PROFIT FORECAST
Wall St Week Ahead: Earnings season to test hopes for broader stocks rally
The S&P 500 has rallied 16% so far in 2024, driven by a handful of massive stocks poised to benefit from emerging artificial intelligence technology. Only 24% of stocks in the S&P 500 outperformed the index in the first half, the third-narrowest six-month period since 1986, according to BofA Global Research strategists.
Samsung Electronics forecasts major Q2 profit jump
Samsung Electronics said Friday it expects second-quarter operating profits to rise more than 15-fold on-year as chip prices bounce back and demand for generative AI continues to grow. The world's largest memory chip maker said in a regulatory filing that its April-June operating profits were expected to rise to 10.4 trillion won ($7.54 billion), up 1,452.2 percent from 670 billion won a year earlier.
FedEx climbs on cheery annual profit forecast, freight business review
FedEx shares jumped 13% premarket on Wednesday after the delivery giant reassured investors with a largely upbeat annual profit forecast and said it would weigh options for its less-than-truckload business that one analyst valued at $30 billion.
FedEx eyes fiscal 2025 profit just above Wall St target, shares soar
FedEx anticipates strong profits in fiscal 2025, considering strategic actions like potential freight business sale and ending the unprofitable postal service contract. Despite market challenges, FedEx's revenue grew amidst cost-cutting measures and operational consolidation, reflecting the company's resilience and focus on long-term sustainability.
Muthoot Microfin to stay on the radar with a few tailwinds
A part of Muthoot Pappachan Group, the company provides micro loans to women with a focus on rural areas. It had 1,508 branches in 353 districts across 18 states of India as of March 2024. Its AUM grew by 32.4% year-on-year to ₹12,193.5 crore in FY24.
MapMyIndia shares rally 37% in 2 days. Here's why Goldman recommended this stock
CE Info Systems shares surged 37% on BSE in response to a 'buy' rating from Goldman Sachs, targeting Rs 2,800.
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Goldman Sachs boosts S&P 500 target on upbeat profit outlook
Goldman Sachs Group Inc. raises S&P 500 year-end target to 5,600, reflecting optimism for earnings growth and the US economy.
Broadcom soars as demand for AI chips powers forecast raise
Broadcom surged about 15% on Thursday as its upbeat annual forecast highlighted insatiable demand for chips used in powering AI-focused technology, while its announcement of a stock split added to the euphoria.
Big tech is driving the S&P rally. The rest have to step up soon
Tech stocks face diverging performances as Nvidia leads the pack, while Apple struggles, causing a profit cool down and an emerging asymmetry among Big Tech stocks, affecting the overall earnings potential in 2024.
Hewlett Packard surges over 12% as AI-server demand powers strong results
Analysts at Bernstein said this suggests potential for HPE and peer Dell Technologies to have "very strong shipments over the next quarter or two as they deliver on backlog", but it depends upon customers being willing to take deliveries earlier.
European shares slip as energy counters weigh
European shares slipped on Tuesday as weakness in crude prices dragged energy stocks, while investors refrained from placing huge bets before the European Central Bank's interest rate decision later this week.
Sinking profits bring reality check to AI-driven rally in emerging market stocks
Unilever Plc’s Indian unit reported a 5.5% drop in net income for the first quarter, missing analyst estimates. Behind the decline was sluggish rural demand combined with high net-worth urban consumers pivoting to other brands. Similar trends can be seen elsewhere, with Chilean retailer Cencosud SA, restaurant chain operator Yum China Holdings Inc. and Swiss-South African jeweler Compagnie Financiere Richemont SA all delivering weaker-than-expected results.
Salesforce plummets 18% as weak forecast sparks concerns of AI competition
Salesforce shares slumped about 18% on Thursday, after its lowest-ever quarterly revenue growth forecast raised fears that high interest rates and rival AI offerings were hampering demand at the cloud-based software firm.
Wall Street ends lower amid rate concerns, higher bond yields
Stocks declined following the Beige Book release, showing U.S. economic expansion and reduced rate cut expectations, per CME FedWatch Tool.
Divi’s Laboratories shares rally 5% post Q4 results. Should you buy, sell or hold?
