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Target Stock Gains 3% Following Q2 Earnings | 2023-08-16 18:24:00 | <p><a href='https://financialmodelingprep.com/financial-summary/TGT'>Target (NYSE:TGT)</a> shares rose nearly 3% today following the release of its second-quarter results.</p>
<p>The adjusted earnings per share for the quarter were $1.80, significantly surpassing the anticipated $1.47. In the second quarter, Target's comparable sales faced a decline of 5.4%, which was worse than the anticipated 3.8% decrease. The company's revenue stood at $24.38 billion, marking a 4.9% reduction compared to the previous year and falling short of the expected $25.33 billion.</p>
<p>Gross margin demonstrated improvement, reaching 27%, surpassing the previous year's 21.5%, and exceeding the projected 25.6%. Looking ahead to the current quarter, the company projects an adjusted EPS within the range of $1.20 to $1.60. This falls below analysts' expectations of $1.84. For the fiscal year 2024, Target has revised its earlier EPS forecast from the $7.75-$8.75 range to $7.00-$8.00, compared to the Street estimate of $7.81.</p>
| NYSE:TGT | https://financialmodelingprep.com/market-news/fmp-target-stock-gains-3-following-q2-earnings | Davit Kirakosyan | Financial Modeling Prep |
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Nubank Reports Strong Q2 Results | 2023-08-16 18:19:00 | <p><a href='https://financialmodelingprep.com/financial-summary/NU'>Nubank (NYSE:NU)</a> reported a significant rebound in its financials for the second quarter, with a net income of $224.9 million. This represents a substantial improvement from the $29.9 million loss incurred in the corresponding period of the previous year. Analysts had projected a net income of $146.6 million.</p>
<p>The company's earnings per share (EPS) experienced a remarkable surge to 4.6 cents, compared to a loss of 0.64 cents in the previous year. Furthermore, Nubank's quarterly revenue reached $1.87 billion, exceeding the Street estimate of $1.78 billion.</p>
<p>Nubank also exhibited impressive growth in its total deposits, which amounted to $18 billion. This reflects a notable increase of 35% compared to the previous year and exceeded the projected amount of $17.21 billion.</p>
| NYSE:NU | https://financialmodelingprep.com/market-news/fmp-nubank-reports-strong-q2-results | Davit Kirakosyan | Financial Modeling Prep |
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NVIDIA’s Q2 Earnings Preview by Rosenblatt | 2023-08-16 18:17:00 | <p>Rosenblatt raised the price target for <a href='https://financialmodelingprep.com/financial-summary/NVDA'>NVIDIA (NASDAQ:NVDA)</a> to $800 per share from the previous $600. The analysts reiterated their Buy rating on the stock, highlighting the expectation of Q2 earnings beat on Aug 23.</p>
<p>However, the guidance is predicted to be influenced by significant limitations on H100 Hopper platforms. The analysts indicated that demand is likely to outstrip supply by a minimum of 50% in the coming quarters. Removing these limitations, the analysts projected that Nvidia's earnings for fiscal 2025 could substantially exceed their current estimate of $10.35, potentially reaching the high-teens.</p>
| NASDAQ:NVDA | https://financialmodelingprep.com/market-news/fmp-nvidia’s-q2-earnings-preview-by-rosenblatt | Davit Kirakosyan | Financial Modeling Prep |
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Inter & Co Earns an Upgrade at Citi | 2023-08-16 18:14:00 | <p>Citi has raised its rating for <a href='https://financialmodelingprep.com/financial-summary/INTR'>Inter & Co (NASDAQ:INTR)</a> from Neutral to Buy and revised its price target for the stock to $5.30, up from $2.00. This adjustment comes as the digital finance platform demonstrates its commitment to achieving a stronger Return on Equity (ROE) through the strategic repricing of its credit portfolio and effective expense management.</p>
<p>According to Citi analysts, the second quarter results of 2023 indicate promising progress in this direction. The potential for further enhancements in Net Interest Margin (NIM) arises from new initiatives and the impact of reduced interest rates. Additionally, there's a possibility of significant improvement in the cost-of-risk aspect due to heightened restrictions on credit card origination.</p>
| NASDAQ:INTR | https://financialmodelingprep.com/market-news/fmp-inter-&-co-earns-an-upgrade-at-citi | Davit Kirakosyan | Financial Modeling Prep |
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JD.com Stock Drops 5% Despite Q2 Beat | 2023-08-16 13:12:00 | <p><a href='https://financialmodelingprep.com/financial-summary/JD'>JD.com (NASDAQ:JD)</a> announced Q2 results that exceeded Street predictions. However, despite this positive performance, the company's shares experienced a decline of more than 5% intra-day today.</p>
<p>During the second quarter, JD.com achieved a net revenue of 287.93 billion yuan, showcasing a growth of 7.6% in comparison to the corresponding period of the previous year. This performance surpassed the Street estimate of 279.92 billion yuan.</p>
<p>The adjusted earnings per American depositary receipt (ADR) for JD.com were recorded at 5.39 yuan, marking an increase from the previous year's 4.06 yuan. This figure also surpassed the Street estimate of 4.92.</p>
<p>Furthermore, the adjusted operating margin demonstrated an improvement, rising to 3% from the previous year's 2.1%. This nearly met the projected margin of 3.1%.</p>
| NASDAQ:JD | https://financialmodelingprep.com/market-news/fmp-jdcom-stock-drops-5-despite-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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Nio’s Price Target Raised at BofA After Strong Delivery Growth | 2023-08-16 13:09:00 | <p>Bank of America reaffirmed its Buy rating on <a href='https://financialmodelingprep.com/financial-summary/NIO'>Nio (NYSE:NIO)</a> and increased its price target for the stock to $16.20, up from $15.40. This decision followed the release of NIO's monthly delivery figures.</p>
<p>In July, NIO experienced a substantial surge in deliveries, reaching 20.5k units. This marked an impressive 104% growth compared to the previous year and a remarkable 91% increase compared to the previous month. Noteworthy was the significant contribution of the new ES6 model, which achieved over 10k units in deliveries during the same month. Additionally, NIO's YT model recorded sales of 75k units in July, showcasing a year-over-year growth of 23%.</p>
<p>BofA analysts said in a note that they anticipate NIO's vehicle deliveries to reach 20-21k per month in August and September due to constraints in auto components. However, they believe that component supply will improve in the fourth quarter of 2023.</p>
| NYSE:NIO | https://financialmodelingprep.com/market-news/fmp-nio’s-price-target-raised-at-bofa-after-strong-delivery-growth | Davit Kirakosyan | Financial Modeling Prep |
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Getty Images Drops 6% on Q2 Miss & Guidance Cut | 2023-08-16 13:07:00 | <p><a href='https://financialmodelingprep.com/financial-summary/GETY'>Getty Images (NYSE:GETY)</a> adjusted its annual guidance downward after unexpectedly reporting a loss in the second quarter. The company's performance was negatively impacted by the U.S. Hollywood strike and litigation costs.</p>
<p>Following the report, the company’s stock experienced a significant decline of more than 6% yesterday. The company posted a loss of $0.01 per share with revenue amounting to $225.7 million. These figures fell short of Wall Street's expectations of $0.04 per share and $236.3 million in revenue, respectively.</p>
<p>The decline in revenue, which decreased by 3.3%, was driven by an additional $7 million in legal expenses related to ongoing litigation.
Looking forward, the company revised its revenue guidance to a range of $920 million to $935 million, down from the previous range of $936 million to $963 million.</p>
| NYSE:GETY | https://financialmodelingprep.com/market-news/fmp-getty-images-drops-6-on-q2-miss-&-guidance-cut | Davit Kirakosyan | Financial Modeling Prep |
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H&R Block Shares Gain 5% on Q4 Beat, Raises Dividend | 2023-08-15 18:05:00 | <p><a href='https://financialmodelingprep.com/financial-summary/HRB'>H&R Block (NYSE:HRB)</a> released its fourth-quarter results today, surpassing the consensus expectations. Following the announcement, shares rose more than 5% after-hours.</p>
<p>The tax preparation firm disclosed that it achieved an adjusted EPS of $2.05, with revenue amounting to $1.03 billion. These figures exceeded the predictions of Wall Street analysts, who had anticipated earnings of $1.88 per share on revenue totaling $1.01 billion.</p>
<p>As it looks forward to the fiscal year 2024, the company anticipates an adjusted EPS falling within the range of $4.10 to $4.30, while revenue is projected to be between $3.53 billion and $3.59 billion. Wall Street analysts had predicted earnings of $4.01 per share on revenue of $3.57 billion.</p>
<p>Furthermore, the company also announced a 10% increase in its dividend.</p>
| NYSE:HRB | https://financialmodelingprep.com/market-news/fmp-h&r-block-shares-gain-5-on-q4-beat-raises-dividend | Davit Kirakosyan | Financial Modeling Prep |
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On Holding Reports Strong Q2 Earnings, But Stock Drops 13% on Disappointing Guidance | 2023-08-15 18:03:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ONON'>On Holding (NYSE:ONON)</a>, the footwear manufacturer endorsed by former professional tennis player Roger Federer, experienced a decline of more than 13% today in its stock price subsequent to the release of its Q2 results and guidance for the latter part of the year. Despite displaying robust overall expansion, the sales forecast for the latter half of the year fell short of expectations, partially due to the influence of a strengthening Swiss franc.</p>
<p>On Holding posted Q2 sales amounting to CHF 444.3 million, representing a substantial 52.3% surge compared to the previous year. The adjusted earnings per share (EPS) for this period were CHF 0.04, contrasting with CHF 0.14 recorded in the previous year.</p>
<p>For the entire year of 2023, On Holding now estimates net sales totaling CHF 1.76 billion, which implies a noteworthy year-over-year growth rate of 44%. However, the projected growth rate for the second half of the year is anticipated to be approximately 30%. This is somewhat below market expectations, as the consensus was for a full-year sales forecast of CHF 1.78 billion.</p>
| NYSE:ONON | https://financialmodelingprep.com/market-news/fmp-on-holding-reports-strong-q2-earnings-but-stock-drops-13-on-disappointing-guidance | Davit Kirakosyan | Financial Modeling Prep |
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Cardinal Health Reports Better Than Expected Q4 Results | 2023-08-15 18:01:00 | <p><a href='https://financialmodelingprep.com/financial-summary/CAH'>Cardinal Health (NYSE:CAH)</a> released its Q4 results today, surpassing Street expectations. The adjusted earnings per share (EPS) stood at $1.55, representing a significant growth from the previous year's figure of $1.05. This exceeded the Street estimate of $1.49. </p>
<p>The company's revenue also exhibited a strong upward trajectory, reaching a total of $53.45 billion. This marked a 13% year-over-year increase and surpassed the projected revenue of $52.7 billion. Within this, the pharmaceutical revenue segment reached an impressive $49.7 billion, showcasing a 15% year-over-year rise and surpassing the projected revenue of $48.96 billion.</p>
<p>In light of this exceptional performance during Q4, Cardinal Health has revised its non-GAAP EPS guidance for the fiscal year 2024. The new projected range stands at $6.50 to $6.75, up from the previous range of $6.45 to $6.70.</p>
| NYSE:CAH | https://financialmodelingprep.com/market-news/fmp-cardinal-health-reports-better-than-expected-q4-results- | Davit Kirakosyan | Financial Modeling Prep |
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Discover Financial Drops 10% on CEO Resignation | 2023-08-15 13:45:00 | <p>Following the announcement of Roger Hochschild's immediate departure as CEO and President, along with his resignation from the Board, <a href='https://financialmodelingprep.com/financial-summary/DFS'>Discover Financial Services (NYSE:DFS)</a> experienced a more than 10% drop in its stock price.</p>
<p>To facilitate a seamless transition, Hochschild will continue to advise the company until the end of the year. John Owen, a Board member, has been designated as the Interim CEO and President. The company started the process of finding a permanent replacement for the roles of CEO and President.</p>
<p>Following the announcement, Evercore ISI analysts included Discover Financial’s stock in Evercore's Tactical Underperform List. The analysts noted that they anticipate the potential for ongoing regulatory risk, uncertainties in management, and possible negative impacts on returns to contribute to short-term underperformance compared to peers. They emphasized that the potential for additional regulatory actions and the uncertainty in leadership are expected to remain challenges for the company's shares.</p>
| NYSE:DFS | https://financialmodelingprep.com/market-news/fmp-discover-financial-drops-10-on-ceo-resignation | Davit Kirakosyan | Financial Modeling Prep |
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Sea Limited Shares Plummet 28% on Q2 Miss | 2023-08-15 13:42:00 | <p><a href='https://financialmodelingprep.com/financial-summary/SE'>Sea Limited (NYSE:SE)</a> released its financial results for the second quarter, which fell short of the Street estimates. As a result, shares plunged more than 28% intra-day today.</p>
<p>During the second quarter, Sea reported revenue of $3.10 billion, which was below the Street estimate of $3.26 billion. Earnings per share (EPS) were $0.54, also falling short of the Street estimate of $0.66.</p>
<p>While the company's e-commerce revenue reached $2.32 billion, surpassing the expected $2.25 billion, its digital entertainment revenue was reported at $529.4 million, lower than the projected $535.3 million.</p>
| NYSE:SE | https://financialmodelingprep.com/market-news/fmp-sea-limited-shares-plummet-28-on-q2-miss | Davit Kirakosyan | Financial Modeling Prep |
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Home Depot Reports Better Than Expected Q2 Earnings | 2023-08-15 13:32:00 | <p><a href='https://financialmodelingprep.com/financial-summary/HD'>Home Depot (NYSE:HD)</a> announced its financial results for the second quarter today. In Q2, Home Depot experienced a 2% reduction in comparable sales, surpassing the anticipated decline of 4.1%. This decline was also seen in the United States, with comparable sales down by 2%, which was better than the expected 3.6% drop.</p>
<p>The company's net sales totaled $42.9 billion, indicating a year-over-year decrease of 2%, but surpassing the projected amount of $42.1 billion. Earnings per share (EPS) came in at $4.65, compared to the Street estimate of $4.46.</p>
<p>Home Depot reaffirmed its outlook for the fiscal year 2024, anticipating that comparable sales will decline from 2% to 5%. Additionally, the company maintains its expectation of the full-year EPS decrease between 7% to 13% year-over-year.</p>
