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Oracle Stock Drops 10% on Weak Outlook | 2023-09-12 09:14:00 | <p>Oracle's fiscal first-quarter results, released on Monday, exceeded analysts' expectations thanks to growing demand for cloud services driven by businesses' efforts to develop generative artificial intelligence applications.</p>
<p>Despite the positive results, <a href='https://financialmodelingprep.com/financial-summary/ORCL'>Oracle Corporation (NYSE:ORCL)</a> shares dropped more than 10% pre-market today as the company provided a less optimistic outlook for the second quarter during the earnings call.</p>
<p>Oracle reported adjusted earnings per share (EPS) of $1.19 on revenue of $12.45 billion, surpassing the Street expectations of EPS of $1.15 on revenue of $12.44 billion.</p>
<p>During the earnings call, Oracle projected that total revenue would grow by 5-7% at current currency rates and 3-5% in constant currency. However, the company anticipated cloud revenue growth of 28% in constant currency, slightly below the 29% reported for the first quarter. This cloud revenue outlook is likely the primary reason for the stock's post-earnings decline.</p>
| NYSE:ORCL | https://financialmodelingprep.com/market-news/fmp-oracle-stock-drops-10-on-weak-outlook | Davit Kirakosyan | Financial Modeling Prep |
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Smurfit Kappa & WestRock Agree to Merge in a $20 Billion Deal | 2023-09-12 09:09:00 | <p>Packaging giants Smurfit Kappa and <a href='https://financialmodelingprep.com/financial-summary/WRK'>WestRock (NYSE:WRK)</a> have reached an agreement to merge, forming the world's largest publicly traded paper and packaging company, with an estimated value of nearly $20 billion. Following this announcement, WestRock's stock surged more than 8% pre-market today.</p>
<p>In accordance with the merger terms, WestRock shareholders will receive one share in the newly formed entity, Smurfit WestRock, and $5 in cash for each of their existing shares, equating to a total of $43.51 per share.</p>
<p>On the other hand, Smurfit Kappa shareholders will be given one new Smurfit WestRock share for every share they currently hold. This will result in their ownership of approximately 50.4% of the combined company once the merger concludes in the second quarter of 2024.</p>
| NYSE:WRK | https://financialmodelingprep.com/market-news/fmp-smurfit-kappa-&-westrock-agree-to-merge-in-a-$20-billion-deal | Davit Kirakosyan | Financial Modeling Prep |
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Tesla Upgraded at Morgan Stanley, Stock Surges 7% | 2023-09-11 12:28:00 | <p>Morgan Stanley analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/TSLA'>Tesla (NASDAQ:TSLA)</a> to Overweight and designated it as a Top Pick, setting a price target of $400 per share, which is now the highest on Wall Street. As a result, the stock surged more than 7% intra-day today.</p>
<p>The upgrade is primarily driven by Tesla's Dojo Supercomputer, which the analysts believe has the potential to increase Tesla's enterprise value by up to $500 billion. Much like Amazon's AWS transformed the company's EBIT, the analysts see Dojo accelerating the adoption of Mobility (robotaxi) and Network Services (SaaS) for Tesla. </p>
<p>Tesla's Dojo supercomputer is instrumental in enhancing and training its Full Self-Driving (FSD) system, which is crucial for making real-time decisions in challenging driving conditions.</p>
| NASDAQ:TSLA | https://financialmodelingprep.com/market-news/fmp-tesla-upgraded-at-morgan-stanley-stock-surges-7 | Davit Kirakosyan | Financial Modeling Prep |
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Qualcomm Technologies Stock Gains 3% on Agreement with Apple | 2023-09-11 12:26:00 | <p><a href='https://financialmodelingprep.com/financial-summary/QCOM'>Qualcomm Technologies (NASDAQ:QCOM)</a> announced a significant agreement with Apple (NASDAQ:AAPL) to supply high-end chips for Apple's smartphones. This partnership will cover product launches in 2024, 2025, and 2026, resulting in a 3% surge in Qualcomm's stock intra-day today.</p>
<p>Qualcomm emphasized that this deal underscores its continued leadership in 5G technologies and products. Apple will incorporate Qualcomm's 5G Modem-RF Systems in its upcoming devices, with terms similar to their previous agreement.</p>
<p>Additionally, Qualcomm highlighted its 20% share of chipset supply for the smartphone launch in 2026. It's worth noting that their six-year global patent license agreement, established in 2019, remains unchanged, with an option for a two-year extension.</p>
| NASDAQ:QCOM | https://financialmodelingprep.com/market-news/fmp-qualcomm-technologies-stock-gains-3-on-agreement-with-apple | Davit Kirakosyan | Financial Modeling Prep |
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Block Designated as Bullish Fresh Pick at Baird | 2023-09-11 12:24:00 | <p>Baird analysts maintained their Outperform rating on <a href='https://financialmodelingprep.com/financial-summary/SQ'>Block (NYSE:SQ)</a> and upgraded it to a Bullish Fresh Pick designation in response to a recent market downturn.</p>
<p>Block recently faced technical challenges, resulting in a temporary outage of its website and connectivity issues for Square app users. Although these issues disrupted some sellers' access to accounts and payment processing, services began recovering by the following day.</p>
<p>While acknowledging investor concerns about the processing problem, Baird believes that the system is now back on track. They view the stock as oversold, trading at less than 3.5 times the estimated 2024 revenue, making it one of the most attractively valued options in their fintech coverage.</p>
<p>The analysts emphasized that their Bullish Fresh Pick designation is based on historical patterns where significant payment issues at major companies tend to be resolved swiftly, and stocks tend to bounce back.</p>
| NYSE:SQ | https://financialmodelingprep.com/market-news/fmp-block-designated-as-bullish-fresh-pick-at-baird | Davit Kirakosyan | Financial Modeling Prep |
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Crinetics Pharmaceuticals Jumps 66% Following Hormonal Disorder Drug Results | 2023-09-11 12:22:00 | <p><a href='https://financialmodelingprep.com/financial-summary/CRNX'>Crinetics Pharmaceuticals (NASDAQ:CRNX)</a> witnessed a significant 66% surge in its stock price intra-day today following the announcement of positive trial results for its experimental treatment targeting a rare hormonal disease.</p>
<p>The San Diego-based company reported that its oral, once-daily drug, paltusotine, successfully met the primary and all secondary endpoints in a Phase 3 study, which was randomized and placebo-controlled.</p>
<p>Notably, 83% of patients treated with paltusotine maintained their growth-factor levels, a stark contrast to the 4% in the placebo group. This outcome exceeded the expectations of around 70% of patients maintaining stable growth-factor levels.</p>
| NASDAQ:CRNX | https://financialmodelingprep.com/market-news/fmp-crinetics-pharmaceuticals-jumps-66-following-hormonal-disorder-drug-results | Davit Kirakosyan | Financial Modeling Prep |
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Immatics Surges 6% on the Deal With Moderna | 2023-09-11 08:53:00 | <p>Shares of <a href='https://financialmodelingprep.com/financial-summary/IMTX'>Immatics (NASDAQ:IMTX)</a> surged more than 6% in pre-market today following the announcement of a cancer drug collaboration with vaccine giant <a href='https://financialmodelingprep.com/financial-summary/MRNA'>Moderna (NASDAQ:MRNA)</a>, valued at up to $1.8 billion.</p>
<p>The two companies have revealed a strategic research and development partnership aimed at pioneering innovative and game-changing therapies for cancer patients facing significant unmet medical needs.</p>
<p>Under the terms of the agreement, Immatics will receive an initial payment of $120 million, coupled with continuous research funding. Additionally, they have the potential to earn milestone payments linked to development, regulatory approvals, and commercial accomplishments, which could exceed $1.7 billion.</p>
| NASDAQ:IMTX, NASDAQ:MRNA | https://financialmodelingprep.com/market-news/fmp-immatics-surges-6-on-the-deal-with-moderna | Davit Kirakosyan | Financial Modeling Prep |
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SharkNinja Started With Buy at Jefferies, Shares Gain 4% | 2023-09-11 08:50:00 | <p>Jefferies analysts initiated coverage on <a href='https://financialmodelingprep.com/financial-summary/SN'>SharkNinja (NYSE:SN)</a> with a Buy rating and a price target set at $67. As a result, shares gained more than 4% pre-market today. The analysts highlighted SharkNinja's promising position in the market, driven by its global rapid innovation and commercialization strategy. </p>
<p>They believe that this unique approach will enable SharkNinja to not only strengthen its foothold in existing product categories but also explore new ones.</p>
<p>The analysts are optimistic about SharkNinja's potential for market expansion, citing the company's rapidly growing portfolio of brands and its successful international expansion efforts. They predict substantial top-line growth opportunities and a rising profit margin for the company.</p>
| NYSE:SN | https://financialmodelingprep.com/market-news/fmp-sharkninja-started-with-buy-at-jefferies-shares-gain-4 | Davit Kirakosyan | Financial Modeling Prep |
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Kroger Gains 4% on Q2 EPS Beat | 2023-09-08 12:35:00 | <p><a href='https://financialmodelingprep.com/financial-summary/KR'>Kroger (NYSE:KR)</a> shares rose more than 4% intra-day today after the company reported its second-quarter results, with earnings per share (EPS) of $0.96 surpassing the analyst estimate of $0.91. However, the company's revenue for the quarter amounted to $33.9 billion, slightly below the Street estimate of $34.12 billion.</p>
<p>The CEO of Kroger also acknowledged the persistently challenging business environment expected in the future. Looking ahead, Kroger reiterated its full-year 2024 EPS guidance to be in the range of $4.45 to $4.60, which aligns with their previous guidance and compares to the Street estimate of $4.51. Furthermore, the company anticipates identical sales without fuel to range from 1% to 2%, with underlying growth of 2.5% to 3.5% after adjusting for the impact of Express Scripts.</p>
| NYSE:KR | https://financialmodelingprep.com/market-news/fmp-kroger-gains-4-on-q2-eps-beat | Davit Kirakosyan | Financial Modeling Prep |
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RH Stock Plunges 12% on Disappointing Guidance | 2023-09-08 12:32:00 | <p><a href='https://financialmodelingprep.com/financial-summary/RH'>RH (NYSE:RH)</a> shares dropped more than 12% intra-day today after the company reported its second-quarter results. </p>
<p>The earnings per share (EPS) came in at $3.93, surpassing the Street estimate by $1.37. Additionally, the revenue for the quarter amounted to $800 million, exceeding the Street estimate of $777.8 million.</p>
<p>While quarterly results beat the expectations, guidance came in at worse than the consensus estimates. Looking ahead, RH anticipates third-quarter 2024 revenue in the range of $740 million to $760 million, which falls short of the Street estimate of $772.87 million. For the fourth quarter of 2024, the company expects revenues ranging from $760 million to $800 million.</p>
<p>Furthermore, RH has revised its full-year 2024 revenue guidance to be between $3.04 billion and $3.1 billion, compared to the Street estimate of $3.07 billion.</p>
| NYSE:RH | https://financialmodelingprep.com/market-news/fmp-rh-stock-plunges-12-on-disappointing-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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Apple’s Price Target Cut at JPMorgan | 2023-09-08 12:29:00 | <p>JPMorgan analysts adjusted their price target for <a href='https://financialmodelingprep.com/financial-summary/AAPL'>Apple (NASDAQ:AAPL)</a> to $230.00, down from the previous target of $235.00, while maintaining an Overweight rating.</p>
<p>The bank’s analysis is centered around the upcoming fall product launch by Apple, addressing key investor concerns, including the significance of product cycle upgrades, pricing strategies, and the impact of macroeconomic challenges, notably restrictions in China. </p>
<p>They emphasized that the potential for Apple's stock to outperform in the remainder of the year depends on surpassing currently low investor expectations for the iPhone 15 launch. However, even if iPhone revenue and volume meet or exceed these low expectations, the upside for Apple's shares may be limited due to their strong performance year-to-date and a relatively high earnings multiple, which is currently at approximately a 61% premium compared to the second half of 2019 when Apple's shares similarly outperformed by meeting or exceeding low investor expectations for the iPhone 11 cycle.</p>
| NASDAQ:AAPL | https://financialmodelingprep.com/market-news/fmp-apple’s-price-target-cut-at-jpmorgan | Davit Kirakosyan | Financial Modeling Prep |
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Gilead Sciences Stock Gains 3% on BofA Upgrade | 2023-09-08 12:26:00 | <p>BofA Securities analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/GILD'>Gilead Sciences (NASDAQ:GILD)</a> from a Neutral rating to a Buy, with a revised price target of $95.00, up from the previous $88.00 target. As a result, the company’s shares rose more than 3% intra-day today.</p>
<p>The bank's rationale for this upgrade is based on their belief that Gilead's increasing growth and expanding pipeline are not fully recognized by investors. The analysts highlighted Gilead's strong performance in its core HIV business and the emerging hematology/oncology (heme/onc) sector, despite recent setbacks with magrolimab's development for blood cancers MDS & AML and a decrease in revenue from Veklury due to declining COVID-19 cases.</p>
| NASDAQ:GILD | https://financialmodelingprep.com/market-news/fmp-gilead-sciences-stock-gains-3-on-bofa-upgrade | Davit Kirakosyan | Financial Modeling Prep |
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Smartsheet Stock Jumps 6% Following Strong Q2 Results | 2023-09-08 08:59:00 | <p><a href='https://financialmodelingprep.com/financial-summary/SMAR'>Smartsheet (NYSE:SMAR)</a> shares gained more than 6% intra-day today following the release of its second-quarter results, which exceeded expectations. In the second quarter, the company reported earnings per share (EPS) of $0.16, surpassing the anticipated $0.08. Additionally, Smartsheet's revenue for the quarter was $235.6 million, which exceeded the Street estimate of $229.6 million.</p>
<p>Looking ahead to the third quarter of fiscal year 2024, Smartsheet expects EPS to range from $0.08 to $0.09, better than the Street estimate of $0.07. Revenue projections for Q3 are between $240 million and $242 million, compared to the Street figure of $241.2 million.</p>
<p>For the fiscal year 2024, Smartsheet anticipates EPS to be in the range of $0.53 to $0.57, significantly higher than the Street estimate of $0.42.</p>
| NYSE:SMAR | https://financialmodelingprep.com/market-news/fmp-smartsheet-stock-jumps-6-following-strong-q2-results- | Davit Kirakosyan | Financial Modeling Prep |
