Chevron: Permian Production in H1 Expected to Be Down Less Than 2% From 4Q23
Chevron: Permian Production in H1 Expected to Be Down Less Than 2% From 4Q23
Chevron: Permian Production in H1 Expected to Be Down Less Than 2% From 4Q23 Read Post »
Chevron Corp: Sees 2Q24 Buybacks $2.5 Bln – $3 Bln
Chevron Corp: Sees 2Q24 Buybacks $2.5 Bln – $3 Bln
Chevron Corp: Sees 2Q24 Buybacks $2.5 Bln – $3 Bln Read Post »
Tesla Delivery Results Are Coming. Brace For More Bad News.
Tesla is slated to report second-quarter deliveries in just over a week. Wall Street estimates look too high, creating a risk for its stock. The electric-vehicle maker typically reports global quarterly delivery numbers on the second day of a new quarter. For the second quarter, Wall Street expects just under 450,000 units, according to FactSet — about 4% lower compared with the 466,000 units delivered in the second quarter of 2023. The 450,000 figure, however, looks too high. Recent estimates have been closer to 415,000 units. On Sunday, a Tesla delivery researcher using the pseudonym Troy Teslike published his updated second-quarter estimate. He’s looking for 416,000 cars. To project results Teslike aggregates registration data in the U.S. and sales data from Europe, among other things. His estimates are widely followed on social-media site X and used by many Wall Street analysts when checking their own delivery estimates. The 416,000 figure
Tesla Delivery Results Are Coming. Brace For More Bad News. Read Post »
Tesla Stock Is Falling. The AI Robotaxi Business Won’t Be Easy, Analyst Says.
A Tesla robotaxi business might not be quite as good for the electric-vehicle maker as investors expect, an analyst noted. Thursday, RBC analyst Tom Narayan cut his Tesla stock price target to $227 from $293 while keeping his Buy rating. He’s adjusted his robotaxi math. Tesla stock was down 1.5% in early trading at $1821.2, while the S&P 500 and Nasdaq Composite were both up about 0.3% Tesla hosts a robotaxi event on Aug. 8. Investors expect to see what a Tesla robotaxi will look like. They will also expect to hear what progress Tesla is making with its artificial-intelligence-trained self-driving software. Tesla sells advanced-driver-assistance systems today, but Teslas don’t truly drive themselves. CEO Elon Musk believes that creating a truly self-driving car would represent an incredible financial windfall for the company. If it happens, Tesla could operate an Uber Technologies-like fleet of self-driving cars. It could also offer an
Tesla Stock Is Falling. The AI Robotaxi Business Won’t Be Easy, Analyst Says. Read Post »
Nvidia Is No Cisco, but It Is Getting Expensive — Heard on the Street
Is a great business worth any price? Nvidia investors finally seem to be asking themselves that question. The chip maker powering the artificial-intelligence revolution blew past $3 trillion in market capitalization earlier this month barely three months after passing $2 trillion. It even became the world’s most valuable company earlier this week, briefly surpassing Microsoft and Apple. That seems to have given investors some pause; Nvidia’s share price has slipped nearly 7% since trading resumed after the Juneteenth holiday. Still, with a value of a little over $3.1 trillion as of Friday’s close, Nvidia is hardly cheap. That is merely 2% below that of Apple, a company with more than 2 1/2 times Nvidia’s trailing 12-month free cash flow. The stock is also now at nearly 45 times projected earnings for the next four quarters. That is 11% above its five-year average multiple and about 35% higher than what the
Nvidia Is No Cisco, but It Is Getting Expensive — Heard on the Street Read Post »
Nike Stock Is a Buy. The ‘Last Bad’ Earnings Report Is Coming, Says Analyst. — Barrons.com
Nike’s stock hasn’t been a winning bet for the better part of the past three years. One analyst thinks the company’s losing streak could soon be coming to an end as product innovation ramps up. Oppenheimer analyst Brian Nagel upgraded Nike shares to Outperform from Perform Friday, and lifted his price target to $120 from $110. Nagel also reinstated Nike as a top megacap pick across his coverage. Nike shares are 11% lower this year, and have shed 38% over the past three years. There are a lot of reasons investors have been downbeat on the stock, including slower sales growth in China, a sluggish innovation cycle, rising competition, and cooling consumer spending in the U.S. Those challenges persist for Nike, Nagel acknowledged, but he believes the company’s turnaround efforts will start panning out in the next few quarters. And with shares trading at a roughly 25% discount to their
Boeing Likely to Avoid Criminal Charges Over Settlement Breach
Boeing (BA) is expected to avoid criminal prosecution by the US Department of Justice for breaching a 2021 settlement agreement linked to problems with its 737 Max 8 model, which resulted in two fatal plane crashes in 2018 and 2019, The New York Times reported Friday, citing people familiar with the discussions. The Justice Department plans to offer Boeing a deferred prosecution agreement which will require the installation of a federal monitor to oversee safety improvements, the report said, citing the people. Federal prosecutors said in May that Boeing violated the 2021 deferred prosecution agreement by failing to establish an anti-fraud compliance program, prompting the Justice Department to consider criminal charges but officials have opted for an independent watchdog to expedite safety and quality improvements, according to the report.
