Microsoft to Invest Over $3 Billion to Build AI in Wisconsin — WSJ

By Tom Dotan Microsoft said it is investing billions of dollars on artificial intelligence in Wisconsin, the latest stop in a global spending spree to build AI infrastructure and calm fears about the powerful technology. President Biden is scheduled to be in Mount Pleasant, Wis., on Wednesday along with Microsoft President Brad Smith to announce the $3.3 billion investment in a new data center there and training programs to educate locals about AI jobs in manufacturing. The announcement is the latest in a series of large investments the company has unveiled in the U.S., Europe and Asia to expand the reach of its AI network. Microsoft said the new site would initially create 2,300 construction jobs and eventually as many as 2,000 data center jobs. Microsoft said it is also investing in a new AI lab at the University of Wisconsin Milwaukee campus to train workers to use AI technology. […]

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CFRA Maintains Buy Opinion On Shares Of Apple Inc.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: AAPL is fully revamping its iPad line-up with a larger 13-inch iPad Air and new M4 chips (from M2) for iPad Pros. The Pros also possess a better Tandem OLED display panel and have better camera features (11-inch at $999, up from $799; 13-inch at $1,299, up from $1,099). The iPad Air devices get the M2 (11-inch $599, 13-inch $799), while AAPL also announced a new Apple Pencil Pro ($129) with haptic feedback and enhanced Magic Keyboard. All devices can be ordered today/available May 15 (storage for Pros start at 256GB/Air at 128GB). We believe the M4 release less than seven months after the M3 (inside Macs) indicates how AAPL is looking to accelerate hardware capabilities to meet potential new AI apps/software capabilities (eyes on WWDC) and

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Moderna Swings to 1Q Loss Amid Big Revenue Drop

Moderna is one of the most mentioned companies in the U.S. across all news items in the past 12 hours, according to Factiva data. Moderna swung to a first-quarter loss of $1.18 billion, or $3.07 a share, from a profit of $79 million, or 19 cents a share, a year earlier. Analysts had forecast a loss of $3.56 a share, on average, according to data provided by FactSet. First-quarter revenue plunged by 91% to $167 million, which still surpassed the average Wall Street target of $93 million. At the peak of the pandemic, in 2022, Moderna generated $19.3 billion in revenue. Dow Jones & Co. owns Factiva.

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Moderna Maintains Full-Year Sales Guidance Following First-Quarter Beat

Moderna (MRNA) on Thursday reported a smaller-than-expected loss for the first quarter, while the drugmaker affirmed its full-year revenue outlook. The company posted a loss of $3.07 a share for the March quarter, compared with earnings of $0.19 the year before. The consensus on Capital IQ was for a per-share loss of $3.57. The stock was up 6.5% in Thursday trade. Overall revenue plunged to $167 million from $1.86 billion, but was ahead of the Street’s view for $94.3 million. Product sales tanked 91% primarily driven by lower sales volume of the company’s Spikevax COVID-19 vaccine outside the US, Chief Financial Officer James Mock said during a conference call, according to a Capital IQ transcript. “This decline aligns with the anticipated transition of the COVID-19 vaccine market or it’s a seasonal pattern, whereas in the first quarter of 2023, we primarily delivered doses that were deferred from 2022,” according to

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Howmet Expects Boeing To Cut Supplier Demand

Howmet CEO John Plant says he expects Boeing to trim suppliers’ orders toward lower production rates this year as the plane maker reverses a pledge to keep demand above current airplane output. “We had to completely redo our year,” says Plant on an investor call. He says it’s pivoting resources towards more output for Airbus jets, defense products and wheels for commercial trucks. He cautions this could change if Boeing and engine suppliers GE and Safran actually boost production. While wide-body demand is increasing, Plant says Howmet has cut its assumption for monthly 787 output to five from six, still above current build rates. Howmet surges nearly 14% to $75.95, and on pace for largest percent increase since November 9, 2020, when it rose 18.99%.

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Qualcomm (QCOM) Q2 2024 Earnings Call Transcript

Qualcomm (QCOM)Q2 2024 Earnings CallMay 01, 2024, 4:45 p.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks:   Operator Ladies and gentlemen, thank you for standing by. Welcome to the Qualcomm second quarter fiscal 2024 earnings conference call. At this time, all participants are in listen-only mode. Later, we’ll conduct a question-and-answer session. [Operator instructions] As a reminder, this conference is being recorded, May 1st, 2024. The playback number for today’s call is 877-660-6853. International callers, please dial 201-612-7415. The playback reservation number is 13745532. I would now like to turn the call over to Mauricio Lopez-Hodoyan, vice president of investor relations. Mr. Lopez-Hodoyan, please go ahead. Mauricio Lopez-Hodoyan — Vice President, Investor Relations Thank you, and good afternoon, everyone. Today’s call will include prepared remarks by Cristiano Amon and Akash Palkhiwala. In addition, Alex Rogers will join the question-and-answer session. You can access our earnings release and a slide presentation

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ConocoPhillips (COP) Q1 2024 Earnings Call Transcript