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Adobe Upgraded to Buy at Mizuho Securities | 2023-09-08 08:57:00 | <p>Mizuho Securities analysts increased their rating on <a href='https://financialmodelingprep.com/financial-summary/ADBE'>Adobe (NASDAQ:ADBE)</a> stock from Neutral to Buy, along with raising the price target by $110 to $630 per share. This upgrade comes ahead of Adobe's upcoming third-quarter fiscal results, which are scheduled to be reported next Thursday.</p>
<p>The analysts reported that their evaluations of the company's performance have yielded positive results, suggesting a significantly improved Q4. Furthermore, there has been a consistent rise in web traffic, raising expectations for favorable Q3 outcomes in terms of the new Digital Media ARR.</p>
<p>Despite the optimism surrounding the upcoming earnings report, the analysts emphasized that this upgrade isn't solely based on expectations for the upcoming quarter. They highlighted Adobe's strong position to benefit from the ongoing digital transformation thanks to its comprehensive end-to-end offerings. Additionally, there are positive signs indicating improvements in the fundamentals of both the Digital Media and Digital Experience segments, along with growing confidence in GenAI as a major growth driver.</p>
| NASDAQ:ADBE | https://financialmodelingprep.com/market-news/fmp-adobe-upgraded-to-buy-at-mizuho-securities | Davit Kirakosyan | Financial Modeling Prep |
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Chargepoint Drops 26% on Q2 Miss | 2023-09-07 11:28:00 | <p><a href='https://financialmodelingprep.com/financial-summary/CHPT'>Chargepoint (NYSE:CHPT)</a> shares dropped more than 26% intra-day today after the company announced its Q2 results, with earnings per share (EPS) of ($0.35) missing the analyst forecast by $0.22. The revenue for the quarter was $150.5 million, below the Street estimate of $153.53 million.</p>
<p>Regarding future expectations, Chargepoint anticipates Q3/24 revenue to fall within the range of $150 million to $165 million. For the full fiscal year, ChargePoint projects revenue between $605 million and $630 million.</p>
<p>Following the results announcement, Needham & Company analysts, while maintaining a Buy rating, reduced the price target for ChargePoint from $13.00 to $9.00. The analysts cited the lower estimates and a decreased target multiple as reasons for the adjustment. They explained that economic uncertainty is causing a slowdown among commercial customers, while fleet customers are facing delays in electrifying their vehicles. These factors have led to a consistent decline in consensus revenue estimates for the company over the past three quarters.</p>
| NYSE:CHPT | https://financialmodelingprep.com/market-news/fmp-chargepoint-drops-26-on-q2-miss | Davit Kirakosyan | Financial Modeling Prep |
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BlackBerry Plunges 12% on Weak Q2 Preliminary Results | 2023-09-07 11:26:00 | <p><a href='https://financialmodelingprep.com/financial-summary/BB'>BlackBerry (NYSE:BB)</a> witnessed a significant intra-day drop of over 15% today following the release of preliminary second-quarter results that fell short of expectations.</p>
<p>Although analysts had projected second-quarter revenue to reach $150.5 million, BlackBerry indicated that it anticipates reporting sales of $132 million.</p>
<p>Within the IoT (Internet of Things) business unit, revenue is predicted to be approximately $49 million, indicating a sequential growth of 9% compared to the prior quarter. In contrast, revenue for the cybersecurity business unit is expected to be around $80 million, which is lower than anticipated, with the company attributing this to certain large government deals not closing during the quarter.</p>
<p>While BlackBerry reaffirmed its full-year revenue outlook for the Cybersecurity and Licensing units, it revised the outlook for the IoT segments, citing factors such as altered production schedules at certain automakers.</p>
<p>As a result, the full-year revenue outlook for the IoT business unit now falls within the range of $225 million to $240 million.</p>
| NYSE:BB | https://financialmodelingprep.com/market-news/fmp-blackberry-plunges-12-on-weak-q2-preliminary-results | Davit Kirakosyan | Financial Modeling Prep |
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Verint Systems Drops 15% Following Q2 Results | 2023-09-07 11:24:00 | <p><a href='https://financialmodelingprep.com/financial-summary/VRNT'>Verint Systems (NASDAQ:VRNT)</a> experienced a 15% decline intra-day today due to the company's announcement of a full-year sales outlook that fell short of expectations.</p>
<p>In the second quarter, Verint reported adjusted earnings per share (EPS) of $0.48, with revenue totaling $210.4 million. These figures contrasted with the Street estimates of an EPS of $0.57 and revenue of $225.1 million. The company's adjusted gross margin of 69.5% was slightly below the estimated margin of 69.8%.</p>
<p>Looking ahead, Verint anticipates its fiscal 2024 revenue to reach $910 million, which is lower than the Street expectation of $934.58 million.</p>
| NASDAQ:VRNT | https://financialmodelingprep.com/market-news/fmp-verint-systems-drops-15-following-q2-results | Davit Kirakosyan | Financial Modeling Prep |
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Semtech Earns an Upgrade at Needham | 2023-09-07 11:22:00 | <p>Needham & Company analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/SMTC'>Semtech (NASDAQ:SMTC)</a> from a Hold to a Buy rating and assigned a price target of $35.00.</p>
<p>The analysts’ decision to upgrade is based on a longer-term perspective. While the analysts acknowledge the potential for short-term volatility due to weak demand in the IoT and telecom markets, along with inventory adjustments, they believe that the upcoming earnings call provides an opportunity for Semtech's new CEO, Paul Pickle, to present a new long-term operational model. </p>
<p>This model is expected to demonstrate significant earnings potential, surpassing Street estimates. The analysts also anticipate that Pickle may highlight divestiture opportunities to generate cash for debt reduction. </p>
| NASDAQ:SMTC | https://financialmodelingprep.com/market-news/fmp-semtech-earns-an-upgrade-at-needham | Davit Kirakosyan | Financial Modeling Prep |
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C3.ai Drops 12% Following Q2 Report | 2023-09-07 08:45:00 | <p><a href='https://financialmodelingprep.com/financial-summary/AI'>C3.ai (NYSE:AI)</a> reported fiscal first quarter results on Wednesday that exceeded analysts' expectations, but the software maker now anticipates broader annual losses and no longer expects to achieve profitability in Q4, as it aims to increase investments in generative AI solutions. Following this report, C3.ai shares experienced more than a 12% decline in pre-market today.</p>
<p>The AI software company disclosed an adjusted loss of $0.09 per share with revenue amounting to $72.4 million, surpassing expectations for a loss of $0.17 per share and revenue of $71.56 million.</p>
<p>Looking ahead to fiscal 2024, the company now anticipates an adjusted loss ranging from $70 million to $100 million on revenue ranging from $295 million to $320.0 million. This contrasts with previous estimates of a loss between $50 million and $75 million on revenue ranging from $295 million to $320 million.</p>
| NYSE:AI | https://financialmodelingprep.com/market-news/fmp-c3ai-drops-12-following-q2-report | Davit Kirakosyan | Financial Modeling Prep |
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GameStop Reports Smaller Than Anticipated Loss for Q2 | 2023-09-07 08:34:00 | <p>On Wednesday, <a href='https://financialmodelingprep.com/financial-summary/GME'>GameStop (NYSE:GME)</a> announced a smaller-than-anticipated Q2 loss due to cost-cutting measures that helped mitigate the extent of their losses.</p>
<p>The company revealed an adjusted loss of $0.03 per share, with revenue totaling $1.16 billion, surpassing the expectations of Wall Street analysts who had predicted an adjusted loss of $0.14 per share and revenue of $1.14 billion.</p>
<p>During the quarter, the company reduced its selling, general, and administrative expenses from $387.5 million in the previous year to $322.5 million.</p>
<p>Furthermore, GameStop's inventory for the quarter decreased from $179.5 million in the same period the previous year to $83.5 million.</p>
| NYSE:GME | https://financialmodelingprep.com/market-news/fmp-gamestop-reports-smaller-than-anticipated-loss-for-q2 | Davit Kirakosyan | Financial Modeling Prep |
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Asana Shares Drop 12% Despite Q2 Beat | 2023-09-06 13:01:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ASAN'>Asana (NYSE:ASAN)</a> shares fell more than 12% intra-day today despite the company reporting better-than-expected Q2 results.</p>
<p>The company reported a loss of $0.04 per share, which was $0.07 better than what analysts had anticipated. Additionally, Asana's quarterly revenue reached $162.5 million, surpassing the Street estimate of $157.9 million. </p>
<p>Looking ahead to the third quarter, Asana anticipates an EPS ranging from ($0.11) to ($0.10), in contrast to the consensus estimate of ($0.15). Furthermore, the company projects third-quarter revenue to fall between $163.5 million and $164.5 million, compared to the Street estimate of $162.8 million.</p>
<p>For the fiscal year 2024, Asana forecasts an EPS within the range of ($0.42) to ($0.39), compared to the Street estimate of ($0.52). Additionally, the company expects full-year revenue to be in the range of $642 million to $648 million, compared to the Street estimate of $644.4 million.</p>
| NYSE:ASAN | https://financialmodelingprep.com/market-news/fmp-asana-shares-drop-12-despite-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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Block Slashed to Neutral at UBS | 2023-09-06 12:58:00 | <p>UBS analysts downgraded <a href='https://financialmodelingprep.com/financial-summary/SQ'>Block (NYSE:SQ)</a> from a Buy to a Neutral rating while also lowering the stock's price target from $102 to $65. This change in stance is driven by the analysts’ belief that the company's slowing growth will constrain any significant upward movement in its share price. </p>
<p>The analysts explained in their research note that Block's gross profit growth is expected to decelerate in the latter part of 2023 and in 2024. This deceleration is attributed to factors such as a decrease in consumer discretionary spending, a slowdown in the growth rate of Cash App monthly active users, and a moderation in Cash App monetization rates. </p>
<p>The analysts also pointed out that, despite Block's consistent improvement in profitability and its track record of surpassing quarterly adjusted EBITDA expectations, investors seem to be more concerned about the company's potential for gross profit growth.</p>
| NYSE:SQ | https://financialmodelingprep.com/market-news/fmp-block-slashed-to-neutral-at-ubs | Davit Kirakosyan | Financial Modeling Prep |
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GitLab Surges 4% on Q2 Beat & Strong Guidance | 2023-09-06 12:56:00 | <p><a href='https://financialmodelingprep.com/financial-summary/GTLB'>GitLab (NASDAQ:GTLB)</a> reported robust Q2 results that have exceeded expectations and subsequently raised its full-year outlook, causing its shares to surge by more than 4% intra-day today.</p>
<p>In terms of earnings per share, the company posted $0.01, outperforming the Street estimate by $0.04. Furthermore, GitLab's quarterly revenue reached $139.6 million, surpassing the Street estimate of $129.8 million.</p>
<p>Looking forward to the third quarter of 2024, GitLab is projecting an EPS ranging from ($0.02) to ($0.01), compared to the Street estimate of ($0.04). Additionally, the company anticipates third-quarter revenue to fall between $140 million and $141 million, exceeding the Street estimate of $138.1 million.</p>
<p>For the fiscal year 2024, GitLab is forecasting a loss per share of 8 cents to 5 cents, which is notably better than the analysts' anticipated loss per share of $0.14. Furthermore, the company expects full-year revenue to be within the range of $555 million to $557 million, surpassing the Street estimate of $542.8 million.</p>
| NASDAQ:GTLB | https://financialmodelingprep.com/market-news/fmp-gitlab-surges-4-on-q2-beat-&-strong-guidance | Davit Kirakosyan | Financial Modeling Prep |
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Chipotle Mexican Grill a Bullish Fresh Pick at Baird | 2023-09-06 12:39:00 | <p>Baird analysts updated the firm's research coverage of restaurant stocks, noting an appealing short-term trading opportunity due to potential positive catalysts in the coming months.</p>
<p>In particular, they highlighted <a href='https://financialmodelingprep.com/financial-summary/CMG'>Chipotle Mexican Grill (NYSE:CMG)</a> as a new Bullish Fresh Pick at Baird. The analysts anticipate that signs of strong same-store traffic growth and further price increases will likely lead to upward adjustments in EPS estimates. These developments are expected to improve the company's valuation metrics as the year draws to a close.</p>
<p>The analysts also emphasized the current drop in the stock price, suggesting that it presents a compelling opportunity to invest in the company ahead of several potential positive developments that could occur by the end of 2023.</p>
| NYSE:CMG | https://financialmodelingprep.com/market-news/fmp-chipotle-mexican-grill-a-bullish-fresh-pick-at-baird | Davit Kirakosyan | Financial Modeling Prep |
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Roku Announces 10% Workforce Cut & Raises Q3 Forecast | 2023-09-06 09:44:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ROKU'>Roku (NASDAQ:ROKU)</a> is set to trim its workforce by roughly 10% as part of its ongoing efforts to manage the growth rate of its annual operating expenses. As a result, shares jumped more than 9% pre-market today.</p>
<p>This move is projected to result in a cost of between $45 million and $65 million, according to a company filing. The majority of these expenses will be recorded in the third quarter of the year, and the reduction in staff is expected to be largely completed by the end of the fourth quarter, as confirmed by Roku.</p>
<p>Previously in March, Roku had announced a broader restructuring plan that entailed cutting approximately 6% of its workforce. As a result of these changes, the company now forecasts its third-quarter net revenue, excluding restructuring impacts, to fall within the range of $835 million to $875 million, up from its previous estimate of about $815 million.</p>
| NASDAQ:ROKU | https://financialmodelingprep.com/market-news/fmp-roku-announces-10-workforce-cut-&-raises-q3-forecast | Davit Kirakosyan | Financial Modeling Prep |
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Stryker Upgraded to Buy at BofA Securities | 2023-09-06 09:42:00 | <p>BofA Securities analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/SYK'>Stryker (NYSE:SYK)</a> from a Neutral rating to a Buy, while also raising the price target from $310.00 to $315.00. </p>
