Nvidia Delivers Better-Than-Expected 4Q Results, 1Q Revenue Outlook

/ / Technology /

Nvidia is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. The company on Wednesday reported fiscal fourth-quarter revenue of $22.1 billion, up from $6.05 billion a year before and above analyst expectations of $20.4 billion. Data-center revenue surged more than 400% from a year before to hit $18.4 billion. Net income was $12.3 billion, or $4.93 a share, compared with $1.4 billion, or 57 cents a share, a year ago. Nvidia also forecast around $24 billion of sales for the first fiscal quarter, above analysts’ consensus of $22.2 billion. Shares are up 13% in recent trading. Dow Jones & Co. owns Factiva.

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Morgan Stanley’s Path to 30% Margins in Wealth Management — Barrons.com

/ / Financials /

By Andrew Welsch Morgan Stanley’s wealth unit fell short of its target for pretax profit margin in the fourth quarter, but the goal is still achievable and the company has a plan to hit its target, said Jed Finn, head of wealth management at Morgan Stanley. “We can add significantly more clients and assets without having to add significantly more to the infrastructure,” said Finn, who spoke at the BofA Securities Financial Services Conference on Thursday. Morgan Stanley has finished integrating recent acquisitions, which frees up resources, Finn said. It now has a robust platform for serving a wide range of clients and customer needs. Plus, it has a pipeline of future full-service wealth management clients. “Once the relationships are here, they grow over time,” he said. “It might start in a brokerage account, but it then grows into an advisory relationship. Or maybe it starts with a checking account.

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Boeing Appoints Uma Amuluru Human Resources Leader

/ / Industrials /

Boeing Appoints Uma Amuluru Human Resources Leader – Michael D’Ambrose announces retirement after four-decade career – Experienced Boeing leader Uma Amuluru to succeed D’Ambrose in leading the company’s global Human Resources organization PR Newswire ARLINGTON, Va., Feb. 22, 2024 ARLINGTON, Va., Feb. 22, 2024 /PRNewswire/ — Boeing [NYSE: BA] today announced Uma Amuluru as the company’s Chief Human Resources Officer and executive vice president, Human Resources, effective April 1. Amuluru succeeds Michael D’Ambrose who announced his plans to retire this July. In her new role, Amuluru will be responsible for Boeing’s talent planning, global talent acquisition, learning and development, compensation and benefits, employee and labor relations, and diversity and inclusion initiatives. She will report to Boeing President and CEO David Calhoun and serve on the company’s Executive Council. “Uma is a superb leader with a strong track record of building terrific teams and strengthening complex organizations. Continuing to invest in

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Nvidia Delivered Another Beat/Raise as AI Demand Surges, BofA Says

/ / Technology /

Nvidia (NVDA) delivered another beat and raise with its fiscal Q4 results as artificial intelligence demand is surging across several customer sets, BofA Securities said in a note to clients on Thursday. BofA raised Nvidia’s price target to $925 from $800 and kept the buy rating. The chipmaker reported fiscal Q4 non-GAAP earnings late Wednesday of $5.16 per diluted share, up from $0.88 a year earlier. Analysts surveyed by Capital IQ expected $4.64. Revenue in the quarter jumped to a record $22.1 billion from $6.05 billion a year earlier. Analysts expected $20.6 billion. “Perhaps the most important new datapoint in NVDA’s earnings call was that AI inference contributed nearly 40% of AI computing mix in FY24/CY23,” BofA said. “AI inference is correlated with revenue bearing AI which is supposed to be more competitive, as opposed to AI training which NVDA already dominates.” The investment firm also highlighted Nvidia’s comments related

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DoorDash Seen to Deliver ‘Peer-Leading’ Results, Become GAAP Profitable in 2024, Morgan Stanley Says in Upgrade

/ / Technology /

DoorDash (DASH) is expected to continue to deliver “peer-leading” and better-than-projected consumer spend and gross order value results across its platform, Morgan Stanley said in a note Thursday. The firm said it has confidence in the food delivery company’s forward gross order value and earnings before interest, taxes, depreciation, and amortization growth, backed by a “durable” restaurant business in the US. Morgan Stanley expects DoorDash to be GAAP profitable in 2024, which is likely to result in further shareholder interest, according to the note. The firm upgraded its rating on the DoorDash stock to overweight from equal-weight and raised its price target to $145 from $135. DoorDash shares were up 5.3% in recent trading.

