-- 沃爾瑪 (WMT) 的第二份損益表推動其股價大幅上漲，但瑞銀證券週一在一份報告中指出，市場尚未充分反映這些業務的長期獲利潛力或成長持續時間。 市場對第二份損益表有爭議，因為市場尚未完全消化其貢獻規模，也未充分考慮沃爾瑪能否維持目前的成長速度。 亞馬遜 (AMZN) 與之具有可比性，可作為沃爾瑪第二份損益表的基準。瑞銀表示，亞馬遜第三方電商平台的規模化發展表明，沃爾瑪能夠長期維持第二份損益表目前的成長速度。 瑞銀預測，沃爾瑪企業整體息稅前利潤（EBIT）到2030年將達到約537億美元，2025年為295億美元。瑞銀預計，到2030年，沃爾瑪第二業務類股（即第二損益表）將貢獻302億美元的息稅前利潤，2025年為85億美元。 報告指出，到2030年，第二業務板塊預計將推動沃爾瑪75%的每股盈餘（EPS）成長，為2030年預計的每股盈餘5.40美元貢獻近2.80美元。 瑞銀維持對沃爾瑪的「買進」評級，目標價為147美元。
Price: $130.37, Change: $-1.23, Percent Change: -0.93%
Tech stocks were mixed late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) increasing 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) decreasing 0.4%.The Philadelphia Semiconductor index decreased 0.5%.In corporate news, Apple (AAPL) is planning to introduce a new feature for its next iPhone software update that will allow users to develop and personalize their own digital tickets and gift cards in the Wallet app, Bloomberg reported. The pass-building feature for iOS 27 Wallet is expected to address the issue of many services still not offering passes compatible with the Wallet platform, the report said. Apple shares were down 1.1%.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target price by $5 to $22, applying an EV/revenue multiple of 2.0x to our 2026 estimate, a discount to its three-year historical average multiple of 2.5x. We trim our 2026 EPS estimate by $0.01 to $3.09 and raise 2027's by $0.14 to $3.45. There was mention of a softer auto sales environment, which created headwinds for trial starts and impacted subscriber acquisition, particularly following last year's tariff-driven pull forward in vehicle sales. Conversion rates for self-pay subscribers saw slight declines, especially as younger car purchasers entered the trial funnel, and used car conversion rates remained lower than new car rates. Subscriber trends are expected to be modestly lower Y/Y, with management cautioning about ongoing pressures and declining to change subscriber guidance for the year due to uncertainties in auto sales and companion subscription take rates.
The US Treasury said Monday that it expects to borrow $189 billion in Q2, a larger borrowing estimate than the $109 billion it announced in its previous statement.The reason for the increase in the borrowing estimate was lower projected net cash flows that were partially offset by a higher-than-expected cash balance at the start of the quarter. The Treasury still assumes a $900 billion end-of-quarter balance.Borrowing is seen at $671 billion in Q3, with an estimated cash balance of $950 billion at the end of September.The Treasury borrowed $577 billion in Q1, ending March with an $893 billion cash balance at the end of the quarter. The Treasury had previously expected to borrow $574 billion with an end-of-March cash balance of $850 billion.The slightly higher amount of Q1 borrowing was due to a higher-than-assumed end-of-quarter cash balance that were partially offset by higher net cash flows, the Treasury said.