Adobe Fiscal Q1 Non-GAAP Earnings, Revenue Increase;$25 Billion Stock Buyback Authorized — Shares Fall After Hours

/ / Technology /

Adobe Systems (ADBE) late Thursday reported fiscal Q1 non-GAAP net income of $4.48 per diluted share, up from $3.80 a year earlier. Analysts polled by Capital IQ expected $4.38. Revenue for the quarter ended March 1 was $5.18 billion, up from $4.66 billion a year earlier. Analysts expected $5.15 billion. For Q2, the software company is projecting non-GAAP EPS of $4.35 to $4.40 on revenue of $5.25 billion to $5.30 billion. Analysts polled by Capital IQ are looking for $4.37 and $5.31 billion, respectively. Separately, Adobe said it has authorized the repurchase of up to $25 billion of its shares through mid-March 2028. Adobe shares were dropping nearly 10% in extended trading Thursday.

Adobe Fiscal Q1 Non-GAAP Earnings, Revenue Increase;$25 Billion Stock Buyback Authorized — Shares Fall After Hours Read Post »

Nucor Announces Guidance for the First Quarter of 2024 Earnings

/ / Basic Materials /

CHARLOTTE, N.C., March 14, 2024 /PRNewswire/ — Nucor Corporation (NYSE: NUE) today announced guidance for its first quarter ending March 30, 2024. Nucor expects first quarter earnings to be in the range of $3.55 to $3.65 per diluted share. Nucor reported net earnings of $3.16 per diluted share in the fourth quarter of 2023 and $4.45 per diluted share in the first quarter of 2023. The steel mills segment’s earnings are expected to increase in the first quarter of 2024 due to higher average selling prices and volumes, particularly at our sheet mills. Earnings in the steel products segment are expected to decrease in the first quarter of 2024 due to lower average selling prices and decreased volumes. We expect earnings in the raw materials segment in the first quarter of 2024 to be comparable to the fourth quarter of 2023 as improved performance of our DRI facilities is offset by lower margins at our scrap processing operations. Quarter-to-date, Nucor has

Nucor Announces Guidance for the First Quarter of 2024 Earnings Read Post »

Intuitive Da Vinci 5 Robotic Systems Receives FDA Clearance — Shares Rising After Hours

/ / Health Care /

Intuitive (ISRG) late Thursday said its next-generation robotic surgical system given 510(k) clearance by the US Food and Drug Administration for its da Vinci 5 multiport robotic system. The new da Vinci 5 systems includes more than 150 enhancements from its predecessor devices, including improved accuracy and precision, 3D display and image processing and first-of-its-kind “force-sensing” tools. Intuitive is expecting da Vinci 5 will be first available for a handful of US customers who collaborated with the company during its development, providing additional data about the new device ahead of a wider release. Intuitive shares were 3% higher in after-hours activity.

Intuitive Da Vinci 5 Robotic Systems Receives FDA Clearance — Shares Rising After Hours Read Post »

CFRA Keeps Hold Opinion On Shares Of Franklin Resources, Inc.

/ / Financials /

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 12-month target price by $2 to $30, valuing BEN shares at 10.5x our FY26 (Sep.) EPS estimate of $2.87, 11.3x our FY25 EPS estimate of $2.65, and 12x our FY24 EPS estimate of $2.50. This compares to BEN’s 3-year average forward multiple of 9.7x and the broader asset management and private equity peer group average of 16.6x. After a 5% revenue decline in FY23, we look for revenues to be flat to up 5% in FY24 and FY25. However, BEN has been acquisitive in recent years and could alter its top line growth trajectory with a deal. We do not, however, foresee much organic revenue growth, as BEN remains beset with asset outflows, like the $17B in FY 23 and $28.6B in FY22. Weighing

CFRA Keeps Hold Opinion On Shares Of Franklin Resources, Inc. Read Post »

Scroll to Top