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Wire157d ago

Earnings Flash (NFLX) Netflix Posts Q1 EPS $1.23, vs. FactSet Est of $0.76

$NFLX

Wire157d ago

Earnings Flash (NFLX) Netflix Posts Q1 Revenue $12.25B, vs. FactSet Est of $12.18B

$NFLX

Wire157d ago

Sector Update: Financial Stocks Softer Late Afternoon

Financial stocks fell in late Thursday afternoon trading with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each easing 0.2%.The Philadelphia Housing Index dropped 0.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.8%.Bitcoin (BTC-USD) gained 0.4% to $75,140, and the yield for 10-year US Treasuries advanced 2.7 basis points to 4.309%.In economic news, US initial jobless claims last week fell to 207,000 from a downwardly revised 218,000 in the previous week, compared with expectations for a smaller decrease to 213,000 in a survey of analysts by Bloomberg.US industrial production fell by 0.5% in March, compared with expectations for a 0.1% increase in a Bloomberg survey, and following an upwardly revised 0.7% increase in February.The Philadelphia Federal Reserve's monthly manufacturing index rose to 26.7 in April after increasing to 18.1 in March, compared with expectations for a decline to 10 in a survey compiled by Bloomberg.The New York Federal Reserve's services index improved to minus 14 in April from minus 22.6 in March, compared with minus 20 expected in a survey compiled by Bloomberg.In regulatory news, the US Securities and Exchange Commission is seeking public comment in support of a comprehensive review of the Consolidated Audit Trail and other such audit trails used in the regulation of the country's securities markets.In corporate news, Charles Schwab's (SCHW) Q1 results rose amid a surge in client assets, even as revenue fell short of Wall Street's estimates. The shares fell 7.7%.Goldman Sachs (GS) rates-trading business faced pressure in Q1 as Iran-related market volatility led to losses on certain positions, Reuters reported. The bank posted a 10% drop in fixed-income, currencies and commodities revenue to $4 billion, driven by weaker results in interest-rate trading, mortgages, and credit products, the report said. Goldman shares were little changed.Marsh & McLennan (MRSH) shares climbed 4.6% after the company reported Q1 adjusted net income and revenue that surpassed analysts' estimates.The National Basketball Association is in early discussions with private credit firms, including Apollo Global Management (APO), Ares Management (ARES) and Sixth Street about funding a potential European basketball league expansion, Bloomberg reported. Apollo shares rose 0.1%, and Ares fell 2.7%.

$APO$ARES$GS$MRSH$SCHW

Wire157d ago

Top Cryptocurrencies Mixed; Bitcoin Holds Above $75,000 Level

Major digital assets were mixed Thursday, with Bitcoin (BTC-USD) holding above the $75,000 level.The CoinDesk Market Index, which tracks dozens of digital assets including Bitcoin, rose 1.3% in the past 24 hours. The Nasdaq 100 rose 0.4%, the S&P 500 increased 0.2%, and the Dow Jones Industrial Average advanced 0.2%.Bitcoin rose 0.1% to $75,228.1, according to CoinMarketCap data. The most popular cryptocurrency's 24-hour trading volume rose 11.6% to $42.02 billion.Ethereum (ETH-USD), the second-largest digital asset by market value, fell 0.7% to $2,359.XRP (XRP-USD) gained 4.3%, BNB (BNB-USD) rose 1.5%, and Solana (SOL-USD) increased 5%. Dogecoin (DOGE-USD) added 3.3%, while Cardano (ADA-USD) advanced 3.9%.The US 10-year Treasury yield stood at 4.305% at 3 p.m. ET Thursday, up from 4.278% Wednesday, while the five-year yield rose to 3.911% from 3.894%.The total market value of the cryptocurrency industry rose 0.5% in the past 24 hours to $2.53 trillion, with trading volume gaining 13.2% to $149.71 billion.Price: $75274.86, Change: $+461.64, Percent Change: +0.62%

$ADA-USD$BNB-USD$BTC-USD$DOGE-USD$ETH-USD$SOL-USD$XRP-USD

Wire157d ago

WEC Energy Keeps Quarterly Dividend at $0.9525 a Share, Payable June 1 to Holders of Record May 14

$WEC

Wire157d ago

Morgan Stanley Posts 'Strong' Q1 on Trading Strength, Valuation Appears Stretched, Oppenheimer Says

Morgan Stanley (MS) reported a "strong" Q1 driven by trading and investment banking, but Oppenheimer said in a note Thursday the stock's valuation appears stretched relative to its historical levels.Q1 results came in well above its estimates, helped mainly by stronger trading revenue and better investment banking fees, with Morgan Stanley benefiting from strength in equities and select fixed income businesses driven more by business mix than a broader industry shift, Oppenheimer said.Banking revenue improved sharply, supported by advisory, equity underwriting, and debt issuance. The pipeline remained firm and pointed to a gradual recovery ahead. Expenses were broadly in line with expectations despite higher revenue which reflects cost discipline alongside continued investment in talent and technology.Morgan Stanley's capital position remained strong, with share buybacks higher than expected and management indicating that potential regulatory changes could be broadly capital neutral.Oppenheimer kept its perform rating for Morgan Stanley, adding that its current valuation looks elevated relative to history, and said it prefers Jefferies Financial (JEF) over Morgan Stanley for now.Price: $188.24, Change: $-3.38, Percent Change: -1.76%

