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AptarGroup’s Q3 Results Review

2021-11-01 22:51:00

<p><a href='https://financialmodelingprep.com/financial-summary/ATR'>AptarGroup, Inc. (NYSE:ATR) </a>reported its Q3 results last week, with revenue growing 9% year-over-year to $825 million.</p> <p>According to the analysts at Deutsche Bank, the results were below expectations driven by Pharma as the destocking issue in prescription continues to hinder earnings. While it is unclear when the issue will be resolved, the company mentioned positive signs in its consumer healthcare end market. The analysts expect the destocking to continue into Q4 and somewhat into Q1/22. The next quarter’s outlook implies a sequential decline in earnings due to the business mix in the Pharma segment, unfavorable currency, rising inflation and supply chain disruptions.</p> <p>Analysts at Deutsche Bank lowered their price target on the company’s shares to $148 from $158, while maintaining their buy rating as they believe the Pharma business is undervalued and the company should continue to see recovery in beauty.</p>

NYSE:ATR

https://financialmodelingprep.com/market-news/fmp-aptargroup’s-q3-results-review

Davit Kirakosyan

Financial Modeling Prep

Rapid7, Inc Q3 Preview by RBC Capital

2021-11-01 22:45:00

<p>Analysts at RBC Capital provided their views on <a href='https://financialmodelingprep.com/financial-summary/RPD'>Rapid7, Inc. (NASDAQ:RPD) </a>ahead of upcoming Q3 results, expecting the company to post strong earnings (outperforming Street’s revenue/ARR estimates of $134million/$527million) driven by an ongoing benefit of security transformation as a precursor to digital transformation and broad interest and need for automation.</p> <p>According to the brokerage, the company’s full 2021-year guidance of 33% ARR growth including IntSights, which is significantly above the 20% guidance to start the year, still remains conservative as it continues to see the company well-positioned with several short-term and long-term tailwinds. The analysts increased their price target on the company’s shares to $150 from $138, reiterating their outperform rating.</p>

NASDAQ:RPD

https://financialmodelingprep.com/market-news/fmp-rapid7-inc-q3-preview-by-rbc-capital

Davit Kirakosyan

Financial Modeling Prep

Insmed Incorporated Review Following Q3 Results

2021-11-01 22:42:00

<p><a href='https://financialmodelingprep.com/financial-summary/INSM'>Insmed Incorporated (NASDAQ:INSM) </a>reported its Q3 results last week, with disappointing revenues providing more evidence of the continuous slowdown due to the delta variant. ARIKAYCE Q3 revenue, primarily impacted by the regional variability of the delta variant, was 4% and 9% shy of consensus estimates. R&D spending was higher due to the ongoing clinical studies.</p> <p>Analysts at Berenberg Bank believe that the performance has been overall positive despite pandemic-related headwinds. The analysts remain positive on the long-term growth prospects for Insmed, anticipating a recovery in Q4 and beyond.</p>

NASDAQ:INSM

https://financialmodelingprep.com/market-news/fmp-insmed-incorporated-review-following-q3-results

Davit Kirakosyan

Financial Modeling Prep

Petition Started to List Shiba Inu on Robinhood Platform

2021-10-29 15:11:00

<p>SHIB supporter Tristan Luke started a petition to list Shiba Inu on Robinhood, mentioning that it is a meme coin similar to Dogecoin, which was a huge success for the platform. According to Robinhood, dogecoin made up 62% of its crypto trading volume in Q2, up from 34% in the previous quarter.</p> <p>The petition, which has already gained 413,000 signatures on Change.com, may become one of the top signed petitions on Change.org, in case it manages to reach 500,000 signatures.</p>

SHIBUSD

https://financialmodelingprep.com/market-news/fmp-petition-started-to-list-shiba-inu-on-robinhood-platform

Davit Kirakosyan

Financial Modeling Prep

Apple Reported Strong Q4 Results, But Supply Constraints Worse Than Expected

2021-10-29 14:16:00

<p><a href='https://financialmodelingprep.com/financial-summary/AAPL'>Apple Inc. (NASDAQ:AAPL) </a>reported record Q4 results, with Mac and Services at all-time highs, and other categories reaching an FQ4 high. Quarterly EPS was $1.24, in-line with the consensus estimate. Revenue grew 29% year-over-year to $83.4 billion, a bit lower than the consensus estimate of $84.85 billion.</p> <p>Despite the record-breaking results, management noted that supply constraints impacted sales by $6 billion in Q4 and Q1/22 is likely to see a higher nominal amount of sales headwind from a supply crunch. </p> <p>Analysts at Oppenheimer provided their view on the company, following the quarterly results. While supply crunch remains a headwind for the next couple of quarters, the analysts expect the company to accelerate its share gains (primarily in handsets and notebooks) due to its superior supply chain management and scale advantage.</p>

NASDAQ:AAPL

https://financialmodelingprep.com/market-news/fmp-apple-reported-strong-q4-results-but-supply-constraints-worse-than-expected

Davit Kirakosyan

Financial Modeling Prep

Monolithic Power Systems Shares Down 6% Despite Strong Q3 Results

2021-10-29 14:12:00

<p><a href='https://financialmodelingprep.com/financial-summary/MPWR'>Monolithic Power Systems, Inc. (NASDAQ:MPWR) </a>shares were trading around 6% lower Friday afternoon, despite the company’s reported strong Q3 results. The company continued its pattern of delivering sizable revenue beats and raises, with Q3/Q4 being approximately +7%/+4% above the consensus estimates, as the company benefits from a combination of strong market demand, product-specific share gains, and superior supply. </p> <p>For the full 2021-year, the company appears likely to grow revenue over 40%, roughly 20% above the analog market and easily exceeding its target of +10-15% outperformance. </p> <p>Analysts at Deutsche Bank provided their outlook on the company, increasing their price target to $575 from $525. Looking into 2022, the analysts expect this outperformance vs. the broader analog market to continue driven by a combination of company-specific growth drivers (product cycles in Servers, Auto, NB, 5G etc.), and a strategic increase in capacity (>$2 billion in total revenue capacity online by mid-2022). </p>

NASDAQ:MPWR

https://financialmodelingprep.com/market-news/fmp-monolithic-power-systems-shares-down-6-despite-strong-q3-results

Davit Kirakosyan

Financial Modeling Prep

Extra Space Storage Reported Better Than Expected Q3 Results

2021-10-29 14:10:00

<p><a href='https://financialmodelingprep.com/financial-summary/EXR'>Extra Space Storage Inc. (NYSE:EXR) </a>reported its Q3 results, with funds from operations (FFO) of $1.85 per share, beating Street estimate of $1.71.</p> <p>Analysts at Berenberg Bank classified the Q4 as an impressive quarter, with guidance being raised on the back of the strong performance. The main takeaway from the report, was that same-store occupancy and revenue growth rates were ahead of Street estimates, reflected in the company’s shares closing with more than 5% on Thursday. </p> <p>The company reported record levels of same-store occupancy and strong same-store pricing, which analysts believe will continue to give the company momentum into the next quarter. The brokerage views the increased guidance, in addition to increased investment volume expectations, as a signal that strength will remain in the self-storage space going forward.</p>

NYSE:EXR

https://financialmodelingprep.com/market-news/fmp-extra-space-storage-reported-better-than-expected-q3-results

Davit Kirakosyan

Financial Modeling Prep

DexCom Up 7% Following Q3 Beat

2021-10-29 14:08:00

<p><a href='https://financialmodelingprep.com/financial-summary/DXCM'>DexCom, Inc. (NASDAQ:DXCM) </a>was trading around 7% higher Friday afternoon, following the company’s reported Q3 results, with revenue of $650.2 million and EPS of $0.89, beating the Street estimate of $0.62.</p> <p>Following the result, analysts at Berenberg Bank raised their price target on the company’s shares to $630 from $550, while maintaining their buy rating. According to the brokerage, the company delivered another 40%+ sensor growth quarter, reiterated the G7 launch timeline, increased guidance, and is now selling direct (having purchased its distributor) in the Australia and New Zealand market. While COVID remains a challenge when it comes to outreach to new doctors, the brokerage believes it is manageable and ultimately transient. </p> <p>While the company’s management said that the delta variant is resulting in a more difficult approach to new doctors, the analysts at Berenberg Bank think that the updated guidance (to $2.425 billion - $2.45 billion from $2.35 billion -2.4 billion) is likely to be surpassed.</p>

NASDAQ:DXCM

https://financialmodelingprep.com/market-news/fmp-dexcom-up-7-following-q3-beat

Davit Kirakosyan

Financial Modeling Prep

Shiba Inu Knocked Down Dogecoin, Reaching $40 Billion Market Capitalization

2021-10-28 21:01:00

<p>Shiba Inu, the meme-based cryptocurrency, hit its all-time high of $0.00008616, crossing the market capitalization of $40 billion. At that point, Shiba was the 9th largest crypto asset by market capitalization, knocking down Dogecoin, which was the 10th. </p> <p>However, shortly after, Shiba Inu (which has gained more than 900% in the last 30 days) significantly dropped in value, currently trading at $0.000067, while dogecoin gained more than 27%, trading at $0.303547 and recovering its 9th position in the largest crypto assets list.</p>

SHIBUSD

https://financialmodelingprep.com/market-news/fmp-shiba-inu-knocked-down-dogecoin-reaching-$40-billion-market-capitalization

Davit Kirakosyan

Financial Modeling Prep

Twilio Inc Plummeted 17%, Despite Solid Q3 Results; Tough Comps to Weigh

2021-10-28 20:45:00

<p><a href='https://financialmodelingprep.com/financial-summary/TWLO'>Twilio Inc. (NYSE:TWLO) </a>shares closed more than 17% lower on Thursday following the company’s reported Q3 results, with revenue/EPS of $740.2 million/$0.01, beating the Street estimates of $680.2 million/($0.15). Much of the upside came from Zipwhip and higher A2P fees. Excluding these, core revenue growth decelerated to 38% and is expected to remain around 30% in Q4.</p> <p>Analysts at Oppenheimer provided their view on the company following the results. They believe the major COVID-19 tailwinds are now normalizing, while management pointed to strong demand across all product areas and little competitive pressures. According to the analysts, the company faces a tough comp in Q4, which is likely to keep pressure on organic growth and the stock. The company’s organic growth and net expansion decelerated during Q3, and the analysts expect the trend to continue into the next quarter.</p>

NYSE:TWLO

https://financialmodelingprep.com/market-news/fmp-twilio-inc-plummeted-17-despite-solid-q3-results;-tough-comps-to-weigh

Davit Kirakosyan

Financial Modeling Prep

McDonald's Q3 Results Beat Estimates

2021-10-28 20:40:00

<p><a href='https://financialmodelingprep.com/financial-summary/MCD'>McDonald's Corporation (NYSE:MCD) </a>reported its Q3 results, which were overall strong with notable momentum in the US, UK and Canada. Quarterly EPS came in at $2.76, beating the consensus estimate of $2.46. Revenue was $6.2 billion, above the Street estimate of $6.03 billion.</p> <p>Analysts at RBC Capital provided their view on the company following the results, noting that they expect upside to the company's potentially conservative Q4 US comp guidance, given continued average check strength, as well as opportunities for improvement in other IOM markets. As a result, the analysts raised their price target on the company’s shares to $280 from $268, maintaining their outperform rating.</p>

NYSE:MCD

https://financialmodelingprep.com/market-news/fmp-mcdonalds-q3-results-beat-estimates-

Davit Kirakosyan

Financial Modeling Prep

FARO Technologies Reported Q3 Results, Slightly Below Expectations

2021-10-28 20:38:00

<p><a href='https://financialmodelingprep.com/financial-summary/FARO'>FARO Technologies, Inc. (NASDAQ:FARO) </a>reported its Q3 results, which were slightly below Street estimates. Total sales were $79.2 million. The company’s management explained that the lower-than-expected sales growth of 12% in Q3 was tied to a $5 million slippage of deals into the next quarter, entirely tied to Asia. </p> <p>Analysts at Berenberg Bank provided their view on the company following the report, mentioning that Q3 activity was somewhat soft sequentially, however, funnel activity remains strong for Q4. </p> <p>FARO Sphere is currently in beta testing and is expected to launch in Q4. The analysts, which lowered their price target on the company’s shares to $93 from $98, believe FARO Sphere, alongside Holobuilder will be the key lever to improving the recurring revenue mix.</p>