| NYSE:HD | https://financialmodelingprep.com/market-news/fmp-home-depot-reports-better-than-expected-q2-earnings | Davit Kirakosyan | Financial Modeling Prep |
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Tesla Cuts Prices in China, Shares Fall | 2023-08-15 13:30:00 | <p><a href='https://financialmodelingprep.com/financial-summary/TSLA'>Tesla (NASDAQ:TSLA)</a> shares fell more than 1% yesterday following the company's decision to lower prices for certain vehicles manufactured in China. This move has sparked concerns about escalating price competition within the country.</p>
<p>In an announcement on Monday, Tesla revealed that it had decreased the starting prices of its Model Y long-range and performance models by 4.5% and 3.8% respectively.</p>
<p>Additionally, Tesla stated that it would provide insurance subsidies to buyers of its entry-level, rear-wheel drive Model 3 in China until the end of September, signaling the intense rivalry for market share in China's electric vehicle sector. Competitors like Geely Automobile Holdings' Zeekr brand and Zhejiang Leapmotor Technology have also introduced similar price reductions. Sales of Tesla cars produced in China experienced a 31% month-on-month decline in July, marking the first drop since December.</p>
| NASDAQ:TSLA | https://financialmodelingprep.com/market-news/fmp-tesla-cuts-prices-in-china-shares-fall | Davit Kirakosyan | Financial Modeling Prep |
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Nvidia’s Upcoming Q2 Earnings Preview | 2023-08-15 13:28:00 | <p>Morgan Stanley analysts see the recent drop in <a href='https://financialmodelingprep.com/financial-summary/NVDA'>Nvidia (NASDAQ:NVDA)</a> stock as an attractive entry point for investors. Despite supply constraints, the firm expects strong performance in the upcoming quarter (Q2 earnings scheduled for Aug 23) and a positive outlook for the next 3 to 4 quarters. </p>
<p>Morgan Stanley continues to favor Nvidia due to the significant shift towards AI investment and an ongoing supply-demand imbalance that's projected to last for several quarters. The analysts stated that last quarter's $4 billion revenue increase was the largest surge in semiconductor history within a single quarter. </p>
| NASDAQ:NVDA | https://financialmodelingprep.com/market-news/fmp-nvidia’s-upcoming-q2-earnings-preview- | Davit Kirakosyan | Financial Modeling Prep |
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NICE Systems’ Price Target Raised at Citi | 2023-08-15 07:51:00 | <p>Citi analysts increased their target price for <a href='https://financialmodelingprep.com/financial-summary/NICE'>NICE Systems (NASDAQ:NICE)</a> to $338.00, up from $278.00, while maintaining a Buy rating. </p>
<p>The analysts expect the upcoming Q2 results (scheduled on Aug 17) to outperform, driven by positive partner feedback and discussions at the NICE Interactions conference. They predict a 1-1.5% top-line beat, with benefits from new engagements and postponed Q1 deals. CIO survey indicated an enhanced prioritization of CCaaS (Contact Center as a Service) and the first increase in the IT budget since September 2021.</p>
<p>Though NICE's federal activity is weaker year-over-year, the analysts remain optimistic, projecting sustained double-digit growth and expanding margins due to GenAI upselling, as the company gradually adopts a usage-based revenue model.</p>
| NASDAQ:NICE | https://financialmodelingprep.com/market-news/fmp-nice-systems’-price-target-raised-at-citi | Davit Kirakosyan | Financial Modeling Prep |
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Nvidia’s Upcoming Q2 Earnings Preview | 2023-08-15 07:44:00 | <p>Morgan Stanley analysts see the recent drop in <a href='https://financialmodelingprep.com/financial-summary/NVDA'>Nvidia (NASDAQ:NVDA)</a> stock as an attractive entry point for investors. Despite supply constraints, the firm expects strong performance in the upcoming quarter (Q2 earnings scheduled for Aug 23) and a positive outlook for the next 3 to 4 quarters. </p>
<p>Morgan Stanley continues to favor Nvidia due to the significant shift towards AI investment and an ongoing supply-demand imbalance that's projected to last for several quarters. The analysts stated that last quarter's $4 billion revenue increase was the largest surge in semiconductor history within a single quarter. </p>
| NASDAQ:NVDA | https://financialmodelingprep.com/market-news/fmp-nvidia’s-upcoming-q2-earnings-preview- | Davit Kirakosyan | Financial Modeling Prep |
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Monday.com Stock Jumps 5% Following Q2 Beat | 2023-08-14 10:21:00 | <p>Shares of <a href='https://financialmodelingprep.com/financial-summary/MNDY'>Monday.com (NASDAQ:MNDY)</a> experienced a pre-market increase of more than 5% today following the company’s reported Q2 results.</p>
<p>During the quarter, adjusted earnings per share (EPS) were 41 cents, marking a significant improvement compared to the loss of 33 cents per share during the corresponding period in the previous year. This performance exceeded the Street expectation of 17 cents per share.</p>
<p>The company's revenue reached $175.7 million in the second quarter, reflecting a substantial 42% growth compared to the same period in the previous year. This figure also surpassed the projected revenue of $169.2 million. </p>
<p>For Q3, management sees revenue of $181-$183 million, compared to the Street estimate of $178.8 million. For the full year, the company expects revenue of $713-$717 million, above the Street estimate of $704.7 million.</p>
| NASDAQ:MNDY | https://financialmodelingprep.com/market-news/fmp-mondaycom-stock-jumps-5-following-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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Okta Shares Soar 4% on Goldman Sachs Upgrade | 2023-08-14 10:18:00 | <p><a href='https://financialmodelingprep.com/financial-summary/OKTA'>Okta (NASDAQ:OKTA)</a> shares surged more than 4% in pre-market today after the company received an upgrade from Goldman Sachs analysts. The upgrade was prompted by the analysts' positive assessment of the risk/reward balance, particularly as they expect subscription revenue to reach its lowest point in the latter half of the year.</p>
<p>The analysts upgraded the stock's rating from Sell to Buy and assigned a price target of $91. They predict a period of strong performance for Okta. This expectation is grounded in the anticipation of increased growth in cRPO (remaining performance obligation) and ARR (annual recurring revenue), with a projected acceleration from the current 10-15% range to 15%-20%. </p>
<p>This potential growth is attributed to various factors, including the resolution of challenges in Okta's Customer Identity and Access Management (IAM) business stemming from the integration of its own products with acquired ones, the stabilization of the Workforce segment following strategic changes and macroeconomic challenges, and heightened momentum from cross-selling due to new product cycles, such as Identity Governance and Administration (IGA) and Privileged Access Management (PAM).</p>
| NASDAQ:OKTA | https://financialmodelingprep.com/market-news/fmp-okta-shares-soar-4-on-goldman-sachs-upgrade | Davit Kirakosyan | Financial Modeling Prep |
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Cano Health Stock Plunges 46% on Going Concern Warning | 2023-08-11 12:13:00 | <p><a href='https://financialmodelingprep.com/financial-summary/CANO'>Cano Health (NYSE:CANO)</a> witnessed a dramatic decline of over 46% in its stock price pre-market today following the issuance of a warning about its going concern status, coupled with an announcement about its exploration of a potential sale.</p>
<p>Cano Health disclosed its current inadequacy of liquidity to meet its financial obligations for the next year, encompassing operational, investment, and financing needs.</p>
<p>In a statement, Cano Health expressed management's assessment that there exists significant uncertainty regarding the company's ability to maintain operations as a going concern within the upcoming year.</p>
<p>During the second quarter, Cano Health reported total revenue of $766.7 million, which fell short of the projected $829 million. The adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) exhibited a loss of $149.7 million, a stark contrast to the anticipated profit of $12 million.</p>
<p>The company's loss per share for the period amounted to $0.51, worse than the predicted loss of $0.40 per share.</p>
| NYSE:CANO | https://financialmodelingprep.com/market-news/fmp-cano-health-stock-plunges-46-on-going-concern-warning | Davit Kirakosyan | Financial Modeling Prep |
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News Corp Posts Q4 EPS Beat, But Worse Than Expected Revenues | 2023-08-11 11:49:00 | <p><a href='https://financialmodelingprep.com/financial-summary/NWS'>News Corp (NASDAQ:NWS)</a> announced its Q4 financial results, posting earnings per share (EPS) of $0.14, surpassing the projected consensus of $0.09. However, the company experienced a 9% decline in revenue compared to the previous year, reaching $2.43 billion, which fell short of the Street estimate of $2.48 billion.</p>
<p>The decrease in revenues was primarily attributed to reduced book sales impacting the Book Publishing segment and challenging conditions in the housing markets affecting the Digital Real Estate Services segment in both the United States and Australia. On a positive note, the Subscription Video Services segment observed higher revenues, mitigating the overall decline.</p>
<p>Robert Thomson, the Chief Executive highlighted the resilience of the company's revenue streams and the effectiveness of strict cost management in navigating a complex landscape of macroeconomic factors, supply chain challenges, and currency fluctuations. The company achieved total revenues of $9.9 billion and profits exceeding $1.4 billion for the full 2023 year, marking the second-highest level of profitability ever recorded by News Corp.</p>
| NASDAQ:NWS | https://financialmodelingprep.com/market-news/fmp-news-corp-posts-q4-eps-beat-but-worse-than-expected-revenues | Davit Kirakosyan | Financial Modeling Prep |
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Arlo Technologies Gains on Q2 Beat | 2023-08-11 11:40:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ARLO'>Arlo Technologies (NYSE:ARLO)</a> shares rose more than 3% intra-day today following the company's announcement of Q2 results that exceeded expectations.</p>
<p>Earnings per share (EPS) was $0.06, surpassing the Street estimate of $0.04. The revenue experienced a 3.3% decrease year-over-year, amounting to $115.1 million, compared to the Street estimate of $110.18 million.</p>
<p>The quarter concluded with an Annual Recurring Revenue (ARR) of $193.6 million, showcasing a remarkable growth rate of 66.1% compared to the previous year. Throughout the quarter, the company added 245,000 paid accounts, bringing the cumulative number of paid accounts to approximately 2.3 million, up 54.9% year-over-year.</p>
| NYSE:ARLO | https://financialmodelingprep.com/market-news/fmp-arlo-technologies-gains-on-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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Rigetti Computing Upgraded at Benchmark, Shares Jump 50% Following Q2 | 2023-08-11 11:38:00 | <p>Benchmark analysts raised the rating of <a href='https://financialmodelingprep.com/financial-summary/RGTI'>Rigetti Computing (NASDAQ:RGTI)</a> to Buy from Hold, with a price target of $4.00.</p>
<p>The analysts explained that the decision to upgrade Rigetti is based on the company's strong performance in the second quarter, as its strategic repositioning has shown promising results on various fronts. As a result of the positive Q2 announcement, shares jumped more than 50% intra-day today.</p>
<p>Of particular note is the positive reception of the company's first Quantum Processing Unit (QPU) sale during the quarter. The analysts believe this sale represents a pivotal moment, likely leading to increased hardware sales, given the QPU's attractive price point and user-friendly installation process.</p>
<p>According to the analysts, this sale signifies a growing interest from customers and serves as an endorsement of Rigetti's technology. </p>
| NASDAQ:, RGTI | https://financialmodelingprep.com/market-news/fmp-rigetti-computing-upgraded-at-benchmark-shares-jump-50-following-q2 | Davit Kirakosyan | Financial Modeling Prep |
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Maxeon Plunges 26% Following Q2 Earnings Report | 2023-08-11 08:53:00 | <p><a href='https://financialmodelingprep.com/financial-summary/MAXN'>Maxeon (NASDAQ:MAXN)</a> shares experienced a significant drop of more than 26% in pre-market today subsequent to the release of the company's Q2 results. The reported revenue of $348.4 million was notably lower than the anticipated consensus figure of $378.23 million. Additionally, EPS stood at ($0.03), compared to the Street estimate of ($0.07).</p>
<p>CEO Bill Mulligan attributed the decline in the global distributed generation (DG) market's demand to various factors, including elevated interest rates, disruptions in California's policies, and a widespread accumulation of channel inventory. </p>
<p>Looking ahead to Q3, Maxeon foresees revenue to fall within the range of $280 million to $320 million, which falls short of the Street estimate of $395.3 million. </p>
<p>For the full year, Maxeon projects its revenue to be in the range of $1.25 billion to $1.35 billion, which is below the Street estimate of $1.51 billion. </p>
| NASDAQ:MAXN | https://financialmodelingprep.com/market-news/fmp-maxeon-plunges-26-following-q2-earnings-report | Davit Kirakosyan | Financial Modeling Prep |
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Cisco Systems Upcoming Earnings Preview by Citi | 2023-08-11 08:48:00 | <p>Citi analysts initiated a positive catalyst watch on <a href='https://financialmodelingprep.com/financial-summary/CSCO'>Cisco Systems (NASDAQ:CSCO)</a>, expecting the company to perform better than its counterparts, Arista Networks and Juniper.</p>
<p>The analysts’ perspective is grounded in the belief that robust demand from enterprises will contribute to favorable results for Cisco in the upcoming July quarter. Cisco's earnings announcement is scheduled for Wednesday, August 16.</p>
<p>According to the analysts, Cisco is likely to benefit due to its substantial exposure to the enterprise sector, with enterprise and commercial segments accounting for over 50% of its sales. Despite the increasing optimism in the short term, Citi’s rating for Cisco stock remains Neutral with a price target of $54 per share.</p>
| NASDAQ:CSCO | https://financialmodelingprep.com/market-news/fmp-cisco-systems-upcoming-earnings-preview-by-citi | Davit Kirakosyan | Financial Modeling Prep |
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AppLovin Stock Jumps 30% Following Q2 Report | 2023-08-10 16:03:00 | <p><a href='https://financialmodelingprep.com/financial-summary/APP'>AppLovin (NASDAQ:APP)</a> saw its shares skyrocket by more than 30% intra-day today after posting its Q2 results.</p>
