Nucor Sees Lower 4Q Pricing, Volumes Across All Three Operating Segments Vs 3Q
Nucor Sees Lower 4Q Pricing, Volumes Across All Three Operating Segments Vs 3Q。
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Steel Maker Nucor Expects Fourth-quarter Profit to Drop From the Previous Quarter on Lower Pricing and Reduced Volumes
Nucor Corp. (NUE) said Thursday it expects to report fourth-quarter earnings ranging from $2.75 a share to $2.85 a share. Analysts are estimating earnings of $3.19 a share, according to FactSet data. Nucor said its earnings will be lower than the third quarter due to price drops and reduced volumes across all three of its operating segments. Nucor said its earnings projection also includes several one-time items. Nucor stock was down by 2.6% in premarket trading on Thursday.
Wells Fargo Analyst Ratings
Wells Fargo Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/14/2023 16.11% Odeon Capital → $56.08 Upgrades Hold → Buy 12/08/2023 -2.69% Piper Sandler $45 → $47 Maintains Neutral 12/06/2023 13.87% Raymond James $52 → $55 Maintains Strong Buy 12/04/2023 11.8% Morgan Stanley $52 → $54 Maintains Overweight 12/01/2023 3.52% Goldman Sachs $45 → $50 Maintains Buy 10/16/2023 11.8% BMO Capital $52 → $54 Maintains Market Perform 09/22/2023 -8.9% Deutsche Bank $44 → $44 Reiterates Buy → Buy 09/07/2023 -6.83% HSBC → $45 Initiates Coverage On → Hold 08/01/2023 7.66% Morgan Stanley $49 → $52 Maintains Overweight 08/01/2023 8.7% Atlantic Equities $50 → $52.5 Maintains Overweight 07/18/2023 1.45% Morgan Stanley $47 → $49 Maintains Overweight 07/17/2023 -6.83% Piper Sandler $43 → $45 Maintains Neutral 07/17/2023 -9.42% Odeon Capital → $43.75 Downgrades Buy → Hold 07/17/2023 5.59% BMO Capital $54 → $51 Maintains Market
Wells Fargo Analyst Ratings Read Post »
Bank of America Analyst Ratings
Bank of America Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/14/2023 16.59% Odeon Capital → $37.94 Upgrades Hold → Buy 12/01/2023 1.41% Goldman Sachs $30 → $33 Maintains Buy 11/16/2023 56.73% Oppenheimer $49 → $51 Maintains Outperform 11/06/2023 -7.81% Keefe, Bruyette & Woods $29 → $30 Upgrades Underperform → Market Perform 10/18/2023 50.58% Oppenheimer $48 → $49 Maintains Outperform 10/18/2023 22.93% BMO Capital $39 → $40 Maintains Market Perform 10/03/2023 -1.66% Morgan Stanley $34 → $32 Maintains Equal-Weight 09/26/2023 47.51% Oppenheimer $49 → $48 Maintains Outperform 09/15/2023 -15.49% Piper Sandler $28 → $27.5 Maintains Underweight 09/12/2023 7.56% RBC Capital → $35 Reiterates Outperform → Outperform 09/07/2023 7.56% HSBC → $35 Initiates Coverage On → Buy 08/23/2023 22.93% Wells Fargo $43 → $40 Maintains Overweight 08/18/2023 50.58% Oppenheimer $52 → $49 Maintains Outperform 07/19/2023 4.49% Morgan Stanley $33 → $34 Maintains Equal-Weight 07/19/2023
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Adobe Inc. (ADBE) Q4 2023 Earnings Call Transcript Summary
The following is a summary of the Adobe Inc. (ADBE) Q4 2023 Earnings Call Transcript: Financial Performance: Adobe reported a record Q4 revenue of $5.05 billion, marking a 13% YoY growth and an annual revenue of $19.41 billion with a similar growth rate. GAAP-diluted earnings per share were $3.23, growing 28% year-over-year, and non-GAAP diluted earnings per share reached a record $4.27, growing 19% year-over-year. Adobe reported net new Digital Media ARR of $569 million, and Creative Cloud contributed $3 billion in revenue, growing 14% YoY. The document Cloud revenue was $721 million, growing 17%. The effective tax rate in Q4 was around 18% on both GAAP and non-GAAP basis. Business Progress: Adobe made significant strides in Creative and Document segments, with Creative Cloud remaining the platform of choice for content creators. The AI model, Firefly, drove significant customer engagement across Creative Cloud, with over 4.5 billion generations since launch.
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CFRA Reiterates Buy Rating On Shares Of Adobe, Inc.
