created specifically to take private companies public. However, they have recently faced skepticism due to some high-profile failures. Nonetheless, DA Davidson analysts think this former SPAC has the potential to surge by more than 200%.</p>
<p>DA Davidson initiated coverage on <a href='https://financialmodelingprep.com/financial-summary/SOUN'>SoundHound AI (NASDAQ:SOUN)</a>, a company focused on developing a voice AI platform for creating voice-enabled experiences. They gave it a Buy rating and set a price target of $5. SoundHound AI's closing share price was $1.60 the previous day, implying a significant upside of over 200% based on the price target. Following this initiation report, shares rose more than 7% pre-market today.</p>
<p>DA Davidson's analysts believe that the market isn't fully recognizing SoundHound's growth prospects and view the long-term opportunities as highly attractive and available for the taking. They explained that SoundHound's innovative and independent Voice AI platform is expected to become the industry standard for performance. With improvements in its financial model and the expansion of its sales team, the analysts believe the company is well-positioned to capture a substantial market share and sustain strong growth over the long term.</p>
| NASDAQ:SOUN | https://financialmodelingprep.com/market-news/fmp-soundhound-ai-stock-expected-to-grow-over-200 | Davit Kirakosyan | Financial Modeling Prep |
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NVIDIA’s Current Weakness is a Buying Opportunity | 2023-09-27 08:40:00 | <p>Morgan Stanley analysts see the recent concerns about reduced AI orders from Microsoft for <a href='https://financialmodelingprep.com/financial-summary/NVDA'>NVIDIA (NASDAQ:NVDA)</a> as a buying opportunity. Microsoft's slight adjustments to its 2024 H100 requirements raised worries, but analysts believe strong demand for H100 in various regions, and supply chain reports suggest no immediate drop in demand. </p>
<p>Despite long-term concerns about data center investments, analysts think resolving immediate issues is a good buying opportunity, especially since NVIDIA's earnings remain solid and its stock is attractively priced compared to peers. Expectations for ongoing AI investment, inference growth, and a new product cycle also support this view.</p>
| NASDAQ:NVDA | https://financialmodelingprep.com/market-news/fmp-nvidia’s-current-weakness-is-a-buying-opportunity | Davit Kirakosyan | Financial Modeling Prep |
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DraftKings Stock Gains 3% Following JPMorgan Upgrade | 2023-09-26 12:44:00 | <p><a href='https://financialmodelingprep.com/financial-summary/DKNG'>DraftKings (NASDAQ:DKNG)</a> shares saw more than 3% increase intra-day today after an upgrade by JPMorgan.</p>
<p>The bank upgraded the company from Neutral to Overweight and raised the price target from $26 to $37, suggesting a potential 35% upside from the previous day's closing price.</p>
<p>The upgrade comes in response to DraftKings' underperformance since July, with a 13% decline compared to a 6% drop in the S&P 500. The analysts are optimistic about the sports betting industry's growth potential, both in existing markets and new markets, amid a trend toward better cost control.</p>
<p>The analysts believe DraftKings has a strong competitive position, including a robust product, scale, and brand, that will enable it to compete effectively against new entrants like ESPNBet and Fanatics.</p>
| NASDAQ:DKNG | https://financialmodelingprep.com/market-news/fmp-draftkings-stock-gains-3-following-jpmorgan-upgrade | Davit Kirakosyan | Financial Modeling Prep |
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Microsoft Upgraded at Guggenheim, No Longer Any Sell Ratings on the Stock | 2023-09-26 12:41:00 | <p>Guggenheim analysts changed their rating on <a href='https://financialmodelingprep.com/financial-summary/MSFT'>Microsoft (NASDAQ:MSFT)</a> shares, upgrading them from Sell to Neutral. As a result, there are no longer any analysts on the sell side providing a Sell or equivalent rating for Microsoft.</p>
<p>The analysts acknowledged that their previous recommendation to sell Microsoft was a significant misjudgment. The analysts admitted their mistake, stating that they had reservations about potential challenges that, in the end, did not materialize. Nevertheless, they find the positive outlook for Generative AI too strong to ignore.</p>
<p>These challenges encompassed difficulties faced by the Windows operating system and the broader PC market, which initially saw a boost in demand during the COVID-19 pandemic but eventually revealed that this surge was unsustainable, according to the analysts.</p>
| NASDAQ:MSFT | https://financialmodelingprep.com/market-news/fmp-microsoft-upgraded-at-guggenheim-no-longer-any-sell-ratings-on-the-stock- | Davit Kirakosyan | Financial Modeling Prep |
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Oppenheimer Raises Price Target on Domino's Pizza Stock | 2023-09-26 12:36:00 | <p>Analysts at Oppenheimer increased <a href='https://financialmodelingprep.com/financial-summary/DPZ'>Domino's Pizza (NYSE:DPZ)</a> price target to $450 from $427 and maintained their Outperform rating. </p>
<p>The analysts see Domino's as a comeback story for 2024, with potential for better-than-expected same-store sales and positive earnings revisions, unit growth, and investor confidence. </p>
<p>They had previously been less bullish but now believe the downward trend has bottomed out, although they don’t anticipate a Q3/23 upside surprise.</p>
| NYSE:DPZ | https://financialmodelingprep.com/market-news/fmp-oppenheimer-raises-price-target-on-dominos-pizza-stock | Davit Kirakosyan | Financial Modeling Prep |
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Micron Stock a Buy at Rosenblatt | 2023-09-26 12:33:00 | <p>Rosenblatt analysts reaffirmed their Buy rating and a $100 price target for <a href='https://financialmodelingprep.com/financial-summary/MU'>Micron Technology (NASDAQ:MU)</a>. The analysts anticipate that Micron will report August quarter results in line with expectations, accompanied by guidance supporting modest single-digit sequential sales growth. They noted that the company is experiencing gradual improvements in bit demand and stable DRAM/NAND ASPs, which are offsetting challenges related to China's "CAC" (Common Alternating Current) restrictions.</p>
<p>The analysts observe that cuts in industry capital expenditures (CapEx) and wafer starts are beginning to affect the supply-demand balance, with the potential for demand to surpass supply in late 2023. This shift is driven by the scaling of newer AI-centric segments and reduced inventory digestion headwinds in broader demand.</p>
<p>The analysts are optimistic about Micron's prospects in 2024 due to significant growth in memory content, driven by the expansion of AI, which relies on increased memory capacity and speed. </p>
| NASDAQ:MU | https://financialmodelingprep.com/market-news/fmp-micron-stock-a-buy-at-rosenblatt- | Davit Kirakosyan | Financial Modeling Prep |
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Global Equities Research Estimates Robust Q4 Performance for Tesla | 2023-09-26 10:40:00 | <p>Global Equities Research reiterated its Overweight rating and set a price target of $350.00 for <a href='https://financialmodelingprep.com/financial-summary/TSLA'>Tesla (NASDAQ:TSLA)</a>. The analysts expect a robust fourth-quarter performance from the electric vehicle manufacturer, citing several factors.</p>
<p>The analysts noted that the Fremont Factory's shutdown in the third quarter of 2023 was shorter than expected, lasting only 4 days instead of the previously anticipated 3 weeks mentioned during the Q2/23 Earnings Call by Elon Musk. Tesla is steadily increasing its market share, particularly against competitors like Honda and Toyota, and the analysts anticipate this trend will continue to strengthen.</p>
<p>The analysts believe that Tesla is on track to dominate 90% of the electric vehicle (EV) market. They highlighted the importance of having Giga-Scale facilities, in which Tesla excels with its Giga Factories.</p>
<p>Demand for Tesla's Model S is exceptionally high, with particular popularity among families with children. The analysts predict that the third quarter of 2023 will see record-breaking sales of the Model S Plaid, especially models with an MSRP exceeding $90,000.</p>
| NASDAQ:TSLA | https://financialmodelingprep.com/market-news/fmp-global-equities-research-estimates-robust-q4-performance-for-tesla | Davit Kirakosyan | Financial Modeling Prep |
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Rivian a Bullish Fresh Pick at Baird | 2023-09-26 10:37:00 | <p>Baird Equity Research analysts selected <a href='https://financialmodelingprep.com/financial-summary/RIVN'>Rivian Automotive (NASDAQ:RIVN)</a> as a "bullish fresh pick" for the third quarter, indicating an optimistic outlook. </p>
<p>The analysts anticipate that the company will surpass consensus expectations. They see third-quarter deliveries as a short-term catalyst and expect improved investor sentiment as Rivian benefits from cost advantages resulting from an enhanced supply chain and the use of in-house components.</p>
