A couple of analysts raise expectations for Amazon days before earnings

Two Wall Street analysts are betting big on Amazon’s quarterly report later this week by hiking their price targets on the e-commerce giant. Deutsche Bank analyst Lloyd Walmsley raised his 12-month price target on Amazon to $2,515 per share from $2,315. Walmsley’s new price target implies a 28% upside for Amazon and is one of the five highest among analysts, according to FactSet. KeyBanc Capital Markets analyst Edward Yruma raised his price target to $2,200 per share from $2,100, implying an ups


Two Wall Street analysts are betting big on Amazon’s quarterly report later this week by hiking their price targets on the e-commerce giant. Deutsche Bank analyst Lloyd Walmsley raised his 12-month price target on Amazon to $2,515 per share from $2,315. Walmsley’s new price target implies a 28% upside for Amazon and is one of the five highest among analysts, according to FactSet. KeyBanc Capital Markets analyst Edward Yruma raised his price target to $2,200 per share from $2,100, implying an ups
A couple of analysts raise expectations for Amazon days before earnings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: fred imbert
Keywords: news, cnbc, companies, couple, amazon, walmsley, days, report, upside, price, expectations, raise, share, yruma, raised, analysts, earnings, quarterly, target


A couple of analysts raise expectations for Amazon days before earnings

Jeff Bezos, founder of Amazon and Blue Origin speaks during the JFK Space Summit, celebrating the 50th anniversary of the moon landing, at the John F. Kennedy Library in Boston, June 19, 2019.

Two Wall Street analysts are betting big on Amazon’s quarterly report later this week by hiking their price targets on the e-commerce giant.

Deutsche Bank analyst Lloyd Walmsley raised his 12-month price target on Amazon to $2,515 per share from $2,315. Walmsley’s new price target implies a 28% upside for Amazon and is one of the five highest among analysts, according to FactSet. KeyBanc Capital Markets analyst Edward Yruma raised his price target to $2,200 per share from $2,100, implying an upside of nearly 7% from Friday’s close.

Shares of Amazon, which reports after the bell on Thursday, closed at $1,964.52 per share on Friday. The stock was largely unchanged Monday morning.

Walmsley and Yruma think Amazon’s quarterly results will be so good that they don’t want to wait until the official report Thursday before setting more bullish targets.

“We see Amazon in a sweet spot of slightly accelerating revenue and KPIs (key performance indicators) with continued (albeit moderate) margin expansion as the company benefits from continued efficiency improvements,” Walmsley said in a note Sunday.


Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: fred imbert
Keywords: news, cnbc, companies, couple, amazon, walmsley, days, report, upside, price, expectations, raise, share, yruma, raised, analysts, earnings, quarterly, target


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Stocks making the biggest moves after hours: TD Ameritrade, Whirlpool, Acadia Pharmaceuticals and more

The financial services company reported third-quarter results that beat estimates and announced its CEO Tim Hockey will leave the company in 2020. The company reported adjusted earnings per share of $1.04 on revenue of $1.49 billion. Analysts polled by Refinitiv had expected earnings per share of 97 cents on revenue of $1.47 billion. Shares of Acadia Pharmaceuticals dropped more than 13% after the company announced that one of its medicines for patients with schizophrenia failed in a late-stage


The financial services company reported third-quarter results that beat estimates and announced its CEO Tim Hockey will leave the company in 2020. The company reported adjusted earnings per share of $1.04 on revenue of $1.49 billion. Analysts polled by Refinitiv had expected earnings per share of 97 cents on revenue of $1.47 billion. Shares of Acadia Pharmaceuticals dropped more than 13% after the company announced that one of its medicines for patients with schizophrenia failed in a late-stage
Stocks making the biggest moves after hours: TD Ameritrade, Whirlpool, Acadia Pharmaceuticals and more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: mallika mitra, kate rooney
Keywords: news, cnbc, companies, stocks, acadia, reported, revenue, td, apple, company, hours, ameritrade, pharmaceuticals, whirlpool, making, share, moves, biggest, earnings, cents, announced, billion, analysts


Stocks making the biggest moves after hours: TD Ameritrade, Whirlpool, Acadia Pharmaceuticals and more

Check out the companies making headlines after the bell:

TD Ameritrade gained nearly 2% in after-hours trading before losing those gains and falling a fraction of 1%. The financial services company reported third-quarter results that beat estimates and announced its CEO Tim Hockey will leave the company in 2020. The company reported adjusted earnings per share of $1.04 on revenue of $1.49 billion. Analysts polled by Refinitiv had expected earnings per share of 97 cents on revenue of $1.47 billion.