NASDAQ:FARO

https://financialmodelingprep.com/market-news/fmp-faro-technologies-reported-q3-results-slightly-below-expectations

Davit Kirakosyan

Financial Modeling Prep

Dynatrace Up 5% Following Strong Q2 Beat

2021-10-28 20:31:00

<p><a href='https://financialmodelingprep.com/financial-summary/DT'>Dynatrace, Inc. (NYSE:DT) </a>shares closed with more than 5% gain on Thursday, following the company’s reported Q2 results, with a sizeable top- and bottom-line beat. Quarterly revenue grew 35% year-over-year and came in 3% ahead of the consensus estimate. </p> <p>Analysts at Berenberg Bank provided their view on the company, mentioning that customers continue to embrace the company’s platform outside of APM, which has led to the 14th consecutive quarter of achieving an NRR of >120%. </p> <p>According to the analysts the company’s strong growth continues to face nominal headwinds in 2022 due to FX and the perpetual license transition. The company’s full 2022-year nominal ARR guidance of $986-996 million implies 27-29% growth and is essentially unchanged from Q1. </p> <p>According to the brokerage, revenue expectations are too low relative to ARR and disclosed customer metrics. Thus, it increased its price target on the company’s shares to $86 from $75.</p>

NYSE:DT

https://financialmodelingprep.com/market-news/fmp-dynatrace-up-5-following-strong-q2-beat

Davit Kirakosyan

Financial Modeling Prep

U.S. Banking Regulators May Allow Banks to Hold Crypto on Balance Sheets

2021-10-27 20:11:00

<p>According to Jelena McWilliams, the chairman of the Federal Deposit Insurance Corporation (FDIC), the U.S. Federal Reserve, FDIC, and Office of the Comptroller of the Currency (OCC) are discussing the question of how banks can be allowed to engage with crypto services and hold cryptocurrencies on their balance sheets. McWilliams mentioned that if they don’t bring this activity inside the banks, later the regulators won’t have the ability to regulate them, given the risk that it will be developed outside of the banks.</p>

BTCUSD

https://financialmodelingprep.com/market-news/fmp-us-banking-regulators-may-allow-banks-to-hold-crypto-on-balance-sheets

Davit Kirakosyan

Financial Modeling Prep

Owens Corning Reported Modest Beat, Despite Broader Headwinds

2021-10-27 19:50:00

<p><a href='https://financialmodelingprep.com/financial-summary/OC'>Owens Corning (NYSE:OC) </a>reported impressive Q3 results, with revenue coming in at $2.2 billion (+2% vs. Street) and adjusted diluted EPS of $2.52 (+2% vs. Street).</p> <p>According to the analysts at Berenberg Bank, quarterly results were, for the most part, broadly in line with the company’s initial expectations communicated during its Q2 call, despite accelerating inflationary trends and widely flagged supply shortages/bottlenecks during Q3. However, the concern remains whether the company will experience some demand normalization heading into next year, which the analysts believe has driven the recent de-rating. Consequently, the analysts believe it is crucial for management to outline how the company plans to build upon its 2021 performance in its upcoming Investor Day and whether the company can offset normalizing demand with other strategic initiatives/new growth avenues.</p>

NYSE:OC

https://financialmodelingprep.com/market-news/fmp-owens-corning-reported-modest-beat-despite-broader-headwinds

Davit Kirakosyan

Financial Modeling Prep

3M Company Reported Q3 Beat

2021-10-27 19:47:00

<p><a href='https://financialmodelingprep.com/financial-summary/MMM'>3M Company (NYSE:MMM) </a>reported its Q3 results, with revenue growing 7.1% year-over-year to $8.9 billion. Quarterly adjusted EPS was $2.45 per share, beating the consensus estimate of $2.18.</p> <p>According to the analyst at RBC Capital, the company’s quarterly earnings results were consistent with the storylines they had expected for the sector this earnings season, including continued supply chain challenges and raw material inflation, but strong underlying industrial demand. </p> <p>According to the analysts, price/cost continues to be a weak spot for the company. However, the 140 bps of gross pricing realization in Q3 is a step in the right direction after Q2’s 10 bps of gross price. The company is targeting price/cost to be neutral in Q4, and pressures should continue to ease sequentially. The analysts look for increased legal costs in Q4 for combat arms trials and potentially more PFAS-related settlements.</p>

NYSE:MMM

https://financialmodelingprep.com/market-news/fmp-3m-company-reported-q3-beat

Davit Kirakosyan

Financial Modeling Prep

Microsoft Reported Strong Q1 Results, Shares Up 4%

2021-10-27 19:43:00

<p><a href='https://financialmodelingprep.com/financial-summary/MSFT'>Microsoft Corporation (NASDAQ:MSFT) </a>shares closed more than 4% higher on Wednesday following the company’s reported Q1 results, with revenue coming in at $45.32 billion, beating the consensus estimate of $43.97 billion. Quarterly EPS of $2.27 was also better than the consensus estimate of $2.07.</p> <p>According to the analysts at Oppenheimer, it was another impressive quarter for the company, with 22% year-over-year revenue growth. Azure revenue growth was 48% year-over-year, driven by consumption-based services. Windows OEM grew 10% year-over-year despite supply chain constraints and Windows 11 deferrals. Healthy Azure growth is expected in Q2, but growth should moderate given the size of the installed base. </p> <p>According to the analysts, Azure should see healthy growth and benefit from Microsoft 365 momentum, although this growth will moderate due to the installed base.</p>

NASDAQ:MSFT

https://financialmodelingprep.com/market-news/fmp-microsoft-reported-strong-q1-results-shares-up-4

Davit Kirakosyan

Financial Modeling Prep

What to Expect From Upcoming NXP Semiconductors Q3 Results

2021-10-27 19:40:00

<p><a href='https://financialmodelingprep.com/financial-summary/NXPI'>NXP Semiconductors N.V. (NASDAQ:NXPI) </a>is expected to report its Q3 results on Nov 1, 2021. Analysts at Oppenheimer anticipate a modest beat/raise setup to the consensus’ Q3 sales/EPS of $2.9 billion/ $2.75 and Q4 of $2.9 billion/$2.85. Demand is expected to outpace supply into 2022 as management beefs up capacity. Front-end external/internal capacity is split roughly 60/40 today. External supply is expected to increase over time as the company moves to more advanced (<90nm) nodes, typically on 300mm wafers. </p> <p>Auto is expected to grow 51% year-over-year in Q3, driven by Radar, BMS, and eCockpit. Industrial & IoT is expected to increase 17% year-over-year in Q3, led by MCU and edge processors. Comm Infrastructure grows 1% year-over-year in Q3 led by 5G RAN builds. The analysts see long-term growth sustainable led by auto, 5G RAN and mobile.</p>

NASDAQ:NXPI

https://financialmodelingprep.com/market-news/fmp-what-to-expect-from-upcoming-nxp-semiconductors-q3-results

Davit Kirakosyan

Financial Modeling Prep

Ethereum Will Reach $5,000 by the end of the Year; Finder.com Results

2021-10-26 20:08:00

<p>Finder.com, the product comparison website, published the results of its “Ethereum Price Predictions Report”, which polls 50 fintech specialists who make their predictions on the crypto price.</p> <p>The results suggest that Ethereum, which now trades a little above $4,100, will reach $5,114 by the end of 2021, over $15,000 by 2025, and over $50,000 by 2030.</p>

ETHUSD

https://financialmodelingprep.com/market-news/fmp-ethereum-will-reach-$5000-by-the-end-of-the-year;-findercom-results

Davit Kirakosyan

Financial Modeling Prep

Cathay General Bancorp Reported Better-Than-Expected Q3 Results

2021-10-26 19:51:00

<p><a href='https://financialmodelingprep.com/financial-summary/CATY'>Cathay General Bancorp (NASDAQ:CATY) </a>reported its Q3 results, with a modest beat across several fundamental drivers. Quarterly EPS came in at $0.97, beating the Street estimate of $0.91. Both loan and deposit growth came in better than expected.</p> <p>The company raised its 2021 loan growth guidance to 5%, compared to 3% to 5% growth prior, and reiterated its 2021 NIM guidance calling for a margin in the range of 3.20% - 3.30%.</p> <p>Analysts at Wedbush raised their 2021/2022/2023 core EPS estimates to $3.83/$3.85/$4.30 from $3.80/$3.80/$4.29 primarily due to higher average earning assets. As a result, they increased their price target on the company’s shares to $50 from $49.</p>

NASDAQ:CATY

https://financialmodelingprep.com/market-news/fmp-cathay-general-bancorp-reported-better-than-expected-q3-results

Davit Kirakosyan

Financial Modeling Prep

PulteGroup Reported Slightly Worse Than Expected Q3 Results

2021-10-26 19:49:00

<p><a href='https://financialmodelingprep.com/financial-summary/PHM'>PulteGroup, Inc. (NYSE:PHM) </a>reported its Q3 results, with EPS of $1.82 slightly missing the Street estimate of $1.83. On the top line, total revenues grew 18% to $3.5 billion, slightly below the Street estimate of $3.52 billion, representing the third consecutive quarter of revenue miss. Gross margin increased by 200bp year-over-year to 26.5%, missing the consensus estimate by 20bp. On a positive note, the SG&A/sales margin remained unchanged year-over-year at 9.6%.</p> <p>Unit orders decreased 17% year-over-year to 6,800. Per the release, the company is limiting new home sales and had a 14% year-over-year lower community count of 768.</p>

NYSE:PHM

https://financialmodelingprep.com/market-news/fmp-pultegroup-reported-slightly-worse-than-expected-q3-results

Davit Kirakosyan

Financial Modeling Prep

Facebook Shares Down 4% Following Q3 Miss

2021-10-26 19:47:00

<p><a href='https://financialmodelingprep.com/financial-summary/FB'>Facebook, Inc. (NASDAQ:FB) </a>shares closed almost 4% lower on Tuesday, following the company’s reported modest miss for Q3, with revenue and EBITDA of $29.0 billion and $14.8 billion (vs. Street’s $29.5 billion and $15.4 billion). While the company’s Q4 outlook was also light of sell-side estimates, the combination of more limited effects from Apple privacy changes (ATT/IDFA), new expense disclosure and increased stock buyback made for a better-than-feared outcome. </p> <p>According to analysts at RBC Capital, IDFA & supply chain related pressures are modestly holding back Q4 ad growth but the range of outcomes speaks to the company’s competitive differentiation, where the analysts believe the stock’s attractive valuation reflects well-discounted impression and CPM concerns, metaverse investments and regulatory concerns. </p>

NASDAQ:FB

https://financialmodelingprep.com/market-news/fmp-facebook-shares-down-4-following-q3-miss

Davit Kirakosyan

Financial Modeling Prep

Cadence Design Systems Reported Q3 Beat, Raised Outlook

2021-10-26 19:45:00

<p><a href='https://financialmodelingprep.com/financial-summary/CDNS'>Cadence Design Systems, Inc. (NASDAQ:CDNS) </a>reported its Q3 results, with all metrics being above the Street expectations, and stronger-than-expected demand driving quarterly revenue outperformance. Following solid Q3 results, the company’s management raised its full 2021-year guidance, now anticipating revenue of $2.97 billion, which represents a 10.7% growth.</p> <p>Analysts at Berenberg Bank raised their price target on the company’s shares to $180 from $170 on higher full 2021-year expectations. </p>

NASDAQ:CDNS

https://financialmodelingprep.com/market-news/fmp-cadence-design-systems-reported-q3-beat-raised-outlook

Davit Kirakosyan

Financial Modeling Prep

Merchants to Offer Crypto Products and Services on Mastercard Network

2021-10-25 20:32:00

<p>Mastercard (NYSE: MA) and Bakkt (NYSE: BKKT), a cryptocurrency exchange platform, made an announcement on Monday, according to which “a multifaceted partnership”, agreed between the two companies, will allow Mastercard’s partners and merchants in the US to offer a solution such as buying, selling, and holding of cryptos via custodial wallets supported by the Bakkt platform and streamlined issuance of branded crypto debit and credit cards.</p>

BTCUSD

https://financialmodelingprep.com/market-news/fmp-merchants-to-offer-crypto-products-and-services-on-mastercard-network

