Domino’s Pizza Shares Poised for Further Upside as Growth Accelerates, UBS Says

/ / Consumer Discretionary /

Domino’s Pizza (DPZ) shares are likely to gain further thanks to accelerating growth and solid catalyst path, UBS said in a report Tuesday. “DPZ remains a top pick and we believe further upside exists for one of the few restaurants with accelerating [same store sales] and unit growth, positive traffic, a compelling catalyst path with potential ’25 earnings beats, and opportunity for further multiple expansion,” UBS analysts, including Dennis Geiger, said. Adding to the upbeat outlook, UBS said it expects the partnership with Uber Eats to make deliveries in the US and multiple international markets to help drive sales growth this year. A recent UBS Evidence Lab’s Quick Service Restaurant survey also indicated solidly positive visit intent, outperforming both pizza peers and many large QSR brands on multiple value related attributes, according to the report. “Survey results suggest DPZ is positioned to maintain momentum given solid value scores, promos that […]

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CFRA Reiterates Buy Opinion On Shares Of Morgan Stanley

/ / Financials /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: MS stands to significantly benefit from the early stage recovery in investment banking and asset management. We lift our target $11 to $108 on a forward P/E of 15.2x, above the 13.6x three-year historic average. We raise our ’24 EPS to $7.10 ($6.60) and ’25’s to $7.75 ($7.20). Our investment thesis is underwriting and advisory (M&A) fees could benefit with CEOs renewing capital formation, and ALT firms later this year needing to monetize from $1T+ investment funds to satisfy limited partners. Our revenue forecast is $59.8B in ’24 and $63.0B in ’25. MS posted Q1 EPS of $2.02, a $0.37 earnings beat. In Institutional Securities, MS realized +113% Y/Y growth in equity underwriting and debt underwriting was +37%. While M&A was -28%, we are confident that will

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CFRA Retains Hold Rating On Shares Of Bank Of America Corporation

/ / Financials /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: This was not BAC’s best quarter with flat growth Y/Y in net interest income (NII), total loans, and total deposits, but investment banking and wealth management were better. We raise our target by $3 to 38 on a forward P/E of 11.7x, near the three-year historic average at 11.5x. We lower our ’24 EPS view by $0.05 to $3.25 and keep ’25’s unchanged at $3.40. BAC posted Q1 EPS of $0.76, $0.01 below consensus. Our revenue forecast is $100.5B in ’24 and $103.2B in ’25. In Q1, noninterest expense was 6% Y/Y higher with compensation expense up 3%, despite a 1.7% decline in total net revenue. Consumer revenue was -5% Y/Y with flat credit card income. In Global Banking, investment banking fees were +27% Y/Y, business lending

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Bank of America (BAC) Q1 2024 Earnings Conference

/ / Financials /

The following is a summary of the Bank of America (BAC) Q1 2024 Earnings Call Transcript: Financial Performance: Bank of America reported net income of $6.7 billion and earnings per share of $0.76 for Q1, rising to $7.2 billion and $0.83 after excluding the additional FDIC assessment. Net interest income exceeded guidance at $14.2 billion. Deposits grew by over $20 billion quarter-end. Nearly $1.6 billion was reported in investment banking fees, a 35% increase from Q1 2023. Investment and brokerage services revenue increased 11% to nearly $3.6 billion year-over-year. The bank returned $4.4 billion to shareholders by way of dividends and share repurchases. The bank reported a return on average assets of 83 basis points and a return on tangible common equity of 12.7%. The bank ended the quarter with total assets of $3.27 trillion, up $94 billion from the previous quarter due to increased global market activity. The bank

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UnitedHealth (UNH) Q1 2024 Earnings Conference

/ / Health Care /

The following is a summary of the UnitedHealth Group Incorporated (UNH) Q1 2024 Earnings Call Transcript: Financial Performance: United Health Group reported Q1 2024 revenues of $75.4 billion, indicating an increase of nearly $5 billion. Medical care ratio for the first quarter was 84.3%. Despite the business disruption impacts related to Change Healthcare’s cyber attack which led to an estimated financial hit of $1.15 to $1.35 per share, full-year adjusted earnings per share are expected to be in the range of $27.50 to $28.00. Business Progress: UnitedHealthcare added 2.1 million new consumers in Q1, sustaining robust growth. Revenues for Optum Health and Optum Rx increased by 16% and 12% to $26.7 billion and $30.8 billion respectively, expanding services further and strengthening existing partnerships. UnitedHealth Group is taking measures to recover and mitigate the impacts of the cyber attack, including restoring system functionality and providing financial support to impacted clients. The

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UnitedHealth Group Shares Rise as Q1 Results Top Estimates, 2024 Earnings Outlook Maintained

