Intuitive Surgical (NASDAQ:ISRG) stock Analyst Ratings

/ / Health Care /

Intuitive Surgical (NASDAQ:ISRG) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/12/2024 10.14% RBC Capital $380 → $400 Maintains Outperform 01/03/2024 2.43% Raymond James $310 → $372 Maintains Outperform 12/22/2023 7.38% Truist Securities $375 → $390 Maintains Buy 12/12/2023 3.25% Truist Securities $320 → $375 Maintains Buy 12/04/2023 -9.14% Morgan Stanley $300 → $330 Maintains Equal-Weight 11/17/2023 -3.63% Stifel $315 → $350 Maintains Buy 11/17/2023 -12.44% HSBC → $318 Initiates Coverage On → Buy 10/23/2023 -17.4% Morgan Stanley $330 → $300 Maintains Equal-Weight 10/20/2023 -10.51% Piper Sandler $385 → $325 Maintains Overweight 10/20/2023 -2.25% RBC Capital → $355 Reiterates Outperform → Outperform 10/20/2023 7.38% Citigroup $400 → $390 Maintains Buy 10/20/2023 -0.05% Wells Fargo $386 → $363 Maintains Overweight 10/20/2023 -14.64% Raymond James $368 → $310 Maintains Outperform 10/16/2023 -5.83% Leerink Partners → $342 Initiates Coverage On → Outperform 08/17/2023 -0.88% RBC […]

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Marvell Technology (NASDAQ:MRVL) stock Analyst Ratings

/ / Technology /

Marvell Technology (NASDAQ:MRVL) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/12/2024 14.09% Citigroup $61 → $75 Maintains Buy 12/05/2023 6.48% Barclays $75 → $70 Maintains Overweight 12/01/2023 6.48% UBS $75 → $70 Maintains Buy 12/01/2023 6.48% Piper Sandler $75 → $70 Maintains Overweight 12/01/2023 14.09% Benchmark → $75 Reiterates Buy → Buy 12/01/2023 -1.13% Susquehanna $70 → $65 Maintains Positive 12/01/2023 -4.17% Morgan Stanley $65 → $63 Maintains Equal-Weight 12/01/2023 -5.69% Raymond James $64 → $62 Maintains Outperform 12/01/2023 -1.13% Needham → $65 Reiterates Buy → Buy 12/01/2023 52.11% Rosenblatt → $100 Reiterates Buy → Buy 12/01/2023 6.48% Keybanc $80 → $70 Maintains Overweight 11/30/2023 52.11% Rosenblatt → $100 Reiterates Buy → Buy 11/14/2023 -8.73% Roth MKM → $60 Initiates Coverage On → Buy 08/25/2023 14.09% B of A Securities $80 → $75 Maintains Buy 08/25/2023 -1.13% Morgan Stanley $68 →

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Delta Air Lines Uses More Jet Fuel in 2023 at Lower Cost — OPIS

/ / Consumer Discretionary /

Delta Air Lines released fourth-quarter and full-year 2023 earnings statements Friday, revealing a lower cost of jet fuel for the year despite significantly higher use. Fourth-quarter data did show a small jump in cost over the same quarter in the prior year, however. In the fourth quarter, Delta spent $2.933 billion on fuel and related costs, an almost 3% uptick from the last quarter of 2022 when the airline spent $2.849 billion on fuel. Full-year data, though, showed a lower yearly cost. Over the course of 2023, Delta spent $11.121 billion on fuel, a 2.90% decrease over the full year 2022 figure of $11.453 billion. In terms of total gallons used, however, both fourth-quarter and full-year 2023 levels were much higher than prior years. In the fourth quarter of 2023, Delta used 978 million gallons of fuel. That’s a big 12.54% spike from the fourth quarter in the prior year,

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Netflix’s Surging Ad Subscribers Ignite Optimism, Analyst Bumps Up Price Target By 26%