<p>Despite Rivian's decision to no longer disclose preorder figures, recent statements from the company's management suggest that demand remains strong, particularly for the R1S model. Baird estimates that the waiting time for an R1S is around 12 months, with slightly shorter lead times for the R1T. According to Baird's analysis, Rivian is likely to grapple with supply constraints relative to demand until 2024.</p>
| NASDAQ:RIVN | https://financialmodelingprep.com/market-news/fmp-rivian-a-bullish-fresh-pick-at-baird | Davit Kirakosyan | Financial Modeling Prep |
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AT&T Stock a Strong Buy at Raymond James | 2023-09-25 12:58:00 | <p>Raymond James analysts updated their Analyst Current Favorites list, which showcases preferred stock recommendations from the Equity Research team. In the latest update, they've included <a href='https://financialmodelingprep.com/financial-summary/T'>AT&T (NYSE:T)</a>, a telecom company facing recent challenges.</p>
<p>The analysts at Raymond James have given AT&T a Strong Buy rating with a $25 price target, indicating a potential upside of more than 65% based on the closing price last Friday.</p>
<p>According to the firm, AT&T has become their Analyst Current Favorite because they see positive short-term prospects and expect investors to respond positively to the upcoming earnings results. They anticipate growth in free cash flow (FCF) throughout the year and a favorable trend in post-paid wireless subscribers during the latter part of the year, aligning with recent statements from the company's management. These developments are considered pivotal factors driving the stock's outlook.</p>
| NYSE:T | https://financialmodelingprep.com/market-news/fmp-at&t-stock-a-strong-buy-at-raymond-james | Davit Kirakosyan | Financial Modeling Prep |
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Nike Stock Receives Another Downgrade | 2023-09-25 12:52:00 | <p><a href='https://financialmodelingprep.com/financial-summary/NKE'>Nike (NYSE:NKE)</a> received its fourth downgrade on Wall Street this year, with Jefferies analysts cutting the footwear giant’s rating from Buy to Hold and lowering the price target from $140 to $100. </p>
<p>The analysts cited increased risk for Nike, pointing to continued pressure on the wholesale channel and macroeconomic challenges in China. The findings from a Jefferies consumer survey also indicated that American consumers may reduce their spending in the near future, particularly on clothing and footwear.</p>
<p>The analysts noted that while retail inventory has improved overall, tight inventory management may persist through the end of the year, leading to fewer replenishment orders and putting pressure on Nike's wholesale channel. </p>
<p>Despite Nike's efforts to boost direct-to-consumer (DTC) sales, the current consumer climate could impede progress, potentially jeopardizing the company's goal of achieving a high-teens operating margin by fiscal 2025.</p>
| NYSE:NKE | https://financialmodelingprep.com/market-news/fmp-nike-stock-receives-another-downgrade | Davit Kirakosyan | Financial Modeling Prep |
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Dow Earns an Upgrade at JPMorgan | 2023-09-25 12:50:00 | <p><a href='https://financialmodelingprep.com/financial-summary/DOW'>Dow (NYSE:DOW)</a> was upgraded by JP Morgan analysts, who raised the rating on the industrial conglomerate from Neutral to Overweight and maintained a $55 price target. The upgrade was based on Dow's attractive dividend, with the stock offering a 5.6% dividend yield and a reasonable valuation. </p>
<p>The analysts noted that recent declines in equity values have created an opportunity for investors to buy Dow shares at a favorable valuation. They highlighted Dow's strong balance sheet, a low earnings profile in the current cycle, and the potential for positive responses to higher oil prices.</p>
<p>The analysts also pointed out that Dow's stock price had not followed the upward trend in oil prices, remaining lower than at the end of June. This divergence from oil price movements is significant because rising oil prices typically benefit high-cost producers and North American companies that use natural gas liquids as feedstock, leading to increased profitability.</p>
| NYSE:DOW | https://financialmodelingprep.com/market-news/fmp-dow-earns-an-upgrade-at-jpmorgan- | Davit Kirakosyan | Financial Modeling Prep |
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Bloom Energy a Buy Stock at HSBC, Stock Gains 2% | 2023-09-25 12:47:00 | <p><a href='https://financialmodelingprep.com/financial-summary/BE'>Bloom Energy (NYSE:BE)</a> share rose more than 2% intra-day today after HSBC analysts started coverage on the company with a Buy rating and a price target of $22.00. </p>
<p>The analysts’ rationale for this rating is based on several factors, including a favorable legislative environment, the global shift toward a clean hydrogen economy, international expansion efforts, new market opportunities, and the development of new sales channels. Additionally, Bloom Energy has a new manufacturing facility ready to scale, positioning itself to meet the growing demand for clean energy solutions.</p>
| NYSE:BE | https://financialmodelingprep.com/market-news/fmp-bloom-energy-a-buy-stock-at-hsbc-stock-gains-2 | Davit Kirakosyan | Financial Modeling Prep |
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Nio Shares Drop 5% Amid Reports of Possible $3 Billion Fundraising Move | 2023-09-25 08:50:00 | <p>Chinese electric vehicle manufacturer <a href='https://financialmodelingprep.com/financial-summary/NIO'>Nio (NYSE:NIO)</a> saw a more than 5% drop in pre-market trading following reports that the company is contemplating raising an additional $3 billion from investors. </p>
<p>According to unnamed sources familiar with the matter cited by Bloomberg, Nio has approached Middle Eastern investors for potential fundraising, which could take place as early as next year. However, these discussions are still ongoing, subject to change, and there is no certainty that Nio will proceed with the fundraising. </p>
<p>Back in June, Nio successfully raised approximately $738 million by selling shares to CYVN Holdings LLC in Abu Dhabi. More recently, just earlier this month, the company secured $1 billion through the issuance of convertible bonds, which subsequently led to nearly a 20% decline in the value of its shares.</p>
| NYSE:NIO | https://financialmodelingprep.com/market-news/fmp-nio-shares-drop-5-amid-reports-of-possible-$3-billion-fundraising-move | Davit Kirakosyan | Financial Modeling Prep |
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Alector Started With a Sell Rating at Goldman Sachs | 2023-09-25 08:48:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ALEC'>Alector (NASDAQ:ALEC)</a> shares dropped more than 4% pre-market today after Goldman Sachs analysts started coverage on the company with a Sell rating and a price target of $4.00.</p>
<p>The analysts expressed significant concerns about the company's lead clinical-stage programs, latozinemab for Frontotemporal Dementia and AL002 for Alzheimer's disease. While acknowledging the mechanistic rationale behind both agents, there is limited data supporting their translation into clinical benefits. </p>
<p>Both latozinemab and AL002 enhance the activity of specific targets known to be reduced in patients with FTD and AD, but it's uncertain whether increasing these levels directly leads to clinical improvement. </p>
<p>Furthermore, the analysts noted that data from both programs won't be reported until late 2024 or 2025, creating a substantial catalyst gap before potentially de-risking results. </p>
| NASDAQ:ALEC | https://financialmodelingprep.com/market-news/fmp-alector-started-with-a-sell-rating-at-goldman-sachs- | Davit Kirakosyan | Financial Modeling Prep |
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Barclays Expects Tesla Q3 Deliveries to Miss Estimates | 2023-09-22 12:34:00 | <p>Barclays analysts reiterated an Equalweight rating on <a href='https://financialmodelingprep.com/financial-summary/TSLA'>Tesla (NASDAQ:TSLA)</a> and maintained a price target of $260. The analysts anticipate that Tesla's Q3 deliveries will fall short of Street expectations, with the company delivering around 455,000 units compared to the Street estimate of 463,000 units. </p>
<p>The analysts also noted that Q3 production is expected to be around 435,000 units, a significant decrease from the previous quarter. The analysts suggest that Tesla's inventory may have decreased due to ongoing discounting and slowed production. Additionally, they highlighted that margins will be closely scrutinized, with questions about whether the second quarter represented the low point. Looking ahead, the analysts suggest that Q4 may see some recovery from the weaknesses observed in Q3.</p>
| NASDAQ:TSLA | https://financialmodelingprep.com/market-news/fmp-barclays-expects-tesla-q3-deliveries-to-miss-estimates | Davit Kirakosyan | Financial Modeling Prep |
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International Paper Company Raised to Buy at Truist | 2023-09-22 12:32:00 | <p>Truist upgraded International <a href='https://financialmodelingprep.com/financial-summary/IP'>Paper Company (NYSE:IP)</a> from Hold to Buy and has raised the price target from $30 to $43 per share in a note to clients. According to the analysts, the containerboard market has broken free from its constraints, and they are optimistic now that the trough has been reached. </p>