<p>The company outperformed predictions with an EPS of $0.22, surpassing the Street estimate of $0.08. Despite a 3% year-over-year decline, revenue reached $750 million, exceeding the Street estimate of $723.97 million. Notably, the Software Platform division experienced substantial growth, surging 28% year-over-year to reach $406 million—a quarterly record. This rise was fueled by AI advancements integrated into AXON, which led to increased installations and higher revenue per installation compared to the previous quarter. </p>
<p>Looking ahead to Q3, AppLovin anticipates revenue in the $780-$800 million range, surpassing the Street estimate of $741.41 million. </p>
| NASDAQ:APP | https://financialmodelingprep.com/market-news/fmp-applovin-stock-jumps-30-following-q2-report | Davit Kirakosyan | Financial Modeling Prep |
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Illumina Shares Gain on Q2 Beat, While Outlook Misses | 2023-08-10 13:00:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ILMN'>Illumina (NASDAQ:ILMN)</a> saw a more than 3% gain intra-day today after the company’s Q2 results announcement. </p>
<p>The company's adjusted EPS for the quarter exceeded forecasts, reaching 32 cents compared to the expected 2 cents. Revenue for the second quarter reached $1.18 billion, a slight 1.2% increase from the previous year, surpassing the estimated $1.16 billion.</p>
<p>Illumina's CEO stated that they anticipate a negative impact on second-half revenue due to cautious customer purchasing, slower recovery in China, and a larger-than-expected decline in high throughput consumables as customers transition to the NovaSeq X. In response, they plan to enhance customer support for the NovaSeq X and maintain disciplined expense management.</p>
<p>As a result, the company revised its full-year profit forecast to a range of $0.75 to $0.90, falling short of the Street estimate of $1.33. </p>
| NASDAQ:ILMN | https://financialmodelingprep.com/market-news/fmp-illumina-shares-gain-on-q2-beat-while-outlook-misses | Davit Kirakosyan | Financial Modeling Prep |
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Roblox Stock Plunges 21% Following Q2 Earnings Miss | 2023-08-10 12:55:00 | <p><a href='https://financialmodelingprep.com/financial-summary/RBLX'>Roblox (NASDAQ:RBLX)</a> experienced a decline of more than 21% yesterday following the release of its second-quarter results.</p>
<p>The company reported a loss per share of 46 cents, which was worse than the anticipated loss of 44 cents per share. Bookings for the quarter reached $780.7 million, below the Street estimate of $785.4 million.</p>
<p>The revenue for the period reached $680.8 million, reflecting a 15% increase from the previous year. Impressively, the platform witnessed a substantial 25% surge in Average Daily Active Users (DAUs), reaching 65.5 million.</p>
<p>Moreover, the number of average monthly unique payers increased by 19% to 13.5 million. Hours of engagement on the platform also witnessed an impressive growth of 24%, reaching 14.0 billion.</p>
| NASDAQ:RBLX | https://financialmodelingprep.com/market-news/fmp-roblox-stock-plunges-21-following-q2-earnings-miss | Davit Kirakosyan | Financial Modeling Prep |
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Plug Power Downgraded at Roth/MKM | 2023-08-10 12:53:00 | <p>Roth/MKM analysts downgraded <a href='https://financialmodelingprep.com/financial-summary/PLUG'>Plug Power (NASDAQ:PLUG)</a> from Buy to Neutral, adjusting their price target to $7.50, a reduction from the earlier $13.00. This follows the company’s announced Q2 profit miss, which resulted in a share price drop of more than 13% intra-day today.</p>
<p>The analysts point to gross margin challenges in the second quarter of 2023, indicating that these issues might not be swiftly resolved. This situation is signaling the likelihood of significantly higher cash plant commissioning costs than previously anticipated. Consequently, the analysts lowered their estimates, with a primary focus on the impact on gross margins.</p>
<p>They noted the company's cash burn of over ($1.6 billion) in the past year, which tempers the apparent progress in revenue. Moreover, despite the revenue growth, the company's unrestricted cash of $1 billion raises concerns that additional financing might be necessary in the near future. </p>
<p>The analysts highlighted that the management is actively seeking $1 billion in Department of Energy (DOE) project loans, which could potentially materialize by year-end. However, the analysts suggest that these loans wouldn't be sufficient to offset the operational cash burn.</p>
| NASDAQ:PLUG | https://financialmodelingprep.com/market-news/fmp-plug-power-downgraded-at-rothmkm | Davit Kirakosyan | Financial Modeling Prep |
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Wynn Resorts Reports Q2 Beat, Shares Gains 3% | 2023-08-10 09:25:00 | <p><a href='https://financialmodelingprep.com/financial-summary/WYNN'>Wynn Resorts (NASDAQ:WYNN)</a> delivered Q2 results on Wednesday that outperformed analysts' predictions, driven by the ongoing post-COVID rebound in Macau, a prominent gambling hub, which effectively countered the sluggishness observed in North America. Following the announcement, Wynn Resorts saw more than a 3% increase in pre-market today.</p>
<p>The reported figures highlighted an adjusted EPS of $0.91, coupled with a revenue of $1.60 billion. This performance exceeded the Street expectations of an EPS of $0.64 and revenue of $1.54 billion.</p>
<p>Specifically, the operational income in Macau experienced a remarkable turnaround, surging from a loss of $185.3 million in the corresponding period of the previous year to a gain of $121.7 million. Conversely, income in Las Vegas declined from $261.8 million in the prior year to $123.3 million.</p>
| NASDAQ:WYNN | https://financialmodelingprep.com/market-news/fmp-wynn-resorts-reports-q2-beat-shares-gains-3 | Davit Kirakosyan | Financial Modeling Prep |
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The Trade Desk Reports Better Than Expected Q2 Results & Guidance | 2023-08-10 09:23:00 | <p><a href='https://financialmodelingprep.com/financial-summary/TTD'>The Trade Desk (NASDAQ:TTD)</a> announced Q2 earnings and guidance that exceeded expectations.</p>
<p>The company achieved an EPS of $0.28, surpassing the Street estimate of $0.26. Additionally, revenue demonstrated an impressive 23% year-over-year growth, reaching $464 million, outperforming the Street estimate of $454.71 million. Remarkably, customer retention during Q2 remained consistently high at over 95%, a trend upheld for the last nine consecutive years.</p>
<p>Looking ahead to Q3/23, The Trade Desk anticipates revenue to attain a minimum of $485 million, surpassing the Street estimate of $479.61 million. The projection for Adjusted EBITDA stands at approximately $185 million.</p>
| NASDAQ:TTD | https://financialmodelingprep.com/market-news/fmp-the-trade-desk-reports-better-than-expected-q2-results-&-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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YETI Holdings Shares Surge 7% Following Strong Q2 Report | 2023-08-10 09:09:00 | <p><a href='https://financialmodelingprep.com/financial-summary/YETI'>YETI Holdings (NYSE:YETI)</a> saw its shares rise by over 7% in pre-market today following its Q2 report that exceeded expectations, driven by stronger margins and improved guidance.</p>
<p>The company reported a 10% drop in adjusted EPS to $0.57, surpassing the expected $0.46. While quarterly revenue fell by 4% to $402.6 million, adjusted sales, excluding the impact of the recall reserve adjustment, climbed 2% to $427.1 million, beating the anticipated $411.81 million.</p>
<p>Looking ahead, the company revised its full-year guidance, now anticipating a 4% to 5% growth in adjusted sales, up from the earlier 3% to 5%. Adjusted EPS is expected to range between $2.23 and $2.32, an increase from the prior $2.12 to $2.23, beating the Street estimate of $2.19.</p>
| NYSE:YETI | https://financialmodelingprep.com/market-news/fmp-yeti-holdings-shares-surge-7-following-strong-q2-report | Davit Kirakosyan | Financial Modeling Prep |
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Doximity Shares Plunge 22% on Guidance Miss | 2023-08-09 13:41:00 | <p>Despite surpassing analyst expectations for its Q1 results, <a href='https://financialmodelingprep.com/financial-summary/DOCS'>Doximity’s (NYSE:DOCS)</a> revised guidance downwards led to a more than 22% decline in its shares intra-day today.</p>
<p>For the first fiscal quarter, Doximity reported a profit of 19 cents per share, which came in above the expected 14 cents. The company's revenue grew by 20% year-over-year to $108.5 million, which exceeded the Street estimate of $107 million.</p>
<p>However, for the upcoming quarter, the company's revenue guidance stands at $109 million, falling short of the anticipated $121.3 million. Additionally, for 2024, Doximity has reduced its revenue outlook from the initial $503 million to now $460 million.</p>
<p>In another significant move, the company disclosed its intention to trim its current workforce, with plans to lay off around 100 employees, representing roughly 10% of its total workforce.</p>
| NYSE:DOCS | https://financialmodelingprep.com/market-news/fmp-doximity-shares-plunge-22-on-guidance-miss | Davit Kirakosyan | Financial Modeling Prep |
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Toast Stock Jumps 14% Following Q2 Earnings | 2023-08-09 13:38:00 | <p><a href='https://financialmodelingprep.com/financial-summary/TOST'>Toast (NYSE:TOST)</a> shares skyrocketed by more than 14% today in response to the company's Q2 financial results. The company reported a revenue of $978 million, reflecting a 45% growth year-over-year, which surpassed the Street's estimate of $943.08 million. The EPS stood at ($0.19), missing the Street estimate of ($0.01).</p>
<p>By the end of June 2023, Toast's Annual Recurring Revenue (ARR) had reached $1.1 billion, marking a 45% boost from the previous year. Moreover, their Gross Payment Volume (GPV) witnessed a 38% year-over-year growth, reaching $32.1 billion.</p>
<p>Looking forward to Q3 of 2023, the company projects its revenue to be in the range of $1.010 billion to $1.040 billion, which is slightly above the Street expectation of $1.002B. Their Adjusted EBITDA for the same quarter is anticipated to be between $15 million and $25 million. For the full year, Toast's revenue forecast ranges from $3.810 billion to $3.870 billion, compared to the Street estimate of $3.775 billion. </p>
| NYSE:TOST | https://financialmodelingprep.com/market-news/fmp-toast-stock-jumps-14-following-q2-earnings- | Davit Kirakosyan | Financial Modeling Prep |
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Take-Two Interactive Software Reports Q1 Miss & Disappointing Outlook | 2023-08-09 13:27:00 | <p><a href='https://financialmodelingprep.com/financial-summary/TTWO'>Take-Two Interactive Software (NASDAQ:TTWO)</a> reported its Q1 earnings and outlook, which fell short of projections.</p>
<p>Take-Two posted a profit of 27 cents per share for Q1 with a revenue of $1.28 billion. This compares to the Street's estimated earnings of 33 cents per share and a revenue figure of $1.22 billion. On a positive note, net bookings for the company were reported at $1.2 billion, reflecting a 20% growth year-over-year, aligning with Street estimates.</p>
<p> Take-Two expects an adjusted EPS of $1.00 for the current quarter and expects to post revenue of around $1.285 billion. The company's midpoint net bookings estimate is $1.425 billion. However, these figures are below the analysts' expectations, which were set at $1.46 billion for net bookings, an adjusted EPS of $1.15, and a revenue of $1.45 billion.</p>
<p>For the fiscal year of 2024, Take-Two forecasts its adjusted EPS to range between $3.00 and $3.25. They anticipate net bookings and revenue to be around $5.5 billion and $5.42 billion respectively. This again missed the consensus, which predicted an adjusted EPS of $3.52, net bookings of $5.57 billion, and a revenue estimate of $5.56 billion.</p>
| NASDAQ:TTWO | https://financialmodelingprep.com/market-news/fmp-take-two-interactive-software-reports-q1-miss-&-disappointing-outlook | Davit Kirakosyan | Financial Modeling Prep |
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Twilio Jumps 10% Following Strong Q2 Results | 2023-08-09 12:30:00 | <p><a href='https://financialmodelingprep.com/financial-summary/TWLO'>Twilio (NYSE:TWLO)</a> shares experienced more than a 10% rise intra-day today, following the release of its Q2 financial figures. The company's EPS, standing at $0.54, outperformed the Street's estimate of $0.30. Additionally, with a 10% year-over-year growth, its revenue reached $1.04 billion, surpassing the Street projection of $987.07 million.</p>
<p>For the third quarter of 2023, Twilio forecasts an EPS between $0.33 and $0.37, which is above the expected $0.30. However, they project their revenue to range from $0.98 billion to $0.99 billion, slightly under the Street forecast of $1.02B.</p>
<p>Twilio has also raised its annual guidance, now anticipating its non-GAAP Income from Operations to fall between $350 million and $400 million.</p>
| NYSE:TWLO | https://financialmodelingprep.com/market-news/fmp-twilio-jumps-10-following-strong-q2-results- | Davit Kirakosyan | Financial Modeling Prep |
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Lyft Stock Drops 10% Despite Better Than Expected Q2 Results | 2023-08-09 12:14:00 | <p>In early Wednesday trading, <a href='https://financialmodelingprep.com/financial-summary/LYFT'>Lyft (NASDAQ:LYFT)</a> shares dropped by nearly 10%, even though the company surpassed Q2 Street expectations and offered more optimistic guidance than anticipated. Despite an initial uptick in shares, they dipped following reserved remarks from the management.</p>
<p>Lyft's adjusted EPS stood at $0.16, surpassing the expected loss of $0.01 per share for the quarter. With a revenue of $1.02 billion, it aligned with the consensus estimate. Active rider numbers climbed by 8.2% to reach 21.5 million. </p>
<p>For the third quarter, Lyft projects revenues ranging from $1.13 billion to $1.15 billion, outpacing Wall Street's predictions. For Q3, Lyft anticipates its adjusted EBITDA to lie between $75 million and $85 million.</p>
| NASDAQ:LYFT | https://financialmodelingprep.com/market-news/fmp-lyft-stock-drops-10-despite-better-than-expected-q2-results- | Davit Kirakosyan | Financial Modeling Prep |
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Beyond Meat Plunges 17% Following Q2 Revenue Miss & Disappointing Guidance | 2023-08-08 10:59:00 | <p>Following the release of its Q2 results, <a href='https://financialmodelingprep.com/financial-summary/BYND'>Beyond Meat (NASDAQ:BYND)</a> witnessed a sharp decline of over 17% in pre-market today.</p>
<p>The reported revenue for the second quarter was $102.1 million, reflecting a significant 30.5% decline compared to the same period last year. This figure fell short of the expected consensus estimate of $108.74 million. Meanwhile, the Q2 EPS stood at ($0.83), which was slightly better than the anticipated consensus of ($0.84).</p>
<p>The drop in revenue was primarily caused by a decrease of 23.9% in the quantity of products sold and an 8.6% decline in revenue for each unit of weight. This decline in product volume was largely due to sluggish demand in the product category, particularly noticeable in the company's U.S. retail and U.S. food service channels. </p>