Divi’s Laboratories saw a 5% surge in its shares on the BSE during Monday's trading session, reaching a new 52-week high of Rs 4,335. This rise came as brokerages such as Motilal Oswal and InCred expressed bullish sentiment towards the stock, following the company's impressive performance in Q4, where it reported a 68% year-on-year increase in profits, reaching Rs 538 crore.
European shares rise as chipmakers bounce on Nvidia forecast
European stocks edged higher on Thursday after strong forecasts from AI darling Nvidia lifted global chipmakers, while investors awaited the latest business surveys to gauge the euro zone economy's outlook and interest rate path.
Target issues weak forecast as shoppers pull back; shares tumble 10%
Target on Wednesday said it expects consumer caution to persist after it reported quarterly earnings that missed Wall Street estimates and issued a forecast for the current quarter that was also largely below expectations.
Walmart lifts full-year sales and profit forecast, shares soar 7% to hit record high
Walmart raised its full-year forecast and reported better-than-expected first-quarter results on Thursday, betting that easing inflation will drive stronger sales of groceries and non-essential merchandise like clothing and electronics, sending its shares to a record high.
Walmart lifts full-year sales and profit forecast, shares rally
The company now expects adjusted core profit between $250 million and $270 million, compared to its earlier forecast of $180 million to $200 million.
HAL shares jump over 3% after UBS raises target price to Rs 5,200
Hindustan Aeronautics (HAL) saw a significant increase of 3.6% in its shares on Tuesday, reaching an all-time high of Rs 4,064 on the Bombay Stock Exchange (BSE). This surge followed UBS, a global brokerage firm, raising its 12-month target price for HAL to Rs 5,200.
Airbnb slumps over 6% as gloomy Q2 forecast fans slowdown fears
Airbnb shares tumbled more than 6% in early trading on Thursday after weak forecasts for the second quarter stoked investor fears about slowing growth at the vacation rental firm and took the shine off a strong quarterly profit beat.
India's L&T forecasts lower revenue growth, order inflow for FY25
L&T reported a consolidated net profit of 43.96 billion rupees ($526.5 million) for the January-March quarter, up 10% from last year and beating analysts' estimate of 41.13 billion rupees, as per LSEG data. Its revenue from operations rose 15% to 670.79 billion rupees in the March quarter, ahead of analysts' expectations of 663.36 billion rupees, with international revenue contributing 45% of the total.
Arm's annual revenue forecast fails to impress investors; shares tumble
For the current fiscal first quarter, Arm forecast revenue in a range between $875 million and $925 million, with a midpoint of $900 million, compared with an average analyst estimate of $857.5 million, according to LSEG data.
Airbnb shares slide on lower revenue forecast despite a doubling of net income
Earnings growth was partly driven by a shift in the Easter holiday, which came during the first quarter this year versus the second quarter in 2023. Easter is a significant travel holiday.
Uber shares tumble 9% on surprise net loss, weak second-quarter forecast
The report suggests that Uber's growth could be slowing after a strong 2023 in which it dominated the U.S. ride-share market and delivery business and posted its first annual profit.
Uber forecasts gross bookings for second quarter below expectations
Uber projects lower second-quarter gross bookings due to ride-share and food delivery challenges, exceeding core profit expectations. Lyft excels in industry-wide growth and logistics services, while Uber offers a wider range of services globally.
Reddit's strong forecasts spark share surge after first results since IPO
The earnings report - the first since Reddit went public in March - also included a revenue forecast for the current quarter that was above Wall Street estimates, as more people flock to the social media platform behind 2021's meme-stock frenzy.
DBS sees net profit rising this year after Q1 beats forecasts
"While geopolitical tensions persist, macroeconomic conditions remain resilient and our franchise is well positioned to capture business opportunities," DBS Chief Executive Officer Piyush Gupta said in a statement.
Hyundai Motor Q1 Results: Profit drops 2.4%, beats forecasts
The world's No.3 automaker by sales along with affiliate Kia Corp reported net profit of 3.2 trillion won ($2.32 billion) for the January-March period, down from 3.3 trillion won a year earlier.
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