<p>The analysts believe the containerboard market is at a turning point, ready for recovery due to improving demand after destocking and more balanced inventories. Despite the slow absorption of new containerboard supply, economic growth, and rising demand should counteract this, leading to stable pricing. </p>
<p>Truist considers IP the preferred stock for participating in this market recovery, citing greater operating leverage and more potential upside compared to peers.</p>
| NYSE:IP | https://financialmodelingprep.com/market-news/fmp-international-paper-company-raised-to-buy-at-truist- | Davit Kirakosyan | Financial Modeling Prep |
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Meta Platforms a Top Pick at Citi | 2023-09-22 12:30:00 | <p>Citi analysts reaffirmed a Buy rating and a $385.00 price target for <a href='https://financialmodelingprep.com/financial-summary/META'>Meta Platforms (NASDAQ:META)</a>. The analysts noted that Reels ad loads have reached 19% quarter-to-date, up from 17% in the second quarter, based on their proprietary tracking. They believe Meta is gaining a larger share of the online advertising market due to increased ad units, strong advertiser demand, and a healthier online advertising environment. </p>
<p>According to their data, ad loads have grown to 18% in July, 19% in August, and around 20% in September. The analysts anticipate further upside potential as engagement continues to rise, especially with the growing popularity of Reels' Lo-Fi ad environment. </p>
<p>Citi also initiated a 90-day Positive Catalyst Watch ahead of Meta Connect on 09/27, where they expect to receive more information about Meta's GenAI plans and results in late October. Overall, Meta remains Citi's top pick in the Internet sector, and they would recommend buying on any significant share price pullback.</p>
| NASDAQ:META | https://financialmodelingprep.com/market-news/fmp-meta-platforms-a-top-pick-at-citi | Davit Kirakosyan | Financial Modeling Prep |
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Beyond Meat is an Underweight at Piper Sandler | 2023-09-22 12:28:00 | <p>Piper Sandler analysts lowered <a href='https://financialmodelingprep.com/financial-summary/BYND'>Beyond Meat (NASDAQ:BYND)</a> price target from $6.00 to $3.00 while maintaining an Underweight rating. The analysts' bearish outlook is based on ongoing pressure on EBITDA margins and a lack of significant sales growth.</p>
<p>Recent data shows a 19% revenue decline in the past eight weeks. This, coupled with volume and price decreases since January 2022, raises concerns about distribution and shelf space. Piper Sandler expects further near-term downside and has adjusted 2023 estimated sales from $375 million to $370 million and 2024 sales from $400 million to $375 million.</p>
| NASDAQ:BYND | https://financialmodelingprep.com/market-news/fmp-beyond-meat-is-an-underweight-at-piper-sandler | Davit Kirakosyan | Financial Modeling Prep |
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Ralph Lauren is an Outperform Stock at Raymond James | 2023-09-22 11:22:00 | <p>Raymond James initiated coverage of <a href='https://financialmodelingprep.com/financial-summary/RL'>Ralph Lauren (NYSE:RL)</a> with an Outperform rating and a price target of $135 per share. According to the analysts, Ralph Lauren has made significant advancements in recent years, including enhancing its brand image, optimizing wholesale distribution, strengthening its direct-to-consumer (DTC) operations, and boosting gross margin percentages. </p>
<p>The analysts anticipate the company will achieve moderate revenue growth, driven by factors like higher average unit retail prices, increased unit volume in key global markets, and expansion into untapped product categories. </p>
<p>While their revenue projections for fiscal 2024 and 2025 align with market estimates, the analysts are slightly below RL's target algorithm due to challenging macroeconomic conditions in North America. Nevertheless, the analysts highlighted Ralph Lauren's cost-saving initiatives and enhanced discipline, which could lead to improved profit margins. With modest expectations for RL and an attractive valuation, Raymond James believes it's a favorable entry point for investors.</p>
| NYSE:RL | https://financialmodelingprep.com/market-news/fmp-ralph-lauren-is-an-outperform-stock-at-raymond-james | Davit Kirakosyan | Financial Modeling Prep |
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Boeing Stock Cut to Hold at CFRA | 2023-09-22 11:18:00 | <p>CFRA analysts downgraded <a href='https://financialmodelingprep.com/financial-summary/BA'>Boeing (NYSE:BA)</a> from Buy to Hold and reduced the price target from $253 to $210 per share. The analysts cited several quality control issues in the aerospace industry that are expected to have some impact on Boeing's delivery schedule. The expected loss per share for 2023 has been increased by $2.39 to -$3.29, and the earnings per share estimate for 2024 has been lowered by $0.63 to $5.39. </p>
<p>While Boeing aims to deliver 50 of its 737 planes per month by 2025-2026, the analysts noted that the current guidance remains below early 2019 levels, and Boeing's stock is currently trading at a higher valuation than it was in early 2019. Nevertheless, CFRA maintains a positive long-term outlook for aircraft demand, estimating that approximately 76% of the global fleet from 2022 will need replacement by 2042.</p>
| NYSE:BA | https://financialmodelingprep.com/market-news/fmp-boeing-stock-cut-to-hold-at-cfra | Davit Kirakosyan | Financial Modeling Prep |
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Broadcom Stock Drops 2% on Possible Partnership End With Alphabet | 2023-09-21 11:40:00 | <p><a href='https://financialmodelingprep.com/financial-summary/GOOGL'>Alphabet (NASDAQ:GOOGL)</a> is reportedly considering ending its reliance on <a href='https://financialmodelingprep.com/financial-summary/AVGO'>Broadcom (NASDAQ:AVGO)</a> as a supplier of high-end chips, specifically the AI chips known as tensor processing units (TPUs). The Information reported that Google is contemplating an in-house design approach for TPUs, which could be implemented as early as 2027.</p>
<p>Following the report, Broadcom shares fell more than 2% intra-day today.</p>
<p>This potential shift is driven by a pricing dispute between Google and Broadcom, prompting Google's executives to seek alternatives and explore the development of its own TPUs. Broadcom's CEO, Hock Tan, recently mentioned that generative AI might account for over 25% of the company's semiconductor revenue in the coming year.</p>
<p>If Google decides to terminate its partnership with Broadcom, it could lead to substantial cost savings for the tech giant, potentially reaching billions of dollars annually.</p>
| NASDAQ:GOOGL, NASDAQ:AVGO | https://financialmodelingprep.com/market-news/fmp-broadcom-stock-drops-2-on-possible-partnership-end-with-alphabet | Davit Kirakosyan | Financial Modeling Prep |
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Five9 Upgraded to Buy at Deutsche Bank | 2023-09-21 11:37:00 | <p>Deutsche Bank analysts revised their position on the software company <a href='https://financialmodelingprep.com/financial-summary/FIVN'>Five9 (NASDAQ:FIVN)</a> in a note issued on Thursday. The firm has upgraded its rating from Hold to Buy and increased the price target for Five9's shares from $75 to $80 per share. This adjustment suggests a potential 20% upside for the stock.</p>
<p>The analysts explained that the recent strength in bookings is expected to reinvigorate the company's revenue growth, and the current valuation is roughly half of what it was a year ago.</p>
<p>Earlier in the week, Canaccord analysts also expressed a positive view on Five9, stating that the stock appears undervalued and is a high-conviction buy in a market that is increasingly embracing AI.</p>
<p>While Deutsche Bank acknowledges certain risks and bearish arguments, including potential short-term macroeconomic challenges and concerns related to AI and automation, it believes that the recent share price pullback creates a more attractive risk-reward profile for investors.</p>
| NASDAQ:FIVN | https://financialmodelingprep.com/market-news/fmp-five9-upgraded-to-buy-at-deutsche-bank | Davit Kirakosyan | Financial Modeling Prep |
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Mizuho is Enthusiastic About Western Digital | 2023-09-21 11:30:00 | <p>Mizuho analysts are enthusiastic about <a href='https://financialmodelingprep.com/financial-summary/WDC'>Western Digital (NASDAQ:WDC)</a> as a strong long-term investment. They see the company as a compelling opportunity due to under-ownership and the positive impact of NAND production cutbacks on spot pricing. </p>
<p>The analysts believe that Western Digital's NAND business is poised for growth, with rising spot pricing and increased NAND demand from smartphone manufacturers. Additionally, they noted the impending split of Western Digital's business, with the NAND division set to merge with Kioxia, potentially boosting its valuation. </p>
| NASDAQ:WDC | https://financialmodelingprep.com/market-news/fmp-mizuho-is-enthusiastic-about-western-digital | Davit Kirakosyan | Financial Modeling Prep |
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Lululemon Athletica’s Strong Buy Rating Reiterated at Raymond James | 2023-09-21 11:28:00 | <p>Raymond James analysts reaffirmed their Strong Buy rating on <a href='https://financialmodelingprep.com/financial-summary/LULU'>Lululemon Athletica (NASDAQ:LULU)</a> and maintained a price target of $440.00.</p>
