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Wire

Medtronic's Deal with Cornerstone Robotics to Complement Hugo Surgery System, Needham Says

Medtronic's (MDT) partnership with Cornerstone Robotics for distribution rights for Sentire robotics system will likely complement the company's Hugo robotic-assisted surgery system, Needham said in a Thursday research report.The brokerage highlighted Sentire's distinct architecture and likely lower price points, which could broaden Medtronic's client base, according to the note.Needham analysts noted that the Cornerstone deal bolsters Medtronic's competitive position in the robotics segment.The brokerage said it had a buy rating on the stock and a price target of $114 per share.Price: $92.72, Change: $+0.12, Percent Change: +0.13%

$MDT
S&P 500 Second Quarter Earnings Outpace Forecast as Reporting Season Nears End, Oppenheimer Says
US Markets

S&P 500 Second Quarter Earnings Outpace Forecast as Reporting Season Nears End, Oppenheimer Says

S&P 500 companies' second-quarter earnings growth continues to outpace early forecasts as the reporting season draws to a close, Oppenheimer Asset Management said Tuesday.With earnings season set to finish this week, profits reported so far are up 53.2% from a year earlier on a gain in revenue of 15.6%, Oppenheimer said.Prior to the start of the quarter, bottom-up estimates from FactSet put analysts' projected earnings growth at 23.6%, the anlaysts said.All sectors except healthcare posted earnings growth, led by energy with a 147% increase, followed by communication services with a gain of more than 113%, Oppenheimer said. Real estate was the only sector with single-digit percentage earnings growth.The healthcare sector saw earnings fall 6.5%, according to the report. Last week, medical-device maker Medtronic (MDT) lifted its full-year outlook after posting better-than-expected fiscal first-quarter results.Second-quarter S&P 500 earnings per share growth accelerated unexpectedly, tracking at 32% year over year based on data through Aug. 7, RBC Capital Markets said in a note. It "appears to be the new peak in S&P 500 EPS growth," surpassing the 30% rate seen in the first quarter despite expectations of a slowdown.Energy led all sectors in revenue growth at 42%, followed by technology and financials, Oppenheimer said.Recent US economic data, including August nonfarm payrolls and the Institute for Supply Management surveys for manufacturing and services, pointed to ongoing resilience in the US economy, John Stoltzfus, Oppenheimer Asset Management chief investment strategist, said in a note to clients. "Resilience remained the operative word," he said.The US economy added nearly three times the jobs expected in August, while the US services sector expanded at a faster rate sequentially in August amid solid demand, surveys from the ISM and S&P Global (SPGI) showed. The manufacturing sector continued to expand last month, with ISM seeing a slight sequential deceleration, but S&P data showed a steady growth rate."For all the noise in and around the stateside market over much of this year, last Friday found the S&P 500 just 1% off from its most recent record high of 7798.99 reached on August 13," Stoltzfus wrote.The four remaining S&P 500 companies are scheduled to report earnings this week, including cloud computing giant Oracle (ORCL) and Photoshop maker Adobe (ADBE), Oppenheimer said.Price: $434.11, Change: $-9.40, Percent Change: -2.12%

$ADBE$MDT$ORCL$SPGI
Wire

Deutsche Bank Adjusts Medtronic Price Target to $92 From $78

Medtronic (MDT) has an average rating of overweight and mean price target of $101.74, according to analysts polled by FactSet.Price: $93.54, Change: $+1.50, Percent Change: +1.63%

$MDT
Wire

Medtronic Begins Fiscal 2027 With a Beat-and-Raise, Validating Growth Acceleration, RBC Says