Whirlpool rose 4.8% — then reversed those gains, falling more than 1% — following the release of the home appliance manufacturer’s second-quarter earnings. The company reported adjusted earnings of $4.01 per share on revenue of $5.19 billion, topping analysts’ expectations of earnings per share of $3.71 on revenue of $5.03 billion, according to Refinitiv. Whirlpool also raised its 2019 guidance and now expects ongoing diluted earnings per share of $14.75 to $15.50, versus the $14.81 estimated. The company also announced Monday morning it would be recalling tumble dryers in the United Kingdom due to safety concerns.

Shares of Acadia Pharmaceuticals dropped more than 13% after the company announced that one of its medicines for patients with schizophrenia failed in a late-stage clinical trial.

Cadence Design Systems fell 3.5% despite reporting second-quarter earnings that beat estimates. The design software and systems maker reported adjusted earnings per share of 57 cents on revenue of $580 million. Analysts had expected earnings per share of 53 cents on revenue of $580 million.

Intel and Apple ticked up 1.6% and 0.2%, respectively, after the Wall Street Journal reported that Apple is in advanced talks to acquire Intel’s smartphone-modem chip business. The two companies discussed the acquisition in April, but stopped when Apple said it would buy Qualcomm’s modem chips. The Journal said Monday the deal could be worth as much as $1 billion and could be reached as early as next week. Qualcomm fell 2.4% on the report.


Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: mallika mitra, kate rooney
Keywords: news, cnbc, companies, stocks, acadia, reported, revenue, td, apple, company, hours, ameritrade, pharmaceuticals, whirlpool, making, share, moves, biggest, earnings, cents, announced, billion, analysts


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Stocks making the biggest moves in the premarket: Microsoft, Chewy, Boeing, AMC & more

Microsoft — Microsoft shares climbed 3% after the tech giant posted quarterly numbers that topped analysts’ expectations. The company reported earnings per share of $1.37 on revenue of $33.72 billion. BlackRock posted earnings per share of $6.41 on revenue of $3.524 billion. The charge comes out to $8.74 per share and wipes out a Refinitiv earnings estimate of $1.80 per share. CrowdStrike reported sales of $96.1 million, topping a Refinitiv estimate of $95.6 million.


Microsoft — Microsoft shares climbed 3% after the tech giant posted quarterly numbers that topped analysts’ expectations. The company reported earnings per share of $1.37 on revenue of $33.72 billion. BlackRock posted earnings per share of $6.41 on revenue of $3.524 billion. The charge comes out to $8.74 per share and wipes out a Refinitiv earnings estimate of $1.80 per share. CrowdStrike reported sales of $96.1 million, topping a Refinitiv estimate of $95.6 million.
Stocks making the biggest moves in the premarket: Microsoft, Chewy, Boeing, AMC & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: fred imbert
Keywords: news, cnbc, companies, premarket, stocks, boeing, share, biggest, reported, refinitiv, analysts, billion, revenue, posted, earnings, microsoft, amc, sales, making, company, moves, chewy


Stocks making the biggest moves in the premarket: Microsoft, Chewy, Boeing, AMC & more

Traders work on the floor of the New York Stock Exchange.

Check out the companies making headlines in the premarket Friday:

American Express — American Express posted better-than-expected results for the previous quarter, driven by higher card member spending, and increasing loans and fees. The company also reaffirmed its 2019 outlook.

Microsoft — Microsoft shares climbed 3% after the tech giant posted quarterly numbers that topped analysts’ expectations. The company reported earnings per share of $1.37 on revenue of $33.72 billion. Wall Street analysts expected a profit of $1.21 per share on sales of $32.77 billion. CFO Amy Hood said Microsoft’s commercial cloud revenue surged 39% in the quarter.

Chewy — The online pet food retailer climbed more than 2% after reporting its quarterly sales surged 45% on a year-over-year basis.

BlackRock — The largest asset manager in the world posted second-quarter results that missed analysts’ expectations. BlackRock posted earnings per share of $6.41 on revenue of $3.524 billion. Analysts polled by Refinitiv expected a profit of $6.50 per share on sales of $3.566 billion. The company’s misses were driven by higher costs and lower revenue from investment advisory and securities lending.

Boeing — The aerospace giant said it will take a $4.9 billion charged in the second quarter, citing global groundings of its 737 Max planes. The charge comes out to $8.74 per share and wipes out a Refinitiv earnings estimate of $1.80 per share.

Gannett — The Wall Street Journal reported that Gannett and GateHouse Media, another newspaper publishing company, were in “advanced ” merger talks.

Occidental Petroleum — A regulatory filing showed activist Carl Icahn has launched a proxy fight against Occidental to win four seats on the company’s board. Icahn blasted the company for not giving shareholders a say in its proposed deal to acquire Anadarko Petroleum for $38 billion.

Amazon — President Donald Trump said Thursday the administration would look closely at Amazon’s contract with the Pentagon. “We’re getting tremendous complaints from other companies,” Trump said.

