Newsfeeds Archive - Page 52 of 246

2 minute read

Equifax Beats Q4 Estimates, But Mortgage Headwinds Cloud FY24 Forecast

February 8, 12:03 PM

Equifax reported fourth quarter 2023 revenue of $1.327 billion grew 11%, with 14% non-mortgage local currency revenue growth. 2024 guidance reflects an expectation of an over 16% decline in 2024 U.S. mortgage credit inquiries, compared to down 34% in 2023, with first half mortgage credit inquiries weaker than second half.

EFX

2 minute read

Uncategorized

Why British American Tobacco Shares Are Surging Today

By Lekha Gupta

February 8, 10:40 AM

British American Tobacco (NYSE: BTI) posts resilient FY24 results with a 3.1% organic revenue growth, led by a 21.0% surge in New Categories revenue. Despite a 1.3% revenue dip, strategic pricing and strong performance in Non-Combustibles drive profitability. BTI anticipates low-single-digit organic revenue growth in FY24 amid global tobacco industry volume decline. CEO Tadeu Marroco emphasizes strategic investments to fortify the U.S. business and aims for 3%-5% organic revenue growth by 2026.

BTI

2 minute read

Why Personal Products Major Unilever Shares Are Rising Today

By Lekha Gupta

February 8, 7:28 AM

Unilever's FY24 performance shines with a 7.0% underlying sales growth, buoyed by strategic pricing and volume enhancements. The company's 42.2% gross margin surge underscores its adept cost management and productivity boosts.

1 minute read

Aptiv’s Growth Trajectory Hits Speed Bump: Morgan Stanley Lowers Forecast

By Lekha Gupta

February 7, 3:08 PM

Aptiv shares decline as Morgan Stanley downgrades to Underweight, citing concerns over Q4 FY23 results and a lowered price target of $74. Analyst Adam Jonas warns of EV demand slowdown, impacting Aptiv's growth outlook.

APTV

1 minute read

Brookfield Asset Management Posts Mixed Q4 But Says $107B Dry Powder Promises Busy Dealmaking Year

By Lekha Gupta

February 7, 2:38 PM

Brookfield Asset Management Ltd (NYSE: BAM) reports mixed Q4 results, with revenue surpassing estimates at $1.13 billion but EPS falling short at $0.23, missing consensus. Despite this, distributable earnings climb to $586 million, highlighting strong fundraising and capital deployment efforts.

BAM

2 minute read

Used Car Blues Hit Bottom Line, But Penske Speeds Ahead with Sales Growth

By Lekha Gupta

February 7, 2:12 PM

Penske Automotive Group Q4 FY23 performance, boasting $7.27 billion in sales, surpassing analyst projections. Despite hurdles in the used vehicle market, PAG delivers notable growth, including an 8% surge in retail automotive new units and a 7% rise in same-store service and parts gross profit.

PAG

2 minute read

Why Electronic Equipment Company CDW Shares Are Up Today

By Lekha Gupta

February 7, 1:31 PM

CDW experiences stock surge post-Q4 FY23 results, though net sales dip to $5.02 billion, missing estimates. However, the company boasts an expanded gross margin of 23.0% and beats consensus with non-GAAP EPS of $2.57. CEO Christine A. Leahy expresses confidence in the company's trajectory, aiming to outpace US IT market growth by 200 to 300 basis points in 2024. Despite segment declines, CDW remains committed to customer-centric strategies and technology evolution.

CDW

2 minute read

Why Aerospace Company Triumph Shares Are Tumbling Today

By Lekha Gupta

February 7, 12:43 PM

Triumph Group Inc (NYSE: TGI) disappoints investors with below-consensus Q3 results, citing sales of $285.0 million and an adjusted EPS loss of $(0.16). The company's downwardly revised FY24 outlook, with net sales guidance lowered to $1.17 billion-$1.20 billion, reflects challenges and strategic adjustments post-divestiture.

AIR

2 minute read

Why Emerson Electric Shares Are Higher Today

By Lekha Gupta

February 7, 11:58 AM

Emerson Electric impresses investors with a 22% year-over-year surge in first-quarter FY24 net sales, topping expectations at $4.12 billion. The company's performance, marked by a 56% increase in adjusted EPS to $1.22, reflects solid operational gains and enhanced profitability.

EMR

2 minute read

General Motors Shifts Gears: Strikes $19B Pact with LG Chem For Fueling EV Dream

By Lekha Gupta

February 7, 11:46 AM

General Motor's strategic collaboration with LG Chem marks a milestone in the race towards sustainable transportation, with a long-term cathode material supply contract valued at KRW 25 trillion. This move underscores GM's dedication to advancing its EV initiatives and securing a robust battery supply chain for future growth.