Alphabet Logs Higher Fourth-Quarter Results But Google Advertising Business Falls Short of Views

/ / Technology /

Alphabet (GOOG, GOOGL) shares dropped early Wednesday after the Google parent’s core advertising business narrowly missed market estimates for the fourth quarter, overshadowing gains in other metrics of the company. Earnings came in at $1.64 a share for the December quarter, up from $1.05 the year before, the technology giant said late Tuesday That topped the Capital IQ-polled consensus of $1.60. Revenue advanced 13% to $86.31 billion, ahead of the Street’s view for $85.28 billion. Google advertising revenue increased to $65.52 billion from $59.04 billion in the 2022 quarter, but fell short of the $65.81 billion estimate on Visible Alpha. Shares of the company were down 5.7% in premarket trading. “We see continued upside for long-term advertising growth,” Chief Business Officer Philipp Schindler said on an earnings call, according to a Capital IQ transcript. “Advertising generates the bulk of our revenue, and we continue to invest heavily here.” Google Search […]

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Marathon Petroleum (NYSE:MPC) Stock Analyst Ratings

/ / Energy /

Marathon Petroleum (NYSE:MPC) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/31/2024 9.23% Raymond James $175 → $185 Maintains Strong Buy 12/14/2023 -0.21% Wells Fargo → $169 Upgrades Equal-Weight → Overweight 11/01/2023 3.33% Raymond James $171 → $175 Maintains Strong Buy 10/17/2023 -5.53% Morgan Stanley $150 → $160 Maintains Overweight 10/06/2023 -1.98% Mizuho $178 → $166 Maintains Neutral 10/06/2023 0.97% Raymond James $177 → $171 Maintains Strong Buy 10/05/2023 -12.61% Piper Sandler $146 → $148 Maintains Neutral 09/20/2023 4.51% Raymond James $165 → $177 Maintains Strong Buy 09/18/2023 2.15% B of A Securities $162 → $173 Maintains Neutral 09/18/2023 5.1% Mizuho $161 → $178 Maintains Neutral 09/08/2023 -7.3% Wells Fargo $142 → $157 Maintains Equal-Weight 08/16/2023 — Mizuho Downgrades Buy → Neutral 08/15/2023 -4.35% B of A Securities $159 → $162 Downgrades Buy → Neutral 08/07/2023 -3.16% Jefferies $140 → $164 Maintains

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Phillips 66 Delivers Strong 4Q 2023 Results, Advances Strategic Priorities

/ / Energy /

Phillips 66 Delivers Strong 4Q 2023 Results, Advances Strategic Priorities Fourth Quarter — Fourth-quarter earnings of $1.3 billion or $2.86 per share; adjusted earnings of $1.4 billion or $3.09 per share — $2.2 billion of operating cash flow — $1.6 billion returned to shareholders through dividends and share repurchases — Strong Refining operations at 92% utilization and 107% market capture — Record NGL fractionation volumes and LPG export volumes Full-Year 2023 — Earnings of $7.0 billion or $15.48 per share; adjusted earnings of $7.2 billion or $15.81 per share — $7.0 billion of operating cash flow, $8.8 billion excluding working capital — $5.9 billion returned to shareholders through dividends and share repurchases — Quarterly dividend increased 8% to $1.05 per common share — $1.2 billion in run-rate business transformation savings — Strong Refining operations with four consecutive quarters above industry-average crude utilization — Advancing Midstream NGL wellhead-to-market strategy; acquired all

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Skyworks Solutions, Inc. (NASDAQ:SWKS) Stock Analyst Ratings

/ / Technology /

Skyworks Solutions, Inc. (NASDAQ:SWKS) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/31/2024 20.48% Rosenblatt → $130 Reiterates Buy → Buy 01/04/2024 -16.59% Piper Sandler → $90 Downgrades Overweight → Neutral 12/18/2023 15.85% Mizuho $108 → $125 Maintains Buy 11/03/2023 20.48% Rosenblatt $150 → $130 Maintains Buy 11/03/2023 -16.59% Piper Sandler $125 → $90 Maintains Overweight 11/03/2023 1.95% Susquehanna $115 → $110 Maintains Positive 11/03/2023 -11.96% Morgan Stanley $112 → $95 Maintains Equal-Weight 11/03/2023 11.21% Keybanc $130 → $120 Maintains Overweight 11/03/2023 — Summit Insights Group Downgrades Buy → Hold 10/24/2023 6.58% Susquehanna $130 → $115 Maintains Positive 10/10/2023 -19.37% Citigroup $116 → $87 Downgrades Neutral → Sell 09/20/2023 1.95% Exane BNP Paribas → $110 Downgrades Outperform → Neutral 09/14/2023 20.48% Keybanc → $130 Reiterates Overweight → Overweight 08/08/2023 15.85% Piper Sandler $107 → $125 Maintains Overweight 08/08/2023 20.48% Susquehanna $125 →

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Goldman Sachs, Jefferies Stand Out Among Undervalued Big Banks, Oppenheimer Says

/ / Financials /

By Steve Gelsi Analyst recommends GS, JEF, as well as BAC, C, JPM, MS and USB Oppenheimer analyst Chris Kotowski has reiterated overweight ratings on Goldman Sachs Group Inc. and Jefferies Financial Group Inc. as standouts among a class of relatively cheap big-bank stocks. “You wouldn’t know it from the stock market…but big banks did fine in 2023,” Kotowski said in a research note published Tuesday. He’s recommending that investors “in particular” overweight their exposure to Goldman Sachs Group Inc. (GS) and Jefferies (JEF), but the entire group including Bank of America Corp. (BAC), Citigroup Inc. (C), JPMorgan Chase & Co. (JPM), Morgan Stanley (MS) and U.S. Bancorp (USB) “remains significantly undervalued,” he said. The positive note from Oppenheimer came as Morgan Stanley analyst Analyst Betsy Graseck said she is “back & bullish” on big banks. Also read: Morgan Stanley upgrades Bank of America, Goldman Sachs and Citi on ‘lightened

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CFRA Downgrades View On Shares Of Nucor Corporation To Sell From Hold

/ / Basic Materials /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We increase our 12-month target by $11 to $167, which assumes an EV/EBITDA of 7.5x our ’24 EBITDA estimate, a premium to NUE’s three-year avg. forward EV/EBITDA of 5.5x and above peers’ avg. forward EV/EBITDA of 6.6x. We raise our ’24 EPS estimate by $0.54 to $12.87 and initiate our ’25 EPS forecast at $12.10. NUE posts Q4 adj. EPS of $3.16 vs. $4.89, $0.33 above consensus, with in-line sales. Q4 avg. sales price fell 15% Y/Y but shipment volume rose 8% Y/Y. NUE is facing some very difficult comps in ’24 and we forecast a decline in adj. EPS of 28% in ’24 and 6% in ’25 (and adj. EBITDA declines of 23% in ’24 and 3% in ’25). NUE currently trades at a significant premium

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