DoorDash Seen to Deliver ‘Peer-Leading’ Results, Become GAAP Profitable in 2024, Morgan Stanley Says in Upgrade Read Post »

Analog Devices, Inc. (NASDAQ:ADI) Stock Analyst Ratings

/ / Technology /

Analog Devices, Inc. (NASDAQ:ADI) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/22/2024 12.58% Truist Securities $226 → $222 Maintains Buy 02/22/2024 3.96% Goldman Sachs $191 → $205 Maintains Buy 02/22/2024 16.64% Keybanc $220 → $230 Maintains Overweight 02/20/2024 3.96% Cantor Fitzgerald → $205 Reiterates Neutral → Neutral 02/12/2024 3.96% Cantor Fitzgerald → $205 Reiterates Neutral → Neutral 01/29/2024 3.96% Cantor Fitzgerald → $205 Reiterates Neutral → Neutral 01/23/2024 3.96% Cantor Fitzgerald → $205 Initiates Coverage On → Neutral 01/16/2024 -6.18% Barclays $180 → $185 Maintains Equal-Weight 12/22/2023 — Edward Jones Upgrades Hold → Buy 11/22/2023 9.03% Oppenheimer → $215 Reiterates Outperform → Outperform 11/22/2023 -11.25% Piper Sandler $190 → $175 Maintains Neutral 11/22/2023 6.5% Susquehanna $215 → $210 Maintains Positive 11/22/2023 6.5% UBS $200 → $210 Maintains Buy 11/22/2023 4.47% Truist Securities $213 → $206 Maintains Buy 11/22/2023 11.06% Morgan Stanley

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Analog Devices’ Fiscal Q2 Revenue Outlook ‘In-Line With Broad-Based Peers,’ Morgan Stanley Says

/ / Technology /

Analog Devices’ (ADI) forecast for a 16% quarter-over-quarter drop in fiscal Q2 revenue “was slightly worse than expected but in-line with broad-based peers,” Morgan Stanley said in a note Wednesday. The company said Wednesday that it expected fiscal Q2 revenue of $2.10 billion at the midpoint, which Morgan Stanley said is lower than its estimate of $2.39 billion and the Street’s $2.36 billion. “We see reasons to be encouraged across inventory management, margin resilience, and booking improvements,” the firm said. Analog Devices appears to be “better positioned” than peers in the coming quarters, the firm said, adding that the company remains its “preferred name” within the analog space. “At this stage of the cycle we have a preference towards names with higher [average selling price], a lower internal manufacturing footprint, and less automotive exposure,” Morgan Stanley said. Morgan Stanley maintained the overweight rating on Analog Devices stock and cut the

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Procter & Gamble (NYSE:PG) Remains Under Pressure In China, Europe, Middle East

/ / Consumer Staples /

Procter & Gamble continues to operate in a volatile and challenging environment from an input cost standpoint, CFO Andre Schulten says at the latest Consumer Analyst Group of New York conference, a month after reporting F2Q results. The consumer goods giant is still seeing market pressure in Greater China and softening underlying market trends in some European, Asia Pacific and Middle East countries such as Egypt, Saudi Arabia and Turkey, due to its price increases, Schulten says. “Despite this volatility, we remain confident that the best path forward is to double down on the strategy that has enabled the strong results to date,” Schulten adds.

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Procter & Gamble (NYSE:PG) Sees Return To Normalized Market Growth Rates

/ / Consumer Staples /

Procter & Gamble signals its expectations for market share growth rates at the latest Consumer Analyst Group of New York conference. P&G expects this metric to revert to “pretty much their historical norm,” which in its categories has usually been around 4% to 5%, CEO Jon Moeller says. “The good news there is that we’re beginning to see strong volume progress,” Moeller adds, noting that it’s also seeing good volume growth in Europe.

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