Davit Kirakosyan

Financial Modeling Prep

RHI Reported Q3 Beat

2021-10-25 20:07:00

<p><a href='https://financialmodelingprep.com/financial-summary/RHI'>Robert Half International Inc. (NYSE:RHI) </a>provided its Q3 results, with the flexibility of remote work and labor shortages continuing to benefit the company’s growth and profitability. Quarterly revenue came in at $1.7 billion and Non-GAAP EPS at $1.53, which both beat the consensus estimates.</p> <p>The company’s small and midsize business (SMB) customers are embracing remote work and using it to actively recruit talent outside their local area to find key skills and/or cheaper labor options. The company experiences a modest 5-10% decline in the public-related business in Q4 sequentially due to slowing government assistance programs for COVID-19 unemployment. Private sector demand remains strong due to labor shortages and numerous customer investment initiatives. </p>

NYSE:RHI

https://financialmodelingprep.com/market-news/fmp-rhi-reported-q3-beat

Davit Kirakosyan

Financial Modeling Prep

IMAX Continues to be Well-Positioned for Recovery

2021-10-25 20:02:00

<p>Analysts at Wedbush provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/IMAX'>IMAX Corporation (NYSE:IMAX) </a>ahead of the company’s Q3 results, which are expected to be reported on Oct 28. The analysts believe the company is best positioned within the theatrical exhibitions as its success is solely dependent on blockbusters and not on the overall release slate. The company’s theatres typically play only the first week or two of these blockbusters, so is largely insulated from shrinking theatrical windows. As attendance compresses closer to a film’s opening, the company becomes a more prominent screen option, driving market share gains, as it continues to expand its footprint globally. </p> <p>The brokerage now expects Q3 revenue of $55 million, compared to its previous estimate of $65 million and Street estimate of $57 million.</p>

NYSE:IMAX

https://financialmodelingprep.com/market-news/fmp-imax-continues-to-be-well-positioned-for-recovery

Davit Kirakosyan

Financial Modeling Prep

Positive Developments in Q3 for Safehold

2021-10-25 20:00:00

<p>Analysts at Berenberg Bank provided their view on <a href='https://financialmodelingprep.com/financial-summary/SAFE'>Safehold Inc. (NYSE:SAFE) </a>following Q3 results, which were seen as positive and further supportive of their Buy thesis. Notable items in the quarter were: (1) solid origination volume and disclosure of a robust deal pipeline; (2) two positive mark to market sales by SAFE customers; and (3) the commencement of solicitation of iStar (STAR) senior note holders.</p> <p>The company originated $321 million of ground leases in Q3, essentially in line with the brokerage’s estimate of $350 million. Commentary on the conference call was positive, with management noting that the pipeline remains robust. During the company’s equity raise last month, it disclosed a pipeline size of around $1.4 billion and the brokerage believes it is likely that the company can/will close on a large portion within the next 12 months.</p>

NYSE:SAFE

https://financialmodelingprep.com/market-news/fmp-positive-developments-in-q3-for-safehold

Davit Kirakosyan

Financial Modeling Prep

What to Expect From NetEase's Q3 Results?

2021-10-25 19:57:00

<p>Analysts at Nomura provided their outlook on upcoming <a href='https://financialmodelingprep.com/financial-summary/NTES'>NetEase's (NASDAQ:NTES) </a>Q3 results, expecting a solid quarter, that will likely be a rare bright spot in an otherwise dull Q3 earnings season for the China internet space, that will likely be marked by sluggish growth and a cautious tone towards outlook. </p> <p>According to the brokerage, the two new titles the company launched in July (Naraka Bladepoint) and September (Harry Potter) have both materially surpassed market expectations. The analysts believe the popularity of both the titles will be able to sustain, backed by the launch of a mobile and console version for Naraka Bladepoint and entry into the Japan market for Harry Potter early next year. </p> <p>The brokerage anticipates 20%/38% year-over-year growth in the company’s Q3 consolidated revenue/non-GAAP operating profit which is 6%/8% above the consensus estimates. </p>

NASDAQ:NTES

https://financialmodelingprep.com/market-news/fmp-what-to-expect-from-neteases-q3-results?

Davit Kirakosyan

Financial Modeling Prep

Tesla Still Holds Bitcoin in Q3, Musk Tweets $69,000 Bitcoin Price Meme

2021-10-22 14:15:00

<p>According to Tesla’s Q3 earnings results, the company holds bitcoin worth $1.26 billion on its balance as of September 30, 2021.</p> <p>Wednesday Elon Musk tweeted a meme, showing Bitcoin and Ether priced at $69,000 and $4,200, respectively.</p> <p>Bitcoin is trading slightly above $60,000 today, declining around 10% from the all-time-high of almost $67,000 achieved on Wednesday.</p>

BTCUSD

https://financialmodelingprep.com/market-news/fmp-tesla-still-holds-bitcoin-in-q3-musk-tweets-$69000-bitcoin-price-meme

Davit Kirakosyan

Financial Modeling Prep

Danaher’s Q3 Beat & Raise Failed to Boost Expectations

2021-10-22 14:04:00

<p><a href='https://financialmodelingprep.com/financial-summary/DHR'>Danaher Corporation (NYSE:DHR) </a>reported its Q3 results, with the quarterly beat and raise failing to meaningfully boost expectations, following five consecutive quarters of robust operating results bolstered by solid execution amid a windfall of demand. Quarterly adjusted cash EPS came in at $2.39, beating the consensus of $2.15.</p> <p>EAS (Product ID + Water Quality) had a margin shortfall from the sector-wide supply chain pressures/inflation/component shortages. Notably, management attributed the relentless DBS execution to keep the fallout from these headwinds to a minimum and suggested it has gained share during this turmoil. </p> <p>The company anticipates Q4 organic revenue growth of low-to mid-teens and the Q4 base business growth of high-single-digits, and for the revenue tailwind from COVID- related revenues to be a mid-to high-single-digit percentage point contribution to growth.</p>

NYSE:DHR

https://financialmodelingprep.com/market-news/fmp-danaher’s-q3-beat-&-raise-failed-to-boost-expectations

Davit Kirakosyan

Financial Modeling Prep

The Boston Beer Company Reported Disappointing Q3 Results

2021-10-22 14:02:00

<p><a href='https://financialmodelingprep.com/financial-summary/SAM'>The Boston Beer Company, Inc. (NYSE:SAM) </a>reported disappointing Q3 earnings results, which were driven by a slowdown in hard seltzer growth and material shortfall costs. </p> <p>The company’s quarterly net sales of $561.6 million was 5% ahead of the Street estimate of $534.7 million; however, this was the only positive from the results. The company reported an operating loss of $75.8 million, representing a huge 202% miss versus the Street estimates, while diluted EPS of -$4.76 was 215% below the consensus estimate. </p> <p>The company now expects full 2021-year GAAP diluted EPS to range from $2 to $6, c76% below current consensus at the mid-point. For the full 2022-year, the company is guiding to depletions and shipments growth of between mid-single-digits and low-double-digits, expecting the hard seltzer category to grow 0-10% year-over-year.</p>

NYSE:SAM

https://financialmodelingprep.com/market-news/fmp-the-boston-beer-company-reported-disappointing-q3-results

Davit Kirakosyan

Financial Modeling Prep

What to Expect From The Estée Lauder’s Q1 Results

2021-10-22 13:59:00

<p>Analysts at Deutsche Bank provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/EL'>The Estée Lauder Companies Inc. (NYSE:EL) </a>ahead of the company’s Q1 earnings report. </p> <p>The analysts overall agree with the consensus estimates; however, they are cognizant of a number of cross-currents exemplified by recent results from LVMH P&C, PG/SK-II, and L'Oreal Luxe. Specifically, while LVMH P&C results were largely in line with the Street estimates and L'Oreal Luxe slightly better than the Street, the analysts note that industry dynamics point to stronger-than-anticipated results in the US offset by relative underperformance in China/Asia/Hainan. </p> <p>As a result of this, analysts lowered their piece target on the company’s shares to $342 from $347, while keeping their hold rating unchanged. </p>

NYSE:EL

https://financialmodelingprep.com/market-news/fmp-what-to-expect-from-the-estée-lauder’s-q1-results

Davit Kirakosyan

Financial Modeling Prep

Snap Plummeted 25% on Weaker Q4 Outlook

2021-10-22 13:53:00

<p><a href='https://financialmodelingprep.com/financial-summary/SNAP'>Snap Inc. (NYSE:SNAP) </a>shares were trading around 25% lower Friday afternoon following yesterday’s Q3 results announcement, with daily active users beating the Street expectations, but revenue was disappointing.</p> <p>The company provided a weaker outlook for Q4 on IDFA headwinds & expectations of supply chain disruptions impacting ad spend. While IDFA headwinds will be felt across the entire digital ad ecosystem, the company's skew towards larger direct response advertiser and shorter duration of advertiser relationships will probably increase headwinds in comparison to others. </p> <p>Analysts at Oppenheimer lowered their price target on the company’s shares to $75 from $88, reiterating their outperform rating. While the analysts expect the company to fully recover from these headwinds, they believe it will take time for alternative measurement solutions to reach full adoption.</p>

NYSE:SNAP

https://financialmodelingprep.com/market-news/fmp-snap-plummeted-25-on-weaker-q4-outlook-

Davit Kirakosyan

Financial Modeling Prep

First Time a U.S Public Pension Fund Invests in Bitcoin and Ether

2021-10-21 20:41:00

<p>The Houston Firefighters’ Relief and Retirement Fund (HFRRF), a $5.5 billion pension fund, announced that it had added $25 million worth of bitcoin and ether to its portfolio. The is the first time a U.S. public pension fund invested in digital assets. </p> <p>Bitcoin was trading around 5% lower today, dropping from its all-time high of almost $67,000 achieved on Wednesday.</p>

BTCUSD

https://financialmodelingprep.com/market-news/fmp-first-time-a-us-public-pension-fund-invests-in-bitcoin-and-ether

Davit Kirakosyan

Financial Modeling Prep

Anthem Reported Q3 Beat & Raise

2021-10-21 20:27:00

<p><a href='https://financialmodelingprep.com/financial-summary/ANTM'>Anthem, Inc. (NYSE:ANTM) </a>reported its Q3 results, beating the Street estimates, driven by strong operating momentum and balanced earnings performance across the portfolio. The beat reflects solid membership growth in government and lower-than-expected MLR, despite utilization recovery to just above pre-COVID baseline levels. While the delta variant surge drove higher COVID utilization in August and September, the impact was largely offset by lower-than-expected non-COVID utilization, particularly for higher-cost inpatient volume. Management noted that the utilization spike was largely attributable to Commercial book, while Medicare Advantage tracked closely to expectations and Medicaid utilization developed somewhat lower than expected.</p>

NYSE:ANTM

https://financialmodelingprep.com/market-news/fmp-anthem-reported-q3-beat-&-raise

Davit Kirakosyan

Financial Modeling Prep

M&T Bank Corporation Outlook Following Q3 Results

2021-10-21 20:23:00

<p>Analysts at RBC Capital provide their view on <a href='https://financialmodelingprep.com/financial-summary/MTB'>M&T Bank Corporation (NYSE:MTB) </a>following its Q3 results, with core EPS coming in at $3.74, beating the consensus estimate of $3.49. The strong performance was driven by better-than-expected revenues and a net provision benefit, offset in part by increased expenses. </p> <p>The analysts increased their 2021 and 2022 EPS estimates for the company to $11.65 and $12.45, from $10.92 and $12.82, respectively, mentioning that the company is well-positioned for a stronger economy with higher interest rates.</p> <p>According to the brokerage, the company’s balance sheet is loaded with liquidity that over the next 12–18 months should be put to work in higher-yielding earning assets, which should lead to higher net interest income. Moreover, the company’s net interest margin would be favorably impacted in a rising short-term interest rate environment. </p>

NYSE:MTB

https://financialmodelingprep.com/market-news/fmp-m&t-bank-corporation-outlook-following-q3-results