<p>The analysts' rationale for the upgrade centers on several factors, including Stryker's improved outlook on profit margins, a positive product cycle that could boost revenue growth, strong capital visibility through 2024, a favorable orthopedic segment outlook, and the potential for enhanced operating margins, which could lead to a 2% increase in earnings per share. </p>
<p>As a result, the new price target reflects the same 27x multiple for 2024 earnings but with slightly higher expected EPS.</p>
| NYSE:SYK | https://financialmodelingprep.com/market-news/fmp-stryker-upgraded-to-buy-at-bofa-securities | Davit Kirakosyan | Financial Modeling Prep |
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HashiCorp Reports Q2 Beat & Strong Guidance | 2023-09-05 12:32:00 | <p><a href='https://financialmodelingprep.com/financial-summary/HCP'>HashiCorp (NASDAQ:HCP)</a> reported its Q2 results, with earnings per share (EPS) of ($0.10), which surpassed the Street estimate of ($0.15). The company's revenue stood at $143.2 million, outperforming the Street estimate of $138.22 million.</p>
<p>Looking ahead to Q3/24, HashiCorp projects EPS within the range of ($0.05)-($0.03), compared to the Street estimate of ($0.04), and anticipates revenue ranging from $142 million to $144 million, in contrast to the Street estimate of $141.74 million.</p>
<p>For the full year, HashiCorp foresees EPS falling within the bracket of ($0.23)-($0.21), surpassing the Street estimate of ($0.26), along with revenue ranging between $571 million and $575 million, exceeding the Street estimate of $567.59 million.</p>
| NASDAQ:HCP | https://financialmodelingprep.com/market-news/fmp-hashicorp-reports-q2-beat-&-strong-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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Broadcom Posts Q3 Beat, Guidance Slighly Worse Than Expected | 2023-09-05 12:30:00 | <p><a href='https://financialmodelingprep.com/financial-summary/AVGO'>Broadcom (NASDAQ:AVGO)</a> reported its Q3 earnings, revealing an EPS of $10.54, surpassing the analyst projection of $10.43. The revenue for the quarter reached $8.88 billion, slightly exceeding the Street estimate of $8.85 billion.</p>
<p>The company attributed the quarter's revenue growth to heightened demand for advanced networking technologies, driven by the expansion of hyperscale customers and the integration of AI clusters within data centers.</p>
<p>Looking ahead, Broadcom anticipates Q4 2023 revenue to amount to $9.27 billion, in contrast to the projected consensus of $9.28 billion. Additionally, the company expects Adjusted EBITDA for the fourth quarter to be around 65 percent of the forecasted revenue. </p>
| NASDAQ:AVGO | https://financialmodelingprep.com/market-news/fmp-broadcom-posts-q3-beat-guidance-slighly-worse-than-expected- | Davit Kirakosyan | Financial Modeling Prep |
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Oracle Upgraded at Barclays, Shares Gain 2% | 2023-09-05 12:28:00 | <p>Barclays analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/ORCL'>Oracle (NYSE:ORCL)</a> from an Equal Weight rating to an Overweight rating. The new price target for the stock is set at $150 per share, a notable increase from the previous target of $126. Shares rose more than 2% intra-day today.</p>
<p>The analysts mentioned that there is a promising opportunity for sustained growth at favorable profit margins for several years. This is primarily driven by a continuous positive influence of improved Software as a Service (SaaS) and Oracle Cloud Infrastructure (OCI) offerings, which outweigh the slower-growing segments of the company's operations.</p>
<p>Analysts emphasized the view that this beneficial mix effect is anticipated to bolster growth for an extended period. They are confident that these levels of growth can be upheld in the years ahead, as the advantageous mix effect is still in its early stages.</p>
<p>Furthermore, the Barclays analysts also express optimism regarding the potential of Artificial Intelligence (AI) within Oracle's opportunities.</p>
| NYSE:ORCL | https://financialmodelingprep.com/market-news/fmp-oracle-upgraded-at-barclays-shares-gain-2 | Davit Kirakosyan | Financial Modeling Prep |
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Lowe's Upgraded to Outperform at Bernstein | 2023-09-05 12:25:00 | <p>Bernstein analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/LOW'>Lowe's (NYSE: LOW)</a> from a Market Perform rating to an Outperform rating. In a note issued on Tuesday, the analysts raised the stock's price target to $282 per share, up from the previous target of $252.</p>
<p>The analysts highlighted a convergence of positive trends that are mutually reinforcing for the company, and they anticipate these trends to persist. The analysts' viewpoint is that Lowe's is poised to achieve a gradual expansion of operational margins over the next two years, driven by a continuous moderate increase in gross margins of approximately 5 to 10 basis points per year, combined with the stability or modest improvement of operating expenses as a percentage of sales.</p>
<p>Bernstein expressed confidence in the near-term outlook for the home improvement market and envisions a return to low-single-digit growth through 2024-25 as the housing market becomes more stable.</p>
| NYSE:, LOW | https://financialmodelingprep.com/market-news/fmp-lowes-upgraded-to-outperform-at-bernstein- | Davit Kirakosyan | Financial Modeling Prep |
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Nutanix Shares Surge 12% Following Strong Q4 Results | 2023-09-04 14:53:00 | <p><a href='https://financialmodelingprep.com/financial-summary/NTNX'>Nutanix (NASDAQ:NTNX)</a> shares closed with more than a 12% gain on Friday following the release of the company's Q4 financial results.</p>
<p>The earnings per share (EPS) of $0.24 exceeded the Street estimate of $0.16. Additionally, the company's revenue witnessed a 28% year-over-year growth, reaching $494.2 million, surpassing the Street estimate of $475.24 million.</p>
<p>Looking ahead to Q1/24, Nutanix anticipates generating revenue within the range of $495 million to $505 million, which is above the projected consensus figure of $487.2 million. The company also expects its ACV (Annual Contract Value) billings to fall between $260 million and $270 million.</p>
<p>For the full year, Nutanix envisions its revenue to range between $2.085 billion and $2.115 billion, as opposed to the Street forecast of $2.08 billion. The ACV billings for the year are expected to be within the $1.075 billion to $1.095 billion range.</p>
| NASDAQ:NTNX | https://financialmodelingprep.com/market-news/fmp-nutanix-shares-surge-12-following-strong-q4-results | Davit Kirakosyan | Financial Modeling Prep |
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Elastic Shares Jump 20% Following Strong Q1 Results | 2023-09-04 14:51:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ESTC'>Elastic (NYSE:ESTC)</a> shares jumped more than 20% on Friday after the company released its first-quarter results, which significantly exceeded expectations.</p>
<p>The revenue achieved a total of $293.8 million, marking a 17% increase compared to the previous year and surpassing the estimated value of $284.8 million. The adjusted earnings per share (EPS) amounted to 25 cents, significantly higher than the anticipated 11 cents per share.</p>
<p>In the upcoming second quarter, Elastic is projecting adjusted earnings per share to range between 23 cents and 25 cents, surpassing the Street estimate of 20 cents.</p>
<p>Furthermore, Elastic has outlined its revenue expectations for the same period, estimating revenue to fall within the range of $303 million to $305 million, compared to the analyst's prediction of $302.4 million.</p>
<p>The company has revised its full-year 2024 forecast, projecting revenue to range between $1.24 billion and $1.25 billion, and adjusted EPS to be $1.06. Analysts expected an adjusted EPS of $1.01 on revenue amounting to $1.24 billion.</p>
| NYSE:ESTC | https://financialmodelingprep.com/market-news/fmp-elastic-shares-jump-20-following-strong-q1-results | Davit Kirakosyan | Financial Modeling Prep |
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PagerDuty Shares Drop 7% on Weak Guidance | 2023-09-04 14:48:00 | <p><a href='https://financialmodelingprep.com/financial-summary/PD'>PagerDuty (NYSE:PD)</a> experienced a decline of over 7% on Friday following the company's issuance of a forecast that fell short of expectations.</p>
<p>Second quarter earnings per share (EPS) of $0.19 exceeded the Street estimate of $0.11. Furthermore, the revenue exhibited a year-over-year growth of 19.2%, reaching $107.6 million, which surpassed the Street estimate of $104.46 million.</p>
<p>In the third quarter of 2024, PagerDuty anticipates revenue to fall within the range of $106.5 million to $108.5 million, signifying a growth rate of 13% to 15% year-over-year. The projected EPS stands at $0.13 to $0.14. These figures contrast with the consensus estimates of $106.91 million in revenue and $0.15 in EPS.</p>
<p>For the full year, the company anticipates the EPS to range from $0.60 to $0.65, compared to the Street forecast of $0.62. Similarly, the revenue forecast spans from $426 million to $430 million, in contrast to the Street estimate of $427.7 million.</p>
| NYSE:PD | https://financialmodelingprep.com/market-news/fmp-pagerduty-shares-drop-7-on-weak-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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SentinelOne Surges 3% on Q2 Beat | 2023-09-04 14:46:00 | <p><a href='https://financialmodelingprep.com/financial-summary/S'>SentinelOne (NYSE:S)</a> shares gained more than 3% on Friday after the cybersecurity firm outperformed analysts' expectations for its second-quarter results.</p>
<p>The company disclosed a revenue of $149.4 million, surpassing the anticipated revenue of $141.1 million. Additionally, SentinelOne revealed a loss of 8 cents per share, which was better than the expected loss of 14 cents per share.</p>
<p>For the third quarter of 2024, SentinelOne foresees revenue amounting to $156.00 million, slightly higher than the Street estimate of $154.20 million.</p>
<p>Looking at the full 2024 year, SentinelOne has raised its revenue projection, now aiming for sales to reach $605.00 million. This forecast exceeds the Street estimate of $594.77 million.</p>
| NYSE:S | https://financialmodelingprep.com/market-news/fmp-sentinelone-surges-3-on-q2-beat- | Davit Kirakosyan | Financial Modeling Prep |
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Dell Stock Jumps 21% Following Strong Q2 Beat | 2023-09-02 09:08:00 | <p><a href='https://financialmodelingprep.com/financial-summary/DELL'>Dell Technologies (NYSE:DELL)</a> shares surged more than 21% on Friday after the company reported its second-quarter earnings that significantly exceeded expectations. </p>
<p>Dell posted adjusted earnings per share (EPS) of $1.74 on revenue of $22.93 billion, surpassing predictions of $1.14 and $20.86 billion, respectively.</p>
<p>In Q2, recurring revenue saw an 8% increase to $5.6 billion year-over-year, primarily propelled by higher service and software maintenance agreements, as highlighted by the company.</p>
<p>Following the report, Goldman Sachs analysts reiterated their Buy rating, influenced by the anticipation of sustained PC outperformance and robust demand for AI-infrastructure solutions. However, the analysts acknowledged Dell's cautious stance regarding IT spending trends, particularly the challenges from weak large corporate and global enterprise customers, despite the stability observed in government and small to medium-sized businesses. These trends might persist as a hurdle to long-term growth.</p>
| NYSE:DELL | https://financialmodelingprep.com/market-news/fmp-dell-stock-jumps-21-following-strong-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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Lululemon Athletica Stock Surges 6% on Q2 Beat & Raised Guidance | 2023-09-02 09:05:00 | <p><a href='https://financialmodelingprep.com/financial-summary/LULU'>Lululemon Athletica (NASDAQ:LULU)</a> shares rose more than 6% on Friday after the company surpassed expectations for the quarterly results and adjusted its outlook.</p>
<p>The retailer disclosed second-quarter earnings of $2.68 per share, with revenue amounting to $2.2 billion. This outperformed analyst forecasts of $2.54 per share in earnings and $2.17 billion in revenue. Notably, the total revenue demonstrated an 18% increase compared to the corresponding period last year.</p>
<p>Lululemon anticipates third-quarter earnings within the range of $2.23 to $2.28 per share, alongside revenue spanning $2.17 billion to $2.19 billion.</p>
<p>For the full year, management anticipates a profit between $12.10 and $12.17 per share, along with a revenue range of $9.51 billion to $9.57 billion.</p>
| NASDAQ:LULU | https://financialmodelingprep.com/market-news/fmp-lululemon-athletica-stock-surges-6-on-q2-beat-&-raised-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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Chewy Stock Plunges 12% on Disappointing Guidance | 2023-09-01 00:05:00 | <p><a href='https://financialmodelingprep.com/financial-summary/CHWY'>Chewy (NYSE:CHWY)</a> posted Q2 EPS of $0.15, surpassing the Street projection of ($0.04) by $0.19. The quarter's revenue totaled $2.78 billion, outperforming the Street estimate of $2.76 billion.</p>
<p>However, the company’s shares plummeted more than 12% on Thursday on the company’s full-year sales forecast that fell short of expectations.</p>
<p>Chewy anticipates net sales for the third quarter to range between $2.74 billion and $2.76 billion. For the entire year, the projected net sales range is $11.15 billion to $11.35 billion. The midpoint of the guidance falls below analysts' expectations of $2.79 billion for the quarter and $11.31 billion for the year.</p>
<p>Following the results, Evercore ISI lowered its rating for the company from Outperform to In Line and adjusted the price target down by $18 to $35 per share.</p>
<p>The analysts expressed caution, citing a disappointing decline in net additions during Q2, following a modest increase in Q1. They also pointed to the company's soft outlook for net additions in the second half of the year.</p>
| NYSE:CHWY | https://financialmodelingprep.com/market-news/fmp-chewy-stock-plunges-12-on-disappointing-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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3M Shares Gain 2% Following Morgan Stanley Upgrade | 2023-09-01 00:01:00 | <p>Morgan Stanley upgraded <a href='https://financialmodelingprep.com/financial-summary/MMM'>3M (NYSE:MMM)</a> to an Equal-weight rating from Underweight and adjusted their 12-month price target on the stock to $113.00, up from $102.00. As a result, shares rose more than 2% on Thursday.</p>
<p>The upgrade is attributed to the analysts’ observation of a reduction in the company's liabilities. According to the bank, the anticipated liabilities related to PFAS and Combat Arms could surpass the reported settlement amounts. They noted that ongoing litigation concerning PFAS from various sources and the likelihood of opt-outs from the Combat Arms settlement for stronger claims are factors contributing to this assessment.</p>