<p>Looking forward, Beyond Meat predicts its 2023 revenue to fall within the range of $360 million to $380 million, which is notably below the Street estimate of $388 million.</p>
| NASDAQ:BYND | https://financialmodelingprep.com/market-news/fmp-beyond-meat-plunges-17-following-q2-revenue-miss-&-disappointing-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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Five9 Stock Drops 5% Following Q2 Results | 2023-08-08 10:56:00 | <p><a href='https://financialmodelingprep.com/financial-summary/FIVN'>Five9 (NASDAQ:FIVN)</a> shares fell more than 5% pre-market today after the company reported Q2 results that surpassed expectations but came with a mixed outlook.</p>
<p>The reported Q2 EPS of $0.52 was higher than the expected consensus of $0.39. Additionally, the revenue for the quarter stood at $222.9 million, representing an 18% year-over-year increase, exceeding the Street estimate of $214.63 million.</p>
<p>CEO Mike Burkland emphasized the role of the Enterprise business in driving this growth, with a 28% year-over-year increase in subscription revenue. </p>
<p>The projected EPS for the current quarter is between $0.42 and $0.44, compared to the Street estimate of $0.43. Revenue guidance for the same period is in the range of $223.5 million to $224.5 million, below the Street estimate of $227.97 million.</p>
<p>For the full year, Five9 projects an EPS range of $1.79 to $1.83, slightly surpassing the Street estimate of $1.77. Revenue for the full year is anticipated to be between $908 million and $910 million, compared to the Street estimate of $908.27 million.</p>
| NASDAQ:FIVN | https://financialmodelingprep.com/market-news/fmp-five9-stock-drops-5-following-q2-results- | Davit Kirakosyan | Financial Modeling Prep |
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Lucid Reports Worse Than Expected Q2 Results | 2023-08-08 10:48:00 | <p><a href='https://financialmodelingprep.com/financial-summary/LCID'>Lucid Group (NASDAQ:LCID)</a> reported its Q2 earnings yesterday. The EPS for the quarter came in at ($0.40), falling short of the anticipated consensus estimate of ($0.35). Lucid's reported revenue of $150.9 million was driven by the delivery of 1,404 vehicles to customers during the quarter, significantly lower than the consensus-estimated revenue of $191.41 million.</p>
<p>Lucid closed the quarter with a total liquidity of approximately $6.25 billion, which is expected to be sufficient to fund the company's operations until 2025.</p>
<p>CEO and CTO Peter Rawlinson acknowledged the company's progress in achieving its 2023 production target of more than 10,000 vehicles. Rawlinson also highlighted notable accomplishments in the quarter, including a strategic partnership agreement with Aston Martin. </p>
| NASDAQ:LCID | https://financialmodelingprep.com/market-news/fmp-lucid-reports-worse-than-expected-q2-results- | Davit Kirakosyan | Financial Modeling Prep |
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DaVita Upgraded at UBS, Shares Gain 3% | 2023-08-08 10:46:00 | <p>UBS upgraded <a href='https://financialmodelingprep.com/financial-summary/DVA'>DaVita's (NYSE:DVA)</a> rating from Neutral to Buy, revising the price target upwards from $100.00 to $142.00. As a result, shares gained more than 3% yesterday.</p>
<p>The firm’s rationale hinges on notable positive revisions to the 2024 forecasts for EBIT, which is now anticipated to reach $1.793 billion, and EPS, projected at $9.00. Both these estimates significantly surpass Street consensus figures.</p>
<p>The bank’s viewpoint underscores the anticipation of a turning point in treatment growth, expected in the second and third quarters, followed by a more pronounced surge in 2024. This growth trajectory is reinforced by improved pricing strategies and a more streamlined cost structure, integrating savings from the End Stage Renal Disease Seamless Care Organizations (ESA) and clinic closures.</p>
| NYSE:DVA | https://financialmodelingprep.com/market-news/fmp-davita-upgraded-at-ubs-shares-gain-3 | Davit Kirakosyan | Financial Modeling Prep |
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Chegg Stock Jumps 20% Following Q2 Earnings Report | 2023-08-08 08:00:00 | <p><a href='https://financialmodelingprep.com/financial-summary/CHGG'>Chegg (NYSE:CHGG)</a> exceeded expectations for its second-quarter revenues and outlined its intentions to further expand into generative artificial intelligence. This move is aimed at directly competing with ChatGPT in the AI space. Chegg's stock surged by over 20% pre-market today.</p>
<p>Chegg's adjusted EPS stood at $0.28, coupled with a revenue of $182.9 million. These figures outperformed Street predictions of $0.29 EPS and $176.5 million in revenue. Notably, the company observed improvements in year-over-year customer acquisition and retention rates in the quarter, a trend that followed the launch of its initial generative AI experience in May.</p>
<p>Looking ahead to Q3, the company anticipates revenue between $151 million and $153 million, compared to the Street estimate of $152.4 million.</p>
| NYSE:CHGG | https://financialmodelingprep.com/market-news/fmp-chegg-stock-jumps-20-following-q2-earnings-report | Davit Kirakosyan | Financial Modeling Prep |
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Paramount Global Shares Gain on Strong Q2 Beat | 2023-08-08 07:54:00 | <p><a href='https://financialmodelingprep.com/financial-summary/PARA'>Paramount Global (NASDAQ:PARA)</a> surprised the market on Monday by posting an unexpected profit for the second quarter, fueled by the success of its investments in streaming content that continued to attract new subscribers and foster growth. Following the release of this report, Paramount's stock gained nearly 3% yesterday.</p>
<p>The media and entertainment giant reported adjusted EPS of $0.10 for Q2, alongside revenue of $7.62 billion. These figures surpassed Street predictions that anticipated a loss of $0.02 per share and revenue of $7.45 billion.</p>
<p>One notable highlight is the exceptional growth in subscription revenue, which surged by 47% to exceed $1.2 billion. Paramount+'s subscriber base contributed significantly to this growth, with an addition of 0.7 million subscribers during the quarter, resulting in a total of 61 million subscribers.</p>
| NASDAQ:PARA | https://financialmodelingprep.com/market-news/fmp-paramount-global-shares-gain-on-strong-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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Amazon Stock Surges 8% Following Strong Q2 Results | 2023-08-07 13:18:00 | <p>In the second quarter, Amazon exceeded analysts' predictions, delivering impressive results and providing positive guidance for Q3. The company's cloud business performed exceptionally well, outpacing expectations. <a href='https://financialmodelingprep.com/financial-summary/AMZN'>Amazon (NASDAQ:AMZN)</a> soared by more than 8% on Friday in response to the report.</p>
<p>In Q2, Amazon reported an EPS of $0.65 and revenue of $134.4 billion, surpassing estimated figures of $0.35 and $131.45 billion, respectively. Moreover, its North American net sales increased by 11% year-on-year, reaching $82.5 billion.</p>
<p>A notable highlight was Amazon Web Services, the fast-growing cloud revenue segment, which experienced a remarkable 12% growth, amounting to $22.1 billion, well ahead of estimates at 10.2%. This particular segment accounted for a significant 70% of Amazon's operating profit during Q2.</p>
<p>Looking forward to the third quarter, the company is optimistic, projecting revenue between $138 billion and $143 billion, surpassing Wall Street's estimated $138.28 billion. Additionally, Amazon guided an operating income range of $5.5 billion to $8.5 billion for Q3.</p>
| NASDAQ:AMZN | https://financialmodelingprep.com/market-news/fmp-amazon-stock-surges-8-following-strong-q2-results- | Davit Kirakosyan | Financial Modeling Prep |
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Monster Beverage Upgraded to Overweight at Piper Sandler | 2023-08-07 13:15:00 | <p>Piper Sandler analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/MNST'>Monster Beverage (NASDAQ:MNST)</a> to an Overweight rating from Neutral and increased their price target to $63.00 from the previous $60.00. According to the analysts’ comments, although the Q2/23 results fell below expectations, there are no major concerns about the company's overall business or its near and long-term momentum. The energy drink category, in particular, is seen as highly promising, especially given the absence of private label competition.</p>
<p>Anticipating a promising future, the analysts project a robust 10-11% three-year revenue compound annual growth rate (CAGR). Additionally, there are expectations of a gross margin recovery, leading to an estimated 22-23% three-year EPS CAGR.</p>
<p>As a result of the positive outlook, the analysts raised the estimated earnings per share for 2023 from $1.51 to $1.60 and for 2024 from $1.82 to $1.90. </p>
| NASDAQ:MNST | https://financialmodelingprep.com/market-news/fmp-monster-beverage-upgraded-to-overweight-at-piper-sandler- | Davit Kirakosyan | Financial Modeling Prep |
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Block’s Price Target Raised at Mizuho Securities | 2023-08-07 13:11:00 | <p>Despite a 14% post-earnings sell-off due to slowing July gross profit trends, Mizuho Securities expressed confidence in <a href='https://financialmodelingprep.com/financial-summary/SQ'>Block (NYSE:SQ)</a> and reiterated a Buy rating on the stock. After analyzing the company's recent results, the analysts discovered that the updated gross profit and operating expense guidance implies an adjusted EBITDA floor of $1.6 billion for 2023, about 7% ahead of the $1.5 billion EBITDA guide.</p>
<p>Based on this analysis, the analysts increased the price target for the stock from $85 to $90. Looking ahead to the third quarter, they expect a potential upside to approximately $430 million in adjusted EBITDA compared to the implied guide of around $366 million. </p>
| NYSE:SQ | https://financialmodelingprep.com/market-news/fmp-block’s-price-target-raised-at-mizuho-securities- | Davit Kirakosyan | Financial Modeling Prep |
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Palantir Technologies’ Price Target Raised at Citi | 2023-08-07 13:09:00 | <p>Citi analysts increased their price target on <a href='https://financialmodelingprep.com/financial-summary/PLTR'>Palantir Technologies (NYSE:PLTR)</a> from $6.00 to $10.00 while maintaining their Sell rating ahead of the company’s Q2/23 earnings, which are scheduled to be announced today after the market close.</p>
<p>According to the analysts, the significant year-to-date rally of approximately 183% in shares lacks a substantial improvement in fundamentals and is likely driven by GenAI optimism, short-covering, and macro factors. Despite the expectation of increased customer engagement momentum, the analysts believe that large "GenAI" contracts are unlikely to materialize at this stage due to the company's product and pricing strategy still being in its early stages. Moreover, long-term secular and competitive concerns remain.</p>
<p>Heading into Q2 earnings, there is a mixed setup with additional SPAC-related bankruptcies pulling revenue recognition forward, potentially leading to a mechanical upside. However, this may not significantly impact full-year 2023 targets.</p>
| NYSE:PLTR | https://financialmodelingprep.com/market-news/fmp-palantir-technologies’-price-target-raised-at-citi | Davit Kirakosyan | Financial Modeling Prep |
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Tyson Foods Shares Drop 7% Following Q3 Results | 2023-08-07 09:16:00 | <p><a href='https://financialmodelingprep.com/financial-summary/TSN'>Tyson Foods (NYSE:TSN)</a> released its third-quarter financial results, which were not as strong as expected. This led to a decrease of over 7% in its shares in pre-market today.</p>
<p>The company reported earnings per share of 15 cents and revenue of $13.14 billion. These figures fell short of the market consensus, which had anticipated earnings of 27 cents per share and revenue of $13.63 billion. In comparison to the previous year, overall revenue declined by 2.6%. The drop in pork sales volume by 1.8% was a contributing factor, and analysts had been anticipating a 1.5% growth.</p>
<p>Despite the challenging market conditions, Donnie King, CEO of Tyson Foods, expressed the company's unwavering commitment to achieving sustainable growth and improving margins.</p>
<p>In response to the results, Tyson Foods announced the closure of four chicken facilities. Looking ahead, the company expects full-year sales to be in the range of $53-54 billion, aligning closely with the consensus estimate of $53.63 billion.</p>
| NYSE:TSN | https://financialmodelingprep.com/market-news/fmp-tyson-foods-shares-drop-7-following-q3-results- | Davit Kirakosyan | Financial Modeling Prep |
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Wayfair Stock Gains on UBS Upgrade | 2023-08-07 09:11:00 | <p><a href='https://financialmodelingprep.com/financial-summary/W'>Wayfair (NYSE:W)</a> shares rose more than 2% pre-market today after UBS upgraded the company from Neutral to Buy, along with raising the price target from $72.00 to $110.00.</p>
<p>The analysts explain that Wayfair's current low valuation does not fully reflect its favorable outlook in the intermediate term. The analysts believe that investors will be pleasantly surprised by the significant increase in profits that Wayfair is expected to achieve in the upcoming periods.</p>
<p>The analysts predict that Wayfair is on the brink of entering a multi-quarter phase where it will experience both sales and profit growth. As a result, the company's valuation multiple, currently at 1.0x EV/Sales, is likely to rise to at least its historical average of 1.2x EV/Sales, and possibly even higher. </p>
| NYSE:W | https://financialmodelingprep.com/market-news/fmp-wayfair-stock-gains-on-ubs-upgrade | Davit Kirakosyan | Financial Modeling Prep |
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Fortinet Stock Drops 25% Following Q2 Earnings | 2023-08-05 08:54:00 | <p><a href='https://financialmodelingprep.com/financial-summary/FTNT'>Fortinet (NASDAQ:FTNT)</a> faced a significant decline in its shares, dropping more than 25% on Friday. The cause of the downturn was the company's disappointing Q2 results. Revenue came in at $1.29 billion, compared to the Street estimate of $1.31 billion.</p>
<p>Fortinet's management decided to revise the full-year forecast. The company now projects full-year revenue to be $5.4 billion, which is lower than the previous estimate of $5.46 billion and falls short of the market consensus of $5.47 billion. Additionally, full-year billings are expected to reach $6.54 billion, down from the prior guidance of $6.78 billion, and below the Street forecast of $6.79 billion. In terms of adjusted EPS for the fiscal year, Fortinet anticipates $1.51, whereas the Street's expectation was $1.47.</p>
| NASDAQ:FTNT | https://financialmodelingprep.com/market-news/fmp-fortinet-stock-drops-25-following-q2-earnings- | Davit Kirakosyan | Financial Modeling Prep |
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Booking Shares Gain 7% on Q2 Beat | 2023-08-05 08:52:00 | <p><a href='https://financialmodelingprep.com/financial-summary/BKNG'>Booking (NASDAQ:BKNG)</a> shares gained more than 7% yesterday following the release of stronger-than-expected Q2 results.</p>