Medtronic (MDT) delivered a broad-based beat-and-raise to begin fiscal 2027, marking a defining step in its growth acceleration, with another strong quarter and outlook expected for its Cardiac Ablation Solutions segment, in addition to durable growth across several segments, RBC Capital Markets said in a note Tuesday.The company's Sphere-9 catheter remains "one of a kind" in dual-energy point-to-point ablation, while more than 35% growth in the US Affera mapping and ablation system installed base suggests that the product cycle is far from mature, according to the note.The Cardiac Rhythm Management unit grew 15% with 80 basis points of global share gain, with conduction system pacing adding over 200 basis points to CRM growth. The Cranial and Spine Therapies segment also grew 13%, with Stealth AXiS "meaningfully outperforming" in its first full quarter following the launch, while US spine robotics penetration remains in the single digits, the note said.The company raised its organic revenue growth guidance by 50 basis points to 7.25% to 7.75%, exceeding consensus of 6.6% organic revenue growth. Management remained positive, with particular emphasis on the company's growth inflection over the last two quarters, the note added.RBC kept an outperform rating on Medtronic with a price target of $118.Price: $93.68, Change: $+1.64, Percent Change: +1.78%

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Wire

Bernstein Adjusts Medtronic Price Target to $105 From $97, Maintains Outperform Rating

Medtronic (MDT) has an average rating of overweight and mean price target of $101.74, according to analysts polled by FactSet.Price: $92.68, Change: $+0.64, Percent Change: +0.70%

$MDT
Sectors

Sector Update: Healthcare Stocks Advance Late Afternoon

Healthcare stocks were higher late Tuesday afternoon, with the NYSE Healthcare Index adding 0.6% and the State Street Health Care Select Sector SPDR ETF (XLV) up 0.5%.The iShares Biotechnology ETF (IBB) increased 0.7%.In corporate news, Capricor Therapeutics (CAPR) shares rose 1.5% after Piper Sandler upgraded the company's stock to overweight from neutral and adjusted its price target to $25 from $2.Novartis (NVS) shares jumped over 6% after it said Tuesday that phase 3 trials of remibrutinib showed significantly reduced annualized relapse rates compared with teriflunomide in adults with relapsing multiple sclerosis. The trials met their primary endpoints and showed that remibrutinib was superior to teriflunomide on all key secondary measures.Medtronic (MDT) shares gained 1.4%. The company lifted its full-year outlook on Tuesday as it reported better-than-expected fiscal Q1 results.Alumis (ALMS) shares fell 56% after the company said a phase 2 trial of its envudeucitinib experimental drug in moderate-to-severe systemic lupus erythematosus failed to meet its primary and secondary endpoints in the overall trial population.

$ALMS$CAPR$MDT$NVS
Sectors

Sector Update: Healthcare Stocks Rise Tuesday Afternoon

Healthcare stocks were higher Tuesday afternoon, with the NYSE Healthcare Index adding 0.7% and the State Street Health Care Select Sector SPDR ETF (XLV) up 0.4%.The iShares Biotechnology ETF (IBB) increased 0.3%.In corporate news, Novartis (NVS) shares jumped nearly 6% after it said Tuesday that phase 3 trials of remibrutinib showed significantly reduced annualized relapse rates compared with teriflunomide in adults with relapsing multiple sclerosis. The trials met their primary endpoints and showed that remibrutinib was superior to teriflunomide on all key secondary measures.Medtronic (MDT) shares gained 2%. The company lifted its full-year outlook on Tuesday as it reported better-than-expected fiscal Q1 results.Stryker (SYK) said Tuesday that the first surgical procedure using SportSuite Vision on Apple's (AAPL) Vision Pro device was completed at Duke Health. Stryker shares were down 1%.MiniMed (MMED) shares surged past 9%. The company reported a fiscal Q1 breakeven, compared with a loss a year earlier, as net sales increased during the period.

$MDT$MMED$NVS$SYK
Sectors

Sector Update: Healthcare

Healthcare stocks were higher Tuesday afternoon, with the NYSE Healthcare Index adding 0.7% and the State Street Health Care Select Sector SPDR ETF (XLV) up 0.4%.The iShares Biotechnology ETF (IBB) increased 0.3%.In corporate news, Medtronic (MDT) shares gained nearly 2%. The company lifted its full-year outlook on Tuesday as it reported better-than-expected fiscal Q1 results.

