Intel to Delay $20 Billion Chip Manufacturing Project in Ohio

/ / Technology /

Intel (INTC) is planning to delay the construction of its $20 billion chip-manufacturing project in Ohio over market challenges and a slow rollout of US government support for the industry, the Wall Street Journal reported Thursday, citing people familiar with the matter. Construction of the project’s manufacturing facilities is not expected to be completed until 2026, pushing back Intel’s original target of beginning production in 2025, the report said. “Managing large-scale projects, especially in our industry often involves adapting to changing timelines,” an Intel spokesman reportedly told the Journal. The spokesman declined to give a new timeline for the project, the report said. Intel did not immediately respond to MT Newswires’ request for comment.

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FactSet Declares Dividend

/ / Financials /

FactSet Declares Dividend NORWALK, Conn., Feb. 02, 2024 (GLOBE NEWSWIRE) — FactSet (NYSE: FDS | NASDAQ: FDS), a global financial digital platform and enterprise solutions provider, today announced that its Board of Directors approved a regular quarterly cash dividend of $0.98 per share. The cash dividend will be paid on March 21, 2024, to holders of record of FactSet’s common stock at the close of business on February 29, 2024. About FactSet FactSet (NYSE:FDS | NASDAQ:FDS) helps the financial community to see more, think bigger, and work better. Our digital platform and enterprise solutions deliver financial data, analytics, and open technology to nearly 8,000 global clients, including over 207,000 individual users. Clients across the buy-side and sell-side as well as wealth managers, private equity firms, and corporations achieve more every day with our comprehensive and connected content, flexible next-generation workflow solutions, and client-centric specialized support. As a member of the

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Oppenheimer Raises Meta Platforms Price Target to $525 From $385 Following Q4 Earnings Beat, Maintains Outperform Rating

/ / Technology /

Oppenheimer raised its price target on Meta Platforms (META) to $525 from $385 following Q4 earnings beat and better-than-expected guidance, driven by broad-based advertiser demand, as AI investments drive relative ad efficiency improvements. The company reported a year-over-year daily user growth acceleration to 8% across its Family of Apps, indicating Reels’ growing share of consumer time. Despite Reels not yet monetizing at the level of Feeds or Stories, ad prices saw a 2% year-over-year increase, the first positive growth since Q4/21, signaling progress towards parity. Meta Platforms has an average rating of Buy and price targets ranging from $175 to $575, according to analysts polled by Capital IQ.

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Exxon Mobil’s Q4 Surprise: Beats Earnings Expectations Despite Revenue Dip, Embarks On Bold EV And LNG Ventures

/ / Energy /

Exxon Mobil Corp’s (NYSE:XOM) fourth-quarter FY23 result adjusted net profit came in at $9.96 billion, or $2.48 per share, down from $14.04 billion, or $3.40 per share, a year earlier, beating the consensus of $2.21. Adjusted profits were higher Q/Q, led by favorable derivative mark-to-market impacts, increasing volume and mix on advantaged Guyana and Permian assets, and stronger chemical margins. Revenue and other income slipped to $84.34 billion from $95.43 billion and missed Wall Street’s estimate of $85.23 billion. Net production stood at 3,824 thousand oil-equivalent barrels per day, almost flat Y/Y, and rose 136,000 oil-equivalent barrels per day Q/Q thanks to favorable entitlement effects and growth in Permian and Guyana assets. The company’s capital and exploration expenditures stood at $7.8 billion in the fourth quarter, bringing full-year 2023 expenditures to $26.3 billion, slightly above the top end of the guidance range of $23 billion to $25 billion. In October, Exxon

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Snowflake (NYSE:SNOW) stock Analyst Ratings

/ / Technology /

Snowflake (NYSE:SNOW) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/02/2024 7.73% Raymond James $190 → $223 Maintains Outperform 01/22/2024 2.42% JMP Securities → $212 Reiterates Market Outperform → Market Outperform 01/16/2024 11.11% Truist Securities $210 → $230 Maintains Buy 01/12/2024 -4.35% Barclays → $198 Downgrades Overweight → Equal-Weight 01/08/2024 8.7% Needham → $225 Reiterates Buy → Buy 01/05/2024 11.11% RBC Capital → $230 Initiates Coverage On → Outperform 01/04/2024 -22.71% Monness, Crespi, Hardt → $160 Downgrades Neutral → Sell 01/02/2024 20.77% Piper Sandler $220 → $250 Maintains Overweight 12/11/2023 11.11% TD Cowen $215 → $230 Maintains Outperform 12/01/2023 -8.21% Rosenblatt $170 → $190 Maintains Neutral 11/30/2023 9.18% Scotiabank $194 → $226 Maintains Sector Outperform 11/30/2023 -8.21% Raymond James $170 → $190 Maintains Outperform 11/30/2023 13.53% Stifel $200 → $235 Maintains Buy 11/30/2023 1.45% Truist Securities $200 → $210 Maintains Buy 11/30/2023

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CrowdStrike Holdings (NASDAQ:CRWD) Stock Analyst Ratings