Davit Kirakosyan

Financial Modeling Prep

Texas Instruments Q3 Preview

2021-10-21 20:20:00

<p><a href='https://financialmodelingprep.com/financial-summary/TXN'>Texas Instruments Incorporated (NASDAQ:TXN) </a>is expected to report its Q3 earnings on Oct 26. Analysts at Oppenheimer provided their outlook on the upcoming quarterly results, expecting a modest beat/raise set-up compared to the consensus estimate of sales/EPS of $4.7 billion/$2.05 for Q3 and $4.5 billion/$1.93 for Q4. </p> <p>The analysts see upside to the flattish Q3 guide, considering demand signals remain broadly strong while the company has topped guidance the last five quarters by 11% on average. According to the brokerage, supply shortages are transitory and likely to push demand forward.</p>

NASDAQ:TXN

https://financialmodelingprep.com/market-news/fmp-texas-instruments-q3-preview-

Davit Kirakosyan

Financial Modeling Prep

Winnebago Industries Reported Q4 Beat

2021-10-21 20:17:00

<p><a href='https://financialmodelingprep.com/financial-summary/WGO'>Winnebago Industries, Inc. (NYSE:WGO) </a>reported its Q4 earnings, with better-than-expected results across most metrics while the company continues to gain share in the channel and sees ever-growing backlogs and record-low inventories, further extending the replenishment story. Quarterly EPS came in at $2.57, better than the Street estimate of $1.99. </p> <p>While management addressed the growing bear cases facing the industry, it is difficult to prove a negative, and investors will likely need to see ongoing evidence as to the durability of RV demand to award the company with anything but the currently-discounted multiple. </p>

NYSE:WGO

https://financialmodelingprep.com/market-news/fmp-winnebago-industries-reported-q4-beat

Davit Kirakosyan

Financial Modeling Prep

Bitcoin Reached $66,000 All-Time High Following ETF Launch

2021-10-20 21:44:00

<p>Bitcoin price crossed $66,000, reaching its all-time high, following the Proshares Bitcoin Strategy ETF (BITO), the first bitcoin ETF's launch in the U.S. The cryptocurrency is now the 6th most valuable asset in the world, with over $1.2 trillion market capitalization.</p> <p>Following the BITO’s listing, the wealth manager Vaneck plans to launch its bitcoin futures ETF in the U.S., which, according to the post-effective filing with the SEC, is approved to be listed after October 23, 2021.</p>

BTCUSD

https://financialmodelingprep.com/market-news/fmp-bitcoin-reached-$66000-all-time-high-following-etf-launch

Davit Kirakosyan

Financial Modeling Prep

Thoughts on Badger Meter Following Q3 Results

2021-10-20 21:28:00

<p><a href='https://financialmodelingprep.com/financial-summary/BMI'>Badger Meter, Inc. (NYSE:BMI) </a>reported its Q3 results last week, which were mostly in line with the Street estimates, despite investor concerns over the impact of industry supply chain challenges on margins. </p> <p>The Water Utility segment faced very tough year-over-year comps and supply challenges, although organic sales still grew around 2%. Strong orders also continued into Q3, and the company exited the quarter with another record backlog. The company’s manufacturing output continues to be limited by supplier shortages of certain electronics, while logistics remain a challenge. While the company managed to offset these pressures with pricing actions and a more favorable mix of products, cost pressures are expected to linger well into 2022.</p>

NYSE:BMI

https://financialmodelingprep.com/market-news/fmp-thoughts-on-badger-meter-following-q3-results

Davit Kirakosyan

Financial Modeling Prep

Dover Corporation Reported Strong Q3 Beat Despite Supply Chain Pressures

2021-10-20 21:26:00

<p><a href='https://financialmodelingprep.com/financial-summary/DOV'>Dover Corporation (NYSE:DOV) </a>reported strong Q3 results, with a $0.11 operating beat driven by upside in Pumps. The conference call was understandably dominated by questions on the ongoing supply chain pressures. According to analysts at RBC Capital, the company’s management is capably handling these headwinds, absorbing a $25-$30 mil EBIT hit, and still boosting what looks to be achievable/conservative 2021 guidance $0.05/0.7% above consensus. Management does not expect these headwinds to abate by year-end. Backlog remains at record levels, and management is optimistic about the demand environment into 2022. </p>

NYSE:DOV

https://financialmodelingprep.com/market-news/fmp-dover-corporation-reported-strong-q3-beat-despite-supply-chain-pressures

Davit Kirakosyan

Financial Modeling Prep

Key Takeaways From The Procter & Gamble’s Q1 Results

2021-10-20 21:24:00

<p><a href='https://financialmodelingprep.com/financial-summary/PG'>The Procter & Gamble Company (NYSE:PG) </a>reported its Q1 results, which fell somewhat short due to softness in Beauty/China and higher-than-expected gross margin pressures (broad-based inflation from raw materials, labor, and freight) that are likely to persist.</p> <p>Total organic revenue of +4% (nearly +7% on a 3-year CAGR basis) solidly beat expectations, and with no major timing benefits—implying that the company’s full-year guidance allows for deceleration on a multi-year CAGR basis even as new pricing takes effect, current elasticities appear favorable, and the company’s market share momentum remains robust.</p>

NYSE:PG

https://financialmodelingprep.com/market-news/fmp-key-takeaways-from-the-procter-&-gamble’s-q1-results

Davit Kirakosyan

Financial Modeling Prep

Intuitive Surgical Reported Q3 Beat

2021-10-20 21:18:00

<p><a href='https://financialmodelingprep.com/financial-summary/ISRG'>Intuitive Surgical, Inc. (NASDAQ: ISRG) </a>reported its Q3 results, with revenue coming in at $1.40 billion, beating the consensus estimate of $1.38 billion, on higher placements and procedures, despite $23 million of COVID- related customer credits. </p> <p>The company delivered GAAP EPS of $1.04, which also beat the Street estimate of $0.88 on the higher revenues, OpEx leverage and lower-than-modeled tax rate. </p> <p>The company trimmed its FY21 procedure growth guidance from 27-30% to 27-29%, mentioning that supply chain issues likely to impact margins going forward. </p>

NASDAQ:, ISRG

https://financialmodelingprep.com/market-news/fmp-intuitive-surgical-reported-q3-beat

Davit Kirakosyan

Financial Modeling Prep

$1 Billion Daily Volume For Proshares Bitcoin Strategy ETF; Bitcoin Above $64,000

2021-10-19 20:42:00

<p>ProShares Bitcoin Strategy ETF (BITO), the first U.S. bitcoin-linked ETF, broke records on Tuesday after capturing around $1 billion in volume on its U.S launch. According to Eric Balchunas, the senior ETF analyst for Bloomberg, BITO, which closed the day with $41.94 per unit, “defied expectations”. BITO’s record pushed Bitcoin prices even higher. The cryptocurrency is trading above $64,000 today.</p>

BTCUSD

https://financialmodelingprep.com/market-news/fmp-$1-billion-daily-volume-for-proshares-bitcoin-strategy-etf;-bitcoin-above-$64000

Davit Kirakosyan

Financial Modeling Prep

Takeaways From Donaldson Company’s Investor Meeting by Oppenheimer

2021-10-19 20:28:00

<p>Analysts at Oppenheimer provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/DCI'>Donaldson Company, Inc. (NYSE:DCI) </a>following their hosted investor meetings with CEO Tod Carpenter and CFO Scott Robinson. During the call, management mentioned robust underlying demand, confidence in navigating supply chain and inflationary pressures, and significant optimism in the company’s profitable growth prospects over the coming years. </p> <p>Analysts at Oppenheimer view the company’s 2022 sales guidance of +5-10% as reasonable, with a bias to the upside given the likelihood of an infrastructure bill (direct Engine, indirect Industrial catalyst) and significant price realization.</p>

NYSE:DCI

https://financialmodelingprep.com/market-news/fmp-takeaways-from-donaldson-company’s-investor-meeting-by-oppenheimer

Davit Kirakosyan

Financial Modeling Prep

Zions Bancorporation Reported Q3 Beat

2021-10-19 20:26:00

<p><a href='https://financialmodelingprep.com/financial-summary/ZION'>Zions Bancorporation (NASDAQ:ZION) </a>provided its Q3 results, with EPS coming in at $1.45, beating the Street estimate of $1.28. </p> <p>Core trends were generally solid as a negative provision pushed the results due to continued strength in credit quality. Management's outlook indicates higher growth across most categories, including moderately higher loan balances, increasing net interest income, and stable to slightly higher customer-related fees.</p> <p>Following the report, analysts at RBC Capital adjusted their 2021 EPS from $6.50 to $6.65 and 2022 EPS from $4.60 to $4.70, and as a result, raised their price target to $66 from $65.</p>

NASDAQ:ZION

https://financialmodelingprep.com/market-news/fmp-zions-bancorporation-reported-q3-beat

Davit Kirakosyan

Financial Modeling Prep

Takeaways from MacBook Pro Launch

2021-10-19 20:21:00

<p>Analysts at Deutsche Bank provided their view on the <a href='https://financialmodelingprep.com/financial-summary/AAPL'>Apple Inc. (NASDAQ:AAPL) </a>announced MacBook Pros using their own ARM-based CPUs, M1 Pro and M1 Max, which offer significant performance improvement when compared to the previous MacBook Pro based on Intel CPU and AMD GPU. </p> <p>The new MacBook Pros, with a starting price $100/$200 higher than the previous models, do not appear to be negatively impacted by supply constraints, as they are available for an order today and are available next week. </p> <p>The significant performance improvement of the new MacBook Pros could drive pent-up demand in C4Q, as it appears that customers may have been holding off their purchases in C3Q in anticipation of the product launch. </p>

NASDAQ:AAPL

https://financialmodelingprep.com/market-news/fmp-takeaways-from-macbook-pro-launch

Davit Kirakosyan

Financial Modeling Prep

What to Expect From The Brink's Q3 Results

2021-10-19 20:18:00

<p>Analysts at Berenberg Bank provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/BCO'>The Brink's Company (NYSE:BCO) </a>ahead of Q3 results, lowering their price target on the company’s shares to $95 from $100.</p> <p>The company will report Q3 earnings next week. The analysts don’t expect significantly different numbers compared to the company’s recently reduced 2021 guidance. Therefore, the analysts anticipate the focus to be on the outlook for 2022 and how the company is planning to offset cost inflation. According to Berenberg Bank, key to this will be whether the company is able to pass on inflation in two of its largest costs (wages and fuel) through price increases. </p> <p>Following the cut to 2021 guidance, any cuts to 2022 expectations would likely be poorly received, as it would suggest the company either cannot pass on cost inflation or that the headwinds to the industry from COVID-19 are more persistent than originally expected.</p>

NYSE:BCO

https://financialmodelingprep.com/market-news/fmp-what-to-expect-from-the-brinks-q3-results-

Davit Kirakosyan

Financial Modeling Prep

Fitch Says Stablecoin Will Affect Security Markets

2021-10-18 19:16:00

<p>Fitch Ratings., one of the largest credit rating agencies in the world, said stablecoins can be disruptive to securities and commercial paper markets, in the report published on Monday.</p> <p>The report, mentioning the growth of stablecoins during the pandemic, highlighting tether (USDT) and Facebook’s planned “Diem”, says that stablecoin-related turbulence could affect the commercial paper markets, as well as transmit shocks to other market participants.</p>

BTCUSD

https://financialmodelingprep.com/market-news/fmp-fitch-says-stablecoin-will-affect-security-markets-

Davit Kirakosyan

Financial Modeling Prep

What to Expect From Hershey’s Q3 Report

2021-10-18 19:14:00

<p>Analysts at Deutsche Bank provided their view on <a href='https://financialmodelingprep.com/financial-summary/HSY'>The Hershey Company’s (NYSE:HSY) </a>upcoming Q3 results (exp. October 28), noting that the company continues to demonstrate favorable fundamentals and execution capabilities backed by strong US consumption data and expected increase in pricing heading into 2022.</p> <p>The analysts increased their price target on the company’s shares to $184 from $174, anticipating ahead-of-consensus revenue of $2.354 billion, but lower its gross margins estimates to 44.7% from 44.8% on worsening cost pressures.</p>

NYSE:HSY

https://financialmodelingprep.com/market-news/fmp-what-to-expect-from-hershey’s-q3-report