General Motors — GM unveiled the 2020 Corvette Stingray, a car that produces nearly 500 horsepower and has its engine mounted in the middle of the car, like Ferrari and other supercar makers.

CrowdStrike — Shares of the cybersecurity firm jumped more than 18% after it posted better-than-expected revenue since going public last month. CrowdStrike reported sales of $96.1 million, topping a Refinitiv estimate of $95.6 million. CEO George Kurtz said the company’s revenue grew by 103% on a year-over-year basis.

Zillow — An analyst at KeyBanc initiated Zillow with an “overweight” rating and a price target of $66 per share, implying a 37% upside from Thursday’s close. “Zillow’s traffic should allow it to remain the leading marketplace for connecting home buyers/sellers with agents,” the analyst said in a note.

AMC Entertainment — Credit Suisse initiated coverage of the movie theater chain with an “outperform” rating, noting the stock’s 21.7% sell-off this year is “overdone.” It added that “our bottom-up film forecast suggests industry box office growth for the next three quarters, which we believe should bolster investor sentiment.”

AB Inbev — The world’s largest beer maker agreed to sell its Australian operations to Japan-based Asahi for more than $11 billion in enterprise value. AB Inbev said it would use the bulk the proceeds to pay down debt.

—Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: fred imbert
Keywords: news, cnbc, companies, premarket, stocks, boeing, share, biggest, reported, refinitiv, analysts, billion, revenue, posted, earnings, microsoft, amc, sales, making, company, moves, chewy


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Analysts love these 5 stocks ahead of their earnings reports

With earnings season now in full swing, Wall Street analysts are advising clients there are plenty of buying opportunities. CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are “top picks” heading into their earnings reports. Willis Towers Watson, a risk management and multinational advisory company, was recently upgraded by Wells Fargo analysts to outperform. Willis Towers Watson will report earnings on July 31. Coca-Cola will report its earning


With earnings season now in full swing, Wall Street analysts are advising clients there are plenty of buying opportunities. CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are “top picks” heading into their earnings reports. Willis Towers Watson, a risk management and multinational advisory company, was recently upgraded by Wells Fargo analysts to outperform. Willis Towers Watson will report earnings on July 31. Coca-Cola will report its earning
Analysts love these 5 stocks ahead of their earnings reports Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: michael bloom
Keywords: news, cnbc, companies, reports, remains, company, earnings, love, sales, watson, strong, towers, ahead, analysts, alibaba, stocks


Analysts love these 5 stocks ahead of their earnings reports

A bottle of Diet Coke is pulled for a quality control test at a Coco-Cola bottling plant in Salt Lake City, Utah.

With earnings season now in full swing, Wall Street analysts are advising clients there are plenty of buying opportunities.

So far over 15% of companies in the S&P 500 have reported earnings. According to FactSet, 79% of those companies have posted a better-than-expected profit.

CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are “top picks” heading into their earnings reports.

They include names such as Coca-Cola, Willis Towers Watson, Diamondback Energy, Northrop Grumman, and Alibaba.

Willis Towers Watson, a risk management and multinational advisory company, was recently upgraded by Wells Fargo analysts to outperform.

“Insurance broker stocks tend to outperform during hurricane season,” they said. “Stronger organic revenue is coming against the backdrop that insurance broker stocks tend to outperform during wind season.”

Wells said it liked the company’s “strong price performance” with the stock up 29% year to date.

Willis Towers Watson will report earnings on July 31.

Chinese multinational e-commerce giant Alibaba continues to see robust online sales in China and analysts at Raymond James say that positions the company well when it reports earnings in mid to late August.

“We reiterate our Strong Buy rating on Alibaba shares and $280 price target given our expectation for solid June quarter results given strong China eCommerce sales data and strong 6.18 festival sales,” they said. “Alibaba remains our top large cap pick.”

Shares of the company are up over 3% on the week.

Coca-Cola will report its earnings on Tuesday and remains a “top U.S. staples pick” for analysts at Morgan Stanley.

“Despite an expected muted Q2, KO remains our top US Staples pick, as we believe the market will look past near-term weather-induced weakness and focus on the solid FY and LT topline outlook and an EPS/FCF growth inflection in 2020 and beyond.”

Shares Coke were down 0.67% on the week.