<p>The analysts’ assessment highlighted Lululemon's status as one of the highest-quality companies in the global brand landscape. They recognize Lululemon as a robust and still-evolving brand with substantial growth opportunities. </p>
<p>The analysts pointed out that Lululemon boasts one of the highest growth rates compared to its peers as it continues to expand its core business and diversify across various geographies, categories, and sales channels. Additionally, the company's operating margins rank among the highest for global brands, and the analysts believe there is room for further expansion, driven by strong revenue growth, which should lead to earnings-per-share (EPS) growth surpassing revenue growth.</p>
| NASDAQ:LULU | https://financialmodelingprep.com/market-news/fmp-lululemon-athletica’s-strong-buy-rating-reiterated-at-raymond-james- | Davit Kirakosyan | Financial Modeling Prep |
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Splunk Stock Jumps 20% on Cisco’s Acquisition Announcement | 2023-09-21 08:56:00 | <p><a href='https://financialmodelingprep.com/financial-summary/CSCO'>Cisco Systems (NASDAQ:CSCO)</a> and <a href='https://financialmodelingprep.com/financial-summary/SPLK'>Splunk (NASDAQ:SPLK)</a> have reached a definitive agreement, with Cisco planning to purchase Splunk for $157 per share in cash, amounting to a total transaction value of approximately $28 billion. This announcement caused Cisco's stock to drop by nearly 5%, while Splunk shares jumped more than 20% pre-market today.</p>
<p>Once the acquisition is finalized, Gary Steele, the current President and CEO of Splunk, will join Cisco's Executive Leadership Team, reporting to Chair and CEO Chuck Robbins. The transaction is anticipated to close by the end of the third quarter of the 2024 calendar year. Cisco expects the acquisition to have a positive impact on cash flow and gross margin in the first fiscal year after completion, with non-GAAP earnings per share (EPS) becoming accretive in the second year.</p>
| NASDAQ:CSCO, NASDAQ:SPLK | https://financialmodelingprep.com/market-news/fmp-splunk-stock-jumps-20-on-cisco’s-acquisition-announcement | Davit Kirakosyan | Financial Modeling Prep |
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Rio Tinto's Share Price Expected to Increase in the Next 60 Days | 2023-09-21 08:53:00 | <p>Morgan Stanley analysts reaffirmed an Overweight rating for <a href='https://financialmodelingprep.com/financial-summary/RIO'>Rio Tinto (NYSE:RIO)</a>. The bank's assessment suggests that Rio Tinto's share price is poised to increase over the next 60 days.</p>
<p>The analysts anticipate that Rio Tinto will benefit from higher projected prices for iron ore and copper, given its significant revenue exposure to these commodities (estimated 55% for iron ore and 12% for copper in 2023). </p>
<p>The analysts believe there is a potential for the stock's valuation to rise closer to their price target of A$135 per share, with an estimated 60% to 70% probability of this scenario occurring.</p>
| NYSE:RIO | https://financialmodelingprep.com/market-news/fmp-rio-tintos-share-price-expected-to-increase-in-the-next-60-days | Davit Kirakosyan | Financial Modeling Prep |
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Pinterest Stock Jumps 4% Following Two Upgrades | 2023-09-20 11:35:00 | <p><a href='https://financialmodelingprep.com/financial-summary/PINS'>Pinterest (NYSE:PINS)</a> saw more than a 4% surge intra-day today after two Wall Street analysts upgraded it to a Buy rating. They were impressed by Pinterest's recent investor event, highlighting its positive outlook and reasonable long-term goals.</p>
<p>Citi analysts upgraded the stock to Buy from Neutral with a $36 price target, citing confidence in sustained user engagement, improved advertising monetization, and expanded adjusted EBITDA margins.</p>
<p>DA Davidson analysts raised the rating to Buy from Neutral and increased the price target to $35. The analysts' upgrade is based on their confidence in Pinterest's ability to meet financial targets by enhancing engagement, monetization across regions, and maintaining financial discipline.</p>
| NYSE:PINS | https://financialmodelingprep.com/market-news/fmp-pinterest-stock-jumps-4-following-two-upgrades | Davit Kirakosyan | Financial Modeling Prep |
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IBM Rated Outperform at RBC Capital, Stock Surges 3% | 2023-09-20 11:30:00 | <p>RBC initiated coverage on <a href='https://financialmodelingprep.com/financial-summary/IBM'>IBM (NASDAQ:IBM)</a> with an Outperform rating and a $188 per share price target, the highest on the Street. As a result, shares rose around 3% intra-day today.</p>
<p>RBC is optimistic about IBM's competitive position in the tech industry, particularly its role in enabling efficient digital transformations through consulting and software. They believe IBM's software business is undervalued, especially in hybrid environments, artificial intelligence (AI), and cost optimization.</p>
<p>The analysts pointed out that while investors often see IBM as a hardware and services company, the company's software business, with over $20 billion in revenue and high single-digit growth, is poised to become a more significant part of its overall revenue, leading to improved profitability.</p>
| NASDAQ:IBM | https://financialmodelingprep.com/market-news/fmp-ibm-rated-outperform-at-rbc-capital-stock-surges-3 | Davit Kirakosyan | Financial Modeling Prep |
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Micron Technology’s Price Target Raised Ahead of Q4 Earnings Report | 2023-09-20 11:28:00 | <p>Goldman Sachs analysts increased their price target for <a href='https://financialmodelingprep.com/financial-summary/MU'>Micron Technology (NASDAQ:MU)</a> to $85.00 from $80.00 while maintaining a Buy rating ahead of the company's Q4 earnings release, scheduled for September 27. </p>
<p>Despite revising down their 2024 revenue and earnings estimates, the analysts anticipate that improving demand trends and disciplined supply management will drive higher pricing, leading to improved margins, earnings per share (EPS), and sustained stock price outperformance in the coming quarters.</p>
<p>Additionally, the analysts believe that greater clarity about Micron's High Bandwidth Memory (HBM) strategy and roadmap will serve as a positive catalyst for the stock. </p>
| NASDAQ:MU | https://financialmodelingprep.com/market-news/fmp-micron-technology’s-price-target-raised-ahead-of-q4-earnings-report | Davit Kirakosyan | Financial Modeling Prep |
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CVS Health Raised to Outperform Rating at Evercore | 2023-09-20 11:25:00 | <p><a href='https://financialmodelingprep.com/financial-summary/CVS'>CVS Health (NYSE:CVS)</a> saw a nearly 2% gain yesterday as Evercore ISI analysts upgraded their rating on the healthcare company from in line to outperform. Alongside the rating upgrade, they also increased the price target for CVS shares from $81 to $83, citing an improved outlook and an attractive valuation.</p>
<p>The analysts acknowledged that CVS is a complex organization but pointed out several factors that are moving in a positive direction. In the previous month, CVS Health maintained its adjusted profit outlook for the current year, despite anticipating that its medical benefit ratio, a measure of claims versus premiums collected, would be at the higher end of its 2023 guidance due to elevated medical costs.</p>
| NYSE:CVS | https://financialmodelingprep.com/market-news/fmp-cvs-health-raised-to-outperform-rating-at-evercore- | Davit Kirakosyan | Financial Modeling Prep |
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General Mills Reports Better Than Expected Q1 Earnings Results | 2023-09-20 09:17:00 | <p><a href='https://financialmodelingprep.com/financial-summary/GIS'>General Mills (NYSE:GIS)</a> reported a decline in adjusted earnings for the first quarter, but it still exceeded expectations. This achievement can be attributed to the stabilization of supply chains and the resilience of consumers in the face of inflationary pressures.</p>
<p>In the first quarter, General Mills reported earnings per share (EPS) of $1.09, surpassing the analyst estimate of $1.08. The company's revenue for the quarter reached $4.9 billion, slightly ahead of the Street estimate of $4.89 billion.</p>
<p>Furthermore, General Mills has reaffirmed its outlook for the fiscal year 2024, expressing confidence in driving organic net sales growth through robust marketing, innovation, in-store support, and effective pricing strategies. The company also expects a moderation in the rate of input cost inflation, along with a reduction in disruptions within its supply chains.</p>
<p>General Mills anticipates organic net sales growth of 3 to 4 percent and projects a 4 to 6 percent increase in both adjusted operating profit and adjusted diluted EPS in constant currency.</p>
| NYSE:GIS | https://financialmodelingprep.com/market-news/fmp-general-mills-reports-better-than-expected-q1-earnings-results- | Davit Kirakosyan | Financial Modeling Prep |