Davit Kirakosyan

Financial Modeling Prep

Diebold Nixdorf Down 4%, Q3 Preview by Wedbush

2021-10-18 19:09:00

<p><a href='https://financialmodelingprep.com/financial-summary/DBD'>Diebold Nixdorf (NYSE:DBD) </a>shares were trading around 4% lower today. Analysts at Wedbush provided a company report on Diebold Nixdorf’s upcoming Q3 earnings results (ex. Oct 28), expecting good top-line growth to $1.0 billion weighted towards its Product segment as the company continues its roll-out of its DN Series and typical seasonality which tends to be weighted towards the back half of the year peaking in Q4. The analysts expect the gross margins to also increase to 28.3% as the more profitable DN Series increases as a percentage of total shipments.</p> <p>The brokerage noted that it remains on the sidelines for now, but sees several metrics (backlog, order growth, and expected GM appreciation) that could lead to being more constructive, however, remains cautious due to the near-term impact of snarled logistics.</p>

NYSE:DBD

https://financialmodelingprep.com/market-news/fmp-diebold-nixdorf-down-4-q3-preview-by-wedbush

Davit Kirakosyan

Financial Modeling Prep

The PNC Financial Services Group Reported Strong Q3 Results

2021-10-18 19:05:00

<p><a href='https://financialmodelingprep.com/financial-summary/PNC'>The PNC Financial Services Group, Inc. (NYSE:PNC) </a>reported its Q3 results, with adjusted EPS of $3.75 beating the Street estimate of $3.64 on record fee revenue driven by corporate services and residential mortgage.</p> <p>The quarterly results, which include a full quarter of benefit from the BBVA USA branch acquisition, were viewed positively by the analysts at DA Davidson, who raised their price target on the company’s shares to $209 from $204.</p> <p>According to the brokerage, the combined tailwinds from an improving economy and BBVA should drive average earnings higher than its peer set over the next two years.</p>

NYSE:PNC

https://financialmodelingprep.com/market-news/fmp-the-pnc-financial-services-group-reported-strong-q3-results

Davit Kirakosyan

Financial Modeling Prep

Kosmos Energy Up 6% Following $550 Million Acquisition Announcement

2021-10-18 18:59:00

<p><a href='https://financialmodelingprep.com/financial-summary/KOS'>Kosmos Energy Ltd. (NYSE:KOS) </a>shares were trading around 6% higher on Monday following the company’s announcement last week, according to which it will acquire $550 million of additional stakes in its Jubilee and TEN fields in Ghana from Occidental. </p> <p>Following this announcement, analysts at Berenberg Bank raised their price target on the company’s shares to $5.20 from $3.80, mentioning that the deal is accretive to NAV at oil prices above $51/bbl.</p> <p>According to the analysts, the deal adds c17kboe/d of production, increasing the company’s exposure to a key cash-generating asset, and significantly improves the company’s ability to reduce its net debt.</p>

NYSE:KOS

https://financialmodelingprep.com/market-news/fmp-kosmos-energy-up-6-following-$550-million-acquisition-announcement-

Davit Kirakosyan

Financial Modeling Prep

Putin Said Crypto May Be Used for Oil Trade Settlements

2021-10-15 22:06:00

<p>President of Russia Vladimir Putin commented on U.S. dollar has a major competitive advantage being an international reserve currency, and the U.S. authorities are undermining it via increasing sovereign debt and boosting domestic inflation, while “making a big mistake” using the currency as a sanctions tool abroad. As all these may lead Russia and other countries to move away from the dollar, Putin admitted that cryptos can be used for settlements in the future, however, he noted that it’s too early to do that in the oil trade.</p>

BTCUSD

https://financialmodelingprep.com/market-news/fmp-putin-said-crypto-may-be-used-for-oil-trade-settlements

Davit Kirakosyan

Financial Modeling Prep

Thoughts on Coinbase’s Regulatory Framework and NFT Marketplace

2021-10-15 22:03:00

<p>Analysts at Oppenheimer provided their thoughts on <a href='https://financialmodelingprep.com/financial-summary/COIN'>Coinbase Global, Inc. (NASDAQ:COIN) </a> following the company’s announcement related to its regulatory framework and NFT marketplace.</p> <p>The company published a Digital Asset Policy Proposal on Oct 14, suggesting a new regulatory framework for the digital assets industry. While EU, UK, Singapore, Japan, etc. have a unified approach to regulate digital assets, US appears to be behind. The proposed framework laid out four key pillars for digital assets: 1) separate framework; 2) designate one regulator and self-regulatory organization; 3) investor protection; and 4) interoperability and fair competition. While it is hard to predict where the final regulatory framework will ultimately land, the brokerage believes the spectrum is largely defined. </p><p>Despite it taking time, the brokerage sees a path toward regulatory clarity, which is a net positive for the stock and the industry longer term.</p> <p>Also, the brokerage believes the NFT (Coinbase announced the launch of its own NFT marketplace on Oct 12) is a big positive to the company longer-term because it could drive: 1) meaningful incremental revenue (trading & custody); 2) fee rate expansion; and 3) diversification.</p>

NASDAQ:COIN

https://financialmodelingprep.com/market-news/fmp-thoughts-on-coinbase’s-regulatory-framework-and-nft-marketplace

Davit Kirakosyan

Financial Modeling Prep

Domino's Pizza Dropped 4% on Mixed Q3 Results

2021-10-15 21:58:00

<p><a href='https://financialmodelingprep.com/financial-summary/DPZ'>Domino's Pizza, Inc. (NYSE:DPZ) </a>shares closed with a 4.73% loss on Friday following the company’s reported mixed Q3 results, impacted by staffing challenges and inflation. </p> <p>Quarterly EPS came in at $3.24, above the consensus estimate of $3.11, on domestic SSS growth of -1.9% (vs. Street’s +1.6%) and international SSS growth of +8.8% (vs. Street’s +8.0%). The company attributed the weakness of U.S. SSS growth to a decline in transactions due to staffing shortages and the tapering off of stimulus benefits.</p> <p>Analysts at Wedbush lowered their 2021 EPS estimate to $13.53 from $13.59, and their 2022 EPS estimate to $15.07 from $15.88. The brokerage reiterated its outperform rating, but lowered its price target to $550 from $585.</p>

NYSE:DPZ

https://financialmodelingprep.com/market-news/fmp-dominos-pizza-dropped-4-on-mixed-q3-results

Davit Kirakosyan

Financial Modeling Prep

Corsair Gaming Shares Down 8% Following Preannounced Q3 Results

2021-10-15 21:51:00

<p><a href='https://financialmodelingprep.com/financial-summary/CRSR'>Corsair Gaming, Inc. (NASDAQ:CRSR) </a>shares closed with an 8.12% loss on Friday following the company’s preannounced results for Q3.</p> <p>While it is no surprise that supply chain issues hurt the company in Q3, the analysts at Wedbush think that the impact was far greater than what investors expected. The company reduced its 2021 revenue guidance to $1.825 – 1.925 billion (vs. prior $1.9 – 2.1 billion).</p> <p>According to the brokerage, it seems that demand was strong, but the company was unable to fully supply components to DIY gamers looking to build new systems or enhance existing systems in the quarter. The brokerage anticipates supply to grow sufficiently to meet demand in 2022, but expects reduced gross margin from higher shipping costs.</p>

NASDAQ:CRSR

https://financialmodelingprep.com/market-news/fmp-corsair-gaming-shares-down-8-following-preannounced-q3-results

Davit Kirakosyan

Financial Modeling Prep

What to Expect From The Coca-Cola Company’s Q3 Results?

2021-10-15 21:45:00

<p>Analysts at Deutsche Bank provided their views on <a href='https://financialmodelingprep.com/financial-summary/KO'>The Coca-Cola Company (NYSE:KO) </a>ahead of the company’s Q3 earnings results, mentioning that they skew more cautious on revenue but slightly more bullish on overall EPS relative to consensus. </p> <p>The brokerage expects more volatile on-premise/away-from-home trends following the Delta Variant uptick in July and shipment timing considerations likely to weigh on concentrate volumes and channel mix, even as at-home demand appears resilient in the US. </p> <p>The analysts lowered their price target on the company’s shares to $59 from $60, expecting Q3 EPS of $0.58 and $2.27 for the full 2021-year.</p>

NYSE:KO

https://financialmodelingprep.com/market-news/fmp-what-to-expect-from-the-coca-cola-company’s-q3-results?

Davit Kirakosyan

Financial Modeling Prep

Billionaire Barry Sternlicht Said He Owns Bitcoin and Ether

2021-10-14 21:09:00

<p>Barry Sternlicht, a billionaire (worth $4.4 billion according to Forbes) CEO of Starwood Capital Group, said that he owns bitcoin and ether during his interview with CNBC on Wednesday.</p> <p>According to Sternlicht, who is running an investment firm with more than $95 billion in assets under management, holding cryptos makes sense as a way of investment portfolio diversification. In addition, he replied to JPMorgan CEO Jamie Dimon’s comment on bitcoin being worthless, with the phrase “Gold is kind of worthless too.” </p>

BTCUSD

https://financialmodelingprep.com/market-news/fmp-billionaire-barry-sternlicht-said-he-owns-bitcoin-and-ether

Davit Kirakosyan

Financial Modeling Prep

JPMorgan Chase & Co Reported Q3 Beat

2021-10-14 20:39:00

<p><a href='https://financialmodelingprep.com/financial-summary/JPM'>JPMorgan Chase & Co. (NYSE:JPM) </a>reported its Q3 results, with quarterly EPS coming in at $3.52, beating the consensus estimate of $2.93, primarily driven by better-than-anticipated net interest income and a significant provision benefit.</p> <p>Analysts at RBC Capital raised their price target to $175 from $160 on the company, and maintained their outperform rating, mentioning that all segments exceeded their expectations with its Corporate & Investment Bank having the strongest outperformance. </p> <p>Assuming the economy continues to expand throughout 2021, the brokerage expects the company to steadily drive its earnings power with loan growth associated with the strengthening of the economy.</p>

NYSE:JPM

https://financialmodelingprep.com/market-news/fmp-jpmorgan-chase-&-co-reported-q3-beat

Davit Kirakosyan

Financial Modeling Prep

Netflix Q3 Preview by Wedbush

2021-10-14 20:35:00

<p>Analysts at Wedbush provided a company report on <a href='https://financialmodelingprep.com/financial-summary/NFLX'>Netflix, Inc. (NASDAQ:NFLX) </a>ahead of the company’s Q3 earnings, expected to be reported on Oct 19, 2021.</p> <p>The analysts expect the company to post Q3 revenue of $7.483 billion, which is in line with the consensus estimate of $7.480 billion, and guidance of $7.477 billion. The analysts’ estimates assume 4 million net paid subscriber additions during the quarter (vs. Street of 3.50 million) and global subscribers at 213.18 million (growing 9.2% year-over-year).</p> <p>The brokerage anticipates a quarterly EPS of $2.60, above the consensus estimate of $2.56, as higher subscriber additions likely offset increased marketing spend.</p>

NASDAQ:NFLX)

https://financialmodelingprep.com/market-news/fmp-netflix-q3-preview-by-wedbush

Davit Kirakosyan

Financial Modeling Prep

First Republic Bank Reported Q3 Results, With Remaining Robust Growth Outlook Despite the Prospect of Rising Rates

2021-10-14 20:32:00

<p><a href='https://financialmodelingprep.com/financial-summary/FRC'>First Republic Bank (NYSE:FRC) </a>reported its Q3 results, with GAAP EPS coming in at $1.91, beating the consensus estimate of $1.84.</p> <p>The quarterly fundamentals trends were solid with average loans up 23% year-over-year, average deposits up 40% year-over-year, and net interest income up 27% year-over-year. </p> <p>The company reiterated its full 2021-year guidance, including loan growth in the mid-teens. The company also implied that loan growth for 2022 could also be in the mid-teens range, which is viewed positively by the analysts at Wedbush, given investors may have been concerned that management could lower its growth expectations given the prospect of rising rates.</p>

NYSE:FRC

https://financialmodelingprep.com/market-news/fmp-first-republic-bank-reported-q3-results-with-remaining-robust-growth-outlook-despite-the-prospect-of-rising-rates