<p>3M recently revealed an agreement to settle the Combat Arms Earplug litigation with Aearo Technologies, amounting to approximately $6 billion.</p>
| NYSE:MMM | https://financialmodelingprep.com/market-news/fmp-3m-shares-gain-2-following-morgan-stanley-upgrade | Davit Kirakosyan | Financial Modeling Prep |
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Arista Networks Surges 4% Following Citi’s Upgrade | 2023-08-31 23:58:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ANET'>Arista Networks (NYSE:ANET)</a> gained more than 4% on Thursday after receiving an upgrade from Citi. The upgrade is rooted in the company’s potential as an early entrant in AI and its connection to the resurgence of cloud spending for 400G infrastructure.</p>
<p>Citi analysts raised the stock's rating from Neutral to Buy and adjusted the price target to $220 from $177.</p>
<p>The upgrade is driven by the expectation that cloud expenditure for 400G will bounce back in the next year, driven by increased spending from hyperscale companies on traditional data center infrastructure and the recovery of capital expenditure from a key customer. Malik also highlighted the anticipation that Ethernet will gain a larger share in the competition with InfiniBand as AI clusters expand and become more widely integrated into existing networks.</p>
| NYSE:ANET | https://financialmodelingprep.com/market-news/fmp-arista-networks-surges-4-following-citi’s-upgrade | Davit Kirakosyan | Financial Modeling Prep |
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Box Stock Drops 12% on Weak Guidance | 2023-08-31 12:06:00 | <p><a href='https://financialmodelingprep.com/financial-summary/BOX'>Box (NYSE:BOX)</a> shares fell more than 12% on Wednesday subsequent to the release of the company’s Q2 results. The reported earnings per share (EPS) were $0.36, slightly exceeding the Street estimate of $0.35.</p>
<p>Revenue exhibited a year-over-year increase of 6%, amounting to $261.43 million, compared to the Street estimate of $261.32 million. Despite the Q2 results surpassing expectations, the company offered weak guidance.</p>
<p>For the third quarter of the fiscal year 2024, the projected EPS falls within the range of $0.37 to $0.38, while revenue is forecasted to range from $261 million to $263 million.</p>
<p>For the full year, Box envisions an EPS ranging from $1.46 to $1.50, coupled with revenue ranging from $1.040 billion to $1.044 billion.</p>
| NYSE:BOX | https://financialmodelingprep.com/market-news/fmp-box-stock-drops-12-on-weak-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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Hewlett Packard Enterprise Posts Q3 Beat, Provides Mixed Guidance | 2023-08-31 12:04:00 | <p><a href='https://financialmodelingprep.com/financial-summary/HPE'>Hewlett Packard Enterprise (NYSE:HPE)</a> reported its Q3 results, with earnings per share (EPS) of $0.49 and revenue amounting to $7 billion (up 1% year-over-year) exceeding the Street estimates of $0.47 and $6.99 billion, respectively. The annualized revenue run rate (ARR) exhibited a year-over-year growth of 48%, reaching $1.3 billion.</p>
<p>For the fourth quarter of 2023, HPE anticipates EPS to fall within the range of $0.48 to $0.52, compared to the Street estimate of $0.49. The projected revenue for this period ranges from $7.2 billion to $7.5 billion, as opposed to the Street estimate of $7.49 billion.</p>
<p>Regarding the full year, the company foresees an EPS ranging from $2.11 to $2.15, compared to the Street estimate of $2.11.</p>
| NYSE:HPE | https://financialmodelingprep.com/market-news/fmp-hewlett-packard-enterprise-posts-q3-beat-provides-mixed-guidance | Davit Kirakosyan | Financial Modeling Prep |
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MasterCraft Shares Plunge 12% on Disappointing Guidance | 2023-08-31 12:02:00 | <p><a href='https://financialmodelingprep.com/financial-summary/MCFT'>MasterCraft (NASDAQ:MCFT)</a> posted Q4 earnings per share (EPS) of $1.37, surpassing the analyst prediction of $1.07 by $0.30. The quarter's revenue totaled $166.6 million, exceeding the Street estimate of $162.08 million.</p>
<p>Despite its strong Q4 results, MasterCraft Boat provided a notably pessimistic full-year projection, reflecting concerns that industry retail unit sales could decrease by as much as the mid-teens percentage for 2024. In reaction to this, shares plummeted more than 12% on Wednesday.</p>
<p>The company's outlook for the full year anticipates net sales ranging from $390 million to $420 million, significantly below the Street estimate of $657.6 million. Additionally, MasterCraft Boat projects an adjusted EPS between $1.46 and $1.88, which contrasts sharply with analysts' expectations of $5.06 per share.</p>
<p>For the first quarter of 2024, the company anticipates net sales of $98 million, considerably less than the estimated $133.6 million. The projected adjusted EPS for the first quarter is 41 cents, compared to the anticipated 95 cents.</p>
| NASDAQ:MCFT | https://financialmodelingprep.com/market-news/fmp-mastercraft-shares-plunge-12-on-disappointing-guidance | Davit Kirakosyan | Financial Modeling Prep |
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Centene Receives a Downgrade at Morgan Stanley | 2023-08-31 06:33:00 | <p>Morgan Stanley analysts adjusted their rating for <a href='https://financialmodelingprep.com/financial-summary/CNC'>Centene (NYSE:CNC)</a> from Overweight to Equalweight. The new price target stands at $73.00, down from the previous $94.00.</p>
<p>The analysts explained the downgrade by expressing diminished confidence in the predictability and consistency of Centene's long-term earnings growth trajectory. They pointed out uncertainties emerging around the multi-year recovery of Medicare Advantage Star Ratings and the company's potential to secure future Medicaid RFPs. These uncertainties are increasingly raising doubts about Centene's foundational long-term growth narrative.</p>
| NYSE:CNC | https://financialmodelingprep.com/market-news/fmp-centene-receives-a-downgrade-at-morgan-stanley | Davit Kirakosyan | Financial Modeling Prep |
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Futu Stock Surges 9% After BofA Securities’ Double Upgrade | 2023-08-31 06:30:00 | <p><a href='https://financialmodelingprep.com/financial-summary/FUTU'>Futu Holdings (NASDAQ:FUTU)</a> saw a rise of over 9% in its stock price on Tuesday after BofA Securities upgraded its rating from Underperform to Buy. The bank also increased its price target for the stock to $62.82 from $32.15.</p>
<p>The upgrade was prompted by BofA's increased optimism regarding the stock. They highlighted the stabilization of China's regulations, along with the current sentiment and valuation being at a low point. Positive advancements in Hong Kong and international markets further supported the upgrade.</p>
<p>Consequently, BofA adjusted its projected earnings per share (EPS) for the years 2023-2025, with increases ranging from 7% to 24%. The target price-to-earnings ratio (P/E) was also modified, shifting from 8x to 14x. Despite the adjustment, the P/E remains below the midpoint of the trading range, reflecting recent regulatory tightening in China.</p>
| NASDAQ:FUTU | https://financialmodelingprep.com/market-news/fmp-futu-stock-surges-9-after-bofa-securities’-double-upgrade | Davit Kirakosyan | Financial Modeling Prep |
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HP Drops 8% on Q3 Revenue Miss & Weak Guidance | 2023-08-30 11:15:00 | <p><a href='https://financialmodelingprep.com/financial-summary/HPQ'>HP (NYSE:HPQ)</a> shares fell more than 8% intra-day today after the company released its fiscal third-quarter revenue figures that fell short of expectations, along with less robust annual earnings guidance due to a weak environment for PC demand.</p>
<p>The company reported an adjusted EPS of $0.86 on revenue amounting to $13.2 billion. Analysts had expected an adjusted EPS of $0.86 on revenue of $13.38 billion.</p>
<p>Looking ahead, HP projected an adjusted fourth-quarter EPS ranging from $0.85 to $0.97, compared to Wall Street predictions of an EPS of $0.95. For the year 2023, the company estimated an adjusted EPS within the range of $3.23 to $3.35, which falls below the estimated figure of $3.37.</p>
| NYSE:HPQ | https://financialmodelingprep.com/market-news/fmp-hp-drops-8-on-q3-revenue-miss-&-weak-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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Apple to Increase iPhone 15 Pro Price by $100 to $200, Analysts Expect | 2023-08-30 11:13:00 | <p><a href='https://financialmodelingprep.com/financial-summary/AAPL'>Apple (NASDAQ:AAPL)</a> has revealed that its highly anticipated special event is scheduled for September 12. Anticipated announcements include the introduction of the iPhone 15 and iPhone 15 Pro. These models are rumored to bring significant improvements such as new color selections, enhanced battery performance, a shift from Apple's proprietary lightning connector to USB-C, faster charging, and notably upgraded camera capabilities.</p>
<p>BofA Securities analysts think the focus of the upcoming event will be the new iPhone's pricing and the timing and sequence of its launch.
Citi analysts anticipate Apple will raise prices for the iPhone 15 Pro versions by $100 to $200.</p>
| NASDAQ:AAPL | https://financialmodelingprep.com/market-news/fmp-apple-to-increase-iphone-15-pro-price-by-$100-to-$200-analysts-expect | Davit Kirakosyan | Financial Modeling Prep |
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PVH Reports Q2 Beat, Shares Slightly Up | 2023-08-30 11:10:00 | <p><a href='https://financialmodelingprep.com/financial-summary/PVH'>PVH (NYSE:PVH)</a> saw its shares rise more than 1% intra-day today as the parent company of fashion brands Tommy Hilfiger and Calvin Klein surpassed Q2 expectations.</p>
<p>The company revealed adjusted earnings per share of $1.98, accompanied by revenue of $2.21 billion. Analysts had predicted adjusted earnings of $1.76 per share on revenue of $2.19 billion.</p>
<p>PVH projected that its third-quarter earnings per share would be around $2.70, with revenue expected to grow in the middle-single digits compared to the same period last year.</p>
<p>For the full year, the company forecasts adjusted earnings per share of $10.35, with revenue expected to rise between 3% and 4%.</p>
| NYSE:PVH | https://financialmodelingprep.com/market-news/fmp-pvh-reports-q2-beat-shares-slightly-up | Davit Kirakosyan | Financial Modeling Prep |
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nCino Reports Q2 Beat & Raises Full Year Outlook, Shares Jump 7% | 2023-08-30 11:08:00 | <p><a href='https://financialmodelingprep.com/financial-summary/NCNO'>nCino (NASDAQ:NCNO)</a> released its second-quarter results, with earnings per share (EPS) of $0.09, surpassing the analyst projection of $0.07. The quarter's revenue amounted to $117.24 million, which exceeded the Street estimate of $114.98 million. As a result, shares jumped more than 7% intra-day today.</p>
<p>The company raised its full-year outlook. The software firm now projects an adjusted EPS for the full year ranging from 38 cents to 41 cents, a slight increase from the earlier range of 37 cents to 40 cents. Furthermore, nCino anticipates the full-year revenue to fall within the range of $475.0 million to $478.5 million, slightly elevated from the previous range of $474.0 million to $478.5 million. Analysts had initially estimated full-year EPS of 38 cents on revenue of $476.6 million.</p>
<p>Regarding the third quarter, nCino forecasts revenue in the range of $120.0 million to $121.0 million, slightly below the Street estimate of $121.3 million. The adjusted EPS for the third quarter is anticipated to be between 10 cents and 12 cents, aligning with expectations.</p>
| NASDAQ:NCNO | https://financialmodelingprep.com/market-news/fmp-ncino-reports-q2-beat-&-raises-full-year-outlook-shares-jump-7 | Davit Kirakosyan | Financial Modeling Prep |
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Johnson & Johnson Updates Guidance After Kenvue Separation | 2023-08-30 09:01:00 | <p>Following the completion of the Kenvue separation, <a href='https://financialmodelingprep.com/financial-summary/JNJ'>Johnson & Johnson (NYSE:JNJ)</a> revised its financials and 2023 guidance. The Consumer Health business financial results will now be presented as discontinued operations, encompassing a gain of approximately $20 billion in Q3/23. The company disclosed a total sales figure of $42.41 billion for the first half of its fiscal year, with adjusted earnings per share amounting to $4.97.</p>
<p>JNJ's updated guidance reveals expectations of adjusted operational sales growth of 6.7%, excluding the Consumer Health business. This contrasts with the earlier projection of 6.5% growth that included the Consumer Health business. </p>
<p>Post-Kenvue separation, operational sales are projected to range from $83.6 billion to $84.4 billion, marking a change from the previous estimate of $99.3 billion to $100.3 billion. Adjusted earnings per share have been revised to $10.05, down from the previous $10.75.</p>
| NYSE:JNJ | https://financialmodelingprep.com/market-news/fmp-johnson-&-johnson-updates-guidance-after-kenvue-separation | Davit Kirakosyan | Financial Modeling Prep |
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Ambarella Posts Q2 Beat, But Shares Plunge 20% on Disappointing Guidance | 2023-08-30 08:59:00 | <p><a href='https://financialmodelingprep.com/financial-summary/AMBA'>Ambarella (NASDAQ:AMBA)</a> shares experienced a pre-market drop exceeding 20% today following the release of its Q2 financial results. </p>
<p>Despite Q2 earnings per share (EPS) of ($0.15) and revenue amounting to $62.1 million, which exceeded predicted consensus figures of ($0.21) and $62.02 million, respectively, the provided Q3 guidance fell short of expectations. </p>
<p>For the upcoming Q3/24, Ambarella anticipates revenue of around $50 million, with a variance of 4% in either direction, contrasting with the projected consensus of $67.6 million.</p>
| NASDAQ:AMBA | https://financialmodelingprep.com/market-news/fmp-ambarella-posts-q2-beat-but-shares-plunge-20-on-disappointing-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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Catalent Gains 5% on Q4 Beat & Agreement With Elliot | 2023-08-29 12:43:00 | <p><a href='https://financialmodelingprep.com/financial-summary/CTLT'>Catalent (NYSE:CTLT)</a> announced Q4 earnings that surpassed expectations and provided guidance that exceeded analyst predictions. As a result, shares gained more than 5% intra-day today. </p>
<p>The release of the earnings report coincides with the introduction of a new committee that will carry out an extensive evaluation of the company's business operations, strategy, and capital allocation priorities.</p>
<p>Additionally, Catalent has reached a cooperation agreement with activist investor Elliott Investment Management, resulting in specific standstill provisions. John Greisch, the former CEO of Hill-Rom and a senior adviser to TPG Capital, has been appointed as the Executive Chair of the Board. The company's Board of Directors will see the addition of four new independent members: Steven Barg, Frank D’Amelio, Stephanie Okey, and Michelle Ryan – all nominated by Elliott.</p>