<p>The company's revenue witnessed an impressive 27% year-over-year rise, reaching $5.46 billion, surpassing the Street estimate of $5.16 billion. Moreover, Booking reported adjusted earnings per share of $37.62, which far exceeded the expected $28.87 per share. Gross bookings also saw substantial growth, jumping 15% year-over-year to $39.69 billion, ahead of the Street estimate of $38.11 billion.</p>
<p>Glenn Fogel, Booking's CEO, attributed the robust performance to the continuous strong demand for leisure travel, which contributed to better-than-expected room nights and gross bookings in the quarter. Additionally, the company has observed these favorable trends persisting into July and is gearing up for what they anticipate to be a record-breaking summer travel season in the third quarter.</p>
| NASDAQ:BKNG | https://financialmodelingprep.com/market-news/fmp-booking-shares-gain-7-on-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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Yelp Stock Surges 5% on Better Than Expected Q2 Results | 2023-08-05 08:50:00 | <p><a href='https://financialmodelingprep.com/financial-summary/YELP'>Yelp (NYSE:YELP)</a> shares rose nearly 5% on Friday after the company released its Q2 results, showing earnings per share of $0.21, surpassing the Street estimate of $0.16. The company also achieved a 13% year-over-year increase in revenue, reaching $337 million, beating the Street estimate of $325.49 million.</p>
<p>Yelp's CEO, Jeremy Stoppelman, expressed his satisfaction with the results, highlighting the impressive achievement of nine consecutive quarters of double-digit growth. He specifically pointed out that net revenue reached a new high, driven by record advertising revenue across various categories. </p>
<p>Given the positive performance, the company raised its full-year outlook. Yelp now expects net revenue to fall within the range of $1.32 billion to $1.33 billion, and adjusted EBITDA to be in the range of $310 million to $320 million.</p>
| NYSE:YELP | https://financialmodelingprep.com/market-news/fmp-yelp-stock-surges-5-on-better-than-expected-q2-results- | Davit Kirakosyan | Financial Modeling Prep |
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Cloudflare Reports Q2 Beat, Shares Gain 6% | 2023-08-05 08:49:00 | <p><a href='https://financialmodelingprep.com/financial-summary/NET'>Cloudflare (NYSE:NET)</a> posted better-than-expected Q2 earnings, resulting in a significant 6% surge in its shares on Friday.</p>
<p>For the second quarter, the company reported earnings per share of $0.10 on revenue of $308.5 million, surpassing the Street estimate of $0.07 on revenue of $305.6 million. Sales demonstrated an impressive 32% year-over-year growth, while the adjusted gross margin came in at 77.7%, in line with Street expectations.</p>
<p>Furthermore, Cloudflare achieved a record-breaking quarter for new ACV (Annual Contract Value) bookings, indicating strong demand for its services.</p>
<p>Cloudflare sees itself uniquely positioned to become a leader in AI inferencing and has ambitious plans across the entire AI lifecycle to facilitate companies in building the future.</p>
| NYSE:NET | https://financialmodelingprep.com/market-news/fmp-cloudflare-reports-q2-beat-shares-gain-6 | Davit Kirakosyan | Financial Modeling Prep |
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Atlassian Jumps 18% Following Q2 Beat | 2023-08-04 12:46:00 | <p>Shares of <a href='https://financialmodelingprep.com/financial-summary/TEAM'>Atlassian (NASDAQ:TEAM)</a> experienced a remarkable surge of more than 18% intra-day today, following the software company's impressive Q4 results.</p>
<p>Atlassian's reported adjusted EPS stood at $0.57, with a revenue of $939.1 million. These figures surpassed analyst expectations, who had anticipated an EPS of $0.45 on revenue of $915.7 million. Notably, sales witnessed a substantial 24% year-over-year increase, with subscription revenue soaring by an impressive 34%.</p>
<p>Looking ahead, the company projects revenue for this quarter to be around $960 million. This forecast exceeds the market consensus of $953.3 million. Furthermore, Atlassian is targeting a cloud growth rate of 25-30% for the full year of 2024, a key factor driving the strength of the stock after the earnings report.</p>
| NASDAQ:TEAM | https://financialmodelingprep.com/market-news/fmp-atlassian-jumps-18-following-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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Airbnb Reports Q2 Beat, Shares Rise | 2023-08-04 12:35:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ABNB'>Airbnb (NASDAQ:ABNB)</a> shares rose more than 1% intra-day today as the company exceeded revenue expectations and provided Q3 guidance that aligns with estimates.</p>
<p>The company's Q2 EPS stood at 98 cents, with revenue amounting to $2.48 billion, showing an 18% increase compared to the previous year. Analysts had predicted earnings of 80 cents per share on revenue of $2.42 billion.</p>
<p>Airbnb's Gross Booking Value experienced a 13% rise, reaching $19.1 billion. The company achieved its highest second-quarter bookings with 115.1 million nights and experiences booked, reflecting an 11% increase compared to the same period last year. </p>
<p>Looking ahead to the third quarter, Airbnb projects revenue between $3.3 billion and $3.4 billion, surpassing market consensus. Additionally, the company expects a moderate sequential increase in year-over-year growth for nights and experiences booked from the second to the third quarter.</p>
| NASDAQ:ABNB | https://financialmodelingprep.com/market-news/fmp-airbnb-reports-q2-beat-shares-rise | Davit Kirakosyan | Financial Modeling Prep |
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DoorDash Stock Gains on Q2 Beat & Better Than Expected Outlook | 2023-08-03 15:14:00 | <p><a href='https://financialmodelingprep.com/financial-summary/DASH'>DoorDash (NYSE:DASH)</a> shares rose more than 3% intra-day today following the company's release of a full-year forecast that surpassed expectations.</p>
<p>The company reported a loss per share of $0.44 on revenue of $2.13 billion for Q2. The expected loss per share was $0.41, and revenue was projected to be $2.06 billion. The number of orders rose by 25% year-over-year, reaching 532 million. Moreover, the marketplace gross order value witnessed a significant 26% increase, reaching $16.47 billion.</p>
<p>For the current quarter, DoorDash anticipates a marketplace gross order value of $16 billion, surpassing the Street estimate of $15.4 billion. Additionally, the full-year forecast for the marketplace gross order value is now projected to be $64.7 billion, up from the previous forecast of $63.75 billion, and exceeding the Street estimate of $62.66 billion.</p>
| NYSE:DASH | https://financialmodelingprep.com/market-news/fmp-doordash-stock-gains-on-q2-beat-&-better-than-expected-outlook | Davit Kirakosyan | Financial Modeling Prep |
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Robinhood Shares Drop 6% Despite Q2 Beat | 2023-08-03 15:12:00 | <p>Despite beating expectations with a surprise profit, <a href='https://financialmodelingprep.com/financial-summary/HOOD'>Robinhood Markets (NASDAQ:HOOD)</a> experienced a decline of more than 6%.</p>
<p>The company reported earnings per share of 3 cents for the second quarter, exceeding the expected loss of 1 cent per share. Additionally, the revenue rose by 52.8% compared to the same period last year, reaching $486 million, which also surpassed the Street estimate of $472.9 million. Although the monthly active users decreased by 1.0 million from the first quarter to 10.8 million, assets under custody rose by 13% from the first quarter to $89 billion. This growth was driven by higher equity valuations and increasing deposits.</p>
<p>Furthermore, Robinhood stated that its expense outlook is improving compared to the guidance it provided with its first-quarter earnings. The company now anticipates GAAP total operating expenses for the full year 2023 to be in the range of $2.330 billion to $2.410 billion, which reflects a $45 million improvement at the midpoint of the range from its previous outlook.</p>
| NASDAQ:HOOD | https://financialmodelingprep.com/market-news/fmp-robinhood-shares-drop-6-despite-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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Etsy Stock Plunges 13% Following Q2 Earnings | 2023-08-03 15:10:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ETSY'>Etsy (NASDAQ:ETSY)</a> experienced a nearly 13% decline intra-day today after reporting Q2 earnings that fell short of expectations.</p>
<p>The company posted an EPS of 45 cents on revenue of $628.9 million. While the EPS exceeded the Street estimate of 42 cents, the revenue was slightly below the expected $618.6 million. The Gross Merchandise Value (GMV) for the quarter amounted to $3.01 billion, showing a decline of 0.6% year-over-year.</p>
<p>Despite the revenue and profit per share beating expectations, the GMV decrease caused concern among investors. However, Etsy's marketplace still achieved an all-time high in active buyers during the second quarter, which highlights the company's brand relevance and its ability to create opportunities for sellers. </p>
<p>Looking ahead to the current quarter, the company has provided guidance with a midpoint revenue projection of $627.5 million, which falls below the Street estimate of $632.4 million. Additionally, the GMV is projected to be $3.025 billion, again slightly below the Street's estimate of $3.07 billion. </p>
| NASDAQ:ETSY | https://financialmodelingprep.com/market-news/fmp-etsy-stock-plunges-13-following-q2-earnings- | Davit Kirakosyan | Financial Modeling Prep |
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Clorox Soars 9% on Strong Q4 Earnings | 2023-08-03 15:08:00 | <p>After reporting its Q4 results, <a href='https://financialmodelingprep.com/financial-summary/CLX'>Clorox (NYSE:CLX)</a> witnessed a significant surge of over 9% intra-day today. The company's earnings per share for the quarter were $1.67, which exceeded the Street estimate of $1.16.</p>
<p>Moreover, Clorox's revenue experienced a substantial growth of 12% year-over-year, reaching $2 billion, surpassing the Street estimate of $1.88 billion. This growth was primarily driven by a favorable price mix, partially offset by lower volume and unfavorable foreign exchange rates. For the full year 2024, the company has provided earnings per share outlook in the range of $5.60 to $5.90. This estimate is slightly higher than the Street estimate of $5.63. Additionally, Clorox expects its revenue to grow between 0% to 2% year-over-year. </p> | NYSE:CLX | https://financialmodelingprep.com/market-news/fmp-clorox-soars-9-on-strong-q4-earnings- | Davit Kirakosyan | Financial Modeling Prep |
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Qorvo Reports Better Than Expected Q1 Earnings | 2023-08-03 11:16:00 | <p><a href='https://financialmodelingprep.com/financial-summary/QRVO'>Qorvo (NASDAQ:QRVO)</a> reported its Q1 results, with EPS of $0.34 surpassing the Street estimate of $0.15. Furthermore, the revenue for the quarter amounted to $651 million, which exceeded the Street estimate of $640.25 million.</p>
<p>CFO Grant Brown provided positive guidance for the future, stating that they anticipate a significant sequential increase in September quarterly revenue, surpassing 50%. This growth is primarily driven by content gains at their largest customer. Additionally, they expect to achieve year-over-year revenue growth in fiscal 2024.</p>
<p>Looking ahead to Q2/24, the projected EPS is $1.75, higher than the Street estimate of $1.62. The revenue estimate for the quarter is approximately $1 billion, plus or minus $15 million, compared to the Street estimate of $959.78 million.</p>
| NASDAQ:QRVO | https://financialmodelingprep.com/market-news/fmp-qorvo-reports-better-than-expected-q1-earnings | Davit Kirakosyan | Financial Modeling Prep |
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Moderna shares rise on Q2 revenue beat | 2023-08-03 11:14:00 | <p><a href='https://financialmodelingprep.com/financial-summary/MRNA'>Moderna (NASDAQ:MRNA)</a> announced second-quarter results that surpassed expectations, even though its revenue experienced a significant decline due to decreased demand for its COVID-19 vaccine after the peak of the pandemic.</p>
<p>Q2 total revenue for the U.S. biotech company amounted to $344 million, representing a substantial 93% drop compared to the $4.75 billion recorded during the same period last year. Despite this decline, the reported revenue still exceeded the Street estimate of $321.8 million.</p>
<p>As a result of the positive earnings report, Moderna's shares saw an increase of more than 2% intra-day today.</p>
| NASDAQ:MRNA | https://financialmodelingprep.com/market-news/fmp-moderna-shares-rise-on-q2-revenue-beat | Davit Kirakosyan | Financial Modeling Prep |
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e.l.f. Beauty Stock Jumps 14% Following Impressive Q1 Results | 2023-08-02 16:00:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ELF'>e.l.f. Beauty (NYSE:ELF)</a> witnessed a remarkable 14% surge in its shares intra-day today, attributed to the company's impressive Q1 financial results and outlook.</p>
<p>The company exceeded analysts' expectations by a wide margin. The company reported a profit per share of $1.10 on revenue of $216.3 million, while the Street estimates were lower, anticipating earnings of $0.57 per share on revenue of $184.6 million. This substantial outperformance was driven by a remarkable 76% year-over-year increase in net sales, showcasing the company's robust growth. </p>
<p>Buoyed by these exceptional results and positive momentum, e.l.f. Beauty is optimistic about its future prospects. The company expressed confidence in its ability to unlock its full potential and subsequently raised its fiscal 2024 outlook. For the fiscal year 2024, the company projects earnings per share to be in the range of $2.19 to $2.22 on revenue amounting to $797 million. These forecasts significantly surpassed market consensus, which had anticipated earnings of $1.83 per share on revenue of $728 million.</p>
| NYSE:ELF | https://financialmodelingprep.com/market-news/fmp-elf-beauty-stock-jumps-14-following-impressive-q1-results- | Davit Kirakosyan | Financial Modeling Prep |
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SolarEdge Technologies Stock Plunges 18% on Weak Outlook | 2023-08-02 15:58:00 | <p><a href='https://financialmodelingprep.com/financial-summary/SEDG'>SolarEdge Technologies (NASDAQ:SEDG)</a> shares dropped more than 18% intra-day today following the release of a weaker-than-expected sales outlook for Q3.</p>
<p>In its Q2 report, SolarEdge surpassed analyst expectations for earnings per share, reporting $2.79 compared to the estimated $2.53. However, the revenue figure for the quarter came in at $991.29 million, which was in line with the consensus of $992.39 million.</p>
<p>Despite delivering strong performance in the European residential and commercial solar segments during the second quarter, the company's Q3 sales outlook fell short of market expectations. SolarEdge anticipates revenue for the current quarter to be around $900 million.</p>