Davit Kirakosyan

Financial Modeling Prep

Takeaways From Asana Virtual Meeting by Berenberg Bank

2021-10-14 20:26:00

<p>Analysts at Berenberg Bank recently hosted Tim Wan, the CFO of <a href='https://financialmodelingprep.com/financial-summary/ASAN'>Asana, Inc. (NYSE:ASAN)</a>, for a virtual day of meetings. </p> <p>According to the analysts, most investor questions targeted the competitive landscape, future product strategy, and go-to-market investments. Despite the company’s shares being up 285% since the start of the year, the analysts remain positive on the stock, given its relatively unpenetrated $50 billion market opportunity and large deal momentum, which they believe could potentially sustain growth of over 30-40% levels in mid-term. </p> <p>The brokerage said that if growth accelerates to 47% over the next 4 years as previously was mentioned in its bull case scenario, it expects the company’s shares to reach $200.</p>

NYSE:ASAN

https://financialmodelingprep.com/market-news/fmp-takeaways-from-asana-virtual-meeting-by-berenberg-bank

Davit Kirakosyan

Financial Modeling Prep

Binance Launches $1 Billion Fund

2021-10-13 16:27:00

<p>Binance announces the launch of its $1 billion fund with an aim to boost the adoption of its Smart Chain, which was launched in September 2020.</p> <p>According to the company, this is “the biggest funding program of its kind in the whole cryptocurrency industry”, which not only will push the adoption of its Binance Smart Chain’s (BSC) adoption, which has over 1 million daily active users, but also the whole blockchain industry.</p> <p>The fund will be divided into four categories, with $100 million allocated for talent development, and for the liquidity incentive program each, $300 million for the builder program, and $500 million for the investment & incubation program.</p>

BTCUSD

https://financialmodelingprep.com/market-news/fmp-binance-launches-$1-billion-fund

Davit Kirakosyan

Financial Modeling Prep

SAP SE Shares Up 5% Following Pre-Reported Q3 Results

2021-10-13 16:04:00

<p><a href='https://financialmodelingprep.com/financial-summary/SAP'>SAP SE (NYSE:SAP) </a>shares were trading 5% higher on Wednesday following the company’s pre-reported solid Q3 results, with total revenue/cloud revenue, non-IFRS operating margins, and EPS beating Street estimates.</p> <p>The company’s provided total revenue of €6.8 billion (up 5% year-over-year) came in better than the consensus estimate by around 170bps. Cloud revenue is €2.4 billion, growing 20% year-over-year and beating the Street estimate by around 130bps. </p> <p>The company provided its full 2021-year guidance, increasing its cloud revenue estimate to the range of €9.4–9.6 billion. </p> <p>According to the analysts at Oppenheimer, they are encouraged to see the acceleration of the current cloud backlog toward growth needed to obtain medium-term cloud targets (2025), and look forward to the company’s full results report on Oct 21 for more details.</p>

NYSE:SAP

https://financialmodelingprep.com/market-news/fmp-sap-se-shares-up-5-following-pre-reported-q3-results

Davit Kirakosyan

Financial Modeling Prep

Ardelyx Down 17%, FDA Probably Won’t Approve tenapanor

2021-10-13 16:01:00

<p><a href='https://financialmodelingprep.com/financial-summary/ARDX'>Ardelyx, Inc. (NASDAQ:ARDX) </a>shares were trading around 17% lower on Wednesday as the company is still struggling to find common ground with FDA concerning tenapanor.</p> <p>The company completed its Type A meeting with the FDA on Oct 1, the key takeaway from which is that the company doesn’t have a better understanding of FDA's concerns on how to define tenapanor's clinical significance and what constitutes a relevant treatment effect.</p> <p>Analysts at Wedbush provided their view on the situation, mentioning that they believe FDA is unwilling to approve tenapanor and doesn't seem interested in even supplying a framework to do so. As a result, the analysts update their model to remove tenapanor credit entirely and lower their price target on the company’s shares to $1 from $2.</p>

NASDAQ:ARDX

https://financialmodelingprep.com/market-news/fmp-ardelyx-down-17-fda-probably-won’t-approve-tenapanor

Davit Kirakosyan

Financial Modeling Prep

SMART Global Holdings Shares Up 18% Following Q4 Results

2021-10-13 15:59:00

<p><a href='https://financialmodelingprep.com/financial-summary/SGH'>SMART Global Holdings, Inc. (NASDAQ:SGH) </a>were trading more than 18% higher on Wednesday following the company’s reported solid Q4 results, with impressive gross margin improvement and generally in line revenue. </p> <p>The company’s gross margin improvement was well ahead of guidance and also ahead of the long-term financial framework set forth in the company’s analyst day in April. </p> <p>Analysts at Deutsche Bank view this improvement as a result of solid execution, favorable mix in IPS, and benevolent pricing in LED, mentioning they are encouraged with the transformation story of the company and see the potential for the stock to re-rate higher.</p>

NASDAQ:SGH

https://financialmodelingprep.com/market-news/fmp-smart-global-holdings-shares-up-18-following-q4-results

Davit Kirakosyan

Financial Modeling Prep

Aspen Technology Review Following the Deal With Emerson

2021-10-13 15:55:00

<p>Analysts at Berenberg Bank provided their view on <a href='https://financialmodelingprep.com/financial-summary/AZPN'>Aspen Technology, Inc. (NASDAQ:AZPN) </a>following the reverse merger deal with Emerson. The analysts believe the deal, valuing the company at $11 billion, will position the combined company to have one of the strongest assets in the space. </p> <p>According to the terms of the deal, Emerson will pay $87 and 0.43 of the new company share per existing share of Aspen, in return for 55% ownership. Emerson will contribute $6 billion cash in the form of special dividends and add OSI Inc. and Geological Simulation Software (GSS) assets the new company. The deal is expected to close in Q2/22.</p>

NASDAQ:AZPN

https://financialmodelingprep.com/market-news/fmp-aspen-technology-review-following-the-deal-with-emerson

Davit Kirakosyan

Financial Modeling Prep

Bitmex CEO Predicts 5 Countries to Accept Bitcoin as a Legal Tender by the end of 2021

2021-10-12 19:37:00

<p>Alex Hoeptner, the CEO of Bitmex, believes at least 5 developing countries will have accepted bitcoin by the end of 2021 as legal tender following El Salvador, which has become the first country to make bitcoin a legal tender. </p> <p>Hoeptner mentioned three key factors pushing developing countries to accept bitcoin as a legal tender:</p> <p>(1) Remittances. Ex. They constituted 23% of El Salvador’s GDP in 2020.</p> <p>(2) Inflation. IMF predicts a 5.4% inflation rate for developing countries for 2021.</p> <p>(3) Politics. Many politicians want to position themselves as progressive and new-age thinkers.</p>

BTCUSD

https://financialmodelingprep.com/market-news/fmp-bitmex-ceo-predicts-5-countries-to-accept-bitcoin-as-a-legal-tender-by-the-end-of-2021

Davit Kirakosyan

Financial Modeling Prep

Vroom Announces $300 Million Acquisition of United Auto Credit

2021-10-12 19:19:00

<p><a href='https://financialmodelingprep.com/financial-summary/VRM'>Vroom, Inc. (NASDAQ:VRM) </a>made an announcement on Tuesday, according to which it will acquire the leading non-prime auto finance company United Auto Credit for $300 million in cash, with the acquisition being immediately accretive and will close in either late Q4/21 or early Q1/22.</p> <p>The company will begin its first non-prime securitization in H1/22 and accelerate captive loan originations in H2/22.</p> <p>By integrating an automotive lender the company expects to be able to serve a wider breadth of customers, both prime and subprime, enabling the company to capture better loan economics, accelerate the move toward an auto average selling price more in line with peers and scale the business more quickly.</p>

NASDAQ:VRM

https://financialmodelingprep.com/market-news/fmp-vroom-announces-$300-million-acquisition-of-united-auto-credit

Davit Kirakosyan

Financial Modeling Prep

InMode Shares Up 8% on Q3 Guidance Raise

2021-10-12 19:17:00

<p><a href='https://financialmodelingprep.com/financial-summary/INMD'>InMode Ltd. (NASDAQ:INMD) </a>shares closed with an 8.62% gain on Tuesday following the company’s report on better-than-consensus Q3 revenue and EPS guidance.</p> <p>The company guided Q3 revenue in the range of $93.5-94 million, which represents approximately 57% year-over-year growth and is well above the consensus estimate of $74.9 million. The company expects Q3 non-GAAP EPS in the range of $0.53-0.54, implying 68-72% growth, beating the consensus estimate of $0.36. </p> <p>Analysts at Needham expect the launches of the company's EmpowerRF (gynecology) and EnvisionRF (ophthalmology) platforms to continue to drive very strong revenue growth and upside to consensus. </p>

NASDAQ:INMD

https://financialmodelingprep.com/market-news/fmp-inmode-shares-up-8-on-q3-guidance-raise

Davit Kirakosyan

Financial Modeling Prep

Aptiv PLC Lowers its 2021 Guidance

2021-10-12 19:15:00

<p>Analysts at Berenberg Bank commented on <a href='https://financialmodelingprep.com/financial-summary/APTV'>Aptiv PLC (NYSE:APTV) </a>lowered 2021 guidance, decreasing their price target on the company’s shares to $182 from $187, while reiterating their buy rating.</p> <p>The company lowered 2021 revenue guidance from $16.1 billion-16.4 billion to $15.1 billion-15.5 billion and adjusted operating margins from 9.9-10.2% to 7.6-8.4% on lower vehicle production. </p> <p>While the negative operating leverage on lower revenues is worse than the analysts anticipated, they believe the market has largely expected downward guidance revisions. In their view, the revision de-risks the upcoming earnings release and they would be buying on any share price weakness now that estimates have once again been re-based. </p>

NYSE:APTV

https://financialmodelingprep.com/market-news/fmp-aptiv-plc-lowers-its-2021-guidance

Davit Kirakosyan

Financial Modeling Prep

Looking Forward to JD.com Q3 Earnings Results

2021-10-12 19:13:00

<p>Analysts at Nomura increased their price target on <a href='https://financialmodelingprep.com/financial-summary/JD'>JD.com, Inc. (NASDAQ:JD) </a>to $95 from $88, while maintaining their buy rating. The brokerage believes the company may manage to deliver better-than-expected earnings and net margin in Q3 on smaller losses from its investments in new businesses, despite slower than expected ecommerce growth on macro headwinds. </p> <p>The analysts expect the company’s quarterly revenue to increase 22% year-over-year to CNY213 billion, which is slightly below the Street estimate of CNY220 billion. </p>

NASDAQ:JD

https://financialmodelingprep.com/market-news/fmp-looking-forward-to-jdcom-q3-earnings-results

Davit Kirakosyan

Financial Modeling Prep

Bitcoin ETF May Negatively Affect the Price

2021-10-11 20:25:00

<p>Last week, Dan Morehead, the CEO of Pantera Capital, published an investor’s note doubting the majority of crypto investors’ view that bitcoin exchange-traded fund (ETF) will significantly boost the price of the crypto. According to Morehead, it can negatively affect the price, mentioning that the “buy the rumor, sell the fact” line of thinking is working in the crypto space.</p> <p>Bitcoin price increased around 4% today, trading above $57,000.</p>

BTCUSD

https://financialmodelingprep.com/market-news/fmp-bitcoin-etf-may-negatively-affect-the-price

Davit Kirakosyan

Financial Modeling Prep

Oshkosh Corporation Made a Negative Q4 Preannouncement

2021-10-11 20:08:00

<p><a href='https://financialmodelingprep.com/financial-summary/OSK'>Oshkosh Corporation (NYSE:OSK) </a>announced its preliminary results for Q4/21, expecting quarterly revenue of approximately $2.05 billion and adj. EPS in the range of $0.90-0.95, well below the Street estimate of $2.11 billion and $1.79, respectively. The EPS estimate was also below the company’s Q4 guidance of $1.65-1.80. </p> <p>According to the brokerage, the negative preannouncement was not a surprise as it was driven by significant supply chain and logistics disruptions as well as material and freight cost inflation. </p> <p>The unavailability of parts has impacted the company's production, particularly in Access Equipment, and also contributed to labor inefficiencies. While the company expects its price actions to offset cost inflation, this will not begin to show up in the numbers until the second half of 2022.</p>

NYSE:OSK

https://financialmodelingprep.com/market-news/fmp-oshkosh-corporation-made-a-negative-q4-preannouncement