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Dollar General Downgraded to Underweight at JPMorgan | 2023-09-20 09:15:00 | <p>JPMorgan analysts downgraded <a href='https://financialmodelingprep.com/financial-summary/DG'>Dollar General (NYSE:DG)</a> to Underweight from Neutral and reduced the price target to $116.00 from $132.00.</p>
<p>The bank's rationale includes the financial stress faced by Dollar General's core customer base, with an average household income of $35,000. This strain results from factors like dwindling pandemic-related savings, ongoing inflationary pressures (a 12% increase over a 2-year period), and a reduction of about $40 billion in government assistance. Furthermore, Dollar General's management foresees middle-income customers depleting their excess savings by the end of Fall 2023 due to upcoming student loan repayments, higher interest rates, and rising fuel costs.</p>
| NYSE:DG | https://financialmodelingprep.com/market-news/fmp-dollar-general-downgraded-to-underweight-at-jpmorgan | Davit Kirakosyan | Financial Modeling Prep |
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Disney Announces Plans to Expand Investment in Parks, Shares Drop 3% | 2023-09-19 12:21:00 | <p><a href='https://financialmodelingprep.com/financial-summary/DIS'>Walt Disney (NYSE:DIS)</a> announced its intention to significantly increase investments in its Disney Parks, Experiences, and Products segment. Over approximately a decade, Disney plans to nearly double its capital expenditure for this segment, committing to invest around $60 billion. The stock fell more than 3% intra-day today in response to this announcement.</p>
<p>These expansion plans involve enhancing both domestic and international parks and cruise line capacity, with a focus on projects expected to deliver strong returns. Disney cites its strong financial condition, including cash reserves, access to capital markets, and borrowing capacity, as the basis for these investments. This financial strength ensures the company can meet various financial obligations and support the growth of existing businesses and new projects.</p>
| NYSE:DIS | https://financialmodelingprep.com/market-news/fmp-disney-announces-plans-to-expand-investment-in-parks-shares-drop-3 | Davit Kirakosyan | Financial Modeling Prep |
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Lazard Stock Falls 2% on Goldman Sachs Downgrade | 2023-09-19 12:20:00 | <p><a href='https://financialmodelingprep.com/financial-summary/LAZ'>Lazard (NYSE:LAZ)</a> share fell more than 2% intra-day today after Goldman Sachs analysts downgraded the company to Sell from Neutral, setting a price target of $32.00, down from $37.00. </p>
<p>The analysts believe that Lazard's valuation is slightly elevated compared to its historical average, despite trading in line with peers. Given the company's challenging growth outlook, particularly in the near term, the analysts see this valuation as concerning. </p>
<p>Lazard's current valuation is at Goldman’s 9.5x Q5-Q8 EPS estimates, similar to its historical average, while peers trade at a 1.3x premium above their historical average. </p>
| NYSE:LAZ | https://financialmodelingprep.com/market-news/fmp-lazard-stock-falls-2-on-goldman-sachs-downgrade | Davit Kirakosyan | Financial Modeling Prep |
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AutoZone Reports Better Than Expected Q4 Results | 2023-09-19 12:17:00 | <p><a href='https://financialmodelingprep.com/financial-summary/AZO'>AutoZone (NYSE:AZO)</a>, a prominent automotive replacement parts and accessories retailer and distributor, announced its fourth-quarter financial results, surpassing analysts' expectations.</p>
<p>In the fourth quarter, AutoZone reported earnings per share of $46.46, exceeding the Street estimate of $45.22. The company's quarterly revenue amounted to $5.69 billion, surpassing the Street estimate of $5.62 billion. The company experienced a 1.7% increase in U.S. same-store sales.</p>
<p>CEO Bill Rhodes commented on the results, acknowledging a slow start to the quarter but highlighting improvements in the latter part of the period. He expressed confidence that the company's ongoing initiatives will drive stronger growth in fiscal 2024, despite lower-than-expected growth in domestic Commercial.</p>
| NYSE:AZO | https://financialmodelingprep.com/market-news/fmp-autozone-reports-better-than-expected-q4-results | Davit Kirakosyan | Financial Modeling Prep |
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Stitch Fix Stock Jumps 9% Despite Disappointing Quarterly Results | 2023-09-19 12:15:00 | <p><a href='https://financialmodelingprep.com/financial-summary/SFIX'>Stitch Fix (NASDAQ:SFIX)</a> saw a more than 9% increase in its stock intra-day today despite disappointing Q4 results and guidance.</p>
<p>The company reported a loss per share of 24 cents, worse than the anticipated loss of 21 cents. In terms of revenue, Stitch Fix generated $375.8 million for the quarter, slightly above the Street estimate of $371.2 million.</p>
<p>CEO Matt Baer expressed a commitment to achieving the company's full potential and driving long-term, profitable growth despite the current business results.</p>
<p>Looking ahead, Stitch Fix forecasts Q1/24 revenue to range between $355 million and $365 million, lower than the Street estimate of $402 million. For the full fiscal year 2024, the company projects revenue between $1.3 billion and $1.37 billion, falling short of the Street estimate of $1.63 billion.</p>
| NASDAQ:SFIX | https://financialmodelingprep.com/market-news/fmp-stitch-fix-stock-jumps-9-despite-disappointing-quarterly-results | Davit Kirakosyan | Financial Modeling Prep |
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Carnival Receives an Upgrade Ahead of Q3 Earning Report | 2023-09-19 08:46:00 | <p>The analysts at Truist Securities upgraded <a href='https://financialmodelingprep.com/financial-summary/CCL'>Carnival Corporation (NYSE:CCL)</a> from a Sell rating to a Hold rating, with a revised price target of $17.00, up from $16.00.</p>
<p>The analysts explain this upgrade, stating that while Carnival remains a relative underperformer, it's challenging to justify a Sell rating when the overall industry is expected to benefit from favorable conditions. They noted that Europe is demonstrating particular strength for 2024, and Carnival has significant exposure to this market. However, the analysts also pointed out that increased competition from the "industry disruptor" MSC Cruises poses a challenge to Carnival.</p>
<p>The analysts increased the earnings per share (EPS) projections for Carnival to $1.20 for 2024 (up from $1.13) and $1.67 for 2025 (up from $1.57). This adjustment is primarily driven by expectations of further debt reduction, partially offset by higher fuel expenses. The company is scheduled to report its Q3/23 earnings on Sept 28. </p>
| NYSE:CCL | https://financialmodelingprep.com/market-news/fmp-carnival-receives-an-upgrade-ahead-of-q3-earning-report | Davit Kirakosyan | Financial Modeling Prep |
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Starbucks Stock Downgraded to Market Perform | 2023-09-19 08:43:00 | <p>TD Cowen analysts downgraded <a href='https://financialmodelingprep.com/financial-summary/SBUX'>Starbucks (NYSE:SBUX)</a> from Outperform to Market Perform, with a reduced price target of $107 per share. This move resulted in more than a 1% decline in Starbucks' stock price pre-market today. </p>
<p>The downgrade is primarily driven by concerns about economic and competitive pressures in China affecting the company's same-store sales. The analysts believe that while consensus earnings estimates for 2023-2025 remain attainable, Starbucks' current valuation doesn't adequately account for these challenges, and they anticipate the stock will experience limited growth in the near term.</p>
| NYSE:SBUX | https://financialmodelingprep.com/market-news/fmp-starbucks-stock-downgraded-to-market-perform- | Davit Kirakosyan | Financial Modeling Prep |
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Micron Technology Stock is a Buy at Deutsche Bank | 2023-09-18 12:05:00 | <p>Deutsche Bank analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/MU'>Micron Technology (NASDAQ:MU)</a> to Buy from Hold and raised its price target to $85.00 from $65.00.</p>
<p>The analysts cited a faster-than-expected improvement in the pricing of its primary DRAM chips. They noted that there is an "inflection point" in DRAM semiconductor prices, with improvements occurring at least one quarter earlier than anticipated. This shift is attributed to increased demand for artificial intelligence servers, particularly those using high bandwidth memory (HBM) DRAM chips, which are commonly used in generative AI applications. </p>
<p>The analysts also mentioned that recent supply chain checks indicate sustainable price increases, with expectations of further acceleration in the next two quarters due to limited supply growth.</p>
| NASDAQ:MU | https://financialmodelingprep.com/market-news/fmp-micron-technology-stock-is-a-buy-at-deutsche-bank | Davit Kirakosyan | Financial Modeling Prep |
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DoorDash Stock Gains 2% on Upgrade | 2023-09-18 12:03:00 | <p><a href='https://financialmodelingprep.com/financial-summary/DASH'>DoorDash (NYSE:DASH)</a> shares rose more than 2% intra-day today following an upgrade by Mizuho Securities analysts. The analysts upgraded the stock from Neutral to Buy and raised the price target to $105 from $90. </p>