Here’s what analysts are saying about their top picks heading into earnings:


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: michael bloom
Keywords: news, cnbc, companies, reports, remains, company, earnings, love, sales, watson, strong, towers, ahead, analysts, alibaba, stocks


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Morgan Stanley loves these stocks into earnings, while others on Wall Street do not

Morgan Stanley gave clients a bunch of earnings stock picks where the firm’s view differs from the rest of Wall Street. Overall, Morgan Stanley said guidance for the second half of 2019 is too high and it expects companies to temper expectations for the rest of the year. Morgan Stanley said many investors are worried about newly public ride-hailing company Uber’s path to profitability as well as “growth durability.” Morgan Stanley said next week it expects a judge to rule in PG&E’s favor regardi


Morgan Stanley gave clients a bunch of earnings stock picks where the firm’s view differs from the rest of Wall Street. Overall, Morgan Stanley said guidance for the second half of 2019 is too high and it expects companies to temper expectations for the rest of the year. Morgan Stanley said many investors are worried about newly public ride-hailing company Uber’s path to profitability as well as “growth durability.” Morgan Stanley said next week it expects a judge to rule in PG&E’s favor regardi
Morgan Stanley loves these stocks into earnings, while others on Wall Street do not Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, wall, stock, view, reports, street, loves, sees, stanley, growth, analysts, morgan, stocks, company, earnings


Morgan Stanley loves these stocks into earnings, while others on Wall Street do not

Dara Khosrowshahi, chief executive officer of Uber Technologies speaks on a webcast during the company’s initial public offering on the floor of the New York Stock Exchange, May 10, 2019.

Morgan Stanley gave clients a bunch of earnings stock picks where the firm’s view differs from the rest of Wall Street.

The firm highlighted stocks including Uber and American Express, where it sees a chance for a rally within the next two months.

“For each of these stocks, our analyst has a view that diverges from the Street’s, and expects a near-term event to drive the stock as the market’s view moves closer to ours,” Morgan Stanley said in a note to clients Thursday.

Earnings season began this week with 64 S&P 500 companies reporting earnings as of Thursday morning, according to FactSet. Overall, Morgan Stanley said guidance for the second half of 2019 is too high and it expects companies to temper expectations for the rest of the year.

But there are some opportunities. Other stocks the firm is betting on into reports include PG&E and Gilead Sciences.

Morgan Stanley said many investors are worried about newly public ride-hailing company Uber’s path to profitability as well as “growth durability.”

However, “we like this set-up…particularly as we’re entering a 2H of easing Y/Y ride sharing growth compares, an (assumed) relatively stable competitive landscape in the US and abroad, and a still-long runway,” analysts said. Uber’s ability to beat near-term ride sharing bookings is “key to turning investor sentiment and interest,” they said.

Uber reports on August 8.

Morgan Stanley said next week it expects a judge to rule in PG&E’s favor regarding its exclusive right to offer a bankruptcy pre-organization plan, months after the deadly California wildfires. Analysts said the favorable ruling will remove overhang for the stock.

The firm’s analysts are betting that biotech company Gilead Science’s HIV franchise will help drive a beat on second-quarter revenue.

“We are also lower on 1H spending, which in combination with higher revenues would position GILD well for a 2Q19 EPS beat,” the analysts said.

Gilead reports on July 30.

American Express is the only company on the Morgan Stanley’s list in the financial sector. The firm said it sees revenue growth recceleration for the company on the back of a “fading” U.S. dollar strength, strong retail sales growth, “wealth effect on Amex cardmember spending,” and low interest rates.

American Express reports July 19.

On the bearish side, Morgan Stanley see’s near-term downside for industrial supply company W.W. Grainger. Analysts said the company will be forced to lower prices as “underlying demand appears to have decelerated.”

— with reporting from CNBC’s Michael Bloom


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, wall, stock, view, reports, street, loves, sees, stanley, growth, analysts, morgan, stocks, company, earnings


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IQOS boosts Philip Morris International’s quarterly profit, revenue. Stock jumps

PMI posted revenue of $7.7 billion, down 0.3% from the year-earlier quarter yet still better than the $7.37 billion analysts polled by Refinitiv expected. Piper Jaffray analyst Michael Lavery called momentum “broad-based,” pointing to market share gains in Germany, Italy and Spain. Japan, PMI’s most successful iQOS market, also showed improvement. Juul, which sells the market leading e-cigarette in the U.S., has started expanding overseas into markets where PMI sells iQOS. “We are watching close


PMI posted revenue of $7.7 billion, down 0.3% from the year-earlier quarter yet still better than the $7.37 billion analysts polled by Refinitiv expected. Piper Jaffray analyst Michael Lavery called momentum “broad-based,” pointing to market share gains in Germany, Italy and Spain. Japan, PMI’s most successful iQOS market, also showed improvement. Juul, which sells the market leading e-cigarette in the U.S., has started expanding overseas into markets where PMI sells iQOS. “We are watching close
IQOS boosts Philip Morris International’s quarterly profit, revenue. Stock jumps Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: angelica lavito
Keywords: news, cnbc, companies, stock, altria, share, revenue, philip, tobacco, internationals, pmi, iqos, profit, market, jumps, morris, billion, king, analysts, quarter, quarterly, boosts


IQOS boosts Philip Morris International's quarterly profit, revenue. Stock jumps

Philip Morris International beat second-quarter earnings and revenue estimates and hiked its full-year forecast Thursday as its new tobacco products gained momentum, sending shares of the company up more than 9%.