Davit Kirakosyan

Financial Modeling Prep

Albertsons Companies Downgraded to Perform at RBC Capital

2021-10-11 20:05:00

<p><a href='https://financialmodelingprep.com/financial-summary/ACI'>Albertsons Companies, Inc. (NYSE:ACI) </a>was downgraded to perform from outperform at RBC Capital, as the brokerage believes the upside case is already reflected in shares, noting that the company’s shares increased 59% since the start of the year compared to a 17% increase in the S&P 500.</p> <p>Looking forward to the upcoming Q2 earnings day (Oct 18), analysts at RBC Capital anticipate another beat-and-raise quarter, mentioning that they are focused on forward gross margin commentary and expect increasing GM headwinds.</p> <p>Despite moving to the sidelines, the analysts said they continue to positively view the turnaround efforts from the company’s management thus far and believe the long-term algorithm remains intact.</p>

NYSE:ACI

https://financialmodelingprep.com/market-news/fmp-albertsons-companies-downgraded-to-perform-at-rbc-capital

Davit Kirakosyan

Financial Modeling Prep

Carvana Upgraded to Outperform at Wedbush

2021-10-11 20:03:00

<p>Analysts at Wedbush upgraded <a href='https://financialmodelingprep.com/financial-summary/CVNA'>Carvana Co. (NYSE:CVNA) </a>to outperform from neutral, raising their price target to $360 from $350.</p> <p>The brokerage’s rating change was driven by the strong upside to near-term profitability from Retail and Finance gross profit per unit (GPU), combined with the recent stock price underperformance. The analysts reiterated their bullish view on near-term Retail GPU and Finance GPU from favorable market conditions and strong execution, noting that the company has built a very solid financing business, with profitability rising to record levels in Q2/21.</p>

NYSE:CVNA

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

Davit Kirakosyan

Financial Modeling Prep

Views on Dream Finders Homes Following Completion of the $471 Million MHI Transaction

2021-10-11 20:00:00

<p><a href='https://financialmodelingprep.com/financial-summary/DFH'>Dream Finders Homes, Inc. (NASDAQ:DFH) </a>completed the acquisition of the assets of privately held (MHI) for $471 million in cash on Oct 5. The company gains three new markets (DFW, Houston, and San Antonio) as a result of this transaction and is reloaded in Austin where it has existing operations.</p> <p>Given the above, analysts at Wedbush view this as a unique opportunity that should be beneficial to the company over the long term. The analysts believe Texas is still experiencing covid migration as well as corporations expanding to or transferring their operations to the Lone Star state which should provide a consistent source of demand for new housing.</p>

NASDAQ:DFH

https://financialmodelingprep.com/market-news/fmp-views-on-dream-finders-homes-following-completion-of-the-$471-million-mhi-transaction

Davit Kirakosyan

Financial Modeling Prep

Soros Fund Management Has Also Invested in Bitcoin

2021-10-08 14:07:00

<p>Bitcoin continues to trade around $54,000 today following its solid upsurge since the start of the month.</p> <p>Dawn Fitzpatrick, the CEO and CIO of Soros Fund Management, founded by billionaire investor George Soros, said that they have also invested in Bitcoin and other digital currencies, as cryptos has gone mainstream and are not only viewed as an inflation hedge.</p> <p>In March, Fitzpatrick commented on CBDCs, viewing them as a potential threat to Bitcoin, however noting that the threat will be temporary as she believes CBDCs won’t be successful in permanently destabilizing bitcoin.</p>

BTCUSD

https://financialmodelingprep.com/market-news/fmp-soros-fund-management-has-also-invested-in-bitcoin

Davit Kirakosyan

Financial Modeling Prep

Allogene Therapeutics Shares Plunged 45% Following FDA’s Hold on AlloCAR T

2021-10-08 13:06:00

<p><a href='https://financialmodelingprep.com/financial-summary/ALLO'>Allogene Therapeutics, Inc. (NASDAQ:ALLO) </a>shares dropped more than 45% on Friday following the U.S. Food and Drug Administration’s (FDA) halt on the company’s AlloCAR T clinical trials after the detection of AlloCAR cells with chromosomal abnormality in a single patient treated with ALLO-501A. </p> <p>Rafael Amado, Executive Vice President of Research and Development and Chief Medical Officer of Allogene, said that they will work closely with the FDA to determine the next steps for advancing ALLO-501A. As the company investigates the issue, the analysts at Oppenheimer think that there will be delayed development timelines for key programs including ALLO-501A and ALLO-715, estimating the holds to range from 3 to 6 months.</p> <p>Following this announcement, the analysts lowered their price target on the company’s shares to $40 from $44, while maintaining their outperform rating.</p>

NASDAQ:ALLO

https://financialmodelingprep.com/market-news/fmp-allogene-therapeutics-shares-plunged-45-following-fda’s-hold-on-allocar-t

Davit Kirakosyan

Financial Modeling Prep

Merck & Co Price Target Raised at Berenberg, Encouraged by Positive Direction

2021-10-08 13:02:00

<p>Analysts at Berenberg Bank provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/MRK'>Merck & Co., Inc. (NYSE:MRK)</a>, increasing their price target on the company’s shares to $92 from $86, while maintaining their hold rating.</p> <p>The price target change was due to a 4-10% increase in the brokerage’s EPS forecasts, which was based on (1) positive data for molnupiravir in COVID-19 treatment, (2) a reduction in Pneumovax/Vaxneuvance sales, more than offset by an increase in Gardasil sales, and (3) the Acceleron acquisition.</p> <p>While the analysts said they are overall encouraged by the positive direction of travel, they believe more steps are needed to overcome the concentration risk of Keytruda (46% of NPV), with Keytruda adjuvant and/or combination studies’ risk of failure or competitors’ reaching of the market sooner.</p>

NYSE:MRK

https://financialmodelingprep.com/market-news/fmp-merck-&-co-price-target-raised-at-berenberg-encouraged-by-positive-direction

Davit Kirakosyan

Financial Modeling Prep

RPM International’s Q1 Results Review

2021-10-08 12:58:00

<p><a href='https://financialmodelingprep.com/financial-summary/RPM'>RPM International Inc. (NYSE:RPM) </a>reported its Q1 results, with EPS coming in at $1.08, beating the consensus estimate of $1.04.</p> <p>The company provided its outlook on Q2 and full 2022-year, expecting double-digit growth in sales year-over-year in CPG, PCG and Specialty (approximately 65% of total sales), partially offset by Consumer’s double-digit year-over-year decrease driven by tough comps and raw material availability headwinds, which should negatively impact total company sales by approximately $200 million in Q2.</p> <p>Analysts at RBC Capital provided their outlook on the company following the quarterly results. They slightly lowered their price target on the company’s shares to $87 from $89, but maintained their sector perform rating. The analysts lowered their near-term estimates on the industry-wide supply chain headwinds and raw material inflation. According to the brokerage, the demand appears to remain strong and, therefore, it doesn’t expect the majority of lost sales to be deferred into later quarters.</p>

NYSE:RPM

https://financialmodelingprep.com/market-news/fmp-rpm-international’s-q1-results-review

Davit Kirakosyan

Financial Modeling Prep

Highlights from VMworld 2021 by RBC Capital

2021-10-08 12:48:00

<p>Analysts at RBC Capital provided their key takeaways from <a href='https://financialmodelingprep.com/financial-summary/VMW'>VMware, Inc.’s (NYSE:VMW) </a>VMworld 2021. According to the brokerage, which reiterated its outperform rating and $180 price target on the company, the key highlights from the event were (1) the strategy around the next phase of growth including additional support of multi-cloud environments and an increasing mix of subscription and SaaS, (2) Project Arctic, which natively integrates cloud connectivity into on-premise vSphere deployments, (3) 2025 targets that follow an inflection in subscription and SaaS, and (4) reiteration of early November as the target for the spin-off from Dell. </p>

NYSE:VMW

https://financialmodelingprep.com/market-news/fmp-highlights-from-vmworld-2021-by-rbc-capital

Davit Kirakosyan

Financial Modeling Prep

Takeaways From Marvel Investor Day

2021-10-08 06:55:00

<p>Marvell Technology, Inc. <a href='https://financialmodelingprep.com/financial-summary/MRVL'> (NASDAQ:MRVL) </a>hosted an impressive deep dive analyst day on Wednesday, marked by an overall bullish tone as management raised its long-term annual revenue growth outlook to 15-20% from 12-16% post-IPHI. This outsized growth is led by the cloud as the company executes its cloud-optimized silicon strategy. </p> <p>Management is expecting overall SAM to increase at 13% CAGR, from $20 billion in 2021 to $30 billion in 2024, with Cloud/5G/Auto SAM expected to grow above 20% CAGR to $19 billion in 2024. Enterprise and Consumer CAGR 4%/6% to $9 billion/$2 billion respectively by 2024. The Gross Margin target was slightly raised to 65%. There is a mix improving as cloud/5G/auto revenues accelerate.</p>

NASDAQ:MRVL

https://financialmodelingprep.com/market-news/fmp-takeaways-from-marvel-investor-day

Davit Kirakosyan

Financial Modeling Prep

Extra Space Storage Initiated at Berenberg Bank With Buy Rating

2021-10-08 06:48:00

<p>Analysts at Berenberg Bank started coverage on <a href='https://financialmodelingprep.com/financial-summary/EXR'>Extra Space Storage Inc. (NYSE:EXR) </a>with a buy rating and $198 price target, mentioning that the company is the second-largest domestic owner and operator of self-storage facilities and has multiple growth channels to continue expanding its investment footprint.</p> <p>According to the brokerage, the company has a flexible investment strategy with wholly-owned self-storage properties, joint ventures, third-party managed properties, and equity investments, noting that the company was the first self-storage operator to start a third-party management platform, and now utilizes its management platform with its JV investments.</p> <p>The analysts anticipate management platform and the competitive advantage afforded by its technology will continue to generate attractive returns for the company.</p>

NYSE:EXR

https://financialmodelingprep.com/market-news/fmp-extra-space-storage-initiated-at-berenberg-bank-with-buy-rating

Davit Kirakosyan

Financial Modeling Prep

IAC Shares Up 7% After Announcing Plans to Acquire Meredith for $2.7 Billion

2021-10-08 06:46:00

<p><a href='https://financialmodelingprep.com/financial-summary/IAC'>IAC/InterActiveCorp (NASDAQ:IAC) </a>shares closed with a 7.78% gain on Thursday following the company’s announcement, according to which it plans to acquire Meredith Corp's National Media Group (its digital media and print businesses), and merge it with its Dotdash publishing unit. </p> <p>The terms of the deal are quite attractive for the company, and the combination is squarely in the company's wheelhouse of digital transformation. Meredith is approximately 8x/4x larger than Dotdash in terms of revenue and Adj. EBITDA, respectively. The combined entity will become the largest contributor to both the company's revenue and Adj. EBITDA. </p> <p>The deal will be funded with cash and up to $1.6 billion of debt. Despite the size of the acquisition, management is confident the deal would not limit the ability to participate in further acquisitions which remains an important part of the company’s growth story.</p>

NASDAQ:IAC

https://financialmodelingprep.com/market-news/fmp-iac-shares-up-7-after-announcing-plans-to-acquire-meredith-for-$27-billion

Davit Kirakosyan

Financial Modeling Prep

Silicon Motion Technology Announces Preliminary Q3 Results

2021-10-08 06:45:00

<p><a href='https://financialmodelingprep.com/financial-summary/SIMO'>Silicon Motion Technology Corporation (NASDAQ:SIMO) </a>announced preliminary results for Q3, lifting its quarterly revenue guidance to slightly exceed the high end of the company's original forecast, which ranges from $238 million to $249 million. The company expects Gross Margins to be above 50% and at the high end of the original guide of 48.5% - 50.5%. </p> <p>Analysts at Wedbush provided a quick note on the preliminary results, mentioning that the company's revised outlook fits with the strength just reported by Phison and their view that Chinese handset demand is good, while corporate PC demand is strong with shipments constrained by manufacturers' ability to ship parts.</p> <p>Wedbush reiterated its outperform rating and $100 price target on the company’s shares.</p>

NASDAQ:SIMO

https://financialmodelingprep.com/market-news/fmp-silicon-motion-technology-announces-preliminary-q3-results