ConocoPhillips (COP)Q1 2024 Earnings CallMay 02, 2024, 12:00 p.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks:   Operator Welcome to the first quarter 2024 ConocoPhillips earnings conference call. My name is Liz, and I will be your operator for today’s call. At this time, all participants are in a listen-only mode. Later, we will conduct the question-and-answer session. [Operator instructions] I will now turn the call over to Phil Gresh, vice president, investor relations. Sir, you may begin. Phil Gresh — Vice President, Investor Relations Thank you, Liz, and welcome, everyone, to our first quarter 2024 earnings conference call. On the call today, we have several members in the ConocoPhillips’ leadership team, including Ryan Lance, chairman and CEO; Tim Leach, advisor to the CEO; Bill Bullock, executive vice president and chief financial officer; Andy O’Brien, senior vice president of strategy, commercial sustainability and technology; Nick Olds, executive vice president of

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Albemarle (ALB) Q1 2024 Earnings Call Transcript

Albemarle (ALB)Q1 2024 Earnings CallMay 02, 2024, 9:00 a.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks:   Operator Hello and welcome to Albemarle Corporation’s Q1 2024 earnings call. I will now hand it over to Meredith Bandy, vice president of investor relations and sustainability. Meredith Bandy — Vice President, Investor Relations and Sustainability Thank you. Welcome everyone to Albemarle’s first-quarter 2024 earnings conference call. Our earnings were released after the close of market yesterday, and you’ll find the press release and earnings presentation posted to our website under the Investor Section at albemarle.com. Joining me on the call today are Kent Masters, chief executive officer; and Neal Sheorey, chief financial officer. Netha Johnson, president of Specialties; and Eric Norris, president of Energy Storage are also available for Q&A. As a reminder, some of the statements made during this call, including our outlook, guidance, expected company performance, and timing of expansion

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Moderna (NASDAQ:MRNA) Q1 2024 Earnings Conference

The following is a summary of the Moderna, Inc. (MRNA) Q1 2024 Earnings Call Transcript: Financial Performance: Moderna reported Q1 2024 revenues of $167 million, mainly from respiratory vaccine sales. The company noted a net loss of $1.2 billion for the quarter. There was a significant reduction in operating expenses by almost $800 million compared to Q1 2023. Moderna’s cash and investments totaled $12.2 billion by the end of the quarter. Year-over-year reductions in R&D expenses ($1.1 billion) and a 10% decrease in SG&A expenses were witnessed. -Moderna predicts annual net sales for 2024 to be roughly $4 billion and expects cost of sales to be about 35% of product sales. The company anticipates ending the year with approximately $9 billion in cash. Business Progress: Moderna has advanced several clinical programs, particularly in vaccines, with data presented on Epstein-Barr Virus (EBV), Varicella Zoster Virus (VZV), and Norovirus. Expansion of studies

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How Mastercard’s Q1 Results Compare With Rival Visa: 3 Analysts Provide Their Takes

Mastercard Inc (NYSE:MA) shares came under pressure in early trading on Thursday after the company reported its first-quarter results. The results came amid an exciting earnings season. Here are some key analyst takeaways from the release. Goldman Sachs On Mastercard Analyst Will Nance maintained a Buy rating while reducing the price target from $534 to $517. Investors expected “more resilient trends” from Mastercard’s results, Nance said in a note. The company’s quarterly results were similar to Visa Inc’s (NYSE:V) report, “in that ROW volumes underperformed, notably in APAC, but also more idiosyncratically in Europe, where MA continues to lap large deal implementations,” he added. The company guided to “high end of HSD net revenue growth (vs consensus +21.4% yoy), with -2% FX impact (low-end of LDD on a CC basis, ex acquisitions)” for the second quarter, the analyst wrote. For the full year, Mastercard expects “low-end of low double digit net revenue growth (vs 12%

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Estee Lauder’s Weak 2H Outlook Erases Year-to-Date Run

Estée Lauder had a big 3Q earnings beat, but its 2H outlook overwhelmed investors, Raymond James analyst Olivia Tong says in a research note. The beauty brands conglomerate shift in marketing expenses to 4Q from 3Q muted the impact of the beat on the FY results, leading to a 13% stock drop on Wednesday, erasing its year-to-date gains. “The hill Estée Lauder must climb to restore investor confidence just got higher given flat U.S. sales and a slower than expected ramp in China,” the analyst says. Tong sees a number of positive factors over the next 12 months, including a higher midpoint of the FY24 EPS outlook and better U.S. distribution. Shares rise 4.7%.

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CFRA Keeps Buy Recommendation On Shares Of Moody’s Corporation

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We maintain our target price at $460, on a forward P/E of 36.3x our 2025 earnings estimate, a premium to MCO’s three- and 10-year forward historical averages of 31.9x and 26.4x, respectively, given an improving margin profile and expectations for rapid earnings growth. We increase our 2024 EPS estimate by $0.28 to $11.42 and raise 2025’s by $0.05 to $12.68. MCO posted Q1 adjusted EPS of $3.37 versus $2.99, $0.35 above consensus on revenue of $1.79B (6% above consensus). Leading the outperformance was MIS (the ratings segment), which saw revenue surge 35% Y/Y to $987M, the second highest level on record. However, 8% growth in MA (the analytics segment) disappointed given weakness in Research & Insights. Still, MCO kept its operating expenses (+8%) in check; thus, the

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