PMI sells Marlboro cigarettes and other brands around the globe. The tobacco giant is trying to pivot away from cigarettes and toward new products, namely iQOS, which heats tobacco instead of burning it. The product drove the company’s performance in the quarter.

Cigarette volume fell 3.6% in the quarter, while volume for heated tobacco spiked6 37% in the quarter. The results — and Wall Street’s reaction — are a stark contrast from a little over a year ago when PMI’s stock had its worst day in a decade after revealing growth had slowed in Japan, a key market for iQOS.

“I think we’ve had a strategy for a number of years for a smoke-free transformation, and we’ve stuck through that strategy this entire time,” Chief Financial Officer Martin King said in a phone interview.

PMI reported second-quarter net income of $2.31 billion, or $1.49 per share, up from the $2.19 billion, or $1.41 the company reported in the year-earlier quarter. With litigation expenses related to Canadian lawsuits, asset impairment and exit costs, among other items, PMI earned $1.46 per share, above the $1.32 per share Wall Street expected.

PMI posted revenue of $7.7 billion, down 0.3% from the year-earlier quarter yet still better than the $7.37 billion analysts polled by Refinitiv expected.

PMI raised its full-year adjusted earnings forecast to $5.14 per share, up from the previously guided $5.09. Analysts were forecasting annual earnings of $5.16 per share.

Revenue for reduced-risk products, which iQOS is categorized in, totaled $1.53 billion in the quarter. Analysts had expected $1.24 billion, according to estimates from StreetAccount.

PMI said Russia was a bright spot for iQOS in the quarter. Reduced-risk product revenue in Eastern Europe, which includes Russia, jumped to $182 million in the quarter from $65 million a year earlier. PMI said it increased spending in the region, primarily in Russia, to bring iQOS to more markets.

Piper Jaffray analyst Michael Lavery called momentum “broad-based,” pointing to market share gains in Germany, Italy and Spain. Japan, PMI’s most successful iQOS market, also showed improvement. IQOS is available in 48 markets.

PMI said it would up its spending on iQOS this year by a third, from $300 million to $400 million.

The U.S. Food and Drug Administration cleared iQOS earlier this year. Altria will license iQOS and sell the device in the U.S., with plans to introduce it in Atlanta this summer. King said PMI has shared lessons it learned in rolling out iQOS across Europe with Altria to help with its introduction to U.S. consumers.

“You have to get that initial understanding and you have to make it easy for people, adult smokers, to try the product and make sure they like it,” King said. “We’ve shared that with Altria. They’re very attentive, very good. Their plan is terrific. We have a great deal of confidence they’ll be successful in the U.S.”

Altria invested $12.8 billion for a stake in e-cigarette giant Juul late last year. Juul, which sells the market leading e-cigarette in the U.S., has started expanding overseas into markets where PMI sells iQOS. King told analysts that PMI is not seeing any impact on overall results, “but it is early days.”

“We are watching closely,” King told analysts, adding that PMI is investing in its own e-cigarettes to compete with Juul.

Philip Morris International and Altria used to be one company. Altria spun off its international business in 2008, forming an independent company that would sell its cigarette brands outside of the U.S.


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: angelica lavito
Keywords: news, cnbc, companies, stock, altria, share, revenue, philip, tobacco, internationals, pmi, iqos, profit, market, jumps, morris, billion, king, analysts, quarter, quarterly, boosts


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Analysts stick by plunging Netflix shares, see comeback this quarter driven by ‘Stranger Things’

Wall Street analysts were urging clients to remain calm in the wake of Netflix’s disappointing earnings report. The company said Wednesday after the bell that it only added 2.7 million global subscribers in the second quarter while Wall Street expected the number to be closer to 5 million. Many analysts are already predicting the streaming giant will bounce back in the third quarter, anchored by its original show, “Stranger Things.” Strong content is still going to be the backbone for Netflix dr


Wall Street analysts were urging clients to remain calm in the wake of Netflix’s disappointing earnings report. The company said Wednesday after the bell that it only added 2.7 million global subscribers in the second quarter while Wall Street expected the number to be closer to 5 million. Many analysts are already predicting the streaming giant will bounce back in the third quarter, anchored by its original show, “Stranger Things.” Strong content is still going to be the backbone for Netflix dr
Analysts stick by plunging Netflix shares, see comeback this quarter driven by ‘Stranger Things’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: michael bloom
Keywords: news, cnbc, companies, shares, quarter, netflix, analysts, comeback, strong, stranger, netflixs, street, subscriber, driven, stick, plunging, slate, wall, things


Analysts stick by plunging Netflix shares, see comeback this quarter driven by 'Stranger Things'

Wall Street analysts were urging clients to remain calm in the wake of Netflix’s disappointing earnings report.