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Wire

Top Midday Stories: Anthropic Reportedly Agrees to $35 Billion Computing Deal With Lambda; GoPro to Merge With Starman Optical

All three major US stock indexes were down in late-morning trading Tuesday, as bond yields in the US and around the world rose in response to rising oil prices and inflation concerns.In company news, Amazon-backed (AMZN) Anthropic has agreed to a $35 billion computing deal with Nvidia-backed (NVDA) cloud provider Lambda, Bloomberg reported Monday, citing a person familiar with the matter. The project involves a Texas data center being developed by Hut 8, with Nvidia holding the lease, the report said. Amazon shares were down 2.0% around midday, while Nvidia shares were down 1.0%.GoPro (GPRO) and optical-photonics company Starman Optical said Tuesday they have signed a definitive merger agreement. Under the terms of the deal, GoPro shareholders will receive $1.14 per share, for a total of $285 million in cash and will retain a stake in the combined company of about 10%. GoPro's roughly $92 million of outstanding debt will be repaid in full at closing, the companies said. GoPro shares were up 43.8%.Chevron (CVX) is finalizing a deal for the operating rights to two giant oil fields in Venezuela's Orinoco Belt, Bloomberg reported Tuesday, citing people familiar with the matter. The two fields are located in the Carabobo region, which holds billions of barrels of heavy oil reserves, and are near a big field already operated by Chevron's PetroIndependencia joint venture with state-owned Petroleos de Venezuela, the report said, citing the people. Chevron shares were up 1.5%.Medtronic (MDT) reported fiscal Q1 adjusted earnings Tuesday of $1.45 per share, up from $1.26 a year earlier and above the FactSet consensus analyst estimate of $1.39. Fiscal Q1 revenue was $9.76 billion, up from $8.58 billion a year ago and above the FactSet consensus of $9.55 billion. For fiscal 2027, the company expects adjusted EPS of $5.94 to $6, compared with its previous guidance range of $5.90 to $6 and the FactSet consensus of $5.95. Separately, Medtronic said it formed a partnership with Cornerstone Robotics through which it will invest $700 million. Lastly, Medtronic will invest up to $80 million in Pi-Cardia and retain an option to acquire the company for up to $210 million if certain milestones are met, the companies said Tuesday. Medtronic shares were up 1.7%.Fervo Energy (FRVO) has signed a 396-megawatt power purchase agreement with Alphabet's (GOOG, GOOGL) Google, the company said Tuesday. Under the terms of the agreement, Google will buy energy from Fervo Energy's Cape Station geothermal project to power a potential data center in Utah, Fervo said. The agreement includes an option for Google to expand its offtake by about 600 megawatts by June 2030, the company said. Fervo shares were up 23.8%, while Google's Class C and Class A shares were down 0.7% and 0.9%, respectively.SpaceX (SPCX) has replaced several leaders responsible for building the company's data centers following some civil engineering concerns and reliability issues at facilities in Tennessee and Mississippi, The Information reported Tuesday, citing people familiar with the matter. The company has installed executives from its rocket and satellite internet businesses to oversee data center operations, the report said, citing the people. SpaceX shares were up 0.3%.Price: $1.25, Change: $+0.37, Percent Change: +42.78%

$AMZN$CVX$FRVO$GOOG$GOOGL$GPRO$MDT$NVDA$SPCX
Sectors

Sector Update: Healthcare Stocks Mixed Premarket Tuesday

Healthcare stocks were mixed premarket Tuesday, with the State Street Health Care Select Sector SPDR ETF (XLV) 1% higher and the iShares Biotechnology ETF (IBB) down 0.5%Novartis (NVS) shares were up more than 6% after the company said phase 3 trials of remibrutinib showed significantly reduced annualized relapse rates compared with teriflunomide in adults with relapsing multiple sclerosis.Medtronic (MDT) stock was up more than 2% after the company posted higher fiscal Q1 adjusted earnings and revenue.MiniMed (MMED) reported a fiscal Q1 breakeven, compared with a loss a year earlier, as net sales increased during the period. MiniMed shares were down more than 5% premarket.