<p>The upgrade is based on a deep analysis of key metrics, suggesting that Gross-Order-Value (GOV) growth is likely to surpass guidance and Street expectations in the second half of 2023. The analysts cited factors such as continued market share gains in the US, rational competition in Europe, moderated food inflation, and resilient consumer spending as drivers supporting this outlook.</p>
| NYSE:DASH | https://financialmodelingprep.com/market-news/fmp-doordash-stock-gains-2-on-upgrade | Davit Kirakosyan | Financial Modeling Prep |
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Planet Fitness Slashed to Hold After CEO Chris Rondeau’s Exit | 2023-09-18 12:02:00 | <p>Jefferies analysts downgraded <a href='https://financialmodelingprep.com/financial-summary/PLNT'>Planet Fitness (NYSE:PLNT)</a> from Buy to Hold and lowered the price target from $90 to $56 per share. The downgrade comes in the wake of a surprising leadership change at Planet Fitness, where CEO Chris Rondeau was ousted from his position. Following this announcement, the company's shares dropped by more than 15% on Friday. </p>
<p>The analysts expressed concerns about the impact of this leadership change, higher interest rates, and ongoing inflationary pressures on the company's near-term growth potential. While interim CEO Craig Benson has a history with Planet Fitness, serving on its board since 2017 and owning a franchise since 2012, the analysts believe that this leadership transition introduces uncertainty regarding the company's future growth prospects.</p> | NYSE:PLNT | https://financialmodelingprep.com/market-news/fmp-planet-fitness-slashed-to-hold-after-ceo-chris-rondeau’s-exit | Davit Kirakosyan | Financial Modeling Prep |
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Skechers Stock Upgraded to Overweight at Piper Sandler | 2023-09-18 11:59:00 | <p><a href='https://financialmodelingprep.com/financial-summary/SKX'>Skechers USA (NYSE:SKX)</a> received an upgrade from Piper Sandler analysts, who shifted the stock rating from Neutral to Overweight and raised the price target to $59 per share. </p>
<p>The analysts are more positive about Skechers' international business and believe it has the potential for medium-term earnings growth in the mid-teens. </p>
<p>Despite challenges in the U.S. wholesale market, strong direct-to-consumer trends indicate robust demand, which is expected to drive restocking. Additionally, Skechers is set to improve its gross margins, making it an appealing investment choice.</p>
| NYSE:SKX | https://financialmodelingprep.com/market-news/fmp-skechers-stock-upgraded-to-overweight-at-piper-sandler- | Davit Kirakosyan | Financial Modeling Prep |
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Apple Shares Gain Following Analysts’ Comments on Strong iPhone 15 Demand | 2023-09-18 10:32:00 | <p><a href='https://financialmodelingprep.com/financial-summary/AAPL'>Apple (NASDAQ:AAPL)</a> shares rose more than 2% intra-day today as several analysts reported strong demand for the iPhone 15. </p>
<p>Delivery times for the iPhone 15 Pro have been pushed into November for some models, indicating high demand. Morgan Stanley noted a robust start to the cycle, with the iPhone 15 Pro Max experiencing the longest lead times in seven years, and Chinese data points surpassing expectations. </p>
<p>Meanwhile, Goldman Sachs highlighted extended lead times for premium models, suggesting strong consumer demand and potential for better pricing and product mix.</p>
| NASDAQ:AAPL | https://financialmodelingprep.com/market-news/fmp-apple-shares-gain-following-analysts’-comments-on-strong-iphone-15-demand | Davit Kirakosyan | Financial Modeling Prep |
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VinFast Auto Q2 Deliveries up 5X | 2023-09-18 10:26:00 | <p>Vietnamese electric vehicle maker <a href='https://financialmodelingprep.com/financial-summary/VFS'>VinFast Auto (NASDAQ:VFS)</a> reported a substantial increase in deliveries during Q2, with 9,535 vehicles delivered, more than five times the Q1 figure. </p>
<p>In the first half of the year, the company delivered a total of 11,315 vehicles. VinFast made its much-anticipated Wall Street debut in August, with shares initially tripling in value. </p>
<p>However, limited publicly traded shares have led to significant stock price volatility, resulting in a 53% decline since its debut.
VinFast is set to release its Q2 results on September 21.</p>
| NASDAQ:VFS | https://financialmodelingprep.com/market-news/fmp-vinfast-auto-q2-deliveries-up-5x | Davit Kirakosyan | Financial Modeling Prep |
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Adobe Systems Reports Q3 Beat | 2023-09-15 11:57:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ADBE'>Adobe Systems (NASDAQ:ADBE)</a> announced its Q3 earnings, reporting an EPS of $4.09, surpassing the Street estimate by $0.12, which was projected at $3.97. The company also revealed Q3 revenue of $4.89 billion, slightly exceeding the Street estimate of $4.87 billion.</p>
<p>The CEO of Adobe expressed the company's commitment to ushering in a new era of AI-enhanced creativity with recent innovations across their product portfolio, including Firefly, Express, Creative Cloud, and GenStudio, expanding Adobe's impact on millions of users worldwide.</p>
<p>For Q4/23, Adobe Systems expects an EPS ranging from $4.10 to $4.15, outpacing the Street estimate of $4.06. Additionally, the company anticipates Q4/23 revenue to fall within the range of $4.975 billion to $5.025 billion, compared to the Street estimate of $5 billion.</p>
| NASDAQ:ADBE | https://financialmodelingprep.com/market-news/fmp-adobe-systems-reports-q3-beat | Davit Kirakosyan | Financial Modeling Prep |
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Virtu Financial Stock Weakness is an Opportunity | 2023-09-15 11:54:00 | <p>Citi analysts raised their rating for <a href='https://financialmodelingprep.com/financial-summary/VIRT'>Virtu Financial (NASDAQ:VIRT)</a> from Neutral to Buy with a $20.00 price target. This upgrade comes after Virtu's stock dropped by more than 8% on Wednesday due to an SEC lawsuit filed on September 12. </p>
<p>The analysts believe the market's response was excessive, citing previous cases like ITG, which settled for $20 million, as manageable precedents. </p>
<p>The analysts noted that there were no adverse client reactions to the SEC case and view the current stock weakness as an attractive opportunity, drawing on past experiences with regulatory news.</p>
| NASDAQ:VIRT | https://financialmodelingprep.com/market-news/fmp-virtu-financial-stock-weakness-is-an-opportunity- | Davit Kirakosyan | Financial Modeling Prep |
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Etsy Upgraded at Wolfe Research | 2023-09-15 11:50:00 | <p>Wolfe Research analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/ETSY'>Etsy (NASDAQ:ETSY)</a> from Peerperform to Outperform with a $100.00 price target. Despite a year-to-date decline in Etsy's stock, the analysts see potential for growth recovery in the double digits as macro conditions improve, which could drive high-teens EBITDA growth. </p>
<p>This projection is based on expectations of higher discretionary consumer spending and cost savings, regardless of when the macro conditions improve. </p>
<p>The analysts believe Etsy's shares could trade at a mid-teens EBITDA multiple if growth rates reaccelerate to double digits, alongside margin expansion. Historically, Etsy's multiples averaged around 22x before the COVID pandemic, with growth rates ranging from 15% to 25%.</p>
| NASDAQ:ETSY | https://financialmodelingprep.com/market-news/fmp-etsy-upgraded-at-wolfe-research | Davit Kirakosyan | Financial Modeling Prep |
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Cousins Properties Upgraded to Buy at Truist | 2023-09-15 11:48:00 | <p>Truist Securities analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/CUZ'>Cousins Properties (NYSE:CUZ)</a> from Hold to Buy, setting a price target of $28.00, up from $27.00. The analysts noted that the market perception of the company is overly pessimistic. </p>
<p>They believe Cousins is in a favorable position due to its presence in Sunbelt markets, the growing demand for quality office spaces, and positive factors such as strong employment growth and minimal lease expirations. </p>
<p>Additionally, the company boasts a low-leverage balance sheet, a well-supported dividend, and an attractive valuation relative to private market values.</p>
| NYSE:CUZ | https://financialmodelingprep.com/market-news/fmp-cousins-properties-upgraded-to-buy-at-truist | Davit Kirakosyan | Financial Modeling Prep |
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HP Drops on Berkshire Hathaway’s Stake Cut | 2023-09-15 08:39:00 | <p><a href='https://financialmodelingprep.com/financial-summary/HPQ'>HP (NYSE:HPQ)</a> witnessed a decline of nearly 2% yesterday after it was revealed that Warren Buffett's Berkshire Hathaway sold approximately $158.5 million worth of shares in the PC manufacturer.</p>
<p>This action taken by Berkshire Hathaway involved three separate transactions, totaling approximately 5.5 million shares. Following this divestment, Berkshire reduced its ownership stake in HP from 12.2% to 11.7%.</p>
<p>Before this announcement, HP's stock had shown a year-to-date increase of more than 5%.</p>
| NYSE:HPQ | https://financialmodelingprep.com/market-news/fmp-hp-drops-on-berkshire-hathaway’s-stake-cut | Davit Kirakosyan | Financial Modeling Prep |