Davit Kirakosyan

Financial Modeling Prep

Speculators Expect Bitcoin ETF to be Approved by the End of the Month

2021-10-08 06:44:00

<p>Many speculators, including Eric Balchunas from Bloomberg, anticipate the approval of Bitcoin ETF as soon as the end of this month. Bitcoin price crosses $55,000 yesterday, which many believe, is due to the rumors that an ETF may get the green light from SEC in the near future with some promising comments from SEC Chair Gary Gensler.</p>

BTCUSD

https://financialmodelingprep.com/market-news/fmp-speculators-expect-bitcoin-etf-to-be-approved-by-the-end-of-the-month

Davit Kirakosyan

Financial Modeling Prep

Bitcoin Above $55,000. Highest since May

2021-10-06 20:04:00

<p>Bitcoin price rose more than 7% today hitting above $55,000 levels, the highest price since May 2021.</p> <p>According to Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), Central Bank Digital Currencies (CBDCs) are the most reliable form of digital money, noting that viewing Bitcoin as money is very hard.</p> <p>Note, that 110 countries, among the members of the IMF, are exploring CBDCs, with the biggest challenge for the authorities, according to Georgieva, being the guarantee of the interoperability of these digital currencies.</p>

BTCUSD

https://financialmodelingprep.com/market-news/fmp-bitcoin-above-$55000-highest-since-may

Davit Kirakosyan

Financial Modeling Prep

Cerence Upgraded to Outperform at RBC Capital

2021-10-06 19:52:00

<p>Analysts at RBC Capital upgraded <a href='https://financialmodelingprep.com/financial-summary/CRNC'>Cerence Inc. (NASDAQ:CRNC) </a>to outperform from sector perform, lowering their price target to $110 from $112.</p> <p>According to the brokerage the company’s stock sell-off from its 8/11 high, which is mostly macro concern related (auto concerns and SaaS/software decline), looks overdone. The analysts see little change to the long-term story and believe the path to 2024 targets of $700 million in revenue and $260 million in EBITDA is there and see potential upside to the targets. As such, they view the current level as attractive for long-term investors.</p>

NASDAQ:CRNC

https://financialmodelingprep.com/market-news/fmp-cerence-upgraded-to-outperform-at-rbc-capital

Davit Kirakosyan

Financial Modeling Prep

PepsiCo Shares Up Following Strong Q3 Results

2021-10-06 19:49:00

<p><a href='https://financialmodelingprep.com/financial-summary/PEP'>PepsiCo, Inc. (NASDAQ:PEP) shares closed with a 2.56% gain on Wednesday following the company’s reported Q3 results, delivering an impressive beat and raise quarter in a difficult operating environment. </p> <p>The company posted quarterly EPS of $1.79, better than the consensus estimate of $1.73, and revenue of $20.19 billion, compares to the Street estimate of $19.39 billion.</p> <p>Total company organic sales grew +9% (vs. Street estimate of +5.5%), which equates to +6.6% on a 2-year average basis – a 20 bps sequential acceleration from the June quarter. The upside surprise was driven by organic sales meets or beats across all reporting segments, with sizable over-delivery in Latam, AMESA, APAC, and Europe.</p> <p>The company has proven its ability to execute amid volatility, but between rising cost pressure and reinvestment spend, there is little room for EPS upside relative to where consensus is.</p>

NASDAQ:PEP

https://financialmodelingprep.com/market-news/fmp-pepsico-shares-up-following-strong-q3-results

Davit Kirakosyan

Financial Modeling Prep

Takeaways From Monday.com’s Elevate Conference

2021-10-06 19:47:00

<p>Analysts at Berenberg Bank attended the Elevate conference hosted by <a href='https://financialmodelingprep.com/financial-summary/MNDY'>monday.com Ltd. (NASDAQ:MNDY) </a>on October 5, where the company highlighted its product roadmap into 2022. The enhancements add new collaboration features (workdocs/ workflows at scale) and increase the number of apps while also introducing new enterprise and vertical-specific solutions. </p> <p>The analysts believe the company should continue innovating and responding to customer feedback as it seeks to differentiate itself from the growing number of work management platforms. Note, that the competitor Asana released new products at its Focus and Flow summit in June and will likely present more functionalities at its Enterprise Summit on October 20. </p> <p>According to the brokerage, the company’s enhancements announced at the conference help better address enterprise clients and add to the vertical solutions that differentiate it from peers. The brokerage remains positive on the company, reiterating its buy rating and $350 price target.</p>

NASDAQ:MNDY

https://financialmodelingprep.com/market-news/fmp-takeaways-from-mondaycom’s-elevate-conference

Davit Kirakosyan

Financial Modeling Prep

Berenberg Bank Started Coverage on Arrival With Buy Rating and $17 Price Target

2021-10-06 19:45:00

<p>Analysts at Berenberg Bank initiated coverage on <a href='https://financialmodelingprep.com/financial-summary/ARVL'>Arrival (NASDAQ:ARVL)</a>, an electric commercial van and bus manufacturer that de-SPACed in March 2021, with a buy rating and a $17 price target.</p> <p>According to the analysts, the company is differentiated by its innovative new approach to manufacturing electric vehicles through a highly automated and vertically integrated microfactory model. The Arrival micro-factories will require less CAPEX, lower operating costs, and a shorter time to produce than traditional plants while enabling production flexibility and localizing the manufacturing footprint. </p> <p>While there is an inherent risk associated with a pre-revenue and pre-production company, the company has spent years developing its vehicle architecture and microfactory model and has visibility to several key milestones over the next 12- 18 months with the potential to disrupt the legacy automotive model.</p>

NASDAQ:ARVL

https://financialmodelingprep.com/market-news/fmp-berenberg-bank-started-coverage-on-arrival-with-buy-rating-and-$17-price-target

Davit Kirakosyan

Financial Modeling Prep

Bitcoin Over $51,000; Snowden Says Bitcoin is 10x since its First Tweet About the Crypto

2021-10-05 20:56:00

<p>Bitcoin reached the $50,000 level today, hitting the day high of $51,434. Edward Snowden, privacy activist and whistleblower, said that bitcoin is up 10x since his tweet on March 13, 2020, which was about his thoughts on buying the cryptocurrency. Snowden mentioned that Bitcoin is stronger in spite of the fact that governments try to undermine the public perception and support for cryptos.</p>

BTCUSD

https://financialmodelingprep.com/market-news/fmp-bitcoin-over-$51000;-snowden-says-bitcoin-is-10x-since-its-first-tweet-about-the-crypto

Davit Kirakosyan

Financial Modeling Prep

Main Street Capital Corporation Initiated at Oppenheimer With Perform Rating

2021-10-05 20:45:00

<p>Analyst at Oppenheimer initiated coverage on <a href='https://financialmodelingprep.com/financial-summary/MAIN'>Main Street Capital Corporation (NYSE:MAIN) </a>with perform rating and a $39 price target. </p> <p>The company is an internally managed BDC primarily focused on providing customized debt and equity financing to lower middle-market companies and debt capital to middle-market companies. </p> <p>The analysts are forecasting EPS of $3.49 and $2.58 for 2021 and 2022, respectively, implying an ROE of 15.6% and 10.8%. Their 2021 estimate includes actual net realized/unrealized gains and losses while their 2022 estimate does not. The brokerage projects that the company can earn a 14% ROE, and given an estimated cost of equity capital of 8.5%, they calculate a fair value of $39/share.</p>

NYSE:MAIN

https://financialmodelingprep.com/market-news/fmp-main-street-capital-corporation-initiated-at-oppenheimer-with-perform-rating-

Davit Kirakosyan

Financial Modeling Prep

McDonald's Corporation Q3 Preview by Deutsche Bank

2021-10-05 20:40:00

<p>Analysts at Deutsche Bank provided their preview on <a href='https://financialmodelingprep.com/financial-summary/MCD'>McDonald's Corporation (NYSE:MCD) </a>Q3 release, increasing their price target to $265 from $264 and reiterating their buy rating. </p> <p>According to the brokerage, current investor expectations call for an approximately 10%+ SSS result in the U.S., which compares to the current consensus of +8.1%. On the company's Q2 earnings conference call, management indicated that the two-year SSS trend might "moderate a little bit," which is likely why the current consensus is set the way it is. </p> <p>The brokerage expects a stable to modestly accelerating U.S. two-year SSS trend, and a likely need for upward revisions for the Q4 time period as well (where consensus currently sits at +6.1%).</p>

NYSE:MCD

https://financialmodelingprep.com/market-news/fmp-mcdonalds-corporation-q3-preview-by-deutsche-bank

Davit Kirakosyan

Financial Modeling Prep

Wedbush Initiated Coverage on 18 stocks in Footwear and Apparel Sector

2021-10-05 20:37:00

<p>Wedbush provided an industry note on Footwear and Apparel Sector, mentioning that there are lots of tailwinds to the space from a demand perspective, given a healthy consumer, easy Q4 compares (particularly in Europe), and a potential return of foreign tourism.</p> <p>Many retailers have seen sales exceed pre-COVID levels YTD, many wholesale businesses are still lagging behind due to conservative inventory management by retailers. With strong sell-through trends and lean inventory levels, the analysts think many wholesale brands will benefit from a restocking cycle over the next 12-18 months.</p>

https://financialmodelingprep.com/market-news/fmp-wedbush-initiated-coverage-on-18-stocks-in-footwear-and-apparel-sector

Davit Kirakosyan

Financial Modeling Prep

The Duckhorn Portfolio Shares Down 8% Despite Strong Q4 Results

2021-10-05 20:35:00

<p><a href='https://financialmodelingprep.com/financial-summary/NAPA'>The Duckhorn Portfolio, Inc. (NYSE:NAPA) </a>closed with an 8.63% loss on Tuesday despite the company’s reported strong Q4 results.</p> <p>The company delivered meaningful beats across metrics and issued encouraging initial full 2022-year guidance. </p> <p>The company’s net sales increased 35.7% year-over-year, well exceeding the consensus expectations of 14.9% growth. However, the company suggested wine category growth has slowed in recent weeks.</p>

NYSE:NAPA

https://financialmodelingprep.com/market-news/fmp-the-duckhorn-portfolio-shares-down-8-despite-strong-q4-results

Davit Kirakosyan

Financial Modeling Prep

Bitcoin Approaches $50,000 again. Kevin O’Leary on his Crypto Portfolio

2021-10-04 21:20:00

<p>Bitcoin was trading more than 3% higher today, reaching the day high of $49,683. The cryptocurrency sharply recovered since Sept 29 when it was trading around $40,000-$41,000.</p> <p>Kevin O’Leary from Shark Tank tweeted he now owns more crypto than gold in his portfolio, hoping to reach a 7% crypto allocation level in the coming months. He said that this is the first time his crypto exposure is bigger than the gold exposure, noting that he doesn’t see a situation where crypto is ever going away.</p>

BTCUSD

https://financialmodelingprep.com/market-news/fmp-bitcoin-approaches-$50000-again-kevin-o’leary-on-his-crypto-portfolio

Davit Kirakosyan

Financial Modeling Prep

Tesla Review Following Q3 Delivery Numbers

2021-10-04 21:03:00

<p>Daniel Ives from Wedbush provided company report on <a href='https://financialmodelingprep.com/financial-summary/TSLA'>Tesla, Inc. (NASDAQ:TSLA) </a>following the company’s announced Q3 delivery numbers. </p> <p>The company delivered 241,000 vehicles during the quarter, beating the consensus estimate of 221,000 and even the bull case whisper numbers, which ranged from 225,000 to 230,000. </p> <p>According to the analyst, the outperformance during the quarter was driven by robust Model 3/Y sales of 232,000 (vs. Street of 211,000) and Model S/X of 9,000 (vs. Street of 10,000). Total production in the quarter was 238,000 and was roughly 10,000 ahead of Wedbush’s and Street estimates.</p> <p>The analyst believes in the month of September alone Tesla delivered roughly 150,000 vehicles and is a vivid sign of “this green tidal wave taking hold for Musk & Co” across the board. He believes China demand rebounded in the quarter and will be a focus for the bulls digesting these results.</p>

NASDAQ:TSLA

https://financialmodelingprep.com/market-news/fmp-tesla-review-following-q3-delivery-numbers

Davit Kirakosyan

Financial Modeling Prep