$IBB$MDT$MMED$NVS$XLV
Medtronic Raises Full-Year Outlook Following Fiscal First-Quarter Beat
US Markets

Medtronic Raises Full-Year Outlook Following Fiscal First-Quarter Beat

Medtronic (MDT) lifted its full-year outlook on Tuesday as the medical-device maker reported better-than-expected fiscal first-quarter results.The company now anticipates adjusted earnings to be in a range of $5.94 to $6 per share for fiscal 2027, reflecting a higher bottom end versus the prior guidance of $5.90. The current consensus on FactSet is for non-GAAP EPS of $5.95.Organic revenue is pegged to grow by 7.3% to 7.8% for the ongoing fiscal year, compared with previous projections for an increase of 6.8% to 7.3%, according to the firm. The stock inclined 3.3% in the most recent premarket activity."We continue to make targeted investments in innovation, portfolio development, and commercial execution that will support sustainable long-term value creation," Chief Financial Officer Thierry Pieton said in a statement. "The combination of strong operating performance and disciplined financial management drove revenue and adjusted EPS ahead of expectations, enabling us to raise our fiscal 2027 guidance."For the three months through July, Medtronic's adjusted EPS advanced to $1.45 from $1.26 the year before, topping the Street's view for $1.39. Revenue gained 14% to $9.76 billion, exceeding the average analyst estimate of $9.55 billion. Revenue also grew 14% on an organic basis.Last week, Needham said in an emailed client note that it expected Medtronic to top Wall Street's forecasts for the first quarter and raise its fiscal 2027 guidance amid new product launches and stable market growth.Revenue in the cardiovascular portfolio jumped 20% to $3.93 billion in the first quarter, led by a 30% gain in electrophysiology therapies. Sales in the neuroscience and medical surgical divisions rose 10% each to $2.68 billion and $2.28 billion, respectively. Diabetes revenue climbed 17% to $843 million."We are off to a strong start in fiscal 2027," Chief Executive Geoff Martha said. "The strength of our portfolio and pipeline gives us confidence in the opportunities ahead."Separately, Medtronic said it entered into a strategic partnership with Cornerstone Robotics under which it will invest $700 million in the surgical robotics company. The investment will give Medtronic the right to distribute Cornerstone Robotics' Sentire surgical system in certain markets outside the US where the platform is approved.Last month, Becton Dickinson (BDX) raised its full-year earnings guidance, while Abbott Laboratories (ABT) in July lifted its full-year earnings outlook and reported quarterly results above market estimates. Healthcare products conglomerate Johnson & Johnson (JNJ) also raised its guidance for 2026 in July.

$ABT$BDX$JNJ$MDT
Asia Markets

Update: US Equity Futures Fall Pre-Bell Tuesday as Global Bond Yields, Oil Prices Rise

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Tuesday as concerns about inflation and higher oil prices lifted global bond yields while technology-related stocks slipped.Dow Jones Industrial Average futures were 0.6% lower, S&P 500 futures were down 0.6%, and Nasdaq futures were 1.2% lower.The US 10-year Treasury note yield reached a 20-month high, rising 3 basis points to trade at 4.7880%, while borrowing costs in Japan and the UK attained multi-decade highs.Traders digested the latest round of earnings, with Medtronic (MDT) posting higher fiscal Q1 adjusted earnings and revenue.Palo Alto Networks (PANW) is expected to report its fiscal Q4 results after the market closes. Analysts polled by FactSet expect earnings of $0.98 per share on revenue of $3.35 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.8% at $92.65 per barrel and US West Texas Intermediate crude 2.8% higher at $88.16 per barrel.The final S&P Global manufacturing purchasing managers index for August, due at 9:45 am ET, is seen at 53.4, up from its prior value of 53.2, according to estimates compiled by Bloomberg.The August Institute for Supply Management's manufacturing index, due at 10 am ET, is projected at 55.2, down from 55.6 in the previous month. July job openings from the US Department of Labor's Job Openings and Labor Turnover Survey are expected at 7.313 million, compared with 7.359 million in the prior month. The July construction spending report is also due at 10 am ET.In other world markets, Japan's Nikkei closed 0.2% lower, Hong Kong's Hang Seng ended 0.9% lower, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was down 0.6%, and Germany's DAX index was 1% lower in Europe's early afternoon session.In equities, stocks of Nvidia (NVDA), Amazon (AMZN), and Micron Technology (MU) were all down as part of a wider downswing in the technology sector. Nvidia shares dropped 1.5%, Amazon stock was 1.6% lower, and Micron Technology shares were down 2.3%.On the winning side, Medtronic stock was up 2.5% after the company's fiscal Q1 adjusted earnings and revenue surpassed analysts' consensus. Novartis (NVS) shares rose 5.9% after the company said that phase 3 trials of remibrutinib showed significantly reduced annualized relapse rates compared with teriflunomide in adults with relapsing multiple sclerosis. Sony Group (SONY) stock was 2% higher after a Nikkei Asia report that the company's semiconductor division will build an artificial intelligence model for facility maintenance with Saudi Aramco.