/ / Consumer Discretionary /

Oppenheimer analyst Jason Helfstein maintained Netflix Inc (NASDAQ:NFLX) with an Outperform and raised the price target from $475 to $600. On Wednesday, NFLX’s President of Advertising announced ad Monthly Active Users (MAUs) >23 million vs. 15 million in November & 5 million in May, indicating an accelerating pace of ad subscribers. Near-term, the acceleration suggests 4Q net adds above guidance and Street. Over the medium-term, the analyst noted the pace of acceleration offers plenty of room for subscriber growth in 2024 and is conservatively raising his 4Q and FY24 net adds to +10 million and +24 million vs. prior +9 million and +21 million and Street’s +9 million and 18 million, respectively. Assuming year-end 2024 ad MAU of 50 million (~25 million subscribers), the analyst now estimates $40 billion and 46 billion of total revenue (+20% and +14% Y/Y) in FY24 and FY25 vs. Street’s $38 billion and $43 billion (+14% and +11%).

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Car Prices Are Showing No Sign of UAW Wage Increases. What It Means for Auto Makers. — Barrons.com

/ / Consumer Discretionary /

The United Auto Workers Union’s record wage increases from the Detroit-Three auto makers went into effect in November amid cries about coming car price inflation. It’s early, but auto workers’higher pay has, essentially, shown no impact on new car prices. Recent pricing trends hold some important information for both investors and the UAW, about pricing, profits, and how the car industry works. Kelly Blue Book, on Thursday, updated U.S. new car pricing for December. The average transaction price came in at $48,759. That’s up from the $48,247 average transaction in November but down 2.4% year over year. The December 2022 average transaction price of $49,507 was an all-time high. The rise in prices in December 2023 from November reflect some seasonal factors, as prices typically rise at the end of the year. What’s more, December marks the fourth consecutive month of year-over-year declines, which is “unique,” according to Kelly Blue

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Bank of America Corporation (BAC) Q4 2023 Earnings Call Transcript Summary

/ / Financials /

The following is a summary of the Bank of America Corporation (BAC) Q4 2023 Earnings Call Transcript: Financial Performance: Bank of America reported Q4 net income of $3.1 billion, or $0.35 per diluted share, with adjustments, Q4 net income was $5.9 billion, or $0.70 per share. The bank’s revenue was $22.1 billion which after adjustments amounts to $23.7 billion, marking a 4% decline. Expenses for the quarter were $17.7 billion, excluding the $2.1 billion FDIC charge, adjusted expenses were $15.6 billion. Bank of America reported $57.5 billion in Net Interest Income (NII) by the end of 2023, up by 9% compared to 2022. Loan growth remains slow due to lower revolver utilization and higher corporate cash balances. Despite challenges, the bank achieved 170 basis points of operating leverage in 2023. Full-year 2023 net income was $26.5 billion (adjusted net income $29.3 billion), resulting in $3.42 EPS, marking a 7% growth

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Target Faces Delays in Shipments Amid Red Sea Crisis

/ / Consumer Discretionary /

Target (TGT) is facing delays in receiving shipments from major apparel suppliers India and Pakistan amid the crisis in the Red Sea, Reuters reported Friday, citing a source familiar with the matter. The US retailer is working with its shippers to reroute shipments, according to the report. The extra shipment time and costs due to the rerouting are expected to be minimal, and the company is not thinking about using air freight at the moment, the report said. Target did not immediately reply to MT Newswires’ request for comment.

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BlackRock to Buy Global Infrastructure Partners for $12.5 Billion — 2nd Update

/ / Financials /

By Jack Pitcher BlackRock has agreed to buy private-equity firm Global Infrastructure Partners for roughly $12.5 billion in cash and stock, a significant push into private-market investments for the world’s largest asset manager. New York-based GIP owns and operates energy, transportation, and water and waste companies, including a stake in London’s Gatwick Airport. The acquisition would be BlackRock’s largest since it bought Barclays’s asset management business in 2009. BlackRock separately reported its assets under management topped $10 trillion at the end of the fourth quarter for just the second time in its history. To acquire GIP, BlackRock will pay $3 billion in cash and 12 million of its own shares, worth about $9.5 billion based on Thursday’s closing price. GIP is majority owned by its six founding partners, who will collectively become among the largest shareholders of BlackRock by acquiring about 8% of the shares outstanding, according to a person