The company said Wednesday after the bell that it only added 2.7 million global subscribers in the second quarter while Wall Street expected the number to be closer to 5 million. It also reported an unexpected loss in U.S. subscribers.

Shares of Netflix were down more than 10% to $323.24 in midmorning trading Thursday.

Many analysts are already predicting the streaming giant will bounce back in the third quarter, anchored by its original show, “Stranger Things.”

“Early 3Q trends are strong, led by Stranger Things S3, & we believe churn rates have receded closer to pre-price increase levels,” J.P. Morgan analyst Doug Anmuth said.

Strong content is still going to be the backbone for Netflix driving subscriber growth going forward, analysts say.

“Conversely, in 2H’19, there should be a positive impact from an improving slate and we are, therefore, optimistic about the company’s opportunity to grow subscriber additions y/y in a FY basis,” said Piper Jaffray’s Michael Olson.

“Some will say this miss suggests maturation or lack of pricing power; we see neither. We would note Netflix misses have been followed by strong qtrs, and, along those lines, we expect Netflix’s very strong 2H slate will lead to a rebound in sub growth,” Credit Suisse analysts said.

In fact, the second quarter has traditionally been rough, according to analysts at Raymond James.

“The reality is 2Q has been a tough quarter for three of the past four years, and it’s likely a combination of factors driving softness,” they said.

“It will likely take strong results over the next two quarters to refute these controversies and drive a more meaningful move higher.”

Here’s what else the major analysts are saying about Netflix’s earnings report:


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: michael bloom
Keywords: news, cnbc, companies, shares, quarter, netflix, analysts, comeback, strong, stranger, netflixs, street, subscriber, driven, stick, plunging, slate, wall, things


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Microsoft beats on earnings, stock ticks up

Microsoft stock rose 2% after the company released better-than-expected quarterly earnings and guidance. It’s the ninth straight quarter of double-digit annualized revenue growth, according to FactSet. Ahead of earnings, analysts at Bank of America Merrill Lynch, KeyBanc Capital Markets and Stifel signaled they were expecting annualized Azure growth to fall to about 68%. Microsoft said it had $11 billion in Commercial Cloud cloud revenue, up 39% on an annualized basis. In the fiscal fourth quart


Microsoft stock rose 2% after the company released better-than-expected quarterly earnings and guidance. It’s the ninth straight quarter of double-digit annualized revenue growth, according to FactSet. Ahead of earnings, analysts at Bank of America Merrill Lynch, KeyBanc Capital Markets and Stifel signaled they were expecting annualized Azure growth to fall to about 68%. Microsoft said it had $11 billion in Commercial Cloud cloud revenue, up 39% on an annualized basis. In the fiscal fourth quart
Microsoft beats on earnings, stock ticks up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: jordan novet
Keywords: news, cnbc, companies, billion, quarter, growth, stock, beats, business, earnings, cloud, ticks, revenue, azure, analysts, company, microsoft


Microsoft beats on earnings, stock ticks up

Microsoft CEO Satya Nadella reacts during a panel session on day three of the World Economic Forum in Davos, Switzerland, on Jan. 24, 2019.

Microsoft stock rose 2% after the company released better-than-expected quarterly earnings and guidance.

Here are the key numbers:

Earnings: $1.37 per share, excluding certain items, vs. $1.21 per share as expected by analysts, according to Refinitiv

$1.37 per share, excluding certain items, vs. $1.21 per share as expected by analysts, according to Refinitiv Revenue: $33.72 billion, vs. $32.77 billion as expected by analysts, according to Refinitiv

On an annualized basis revenue grew 12% in the fourth quarter of Microsoft’s 2019 fiscal year, which ended on June 30, according to a statement. It’s the ninth straight quarter of double-digit annualized revenue growth, according to FactSet.

Microsoft shares have gained 34% this year, pushing the company past a $1 trillion market cap as investors continue to bet on CEO Satya Nadella’s ability to bolster the cloud business and win deals against Amazon.

Microsoft’s Intelligent Cloud business segment, which includes the Azure public cloud, Windows Server, SQL Server, Visual Studio, GitHub and consulting services, produced $11.39 billion in revenue in the quarter. Analysts polled by FactSet had been expecting $11.02 billion in Intelligent Cloud revenue.

Revenue from Azure increased 64% year over year, the lowest growth rate in at least four years. Microsoft doesn’t disclose exact revenue figures for Azure. The company did say it saw a more large and long-term Azure contracts in the quarter, in line with the past few quarters.

