Apple, Boeing, GM Usher in Latest Week of Packed Earnings — WSJ

/ / Technology /

By Denny Jacob Apple, Starbucks and General Motors are among the companies reporting earnings in the coming days, providing investors clues as to whether accelerated consumer spending will continue to bolster the U.S. economy. Microsoft will reveal its results Tuesday, while Google parent Alphabet and e-commerce giant Amazon.com will report Tuesday and Thursday, respectively. The tech juggernauts are among the “Magnificent 7” companies expected to help drive S&P 500 earnings higher after the index reached a record. Apple will report Thursday. Microsoft has dethroned the iPhone maker as the largest U.S. company by market value. Apple’s share price has recovered after a slow start to the year amid concerns about sluggish sales. Boeing is set to report Wednesday after regulators put limits on the jet maker’s production of 737 MAX aircraft following a midair incident on an Alaska Airlines flight earlier this month that reignited air-safety concerns. The fallout from […]

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Cathie Wood Reinforces Faith In Tesla Despite Stock’s Slump Following Q4 Double Miss, Ark Buys Whopping $66M Worth Of EV Maker’s Shares

/ / Consumer Discretionary /

Tesla, Inc. (NASDAQ:TSLA) stalled its post-earnings sell-off on Friday and ended modestly higher for the session. As the stock bounces around an eight-month low, Cathie Wood’s Ark Invest continued to pile into the stock. What Happened: Ark’s flagship exchange-traded fund, the Ark Innovation ETF (NYSE:ARK), and the Ark Next Generation ETF (NYSE:ARKW) accumulated 182,541 Tesla shares Friday. At Friday’s close of $183.25, the purchase is valued at $33.45 million. On Thursday, after the stock’s 12%+ drop, Ark beefed up its Tesla stake by 177,870 shares or $32.48 million. The aggregate purchase for the week was $65.93M worth of Tesla shares.

Cathie Wood Reinforces Faith In Tesla Despite Stock’s Slump Following Q4 Double Miss, Ark Buys Whopping $66M Worth Of EV Maker’s Shares Read Post »

Amazon To Introduce Ads To Prime Video, Potentially Generating Billions In Revenue

/ / Consumer Discretionary /

Beginning Monday, Amazon.com Inc (NASDAQ:AMZN) will introduce ads on its Prime Video platform. What Happened: This strategic decision aims to bolster Amazon’s already substantial $38 billion advertising business, signaling a significant shift in the streaming advertisement arena. Amazon’s entry into the streaming ad wars presents a lucrative opportunity for advertisers struggling to connect with audiences scattered across various streaming services. With its extensive data and broad advertising options, Amazon is poised to become a formidable competitor to traditional TV networks and digital platforms like YouTube. This initiative comes as Netflix Inc (NASDAQ:NFLX) is also rapidly developing its advertising business. Analysts from Wall Street project that Amazon’s advertising venture could generate over $5 billion in revenue. According to a report by Business Insider, this revenue stream is expected to come primarily from advertising, supplemented by a $3 monthly fee from Prime Video viewers who opt out of ads. Setting itself apart

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Intel Has Tough Road Ahead, Needham Says

/ / Technology /

On the heels of Intel’s tepid 1Q sales guidance, Needham downgrades shares of the chip maker to hold from buy. In a research note, Needham says Intel’s current elevated valuation, reduced revenue estimates, increasing competition in core and non-core markets and distant Intel Foundry Services revenue contributions are all setting up for a more difficult road ahead. Needham says that even after Intel’s after-hours selloff, its valuation topping 20x the firm’s reduced 2025 EPS estimate isn’t compelling compared to faster growing AI peers. Intel down more than 9% premarket to $44.69.

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ServiceNow (NYSE:NOW) Stock Analyst Ratings

/ / Technology /

ServiceNow (NYSE:NOW) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/26/2024 15.14% Citigroup $862 → $896 Maintains Buy 01/26/2024 16.94% Goldman Sachs $800 → $910 Maintains Buy 01/25/2024 13.73% UBS $865 → $885 Maintains Buy 01/25/2024 11.8% Baird $780 → $870 Maintains Outperform 01/25/2024 5.37% Mizuho $750 → $820 Maintains Buy 01/25/2024 9.23% RBC Capital $840 → $850 Maintains Outperform 01/25/2024 -3.62% Truist Securities $700 → $750 Maintains Hold 01/25/2024 5.37% Stifel $740 → $820 Maintains Buy 01/25/2024 9.23% BMO Capital $630 → $850 Maintains Outperform 01/25/2024 16.94% Goldman Sachs $800 → $910 Maintains Buy 01/25/2024 6.66% Piper Sandler $750 → $830 Maintains Overweight 01/25/2024 14.37% Barclays $870 → $890 Maintains Overweight 01/25/2024 15.65% Needham → $900 Reiterates Buy → Buy 01/23/2024 11.8% Barclays $765 → $870 Maintains Overweight 01/22/2024 6.02% JMP Securities $665 → $825 Maintains Market Outperform 01/22/2024 15.65% Needham