Dow JonesNasdaq CompositeS&P 500$AMZN$MDT$MU$NVDA$NVS$PANW$SONY
Japan

US Equity Futures Fall Pre-Bell Tuesday as Global Bond Yields, Oil Prices Rise

US equity futures were edging lower pre-bell Tuesday as concerns about inflation and higher oil prices lifted global bond yields while technology-related stocks slipped.Dow Jones Industrial Average futures were 0.5% lower, S&P 500 futures were down 0.5%, and Nasdaq futures were 1% lower.The US 10-year Treasury note yield reached a 20-month high, rising 3 basis points to trade at 4.7880%, while borrowing costs in Japan and the UK attained multi-decade highs.Traders digested the latest round of earnings, with Medtronic (MDT) posting higher fiscal Q1 adjusted earnings and revenue.Palo Alto Networks (PANW) is expected to report its fiscal Q4 results after the market closes. Analysts polled by FactSet expect earnings of $0.98 per share on revenue of $3.35 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4% at $91.93 per barrel and US West Texas Intermediate crude 2.2% higher at $87.64 per barrel.The final S&P Global manufacturing purchasing managers index for August, due at 9:45 am ET, is seen at 53.4, up from its prior value of 53.2, according to estimates compiled by Bloomberg.The August Institute for Supply Management's manufacturing index, due at 10 am ET, is projected at 55.2, down from 55.6 in the previous month. July job openings from the US Department of Labor's Job Openings and Labor Turnover Survey are expected at 7.313 million, compared with 7.359 million in the prior month. The July construction spending report is also due at 10 am ET.

Dow JonesNasdaq CompositeS&P 500$MDT$PANW
Stocks Down Pre-Bell as Traders Weigh Renewed US-Iran Tensions
US Markets

