TD Cowen analyst Bill Kirk initiates coverage on Franklin Resources (NYSE:BEN) with a Market Perform rating and announces Price Target of $32.
TD Cowen announces Franklin Resources (NYSE:BEN) Price Target of $32 Read Post »
ISSAQUAH, Wash., Jan. 04, 2024 (GLOBE NEWSWIRE) — Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $26.15 billion for the retail month of December, the five weeks ended December 31, 2023 an increase of 9.9 percent from $23.80 billion last year. For the seventeen weeks ended December 31, 2023, the Company reported net sales of $82.86 billion, an increase of 5.9 percent from $78.26 billion for the seventeen weeks of fiscal year 2023 ended December 25, 2022. Net sales for the seventeen weeks were negatively impacted by approximately one-half to one percent from the shift of the fiscal calendar, as a result of the fifty-third week in fiscal year 2023. Comparable sales for the periods ended December 31, 2023 were as follows: 5 Weeks 17 Weeks U.S. 7.3% 3.6% Canada 12.8% 8.3% Other International 10.5% 10.9% Total Company 8.5% 5.2% E-commerce 17.7% 10.2% Comparable
Exxon Mobil Expects Change In Gas Prices To Positively Impact Q4 Upstream Results By $400M-$800M, Change In Liquids Prices To Negatively Impact Results By $400M-$800M.
Exxon Mobil Sees Change In Industry Margins To Positively Impact Q4 Specialty Products Earnings By $0.0B – $0.2B Vs Q3.
Costco Wholesale (COST) reported sales Thursday of $26.15 billion in December, up nearly 10% from a year earlier. Total company sales in December rose 8.5%, while e-commerce sales jumped about 18%. For the 17 weeks ended Dec. 31, 2023, Costco reported sales of $82.86 billion, almost 6% from a year earlier.
Costco Wholesale’s December Sales Rise Read Post »
By Ben Glickman Exxon Mobil is expecting up to $2.6 billion in impairments in the fourth quarter for its upstream business, mostly related to idled assets in California. The oil and gas giant said in a regulatory filing Thursday that it was expecting impairments of $2.4 billion to $2.6 billion in its upstream business. Exxon said the impairments primarily reflected the idling of its Upstream Santa Ynez Unit assets and related facilities. Exxon said “continuing challenges in the state regulatory environment have impeded progress in restoring operations.” The company also expects a negative effect on upstream earnings from change in liquids prices of $400 million to $800 million. Changes in gas prices are expected to benefit upstream earnings by $400 million to $800 million. Write to Ben Glickman at ben.glickman@wsj.com
Exxon Mobil Expects Up To $2.6 Billion in 4Q Upstream Impairments Read Post »
Apple, Inc. (NASDAQ:AAPL) shares have already fallen more than 5% in 2024 as the company battles weaker consumer demand and restrictions in the Chinese market, but one analyst believes the company is well-positioned for long-term success. What Happened: Neuberger Berman senior research analyst Daniel Flax appeared on CNBC’s “Squawk Box” on Wednesday to discuss Apple’s future growth, as well as potential upcoming product innovations. The analyst noted that Apple has a history of consistently reinventing its product line and he highlighted the company’s broadening of its revenue channels through wearables and services. When discussing Apple’s services revenue, Flax noted that the App Store continues to be a profitable and innovative platform even though the tech giant has faced regulatory hurdles recently. Apple is also expected to continue to build on its product innovation trend as it explores spatial computing with its new VisionPro hardware, Flax said. On the iPhone front,
Costco’s once-slumping e-commerce channel is now racing ahead. The big-box retailer says e-commerce comparable sales rose about 18% in the five weeks ending Dec. 31, accelerating from a 9.9% increase in the four weeks ended Nov. 26 and a 3.7% rise in the month ended Oct. 23. Costco bucked the trend of declining online sales in its latest quarterly report, helped by shoppers ramping up their purchases of discretionary items from Costco’s website.
Costco’s E-Commerce Sales Are Still Accelerating Read Post »
Costco’s December sales numbers are the first indicator from a company of how holiday sales held up, and the early read is positive. DA Davidson analyst Michael Baker says in a research note that the overall comparative sales acceleration and the ramp up in online sales are both a good sign for general holiday spending. E-commerce sales in particular tend to correlate with discretionary items for Costco, a sign that shoppers were coming out in force to buy gifts in December. He also notes non-food goods, excluding foreign exchange, were up in the high-single digits, their best performance since August.
Costco’s December Sales Seen As Good Sign for Broader Retail Read Post »
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our target price by $11 to $47 on forward P/E of 14.0x our 2024 EPS estimate, a slight discount to JEF’s five-year average (14.8x) as we see a healthy improvement in capital market activity in 2024, although still off record industry activity levels seen in 2021. We lower our 2023 EPS estimate by $0.07 to $1.15, raise 2024’s by $0.07 to $3.38, and start 2025’s at $4.36. While we expect Q4 earnings to remain weak, we forecast improvement across capital market activities in 2024, weighted towards the second half, as interest rates have likely peaked and odds of a soft landing have increased considerably. This should lead to higher CEO confidence, spurring increased M&A, IPO, and debt raising activity for corporations and investors who remained
CFRA Lifts Opinion On Shares Of Jefferies Financial Group Inc. To Buy From Hold Read Post »
By Carleton English Walt Disney is caught in a contentious battle with multiple activist investors. Shareholders should come out ahead no matter who the winner is. Right now, there are no fewer than four activists taking aim at the House of Mouse. That should come as no surprise given that Disney stock has lost more than half its value since hitting a record high in March 2021. It’s not all contentious, though. Just this past week, Disney entered into an information-sharing agreement with one activist, ValueAct Capital, which is also pledging to support Disney’s board slate, while rival investment firm, Blackwells Capital, appears sympathetic to management but is pushing three of its own directors. Trian Fund Management is the most belligerent — it’s seeking two board seats, while lambasting Disney for “continued poor performance” — and has an ally in Ancora Holdings. That’s a lot of drama — even for
Disney Is Beating Back Activist Investors. Its Future Looks Brighter. — Barrons.com Read Post »
ConocoPhillips (NYSE:COP) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/03/2024 10.97% Mizuho $139 → $132 Maintains Neutral 12/29/2023 17.7% Raymond James $146 → $140 Maintains Strong Buy 12/14/2023 16.02% UBS $149 → $138 Maintains Buy 12/08/2023 18.54% JP Morgan $153 → $141 Maintains Neutral 11/14/2023 13.49% RBC Capital $130 → $135 Maintains Outperform 10/18/2023 27.78% Susquehanna $153 → $152 Maintains Positive 10/04/2023 25.26% UBS $147 → $149 Maintains Buy 10/02/2023 20.22% Jefferies $141 → $143 Maintains Buy 10/02/2023 5.09% Morgan Stanley $124 → $125 Maintains Overweight 09/18/2023 34.51% Truist Securities $151 → $160 Maintains Buy 09/18/2023 16.86% Mizuho $135 → $139 Maintains Neutral 09/08/2023 — Erste Group Upgrades Hold → Buy 08/28/2023 18.54% Jefferies $143 → $141 Maintains Buy 08/17/2023 23.58% UBS $127 → $147 Maintains Buy 08/16/2023 13.49% Mizuho $127 → $135 Maintains Neutral 08/14/2023 9.29% RBC Capital → $130
ConocoPhillips (NYSE:COP) stock Analyst Ratings Read Post »