Newsfeeds Archive - Page 55 of 246

1 minute read

This Analyst Downgrades Tractor Supply Despite EPS Beat, Cites Short-Term Hurdles

February 2, 3:04 PM

Raymond James analyst Bobby Griffin downgrades Tractor Supply to Outperform, citing near-term earnings challenges post Q4 results. Despite a slight miss in sales and a beat in adjusted EPS, the analyst notes pressures on TSCO's EBIT margin in 2024. Griffin anticipates a recovery in 2025.

TSCO

1 minute read

Industrial Supply Company W.W. Grainger Shares Are Higher After Reporting Q4 Earnings

By Lekha Gupta

February 2, 1:40 PM

W.W. Grainger's Q4 FY23 results beat expectations, reporting sales of $3.997 billion, a 5.1% YoY increase. Despite a slight miss on consensus, the company's adjusted EPS of $8.33 exceeded expectations. Grainger's upbeat performance, with an 11.5% YoY rise in adjusted operating profit, sets the stage for robust FY24 growth, projecting net sales between $17.2 billion and $17.7 billion, boosting GWW shares by 4.08% to $960.26.

GWW

1 minute read

Goldman Sachs On Exxon Mobil Q4 Performance: Focus On Upstream Strength And Cost Strategies Amid Production Surge

By Lekha Gupta

February 2, 1:31 PM

Goldman Sachs analyst Neil Mehta reacts to Exxon Mobil's Q4 FY23 earnings beat, highlighting adjusted net profit of $9.96 billion, surpassing expectations. The analyst projects FY24 revenue at $341.23 million and EPS at $8.32, with FY25 estimates reaching $348.05 million and $9.51.

XOM

1 minute read

Why Norton Parent Gen Digital Shares Are Plummeting Today

By Lekha Gupta

February 2, 12:41 PM

Gen Digital shares fell after reporting lower-than-expected Q3 FY24 financial results, with revenue and EPS missing consensus. The company also declared a quarterly dividend and revised its full-year outlook.

GEN

2 minute read

Exxon’s Q4 Surprise: Beats Earnings Expectations Despite Revenue Dip, Embarks On Bold EV And LNG Ventures

By Lekha Gupta

February 2, 10:04 AM

Exxon Mobil (XOM) reported Q4 FY23 adjusted net profit of $9.96 billion, or $2.48 per share, beating consensus estimates. Improved profits result from favorable derivative impacts, increased volume on key assets.

PXD

2 minute read

Oil Major Chevron’s Mixed Q4 Results: US Upstream Loss, Dividend Boost & More

By Lekha Gupta

February 2, 9:11 AM

Chevron Corporation (CVX) posts Q4 FY23 results with total revenues at $47.18 billion, slightly below the expected $51.62 billion consensus. Despite the revenue miss, the company reports 4% increase in worldwide net oil-equivalent production, driven by strategic acquisitions and Permian Basin growth. Adjusted net earnings at $6.45 billion beat estimates at $3.45 per share. Chevron demonstrates shareholder commitment with an 8% dividend increase, and shares respond positively.

CVX

2 minute read

Why Is Microchip Technology Stock Diving Premarket Friday?

By Lekha Gupta

February 2, 8:40 AM

Microchip Technology (MCHP) faces Q3 challenges with a notable 18.6% YoY sales dip at $1.766 billion. CEO Ganesh Moorthy addresses weaker demand impacting shipments and extended shutdowns. While delivering a beat in adjusted EPS at $1.08, the company experiences a 3.74% stock decline. Amidst these hurdles, Microchip adapts by reducing debt, initiating buybacks, and boosting dividends by 25.7%.

MCHP

2 minute read

BP Shuts Whiting Refinery Due To Transformer Failure, Sparks Fuel Supply Fears: Report

By Lekha Gupta

February 2, 7:26 AM

BP's Whiting refinery reportedly evacuated after transformer failure caused a power outage. There were no details on how long BP would take to restart the refinery.

1 minute read

Why Manufacturing Company Illinois Tool Works Shares Are Down Today

By Lekha Gupta

February 1, 3:09 PM

Illinois Tool Works Inc (ITW) faces a 2.43% share decline as Q4 financials reveal flat Y/Y revenue at $3.98 billion, missing consensus. Despite beating earnings estimates with an adjusted EPS of $2.42, the company's cautious outlook for FY24, with a GAAP EPS guidance of $10.00-$10.40 per share, contributes to the market reaction.

ITW

2 minute read

Why Motion & Control Technologies Provider Parker-Hannifin Shares Are Higher Today

By Lekha Gupta

February 1, 2:35 PM

Parker-Hannifin shares surge after Q2 FY24 results, outperforming with a 3.1% Y/Y sales growth to $4.821 billion. Aerospace Systems lead with a 15% Y/Y sales rise. The company's financial prowess is evident, boasting increased operating cash flow and a declared quarterly cash dividend of $1.48 per share.