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HSBC Initiated Microsoft at Hold | 2023-09-15 08:35:00 | <p>HSBC analysts initiated research coverage on <a href='https://financialmodelingprep.com/financial-summary/MSFT'>Microsoft (NASDAQ:MSFT)</a> with a Hold rating and a price target of $347.00. While recognizing Microsoft's strengths and its favorable position for AI benefits, the analysts highlighted concerns about the stock's high valuation. </p>
<p>Additionally, they expressed skepticism about the market's overly optimistic outlook on near-term AI monetization. The analysts stated that they anticipate strong short- and long-term operational performance driven by factors such as cloud computing, digital transformation, and the potential of AI.</p>
| NASDAQ:MSFT | https://financialmodelingprep.com/market-news/fmp-hsbc-initiated-microsoft-at-hold | Davit Kirakosyan | Financial Modeling Prep |
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Delta Air Lines Updates Q3 Guidance | 2023-09-14 12:26:00 | <p><a href='https://financialmodelingprep.com/financial-summary/DAL'>Delta Air Lines (NYSE:DAL)</a> updated its Q3 forecast, expecting adjusted EPS to fall between $1.85 and $2.05, down from the prior range of $2.20 to $2.50 per share. </p>
<p>For the full year, Delta Air maintains its adjusted EPS projection of $6 to $7. It anticipates Q3 capacity growth of 16% and a fuel price per gallon ranging from $2.75 to $2.90. The company has adjusted its total revenue growth guidance to fall within the upper half of the previously forecasted 11-14% range, and it expects an operating margin of around 13% for the third quarter. </p>
| NYSE:DAL | https://financialmodelingprep.com/market-news/fmp-delta-air-lines-updates-q3-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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Adobe Systems Announces New AI Pricing | 2023-09-14 12:24:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ADBE'>Adobe (NASDAQ:ADBE)</a> announced pricing for its generative AI imaging tool, Firefly. This tool is now available across Adobe's platforms. Subscribers will receive a specific number of image generations based on their plan, with additional generations incurring a 5-cent cost. Adobe's highest-tier subscription offers 3,000 image generations per month, while the free version provides 25 images monthly. </p>
<p>Analysts believe these AI tools could drive Adobe's growth, and the pricing model combines a base rate increase with charges for exceeding allocated credits, ensuring users can still access the tools with reduced performance after exhausting their credits.</p>
| NASDAQ:ADBE | https://financialmodelingprep.com/market-news/fmp-adobe-systems-announces-new-ai-pricing | Davit Kirakosyan | Financial Modeling Prep |
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Visa Stock Drops on Potential Sale of Shares By Major Banks | 2023-09-14 12:14:00 | <p><a href='https://financialmodelingprep.com/financial-summary/V'>Visa (NYSE:V)</a> shares fell more than 3% intra-day today after the company launched a process allowing major U.S. banks, including JPMorgan Chase, Citigroup, and Bank of America, to sell their shares in the world's largest payments network. This move has generated mixed reactions among Wall Street analysts.</p>
<p>Jefferies suggests that the proposal may create a short-term overhang on Visa's stock, potentially raising investor concerns. In contrast, Morgan Stanley views the proposal as a potential solution to reduce uncertainty regarding the conversion and public trading of Class B shares.
Visa's plan involves discussions with investors to amend the share structure established prior to its 2008 initial public offering (IPO). If approved, this proposal would enable Class B shareholders to sell up to half of their stakes initially.</p>
| NYSE:V | https://financialmodelingprep.com/market-news/fmp-visa-stock-drops-on-potential-sale-of-shares-by-major-banks | Davit Kirakosyan | Financial Modeling Prep |
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Rivian Automotive Initiated With Neutral at UBS | 2023-09-14 12:12:00 | <p>UBS analysts initiated coverage on <a href='https://financialmodelingprep.com/financial-summary/RIVN'>Rivian Automotive (NASDAQ:RIVN)</a> with a Neutral rating and a price target of $26.00.</p>
<p>The analysts believe Rivian has significant growth potential, with a forecasted delivery increase to around 500,000 vehicles by 2030, resembling the Jeep brand's past performance. However, this growth is expected mainly in the latter half of the decade, following the launch of their R2 product. </p>
<p>Achieving positive gross profit and managing cash burn is crucial in the interim. The analysts predict that Rivian can achieve gross margin positivity by Q4/24, but the company may require around $5 billion in new capital in 2025 for further expansion.</p>
| NASDAQ:RIVN | https://financialmodelingprep.com/market-news/fmp-rivian-automotive-initiated-with-neutral-at-ubs | Davit Kirakosyan | Financial Modeling Prep |
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Beyond Meat Started With Underperform at TD Cowen, Shares Drop 5% | 2023-09-14 08:40:00 | <p>TD Cowen analysts initiated coverage on <a href='https://financialmodelingprep.com/financial-summary/BYND'>Beyond Meat (NASDAQ:BYND)</a> with an Underperform rating and a price target of $10. As a result, shares dropped nearly 5% yesterday.</p>
<p>The analysts expressed concerns about the company's product quality and its fragile financial position. They noted that Beyond Meat is losing market share in the declining category of refrigerated plant-based meat alternatives, and while the company is taking steps to preserve cash and stabilize sales, the analysts believe that the financial risks and weak consumption patterns in the meat alternatives sector are significant challenges for the company.</p>
| NASDAQ:BYND | https://financialmodelingprep.com/market-news/fmp-beyond-meat-started-with-underperform-at-td-cowen-shares-drop-5 | Davit Kirakosyan | Financial Modeling Prep |
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BofA Securities Positive on Alphabet’s Job Cuts | 2023-09-14 08:34:00 | <p><a href='https://financialmodelingprep.com/financial-summary/GOOGL'>Google (NASDAQ:GOOGL)</a> is implementing significant reductions in its global recruiting organization as part of a broader strategy to scale back hiring in the coming quarters. While the company will continue to invest in top engineering and technical talent, it plans to slow down its overall hiring efforts due to a decrease in recruiter requests. </p>
<p>According to Bank of America analysts, this move is seen as a positive development for Google's profit margins and suggests a conscious effort to manage expenses while aiming to grow revenues more rapidly than costs. </p>
| NASDAQ:GOOGL | https://financialmodelingprep.com/market-news/fmp-bofa-securities-positive-on-alphabet’s-job-cuts- | Davit Kirakosyan | Financial Modeling Prep |
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Moderna Stock Surges 6% on Expectations of Up to $15 Billion in Sales From New Drugs | 2023-09-13 12:18:00 | <p><a href='https://financialmodelingprep.com/financial-summary/MRNA'>Moderna (NASDAQ:MRNA)</a> shares gained more than 6% intra-day today after the company revealed its projection of generating $10 billion to $15 billion in annual sales from new drugs by 2028.</p>
<p>In addition to this, the drugmaker expects to achieve $8 billion to $15 billion in sales from the respiratory franchise by 2027, as previously announced. Moderna also anticipates COVID-19 vaccine sales ranging from $6 billion to $8 billion in 2023, with specific figures contingent on U.S. vaccination rates. </p>
<p>Furthermore, the company reported the successful outcome of its Phase 3 trial for the flu vaccine mRNA-1010.</p>
| NASDAQ:MRNA | https://financialmodelingprep.com/market-news/fmp-moderna-stock-surges-6--on-expectations-of-up-to-$15-billion-in-sales-from-new-drugs | Davit Kirakosyan | Financial Modeling Prep |
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Veeco Instruments Started With a Buy Rating at Citi | 2023-09-13 12:17:00 | <p>Citi analysts initiated coverage on <a href='https://financialmodelingprep.com/financial-summary/VECO'>Veeco Instruments (NASDAQ:VECO)</a> with a Buy rating and a price target of $35.00. As a result, shares rose more than 2% intra-day today. </p>
<p>The analysts expect Veeco's semiconductor equipment business, which makes up approximately 65% of its sales, to outperform the wafer fab equipment (WFE) market by about 300 basis points in 2024. This is driven by growth in the laser anneal total addressable market (TAM), new design wins in memory, and increased sales in advanced packaging. </p>
<p>The analysts believe that Veeco's position in critical laser anneal steps at major logic manufacturers and its potential in the memory market support this outlook. </p>
| NASDAQ:VECO | https://financialmodelingprep.com/market-news/fmp-veeco-instruments-started-with-a-buy-rating-at-citi | Davit Kirakosyan | Financial Modeling Prep |
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Rocket Pharmaceuticals Shares Jump 40% on Alignment with FDA | 2023-09-13 12:15:00 | <p><a href='https://financialmodelingprep.com/financial-summary/RCKT'>Rocket Pharmaceuticals (NASDAQ:RCKT)</a> shares jumped more than 40% intra-day today after the company announced an agreement with the U.S. FDA regarding the Phase 2 trial of RP-A501. </p>
