UBS analyst Lloyd Walmsley raised its price target on Amazon (NASDAQ:AMZN) to $127 from $118, maintaining a “buy” rating. The analyst said Amazon’s fourth-quarter results were mixed, with retail stronger than expected and AWS weaker. Walmsley believes Amazon’s recent stock price will struggle to rise until AWS shows more signs of stabilization.
According to a research report published by Morgan Stanley, Amazon (NASDAQ:AMZN) showed a significant improvement in the profitability of the company’s retail business in the fourth quarter of last year, which made the bank more confident in future scale-driven efficiency and profit improvement, and raised its retail EBIT forecast by $8 billion this year. Damo pointed out that although its AWS business is facing near-term macro uncertainty, it will cut its AWS revenue forecast for this year and next by 6%, but believes that the impact is only temporary, emphasizing that it is still optimistic about the long-term development of the business, and the target price is raised to $150. The bank also raised its overall EBIT forecasts for this year and next by 28% and 19%, rating it overweight.
Goldman Sachs reported that General Motors (NYSE:GM) revenue and earnings per share in the fourth quarter of last year were $43.1 billion and $2.12, respectively, better than the market’s original expectations of $40 billion and $1.69, respectively. The company’s adjusted EBIT of US$3.8 billion last quarter was also better than market expectations of $3.2 billion. The company’s guidance for EBIT for this year is $10.5 billion to $12.5 billion, with earnings per share ranging from $6 to $7, higher than market and the bank’s expectations. The bank pointed out that GM’s results increased sharply in the fourth quarter of last year, and believes that a number of factors contributed to this year’s EBIT guidance better than expected, including net price and cost savings. Goldman Sachs raised GM’s earnings per share forecast from $5.15, $6 and $7.25 from $5.15, $6 and $7.25 to $6.25, $6.5 and $7.55, respectively. The bank raised
On February 3, Delta Air Lines (NYSE:DAL) announced that Delta Air Lines will cancel its technical stop in Seoul from March 3, 2023 and officially resume direct flights between China and the United States.
Delta Air Lines (NYSE:DAL): resuming direct flights between China and the United States Read Post »
Ford Motor Co. expects new U.S. car prices to fall about 5 percent this year as automakers ramp up discounts, giving consumers a temporary relief from last year’s price shock. Parts shortages have drained dealerships’ vast inventories over the past three years and pushed the average selling price of a new car to a record $49,507 last December, according to Kelley Blue Book. But Ford believes that will ease this year.
Ford Motor expects new U.S. car prices to fall 5 percent this year Read Post »
Starbucks (NASDAQ:SBUX) same-store sales grew 5% in the first quarter of 2023, compared with analyst expectations of 6.79%; Net income for the first quarter of 2023 was $8.7 billion, compared to analysts’ expectations of $8.75 billion; North American same-store sales in the first quarter of 2023 increased by 10%, compared with analysts’ expectations of 9.54%; International same-store sales fell 13% in the first quarter of 2023, compared with analysts’ expectations of a 3.87% decline.
Amazon’s (NASDAQ:AMZN) net sales in the fourth quarter of 2022 were $149.2 billion, compared with analysts’ expectations of $145.8 billion; AWS net sales in the fourth quarter were $21.38 billion, compared with analysts’ expectations of $21.76 billion; net sales in the first quarter were expected to be $121-126 billion, compared with analysts’ expectations of $125.55 billion; fourth-quarter earnings per share were $0.030, compared with analysts’ expectations of $0.169; fourth-quarter operating profit was $2.7 billion, compared with analysts’ expectations of $2.51 billion.
Estée Lauder (NYSE:EL) reported Q2 2023 financial results, with Q2 net sales of $4.620 billion, down 17% year-over-year; Net income attributable to the company was $394 million, down 64% year-over-year. The Estée Lauder Companies Inc. is one of the world’s leading manufacturers, marketers and sellers of quality skin care, makeup, fragrance and hair care products. The Company’s products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, La Mer, Bobbi Brown, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, TOM FORD BEAUTY, Smashbox, AERIN Beauty, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced, Dr.Jart+, and the DECIEM family of brands, including The Ordinary and NIOD.
US warehouse chain Costco Wholesale (NASDAQ:COST) announced on February 1 local time that sales in January increased by 6.9% year-on-year to $16.84 billion, but e-commerce sales fell by 15.4%. In the 22 weeks ending Jan. 29, Costco sales rose 7.5 percent to $99 billion, with same-store sales up 6 percent.
Costco Wholesale (NASDAQ:COST) January sales of $16.84 billion, up 6.9% year-over-year Read Post »
On Tesla’s (NASDAQ:TSLA) fourth-quarter earnings call, Musk and Tesla were asked if the Cybertruck was still scheduled to go into production in early 2023, and Musk replied, “We do want to start production sometime this summer, but I always downplay the start of production because it’s always very slow.” Musk noted that mass production of the Cybertruck will begin in 2024, later than previously expected by the end of 2023.
Morgan Stanley: Lowered Tesla (NASDAQ:TSLA) price target to $220 from $250, reiterating its overweight rating.
Morgan Stanley: Lowered Tesla (NASDAQ:TSLA) price target to $220 from $250 Read Post »
Musk said Tesla could produce and sell 2 million vehicles in 2023 in the absence of external interference.
Musk said Tesla could produce and sell 2 million vehicles in 2023 Read Post »