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Tesla (NASDAQ:TSLA) Stock Analyst Ratings

/ / Consumer Discretionary /

Tesla (NASDAQ:TSLA) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/26/2024 -29.7% JP Morgan $135 → $130 Maintains Underweight 01/26/2024 21.14% Citigroup $255 → $224 Maintains Neutral 01/26/2024 18.98% Goldman Sachs $255 → $220 Maintains Neutral 01/25/2024 21.68% UBS $229 → $225 Maintains Neutral 01/25/2024 62.24% Baird → $300 Reiterates Outperform → Outperform 01/25/2024 70.35% Wedbush $350 → $315 Maintains Outperform 01/25/2024 46.02% Mizuho $310 → $270 Maintains Buy 01/25/2024 60.62% RBC Capital $300 → $297 Maintains Outperform 01/25/2024 4.38% Truist Securities $227 → $193 Maintains Hold 01/25/2024 21.68% Barclays $250 → $225 Maintains Equal-Weight 01/25/2024 18.98% Goldman Sachs $255 → $220 Maintains Neutral 01/25/2024 15.19% KGI Securities $309 → $213 Downgrades Outperform → Neutral 01/24/2024 -8.06% Redburn Atlantic → $170 Initiates Coverage On → Sell 01/23/2024 89.28% Wedbush → $350 Reiterates Outperform → Outperform 01/18/2024 35.2% Barclays $260 → $250 Maintains

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Intel Corporation (INTC) Q4 2023 Earnings Call Transcript Summary

/ / Technology /

The following is a summary of the Intel Corporation (INTC) Q4 2023 Earnings Call Transcript: Financial Performance: Intel reported Q4 revenue of $15.4 billion, up 9% sequentially and 10% year-over-year, with a gross margin of 48.8%. Earnings per Share (EPS) was $.54 for the quarter, reflecting successful cost and operational management. Intel’s operating cash flow for Q4 was $4.6 billion, demonstrating good liquidity. CCG generated revenue of $8.8 billion, a year-on-year increase of 33%. DCAI revenue stood at $4 billion, with Mobileye contributing a record revenue of $637 million. Business Progress: Progress on IDM 2.0 strategy saw Intel taking significant steps towards their 2023 financial commitments amid macroeconomic headwinds. The Client Computing Group saw a boom in gaming and commercial segments and achieved record notebook shipments. Server business under DCAI experienced double-digit growth sequentially. Mobileye design wins are anticipated to bring in over $7 billion of future revenue. Intel plans

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Visa Growth Potential Seen Underestimated

/ / Industrials /

Visa’s persistent growth continues to be underestimated by Wall Street, UBS analysts say in a research note. The digital payments company has attractive qualities in the current environment and could grow through moderate recessionary conditions, analysts say. The company also has high-quality EPS and margins. Still, investors are concerned about cash to card conversion slowing, as well as on U.S. online debit routing, creating an attractive buying opportunity, analysts add. Shares fall 1.4% to $268.93.

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Visa’s Earnings May Benefit From Robust International Travel, Morgan Stanley Says; Raises Price Target to $318

/ / Industrials /

Visa’s (V) earnings could benefit from the ongoing strength of international travel, Morgan Stanley said Friday in a note. The investment firm’s expectations are based on management’s commentary on healthy travel volumes in Latin America, Europe, Central Europe, Middle East, and Africa and the US. Visa’s international volumes showed healthy growth while US domestic spending witnessed a slowdown due to various transient factors, including a less favorable mix of weekends, softer performance in October and impacts from debit card regulations, the brokerage firm said. Morgan Stanley revised the price target on V’s stock to $318 from $292 and reiterated overweight rating.

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Comcast Likely to Perform Well Due to Good Long Term Position in Media Businesses, Oppenheimer Says

/ / Telecommunications /

Comcast (CMCSA) is expected to perform well in a competitive environment because of its good long-term position in media businesses, Oppenheimer said in a note Friday. The company’s video losses are stabilizing and were in line with the previous year, the investment firm said. Comcast’s mobile additions have slowed in the last four quarters but remain on par with last year and its Peacock streaming service profits from a strong pipeline of sports content and original shows/ films, according to the note. Oppenheimer said it continues to favor Comcast over Charter Communications because it keeps improving margins, has a strong balance sheet and considerably less exposure to declines in legacy cable broadband and video markets. Additionally, Comcast has a more updated network and is returning huge amounts of capital to shareholders through dividends and buybacks, the brokerage firm said. Oppenheimer reiterated Comcast’s stock outperform rating and price target of $55.

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Airbnb to Collect Higher Service Fee for Cross-Currency Bookings Starting April 1

/ / Consumer Discretionary /

Airbnb (ABNB) said it will charge a higher guest service fee for cross-currency bookings starting April 1. In a notice on its website, the vacation rental company said an additional amount will be added to the service fee if the guest pays using currencies other than the one used by the host for the listing. “For these cross-currency bookings, the guest service fee will include an additional amount, resulting in a guest service fee of up to 16.5% of the booking subtotal,” the notice said. Most guest service fees are currently under 14.2% of the booking subtotal.

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