Stocks Down Pre-Bell as Traders Weigh Renewed US-Iran Tensions

US equity futures were tracking in the red on Tuesday as investors weigh Middle East tensions after the US and Iran recently exchanged strikes.The S&P 500 and the Dow Jones Industrial Average declined 0.5% each in premarket activity, while the Nasdaq was off 0.8%. The indexes finished the previous trading session lower.President Donald Trump reportedly told Fox News on Monday that the US will respond to Iran's attacks on its military bases in the Middle East."We're going to hit them hard," Trump reportedly said. "There will be a response."Iran reportedly attacked US bases in Jordan and the United Arab Emirates on Monday, in retaliation for Washington striking Iranian rocket launchers on Tehran's Larak Island. The US attack was the first confirmed military strike against Iran since late July and comes after Washington launched an economic campaign last week to cut off financial channels that support Tehran.Iranian President Masoud Pezeshkian reportedly said Monday that Iran is not seeking to engage in a war with the US, but will respond firmly to any acts of aggression.West Texas Intermediate crude oil rose 2.7% to $88.05 a barrel before the opening bell, while Brent increased 2.2% to $92.47.The UK Maritime Trade Operations said Monday that a tanker was reported to have been struck by three unknown projectiles while transiting the Strait of Hormuz."These developments have once again reduced the prospects of bringing the conflict to an end," Saxo Bank said in a Monday report. "However, with an estimated (6 million to 8) million barrels per day of crude flowing through the strait, the upside risk is for now being capped."Treasury yields were trending higher in premarket action, with the two-year rate gaining 1.2 basis points to 4.36% and the 10-year rate adding 3 basis points to 4.79%.Traders also await the first batch of fresh labor data this week, with the Job Openings and Labor Turnover Survey for July out at 10 am ET. The ADP Employment report, the Challenger, Gray & Christmas job cut report and the government's nonfarm payrolls data, all for August, are due later in the week.US nonfarm payrolls are projected to rebound stronger than expected in August, Oxford Economics said in a note Monday, describing labor market conditions as balanced. The brokerage expects nonfarm payrolls to have increased by 95,000 in August, compared with the Bloomberg-polled consensus of a 55,000 increase.Tuesday's economic calendar also has the final Purchasing Managers' manufacturing index for August at 9:45 am, followed by the Institute for Supply Management's manufacturing index for the same month at 10 am.Federal Reserve Governor Michael Barr is slated to speak at 9:05 am.Shares of GoPro (GPRO) surged 89% pre-bell following media reports that YouTube creator Mark Fischbach has become the company's largest single shareholder. Robinhood Markets (HOOD) inclined 1.9%.Palo Alto Networks (PANW), Dell Technologies (DELL), Credo Technology (CRDO) and MongoDB (MDB) are expected to release their latest financial results after the markets close Tuesday. Medtronic (MDT) posts earnings before the bell, among others.Gold slipped 1.3% to $4,423 per troy ounce, while bitcoin decreased 1.4% to $77,924.

Dow JonesNasdaq CompositeS&P 500$CRDO$DELL$GPRO$HOOD$MDB$MDT$NIO$PANW
Asia Markets

Update: US Equity Futures Slightly Lower Pre-Bell as US, Iran Resume Hostilities in Middle East

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging slightly lower pre-bell Monday as the US and Iran resumed hostilities for the first time since late July, raising oil prices and dampening hopes for an early resolution of the conflict between the two nations.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.2% lower.US forces on Sunday struck two rocket launchers on Iran's Larak Island, US Central Command told MS Now. Iran responded by attacking US bases in Jordan, Iranian state media reported.President Donald Trump posted on Truth Social an AI-generated video clip that he said showed Iran's oil hub Kharg Island being "blown to smithereens."Expected to report financial results this week are Dell Technologies (DELL), Palo Alto Networks (PANW), Medtronic (MDT), Broadcom (AVGO), Snowflake (SNOW), and Hewlett Packard Enterprise (HPE).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 5.5% at $90.85 per barrel and US West Texas Intermediate crude 3.4% higher at $86.26 per barrel.The Dallas Fed manufacturing survey for August will be released at 10:30 am ET.In other world markets, Japan's Nikkei closed 0.1% lower, Hong Kong's Hang Seng ended 0.1% lower, and China's Shanghai Composite finished 0.9% higher. Meanwhile, Germany's DAX index was 0.6% lower in Europe's early afternoon session. The UK's FTSE 100 was closed for a public holiday.In equities, stocks of Exxon Mobil (XOM), Chevron (CVX), and Shell (SHEL) were higher as oil prices increased. Exxon Mobil shares rose 2.1%, Chevron stock was up 2.4%, and Shell (SHEL) shares were 1.3% higher.On the losing side, PG&E (PCG) stock was more than 16% lower after an ABC7 report on Sunday that the company faces continued legal exposure after California amended legislation to protect wildfire survivors' right to sue utilities for equipment-caused blazes. Pinterest (PINS) shares were down 3.2% after the company disclosed late Friday that Chief Financial Officer Julia Brau Donnelly will leave the company on Oct. 30 after three years to pursue an opportunity at a private company.