| NASDAQ:SEDG | https://financialmodelingprep.com/market-news/fmp-solaredge-technologies-stock-plunges-18-on-weak-outlook | Davit Kirakosyan | Financial Modeling Prep |
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Yum! Brands Posts Q2 Beat | 2023-08-02 15:53:00 | <p><a href='https://financialmodelingprep.com/financial-summary/YUM'>Yum! Brands (NYSE:YUM)</a>, renowned for its ownership of KFC and Taco Bell, reported Q2 earnings of $1.41 per share, outperforming the analyst consensus estimate of $1.24.</p>
<p>One of the highlights of the company's report was the impressive same-store sales growth of 9%. KFC, in particular, achieved remarkable same-store sales growth of 13%, standing out as the highest among YUM's brands. This growth was notably driven by KFC's stores in China, where same-store sales soared by 32% year-over-year.</p>
<p>On the other hand, Pizza Hut's same-store sales growth of 4% was deemed disappointing by investors, despite the notable 25% increase in China. Taco Bell also experienced a 4% increase in same-store sales.</p>
| NYSE:YUM | https://financialmodelingprep.com/market-news/fmp-yum!-brands-posts-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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Paycom Software Stock Drops 18% Following Q2 Report | 2023-08-02 15:50:00 | <p><a href='https://financialmodelingprep.com/financial-summary/PAYC'>Paycom Software (NYSE:PAYC)</a> experienced an 18% decline in its shares intra-day today following the company's report of decelerating subscriber revenue growth.</p>
<p>The company reported an adjusted EPS of $1.62 on revenue amounting to $401.1 million for Q2. These figures slightly exceeded analysts' expectations, as they were anticipating a profit per share of $1.60 on revenue of $398.1 million. The company's sales experienced a year-over-year increase of 27%, indicating continued growth. However, it's worth noting that the gross margin fell by 60 basis points.</p>
<p>For the current quarter, Paycom anticipates revenue to reach $411 million, while the full-year revenue projection is set at $1.716 billion. Market consensus stood at $412 million and $1.71 billion, respectively.</p>
| NYSE:PAYC | https://financialmodelingprep.com/market-news/fmp-paycom-software-stock-drops-18-following-q2-report | Davit Kirakosyan | Financial Modeling Prep |
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Match Group Shares Gain on Q2 Beat | 2023-08-02 11:50:00 | <p><a href='https://financialmodelingprep.com/financial-summary/MTCH'>Match Group (NASDAQ:MTCH)</a> experienced a more than 3% intra-day gain today following the release of its Q2 financial results and the outlook for the current quarter.</p>
<p>In Q2, the company reported impressive figures, with adjusted earnings per share amounting to $0.48 on revenue of $830 million. These results surpassed Street expectations, which had estimated earnings of $0.44 per share on revenue of $811.36 million. The company's adjusted operating margin for the quarter stood at an impressive 36%.</p>
<p>Notably, Tinder, owned by Match Group, played a significant role in driving positive performance. Tinder's revenue witnessed a year-over-year increase of 6%, reaching $475 million. This growth was primarily driven by a notable acceleration in subscription revenue throughout the quarter. Additionally, Tinder's marketing and product initiatives contributed to improved trends in new user acquisitions and reactivations, further bolstering revenue.</p>
<p>Looking ahead to the current quarter, the company anticipates revenue to reach $880 million, surpassing market consensus, which had projected Q3 revenue to be $863.4 million. </p>
| NASDAQ:MTCH | https://financialmodelingprep.com/market-news/fmp-match-group-shares-gain-on-q2-beat- | Davit Kirakosyan | Financial Modeling Prep |
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Pinterest Upgraded to Buy Following Q2 Beat | 2023-08-02 11:48:00 | <p>Rosenblatt raised its rating on <a href='https://financialmodelingprep.com/financial-summary/PINS'>Pinterest (NYSE: PINS)</a> from Neutral to Buy and set a new price target of $35.00, up from the previous target of $27.00 following the Q2 beat yesterday.</p>
<p>According to the analysts, Pinterest is actively focusing on improving its advertising tools and implementing better AI technologies, following a similar trend seen among its peers. However, unlike Snap, which faced challenges related to AI in the second quarter of 2023, Pinterest is experiencing a substantial increase in margins. </p>
<p>The company's non-GAAP cost of sales has declined for three consecutive quarters, accounting for 23.2% of sales in Q2/23, which is down 120 basis points year-over-year. Moreover, operating expenses are expected to rise only by low single digits percentage in Q3/23 compared to the previous year, and EBITDA margins are now projected to increase by 400 basis points for the entire year, as opposed to the previously estimated 200 basis points. </p>
| NYSE:, PINS | https://financialmodelingprep.com/market-news/fmp-pinterest-upgraded-to-buy-following-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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Uber Falls 5% Following Q2 Results | 2023-08-01 15:24:00 | <p><a href='https://financialmodelingprep.com/financial-summary/UBER'>Uber (NYSE:UBER)</a> experienced more than a 5% decline in its shares intra-day today following the company’s reported Q2 results.</p>
<p>During the second quarter, Uber reported a profit per share of $0.18 on revenue, which was significantly better than the market consensus that had predicted a loss per share of $0.01. </p>
<p>Regarding gross bookings, Uber's Q2 figures amounted to $33.6 billion, with mobility bookings contributing $16.73 billion and delivery bookings contributing $15.6 billion. Both segments showed year-over-year sales growth, with mobility bookings rising by 25% and delivery bookings increasing by 12%.</p>
<p>While the company's total Q2 revenue of $9.23 billion represented a 14% year-over-year increase, it fell just short of the Street estimate of $9.34 billion.</p>
<p>For the current quarter, Uber projects gross bookings to reach $34.5 billion, plus or minus $500 million. This forecast surpasses the consensus estimate of $33.98 billion. Moreover, the company expects to report adjusted EBITDA between $975 million and $1.03 billion, which significantly outperforms the Street estimate of $919 million.</p>
| NYSE:UBER | https://financialmodelingprep.com/market-news/fmp-uber-falls-5-following-q2-results | Davit Kirakosyan | Financial Modeling Prep |
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Western Digital Reports Weak Outlook Despite Q4 Beat | 2023-08-01 15:21:00 | <p><a href='https://financialmodelingprep.com/financial-summary/WDC'>Western Digital (NASDAQ:WDC)</a> is facing challenges as it guided for a larger loss in Q1/24, despite reporting Q4 results that surpassed Wall Street estimates. </p>
<p>For Q4, Western Digital posted an adjusted loss of $1.98 per share on revenue of $2.70 billion. Wall Street analysts had predicted a slightly higher loss of $2.02 per share on revenue amounting to $2.53 billion.</p>
<p>Looking ahead to Q1, the company's guidance indicates a projected loss in the range of $1.80 to $2.10 per share, with revenue expected to fall between $2.55 billion and $2.75 billion. These estimates are below what analysts were expecting, with Street estimates predicting a loss of $1.43 per share and revenue of $2.26 billion.</p>
| NASDAQ:WDC | https://financialmodelingprep.com/market-news/fmp-western-digital-reports-weak-outlook-despite-q4-beat | Davit Kirakosyan | Financial Modeling Prep |
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Arista Networks Stock Surges 21% on Q2 Beat | 2023-08-01 15:19:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ANET'>Arista Networks (NYSE:ANET)</a> shares jumped more than 21% intra-day today following the release of better-than-expected Q2 results and guidance.</p>
<p>During the second quarter, Arista reported a profit per share of $1.58 on revenue amounting to $1.46 billion, outperforming the Street estimate of earnings at $1.44 per share on revenue of $1.38 billion. However, the company mentioned that the adjusted gross margin contracted by 60 basis points year-over-year, settling at 61.3%.</p>
<p>Looking ahead to Q3, Arista anticipates revenue to fall within the range of $1.45 billion to $1.5 billion, surpassing the Street estimate of $1.39 billion. </p>
| NYSE:ANET | https://financialmodelingprep.com/market-news/fmp-arista-networks-stock-surges-21-on-q2-beat- | Davit Kirakosyan | Financial Modeling Prep |
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Pfizer Reports Q2 Beat | 2023-08-01 15:16:00 | <p><a href='https://financialmodelingprep.com/financial-summary/PFE'>Pfizer (NYSE:PFE)</a> reported better-than-expected results for the second quarter. The pharmaceutical giant achieved a profit per share of 67 cents on revenue amounting to $12.7 billion, surpassing the Street estimate of 57 cents per share on revenue of $12.08 billion. </p>
<p>CEO Albert Bourla expressed optimism about the future, stating that they anticipate further progress in the second half of 2023. This progress will be driven by their commercial execution, scientific innovation, and unwavering commitment to providing breakthroughs for patients.</p>
<p>For the full year, Pfizer expects earnings per share to be $3.35 with revenue reaching $68.5 billion. This forecast exceeded analysts' expectations, as they were looking for earnings per share of $3.01 on revenue of $61 billion.</p>
| NYSE:PFE | https://financialmodelingprep.com/market-news/fmp-pfizer-reports-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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ZoomInfo Technologies Drops 20% on Q2 miss | 2023-08-01 10:31:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ZI'>ZoomInfo Technologies (NASDAQ:ZI)</a> experienced a sharp decline of nearly 20% pre-market today due to its weaker-than-expected revenue guidance for Q2. The company reported adjusted EPS of $0.26 with revenue amounting to $308.6 million, marking a 16% increase. However, analysts had anticipated earnings of $0.23 with revenue of $311.2 million.</p>
<p>Looking ahead to Q3, ZoomInfo predicts adjusted EPS to fall between $0.24 and $0.25, and revenue to range from $309 million to $312 million. These projections fell short of the Street estimate of $325.7 million. For the full year, ZoomInfo anticipates adjusted EPS to be in the range of $0.99 to $1, and revenue to be between $1.225 billion and $1.235 billion. Furthermore, the company's board approved an additional share repurchase of $500 million.</p>
| NASDAQ:ZI | https://financialmodelingprep.com/market-news/fmp-zoominfo-technologies-drops-20-on-q2-miss | Davit Kirakosyan | Financial Modeling Prep |
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JetBlue Airways Stock Dropped 6% Following Q2 Earnings | 2023-08-01 10:25:00 | <p><a href='https://financialmodelingprep.com/financial-summary/JBLU'>JetBlue Airways (NASDAQ:JBLU)</a> shares dropped more than 6% intraday today following the company’s disappointing full-year profit forecast. In the second quarter, the carrier reported a profit per share of $0.45, slightly surpassing the Street estimate of $0.44. However, its revenue came in at $2.6 billion, just shy of the $2.61 billion target expected by analysts.</p>
<p>JetBlue's CEO Robin Hayes attributed this success to record quarterly revenues and strong operational performance, which were the results of significant investments and thorough preparations for the peak summer travel period.</p>
<p>Despite the positive performance in the second quarter, the company's full-year earnings per share guidance fell considerably short of expectations, ranging from $0.05 to $0.40. This stands in stark contrast to the consensus estimate of $0.78. This soft guidance was attributed to "near-term headwinds," indicating challenges and uncertainties the company is currently facing.</p>
| NASDAQ:JBLU | https://financialmodelingprep.com/market-news/fmp-jetblue-airways-stock-dropped-6-following-q2-earnings- | Davit Kirakosyan | Financial Modeling Prep |
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Coursera Shares Surge 17% on Q2 Revenue Beat & Raised Guidance | 2023-07-31 16:14:00 | <p><a href='https://financialmodelingprep.com/financial-summary/COUR'>Coursera (NYSE:COUR)</a> shares jumped more than 17% on Friday after the company announced better-than-expected revenue figures for the second quarter, leading to an upward revision in its outlook.</p>
<p>While the company reported a second-quarter loss per share of $0.21, which was worse than the expected loss of $0.10, its revenue showed impressive growth, rising by 23% year-over-year to reach $153.7 million. This revenue figure surpassed the Street estimate of $145.86 million.</p>
<p>For the ongoing quarter, Coursera anticipates revenue to be around $158 million, surpassing the market's expectation of $153.5 million for Q3 revenue. Moreover, the company has raised its full-year revenue projection to $620 million, up from the previous forecast of $605 million, and also beating the Street estimate of $607.9 million.</p>
| NYSE:COUR | https://financialmodelingprep.com/market-news/fmp-coursera-shares-surge-17-on-q2-revenue-beat-&-raised-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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SoFi Technologies Stock Jumps 20% on Q2 Beat | 2023-07-31 16:11:00 | <p><a href='https://financialmodelingprep.com/financial-summary/SOFI'>SoFi Technologies (NASDAQ:SOFI)</a> shares jumped more than 20% intra-day today following the digital lender's second-quarter results, which surpassed expectations. </p>
<p>The company reported a loss per share of $0.06, which was slightly better than the Street estimate of a loss per share of $0.07. Furthermore, its adjusted revenue witnessed a 37% year-over-year increase, amounting to $488.8 million, beating the Street estimate of $475.9 million.</p>
<p>Looking ahead, SoFi expects to generate adjusted net revenue of $1.025 billion to $1.085 billion in the second half of 2023, representing a year-over-year growth of 19% to 26%. Additionally, it foresees $180-190 million of adjusted EBITDA during the same period.</p>
<p>For the full year 2023, SoFi has raised its outlook, expecting adjusted net revenue to be in the range of $1.974 billion to $2.034 billion, up from the prior guidance of $1.955 billion to $2.02 billion. </p>
| NASDAQ:SOFI | https://financialmodelingprep.com/market-news/fmp-sofi-technologies-stock-jumps-20-on-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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Ford Downgraded at Jefferies | 2023-07-31 16:08:00 | <p>Jefferies downgraded <a href='https://financialmodelingprep.com/financial-summary/F'>Ford (NYSE:F)</a> from a Buy to a Hold rating and lowered their price target on the stock from $17.00 to $15.00. The decision came after Ford reported worse-than-expected losses in the electric vehicle (EV) segment and revised down their guidance for the Model e.</p>
<p>The analysts mentioned that while they appreciate Ford's efforts in disclosure and accountability, there seems to be no apparent change in the mid-term strategy. The focus on Gen 2 being software-centric and a concentrated line-up makes sense, but it will only become effective in 2026, leaving a less differentiated investment case in the years leading up to that point.</p>
