McDonald’s 4Q Results Likely Impacted by Middle East Conflict

/ / Consumer Discretionary /

McDonald’s is expected to post 4Q results that include negative impacts from ongoing conflict in the Middle East, Baird analysts say in a research note. They expect the rest of the business to deliver a good performance and show solid overall operating momentum in the new year once the fast-food giant gets past a difficult 1Q comparison. But the analysts are trimming their 4Q estimates to reflect expectations for weakness in the Middle East, along with softer trends in Japan and uncertainties about China.

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Franklin Resources(BEN.US) Q1 2024 Earnings Conference

/ / Financials /

The following is a summary of the Franklin Resources, Inc. (BEN) Q1 2024 Earnings Call Transcript: Financial Performance: Franklin Resources reported an effective fee rate of 39.7 basis points, higher than the expected 39 basis points, due to Lexington catch-up fees. Total compensation and benefits, including Putnam, are expected to be around $815 million for the second fiscal quarter. Fiscal year 2024 is forecast to see a 1-2% increase from 2023, excluding Putnam. With Putnam included, but excluding performance fees, the total adjusted operating expenses for FY 2024 are expected to be around $4.55 billion to $4.6 billion. The firm expects to save between $85 million to $100 million on expenses by end of fiscal 2024 and at least $150 million by end of 2025. Q1 2024 saw a 6% increase in Assets Under Management (AUM), reaching $1.46 trillion. Business Progress: Franklin Resources closed on the acquisition of Putnam on

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Visa Inc. (NYSE:V) Stock Analyst Ratings

/ / Industrials /

Visa Inc. (NYSE:V) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/29/2024 16.39% Barclays $304 → $319 Maintains Overweight 01/26/2024 18.94% Susquehanna $300 → $326 Maintains Positive 01/26/2024 14.93% UBS $305 → $315 Maintains Buy 01/26/2024 12.74% RBC Capital $290 → $309 Maintains Outperform 01/26/2024 14.93% Keefe, Bruyette & Woods $305 → $315 Maintains Outperform 01/26/2024 2.16% Wedbush $270 → $280 Maintains Outperform 01/26/2024 13.47% Raymond James $287 → $311 Maintains Outperform 01/18/2024 -3.31% Mizuho $243 → $265 Maintains Neutral 01/08/2024 9.46% Keybanc $275 → $300 Maintains Overweight 12/20/2023 — Monness, Crespi, Hardt Initiates Coverage On → Neutral 12/14/2023 11.28% UBS $295 → $305 Maintains Buy 12/12/2023 7.63% Jefferies $280 → $295 Maintains Buy 12/05/2023 2.16% BMO Capital → $280 Initiates Coverage On → Outperform 10/31/2023 -11.34% Mizuho $240 → $243 Maintains Neutral 10/30/2023 1.43% Barclays $285 → $278 Maintains Overweight 10/25/2023

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AMD Poised for In-Line Fourth Quarter Though First-Quarter Sales Could Miss Views, BofA Says

/ / Technology /

AMD’s (AMD) fiscal fourth-quarter results are expected to match Wall Street estimates, though its first-quarter sales could miss views as it faces a tough near-term setup, BofA Securities said Monday. The chipmaker is scheduled to report fourth-quarter results Tuesday, with BofA projecting adjusted earnings at $0.77 per share on sales of about $6.13 billion, largely in line with the Street’s views. BofA sees 2023 adjusted EPS at $2.65 on sales of $22.64 billion. The brokerage said that AMD’s server central processing unit likely gained share from rival Intel (INTC) during the quarter, with gains expected to continue in 2024, BofA analysts, including Vivek Arya, said in a note. The firm said there’s potential for first-quarter outlook miss versus Street estimates on weakness in AMD’s PC and field-programmable gate array segments. BofA cut its first-quarter sales expectations to $5.53 billion from $5.73 billion, below the Street’s view for $5.8 billion, according

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Nucor Reports Results for the Fourth Quarter and Full Year 2023

/ / Basic Materials /

Nucor Reports Results for the Fourth Quarter and Full Year 2023 PR Newswire CHARLOTTE, N.C., Jan. 29, 2024 — Fourth quarter and full year 2023 diluted EPS of $3.16 and $18.00, respectively. — Fourth quarter and full year 2023 net earnings before noncontrolling interests of $872.8 million and $4.91 billion, respectively; EBITDA of $1.36 billion and $7.41 billion, respectively. — 2024 expected to be another strong year as Nucor executes its strategy to grow the core and expand its portfolio of solutions. — Capital deployment expected to increase in 2024 with planned capital expenditures of $3.5 billion, continued evaluation of acquisitions, and share repurchases set to outpace the prior year. CHARLOTTE, N.C., Jan. 29, 2024 /PRNewswire/ — Nucor Corporation (NYSE: NUE) today announced consolidated net earnings of $785.4 million, or $3.16 per diluted share, for the fourth quarter of 2023. By comparison, Nucor reported consolidated net earnings of $1.14 billion,

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GM Stock Is on a Tear, Raising the Stakes for Earnings — Barrons.com

/ / Consumer Discretionary /

Don’t look now, but General Motors shares have taken off. That puts its fourth-quarter earnings, and management’s forecasts for 2024, front and center for investors. As of the close on Monday, the stock was up some 26% since mid November, fueled by a new four-year-plus labor deal with the United Auto Workers and plans to raise the dividend. That is better than Ford Motor, Stellantis, and Toyota Motor shares, but those three have all posted positive returns. Tesla stock has fallen almost 20% over the same span. The S&P 500 is up about 9%. The kind of outperformance means that investors expect good news when quarterly results come. And good news starts with beating Wall Street’s estimates for earnings. For the fourth quarter, Wall Street expects an operating profit of $1.9 billion and earnings per share of about $1.16 from sales of $39.5 billion, according to Bloomberg. The results are

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Nucor 4Q Results Dented by Lower Steel Volumes, Prices

/ / Basic Materials /

By Ben Glickman Nucor’s fourth-quarter results took a hit as volumes and selling prices fell across its business. The Charlotte, N.C.-based steelmaker posted a profit of $785.4 million, or $3.16 a share, in the quarter ended Dec. 31, compared with $1.26 billion, or $4.89 a share, a year earlier. Analysts polled by FactSet expected per-share earnings of $2.83. Revenue fell 12% to $7.7 billion, topping the $7.63 billion expected by analysts polled by FactSet. Nucor said its earnings fell due to lower pricing and volumes across all three of its operating segments. The company expects earnings to increase in the first quarter on a sequential basis due to recovering selling prices in the steel mills segment and greater profitability in its raw materials segment. Write to Ben Glickman at ben.glickman@wsj.com

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