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We increase our 12-month target to $700 from $620, on P/E of about 33x our CY 25 EPS estimate, above peers but below historical averages. We tweak our FY 24 (Nov.) EPS estimate to $18.00 from $17.97 and keep FY 25 at $20.74. ADBE posts Nov-Q EPS of $4.27 vs. $3.60, beating the $4.14 consensus. Sales rose 13%, slightly above forecast, led by greater momentum across Creative Cloud (+12%), Document Cloud (+16%) and Experience Cloud (+10%). We are encouraged by a growing interest/pipeline for ADBE’s GenStudio while subscription demand across all segments remains strong. Despite FY 24 revenue guide slightly below guidance (EPS in-line), we think ADBE is being conservative and remain optimistic about its GenAI roadmap, with Firefly attracting interest across platforms (e.g., Photoshop and Illustrator)
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Adobe Fiscal Q4 Non-GAAP EPS, Revenue Increase; Issues Q1 Outlook
Adobe (ADBE) reported fiscal Q4 non-GAAP earnings late Wednesday of $4.27 per diluted share, up from $3.60 a year earlier. Analysts polled by Capital IQ expected $4.14. Revenue for the quarter ended Dec. 1 was $5.05 billion, up from $4.53 billion a year earlier. Analysts surveyed by Capital IQ expected $5.02 billion. The company said it expects Q1 non-GAAP EPS between $4.35 and $4.40 and revenue between $5.10 billion and $5.15 billion. Analysts surveyed by Capital IQ expect $4.26 and $5.15 billion, respectively. Adobe expects fiscal 2024 non-GAAP EPS between $17.60 and $18.00 and revenue between $21.30 billion and $21.50 billion. Analysts surveyed by Capital IQ expect $17.98 and $21.73 billion, respectively.
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Goldman Sachs Raises Adobe Systems Price Target to $640 From $625
Goldman Sachs Raises Adobe Systems Price Target to $640 From $625, Maintains Buy Rating。
Goldman Sachs Raises Adobe Systems Price Target to $640 From $625 Read Post »
Southwest Airlines Says Travel Demand Remains Healthy as It Lifts Its Q4 Available Seat Miles View
Southwest Airlines Co. (LUV) on Wednesday said it now expects fourth-quarter available seat miles to increase by about 21%, compared to its earlier view of no change. Its outlook for fourth-quarter revenue seat miles improved to a drop of up to 10% from its earlier view of down as much as 11%, as “travel demand and yields continue to be healthy.” The carrier said leisure demand “remains strong” on the heels of Thanksgiving holiday revenue. “Close-in bookings, including managed business bookings, have performed at the better end of expectations in November and December-to-date,” Southwest said. Southwest said it now expects fourth-quarter unit revenue to improve to the better end of its previous guidance range, and it continues to expect record fourth-quarter operating revenues and record fourth-quarter passengers. On the minus side, economic fuel costs per gallon for the fourth quarter are expected to be $3 to $3.10, up from its
CFRA Maintains Buy Opinion On Shares Of Broadcom Inc.
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our 12-month target at $1,100 on a P/E of 18.9x our CY 25 EPS view, above historical given increasing recurring software revenue post-VMware (40% sales software) and margin upside. We maintain our FY 24 (Oct.) EPS at $49.16 and FY 25 at $56.90. AVGO posts Oct-Q EPS of $11.06 vs. $10.45, beating the $10.96 consensus. Sales rose 4%, near expectations, with infrastructure software +7% and semiconductor solutions +3%. On the semiconductor side, we see growth being driven by networking (42% of semi sales and up 23% in Oct-Q; seen +30% in FY 24) given robust demand for custom AI accelerators as well as for switches/routers (AI to comprise over 25% of semi sales in FY 24, up from 15% in FY 23). We see significant
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Pfizer Says Seagen Deal to Close Thursday; Commercial Operations to Be Restructured
Pfizer (PFE) said Tuesday it expects to close its planned acquisition of Seagen (SGEN) on Thursday as it has received all required regulatory approvals. The company said it plans to donate the royalty rights from US sales of Bavencio to the American Association for Cancer Research in a bid to address antitrust concerns raised by the US Federal Trade Commission. The pharmaceutical company said it will adapt its commercial organization to integrate Seagen, effective Jan. 1. This involves forming the Pfizer Oncology Division, which will integrate certain oncology commercial and R&D functions from both companies and be led by Chris Boshoff as chief oncology officer. Pfizer said it will split its non-oncology commercial operations into two divisions: Pfizer US Commercial, led by Aamir Malik as chief US commercial officer, and Pfizer International Commercial, headed by Alexandre de Germay as chief international commercial officer. Germay most recently served as CEO of
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Boeing Receives Order for 40 737-8 Jets From Ireland-based Lessor Avolon
The Boeing Co. (BA) said Tuesday it has received an order from Ireland-based lessor Avolon for 40 737-8 jets as it moves to expands its fleet to more than 110 jets. Avolon already order 40 737-8s in June. Avolon’s fleet is composed of 727-8 and 737-10 planes. Boeing’s stock was up 0.5% premarket and has gained 30% in the year to date, while the S&P 500 has gained 20%.
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