Industrial equipment maker Caterpillar got a rating boost from Bernstein analysts. The analysts raised their rating on Caterpillar’s shares to outperform from market perform. Bernstein analyst Chad Dillard has a $240 price target on the stock. According to Dillard, concern about the end of the machinery cycle in 2022 was overdone. The analyst said that expectations for Caterpillar were "low"...
CarMax Inc. shares climbed on Wednesday, after the vehicle-buying website reported third quarter earnings that surpassed analysts’ expectations. CarMax’s earnings for the three months ending in November rose +15% from the year-ago quarter to $1.63 per share, beating the Street forecast by 17 cents. Revenues increased +64.5% year-over-year to $8.5 billion, exceeding analysts' expectations of...
Micron Technology reported earnings that surpassed analysts’ expectations. The chipmaker also posted a strong outlook. For the fiscal first quarter, Micron’s earnings came in at $2.04 a share, compared with 71 cents a share in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, for the quarter were $2.16 a share, compared with 78 cents a...
FactSet Research posted earnings of $3.25 per share for the quarter ended November 2021, surpassing the Zacks Consensus Estimate of $2.99 per share. This is also higher than the year-ago quarter’s $2.88 per share. The financial data company’s revenues of $424.73 million also exceeded the Zacks Consensus Estimate by 1.25%. This was an increase over the year-ago quarter’s $388.21 million. The...
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Accenture posted its fiscal first-quarter earnings and revenue that exceeded analysts’ expectations. The company boosted its full-year fiscal 2022 guidance. The IT services company’s adjusted earnings for the quarter ended Nov. 30 climbed +20% from the year-ago quarter to $2.78, compared to analysts’ estimate of $2.64 a share. Including acquisitions, Accenture revenue increased +27%...
Cerner Corp. shares surged Friday , following a Wall Street Journal report that suggested that that Oracle is planning to acquire the electronic medical records company in a $30 billion deal. If the deal goes through, it would be one of the biggest M&A deals of the year. It would also mark the largest acquisition for Oracle – the deal size is reportedly more than 3 times the size of its $10...
FedEx shares climbed higher Friday, following the package delivery company’s second quarter earnings beat. The company also reaffirmed its 2022 profit forecast. Early Friday trading in FedEx shares also got a boost from the company’s announcement of authorization of a $5 billion share buyback plan, including an accelerated $1.5 billion. For the three months ending in November, FedEx reported...
The National Association of Home Builders/Wells Fargo Housing Market Index of confidence index rose to 84 in December from 83 in November. December marks the highest level of the year, along with February. December marks the fourth consecutive month of increase, on the back of strong consumer demand, tight inventory and increasing home prices. The U.S. inventory of active home listings fell...
Cannabis company HEXO Corp. posted a loss of -$93.3 million or -37 cents in its fiscal first quarter. Losses, adjusted for asset impairment costs and costs related to mergers and acquisitions, were -9 cents per share. The result was better than the -10 cents per share loss expected by analysts surveyed by Zacks Investment Research. The company’s adjusted revenue for the quarter came in at...
Blue Bird’s fiscal fourth quarter earnings fell short of analysts’ expectations by -61.11%. The maker of school buses reported adjusted earnings of $0.07 for the quarter, compared to an estimate of $0.18. Revenue was $192.2 million. Last quarter the company missed on EPS by $0.2, which was followed by a 8.81% drop in the share price the next day. Blue Bird projects full-year revenue in the...
Homebuilding company Lennar’s net earnings for the fourth quarter ended Nov. 30. came in at $3.91 per share, falling short of analysts’ expectations of $4.15 per share, according to Refinitiv data. COVID-19 pandemic-induced supply chain constraints led to higher lumber costs and delayed house deliveries. Total revenue rose to $8.43 billion, beating the Street expectations. Lennar's backlogs...
Pfizer said final analysis of its antiviral Covid-19 pill reveals almost 90% efficacy in preventing hospitalizations and deaths among high-risk patients. In a final study data, Pfizer said its Paxlovid treatment remained 89% effective in preventing hospitalizations in high-risk unvaccinated people when used within three days of the appearance of symptoms. However, a separate study suggested...
Bristol-Myers Squibb increased its quarterly dividend and added $15 billion to its buyback program. The pharmaceutical company’s third quarter earnings came in at $2 per share. It boosted its dividend by 10.2%, to 54 cents per share, while taking its total share buyback program to $15.2 billion. The company now expects its fiscal 2022 dividend to rise to $2.16 per share, which would be the...
Steel Connect, Inc. reported a loss of -$19.5 million in its fiscal first quarter. The supply chain business process management services company incurred a loss of -33 cents per share. The company’s revenue for the quarter came in at $125.4 million. “During the first quarter, we felt the negative effects of reduced volumes in the direct marketing business and the global semiconductor...
Apple shares climbed higher on Monday, moving closer to the $3 trillion level, following share price target boost from JPMorgan. Analysts at JPMorgan raised their share price target on the iPhone maker’s shares to a Wall Street high of $210. According to the bank’s analyst Samik Chatterjee, Apple has been able to “reverse the underperformance" of the stock, and the company, over the first...
Chewy posted a third quarter loss wider than what analysts had expected. The online pet retailer posted a loss of -8 cents a share, vs. analysts’ expectations of -4 cents a share. Net sales rose +24% from the year-ago quarter to $2.21 billion, in line with analyst’s expectations. Active customer count increased +15% year-over-year to 20.4 million. Net sales per active customer increased by a...
Broadcom’s earnings for the quarter surpassed analyst’ expectations. Semiconductor company’s adjusted earnings, which exclude stock-based compensation and other items, came in at $7.81 a share, above the $7.74 a share expected by analysts polled by FactSet. It was also higher than the year-ago quarter’s $6.35 a share. Revenue rose to $7.41 billion (from $6.47 billion in the year-ago quarter),...
Oracle reported fiscal second-quarter earnings that surpassed analysts’ expectations. The cloud tech/software company’s adjusted earnings came in at $1.21 per share, compared to $1.11 per share expected by analysts, according to Refinitiv poll. Revenue rose +6% from the year-ago quarter to $10.36 billion, also exceeding the $10.21 billion expected by analysts, according to Refinitiv. Oracle’s...
Following a three-decade high of 6.2% in October, US annual inflation could rise even further in November. Ahead of the data to come out on Friday, some economists predict that inflation will be 6.8% in November. The prediction comes amid supply chain disruptions and demand following re-opening. "Essentially, the pandemic made it harder for the world to produce stuff and move it around,"...