<p>Catalent reported quarterly revenue of $1.07 billion, reflecting a year-on-year decrease of 19%, though surpassing the projected $1.05 billion.</p>
<p>Looking ahead, Catalent anticipates its revenue for fiscal 2024 to range between $4.3 billion and $4.5 billion, exceeding the Street estimate of $4.26 billion.</p>
| NYSE:CTLT | https://financialmodelingprep.com/market-news/fmp-catalent-gains-5-on-q4-beat-&-agreement-with-elliot- | Davit Kirakosyan | Financial Modeling Prep |
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Abcam to be Acquired by Danaher for $5.7 Billion | 2023-08-29 12:40:00 | <p><a href='https://financialmodelingprep.com/financial-summary/DHR'>Danaher Corporation (NYSE:DHR)</a> and <a href='https://financialmodelingprep.com/financial-summary/ABCM'>Abcam (NASDAQ:ABCM)</a> announced a definitive agreement for acquisition. In this deal, Danaher will acquire all currently outstanding shares of Abcam at a cash price of $24.00 per share. The total value of the acquisition stands at approximately $5.7 billion, accounting for assumed debts and subtracting acquired cash.</p>
<p>Upon completion, Abcam is expected to maintain its independent operational status and retain its unique brand identity within Danaher's Life Sciences segment.</p>
<p>The transaction is set to close in mid-2024. Danaher intends to finance the acquisition through available cash and proceeds from the issuance of commercial paper.</p>
| NYSE:DHR, NASDAQ:ABCM | https://financialmodelingprep.com/market-news/fmp-abcam-to-be-acquired-by-danaher-for-$57-billion | Davit Kirakosyan | Financial Modeling Prep |
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NIO Plummets 14% Following Q2 Miss | 2023-08-29 12:37:00 | <p><a href='https://financialmodelingprep.com/financial-summary/NIO'>NIO (NYSE:NIO)</a> shares plunged more than 14% intra-day today subsequent to the disclosure of its financial performance for the second quarter. In this period, the company reported an adjusted operating loss of 5.46 billion yuan, which exceeded the projected loss of 4.78 billion yuan. While revenue for the quarter amounted to 8.77 billion yuan, it fell short of the consensus figure of 9.16 billion yuan.</p>
<p>Nio accomplished a total delivery of 23,520 vehicles during the second quarter of 2023, consisting of 10,492 premium smart electric SUVs and 13,028 premium smart electric sedans. These statistics showcase a 6.1% decrease from the equivalent timeframe in 2022 and a 24.2% decline from the previous quarter in 2023.</p>
<p>Regarding future guidance, NIO foresees a Q3/23 revenue surge of 45.3-50.1% to a range of 18.898-19.52 billion yuan, surpassing analysts' estimates of 17.2 billion yuan.</p>
<p>The company also anticipates delivering 55,000 to 57,000 vehicles during the same quarter, signifying a significant rise of approximately 74.0% to 80.3% compared to the corresponding period in 2022. This forecast exceeds analysts' projection of 48,465 deliveries.</p>
| NYSE:NIO | https://financialmodelingprep.com/market-news/fmp-nio-plummets-14-following-q2-miss | Davit Kirakosyan | Financial Modeling Prep |
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Pinduoduo Stock Jumps 17% on Strong Q2 Earnings | 2023-08-29 12:34:00 | <p><a href='https://financialmodelingprep.com/financial-summary/PDD'>Pinduoduo (NASDAQ:PDD)</a> shares jumped more than 17% intra-day today following the company's remarkable performance in the second quarter, which greatly exceeded expectations.</p>
<p>During the quarter, Pinduoduo reported an EPS of 10.47 yuan per share, surpassing the Street projection by 3.17 yuan. Furthermore, the company's revenue for the quarter totaled 52.28 billion yuan, significantly outpacing the Street estimate of 43.36 billion yuan.</p>
<p>PDD's earnings from online marketing services and other sources reached 37.93 billion yuan, surpassing the expected 32.07 billion yuan. Additionally, the revenue generated from transaction services amounted to 14.35 billion yuan, exceeding the consensus forecast of 11.14 billion yuan.</p>
| NASDAQ:PDD | https://financialmodelingprep.com/market-news/fmp-pinduoduo-stock-jumps-17-on-strong-q2-earnings- | Davit Kirakosyan | Financial Modeling Prep |
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Oracle Upgraded at UBS, Shares Surge 2% | 2023-08-29 07:43:00 | <p>UBS analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/ORCL'>Oracle (NYSE:ORCL)</a> to Buy from Neutral and increased their price target to $140.00 from $120.00. As a result, shares surged more than 2% pre-market today.</p>
<p>This shift stems from UBS' strengthened belief that Oracle possesses an underappreciated advantage in terms of its Graphics Processing Unit (GPU) capacity and Oracle Cloud Infrastructure (OCI) architecture. The analysts anticipate this edge will attract new clients and drive greater utilization of OCI services.</p>
<p>According to the analysts, their investigations align with the idea that Oracle is enjoying substantial allocations of Nvidia GPUs compared to its size. They suggest a potential 6-12 month period of GPU shortage concerns lies ahead, and the conversion of $2 billion in AI start-up commitments to OCI usage hasn't even occurred yet.</p>
<p>Despite Oracle's stock already experiencing a 42% year-to-date surge, UBS believes that the ongoing GPU supply constraints might result in a sustained strong performance for Oracle shares.</p>
| NYSE:ORCL | https://financialmodelingprep.com/market-news/fmp-oracle-upgraded-at-ubs-shares-surge-2 | Davit Kirakosyan | Financial Modeling Prep |
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Airbnb Sees Compelling Entry Point for Airbnb | 2023-08-29 07:40:00 | <p>Bernstein analysts reiterated their Outperform rating and set a price target of $168.00 for <a href='https://financialmodelingprep.com/financial-summary/ABNB'>Airbnb (NASDAQ:ABNB)</a> and noted that despite a relatively consistent performance aligned with expectations, improved guidance for average daily rates (ADRs) and margins, and the discrediting of several negative arguments during the quarter, Airbnb's stock has experienced a 15% decline since the beginning of August and a 10% drop since Q2 results. Q2 EPS of $0.98 and revenues of $2.5 billion came in better than the consensus estimates.</p>
<p>The analysts maintained their positive long-term outlook and see the current situation as an attractive opportunity, thus reaffirming the Outperform rating.</p>
| NASDAQ:ABNB | https://financialmodelingprep.com/market-news/fmp-airbnb-sees-compelling-entry-point-for-airbnb- | Davit Kirakosyan | Financial Modeling Prep |
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3M stock surges 4% on reported $5.5 billion earplugs lawsuits settlement | 2023-08-28 12:02:00 | <p><a href='https://financialmodelingprep.com/financial-summary/MMM'>3M (NYSE:MMM)</a> shares gained more than 4% intra-day today following reports that the company reached an agreement to pay over $5.5 billion to resolve more than 300,000 lawsuits that allege its combat earplugs, sold to the U.S. military, were faulty. While the official announcement is awaited, BofA analysts suggest that this settlement would significantly benefit 3M, falling at the lower end of estimated values based on initial reports. Earlier projections, such as those from Barclays, anticipated a settlement cost of at least $8 billion for 3M.</p>
<p>According to the analysts, the proposed settlement of $5.5 billion is notably less than the range of $10-15 billion suggested by experts quoted in the Wall Street Journal. However, they noted that investor expectations were in the $5-7 billion range, making this settlement align with the lower end of those expectations. </p>
| NYSE:MMM | https://financialmodelingprep.com/market-news/fmp-3m-stock-surges-4-on-reported-$55-billion-earplugs-lawsuits-settlement | Davit Kirakosyan | Financial Modeling Prep |
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Microsoft is well-positioned to become the central ‘operating system for AI’ | 2023-08-28 12:00:00 | <p>The cloud industry is still in its early stages of growth, and according to Oppenheimer analysts, the adoption of artificial intelligence (AI) will play a crucial role in expanding the total addressable market (TAM). In this context, <a href='https://financialmodelingprep.com/financial-summary/MSFT'>Microsoft (NASDAQ:MSFT)</a> is poised to benefit significantly, potentially becoming the central "operating system for AI."</p>
<p>Oppenheimer’s assessment is based on several factors. Firstly, Microsoft's approach of maintaining a neutral operating system model that supports both proprietary and open source Large Language Models (LLMs) and various other applications positions it favorably. Secondly, the company's strategy involves broadening its ecosystem to effectively commercialize AI advancements on top of its Azure platform, including collaborations with entities like Meta, Databricks, and Snowflake. Lastly, Microsoft's extensive scale enables it to introduce AI applications such as Office 365 Copilot to a vast user base, given its reach of 1.0 billion Windows users and 330 million Teams users.</p>
| NASDAQ:MSFT | https://financialmodelingprep.com/market-news/fmp-microsoft-is-well-positioned-to-become-the-central-‘operating-system-for-ai’ | Davit Kirakosyan | Financial Modeling Prep |
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Tetra Tech Started With Outperform at RBC Capital | 2023-08-28 11:57:00 | <p>RBC Capital analysts started coverage of <a href='https://financialmodelingprep.com/financial-summary/TTEK'>Tetra Tech (NASDAQ:TTEK)</a> with an Outperform rating and a price target of $181.00.</p>
<p>The analysts noted that Tetra Tech is a specialized engineering company that provides investors with a distinctive avenue for exposure to sustainability-focused markets. The company's track record of robust growth and its substantial presence within the United States are seen as advantageous, particularly within the ongoing infrastructure investment cycle. </p>
<p>The analysts highlighted that approximately 55% of Tetra Tech's revenue is derived from the highly appealing Water sector, a factor contributing significantly to its valuation.</p>
| NASDAQ:TTEK | https://financialmodelingprep.com/market-news/fmp-tetra-tech-started-with-outperform-at-rbc-capital | Davit Kirakosyan | Financial Modeling Prep |
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Jabil to Sell its China Mobility Business to BYD, Shares Jump 8% | 2023-08-28 11:55:00 | <p>BYD Electronic, a subsidiary of electric vehicle manufacturer BYD, entered into an acquisition arrangement with Jabil Circuit to purchase full ownership of Juno Newco Target Holdco Singapore. This entity was recently established and is owned by Jabil Circuit (Singapore), a subsidiary of <a href='https://financialmodelingprep.com/financial-summary/JBL'>Jabil (NYSE:JBL)</a>. The acquisition is valued at 15.8 billion yuan, which is roughly $2.2 billion. Following this news, shares of Jabil jumped more than 8% intra-day today.</p>
<p>Juno Newco Target Holdco Singapore will primarily possess specific product manufacturing operations in Chengdu and Wuxi. These operations encompass the production of components for existing customers. The transition will occur following a reorganization process conducted by BYD Electronic.</p>
| NYSE:JBL | https://financialmodelingprep.com/market-news/fmp-jabil-to-sell-its-china-mobility-business-to-byd-shares-jump-8 | Davit Kirakosyan | Financial Modeling Prep |
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CrowdStrike Slashed to Equal Weight Ahead of Upcoming Q2 Earnings | 2023-08-28 09:28:00 | <p>Morgan Stanley downgraded <a href='https://financialmodelingprep.com/financial-summary/CRWD'>CrowdStrike (NASDAQ:CRWD)</a> from an Overweight to an Equal Weight rating and revised the price target by $11 to $167 per share. The analysts are cautious regarding the company's performance leading up to its upcoming Q2 earnings announcement, scheduled on Wednesday. </p>
<p>The analysts pointed out that the consensus estimates for a rebound in the second half of the calendar year 2024 seem optimistic given the challenging demand environment.</p>
<p>The analysts stated that CrowdStrike might need to revise its Annual Recurring Revenue (ARR) guidance again. They also highlighted that the risk-reward balance has become more equitable following the stock's year-to-date increase of over 45%.</p>
<p>The analysts’ cautious outlook stems from recent assessments and data gathered in the past month. This includes observations of further deceleration in crucial industry sectors, potential obstacles in cloud adoption, and limited potential for improvement in Free Cash Flow (FCF) margins.</p>
| NASDAQ:CRWD | https://financialmodelingprep.com/market-news/fmp-crowdstrike-slashed-to-equal-weight-ahead-of-upcoming-q2-earnings- | Davit Kirakosyan | Financial Modeling Prep |
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Church & Dwight Upgraded at Truist Securities | 2023-08-28 09:25:00 | <p>Analysts from Truist Securities upgraded <a href='https://financialmodelingprep.com/financial-summary/CHD'>Church & Dwight (NYSE: CHD)</a> from a Hold to a Buy rating, while also adjusting the price target from $95.00 to $105.00.</p>
<p>The analysts’ rationale for the upgrade is based on the company's performance outlook. Around a year ago, when the analysts downgraded the stock, concerns arose due to the uneven trends experienced in the first half of 2022. The worry was that the impact of the pandemic on certain key categories, such as vitamins and cat litter, which had seen a surge in demand due to temporary shifts in consumer behavior, would continue to affect the company's results. This was expected to result in volatility in the company's quarterly performance. </p>
<p>Additionally, there were reservations about the company's diversification strategy through acquisitions, particularly in areas like acne pads and facial hair removal products.</p>
| NYSE:, CHD | https://financialmodelingprep.com/market-news/fmp-church-&-dwight-upgraded-at-truist-securities- | Davit Kirakosyan | Financial Modeling Prep |
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Nordstrom Shares Plunge 11% on Revenue Miss & Record Level of Theft | 2023-08-25 12:36:00 | <p><a href='https://financialmodelingprep.com/financial-summary/JWN'>Nordstrom (NYSE:JWN)</a> shares dropped more than 11% intra-day today after the company announced its Q2 results, with revenue of $3.62 billion, lower than the Street estimate of $3.68 billion. Earnings per share (EPS) was $0.81, surpassing the analyst estimate of $0.45.</p>
<p>The company expressed worries regarding credit card payment delays and inventory loss due to theft, a concern echoed by numerous other retailers.</p>
<p>In terms of guidance, Nordstrom reconfirmed its revenue and adjusted earnings outlook for the full year. For fiscal year 2024, the company projects an EPS range of $1.80 to $2.20, in contrast to the Street estimate of $1.99.</p>
| NYSE:JWN | https://financialmodelingprep.com/market-news/fmp-nordstrom-shares-plunge-11-on-revenue-miss-&-record-level-of-theft | Davit Kirakosyan | Financial Modeling Prep |
