CFRA Reiterates Buy Opinion On Shares Of Schlumberger Limited

/ / Energy /

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 of $56, up $1, reflects a 9.6x multiple of EV to projected 2024 EBITDA, below SLB’s historical average. We keep our 2024 EPS view at $3.59 and set 2025’s at $4.21. Q4 EPS of $0.86 vs. $0.71, beat consensus by $0.03. Q4 revenues (~$9B) grew 14% Y/Y, driven by its Production Systems segment (+33%). Q4 EBITDA margin (25%) rose by 95 bps, driven by its Reservoir Performance segment (+287 bps). SLB revealed its 2024 guidance for capex to be in the range of $2.6B (vs. $1.9B in 2023); however, we note that 2024’s guidance is the same as 2023’s (~$2.6B), which we think should insulate SLB from further revisions should activity growth surprise toward the upside. We estimate SLB with FCF in the range […]

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UnitedHealth Group (NYSE:UNH) Stock Analyst Ratings

/ / Health Care /

UnitedHealth Group (NYSE:UNH) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 15.26% Cantor Fitzgerald → $591 Reiterates Overweight → Overweight 01/17/2024 18.97% Oppenheimer → $610 Reiterates Outperform → Outperform 01/17/2024 13.31% Piper Sandler $584 → $581 Maintains Overweight 01/16/2024 17.99% Stephens & Co. $615 → $605 Maintains Overweight 01/16/2024 16.24% RBC Capital → $596 Reiterates Outperform → Outperform 12/18/2023 -6.38% HSBC $550 → $480 Downgrades Hold → Reduce 12/13/2023 14.09% Stephens & Co. → $585 Reiterates Overweight → Overweight 11/30/2023 18.97% Truist Securities → $610 Reiterates Buy → Buy 11/30/2023 16.24% RBC Capital → $596 Reiterates Outperform → Outperform 11/30/2023 14.09% Stephens & Co. → $585 Reiterates Overweight → Overweight 11/21/2023 15.26% Cantor Fitzgerald → $591 Reiterates Overweight → Overweight 11/20/2023 -1.9% Jefferies $565 → $503 Maintains Hold 10/23/2023 12.92% Morgan Stanley $587 → $579 Maintains Overweight 10/16/2023 16.24% RBC Capital

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Delta Air Lines to Move Forward With Boeing 737 Max 10 Order

/ / Consumer Discretionary /

Delta Air Lines (DAL) plans to move forward with its order for 100 Boeing 737 Max 10 aircraft, CNBC reported Friday, citing Delta CEO Ed Bastian. Delta ordered the aircraft in 2022 and deliveries are expected to begin in 2025, the report said. The Max 10 is the largest model of Boeing 737 and has still not received approval from regulators, according to the report. Boeing is facing issues related to the Max 9 aircraft as it was grounded by the Federal Aviation Administration following an incident on an Alaska Airlines flight on Jan. 5. “We certainly will not take them ’til we have 1,000% confidence that that plane is fully secure, fully safe and…everyone has signed off to that,” Bastian told CNBC. Delta and Boeing did not immediately respond to MT Newswires’ requests for comment. Delta shares were down nearly 3.2% in recent Friday trading.

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Meta Platforms Steps Up AI Efforts to Build General Intelligence

/ / Technology /

Meta Platforms (META) is bringing its two major artificial intelligence research groups “closer together” as part of its efforts to build general intelligence, Chief Executive Mark Zuckerberg said Thursday in posts on Instagram and Threads. “Our long term vision is to build general intelligence, open source it responsibly, and make it widely available so everyone can benefit,” Zuckerberg said. He also said the company is now training its next-generation model Llama 3 and building “massive” compute infrastructure to help achieve its goal. Zuckerberg expects the company to have 350,000 Nvidia (NVDA) H100 graphics processing units at the end of 2024, and 600,000 overall if other GPUs are included.

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Roku Sheds Bear As Promising Data Points Emerge

/ / Telecommunications /

New data points about digital ad spending bode well for streaming-device maker Roku, prompting a stock rating upgrade from one formerly bearish analyst. Seaport Research Partners analyst David Joyce is moving to a neutral rating from sell on the company after recent channel checks found digital ad buyers for a range of industry verticals and portfolio sizes are spending in the mid- to high-teen percentages within the ad-based streaming and internet-connected TV spaces. These new data points convey a 12% expected growth level for Roku’s 4Q, up from previous estimates for about 9.1% growth, Joyce says. He notes too that Roku has maintained its usage share and has a stronger demand profile among streamers.

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Costco’s Screaming Deal: Bargains Meet Luxury As Screaming Eagle Wine Lands On Warehouse Shelves

/ / Consumer Discretionary /

Costco, the retail giant known for bulk buys and unbeatable bargains, is adding a touch of luxury to its aisles with the addition of the exclusive and coveted Screaming Eagle wine. Not that $3,699 for a bottle of the Screaming Napa Valley Cabernet Sauvignon is cheap — the average price of a 2018 bottle of the wine is $4,720, according to Wine Searcher. Considered a rare find, Screaming Eagle wine ranks as America’s second most expensive wine on Wine Searcher. Screaming Eagle has 57 acres of vineyards and an annual production of about 500 cases, according to VinePair. The waiting list for the wine is so long that the vineyard can’t give a firm timeframe for delivery, according to the Screaming Eagle website. Don’t Miss: Many NBA players, including LeBron James, have ventured into fine wine investments as an alternative asset. Now you can too with just $25. Investing in

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EV Bloodbath Continues. Tesla Stock Set for Disappointing Record. — Barrons.com