Ahead of earnings, analysts at Bank of America Merrill Lynch, KeyBanc Capital Markets and Stifel signaled they were expecting annualized Azure growth to fall to about 68%. The moderating Azure growth is more about the law of large numbers than falling demand, Stifel analysts led by Brad Reback, who rate Microsoft as a buy, wrote in a note distributed to clients on Sunday.

“Our partner conversations this quarter continued to emphasize Azure’s momentum, which are enabling the company to significantly outpace the overall market’s growth as they see Azure contract commitments seeing significant uplift in terms of contract value and duration,” Goldman Sachs analysts led by Heather Bellini, who have a buy rating on Microsoft stock, wrote in a Thursday note.

The More Personal Computing business segment, which comprises Windows, Surface, Xbox and search, ended the quarter with $11.28 billion in revenue. The FactSet analyst consensus for the segment was $10.99 billion.

Microsoft’s Productivity and Businesses segment, containing Office, Dynamics and LinkedIn, came in with $11.05 billion in quarterly revenue, more than the $10.70 billion FactSet consensus estimate.

The Stifel analysts also highlighted quarterly PC shipment data that IDC released last week, which suggested 4.7% year-over-year growth, partly thanks to increased Intel chip supply. “Net/net, we view these better-than-expected results as a modest tailwind for Microsoft’s Windows business for the quarter,” they wrote.

Microsoft said it had $11 billion in Commercial Cloud cloud revenue, up 39% on an annualized basis. The category includes Azure, Office 365 business subscriptions, Dynamics 365 enterprise software and commercial LinkedIn products.

With respect to guidance, Microsoft’s chief financial officer, Amy Hood, said on a conference call with analysts that the company expects to achieve between $31.7 billion and $32.4 billion in revenue across its three business segments in the fiscal first quarter. The midpoint of $32.05 billion is just above the $32.00 billion Refinitiv estimate.

Hood said the company’s cost of goods for the fiscal first quarter would be between $10.55 billion and $10.75 billion, a range that was below the FactSet consensus estimate of $10.95 billion.

In the fiscal fourth quarter Microsoft acquired Express Logic, announced Azure updates and introduced an Xbox console that has no disc drive.

The company had $5.3 billion in capital expenditures in the quarter, more than in any other quarter in the past four years.

This is breaking news. Please check back for updates.

WATCH: AT&T and Microsoft announce strategic alliance worth more than $2 billion


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: jordan novet
Keywords: news, cnbc, companies, billion, quarter, growth, stock, beats, business, earnings, cloud, ticks, revenue, azure, analysts, company, microsoft


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Stocks making the biggest moves after hours: Microsoft, Chewy and more

The technology company reported adjusted earnings per share of $1.37 on revenues of $33.72 billion. Analysts had expected earnings per share of $1.21 on revenues of $32.77 billion, according to Refinitiv. Skechers reported earnings per share of 49 cents on revenues of $1.26 billion. Analysts polled by Refinitiv had expected earnings per share of 34 cents on revenues of $1.22 billion. The company reported revenue earnings of $685 million versus the $751 million estimated by analysts surveyed by R


The technology company reported adjusted earnings per share of $1.37 on revenues of $33.72 billion. Analysts had expected earnings per share of $1.21 on revenues of $32.77 billion, according to Refinitiv. Skechers reported earnings per share of 49 cents on revenues of $1.26 billion. Analysts polled by Refinitiv had expected earnings per share of 34 cents on revenues of $1.22 billion. The company reported revenue earnings of $685 million versus the $751 million estimated by analysts surveyed by R
Stocks making the biggest moves after hours: Microsoft, Chewy and more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: mallika mitra, patti domm
Keywords: news, cnbc, companies, reported, hours, making, billion, cents, earnings, ticked, chewy, stocks, analysts, moves, revenues, company, share, biggest, microsoft, million


Stocks making the biggest moves after hours: Microsoft, Chewy and more

Check out the companies making headlines after the bell:

Microsoft ticked up 1% in after-hours trading after the company’s fourth-quarter earnings beat estimates. The technology company reported adjusted earnings per share of $1.37 on revenues of $33.72 billion. Analysts had expected earnings per share of $1.21 on revenues of $32.77 billion, according to Refinitiv. Microsoft’s Intelligent Cloud business segment produced $11.39 billion in revenue in the quarter — analysts had been expecting the business segment to generate $11.02 billion, according to FactSet.

Skechers climbed 10% after the shoemaker’s second-quarter earnings surpassed Wall Street’s expectations. Skechers reported earnings per share of 49 cents on revenues of $1.26 billion. Analysts polled by Refinitiv had expected earnings per share of 34 cents on revenues of $1.22 billion. The company’s COO David Weinberg said Skechers experienced growth in every region, with the most in India, the Middle East, China and Mexico.