<p>Ford updated its adjusted EBIT forecast to be in the range of $11-13 billion, which surpassed Jefferies' previous predictions of $9-11 billion. In response to the positive performance in H1 at Blue and the momentum at Pro, which outweighed the guided $1.5 billion deterioration in Model e, Jefferies raised its estimates to $11.9 billion, reflecting a 10% increase.</p>
| NYSE:F | https://financialmodelingprep.com/market-news/fmp-ford-downgraded-at-jefferies- | Davit Kirakosyan | Financial Modeling Prep |
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Wayfair Shares Surge 5% on Piper Sandler Upgrade | 2023-07-31 16:04:00 | <p><a href='https://financialmodelingprep.com/financial-summary/W'>Wayfair (NYSE:W)</a> experienced a more than 5% increase intra-day today following an upgrade from Piper Sandler. The analysts raised the stock's rating to Overweight from Neutral and set a new price target of $97.</p>
<p>The upgrade was based on several key factors. First, the Q2 Furniture Retailer survey indicated that the home furnishings industry is stabilizing, leading to improved sales and regained market share for Wayfair. </p>
<p>Second, suppliers' feedback after Wayfair's Supplier Summit in June was highly positive, indicating increased confidence in using Wayfair's services like CastleGate and advertising, which is crucial for the company's gross margin expansion. </p>
<p>Moreover, the analysts expressed confidence in Wayfair's potential to achieve sustained EBITDA profitability. The upcoming Investor Day on August 10 is expected to further enhance investors' confidence in the company's future profitability prospects.</p>
| NYSE:W | https://financialmodelingprep.com/market-news/fmp-wayfair-shares-surge-5-on-piper-sandler-upgrade | Davit Kirakosyan | Financial Modeling Prep |
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ON Semi Stock Gains 3% on Q2 Beat | 2023-07-31 11:30:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ON'>ON Semi (NASDAQ:ON)</a> shares experienced an intra-day increase of more than 3% following the company's second-quarter earnings report, which surpassed Street expectations.</p>
<p>The reported adjusted EPS of $1.33 on revenue of $2.09 billion exceeded the earnings forecast of $1.21 on revenue of $2.02 billion. CEO Hassane El-Khoury expressed satisfaction with the results, noting that the company delivered another outstanding quarter, surpassing revenue and earnings per share guidance. The growth in the automotive and industrial sectors contributed to the positive performance, showcasing the effectiveness of the company's operational excellence and winning strategy even amid a challenging macroeconomic environment.</p>
<p>Looking ahead to the third quarter, the company projects an EPS of $1.28 on revenue of $2.15 billion. This forecast exceeds analysts' predictions, who were expecting earnings of $1.21 per share on sales of $2.1 billion.</p>
| NASDAQ:ON | https://financialmodelingprep.com/market-news/fmp-on-semi-stock-gains-3-on-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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Carvana Receives a Downgrade From Jefferies | 2023-07-31 11:21:00 | <p><a href='https://financialmodelingprep.com/financial-summary/CVNA'>Carvana (NYSE:CVNA)</a> was downgraded by Jefferies analysts, who expressed skepticism about the company's current situation and asserted that Wall Street's estimates are overly optimistic.</p>
<p>The analysts downgraded their rating from Hold to Underperform and significantly lowered the price target from $55 to $30 per share. The analysts' rationale for the downgrade lies in the belief that the consensus is overestimating the sustainability of the recent surge in profitability, which the analysts attribute to temporary tailwinds that are expected to diminish in the upcoming quarters. Despite assuming that per unit economics will remain better than pre-pandemic levels, the analysts’ revised 2024 GPU/EBITDA estimates are considerably lower than the Street's projections.</p>
| NYSE:CVNA | https://financialmodelingprep.com/market-news/fmp-carvana-receives-a-downgrade-from-jefferies | Davit Kirakosyan | Financial Modeling Prep |
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Intel Shares Gains 5% Following Better Than Expected Q2 Earnings | 2023-07-28 12:45:00 | <p><a href='https://financialmodelingprep.com/financial-summary/INTC'>Intel (NASDAQ:INTC)</a> stock rose more than 5% intra-day today after the company reported its Q2 results, which exceeded expectations. Despite a 15% year-over-year decline, Intel's revenue of $12.9 billion surpassed the Street estimate of $12.09 billion. Additionally, the company's EPS of $0.13 was better than the expected loss per share of $0.04.</p>
<p>CEO Pat Gelsinger expressed satisfaction with the Q2 results and highlighted the company's focus on executing strategic priorities, including their foundry business and product roadmaps.</p>
<p>For Q3, Intel offered a positive outlook, expecting revenue in the range of $12.9 billion to $13.9 billion, with an adjusted EPS of $0.20, higher than the Street expectations of $0.13 per share.</p>
| NASDAQ:INTC | https://financialmodelingprep.com/market-news/fmp-intel-shares-gains-5-following-better-than-expected-q2-earnings- | Davit Kirakosyan | Financial Modeling Prep |
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Enphase Energy Stock Drops 10% on Disappointing Revenue Outlook | 2023-07-28 12:38:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ENPH'>Enphase Energy (NASDAQ:ENPH)</a> encountered a significant decline of more than 10% intra-day today due to the company's disappointing revenue forecast for Q3.</p>
<p>In Q2, Enphase reported an adjusted EPS of $1.47 with revenue amounting to $711.1 million. Although the EPS exceeded the Street estimate of $1.27, the revenue figure fell short of the expected $725.5 million. </p>
<p>For the current quarter, Enphase projected revenues within the range of $550 million to $600 million, which is significantly below the Street estimate of $748 million. </p>
<p>In response to the disappointing results, at least two Wall Street analysts downgraded their rating on Enphase Energy shares. Wells Fargo downgraded the stock from Overweight to Equal Weight and adjusted the price target to $171.00 from $230.00. Similarly, Deutsche Bank downgraded the stock from Buy to Hold and lowered the price target to $165.00 from $200.00.</p>
| NASDAQ:ENPH | https://financialmodelingprep.com/market-news/fmp-enphase-energy-stock-drops-10-on-disappointing-revenue-outlook | Davit Kirakosyan | Financial Modeling Prep |
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McDonald's Posts Q2 Beat | 2023-07-28 12:25:00 | <p><a href='https://financialmodelingprep.com/financial-summary/MCD'>McDonald's (NYSE:MCD)</a> reported its Q2 results yesterday, delivering impressive results both in revenue and earnings, driven by robust same-store sales.</p>
<p>During the quarter, global comparable sales soared by 11.7%, surpassing the Street estimate of an 8.88% increase. The U.S. market saw a notable rise in comparable sales of 10.3%, while the International Operated Markets segment and the International Developmental Licensed Markets segment exhibited even stronger growth at 11.9% and 14.0%, respectively.</p>
<p>The company attributed the U.S. sales gains to the implementation of strategic menu price increases and an increase in positive guest counts, which contributed to the overall strong performance.</p>
<p>Regarding earnings, McDonald's reported a significant surge of 97% in EPS to $3.15, surpassing the Street estimate of $2.75. Additionally, revenues showed an impressive 14% growth in constant currencies, reaching $6.5 billion, exceeding the Street estimate of $6.29 billion.</p>
| NYSE:MCD | https://financialmodelingprep.com/market-news/fmp-mcdonalds-posts-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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First Solar Posts Q2 Beat, Announces $1.1B Factory Investment Plan | 2023-07-28 12:10:00 | <p><a href='https://financialmodelingprep.com/financial-summary/FSLR'>First Solar (NASDAQ:FSLR)</a> reported its Q2 results, which surpassed analyst expectations. The company's EPS for the quarter came in at $1.59, significantly exceeding the Street estimate of $1.00. Additionally, First Solar's revenue reached $811 million, which also beat the Street estimate of $722.21 million.</p>
<p>Looking ahead to the full year 2023, First Solar anticipates EPS within the range of $7.00 to $8.00, compared to the Street estimate of $7.22. The company's revenue forecast of $3.4 billion to $3.6 billion is in line with market expectations, which were set at $3.48 billion.</p>
<p>In addition to strong financial performance, First Solar announced its plan to invest up to $1.1 billion in establishing a new, fully vertically integrated manufacturing facility in the United States. This facility will be the company's fifth in the country.</p>
| NASDAQ:FSLR | https://financialmodelingprep.com/market-news/fmp-first-solar-posts-q2-beat-announces-$11b-factory-investment-plan | Davit Kirakosyan | Financial Modeling Prep |
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Roku Stock Surges 9% After Reporting Q2 Beat | 2023-07-28 08:04:00 | <p><a href='https://financialmodelingprep.com/financial-summary/ROKU'>Roku (NASDAQ:ROKU)</a> witnessed a substantial surge of more than 9% in pre-market today following its Q2 earnings report, which exceeded Street expectations.</p>
<p>The company's financials for Q2 revealed a loss per share of $0.76, accompanied by revenue of $847.2 million. These figures were notably better than the Street estimates, which projected a loss per share of $1.27 on revenue of $773 million. </p>
<p>In a shareholder letter, Roku expressed optimism about improvements in certain advertising verticals, leading to moderate year-over-year growth in Platform revenue during Q2. The company believes it is well-positioned to regain growth momentum as the advertising market continues to recover. Roku is actively managing its operating expenses' year-over-year growth rate and is committed to achieving positive Adjusted EBITDA for the entire year 2024.</p>
<p>Looking ahead, Roku has set a positive outlook for Q3, anticipating revenue of $815 million, which surpasses the expected $810 million. </p>
| NASDAQ:ROKU | https://financialmodelingprep.com/market-news/fmp-roku-stock-surges-9-after-reporting-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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Deckers Brands Reports Q1 Beat, But Shares Fall | 2023-07-28 07:55:00 | <p>Despite reporting better-than-expected Q1 earnings, <a href='https://financialmodelingprep.com/financial-summary/DECK'>Deckers Brands (NYSE:DECK)</a> shares fell around 2% in pre-market today.</p>
<p>In Q1, the company's EPS exceeded expectations, coming in at $2.41 compared to the Street estimate of $2.13. Furthermore, revenue showed solid growth, reaching $676 million, a 10% increase compared to the Street estimate of $661.28 billion.</p>
<p>Wholesale net sales for the quarter amounted to $425.4 million, slightly lower than the $429.4 million reported in the same period last year. However, Direct-to-Consumer (DTC) net sales demonstrated remarkable growth, surging 35.3% year-over-year to $250.4 million.</p>
<p>Looking ahead, the company anticipates full-year EPS for 2024 to fall within the range of $21.75 to $22.25, compared to the Street estimate of $22.21. Net sales are now projected to be approximately $3.980 billion.</p>
| NYSE:DECK | https://financialmodelingprep.com/market-news/fmp-deckers-brands-reports-q1-beat-but-shares-fall | Davit Kirakosyan | Financial Modeling Prep |
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Boeing Gains on Q2 Beat, BofA Upgrades to Buy | 2023-07-27 13:06:00 | <p>Bank of America analysts expressed optimism about <a href='https://financialmodelingprep.com/financial-summary/BA'>Boeing (NYSE:BA)</a>, stating that the worst is behind the company. As a result, the analysts upgraded the stock's rating from Neutral to Buy.</p>
<p>Following the release of Boeing's second-quarter results, shares in the aerospace and defense giant experienced a substantial surge of more than 8% on Wednesday. The company reported revenue of $19.75 billion, surpassing the Street's expectations of $18.49 billion. Even more promisingly, Boeing announced that it generated $2.58 billion in adjusted free cash flow, while analysts had predicted outflows of $73.6 million.</p>
<p>BofA particularly emphasized the strong demand for Boeing's planes, noting they believe that the company can continue to grow, even if it maintains its approximate 40% share of the narrowbody market. Additionally, analysts expect the Boeing 787 to remain the preferred choice in the widebody market, holding the majority of the market share compared to its competitors.</p>
| NYSE:BA | https://financialmodelingprep.com/market-news/fmp-boeing-gains-on-q2-beat-bofa-upgrades-to-buy | Davit Kirakosyan | Financial Modeling Prep |
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Mattel Reports Q2 Beat, Shares Surge | 2023-07-27 13:02:00 | <p><a href='https://financialmodelingprep.com/financial-summary/MAT'>Mattel (NASDAQ:MAT)</a> shares gained more than 3% intra-day today following the release of the company's second-quarter results. For the quarter, Mattel reported adjusted EPS of $0.10 on revenue of $1.09 billion. These results surpassed the expectations of analysts who had anticipated a loss per share of $0.04 on revenue of $998 million. However, it is worth noting that revenue experienced a 12% year-over-year decline, primarily due to a 6% drop in Barbie sales, which amounted to $282.7 million.</p>
<p>Despite the overall revenue decline, there was some positive growth in the total dolls gross billings, which rose by nearly 10% to $440.5 million. Nevertheless, the company has yet to fully capitalize on the ongoing Barbie frenzy, as it did not result in a more substantial financial boost during this quarter.</p>
| NASDAQ:MAT | https://financialmodelingprep.com/market-news/fmp-mattel-reports-q2-beat-shares-surge | Davit Kirakosyan | Financial Modeling Prep |
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Align Technology Jumps 17% Following Q2 Earnings | 2023-07-27 12:56:00 | <p>Following the release of its Q2 results, <a href='https://financialmodelingprep.com/financial-summary/ALGN'>Align Technology (NASDAQ:ALGN)</a> experienced a significant stock price surge of more than 17% intro-day today. The company reported an EPS of $2.22, surpassing the Street estimate of $2.04.</p>
<p>In terms of revenue, Align Technology achieved a year-over-year growth of 3.3%, reaching $1 billion, which exceeded the Street estimate of $992.76 million.</p>
<p>Notably, in the second quarter, Clear Aligner revenues experienced a year-over-year growth of 4.3%, amounting to $832.7 million. The volume of Clear Aligner cases reached 604,400, representing a 0.9% increase compared to the previous year.</p>
<p>For the upcoming Q3/23, the company anticipates revenue to fall within the range of $990 million to $1.01 billion, slightly higher than the Street estimate of $990 million. Align Technology projects full-year revenue to be in the range of $3.97 billion to $3.99 billion, surpassing the Street estimate of $3.94 billion.</p>