<p>This trial targets Danon disease, a life-threatening inherited cardiomyopathy. The CEO of Rocket Pharmaceuticals, Gaurav Shah, expressed confidence that this agreement represents a significant step toward efficiently and swiftly providing potential therapy to Danon Disease patients, potentially avoiding the need for heart transplantation or the risk of death.</p>
| NASDAQ:RCKT | https://financialmodelingprep.com/market-news/fmp-rocket-pharmaceuticals-shares-jump-40-on-alignment-with-fda- | Davit Kirakosyan | Financial Modeling Prep |
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Acelyrin Stock Crashes on Disappointing Trial Results | 2023-09-13 12:13:00 | <p><a href='https://financialmodelingprep.com/financial-summary/SLRN'>Acelyrin (NASDAQ:SLRN)</a> shares closed with a 54% loss yesterday and are currently trading more than 19% lower intra-day today due to disappointing results from a clinical trial of its lead product, izokibep. This medication was developed for individuals with hidradenitis suppurativa (HS), a chronic inflammatory skin condition.</p>
<p>Despite the trial's overall failure to achieve statistical significance, Acelyrin's founder and CEO, Shao-Lee Lin, emphasized some positive aspects. Lin pointed out that izokibep appears to be demonstrating consistent and substantial early responses in patients suffering from hidradenitis suppurativa, all without any safety or tolerability concerns.</p>
| NASDAQ:SLRN | https://financialmodelingprep.com/market-news/fmp-acelyrin-stock-crashes-on-disappointing-trial-results | Davit Kirakosyan | Financial Modeling Prep |
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Spirit Airlines Plunges 4% on Q3 Guidance Cut | 2023-09-13 08:44:00 | <p><a href='https://financialmodelingprep.com/financial-summary/SAVE'>Spirit Airlines (NYSE:SAVE)</a> revised its Q3 revenue outlook, leading to a nearly 4% decline in pre-market trading today.</p>
<p>Spirit Air now projects Q3 sales to range from $1.245 billion to $1.255 billion, marking a decrease from the previous range of $1.3 billion to $1.32 billion.</p>
<p>The company also expects an adjusted operating margin between -14.5% and -15.5%, down from the earlier estimate of -5.5% to -7.5%. This is below analysts' expectations of -7.2%. Additionally, they anticipate fuel costs per gallon to be $3.06, up from the previous estimate of $2.80. The company anticipates a 13.4% increase in available seat miles.</p>
<p>The company attributed these adjustments to heightened promotional activity featuring substantial discounts for travel bookings from the second half of the third quarter through the pre-Thanksgiving period. Additionally, rising fuel prices have contributed to the changes.</p>
| NYSE:SAVE | https://financialmodelingprep.com/market-news/fmp-spirit-airlines-plunges-4-on-q3-guidance-cut | Davit Kirakosyan | Financial Modeling Prep |
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Immunogen Shares Gain 2% on JPMorgan Upgrade | 2023-09-13 08:42:00 | <p><a href='https://financialmodelingprep.com/financial-summary/IMGN'>Immunogen (NASDAQ:IMGN)</a> shares gained more than 2% pre-market today after JPMorgan analysts upgraded the company from Neutral to Overweight rating and raised the price target to $22.00 from $9.00.</p>
<p>This upgrade is based on positive feedback from a physician survey regarding the launch of Elahere in platinum-resistant ovarian cancer (PROC) and a favorable assessment of Immunogen's research and development portfolio. </p>
<p>The analysts believe that Elahere's U.S. launch is showing strong growth potential, and the current valuation of Immunogen does not fully reflect the commercial product's potential. Additionally, there are expansion opportunities for other clinical-stage assets, and upcoming ORR results from the Phase 2 PICCOLO trial could further bolster investor confidence. </p>
| NASDAQ:IMGN | https://financialmodelingprep.com/market-news/fmp-immunogen-shares-gain-2-on-jpmorgan-upgrade | Davit Kirakosyan | Financial Modeling Prep |
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GoDaddy Gains 4% as Activist Investor Urges a Potential Sale | 2023-09-12 11:26:00 | <p><a href='https://financialmodelingprep.com/financial-summary/GDDY'>GoDaddy (NYSE:GDDY)</a> shares are on the rise (up 4% intra-day today) following a letter from activist investor Starboard Value, which indicated the presence of a significant opportunity for value creation within the company.</p>
<p>Starboard, currently the third largest shareholder in GoDaddy with around 7.8% of the outstanding common stock, expressed its disappointment in GoDaddy's operational, financial, and stock performance over the past 18 months.</p>
<p>GoDaddy had previously held an Investor Day in early 2022 where it outlined its financial goals for 2022 through 2024. However, Starboard believed that there was room for improvement beyond those targets. While some initial progress was made in 2023, GoDaddy, according to Starboard, has since fallen behind on nearly every metric it presented at the Investor Day.</p>
<p>They also emphasized that the board should maintain a receptive attitude toward exploring other possibilities for enhancing value. This could encompass strategies to achieve greater profit margins and execute cost-cutting measures. Additionally, Starboard mentioned the possibility of considering a potential sale of the company.</p>
| NYSE:GDDY | https://financialmodelingprep.com/market-news/fmp-godaddy-gains-4-as-activist-investor-urges-a-potential-sale | Davit Kirakosyan | Financial Modeling Prep |
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Sight Sciences Plunges 46% Following Full Year Guidance Cut | 2023-09-12 11:24:00 | <p><a href='https://financialmodelingprep.com/financial-summary/SGHT'>Sight Sciences (NASDAQ:SGHT)</a> revised its revenue expectations for the year due to uncertainties surrounding the Medicare coverage for its products. Shares plummeted more than 46% intra-day today.</p>
<p>As a consequence of this uncertainty and a subsequent decrease in demand, the company now anticipates its full-year revenue to range between $80 million and $82 million. This is a decrease from their earlier projection of $89 million to $94 million.</p>
<p>Furthermore, for the third quarter, their revenue is estimated to be in the range of $19 million to $20 million, compared to the Street estimate of $23.7 million.</p>
<p>Sight Sciences plans to provide a comprehensive report on its third-quarter results in early November. Alongside this update, the company has announced the appointment of Matt Link as its Chief Commercial Officer. </p>
| NASDAQ:SGHT | https://financialmodelingprep.com/market-news/fmp-sight-sciences-plunges-46-following-full-year-guidance-cut- | Davit Kirakosyan | Financial Modeling Prep |
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Coinbase’s Stock Impressive YTD Gain is Unsustainable | 2023-09-12 11:17:00 | <p><a href='https://financialmodelingprep.com/financial-summary/COIN'>Coinbase (NASDAQ:COIN)</a> shares have surged by an impressive 124% year-to-date, but Mizuho analysts believe that this rapid rise is not sustainable.</p>
<p>Bitcoin prices have also experienced a 56% increase year-to-date, driven by a more favorable environment for risky assets. However, the analysts suggest that this situation may not last.</p>
<p>Mizuho Securities pointed out that, historically, rising Bitcoin prices have led to increased retail engagement in cryptocurrency trading. However, they now observe a decline in retail crypto FOMO (Fear of Missing Out), which they believe could result in an unprecedented disconnect between Bitcoin prices and Coinbase trading volumes. Retail trading accounts for a significant 95% of Coinbase's trading revenue.</p>
<p>The analysts anticipate a substantial drop in Coinbase's stock value in the coming months, citing the waning enthusiasm seen after the spike in daily trading volumes following news related to the SEC and Grayscale. As evidence, the analysts highlighted that average daily volumes in September are tracking at a level approximately 25% below those in August.</p>
| NASDAQ:COIN | https://financialmodelingprep.com/market-news/fmp-coinbase’s-stock-impressive-ytd-gain-is-unsustainable | Davit Kirakosyan | Financial Modeling Prep |
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Enphase Energy Slashed to Hold at Truist Securities | 2023-09-12 11:14:00 | <p>Truist downgraded <a href='https://financialmodelingprep.com/financial-summary/ENPH'>Enphase Energy (NASDAQ:ENPH)</a> from a Buy rating to a Hold, along with lowering the price target from $210 to $135. The analysts provided insight, expressing concerns about the potential risks associated with a near-term recovery in the U.S. residential solar market due to factors like rate and spending challenges. </p>
<p>This adjusted outlook and the reevaluation of group valuations were the primary reasons for the downgrade. The analysts further explained that the valuation dynamics within the industry have shifted, with utility-scale solar suppliers now trading at a premium compared to residential supplier counterparts.</p>
| NASDAQ:ENPH | https://financialmodelingprep.com/market-news/fmp-enphase-energy-slashed-to-hold-at-truist-securities | Davit Kirakosyan | Financial Modeling Prep |
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