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Microsoft Tops Apple for Title of World’s Most Valuable Public Company — Barrons.com

/ / Technology /

By Eric J. Savitz Microsoft edged past Apple Friday to reclaim the title of the world’s most valuable public company. The software giant now has a valuation of $2.89 trillion, slightly ahead of Apple at $2.87 trillion. Microsoft has been gradually closing the gap. Over the last 12 months, its shares have rallied 62.9%, versus a 39.4% gain for Apple. So far in 2024, Microsoft shares are 3.3% higher, while Apple is off 3.4%. Microsoft’s valuation briefly exceeded Apple’s market cap on an intraday basis earlier this week, before falling back. Apple had spent more than 500 days as the stock market’s most valued company. Microsoft last held the top spot on a closing basis in November 2021. The emergence of the artificial intelligence software boom has been a boost to Microsoft shares. The company has been aggressively rolling out Copilot AI software across its portfolio, the Azure cloud business

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BlackRock, Inc. (BLK) Q4 2023 Earnings Call Transcript Summary

/ / Financials /

The following is a summary of the BlackRock, Inc. (BLK) Q4 2023 Earnings Call Transcript: Financial Performance: BlackRock posted $17.9 billion in full-year revenue in 2023, remaining relatively flat compared to the previous year. The company’s operating income was at $6.6 billion, a 2% decrease from 2022, while earnings per share increased by 7%, reaching $37.77. In Q4 2023, revenue was $4.6 billion, a 7% YOY increase. Operating income in Q4 increased by 9%, achieving $1.7 billion, while earnings per share of $9.66 increased by 8% compared to the same period in the previous year. BlackRock generated $289 billion in total net inflows and delivered 1% organic base fee growth. The company ended 2023 with significant momentum, generating $96 billion in total net inflows in Q4. For the year 2023, BlackRock returned over $4.5 billion to shareholders through dividends and share repurchases. Business Progress: BlackRock plans to accelerate in 2024,

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CFRA Keeps Strong Buy On Shares Of Delta Air Lines, Inc.

/ / Consumer Discretionary /

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 $48, down $1, is 6.5x our 2025 EPS view (started at $7.41; 2024’s raised to $6.51 from $6.49), below the 2018-2019 forward average of 8.5x. We think a discount is merited due to persistent delays in new aircraft deliveries that are expected to last until 2025. Q4 EPS of $1.28 vs. $1.48 beat consensus by $0.12. Shares were down 9% today due to, in our view, a more conservative outlook on its 2024 EPS forecast vs. prior guidance. Q4 revenues were up 11% Y/Y, driven by its int’l segment (+25%), while capacity grew 15% Y/Y. DAL announced its 2024 guidance, with expected earnings of $6-$7/share (vs. the prior outlook of $7/share) and fuel costs in the range of $2.70/g (vs. $2.82/g in 2023).

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Citigroup Inc. (C) Q4 2023 Earnings Call Transcript Summary

/ / Financials /

The following is a summary of the Citigroup Inc. (C) Q4 2023 Earnings Call Transcript: Financial Performance: Negative EPS of $1.16 in Q4, primarily due to reserve build related to transfers and devaluation of the Argentine currency. Revenues fell short of expectations, failing to reach the $78 billion mark due to the same Argentine devaluation. Despite setbacks, CET1 ratio increased to 13.3%, tangible book value per share grew by 6% to $86.19 and $6 billion capital was returned to shareholders via dividends and buybacks. Q4 reported a net loss of $1.8 billion with a net loss per share of $1.16 on $17.4 billion of revenue. Full year revenue was at $77.1 billion and net income at about $13.1 billion yielding an RoTCE of 7.3%. Citigroup plans to reduce expenses to $51-$53 billion, leading to net run rate savings of $2-$2.5 billion in the medium term. Business Progress: Restructuring included cutting

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