/ / Health Care /

UnitedHealth Group (UNH) shares rose 5.3% in recent Tuesday trading after Q1 profit and revenue topped estimates by analysts, and the company affirmed its 2024 adjusted earnings outlook despite disruptions from a cyberattack. Earlier Tuesday, the company reported Q1 adjusted earnings of $6.91 a share, up from $6.26 a year earlier. Analysts polled by Capital IQ expected $6.62. Revenue in the quarter ended March 31 rose to $99.8 billion from $91.93 billion a year earlier. Analysts surveyed by Capital IQ expected $99.28 billion. The company said it continues to expect full-year 2024 adjusted EPS of $27.50 to $28. Analysts expect $27.53. UnitedHealth said it booked $872 million in costs in Q1 due to the Change Healthcare cyberattack, which is expected to cost $1.35 billion to $1.6 billion in the year ending Dec. 31. Chief Executive Officer Andrew Philip Witty said on an earnings call that UnitedHealth’s “substantial resources” helped mitigate

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Morgan Stanley (MS) Q1 2024 Earnings Conference

/ / Financials /

The following is a summary of the Morgan Stanley (MS) Q1 2024 Earnings Call Transcript: Financial Performance: In Q1 2024, Morgan Stanley reported revenue of $15 billion, yielding earnings per share of $2.02 with an efficiency ratio of 71%. Wealth Management and Institutional Securities revenues stood at $6.9 billion and $7 billion respectively. Investment banking revenues rose 16% from last year, reaching $1.4 billion for the quarter. Net new asset growth rose by $95 billion. The CET1 ratio decreased by 0.14% from the previous quarter to 15.1%. The company repurchased $1 billion of common stock during Q1. Business Progress: Growth in client assets, totaling $7 trillion, indicates strong momentum across Wealth and Investment Management. The company is increasing its investment in cloud infrastructure to support growth and the development of its AI platform. Strategic hires are being made in M&A and technology is being upgraded to improve client services. A

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United Airlines Announces First-Quarter 2024 Financial Results; Exceeds Revenue and EPS Expectations

/ / Consumer Discretionary /

United Airlines Announces First-Quarter 2024 Financial Results; Exceeds Revenue and EPS Expectations PR Newswire CHICAGO, April 16, 2024 First-quarter diluted loss per share of $0.38; first-quarter adjusted diluted loss per share(1) of $0.15 – ahead of expectations Updates fleet plan – allowing for a more consistent delivery schedule of approximately 100 narrowbody aircraft yearly 2025 through 2027 Achieved second-best first quarter on-time departure performance(2) in the company’s history CHICAGO, April 16, 2024 /PRNewswire/ — United Airlines (UAL) today reported first-quarter 2024 financial results. The company had a pre-tax loss of $164 million, a $92 million improvement over the same quarter last year; adjusted pre-tax loss(1) of $79 million, a $187 million improvement on an adjusted basis over the same quarter last year. These earnings reflect the approximately $200 million impact from the Boeing 737 MAX 9 grounding, without which the company would have reported a quarterly profit. In the quarter,

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United Airlines Holdings Q1 2024 Adj EPS $(0.15) Beats $(0.57) Estimate, Sales $12.539B Beat $12.450B Estimate

/ / Consumer Discretionary /

United Airlines Holdings (NASDAQ:UAL) reported quarterly losses of $(0.15) per share which beat the analyst consensus estimate of $(0.57) by 73.68 percent. The company reported quarterly sales of $12.539 billion which beat the analyst consensus estimate of $12.450 billion by 0.72 percent. This is a 9.71 percent increase over sales of $11.429 billion the same period last year.

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ASML Reports EUR5.3 Billion Total Net Sales and EUR1.2 Billion Net Income in Q1 2024

/ / Technology /

ASML reports EUR5.3 billion total net sales and EUR1.2 billion net income in Q1 2024 2024 outlook unchanged VELDHOVEN, the Netherlands, April 17, 2024 — Today, ASML Holding NV (ASML) has published its 2024 first-quarter results. — Q1 total net sales of EUR5.3 billion, gross margin of 51.0%, net income of EUR1.2 billion — Quarterly net bookings in Q1 of EUR3.6 billion2 of which EUR656 million is EUV — ASML expects Q2 2024 total net sales between EUR5.7 billion and EUR6.2 billion, and a gross margin between 50% and 51% — ASML expects 2024 total net sales to be similar to 2023 (Figures in millions of euros unless otherwise indicated) Q4 2023 Q1 2024 ————————————– ——- ——- Total net sales 7,237 5,290 …of which Installed Base Management sales(1) 1,555 1,324 New lithography systems sold (units) 113 66 Used lithography systems sold (units) 11 4 Net bookings(2) 9,186 3,611 Gross profit

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ASML Holding Q1 EPS $3.38 Misses $3.43 Estimate, Sales $5.75B Miss $6.13B Estimate

/ / Technology /

ASML Holding (NASDAQ:ASML) reported quarterly earnings of $3.38 per share which missed the analyst consensus estimate of $3.43 by 1.55 percent. This is a 36.4 percent decrease over earnings of $5.31 per share from the same period last year. The company reported quarterly sales of $5.75 billion which missed the analyst consensus estimate of $6.13 billion by 6.28 percent. This is a 20.65 percent decrease over sales of $7.24 billion the same period last year.

ASML Holding Q1 EPS $3.38 Misses $3.43 Estimate, Sales $5.75B Miss $6.13B Estimate Read Post »

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