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Peloton Interactive Receives a Downgrade by BofA Following Weak Q4 Results | 2023-08-25 12:33:00 | <p>BofA Securities analysts revised their rating on <a href='https://financialmodelingprep.com/financial-summary/PTON'>Peloton Interactive (NASDAQ:PTON)</a> from Buy to Neutral and set a new price target of $6.50, down from the previous target of $13.00. This was followed by the company’s reported Q4 EPS miss and weaker-than-expected guidance.</p>
<p>The analysts explain the downgrade by pointing out the limited visibility on growth initiatives. Despite recognizing the value in the company's subscriber base, with a potential gross profit per subscriber of $1,350 and an overall value of around $4 billion, there are concerns about the certainty of future subscriber growth drivers. The analysts anticipate that elements such as app users, Fitness-as-a-Service (FaaS) expansion, partnerships, and international marketing could contribute to gross additions, but a rise in churn rates might hinder net subscriber growth.</p>
| NASDAQ:PTON | https://financialmodelingprep.com/market-news/fmp-peloton-interactive-receives-a-downgrade-by-bofa-following-weak-q4-results | Davit Kirakosyan | Financial Modeling Prep |
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Workday Reports Better Than Expected Q2 Results | 2023-08-25 12:31:00 | <p><a href='https://financialmodelingprep.com/financial-summary/WDAY'>Workday (NASDAQ:WDAY)</a> reported Q2 EPS of $1.43, which surpassed the Street estimate of $1.26. Additionally, revenue experienced a 16.3% year-over-year growth, reaching $1.79 billion, which outperformed the Street estimate of $1.77 billion.</p>
<p>Subscription revenues displayed an 18.8% year-over-year rise, amounting to $1.62 billion. The company's 24-month subscription revenue backlog stood at $10.27 billion, reflecting a robust 22.7% year-over-year growth.</p>
<p>For Q3/24, Workday anticipates total revenue within the range of $1.843 billion to $1.845 billion. This projection compares to the Street estimate of $1.84 billion. The expected subscription revenue for the quarter is set to fall between $1.678 billion and $1.68 billion.</p>
<p>Concerning the full year, Workday expects total revenue to range from $7.20 billion to $7.240 billion, roughly aligning with the Street estimate of $7.21 billion. Additionally, the company anticipates subscription revenue to be in the range of $6.57 billion to $6.59.</p>
| NASDAQ:WDAY | https://financialmodelingprep.com/market-news/fmp-workday-reports-better-than-expected-q2-results | Davit Kirakosyan | Financial Modeling Prep |
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Netflix’s Upgraded, Price Target Raised to $500 | 2023-08-25 12:29:00 | <p>Loop Capital raised its rating on <a href='https://financialmodelingprep.com/financial-summary/NFLX'>Netflix (NASDAQ:NFLX)</a> stock from Hold to Buy and increased the price target by $75 to $500 per share.</p>
<p>Previously, Loop analysts were confident in Netflix's fundamentals but had concerns about its valuation, leading to a cautious stance. However, they have now made this upgrade after the stock experienced a 15% decline from recent highs.</p>
<p>The analysts noted that Netflix's fundamentals are improving. The competition in the streaming market is raising prices and cutting back on content spending, which is expected to enhance Netflix's competitive position. The analysts also highlighted Netflix's advantage in terms of a larger pipeline of unreleased content and global production capabilities.</p>
<p>Despite facing increased competition, Netflix has managed to retain its share of streaming engagement. The analysts anticipate that as the streaming industry consolidates, Netflix's market share will continue to grow.</p>
| NASDAQ:NFLX | https://financialmodelingprep.com/market-news/fmp-netflix’s-upgraded-price-target-raised-to-$500 | Davit Kirakosyan | Financial Modeling Prep |
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Marvell's selloff continues even after Q2 beat | 2023-08-25 08:59:00 | <p><a href='https://financialmodelingprep.com/financial-summary/MRVL'>Marvell Technology (NASDAQ:MRVL)</a> saw a decrease of over 4% in pre-market today, despite the company outperforming Q2 earnings expectations. This decline follows a nearly 7% drop in the stock's price on Thursday.</p>
<p>During the second quarter, the company reported an EPS of $0.33, surpassing the anticipated $0.32. However, there was a 12% year-over-year decline in revenue, amounting to $1.34 billion, slightly higher than the Street estimate of $1.33 billion.</p>
<p>CEO Matt Murphy noted that Marvell had exceeded the midpoint of its guidance for second-quarter fiscal 2024 revenue. He also mentioned that the company is anticipating an acceleration in sequential revenue growth for the upcoming third quarter, driven primarily by advancements in AI and cloud infrastructure.</p>
<p>For the third quarter of fiscal year 2024, Marvell Technology expects an EPS of $0.40 at the midpoint, aligning with expectations. The projected revenue at the midpoint is $1.4 billion, in comparison to the Street estimate of $1.39 billion.</p>
| NASDAQ:MRVL | https://financialmodelingprep.com/market-news/fmp-marvells-selloff-continues-even-after-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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Ulta Beauty Reports Q2 Beat, Shares Rise Slightly | 2023-08-25 08:54:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ULTA'>Ulta Beauty (NASDAQ:ULTA)</a> stock rose more than 1% pre-market today following the company’s better-than-expected Q2 performance.</p>
<p>The company disclosed Q2 earnings per share of $6.02 on revenue of $2.53 billion. This surpassed analysts' projections of earnings per share at $5.83 on revenue of $2.50 billion. </p>
<p>According to CEO Dave Kimbell, the consistent growth in the beauty category reflects consumers maintaining their post-pandemic routines and broadening their interpretation of beauty.</p>
<p>Ulta Beauty's projections for the entire year forecast a profit ranging from $25.10 to $25.60 per share and revenue ranging from $11.05 billion to $11.15 billion, both of which are higher than their initial estimates. The company also anticipates a 4.5% to 5.5% increase in comparable sales throughout the year.</p>
| NASDAQ:ULTA | https://financialmodelingprep.com/market-news/fmp-ulta-beauty-reports-q2-beat-shares-rise-slightly- | Davit Kirakosyan | Financial Modeling Prep |
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Autodesk Shares Gain 2% Following Q2 Earnings Report | 2023-08-24 13:06:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ADSK'>Autodesk (NASDAQ:ADSK)</a> witnessed a rise of over 3% in its share price intra-day today subsequent to the announcement of its Q2 results.</p>
<p>The company's earnings per share (EPS) amounted to $1.91, surpassing the Street estimate of $1.73. Revenue demonstrated a year-over-year growth of 9%, reaching $1.35 billion, which exceeded the anticipated consensus of $1.32 billion.</p>
<p>However, billings experienced an 8% decline, totaling $1.095 billion. Current remaining performance obligations reached $3.5 billion, indicating a substantial year-over-year growth of 12%.</p>
<p>For the third quarter of 2024, Autodesk anticipates that EPS will fall within the range of $1.97 to $2.03, which compares favorably to the Street estimate of $1.92. Additionally, the company foresees revenue in the range of $1.38 billion to $1.395 billion, compared to the Street estimate of $1.38 billion.</p>
<p>Turning to the entire fiscal year, Autodesk expects EPS to range from $7.30 to $7.49, exceeding the Street estimate of $7.28. Furthermore, the company projects its revenue for the full year to be between $5.405 billion and $5.455 billion, compared to the Street estimate of $5.41 billion.</p>
| NASDAQ:ADSK | https://financialmodelingprep.com/market-news/fmp-autodesk-shares-gain-2-following-q2-earnings-report | Davit Kirakosyan | Financial Modeling Prep |
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NetApp Posts Better Than Expected Q1 Results | 2023-08-24 13:03:00 | <p><a href='https://financialmodelingprep.com/financial-summary/NTAP'>NetApp (NASDAQ:NTAP)</a> released its Q1 results that exceeded expectations. The company achieved an earnings per share (EPS) of $1.15, surpassing the Street estimate of $1.07. The revenue experienced a year-over-year decline of 10%, amounting to $1.43 billion, which still managed to exceed the Street estimate of $1.41 billion. Billings also showed a decrease, reaching $1.30 billion, reflecting a year-over-year drop of 17%.</p>
<p>For the upcoming second quarter of 2024, NetApp projects an EPS range between $1.35 and $1.45, which compares to the Street estimate of $1.38. Additionally, the company anticipates revenue to fall within the range of $1.455 billion to $1.605 billion, compared to the Street estimate of $1.51 billion.</p>
<p>Looking at the full fiscal year, NetApp expects its EPS to range from $5.65 to $5.85, compared to the Street estimate of $5.70.</p>
| NASDAQ:NTAP | https://financialmodelingprep.com/market-news/fmp-netapp-posts-better-than-expected-q1-results | Davit Kirakosyan | Financial Modeling Prep |
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Splunk stock jumps 13% on Strong Q2 Beat | 2023-08-24 13:01:00 | <p>Shares of <a href='https://financialmodelingprep.com/financial-summary/SPLK'>Splunk (NASDAQ:SPLK)</a> surged more than 13% intra-day today following the company’s impressive Q2 performance, surpassing revenue and profit expectations.</p>
<p>During the quarter, the company reported adjusted earnings per share of 71 cents, accompanied by revenue amounting to $910.59 million. This exceeded analysts' projections, who had anticipated adjusted earnings of 46 cents per share on revenue totaling $889.29 million.</p>
<p>Looking ahead, Splunk anticipates third-quarter revenue to be within the range of $1.020 billion to $1.035 billion. For the full year, the company expects revenue to range from $3.925 billion to $3.950 billion.</p>
| NASDAQ:SPLK | https://financialmodelingprep.com/market-news/fmp-splunk-stock-jumps-13-on-strong-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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Amazon’s Price Target Raised at Piper Sandler | 2023-08-24 12:59:00 | <p>Piper Sandler increased the price target on <a href='https://financialmodelingprep.com/financial-summary/AMZN'>Amazon.com (NASDAQ:AMZN)</a> from $175.00 to $185.00, while reiterating an Overweight rating. </p>
<p>The analysts suggest that a reevaluation of comments made during the Q2 earnings call indicates that Amazon may have achieved higher levels of efficiency in Shipping & Fulfillment costs. This is evidenced by improvements in gross margins, and the guidance for incremental Operating Income in Q3/23 is noted as the strongest in the company's history. </p>
<p>The analysts see this as a favorable time to invest in Amazon, given the positive changes in margins and the anticipated upturn in growth for Amazon Web Services (AWS).</p>
| NASDAQ:AMZN | https://financialmodelingprep.com/market-news/fmp-amazon’s-price-target-raised-at-piper-sandler | Davit Kirakosyan | Financial Modeling Prep |
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Dollar Tree Drops 7% on EPS Guidance Miss | 2023-08-24 08:52:00 | <p><a href='https://financialmodelingprep.com/financial-summary/DLTR'>Dollar Tree (NYSE:DLTR)</a> stock experienced a 7% decrease in pre-market today, as the company revealed lower-than-anticipated profits for the third quarter. The company's projected earnings per share (EPS) for the third quarter, ranging from $0.94 to $1.04, fell short of the Street estimate of $1.28. The estimated net sales for this period are anticipated to be between $7.3 billion and $7.5 billion, compared to the Street estimate of $7.3 billion.</p>
<p>In terms of full-year expectations, Dollar Tree foresees the EPS to be in the range of $5.78 to $6.08. However, the midpoint of this range falls below the Street estimate of $6.03. The company's revenue is predicted to be within the range of $30.6 billion to $30.9 billion for the fiscal year, surpassing the expected $30.4 billion.</p>
<p>In the second quarter, the company reported adjusted EPS of 91 cents along with revenue amounting to $7.32 billion. This performance exceeded analysts' predictions, as they were anticipating earnings of 87 cents per share on revenue totaling $7.18 billion.</p>
| NYSE:DLTR | https://financialmodelingprep.com/market-news/fmp-dollar-tree-drops-7-on-eps-guidance-miss | Davit Kirakosyan | Financial Modeling Prep |
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Snowflake Gains on Q2 Beat | 2023-08-24 08:44:00 | <p><a href='https://financialmodelingprep.com/financial-summary/SNOW'>Snowflake (NYSE:SNOW)</a> shares saw a rise of more than 2% in pre-market today following the release of the company's second-quarter financial results.</p>
<p>The earnings per share (EPS) stood at $0.22, surpassing the Street estimate of $0.10. Notably, the company's revenue exhibited a 36% year-over-year increase, reaching $674 million, which exceeded the projected consensus of $662.22 million. Specifically, product revenue amounted to $640.2 million, marking a substantial 37% year-over-year growth. </p>
<p>Looking ahead to the third quarter of 2024, Snowflake anticipates that product revenue will fall within the range of $670 million to $675 million, signifying a year-over-year increase of 28% to 29%.</p>
<p>In terms of the entire fiscal year, the company projects its product revenue to reach $2.6 billion, reflecting a robust year-over-year growth rate of 34%.</p>
| NYSE:SNOW | https://financialmodelingprep.com/market-news/fmp-snowflake-gains-on-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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Bath & Body Works Reports Q2 Beat But Weak Outlook | 2023-08-23 09:34:00 | <p><a href='https://financialmodelingprep.com/financial-summary/BBWI'>Bath & Body Works (NYSE:BBWI)</a> released its second-quarter results, which surpassed expectations. However, a less favorable outlook for the company's performance than initially anticipated caused a slight decline in shares pre-market today.</p>
<p>The company's adjusted earnings per share (EPS) of 40 cents came in better than the Street estimate of 33 cents. While revenue experienced a 3.6% decrease year-over-year, amounting to $1.56 billion, this figure aligns with what analysts had predicted.</p>
<p>For the current quarter, BBWI's projected EPS to fall within the range of 30 cents to 40 cents, slightly below the Street estimate of 38 cents. The company anticipates a drop in net sales of 2.5%-4.0% year-over-year.</p>
<p>Regarding its outlook for the full 2024 year, Bath & Body Works predicts an adjusted EPS between $2.80 and $3.10, compared to the consensus projection of $3.10. The company expects a decline in net sales of 1.5% to 3.5% year-over-year.</p>
| NYSE:BBWI | https://financialmodelingprep.com/market-news/fmp-bath-&-body-works-reports-q2-beat-but-weak-outlook | Davit Kirakosyan | Financial Modeling Prep |
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Netflix Positioned to Accelerate its Average Revenue Per Membership | 2023-08-23 09:28:00 | <p>Oppenheimer said that <a href='https://financialmodelingprep.com/financial-summary/NFLX'>Netflix (NASDAQ:NFLX)</a> has a clearly defined pathway for accelerating its average revenue per membership (ARM), with reduced risks in its bear-case scenario.</p>