Dow JonesNasdaq CompositeS&P 500$AVGO$CVX$DELL$HPE$MDT$PANW$PCG$PINS$SHEL$SNOW$XOM
Japan

US Equity Futures Slightly Lower Pre-Bell as US, Iran Resume Hostilities in Middle East

US equity futures were edging slightly lower pre-bell Monday as the US and Iran resumed hostilities for the first time since late July, raising oil prices and dampening hopes for an early resolution of the conflict between the two nations.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.2% lower.US forces on Sunday struck two rocket launchers on Iran's Larak Island, US Central Command told MS Now. Iran responded by attacking US bases in Jordan, Iranian state media reported.President Donald Trump posted on Truth Social an AI-generated video clip that he said showed Iran's oil hub Kharg Island being "blown to smithereens".Expected to report financial results this week are Dell Technologies (DELL), Palo Alto Networks (PANW), Medtronic (MDT), Broadcom (AVGO), Snowflake (SNOW), and Hewlett Packard Enterprise (HPE).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.4% at $91.10 per barrel and US West Texas Intermediate crude 3.7% higher at $86.53 per barrel.The Dallas Fed manufacturing survey for August will be released at 10:30 am ET.

Dow JonesNasdaq CompositeS&P 500$AVGO$DELL$HPE$MDT$PANW$SNOW
Wire

Medtronic Seen Beating Q1 Estimates, Raising 2027 Guidance, Needham Says

Medtronic (MDT) is expected to beat Q1 revenue and EPS estimates and raise its fiscal 2027 guidance, supported by new product launches, stable market growth and management's conservative guidance, Needham said in a note Thursday.The company is scheduled to report its fiscal Q1 results Tuesday.The brokerage believes Medtronic can sustain 6% or higher organic growth in FY27, driven by Affera PFA, Symplicity Spyral, Hugo and other new product launches.Needham said Affera PFA drove the company's recent growth acceleration, while Symplicity Spyral and Hugo are expected to make increasing contributions to overall growth.Investors are likely to focus on TAVR trends, newer product launches, pricing and volume, emerging markets, cost reduction efforts and the Diabetes separation, according to the note.Needham maintained a buy rating and raised its price target to $114 from $101.Price: $90.73, Change: $-1.30, Percent Change: -1.41%

$MDT
Research

UBS Upgrades Medtronic to Buy From Neutral, Raises Price Target to $100 From $85

Medtronic (MDT) has an average rating of overweight and mean price target of $97.35, according to analysts polled by FactSet.Price: $88.41, Change: $+4.19, Percent Change: +4.98%

$MDT
Wire

Medtronic Completes Acquisition of Scientia Vascular

Medtronic (MDT) has completed its acquisition of privately held medical device company Scientia Vascular in a $550 million deal, plus potential milestone payments, the company said Friday.The deal strengthens its neurovascular business by integrating Scientia's guidewires and catheters with its existing portfolio to support the full procedural workflow, the company said.The company added the deal is expected to be minimally dilutive to adjusted earnings per share in fiscal 2027 and accretive thereafter.Price: $80.29, Change: $-0.05, Percent Change: -0.06%

$MDT
Wire

Medtronic Positioned for Potential Upside to Fiscal 2027 Guidance, RBC Capital Markets Says

Medtronic (MDT) could deliver upside to fiscal 2027 guidance as cardiac ablation, renal denervation, Hugo, Stealth AXiS, and Altaviva momentum support growth, RBC Capital Markets said in a note Wednesday.Medtronic beat fiscal Q4 estimates, delivering 6.6% organic revenue growth and adjusted earnings of $1.55 per share. Cardiac ablation solutions led the beat, with sales up 78% from a year earlier and US growth of 124%, the brokerage said.Management's fiscal 2027 guidance came in below consensus, but several growth drivers are improving at the same time, including renal denervation that analysts described as underappreciated, according to the note.The brokerage said it now models fiscal 2027 adjusted sales growth of 7.1% and adjusted earnings of $5.96 per share.RBC Capital Markets maintained its outperform rating and $118 price target on the stock.Shares of Medtronic were up more than 4% in Thursday trading.Price: $81.58, Change: $+3.63, Percent Change: +4.66%

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