Nucor: Steel Mills Segment’s Earnings Are Expected to Increase in the 1Q 2024 Due to Higher Avg Selling Prices and Volumes
Nucor: Steel Mills Segment’s Earnings Are Expected to Increase in the 1Q 2024 Due to Higher Avg Selling Prices and Volumes.
GM Stock Is on a Tear, Raising the Stakes for Earnings — Barrons.com
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
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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Pfizer Kicks Off Big Pharma Earnings. Cost-Cutting Will Be Key. — Barrons.com
By Josh Nathan-Kazis Pfizer is set to report fourth-quarter earnings on Tuesday morning, after a year of big deals and disappointing stock performance. Analysts expect the company to report a loss of $0.18 a share for the quarter, and revenue of $14.4 billion, according to FactSet. Pfizer issued a reset in December, laying out guidance for 2024 that was well below what analysts had expected, and highlighting a $4 billion cost savings program. It said it expects adjusted diluted earnings of between $2.05 and $2.25 this year, and revenue between $58.5 billion and $61.5 billion. The consensus estimate is $2.27 per share. Pfizer shares are down 4.9% so far this year, and 37.1% over the past 12 months. The company made a string of major deals in recent years, notably the $43 billion acquisition of the cancer-focused biotech Seagen, and the $11 billion acquisition of Biohaven Pharmaceuticals in 2022. Those
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CFRA Keeps Hold Opinion On Shares Of General Dynamics Corporation
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target price of $275, raised $20, reflects a 16.5x multiple of projected ’25 EPS, slightly above GD’s long-term historical forward average. We think a modest premium is reasonable given what should be an improving operating margin environment. We cut our ’24 EPS estimate by $0.17 to $14.67 and start ’25’s at $16.63. Q4 EPS of $3.64 vs. $3.58, missed the consensus view by $0.03, but we believe the miss was due entirely to the Gulfstream G700 not being certified by year-end, yielding fewer sales of the G700 in Q4 than expected. We do think GD can recover most of the lost ground on this front in ’24. GD’s book-to-bill ratio in Q4 in Aerospace was a solid 1.2x, and we think this augurs well over
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UPS Earnings Could Say a Lot About the Economy and Labor Costs — Barrons.com
United Parcel Service’s fourth-quarter earnings, due Tuesday morning, will tell investors a lot about how the economy looks heading into a new year. For the quarter, Wall Street is looking for UPS to report an operating profit of $2.8 billion and earnings per share of $2.44 from sales of $25.4 billion, according to Bloomberg. A year ago, UPS reported an operating profit of $3.2 billion and EPS of $3.62 from sales of $27 billion. Weaker volumes from a slowing economy are partly responsible. Labor negotiations also are to blame — some businesses left the UPS network to avoid being caught in a potential work stoppage. While UPS managed to avoid a strike with the Teamsters union, the new labor deal created another issue. Workers received big wage increases to help offset high inflation in recent years. It is hard for UPS to raise prices all at once to offset labor
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Skyworks Solutions’s Earnings: A Preview
Skyworks Solutions (NASDAQ:SWKS) is set to give its latest quarterly earnings report on Tuesday, 2024-01-30. Here’s what investors need to know before the announcement. Analysts estimate that Skyworks Solutions will report an earnings per share (EPS) of $1.95. Skyworks Solutions 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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UBS raises General Dynamics (NYSE:GD) price target from $286 to $296
UBS analyst Gavin Parsons maintains General Dynamics (NYSE:GD) with a Neutral and raises the price target from $286 to $296.
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Intel (NASDAQ:INTC) Stock Analyst Ratings
Intel (NASDAQ:INTC) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/29/2024 -9.24% Goldman Sachs $34 → $39 Maintains Sell 01/26/2024 28% Mizuho $58 → $55 Maintains Buy 01/26/2024 44.29% Benchmark $52 → $62 Maintains Buy 01/26/2024 -60.44% Rosenblatt → $17 Reiterates Sell → Sell 01/26/2024 -9.24% Goldman Sachs $34 → $39 Maintains Sell 01/26/2024 11.71% Wells Fargo $52 → $48 Maintains Equal-Weight 01/26/2024 -6.91% Wedbush $45 → $40 Maintains Neutral 01/26/2024 21.01% 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 -60.44% Rosenblatt → $17 Reiterates Sell → Sell 01/23/2024 16.36% Cantor Fitzgerald → $50 Initiates Coverage On → Neutral 01/19/2024 25.67% Raymond James $48 → $54 Maintains Outperform 01/18/2024 -2.26% Susquehanna $38 → $42 Maintains Neutral 01/16/2024 2.4% Barclays $32 → $44 Maintains Equal-Weight 01/04/2024 53.6%
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KLA (NASDAQ:KLAC) Stock Analyst Ratings
KLA (NASDAQ:KLAC) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/29/2024 7.36% Goldman Sachs $560 → $640 Maintains Buy 01/29/2024 13.24% Susquehanna $640 → $675 Downgrades Positive → Neutral 01/26/2024 -7.73% Barclays $500 → $550 Maintains Underweight 01/26/2024 4.85% Cantor Fitzgerald → $625 Reiterates Neutral → Neutral 01/26/2024 21.62% JP Morgan $565 → $725 Maintains Overweight 01/26/2024 7.36% Goldman Sachs $560 → $640 Maintains Buy 01/26/2024 18.27% Wells Fargo $670 → $705 Maintains Overweight 01/26/2024 15.75% Berenberg $670 → $690 Maintains Buy 01/23/2024 4.85% Cantor Fitzgerald → $625 Initiates Coverage On → Neutral 01/19/2024 4.85% Raymond James $550 → $625 Maintains Outperform 01/16/2024 4.85% Stifel $535 → $625 Maintains Buy 01/16/2024 -16.12% Barclays $425 → $500 Maintains Underweight 12/18/2023 22.46% New Street Research → $730 Initiates Coverage On → Buy 11/22/2023 -7.73% Redburn Atlantic → $550 Initiates Coverage On → Neutral 10/26/2023
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Goldman Sachs raises KLA (NASDAQ:KLAC) price target from $560 to $640
Goldman Sachs analyst Toshiya Hari maintains KLA (NASDAQ:KLAC) with a Buy and raises the price target from $560 to $640.
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Blackstone (NYSE:BX) Stock Analyst Ratings
Blackstone (NYSE:BX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/29/2024 9.7% UBS $134 → $140 Maintains Buy 01/26/2024 -24.77% JP Morgan $91 → $96 Maintains Neutral 01/26/2024 -20.86% BMO Capital $95 → $101 Maintains Market Perform 01/26/2024 5% Wells Fargo $130 → $134 Maintains Overweight 01/26/2024 -0.48% Keefe, Bruyette & Woods $123 → $127 Maintains Market Perform 01/24/2024 12.84% Morgan Stanley $120 → $144 Maintains Overweight 01/22/2024 1.87% Wells Fargo $127 → $130 Maintains Overweight 01/19/2024 -2.83% Citigroup $116 → $124 Downgrades Buy → Neutral 01/11/2024 — Oppenheimer Downgrades Outperform → Perform 01/04/2024 -7.53% TD Cowen → $118 Initiates Coverage On → Market Perform 01/03/2024 0.3% Goldman Sachs → $128 Downgrades Buy → Neutral 12/20/2023 17.54% Piper Sandler → $150 Assumes → Overweight 10/20/2023 -17.72% Oppenheimer $107 → $105 Maintains Outperform 10/20/2023 -11.45% Wells Fargo $118 → $113 Maintains Overweight 10/20/2023
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