RBC Lifts Price Target on American Express to $226 From $220, Notes ‘Core Trends Remain Strong,’ Keeps Outperform Rating。
RBC Lifts Price Target on American Express to $226 From $220 Read Post »
By Will Feuer Tesla expects to spend more than $10 billion in capital expenditures in the current fiscal year, but expects that figure to decline in the following two years. The Elon Musk-led electric vehicle maker disclosed the guidance in a regulatory filing containing its annual report. For fiscal 2025 and fiscal 2026, Tesla said it is targeting capital expenditures of $8 billion to $10 billion. The company cautioned that various factors, including potentially shifting company priorities and the addition of new projects, could affect the guidance. The company also said it expects to be able to fund itself and its expansion “as long as macroeconomic factors support current trends in our sales.” Tesla said it is likely to see heightened levels of capital expenditures over certain periods due to various factors such as labor availability, supply-chain issues, material prices and trade conditions. Write to Will Feuer at Will.Feuer@wsj.com
Tesla Expects Capital Expenditures to Decline After Fiscal 2024 Read Post »
By Adam Clark Advanced Micro Devices got a show of support last week when Elon Musk said he would buy its chips to power artificial-intelligence efforts at Tesla. Wall Street is betting its earnings will provide further proof of AMD’s AI chip potential. AMD stock was up 1.8% at $180.44 in premarket trading on Monday. That continued the movement seen after market hours last Friday when Musk said on social-media platform X that Tesla would buy the company’s chips, while also spending more than $500 million on Nvidia hardware this year. Musk didn’t give a comparable figure for potential spending on AMD’s products but it still looked like good news for its MI300 data-center chips, the company’s main AI hardware offering. There could be more good news coming. AMD will report its fourth-quarter earnings on Tuesday and most of the attention will be on its guidance. AMD CEO Lisa Su
Amazon and iRobot Agree to Terminate Pending Acquisition Amazon’s proposed acquisition of iRobot has no path to regulatory approval in the European Union, preventing Amazon and iRobot from moving forward together–a loss for consumers, competition, and innovation. SEATTLE & BEDFORD, Mass.–(BUSINESS WIRE)–January 29, 2024– Today Amazon (NASDAQ: AMZN) and iRobot (NASDAQ: IRBT) announced that they have entered into a mutual agreement to terminate their previously announced acquisition agreement, originally signed on August 4, 2022, under which Amazon would have acquired iRobot for cash consideration. This deal would have allowed Amazon to invest in continued innovation by iRobot and support iRobot in lowering prices on products customers already love. The companies released the following statements today about the decision: “We’re disappointed that Amazon’s acquisition of iRobot could not proceed,” said David Zapolsky, Amazon SVP and General Counsel. “We’re believers in the future of consumer robotics in the home and have always
Amazon and IRobot Agree to Terminate Pending Acquisition Read Post »
Franklin Resources, Inc. Announces First Quarter Results SAN MATEO, Calif.–(BUSINESS WIRE)–January 29, 2024– Franklin Resources, Inc. (the “Company”) [NYSE: BEN] today announced net income(1) of $251.3 million or $0.50 per diluted share for the quarter ended December 31, 2023, as compared to $295.5 million or $0.58 per diluted share for the previous quarter, and $165.6 million or $0.32 per diluted share for the quarter ended December 31, 2022. Operating income was $206.5 million for the quarter ended December 31, 2023, as compared to $338.3 million for the previous quarter and $194.0 million for the prior year. As supplemental information, the Company is providing certain adjusted performance measures which are based on methodologies other than generally accepted accounting principles. Adjusted net income(2) was $328.5 million and adjusted diluted earnings per share(2) was $0.65 for the quarter ended December 31, 2023, as compared to $427.0 million and $0.84 for the previous quarter,
Franklin Resources, Inc. Announces First Quarter Results Read Post »
Franklin Resources (NYSE:BEN) reported quarterly Adj earnings of $0.65 per share which beat the analyst consensus estimate of $0.57 by 14.04 percent. This is a 27.45 percent increase over earnings of $0.51 per share from the same period last year. The company reported quarterly sales of $1.99 billion which beat the analyst consensus estimate of $1.52 billion by 31.25 percent. This is a 1.22 percent increase over sales of $1.97 billion the same period last year.