| NASDAQ:ALGN | https://financialmodelingprep.com/market-news/fmp-align-technology-jumps-17-following-q2-earnings | Davit Kirakosyan | Financial Modeling Prep |
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Western Union Stock Surges 5% After Q2 Beat | 2023-07-27 12:44:00 | <p><a href='https://financialmodelingprep.com/financial-summary/WU'>Western Union (NYSE:WU)</a> witnessed more than a 5% increase in its shares during early Thursday trading following the release of its Q2 results. The company reported an EPS of $0.51, surpassing the Street estimate of $0.39.</p>
<p>Western Union saw a 3% year-over-year growth in revenue (or 9% on a constant currency basis), reaching $1.17 billion, which exceeded the Street estimate of $1.04 billion.</p>
<p>CEO Devin McGranahan attributed the growth in customer-to-customer transactions to the success of their branded digital go-to-market program. </p>
<p>Based on the strong business performance in Iraq, the company has raised its fiscal 2023 revenue and EPS outlook. The updated projections now indicate an EPS range of $1.63 to $1.73 (compared to the previous range of $1.53-$1.63), which is above the Street estimate of $1.62. Furthermore, the revenue growth outlook for 2023 has been revised to be in the range of (5%)-(3%), an improvement from the previous range of (9%)-(7%).</p>
| NYSE:WU | https://financialmodelingprep.com/market-news/fmp-western-union-stock-surges-5-after-q2-beat | Davit Kirakosyan | Financial Modeling Prep |
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eBay Plummets 5% on Weak Guidance | 2023-07-27 08:59:00 | <p><a href='https://financialmodelingprep.com/financial-summary/EBAY'>eBay (NASDAQ:EBAY)</a> shares plunged more than 5% pre-market today after the company reported a Q2 EPS beat, but missed the guidance for Q3. Q2 EPS came in at $1.03, above the consensus estimate of $0.99. Revenue was $2.5 billion, roughly in-line with expectations.</p>
<p>However, the company faced a 2% decline in gross merchandise volume, amounting to $18.2 billion.</p>
<p>Looking ahead to Q3, eBay provided guidance with adjusted EPS expected to fall within the range of $0.96 to $1.01, and revenue predicted to be between $2.46 billion and $2.52 billion. These projections were below Wall Street's estimates, which had expected adjusted EPS of $1.02 on revenue of $2.47 billion.</p>
| NASDAQ:EBAY | https://financialmodelingprep.com/market-news/fmp-ebay-plummets-5-on-weak-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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Southwest Airlines Stock Drops 5% Following Q2 Earnings | 2023-07-27 08:58:00 | <p><a href='https://financialmodelingprep.com/financial-summary/LUV'>Southwest Airlines (NYSE:LUV)</a> shares dropped more than 5% pre-market today following the release of its Q2 financial results. The company's EPS for the quarter stood at $1.09, aligning with the Street estimate. Moreover, revenue showed a year-over-year increase of 4.6% to reach $7.04 billion, surpassing the Street forecast of $6.98 billion.</p>
<p>However, the load factor, which measures the percentage of seats filled on flights, came in weaker than anticipated at 83.4%, compared to the consensus expectation of 85.2%. This factor could potentially explain the drop in share value after the earnings report.</p>
<p>Looking ahead, based on the current revenue and cost trends, Southwest Airlines anticipates achieving record operating revenue and a positive outlook for Q3/23. Additionally, the company expects year-over-year margin expansion for the entire year of 2023.</p>
| NYSE:LUV | https://financialmodelingprep.com/market-news/fmp-southwest-airlines-stock-drops-5-following-q2-earnings | Davit Kirakosyan | Financial Modeling Prep |
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Target’s Rating Slashed to Market Perform at Raymond James | 2023-07-26 12:21:00 | <p>Raymond James revised <a href='https://financialmodelingprep.com/financial-summary/TGT'>Target's (NYSE:TGT)</a> rating from Strong Buy to Market Perform. This decision comes in anticipation of Target's Q2/23 earnings report scheduled on August 16. The analysts’ reasoning for this change is based on observations of QTD sales and traffic trends, which have remained sluggish since a decline early in the quarter. </p>
<p>This suggests that Target is experiencing a slowdown in overall revenue growth. Furthermore, there are indications that consumer discretionary spending, especially for Target's product mix, was weak during Q2, which could lead to a more competitive promotional environment and a shift in product mix, thus postponing Target's margin recovery prospects.</p>
| NYSE:TGT | https://financialmodelingprep.com/market-news/fmp-target’s-rating-slashed-to-market-perform-at-raymond-james | Davit Kirakosyan | Financial Modeling Prep |
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Teladoc Shares Surge 7% Following Q2 Earnings & Improved Outlook | 2023-07-26 12:05:00 | <p><a href='https://financialmodelingprep.com/financial-summary/TDOC'>Teladoc (NYSE:TDOC)</a> shares jumped more than 7% in pre-market today following the company's announced Q2 results and an improved full-year outlook.</p>
<p>In its second-quarter results, Teladoc reported a 10% rise in revenue, reaching $652.4 million, which exceeded the Street estimate of $649.2 million. The reported loss per share for the quarter was $0.40, in line with the Street forecast of a loss per share of $0.41.</p>
<p>The company attributes this positive performance to several factors, including the introduction and expansion of new products and services, investments in innovation, expense control, and the integration of virtual and in-person healthcare experiences, which align with customer demand.</p>
<p>The updated full-year forecast now projects revenue to be $2.64 billion. This is slightly higher than the previous forecast and guidance of $2.63 billion. Additionally, Teladoc has revised its projected loss per share for the year to be in the range of $1.25 to $1.60, which is an improvement compared to the earlier forecast of $1.25 to $1.70 loss per share.</p>
<p>For Q3, Teladoc anticipates a loss per share of $0.45 on revenue of $662.5 million. This projection is slightly below the Street estimate for a loss per share of $0.33 on revenue of $664 million.</p>
| NYSE:TDOC | https://financialmodelingprep.com/market-news/fmp-teladoc-shares-surge-7-following-q2-earnings-&-improved-outlook | Davit Kirakosyan | Financial Modeling Prep |
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Tenable Reports Q2 Beat, Shares Jump 11% | 2023-07-26 12:00:00 | <p><a href='https://financialmodelingprep.com/financial-summary/TENB'>Tenable (NASDAQ:TENB)</a> reported better-than-expected Q2 results, leading to more than an 11% increase in its share price in pre-market today.</p>
<p>During the second quarter, Tenable posted a profit per share of $0.22 on revenue of $195 million, surpassing the Street estimates for earnings of $0.13 on revenue of $190.26 million. The company also reported a 15% year-over-year increase in billings, with calculated billings exceeding $200 million.</p>
<p>Looking ahead, for the current quarter, Tenable forecasts EPS in the range of $0.18 to $0.19 on revenue of $198 million. This outlook exceeded Street expectations of $0.16 EPS on sales of $195.9 million.</p>
<p>For the full year 2023, Tenable's projected EPS is $0.67 on revenue of $787 million. This outlook also surpasses the Street estimates of $0.59 EPS on revenue of $781 million.</p>
| NASDAQ:TENB | https://financialmodelingprep.com/market-news/fmp-tenable-reports-q2-beat-shares-jump-11 | Davit Kirakosyan | Financial Modeling Prep |
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AT&T Posts Q2 EPS Beat, While Revenues Miss Expectations | 2023-07-26 11:48:00 | <p><a href='https://financialmodelingprep.com/financial-summary/T'>AT&T (NYSE:T)</a> reported its Q2 results today. The company posted an EPS of $0.63, which was higher than the Street estimate of $0.60. However, the revenue for the quarter was $29.92 billion, slightly missing the Street estimate of $30.01 billion.</p>
<p>Despite the revenue miss, AT&T's mobility revenue still showed growth, rising 2% year-over-year to reach $20.3 billion. However, this figure was below the market's expectations of $20.45 billion. The company also generated $4.2 billion in free cash flow during the second quarter.</p>
<p>AT&T's CEO, John Stankey, conveyed optimism regarding the company's path and progress. He highlighted the growth in mobility service and broadband revenues compared to the previous year, along with an increase in adjusted EBITDA, free cash flow, and margins in the mobility and consumer wireline segments. Moreover, there was a noticeable rise in customer lifetime values.</p>
| NYSE:T | https://financialmodelingprep.com/market-news/fmp-at&t-posts-q2-eps-beat-while-revenues-miss-expectations | Davit Kirakosyan | Financial Modeling Prep |
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Texas Instruments Shares Drop 4% on Disappointing Guidance | 2023-07-26 09:36:00 | <p><a href='https://financialmodelingprep.com/financial-summary/TXN'>Texas Instruments (NASDAQ:TXN)</a> reported its Q2 results, which led to more than a 4% drop in its share price during pre-market trading today.</p>
<p>The Q2 earnings showed better-than-expected performance with an EPS of $1.87 and revenue of $4.53 billion. Despite the positive earnings report, the revenue was still down by 13% year-over-year. The consensus estimates were surpassed, with analysts expecting an EPS of $1.76 and revenue of $4.37 billion.</p>
<p>However, the reason for the share price decline is due to the company's Q3 guidance missing expectations. Texas Instruments provided a less optimistic outlook for the upcoming quarter. The CEO, Haviv Ilan, mentioned that there was weakness across most end markets except for the automotive sector.</p>
<p>The Q3/23 guidance for Texas Instruments includes an EPS range of $1.68 to $1.92, which is below the Street estimate of $1.91. Additionally, the revenue guidance for Q3 is expected to be in the range of $4.36 billion to $4.74 billion, falling short of the Street estimate of $4.6 billion.</p>
| NASDAQ:TXN | https://financialmodelingprep.com/market-news/fmp-texas-instruments-shares-drop-4-on-disappointing-guidance- | Davit Kirakosyan | Financial Modeling Prep |
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Coca-Cola Reports Better Than Expected Q2 Earnings | 2023-07-26 09:29:00 | <p><a href='https://financialmodelingprep.com/financial-summary/KO'>Coca-Cola (NYSE:KO)</a> reported its Q2 earnings today, beating the Street estimates. The company reported an EPS of $0.78, which is higher than the analyst estimate of $0.72. Additionally, the revenue for the quarter was $12 billion, surpassing the consensus estimate of $11.73 billion.</p>
<p>As a result of its strong performance, Coca-Cola has raised its adjusted organic revenue forecast for the full year. The company now expects to achieve organic revenue growth of 8% to 9% for the fiscal 2023.</p>
<p>However, it's worth noting that the company anticipates facing some challenges as well. Coca-Cola expects commodity price inflation to be a headwind on the comparable cost of goods sold, which is likely to be in the mid-single-digit percentage range. </p>
| NYSE:KO | https://financialmodelingprep.com/market-news/fmp-coca-cola-reports-better-than-expected-q2-earnings- | Davit Kirakosyan | Financial Modeling Prep |
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Spotify Shares Drop 5% Despite Q2 MAUs Beat | 2023-07-25 12:23:00 | <p>Despite reporting higher-than-expected monthly active users (MAUs) for Q2, <a href='https://financialmodelingprep.com/financial-summary/SPOT'>Spotify (NYSE:SPOT)</a> saw a more than 5% decline in its shares pre-market today.</p>
<p>The company's financial results for the quarter showed a loss per share of €1.55 on revenue of €3.18 billion, which fell short of the Street estimates for a loss per share of €0.65 on revenue of €3.21 billion.</p>
<p>In a press release, Spotify expressed that the business performed remarkably well in Q2, driven by exceptionally strong MAU and Subscriber results. The company's MAUs increased by 27% year-over-year to reach 551 million, surpassing the Street expectations of 529.9 million.</p>
<p>Spotify's total subscribers at the end of Q2 amounted to 220 million, exceeding the consensus projection of 217.1 million. For the current quarter, the company expects MAUs to reach 572 million, surpassing the guidance of 548 million. However, Q3 revenue is anticipated to be €3.3 billion, falling short of the expected €3.42 billion. </p>
| NYSE:SPOT | https://financialmodelingprep.com/market-news/fmp-spotify-shares-drop-5-despite-q2-maus-beat | Davit Kirakosyan | Financial Modeling Prep |
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Verizon Communications Stock Gains on Q2 EPS Beat | 2023-07-25 12:13:00 | <p><a href='https://financialmodelingprep.com/financial-summary/VZ'>Verizon Communications (NYSE:VZ)</a> reported better-than-expected profit figures for Q2, leading to more than a 2% increase in its shares in pre-market today.</p>
<p>The company's EPS stood at $1.21, surpassing the Street estimate of $1.17. However, revenue came in at $32.6 billion, slightly below the Street estimate of $33.35 billion.</p>
<p>Verizon's CEO Hans Vestberg stated that they made progress in their key priorities, which include growing wireless service revenue, achieving healthy consolidated adjusted EBITDA, and increasing free cash flow.</p>
<p>For the full year, Verizon anticipates wireless service revenue growth between 2.5% to 4.5%. The company reaffirmed its full-year EPS forecast of $4.70, while the Street was expecting $4.67.</p>
<p>Moreover, Verizon maintains its capital expenditure projection of $18.25 billion to $19.25 billion, which is slightly ahead of the estimated $18.82 billion.</p>
| NYSE:VZ | https://financialmodelingprep.com/market-news/fmp-verizon-communications-stock-gains-on-q2-eps-beat | Davit Kirakosyan | Financial Modeling Prep |
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Goldman Sachs Slashed to Neutral at Citi | 2023-07-25 12:10:00 | <p><a href='https://financialmodelingprep.com/financial-summary/GS'>Goldman Sachs (NYSE:GS)</a> was downgraded by Citi analysts, who cited an inflated valuation. The stock was downgraded from Buy to Neutral with a price target of $400 (from $370). The decision was based on Goldman Sachs trading at approximately 1.3x tangible book value (TBV), which slightly exceeds its historical multiple. According to the analysts, this indicates a balanced risk/reward at the current levels, prompting the downgrade to Neutral.</p>
<p>During its last analyst day, Goldman Sachs presented a 15-17% Return on Tangible Common Equity (ROTCE) target and various Key Performance Indicators (KPIs) for progress tracking. The recent Q2/23 results demonstrated ongoing progress on these KPIs, although the adjusted return was a modest 9%. The analysts believe that achieving the ROTCE target is feasible but will require time and a more favorable investment banking environment.</p>
| NYSE:GS | https://financialmodelingprep.com/market-news/fmp-goldman-sachs-slashed-to-neutral-at-citi | Davit Kirakosyan | Financial Modeling Prep |