<p>The analysts, who maintain an Outperform rating on the stock along with a price target of $515, indicated that the firm anticipates a positive impact resulting from Netflix's introduction of a paid sharing and advertising tier through the fiscal year 2025. According to the analysts, these measures will boost revenues by approximately 40% compared to fiscal 2022, with strong incremental margins. </p>
<p>The analysts added that Netflix is well-positioned to recover roughly 50% of account-sharing households. Their estimates imply Netflix could directly regain 46% of the estimated 100 million account-sharing households by the end of 2025.</p>
| NASDAQ:NFLX | https://financialmodelingprep.com/market-news/fmp-netflix-positioned-to-accelerate-its-average-revenue-per-membership | Davit Kirakosyan | Financial Modeling Prep |
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Baidu Stock Gains 4% on Q2 Beat | 2023-08-22 11:36:00 | <p><a href='https://financialmodelingprep.com/financial-summary/BIDU'>Baidu (NASDAQ:BIDU)</a> shares gained over 4% intra-day today following the release of its financial results for the second quarter. Revenue for the quarter came in at $4.697 billion, exceeding the Street estimate of $4.57 billion.</p>
<p>EPS reached $3.11, marking a substantial 43% surge from the previous year. This figure significantly outpaced the Street estimate of $2.32.</p>
<p>Robin Li, CEO of Baidu, emphasized that in the second quarter, Baidu Core experienced accelerated growth in both revenue and profits. This success was driven by the strong performance of the online marketing business and the benefits of operating leverage. Li also highlighted the significant potential of generative AI and large language models to transform various industries, thereby presenting substantial market opportunities for Baidu.</p>
| NASDAQ:BIDU | https://financialmodelingprep.com/market-news/fmp-baidu-stock-gains-4-on-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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Nordson Posts Q3 Revenue Miss, Guidance Narrowed | 2023-08-22 11:33:00 | <p><a href='https://financialmodelingprep.com/financial-summary/NDSN'>Nordson (NASDAQ:NDSN)</a> reported its Q3 results yesterday, with revenue for the quarter coming in at $649 million, representing a 2% decline compared to the previous year, which fell short of the Street estimate of $664.94 million. The earnings per share (EPS) for the quarter stood at $2.35, slightly above the consensus estimate of $2.32.</p>
<p>CEO Sundaram Nagarajan acknowledged the fiscal third quarter's challenging environment, marked by persistent demand weakness in the electronics and biopharma end markets. Despite these challenges, the company managed to achieve strong profitability of 32% EBITDA and maintained solid cash flow. </p>
<p>Nordson revised its previously issued revenue growth guidance for the fiscal year 2023, narrowing it to a range of 0% to 2% compared to the previous record fiscal year 2022. Additionally, the company's adjusted EPS guidance for the full year is expected to fall within the range of $8.90 to $9.05.</p>
| NASDAQ:NDSN | https://financialmodelingprep.com/market-news/fmp-nordson-posts-q3-revenue-miss-guidance-narrowed | Davit Kirakosyan | Financial Modeling Prep |
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Zoom Reports Better Than Expected Q2 Earnings | 2023-08-22 11:30:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ZM'>Zoom (NASDAQ:ZM)</a> released its Q2 financial results yesterday. The company's earnings per share (EPS) for the quarter amounted to $1.34, surpassing the Street estimate of $1.06.</p>
<p>Zoom's revenue experienced year-over-year growth of 3.6% (or 4.5% on a constant currency basis), reaching $1.14 billion, which exceeded the Street estimate of $1.11 billion. Within this, Enterprise revenue saw a 10.2% increase year-over-year, reaching $659.5 million. However, Online revenue experienced a 4.3% decrease, totaling $479.2 million.</p>
<p>Looking ahead to the third quarter of fiscal year 2024, Zoom projects an EPS falling within the range of $1.07 to $1.09, surpassing the Street estimate of $1.03. Additionally, the company anticipates revenue in the range of $1.115 billion to $1.12 billion, slightly below the consensus of $1.13 billion.</p>
<p>For the full year, Zoom forecasts an EPS within the range of $4.63 to $4.67, surpassing the Street estimate of $4.30. Revenue for the full year is projected to fall within the range of $4.485 billion to $4.495 billion, compared to the Street estimate of $4.48 billion.</p>
| NASDAQ:ZM | https://financialmodelingprep.com/market-news/fmp-zoom-reports-better-than-expected-q2-earnings | Davit Kirakosyan | Financial Modeling Prep |
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Edison International Upgraded to Buy at Mizuho Securities | 2023-08-22 11:28:00 | <p>Mizuho Securities upgraded <a href='https://financialmodelingprep.com/financial-summary/EIX'>Edison International (NYSE:EIX)</a> to Buy from Neutral and raised its price target on the stock to $75.00 from $73.00.</p>
<p>The analysts believe that investors are not fully appreciating Edison International's earnings potential, pointing out the company's delivery of its forecasted 5-7% EPS compound annual growth rate (CAGR).</p>
<p>Edison International's management extended its commitment to this growth rate until 2028, regardless of the company's efforts to recover costs related to the 2017/2018 wildfires. </p>
<p>The analysts adjusted their estimates upward and expressed confidence in the company's ability to meet its growth target, especially as the region pushes for electrification. The upgrade to Buy reflects the belief that investors are overlooking potential improvements in earnings and Price-to-Earnings (P/E) multiple. </p>
| NYSE:EIX | https://financialmodelingprep.com/market-news/fmp-edison-international-upgraded-to-buy-at-mizuho-securities- | Davit Kirakosyan | Financial Modeling Prep |
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Fabrinet Shares Surge 19% on Strong Q4 Beat | 2023-08-22 09:04:00 | <p><a href='https://financialmodelingprep.com/financial-summary/FN'>Fabrinet (NYSE:FN)</a> shares jumped more than 19% pre-market today, driven by the release of its Q4 financial results. The company reported earnings per share (EPS) of $1.86, surpassing the Street estimate of $1.80. The company's revenue for the quarter amounted to $655.9 million, exceeding the Street estimate of $641.43 million.</p>
<p>Fabrinet's CEO, Seamus Grady, noted that the quarter saw robust growth in Datacom revenue, primarily attributed to the introduction of new AI products. This growth managed to counteract the challenges arising from inventory adjustments among certain customers.</p>
<p>Looking ahead to the first quarter of fiscal 2024, Grady expressed optimism about the potential of new datacom programs to continue mitigating the impact of inventory absorption challenges in the industry. </p>
<p>Fabrinet anticipates revenue for Q1/24 to fall within the range of $650 million to $670 million. In terms of non-GAAP diluted EPS, the company's projection lies within the range of $1.83 to $1.90.</p>
| NYSE:FN | https://financialmodelingprep.com/market-news/fmp-fabrinet-shares-surge-19-on-strong-q4-beat | Davit Kirakosyan | Financial Modeling Prep |
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PAR Technology Earns an Upgrade at Craig-Hallum | 2023-08-22 09:02:00 | <p>Craig-Hallum analysts increased their target price for <a href='https://financialmodelingprep.com/financial-summary/PAR'>PAR Technology (NYSE:PAR)</a> to $50.00 from $42.00 while reiterating their Buy rating on the stock. They mentioned that a period of consistent success could lead to significant growth in revenue.</p>
<p>The analysts explained that during the first half of 2023, the company focused on investing in and expanding new opportunities, particularly in Payments, MENU, and its Table Service Offering. As investors shifted their attention towards profitable expansion rather than indiscriminate growth, analysts believe that the noteworthy streak of accomplishments in Operator Solutions by PAR deserves recognition. </p>
<p>The revenue per store for Operator Solutions (comprising Brink and Payments) has displayed three consecutive quarters of accelerating growth, and this trajectory is anticipated to continue. The acceleration is primarily driven by the increasing adoption of Payments and targeted price hikes aimed at customers who received favorable terms for early adoption. </p>
<p>The analysts concluded that this favorable trend is expected to lead to substantial double-digit growth in Average Revenue Per User (ARPU) for several upcoming quarters.</p>
| NYSE:PAR | https://financialmodelingprep.com/market-news/fmp-par-technology-earns-an-upgrade-at-craig-hallum | Davit Kirakosyan | Financial Modeling Prep |
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Palo Alto Networks Stock Surges 16% Following Q4 Earnings | 2023-08-21 12:35:00 | <p><a href='https://financialmodelingprep.com/financial-summary/PANW'>Palo Alto Networks (NASDAQ:PANW)</a> shares jumped more than 16% intra-day today following the company’s released fourth-quarter results. </p>
<p>Palo Alto Networks reported earnings of $1.44 per share on revenue of $1.95 billion, contrasting with Wall Street estimates of $1.29 per share and $1.96 billion in revenue, respectively. The beat in earnings was primarily driven by a notable 18% increase in year-over-year billings growth during Q4. </p>
<p>The company expects adjusted earnings in the fiscal first quarter to fall within the range of $1.15 to $1.17 per share, surpassing Street projections of $1.12. The revenue projection for the quarter was set at $2.05 billion to $2.08 billion, compared to the Street estimate of $1.93 billion.</p>
<p>Furthermore, the company raised its guidance for the entire year across key metrics like revenue, billings, and earnings per share. For the fiscal year 2023, Palo Alto Networks foresees adjusted earnings ranging from $5.27 to $5.40 per share, with revenue expected to be between $10.9 billion and $11 billion.</p>
| NASDAQ:PANW | https://financialmodelingprep.com/market-news/fmp-palo-alto-networks-stock-surges-16-following-q4-earnings | Davit Kirakosyan | Financial Modeling Prep |
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XPeng Reports Q2 Earnings, Margins Miss | 2023-08-21 12:33:00 | <p><a href='https://financialmodelingprep.com/financial-summary/XPEV'>XPeng (NYSE:XPEV)</a> released its second-quarter results on Friday, which revealed gross margins below expectations.</p>
<p>In Q2, XPeng's revenue amounted to 5.06 billion yuan, aligning with analyst predictions. However, the loss per share was 3.10 yuan, worse than the anticipated loss of 2.19 yuan per share. The company's gross margin was -3.9%, in stark contrast to the projected 4.8% gross margin.</p>
<p>Looking ahead to Q3/23, XPeng anticipates delivering 39,000 to 41,000 electric vehicle units, marking a year-on-year growth of approximately 31.9% to 38.7%.</p>
<p>Management anticipates total revenue for the quarter to fall within the range of 8.5 billion to 9.0 billion yuan, representing a year-on-year increase of around 24.6% to 31.9%.</p>
| NYSE:XPEV | https://financialmodelingprep.com/market-news/fmp-xpeng-reports-q2-earnings-margins-miss | Davit Kirakosyan | Financial Modeling Prep |
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AppFolio upgraded to Overweight, Shares Jump 11% | 2023-08-21 12:29:00 | <p>Analysts at Stephens upgraded <a href='https://financialmodelingprep.com/financial-summary/APPF'>AppFolio (NASDAQ:APPF)</a> from Equal Weight to Overweight and increased the price target from $184.00 to $212.00. As a result, shares surged more than 11% intra-day today. </p>
<p>The upgrade is based on the company's recent leadership changes and strategic moves aimed at improving profit margins. The analysts noted that the focus on profitability has been a missing piece in the AppFolio story, and they expect these changes to lead to a shift toward profitable growth. </p>
<p>The analysts predict that AppFolio has the potential to exceed expectations and raise the outlook for 2023, which could result in higher consensus estimates for this year and the next. Looking further ahead, the analysts see a positive trajectory for the company with above-average revenue growth compared to peers and a substantial expansion in profit margins, potentially reaching +680 basis points in 2024. </p>
| NASDAQ:APPF | https://financialmodelingprep.com/market-news/fmp-appfolio-upgraded-to-overweight-shares-jump-11 | Davit Kirakosyan | Financial Modeling Prep |
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NVIDIA Price Target Raised at HSBC Ahead of Q2 Earnings | 2023-08-21 12:22:00 | <p>Analysts at HSBC raised the price target for <a href='https://financialmodelingprep.com/financial-summary/NVDA'>NVIDIA (NASDAQ:NVDA)</a> from $600.00 to $780.00 while maintaining a Buy rating ahead of the company’s Q2/24 earnings announcement on Wednesday. The analysts noted that despite already elevated market expectations, the strong momentum in AI server adoption is likely to continue to outperform predictions. </p>
<p>The analysts are revising the AI server estimates for 2024/2025 from 162,500/222,000 to 200,000/400,000, indicating their confidence in robust demand that is surpassing supply, particularly in AI GPU shipments. This favorable trend is expected to persist into fiscal 2025, with increased clarity on the 2024 estimated CAPEX expectations for US CSP cloud providers anticipated in late Q4/23.</p>
| NASDAQ:NVDA | https://financialmodelingprep.com/market-news/fmp-nvidia-price-target-raised-at-hsbc-ahead-of-q2-earnings- | Davit Kirakosyan | Financial Modeling Prep |
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Deere Drops 5% Despite Strong Q3 & Raised Guidance | 2023-08-21 08:38:00 | <p><a href='https://financialmodelingprep.com/financial-summary/DE'>Deere (NYSE:DE)</a> shares dropped more than 5% on Friday despite the upward adjustment of the company’s full-year guidance.</p>
<p>The company's new expectations for the full-year net income fall within the range of $9.75 billion to $10.00 billion, marking an increase from the previous projection that ranged between $9.25 billion and $9.50 billion.</p>
<p>Deere achieved an impressive Q3 earnings per share (EPS) of $10.20, surpassing the analyst prediction of $8.20. Furthermore, the company's quarterly revenue reached $15.8 billion, exceeding the Street estimate of $14.12 billion.</p>
<p>John May, the chairman and CEO, commented that Deere's robust performance in the third quarter is a reflection of favorable market conditions and ongoing enhancements in the operational landscape.</p>
| NYSE:DE | https://financialmodelingprep.com/market-news/fmp-deere-drops-5-despite-strong-q3-&-raised-guidance | Davit Kirakosyan | Financial Modeling Prep |
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Insulet Earns an Upgrade From Citi | 2023-08-21 08:36:00 | <p>Citi analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/PODD'>Insulet Corporation (NASDAQ:PODD)</a> from Neutral to Buy, lowering the price target from $273.00 to $265.00. The analysts noted the substantial drop in valuation as the reason for the upgrade. Despite previous concerns about valuation, tough year-over-year comparisons, and GLP-1 impact, the 37% stock decline from its peak and 29% YTD decrease prompted the upgrade. </p>
