CFRA Adds Eaton Corporation To The High-quality Capital Appreciation Portfolio

/ / Industrials /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We are adding Eaton Corporation (ETN) to the portfolio as we believe the company is well positioned to benefit from new investments being made into the construction of reshored manufacturing facilities, including semiconductor plants and electric vehicle factories. Reshoring of manufacturing will meaningfully drive demand within ETN’s Electrical business given the essential need for new energy management systems, power distribution equipment, and related software. In addition, ETN’s backlog is at record levels on solid demand trends, providing a degree of cushion amid macro uncertainty. ETN will replace Tetra Tech, Inc. (TTEK 152 NR), which we recently dropped coverage on.

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McDonald’s and Chipotle Set to Continue Dominance Amid Consumer-spending Worries, Research Shows

/ / Consumer Discretionary /

‘Both Chipotle and McDonald’s are well-positioned to continue their winning streak,’ according to Placer.ai McDonald’s Corp. and Chipotle Mexican Grill Inc. are outperforming the broader dining sector, according to foot-traffic data from analytics company Placer.ai, despite concerns about consumer spending. “While year-over-year foot traffic trends indicate that neither chain is immune from the ongoing economic headwinds — both Chipotle and McDonald’s are well-positioned to continue their winning streak,” Bracha Arnold of Placer.ai wrote in a blog post. “McDonald’s and Chipotle have both focused on innovation and menu enhancements in recent years, positioning themselves well to address industry challenges.”

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Nvidia Plans to Make Arm-based Computer Chips

/ / Technology /

Nvidia (NVDA) is designing CPUs that will be able to run Microsoft’s (MSFT) operating system and use technology from Arm, Reuters reported Monday, quoting unnamed sources with knowledge of the situation. The move is part of Microsoft’s plan to help chipmakers build Arm-based processors for computers with Windows, the report said. Advanced Micro Devices (AMD) is also planning to make chips for computers with Arm technology, Reuters reported, adding that Nvidia and AMD may sell the chips as soon as 2025. Reuters said that spokespeople for Nvidia, AMD, Arm and Microsoft declined to comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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CFRA Maintains Buy Recommendation On Shares Of Nvidia Corp.

/ / Technology /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: According to Reuters, NVDA intends to begin designing CPUs for PCs on ARM-based architecture as early as CY 2025 (AMD also plans to do the same). We would note the market is currently dominated by INTC and AMD’s x86 chips, while QCOM has been developing ARM-based CPUs for years now. Windows has lost considerable share since Apple’s decision to start designing ARM-based CPUs for Macs, and Microsoft could be luring others to develop CPUs (exclusive QCOM ARM contract expires in 2025) to reduce its high emphasis on Intel. We think the news is a positive for NVDA as it further expands the company’s addressable market and adds further fuel to its CPU initiatives (recently launched Grace CPU in data centers). We highlight that developing an all-encompassing CPU

CFRA Maintains Buy Recommendation On Shares Of Nvidia Corp. Read Post »

CFRA Maintains Hold Recommendation On Shares Of Intel Corporation

/ / Technology /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: According to a Reuters report, NVIDIA intends to begin designing CPUs for PCs on ARM-based architecture as early as CY 2025 (AMD also plans to do the same). We would note the market is currently dominated by INTC and AMD’s x86 chips while QUALCOMM has been developing ARM-based CPUs for years now. Windows-based PCs have lost considerable share in recent years and Microsoft could be luring others to get into the market (exclusive QUALCOMM ARM-based contract expires in 2025) developing CPUs to reduce its high emphasis on INTC. We believe that INTC is clearly poised to be the biggest loser (best case scenario is no share loss) as the PC space adds more CPU competitors into the market, with INTC generating about half its revenue from the

CFRA Maintains Hold Recommendation On Shares Of Intel Corporation Read Post »

Nucor’s Steel Products Business Showing Weakness

/ / Basic Materials /

Profit from Nucor’s steel products business fell 33% in 3Q from the same period a year earlier, reflecting lower demand for building materials by the construction industry and falling prices for steel. Robust demand for Nucor’s steel floor decking, joints, shelving and overhead doors for warehouses helped the company overcome volatile prices in recent years. The company says “lower realized prices and volumes” pulled down the products business in 3Q and it expects more of the same in 4Q. Nucor’s 3Q EPS of $4.57 exceeded its forecasted earnings range of $4.10 to $4.20. Analysts expected $4.29 a share.

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Amgen Announced New Lumakras Plus Vectibix Data In Patients With KRAS G12c-mutated Metastatic Colorectal Cancer

/ / Health Care /

Amgen (NASDAQ:AMGN) today announced data from the global Phase 3 CodeBreaK 300 trial evaluating two doses of LUMAKRAS (sotorasib) (960 mg or 240 mg) in combination with Vectibix (panitumumab). Both doses demonstrated a statistically significant superiority in progression-free survival (PFS) over the investigator’s choice of therapy in patients with chemorefractory KRAS G12C-mutated metastatic colorectal cancer (mCRC). The results are being presented today at the Presidential Symposium 2 session as a late-breaking oral presentation (LBA10) during the European Society for Medical Oncology (ESMO) 2023 Congress in Madrid, Spain, with simultaneous publication in the New England Journal of Medicine. “The CodeBreaK 300 trial demonstrated the benefit of LUMAKRAS plus Vectibix to deliver statistically significant PFS outcomes for patients compared to the investigator’s choice of therapy, offering new hope to this population with historically poor outcomes,” said David M. Reese, M.D., executive vice president, Research and Development at Amgen.

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Comerica Q3 GAAP EPS $1.84 Vs $2.60 Prior Year, Sales $896.00M Beat $878.71M Estimate

/ / Financials /

Comerica (NYSE:CMA) reported quarterly earnings of $1.84 per share. This is a 29.23 percent decrease over earnings of $2.60 per share from the same period last year. The company reported quarterly sales of $896.00 million which beat the analyst consensus estimate of $878.71 million by 1.97 percent. This is a 9.04 percent decrease over sales of $985.00 million the same period last year.

Comerica Q3 GAAP EPS $1.84 Vs $2.60 Prior Year, Sales $896.00M Beat $878.71M Estimate Read Post »

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