Boeing Likely to Avoid Criminal Charges Over Settlement Breach Read Post »
FactSet Research Systems(FDS) Q3 2024 Earnings Conference
The following is a summary of the FactSet Research Systems Inc. (FDS) Q3 2024 Earnings Call Transcript: Financial Performance: FactSet reported organic ASV and professional services growth of 5% for the quarter. Adjusted diluted EPS rose to $4.37. Adjusted operating margin improved to 39.4%. GAAP revenue increased 4% to $553 million. Free cash flow for the quarter was $217 million, an increase of 13% over last year. Business Progress: FactSet continues to make strategic investments in generative AI and cloud-based solutions to strengthen its competitive position and capture new market opportunities. The company saw notable wins in displacing competitors and securing multi-year agreements with major asset managers, showcasing the effectiveness of their tailored solutions. Enhanced offerings in wealth management through partnerships, such as the incorporation of Aidentified’s relationship management data into FactSet’s solutions. Opportunities: FactSet’s commitment to expanding into deep sector and private market data as well as real-time market
FactSet Research Systems(FDS) Q3 2024 Earnings Conference Read Post »
FactSet Research Systems Inc. (FDS) Q3 2024 Earnings Call Transcript
FactSet Research Systems Inc. (NYSE:FDS) Q3 2024 Earnings Conference Call June 21, 2024 11:00 AM ET Company Participants Ali van Nes – Head of Investor Relations Philip Snow – Chief Executive Officer Linda Huber – Chief Financial Officer Helen Shan – Chief Revenue Officer Conference Call Participants Toni Kaplan – Morgan Stanley Alex Kramm – UBS Kelsey Zhu – Autonomous Manav Patnaik – Barclays Faiza Alwy – Deutsche Bank Surinder Thind – Jefferies Ashish Sabadra – RBC George Tong – Goldman Sachs Andrew Nicholas – William Blair Shlomo Rosenbaum – Stifel Craig Huber – Huber Research Partners Russell Quelch – Redburn Heather Balsky – Bank of America Scott Wurtzel – Wolfe Research Operator Good day and thank you for standing by. Welcome to the Third Quarter FactSet Earnings Call. At this time all participants are in listen-only mode. After the speaker’s presentation there will be a question-and-answer session. [Operator Instructions]
FactSet Research Systems Inc. (FDS) Q3 2024 Earnings Call Transcript Read Post »
FactSet Expects FY24 Revenue of $2.18B-$2.19B (Prior $2.20B-$2.21B) Vs $2.20B Est, Adj EPS of $16.00-$16.40 (Prior $15.60-$16.00) Vs $15.98 Est
Fiscal 2024 Expectations (with reference to most recent previous guidance): Organic ASV plus professional services is expected to grow in the range of $85 million to $120 million during fiscal 2024 (reduced from $110 million to $150 million). This represents ASV growth of 4.8% at the midpoint. GAAP revenues are expected to be in the range of $2,180 million to $2,190 million (down from $2,200 million to $2,210 million). GAAP operating margin is expected to be in the range of 33.7% to 34.0% (up from 32.5% to 33.0%). Adjusted operating margin is expected to be in the range of 37.0% to 37.5% (up from 36.3% to 36.7%). FactSet’s annual effective tax rate is expected to be in the range of 16.5% to 17.5% (unchanged). GAAP diluted EPS is expected to be in the range of $14.55 to $14.95 (up from $13.95 to $14.35). Adjusted diluted EPS is expected to be
CFRA Keeps Buy Opinion On Shares Of Factset Research Systems Inc.
We lower our 12-month target price by $15 to $520, 29.2x our FY 25 (Aug.) EPS estimate, higher than the company’s 10-year historical average of 26.8x, given strong growth prospects. We increase our FY 24 adjusted EPS by $0.28 to $16.59 and raise FY 25’s by $0.08 to $17.79. FDS reported May-Q adjusted EPS of $4.37 vs. $3.79 a year ago, $0.47 above consensus on revenue that came in at consensus. Revenue growth (+4% vs. 6% in prior quarter) continued to decelerate as results were once again impacted by consolidation cancellations following UBS’s acquisition of Credit Suisse. Still, despite revenue growth disappointing in recent quarters, we have been encouraged by FDS’s willingness to adapt quickly. FDS has responded with a 10% Y/Y reduction in employee costs and a 14% reduction in real estate. As a result, FDS’s adjusted operating margin expanded a hefty 340 bps to 39.4%. Additionally, encouraging signs
CFRA Keeps Buy Opinion On Shares Of Factset Research Systems Inc. Read Post »
McDonald’s to Overcome Sales Pressures With Strategic Value Focus, UBS Says
McDonald’s (MCD) faces US sales pressures and value perception concerns but is positioned for improvement in H2 and 2025, UBS said in a note Friday. McDonald’s can improve its pressured value perceptions with a renewed value focus, its scale and marketing advantages, strong core value attributes, and a history of solid performance during periods of heavy discounting, UBS said, adding that the company’s competitive advantages in digital, store remodels, marketing, and operations will continue to drive sales. The investment firm said that franchisee discussions and historical value analysis support its view that “multiple value-focused initiatives,” along with marketing and new product rollouts in the coming quarters should lead to a “positive inflection in US sales trends.” UBS lowered its US same-store sales estimates for the next few quarters due to challenges faced by the quick-service restaurant industry and feedback from franchisees but expects trends to improve sequentially through the year,
McDonald’s to Overcome Sales Pressures With Strategic Value Focus, UBS Says Read Post »