<p>The new price target is based on a valuation range of 9-10 times the 2024 estimated EV/Revenue. Insulet's pending FDA application for its iPhone app, integration plans for Dexcom's G7 and Abbott's L2, and the ongoing Omnipod 5 launch in the U.K. and upcoming launch in Germany were also highlighted.</p>
| NASDAQ:PODD | https://financialmodelingprep.com/market-news/fmp-insulet-earns-an-upgrade-from-citi | Davit Kirakosyan | Financial Modeling Prep |
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Keysight Technologies Shares Plummet 13% Following Q3 Results | 2023-08-18 13:20:00 | <p>Shares of <a href='https://financialmodelingprep.com/financial-summary/KEYS'>Keysight Technologies (NYSE:KEYS)</a> experienced a more than 13% decline intra-day today due to the company's provided guidance that came in worse than expected.</p>
<p>The earnings per share (EPS) for the third quarter were $2.19, surpassing the Street estimate of $2.04. The company's revenue for the quarter remained unchanged year-over-year, amounting to $1.38 billion, aligning with the Street predictions.</p>
<p>Looking ahead to the fourth quarter of 2023, Keysight Technologies anticipates revenue to fall within the range of $1.29 billion to $1.31 billion, falling short of the Street figure of $1.39 billion. The projected non-GAAP EPS for the same period is expected to be between $1.83 and $1.89, which is lower than the analysts' expectation of $1.99.</p>
<p>For the entire fiscal year, the company anticipates its revenue to reach $5.45 billion and its EPS to be $8.19. This compares to the Street estimates of $5.55 billion in revenue and an EPS of $8.18.</p>
| NYSE:KEYS | https://financialmodelingprep.com/market-news/fmp-keysight-technologies-shares-plummet-13-following-q3-results | Davit Kirakosyan | Financial Modeling Prep |
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Bill Holdings Surges 7% After Q4 Earnings Report | 2023-08-18 13:17:00 | <p><a href='https://financialmodelingprep.com/financial-summary/BILL'>Bill Holdings (NYSE:BILL)</a> shares gained more than 7% intra-day today after the company raised its projected earnings outlook while reducing its anticipated revenue figures, subsequent to fiscal fourth-quarter results that positively surprised market expectations.</p>
<p>The company disclosed adjusted earnings per share (EPS) of $0.59 and revenue of $296.0 million. This was better than the Wall Street estimates of an EPS of $0.41 on revenue amounting to $282.2 million.</p>
<p>Turning toward the first quarter, the guidance for adjusted EPS was provided within a range of $0.48 to $0.50, coupled with a revenue projection spanning from $295.5 million to $298.5 million.</p>
<p>In terms of the entire year 2023, the adjusted EPS was foreseen to fall in the range of $1.82 to $1.97, while the revenue was estimated to lie between $1.29 billion and $1.31 billion. </p>
| NYSE:BILL | https://financialmodelingprep.com/market-news/fmp-bill-holdings-surges-7-after-q4-earnings-report | Davit Kirakosyan | Financial Modeling Prep |
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Applied Materials Gains on Q3 Beat & Strong Guidance | 2023-08-18 13:12:00 | <p>Following fiscal third-quarter results that exceeded analyst predictions, <a href='https://financialmodelingprep.com/financial-summary/AMAT'>Applied Materials (NASDAQ:AMAT)</a> reported impressive earnings guidance, benefiting from the ongoing corporate competition to embrace the digital and AI era. This trend has stimulated chip demand and contributed to the company's growth. Shares gained more than 2% intra-day today.</p>
<p>The company posted adjusted earnings per share (EPS) of $1.90 and revenue of $6.43 billion. This outperformed the Street forecasts that anticipated an EPS of $1.74 on revenue amounting to $6.15 billion. The company's largest business segment, Semiconductor systems, experienced a slight decrease of 1.2%, generating $4.68 billion in revenue.</p>
<p>Applied Materials provided guidance for the fourth quarter, indicating an adjusted EPS within the range of $1.82 to $2.18. The company also projected net sales of approximately $6.51 billion, with a margin of error of around $400 million. Street estimates stood at $1.59 for EPS and $5.87 billion for net sales.</p>
| NASDAQ:AMAT | https://financialmodelingprep.com/market-news/fmp-applied-materials-gains-on-q3-beat-&-strong-guidance | Davit Kirakosyan | Financial Modeling Prep |
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Lumentum Upgraded to Buy at Rosenblatt | 2023-08-18 13:07:00 | <p>Rosenblatt upgraded <a href='https://financialmodelingprep.com/financial-summary/LITE'>Lumentum (NASDAQ:LITE)</a> from a Neutral rating to a Buy rating, setting a price target of $62.00.</p>
<p>Lumentum is the primary producer of laser chips for Datacom transceivers, a position they hold with even more market share than previously estimated. This extends to Coherent's transceivers as well, owing to customer preferences for multiple suppliers of essential components. </p>
<p>According to the analysts, the surge in demand for 800G Datacom transceivers, fueled by artificial intelligence (AI) applications, is substantial and expected to remain robust for several years. Notably, the company's Datacom revenues are anticipated to experience sequential growth moving forward. </p>
<p>Although the telecom sector is presently navigating a significant inventory correction during the second half of the calendar year 2023, a strong recovery is foreseen in the first half of the following year.</p>
| NASDAQ:LITE | https://financialmodelingprep.com/market-news/fmp-lumentum-upgraded-to-buy-at-rosenblatt- | Davit Kirakosyan | Financial Modeling Prep |
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Ross Stores Stock Gains 5% After Q2 Beat | 2023-08-18 09:05:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ROST'>Ross Stores (NASDAQ:ROST)</a> shares rose more than 5% pre-market today after the company’s announcement of a second-quarter performance that exceeded expectations, coupled with its guidance that surpasses consensus forecasts.</p>
<p>The retailer posted earnings of $1.32 per share, accompanied by revenue of $4.93 billion, reflecting a 7.7% increase compared to the same period last year. This performance exceeded the Street predictions, which had anticipated earnings of $1.16 per share on revenue amounting to $4.75 billion.</p>
<p>Looking ahead, Ross Stores anticipates EPS in the range of $1.16 to $1.21 for the third quarter. For the full year, the company sees EPS at $5.15-$5.26, above the Street estimate of $4.97.</p>
| NASDAQ:ROST | https://financialmodelingprep.com/market-news/fmp-ross-stores-stock-gains-5-after-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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Oppenheimer Raises Workday Price Target Ahead of Q2 Earnings Report | 2023-08-18 09:02:00 | <p>Oppenheimer increased its price target for <a href='https://financialmodelingprep.com/financial-summary/WDAY'>Workday (NASDAQ:WDAY)</a> to $255.00, up from the previous target of $240.00, and reiterated its Outperform rating for the company. The company is expected to report its Q2 earning on Aug 24.</p>
<p>According to analysts, although investor expectations for Workday's shares have risen following a significant increase in the company's valuation recently, they anticipate positive financial results for the second quarter. These results are expected to surpass the consensus subscription backlog estimate and show improved profit margins.</p>
<p>Oppenheimer's analysis highlighted strong deal activity, positive momentum, increasing engagement levels, and the defensibility of Workday's solutions. However, there might be a challenge in the growth of the backlog in the second quarter due to demanding year-over-year comparisons.</p>
<p>The firm believes that investors are underestimating the value of Workday's Generative AI positioning. This perception could change if the company provides more insight into AI opportunities at the upcoming Investor Day/Rising conference next month.</p>
| NASDAQ:WDAY | https://financialmodelingprep.com/market-news/fmp-oppenheimer-raises-workday-price-target-ahead-of-q2-earnings-report | Davit Kirakosyan | Financial Modeling Prep |
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BMO Capital Positive on Palo Alto Networks Ahead of Q4 Report | 2023-08-17 18:13:00 | <p>BMO Capital analysts restated their positive outlook on <a href='https://financialmodelingprep.com/financial-summary/PANW'>Palo Alto Networks (NASDAQ:PANW)</a>, maintaining an Outperform rating along with a target price of $235.00. In anticipation of the upcoming Q4 earnings call on Friday, the analysts shared additional insights. </p>
<p>Despite expecting the company's guidance for fiscal 2024 to fall below consensus estimates, the analysts consider this a moment of clarification rather than a factor that would alter the overall assessment. Notably, the analysts had recently adjusted their projections but aren't revising them further now. The analysts maintained confidence in a favorable risk-to-reward balance for the company's shares.</p> | NASDAQ:PANW | https://financialmodelingprep.com/market-news/fmp-bmo-capital-positive-on-palo-alto-networks-ahead-of-q4-report | Davit Kirakosyan | Financial Modeling Prep |
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ADP’s Price Target Raised at Mizuho Securities | 2023-08-17 17:58:00 | <p>Mizuho Securities' analysts lifted their price target for <a href='https://financialmodelingprep.com/financial-summary/ADP'>ADP (NASDAQ:ADP)</a> to $285.00 from the previous $255.00. Despite maintaining a Buy rating, the analysts highlighted ADP's progress in narrowing the gap in organic growth compared to disruptive peers in the Human Capital Management (HCM) sector. </p>
<p>While these disruptive players still outpace ADP in growth, the difference in their organic growth rates has reached its lowest point in years, indicating enhanced execution on ADP's part.</p>
<p>In terms of valuation, the analysts noted that ADP currently trades below its historical median price-to-earnings (P/E) ratio discount in comparison to similar companies in the business and information services field. However, analysts believe that ADP should command a smaller discount given its improved organic growth performance.</p>
| NASDAQ:ADP | https://financialmodelingprep.com/market-news/fmp-adp’s-price-target-raised-at-mizuho-securities- | Davit Kirakosyan | Financial Modeling Prep |
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Paycor HCM Stock Drops 4% After Q4 Results | 2023-08-17 17:45:00 | <p>Shares of <a href='https://financialmodelingprep.com/financial-summary/PYCR'>Paycor HCM (NASDAQ:PYCR)</a> experienced a more than 4% decline today due to the company's Q4 financial results announcement. Although the earnings surpassed expectations, the company's future guidance was lackluster.</p>
<p>The earnings per share (EPS) for the quarter were reported at $0.08, which exceeded the Street estimate of $0.05. Additionally, the revenue for the quarter reached $140 million, outperforming the Street estimate of $136.51 million.</p>
<p>However, the outlook for Q1/24 is less optimistic, with the company projecting revenue within the range of $138 million to $140 million, falling short of the Street forecast of $142.5 million. </p>
<p>Looking at the full year, Paycor HCM anticipates revenue to be in the range of $644 million to $650 million, compared to the Street estimate of $646.97 million. </p>
| NASDAQ:PYCR | https://financialmodelingprep.com/market-news/fmp-paycor-hcm-stock-drops-4-after-q4-results- | Davit Kirakosyan | Financial Modeling Prep |
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AppFolio Started With Overweight Rating at JPMorgan | 2023-08-17 17:41:00 | <p>JPMorgan initiated coverage on <a href='https://financialmodelingprep.com/financial-summary/APPF'>AppFolio (NASDAQ:APPF)</a> with an Overweight rating and a $200 per share price target. The firm suggests that the stock offers an attractive opportunity in the US residential real estate sector. </p>
<p>The company operates solely in the US and serves over 19,000 customers managing more than 7.7 million units on its platform. With a profitable track record, AppFolio's past three-year revenue growth has been driven by an increase in platform units and an expansion of Average Revenue Per User (ARPU).</p>
| NASDAQ:APPF | https://financialmodelingprep.com/market-news/fmp-appfolio-started-with-overweight-rating-at-jpmorgan- | Davit Kirakosyan | Financial Modeling Prep |
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Cisco Systems Shares Gain 2% Following Q4 Results | 2023-08-17 08:52:00 | <p><a href='https://financialmodelingprep.com/financial-summary/CSCO'>Cisco Systems (NASDAQ:CSCO)</a> fourth-quarter results exceeded the predictions of Wall Street, primarily driven by the increasing interest of businesses in artificial intelligence, security, and cloud solutions. As a result, shares rose more than 2% pre-market today.</p>
<p>The company's management highlighted gains in market share and potential within the field of AI during the earnings call. The company's reported earnings per share (EPS) amounted to $1.14, with a revenue of $15.2 billion. These figures surpassed the expectations of Wall Street, which had projected an EPS of $1.06 and revenue of $15.05 billion.</p>
<p>Cisco anticipates adjusted earnings in the range of $1.02 to $1.04 for the first quarter, accompanied by a revenue ranging from $14.5 billion to $14.7 billion. Street estimates stood at $0.99 for adjusted EPS and $14.6 billion for revenues.</p>
<p>As for the outlook for 2024, the company predicts an adjusted EPS ranging from $4.01 to $4.08, along with a revenue spanning from $57.0 billion to $58.2 billion. Wall Street analysts had anticipated an adjusted EPS of $4.04 and revenue of $58.4 billion.</p>
| NASDAQ:CSCO | https://financialmodelingprep.com/market-news/fmp-cisco-systems-shares-gain-2-following-q4-results | Davit Kirakosyan | Financial Modeling Prep |
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Walmart Reports Q2 Beat & Raises Guidance | 2023-08-17 08:50:00 | <p><a href='https://financialmodelingprep.com/financial-summary/WMT'>Walmart (NYSE:WMT)</a> has raised its annual forecast for adjusted earnings per share (EPS) and net sales. The world's largest retailer exceeded expectations by reporting better-than-expected second-quarter profits.</p>
<p>Walmart posted Q2 EPS of $1.84, above the Street estimate of $1.69. Revenue came in at $161.6 billion, beating the Street estimate of $159.76 billion.</p>
<p>The company anticipates a full-year adjusted EPS in the range of $6.36 to $6.46, a substantial increase from its previous projection of $6.10 to $6.20. This new figure outperformed the Street estimate of $6.28.</p>
<p>The company estimates growth of approximately 4% to 4.5% in net sales for Walmart's 2024 fiscal year. This forecast is an improvement from the company's previous outlook of around 3.5%.</p>
| NYSE:WMT | https://financialmodelingprep.com/market-news/fmp-walmart-reports-q2-beat-&-raises-guidance- | Davit Kirakosyan | Financial Modeling Prep |