/ / Consumer Discretionary /

The start of the year hasn’t been great for electric-vehicle enthusiasts. The cold in Chicago stranded some unlucky EV drivers. Tesla has cut prices in China and Europe. Ford Motor is scaling back production of its F-150 Lightning electric truck in the U.S. Worst of all, the stocks of EV producers have just been terrible in January, and Friday trading is no exception. Tesla stock was down 1.6% in midday Friday trading at $208.51. That’s left shares down 16% so far in January. The S&P 500 and Nasdaq Composite were up 0.5% and 0.6%, respectively. Tesla is on the cusp of an ignominious record. If shares clos lower on Friday, it will be the 10th trading day of losses out of the first 12 — the worst start of any year in Tesla’s history. Shares fell nine out of the first 12 trading days to start 2015 and 2016. Still,

EV Bloodbath Continues. Tesla Stock Set for Disappointing Record. — Barrons.com Read Post »

Rising Home Prices A Tailwind For Home-Improvement Retailers

/ / Consumer Discretionary /

Despite lower housing turnover in December, the latest home sales report still has some positive signs for home-improvement retailers. DA Davidson analyst Michael Baker says in a research note that home prices are historically a more significant driver of sales than home turnover for retailers like Home Depot and Lowe’s. Home prices increased 4.4% from a year ago on average in December, the sixth-straight month of year-on-year increases and an acceleration on a year-over-year basis, according to DA Davidson. Firmer home prices will likely help those retailers’ sales. Baker says the report could be an early sign of nearing an inflection point for home-related stocks. Home Depot rises 0.8%, while Lowe’s gains 0.9%.

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Schlumberger Q4 Adjusted Earnings, Revenue Increase

/ / Energy /

Schlumberger (SLB) shares were up 2.3% in recent Friday trading after the company reported Q4 adjusted earnings of $0.86 per diluted share, up from $0.71 a year earlier. Analysts polled by Capital IQ expected $0.83. Revenue for the quarter ended Dec. 31 was $8.99 billion, compared with $7.88 billion a year earlier. Analysts surveyed by Capital IQ expected $8.94 billion. The oil services company said its board raised the quarterly dividend to $0.275 per share from $0.25, payable on April 4 to shareholders of record as of Feb. 7.

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Qualcomm (NASDAQ: QCOM) Stock Analyst Ratings

/ / Technology /

Qualcomm (NASDAQ: QCOM) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 15.33% Canaccord Genuity $152 → $175 Maintains Buy 01/18/2024 5.44% Rosenblatt → $160 Reiterates Buy → Buy 01/16/2024 2.15% Barclays $140 → $155 Maintains Overweight 01/16/2024 8.74% Keybanc $145 → $165 Maintains Overweight 01/12/2024 5.44% Citigroup → $160 Upgrades Neutral → Buy 12/08/2023 -13.01% Morgan Stanley $119 → $132 Downgrades Overweight → Equal-Weight 11/03/2023 -7.74% DZ Bank → $140 Upgrades Hold → Buy 11/02/2023 -7.74% JP Morgan $135 → $140 Maintains Overweight 11/02/2023 -7.74% Susquehanna $130 → $140 Maintains Positive 11/02/2023 -21.58% Morgan Stanley $129 → $119 Maintains Overweight 10/24/2023 -14.33% Susquehanna $140 → $130 Maintains Positive 09/14/2023 -4.44% Rosenblatt → $145 Reiterates Buy → Buy 09/14/2023 -4.44% Keybanc → $145 Reiterates Overweight → Overweight 09/12/2023 -34.1% Wells Fargo $95 → $100 Maintains Underweight 08/23/2023 -7.74% Mizuho → $140 Reiterates

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DoorDash Raising Delivery Fees in New York After Minimum-Wage Increase

/ / Technology /

DoorDash (DASH) has raised the commission rates it charges restaurants and other merchant partners and plans to soon boost the delivery fees customers in New York City pay to offset the impact of a recent increase in the minimum wage paid to delivery workers, the company said in an email statement this week to MT Newswires. The pay floor for delivery workers rose to $17.96 per hour last month after a measure approved last summel. In response, DoorDash said the commission rate for delivery orders rose Wednesday to 23% and to 8% for pickup orders, up from 20% and 5%, respectively — the maximum amounts allowed under the city’s pandemic-era delivery rules. DoorDash and rivals Uber (UBER) and Grubhub, the US subsidiary of Dutch tech company Just Eat Takeaway.com, all fought the minimum-wage increase while it was before the New York City Council and later in unsuccessful court fights. DoorDash,

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Meta’s Billion-Dollar Bet On Nvidia’s AI Chips Could Reshape The Tech Landscape And Catapult Stocks To Unprecedented Heights

/ / Technology /

Meta is making a significant investment in Nvidia’s AI chips, a move that positions Nvidia as a leading player in AI chip production. These sought-after H100 graphics cards from Nvidia, essential for advanced AI algorithm development and implementation, come with a high price tag. Nvidia’s engagement in AI has led to a remarkable surge in its stock value, with a 235% uptrend in 2023. Meta is investing substantially in Nvidia’s AI chips. This investment positions Nvidia as a leader in AI chip production. Meta aims to integrate 350,000 H100 graphics cards from Nvidia into their systems by the end of 2024. These high-performance graphics cards, sought after by many, carry a hefty price tag of over $30,000 and can exceed $40,000 on platforms like eBay due to their high demand. Yann LeCun, Meta’s Chief Scientist, has highlighted the essential role of GPUs (Graphics Processing Units) in advancing AI. The use

Meta’s Billion-Dollar Bet On Nvidia’s AI Chips Could Reshape The Tech Landscape And Catapult Stocks To Unprecedented Heights Read Post »

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