Southwest Airlines (LUV) said Monday that it is adding additional flights from Feb. 8 to Feb. 10 from Kansas City and San Francisco to Las Vegas in anticipation of the upcoming 58th iteration of the Super Bowl. Following the game’s outcome, Southwest plans to add more flights to facilitate the return of fans to their respective destinations on Feb. 12 and Feb. 13, the company said.
Franklin Resources (BEN) reported fiscal Q1 adjusted earnings Monday of $0.65 per diluted share, up from $0.51 a year earlier. Analysts polled by Capital IQ expected $0.58. Revenue for the quarter ended Dec. 31 was $1.99 billion, compared with $1.97 billion a year earlier. Analysts surveyed by Capital IQ expected $1.91 billion. Shares of Franklin Resources were up 5.8% in recent premarket activity on Monday.
Franklin Resources’ Fiscal Q1 Adjusted Earnings, Revenue Rise Read Post »
I canceled my Full-Self Driving subscription. Whether that’s bad news or good news for Tesla depends on your point of view. I’m 10,000 miles into my Tesla ownership journey. The milestone was reached quickly. I purchased a rear-wheel drive Model 3 — with the help of a bank and tax credits — in late June, about seven months ago. Owning and driving an EV — compared with the many EV test drives taken — has been eye-opening. Let’s start with Full-Self Driving or FSD. I added a subscription about a month in, just ahead of several road trips involving college, family, and some time off. I reviewed the system after about 1,000 miles of FSD driving. It’s impressive. The car did 95% of the driving all by itself, but it still needed human supervision. I took over driving one or two times a trip, on average, because of vehicle hesitation,
I Just Cancelled My Tesla Full-Self Driving Subscription. — Barrons.com Read Post »
The 737 MAX 9 is back in service, about three weeks after the Federal Aviation Administration grounded the jet following the midair blowout of an emergency door plug on an Alaska Air flight. Three weeks doesn’t sound so bad, but the damage done to Boeing shares can’t be measured by the relatively short delay in airline service and aircraft deliveries. The 737 MAX 9 door plug incident has added a lot more uncertainty for investors. Investors hate uncertainty. Saturday, United Airlines Flight 1525 from Newark to Las Vegas departed at 10:30 a.m. local time and was the first United passenger flight on a Boeing MAX 9. Alaska Air completed the first flight of a MAX 9 post-grounding on Jan. 26. The three-week delay shouldn’t impact Boeing’s 2024 aircraft deliveries, or production all that much. The compensation paid to airline customers who lost out on sales by having part of their
Boeing’s 737 MAX 9 Is Back. Here’s What Comes Next. — Barrons.com Read Post »
3M Delivers Strong Fourth-Quarter Results; Improves Operational Performance and Exceeds Earnings and Cash Flow Expectations PR Newswire ST. PAUL, Minn., Jan. 23, 2024 — Results reflect strong operational execution, progress on restructuring, and spending discipline — Well-positioned to continue improving performance, including continued expansion of adjusted operating margins3 in 2024 — Health Care spin remains on track for first half of 2024 ST. PAUL, Minn., Jan. 23, 2024 /PRNewswire/ — 3M (NYSE: MMM) today reported fourth-quarter and full-year 2023 results and provided its 2024 financial outlook. “The fourth quarter capped a strong year for 3M,” said 3M chairman and CEO Mike Roman. “Throughout 2023, we executed our priorities and delivered on our commitments — including expanding underlying operating margins and cash flow. We initiated actions to restructure our organization and simplify our supply chain, while progressing our Health Care spin and addressing legal matters.” “Our team remains focused on further
3M (NYSE:MMM) reported quarterly earnings of $2.42 per share which beat the analyst consensus estimate of $2.31 by 4.76 percent. This is a 11.01 percent increase over earnings of $2.18 per share from the same period last year. The company reported quarterly sales of $7.69 billion which missed the analyst consensus estimate of $7.70 billion by 0.09 percent. This is a 4.78 percent decrease over sales of $8.08 billion the same period last year.