Disney CEO Iger Says Right Now Trending To Exceed Fiscal 2024 Cash Flow Generation Guidance; On Streaming Business Says ‘We Are On A Path To Profitability’.
Disney CEO Iger Says Expects That Making Hulu Content Available On Disney+ For Bundle Subscribers Will Generate Positive Outcomes For The Business; Says We’re Also Managing Our Costs More Aggressively At Film Studios.
Disney CEO Iger Says ‘We Have Great People Running Our Four Key Businesses And We’ve Strengthened Our Executive Team Significantly’.
Disney CEO Iger Says Co Plans To Turbocharge Growth With About $60B Investment Over Next Decade In Expanding Domestic & International Parks, Disney Cruise Line.
Disney CEO Iger Says ESPN To Continue To ‘Take Advantage Of Linear In Terms Of Rev And Profits That It Generates,’ While Making Transition To Streaming.
Marvell Technology’s (MRVL) fiscal first-quarter outlook was well short of expectations, though the semiconductor solutions provider is likely to stage a “material snapback,” aided by strong prospects in its cloud custom silicon business, Morgan Stanley said Friday. Late Thursday, the company said it expected first-quarter adjusted earnings of $0.23 a share, plus or minus $0.05, and net revenue of $1.15 billion, plus or minus 5%. Morgan Stanley was looking for $0.43 and $1.40 billion, respectively. Sequentially, Marvell sees consumer, carrier, and enterprise networking sales slumping by 70%, 50%, and 40%, respectively, Chief Executive Matt Murphy said on an earnings conference call late Thursday, according to a Capital IQ transcript. The company’s shares were down nearly 11% in late Friday afternoon trade. Although the magnitude of the outlook miss was surprising, it is expected to mark the bottom, with a “material snapback” likely amid positive commentary around the cloud custom silicon
Retailer Costco Wholesale Corporation (NASDAQ:COST) reported second-quarter financial results after market close Thursday. Analysts size up the results and what’s next for Costco stock, which trades near all-time highs. Truist analyst Scot Ciccarelli has a Buy rating and raises the price target from $741 to $815. Stifel analyst Mark Astrachan has a Buy rating and raises the price target from $735 to $800. Telsey analyst Joseph Feldman has an Outperform rating and raises the price targe from $750 to $800. Oppenheimer analyst Rupesh Parikh has an Outperform rating and a price target of $805. Goldman Sachs analyst Kate McShane has a Buy rating and raises the price target from $749 to $830. DA Davidson analyst Michael Baker has a Neutral rating and raises the price target from $600 to $680. Related Link: Costco Membership Fee Increase Could Be Coming, Hot Dog & Soda Combo To Stay The Same Truist: Improving discretionary sales and
The following is a summary of the Marvell Technology, Inc. (MRVL) Q4 2024 Earnings Call Transcript: Financial Performance: Marvell Technology reported Q4 revenue of $1.43 billion, up 1% sequentially. Gross margin increased by 330 basis points. The quarterly earnings per share was $0.46, a sequential increase of 12%. Data center revenue was a record $765 million, a year-over-year increase of 54%. Fiscal 2024 reported revenue was $5.5 billion. Company plans to increase stock repurchases in Q1 2025. Business Progress: Marvell is focusing on AI infrastructure and data center market for fiscal 2025. Company continues collaborating with TSMC to develop 2-nanometer semiconductors for accelerated infrastructure. Significant revenue contributions are expected from AI cloud optimized programs in fiscal 2025. Successful product qualifications of 1.6T products supports this goal. Plans to expand customer base in data center market with new design wins. Reported double digit revenue growth in automotive sector from new ethernet
Marvell Technology (NASDAQ:MRVL) Q4 2024 Earnings Conference Read Post »
Mizuho analyst Vijay Rakesh maintains NVIDIA with a Buy and raises the price target from $850 to $1000.
Mizuho analyst maintains NVIDIA with a Buy Read Post »
UBS analyst Timothy Arcuri maintains Intel (NASDAQ:INTC) with a Neutral and raises the price target from $38 to $46.
UBS analyst maintains Intel (NASDAQ:INTC) with a Neutral Read Post »
General Electric’s (GE) valuation is expected to receive a boost from the improving free cash flow of its renewable energy business, GE Vernova, BofA Securities said in a report Thursday. The brokerage maintained its buy rating on the stock as it raised its price target to $175 from $162, taking into account GE Vernova’s “better FCF trajectory” and GE Aerospace’s revenue growth visibility. GE Vernova, which is expected to spin off from GE on April 2, reaffirmed its full-year 2024 outlook on Wednesday for revenue of $34 billion to $35 billion, with an adjusted EBITDA margin being at the higher end of the mid-single digit range. The guidance looks conservative as GE Vernova’s backlog “provides a high degree of visibility, with [about] 50% of 2025 revenue already in the backlog,” BofA said. “The pending spinoff of Vernova creates a catalyst for re-rating over time. Over the medium term, improving FCF
Angela Palumbo Investors have been busy buying up chip stocks with exposure to generative artificial intelligence, but one Mizuho analyst sees near-term risk to this big boom in semiconductor-stock prices. Mizuho analyst Jordan Klein wrote in a research note Thursday that he is “starting to actually get worried,” about the persistent gains of chip stocks, specifically citing Nvidia, Broadcom, and Marvel Technology. “Stocks do not only go up, and this current investor mentality which feels nearing a frenzy to get more and more Semi exposure with sell-side targets going higher and higher starts to remind me of 1999 into early 2000 across Tech,” Klein wrote. Nvidia stock has surged 290% in the last 12 months, and consistently continues to hit new highs. The gain may be warranted, though. The company reported fiscal 2024 revenue of $60.9 billion in February, a 126% increase from the prior year. Chief Financial Officer Colette
Nvidia, Chip Stocks Could Hit an Air Pocket Soon, Says Analyst — Barrons.com Read Post »