UBS analyst maintains Intel (NASDAQ:INTC) with a Neutral
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 Shares Seen Getting Support From Vernova’s Improving Free Cash Flow, BofA Says
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
Nvidia, Chip Stocks Could Hit an Air Pocket Soon, Says Analyst — Barrons.com
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
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Heard on the Street: Apple Investors Are Getting More Worried — WSJ
By Dan Gallagher Much remains to be seen about how Europes new Digital Markets Act will actually impact Apples business. But the timing for the iPhone maker could hardly be worse. The new law, which goes into effect on Thursday ( requires Apple, Google and other operators of digital platforms to allow third-party app stores ( and alternative payment options on those platforms. Its a major change for Apple, which has practiced a closed-ecosystem ( approach since launching its first iPhone in 2007. Apple announced a series of changes ( in late January to its App Store for the European market to comply with the new rules, though those changes are proving highly controversial in their own righteven sparking a new battle ( with longtime nemesis Epic Games. Those changes come as Apple is facing worries ( about another weak iPhone cycle ( and the health of its business in
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Adobe Systems May See Solid Growth, Moderate Upside to Estimates in Fiscal Q1, Oppenheimer Says
Adobe Systems (ADBE) is expected to report solid growth and a moderate upside to estimates in fiscal Q1, Oppenheimer said in a note to clients Thursday. The investment firm reiterated Adobe’s outperform rating, with a price target of $660. Adobe will report its fiscal Q1 results on March 14. Oppenheimer estimates revenue of $5.12 billion and pro-forma earnings of $4.37 per share. Analysts surveyed by Capital IQ expect revenue of $5.14 billion and normalized EPS of $4.38. “Our research mosaic points to modest upside to estimates, a stable operating environment, and consistent trends and momentum for Adobe’s business,” Oppenheimer analysts said. Adobe’s net new digital media annual recurring revenue is also expected to show a 7% beat to the fiscal Q1 guidance, according to the note. Rising concerns over competition due to strong product demonstrations by competitors in generative AI imaging and video generation should gradually ease for Adobe as
UnitedHealth’s Stock Can Soar 40% as Antitrust Concerns Are Overblown, BofA Says
By Tomi Kilgore Justice Department antitrust probe and recent cyberattack were bad news for UnitedHealth – but not as bad as stock’s selloff suggests, analyst says Shares of UnitedHealth Group Inc. rallied Thursday after a ringing endorsement from BofA Securities analyst Kevin Fischbeck, who said investor concerns about an antitrust investigation and a recent cyberattack are way overblown. Fischbeck reiterated his buy rating on the health insurer’s stock (UNH), which he said is now his “top pick.” His $675 price target – which makes Fischbeck the most bullish of the 28 analysts surveyed by FactSet who cover UnitedHealth – implies roughly 41% upside from current levels. The stock rose 0.9% in afternoon trading, after closing Wednesday at its lowest price since July 13, 2023. The bounce comes after UnitedHealth shares tumbled 10.4% amid an eight-session losing streak, which was their longest such streak since an eight-day stretch that ended March
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CFRA Keeps Hold Opinion On Shares Of Exxon Mobil Corporation
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Per the Wall Street Journal, XOM has filed for arbitration to retain what it believes is a right of first refusal (ROFR) over the 30% stake in oil and gas development in Guyana held by Hess Corporation (HES 145 ***). XOM is citing the ROFR in response to HES’s agreement to be acquired by rival Chevron Corp. (CVX 150 ***), which was announced in 2023. We believe the Court will have to determine whether the way in which the merger was structured, and the way in which the joint operating agreement (JOA) in the Guyana development between the key parties was written, entitle XOM to invoke the ROFR or not. Given that the terms of the JOA have not been publicly disclosed, we do not have an
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MongoDB Sees 1Q Adj EPS 34c-Adj EPS 39c
MongoDB Sees 1Q Adj EPS 34c-Adj EPS 39c。
MongoDB Sees 1Q Adj EPS 34c-Adj EPS 39c Read Post »
MongoDB, Inc. Announces Fourth Quarter and Full Year Fiscal 2024 Financial Results
MongoDB, Inc. Announces Fourth Quarter and Full Year Fiscal 2024 Financial Results PR Newswire NEW YORK, March 7, 2024 Fourth Quarter Fiscal 2024 Total Revenue of $458.0 million, up 27% Year-over-Year Full Year Fiscal 2024 Total Revenue of $1.68 billion, up 31% Year-over-Year Continued Strong Customer Growth with Over 47,800 Customers as of January 31, 2024 MongoDB Atlas Revenue up 34% Year-over-Year; 68% of Total Q4 Revenue NEW YORK, March 7, 2024 /PRNewswire/ — MongoDB, Inc. (NASDAQ: MDB) today announced its financial results for the fourth quarter and fiscal year ended January 31, 2024. “MongoDB finished fiscal 2024 on a strong note, highlighted by 34% Atlas revenue growth and operating margin improvement of nearly five percentage points year-over-year. We continue to see healthy new workload wins as MongoDB’s developer data platform increasingly becomes the standard for modern application development,” said Dev Ittycheria, President and Chief Executive Officer of MongoDB. “As
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Marvell Announces $3 Billion Stock Repurchase Authorization
Marvell Announces $3 Billion Stock Repurchase Authorization。
Marvell Announces $3 Billion Stock Repurchase Authorization Read Post »
DocuSign Announces Fourth Quarter and Fiscal Year 2024 Financial Results
DocuSign Announces Fourth Quarter and Fiscal Year 2024 Financial Results PR Newswire SAN FRANCISCO, March 7, 2024 SAN FRANCISCO, March 7, 2024 /PRNewswire/ — DocuSign, Inc. (NASDAQ: DOCU), which offers the world’s #1 e-signature product as part of its industry leading lineup, today announced results for its fourth quarter and fiscal year ended January 31, 2024. “DocuSign ended Fiscal 2024 with momentum in product innovation, customer growth, and financial performance, including more than doubling free cash flow year-over-year,” said Allan Thygesen, CEO of DocuSign. “The agreement management opportunity is massive, and we’re excited to deliver category-defining innovation to our 1.5 million customers in Fiscal 2025 and beyond.” Fourth Quarter Financial Highlights — Total revenue was $712.4 million, an increase of 8% year-over-year. Subscription revenue was $695.7 million, an increase of 8% year-over-year. Professional services and other revenue was $16.7 million, an increase of 5% year-over-year. — Billings were $833.1 million,
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Marvell Technology, Inc. Reports Fourth Quarter and Fiscal Year 2024 Financial Results
Marvell Technology, Inc. Reports Fourth Quarter and Fiscal Year 2024 Financial Results PR Newswire SANTA CLARA, Calif., March 7, 2024 — Q4 Net Revenue: $1.427 billion, grew by 1% year-on-year — Q4 Gross Margin: 46.6% GAAP gross margin; 63.9% non-GAAP gross margin — Q4 Diluted income (loss) per share: $(0.45) GAAP diluted loss per share; $0.46 non-GAAP diluted income per share SANTA CLARA, Calif., March 7, 2024 /PRNewswire/ — Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today reported financial results for the fourth fiscal quarter and fiscal year ended February 3, 2024. Net revenue for the fourth quarter of fiscal 2024 was $1.427 billion, above the mid-point of the Company’s guidance provided on November 30, 2023. GAAP net loss for the fourth quarter of fiscal 2024 was $(392.7) million, or $(0.45) per diluted share. Non-GAAP net income for the fourth quarter of fiscal 2024 was
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