Shares of Chewy ticked up about 1% after the pet food and supplies company released its first earnings report since its IPO. Chewy said it made $1.1 billion in sales in its first quarter, recording a net loss of $29.6 million, which is in line with the guidance it set forth in its prospectus for its IPO earlier this year.

Shares of Gannett climbed 9% after the Wall Street Journal reported the USA Today owner is in advanced talks to merge with GateHouse Media.

Crowdstrike rose 8% following the release of its first earnings since its IPO. The cybersecurity company reported a loss per share of 47 cents in line with the 47 cents estimated, and revenues of $96.1 million versus $95.6 million estimated, according to Refinitiv.

ETrade ticked down after the financial services company’s second-quarter revenue missed estimates. The company reported revenue earnings of $685 million versus the $751 million estimated by analysts surveyed by Refinitiv.


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: mallika mitra, patti domm
Keywords: news, cnbc, companies, reported, hours, making, billion, cents, earnings, ticked, chewy, stocks, analysts, moves, revenues, company, share, biggest, microsoft, million


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Bank of America earnings Q2 2019

Bank of America posted profit that exceeded analysts’ expectations on strength in its sprawling retail bank. Under CEO Brian Moynihan, the bank delivered record first-half profit, fueled by the company’s retail lending operations and Moynihan’s expense initiatives. Still, the stock took a hit in April when Chief Financial Officer Paul Donofrio warned investors that growth of net interest income this year would be half the 6% the bank generated in 2018. So far this year, Bank of America shares ha


Bank of America posted profit that exceeded analysts’ expectations on strength in its sprawling retail bank. Under CEO Brian Moynihan, the bank delivered record first-half profit, fueled by the company’s retail lending operations and Moynihan’s expense initiatives. Still, the stock took a hit in April when Chief Financial Officer Paul Donofrio warned investors that growth of net interest income this year would be half the 6% the bank generated in 2018. So far this year, Bank of America shares ha
Bank of America earnings Q2 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: hugh son
Keywords: news, cnbc, companies, profit, 2019, revenue, earnings, q2, division, bank, america, billion, net, interest, analysts, income, increase


Bank of America earnings Q2 2019

Bank of America posted profit that exceeded analysts’ expectations on strength in its sprawling retail bank.

The lender said Wednesday that it generated $7.3 billion in second-quarter profit, an 8% increase from a year earlier, or 74 cents a share, compared with the 71 cent estimate of analysts surveyed by Refinitiv. It posted revenue of $23.2 billion, a 2.1% increase from a year earlier, matching analysts’ estimate.

Under CEO Brian Moynihan, the bank delivered record first-half profit, fueled by the company’s retail lending operations and Moynihan’s expense initiatives. It was the 18th straight quarter Moynihan and his executives have managed to improve the firm’s operating leverage, meaning it has grown revenue while cutting or holding the line on costs.

Still, the stock took a hit in April when Chief Financial Officer Paul Donofrio warned investors that growth of net interest income this year would be half the 6% the bank generated in 2018. Now, after the Federal Reserve recently signaled that it’s likely to cut its benchmark short-term interest rate later this month, the question is, does that further slow the growth in this main profit engine for banks?

There were some early signs of this. Bank of America’s net interest margin, a key metric of profitability, declined 7 basis points from the first quarter to 2.44%, which is below the 2.47% estimate analysts had for the second quarter.

The bank’s shares dipped 0.4% at 7:09 am in premarket trading. So far this year, Bank of America shares have climbed 18%, but are lower than when the company made its revenue warning in April.

Profit in the firm’s biggest division, its consumer bank, rose 13% to $3.29 billion as revenue climbed 5% to $9.72 billion as the firm added deposits and loans, which led to higher net interest income. That was the strongest showing among the bank’s four main businesses, followed by its wealth management division, where profit rose 11% to $1.07 billion.

Meanwhile, profit fell 7% to $1.07 billion in its global markets division amid a slowdown in trading activity across asset classes. Profit declined 9% to $1.93 billion in its global banking division on a drop in capital markets deals.

Earlier this week, Citigroup, J.P. Morgan Chase, Wells Fargo, and Goldman Sachs all beat analysts’ profit expectations as the firms benefited from one-time gains including a gain on the IPO of electronic market maker Tradeweb.

Here’s what Wall Street expected:

Earnings: 71 cents a share, a 12.3% increase from a year earlier, according to Refinitiv.

Revenue: $23.2 billion, a 2.1% increase from a year earlier.

Net interest margin: 2.47% according to FactSet

Trading Revenue: Fixed income $2.1 billion, Equities $1.22 billion

This is breaking news. Please check back for updates.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: hugh son
Keywords: news, cnbc, companies, profit, 2019, revenue, earnings, q2, division, bank, america, billion, net, interest, analysts, income, increase


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