/ / Technology /

CrowdStrike Holdings (NASDAQ:CRWD) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/02/2024 -19.86% Cantor Fitzgerald → $240 Reiterates Overweight → Overweight 01/31/2024 10.19% JMP Securities → $330 Reiterates Market Outperform → Market Outperform 01/30/2024 10.19% Raymond James → $330 Initiates Coverage On → Outperform 01/29/2024 10.19% JMP Securities $235 → $330 Maintains Market Outperform 01/18/2024 6.19% Keybanc $245 → $318 Maintains Overweight 01/17/2024 — WestPark Capital Downgrades Buy → Hold 01/16/2024 -3.16% Truist Securities $230 → $290 Maintains Buy 01/12/2024 -19.86% Cantor Fitzgerald → $240 Reiterates Overweight → Overweight 01/10/2024 6.86% Citigroup $275 → $320 Maintains Buy 01/09/2024 1.51% Morgan Stanley $203 → $304 Upgrades Equal-Weight → Overweight 01/05/2024 0.18% Oppenheimer $240 → $300 Maintains Outperform 12/21/2023 5.19% Rosenblatt $245 → $315 Maintains Buy 12/21/2023 8.53% Needham $250 → $325 Maintains Buy 12/15/2023 -9.84% BMO Capital $238 → $270 Maintains Outperform 12/15/2023

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Cable Stocks Fall After Charter Loses Subscribers

/ / Telecommunications /

By Will Feuer Shares of cable companies took a hit Friday after Charter Communications reported soft fourth-quarter earnings and said it lost tens of thousands of internet subscribers. Comcast shares traded 3% lower at $45.22. That stock is up 10% from 12 months ago. Altice USA shares slipped more than 8% to $2.27. Altice stock is down nearly 58% over the past 12 months. Shares of Charter dropped more than 11%, leading the sector lower. Charter said it lost 61,000 internet customers in the fourth quarter, with nearly all of the decline from residential customers. Analysts had expected the company to add 6,000 internet customers. Chief Financial Officer Jessica Fischer had warned in December that the company could lose internet customers in the quarter. At the time, speaking at an analyst conference, she said the company was facing short-term challenges and that results would be in line with the rest

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Exxon Mobil 3Q Earnings Drop 40% From Last Year

/ / Energy /

Exxon Mobil is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. Exxon Mobil netted $36 billion in revenue in its recent earnings. Exxon’s earnings were down more than a third from record levels in 2022, but still well above historic averages. Exxon reported $7.6 billion in fourth-quarter earnings, down 40% from the same period a year earlier. It took a $2 billion impairment charge as the result of what it called regulatory obstacles in California. The company touted cost cuts as its production rose to records in Guyana and the Permian Basin of West Texas and New Mexico. Dow Jones & Co. owns Factiva.

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Charter Communications Falls as Loss of Internet Customers Hits the Stock — Barrons.com

/ / Telecommunications /

By Angela Palumbo Charter Communications stock was tumbling Friday after the parent company of Spectrum Networks reported a surprise loss in internet subscribers. Charter shares were sinking 12% to $336.86. The stock was on pace for its largest percentage decrease since December 2022 and lowest close since June 2023, according to Dow Jones Market Data. The stock was also the second-worst performer in the S&P 500 Friday. The index was up 0.3%. The cable company said Friday that total residential and small- and medium-business internet customers declined by 61,000 in the fourth quarter ended Dec. 31. Analysts surveyed by FactSet were expecting internet customers to increase by 6,000. “Internet growth in our existing footprint has been challenging driven by admittedly more persistent competition from fixed wireless,” Chief Executive Christopher Winfrey said on the earnings call. Residential video customers decreased by 248,000 in the quarter, compared with Wall Street estimates for

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Preview: Estee Lauder Cos’s Earnings

/ / Consumer Discretionary /

Estee Lauder Cos (NYSE:EL) is set to give its latest quarterly earnings report on Monday, 2024-02-05. Here’s what investors need to know before the announcement. Analysts estimate that Estee Lauder Cos will report an earnings per share (EPS) of $0.55. Estee Lauder Cos bulls will hope to hear the company announce they’ve not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

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Intel (NASDAQ:INTC) Stock Analyst Ratings

/ / Technology /

Intel (NASDAQ:INTC) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/02/2024 17.97% Cantor Fitzgerald → $50 Reiterates Neutral → Neutral 01/29/2024 13.25% Morgan Stanley $39 → $48 Maintains Equal-Weight 01/29/2024 -7.99% Goldman Sachs $34 → $39 Maintains Sell 01/26/2024 29.76% Mizuho $58 → $55 Maintains Buy 01/26/2024 46.28% Benchmark $52 → $62 Maintains Buy 01/26/2024 -59.89% Rosenblatt → $17 Reiterates Sell → Sell 01/26/2024 -7.99% Goldman Sachs $34 → $39 Maintains Sell 01/26/2024 13.25% Wells Fargo $52 → $48 Maintains Equal-Weight 01/26/2024 -5.63% Wedbush $45 → $40 Maintains Neutral 01/26/2024 22.68% Raymond James $54 → $52 Maintains Outperform 01/26/2024 — Needham Downgrades Buy → Hold 01/26/2024 — Summit Insights Group Downgrades Buy → Hold 01/23/2024 -59.89% Rosenblatt → $17 Reiterates Sell → Sell 01/23/2024 17.97% Cantor Fitzgerald → $50 Initiates Coverage On → Neutral 01/19/2024 27.4% Raymond James $48 → $54 Maintains

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