$JEF$MS

Wire157d ago

Comcast Launches Business Innovation Lab, Shares Gain

Comcast (CMCSA) unveiled late Thursday a new innovation lab for its Comcast Business unit, customers and partners to develop enterprise technology solutions.The lab is launching with three initial program areas created in collaboration with Dell Technologies (DELL), Digital Realty, and Expedient.The program aims to support businesses managing the demands of artificial intelligence, global operations and cybersecurity threats.Shares of Comcast rose around 3.4% in recent trading.Price: $29.33, Change: $+1.03, Percent Change: +3.62%

$CMCSA$DELL

Wire157d ago

Argenx's Vyvgart Seen Gaining More Patients in Coming Months, Wedbush Says

Argenx's (ARGX) Vyvgart remains the fastest-growing treatment for chronic inflammatory demyelinating polyneuropathy, or CIDP, with its patient share expected to rise to 23% from 18%, Wedbush Securities said Thursday in a report.Survey results by Wedbush support Argenx's Vyvgart revenue forecasts of $1.3 billion for Q1 and $5.8 billion for 2026, including $2 billion from CIDP and $3.8 billion from generalized myasthenia gravis, according to the report.Wedbush said it sees additional upside from potential near-term approvals in seronegative and ocular myasthenia gravis, which could broaden the number of patients eligible for the drug.Argenx offers an attractive opportunity given its growth outlook and current valuation, the report said.Wedbush maintained its outperform rating on Argenx stock with a $1,000 price target.Q1 results are due May 7.Price: $828.68, Change: $-12.19, Percent Change: -1.45%

$ARGX

Wire157d ago

H.B. Fuller Raises Quarterly Dividend to $0.245 a Share From $0.235, Payable May 14 to Holders of Record April 30

$FUL

Wire157d ago

Klaviyo Expands Partnership With Canva

Klaviyo (KVYO) said Thursday it has strengthened its Canva partnership with an expanded integration that allows marketers to design and streamline full campaigns in Canva and reach consumers easily.Marketers can now bring design layouts into Klaviyo directly from Canva, and personalize campaigns, the company said.The integration helps marketers with efficient artificial intelligence workflow and brands streamline collaboration between marketing teams, the company added.Price: $18.54, Change: $+0.16, Percent Change: +0.90%

$KVYO

Wire157d ago

Bank of America's Q1 Results Could Support Re-Rating, UBS Says

Bank of America (BAC) reported "clean" Q1 earnings per share of $1.11, beating consensus of $1.02 and UBS estimate of $1.03, with the investment firm saying the results could support a re-rating but the upcoming earnings call and guidance will be key for sustained outperformance.The bank reported deposit costs of 1.99%, beating consensus by 7 basis points. UBS Securities said this is critical as Wells Fargo (WFC) missed on this front, and a differentiated path on deposit rates could be a breakout catalyst for Bank of America.Investment banking fee of $1.84 billion was in line with consensus and did not have the "beat factor" seen at Goldman Sachs (GS) and JPMorgan (JPM), with advisory, equity capital markets, and debt capital markets all coming in line, according to the note.Q1 pre-provision net revenue beat of 4% may not be as notable as at Citi (C), JPMorgan, and Goldman Sachs, the brokerage said in a Wednesday note. However, it is meaningful for a stock with an undemanding valuation. This is especially as expenses fell in line with guidance and the company generated 290 basis points of year-over-year operating leverage.UBS said guidance by the bank is "critical for share performance".The firm has a buy rating on Bank of America with a price target of $62.Price: $53.75, Change: $-0.57, Percent Change: -1.05%

$BAC

Wire157d ago

Market Chatter: Paramount Skydance Says 'Call of Duty' Movie to Release in 2028

Paramount Skydance (PSKY) said the film adaptation of the Microsoft (MSFT)-owned Activision's "Call of Duty" game franchise will release on June 30, 2028, The Variety reported Thursday, citing a company presentation at CinemaCon.Paramount has a track record of adapting games into movies, including "Sonic the Hedgehog," according to the report.Paramount Skydance did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $11.74, Change: $+0.06, Percent Change: +0.56%

$MSFT$PSKY

Wire157d ago

Evercore ISI Adjusts PepsiCo Price Target to $170 From $165, Maintains In Line Rating

PepsiCo (PEP) has an average rating of overweight and mean price target of $170.28, according to analysts polled by FactSet.Price: $157.33, Change: $+2.47, Percent Change: +1.60%

$PEP

Wire157d ago

Flywire Shares Rise After BTIG Upgrade

Flywire (FLYW) shares rose 3.1% in Thursday afternoon trading after BTIG upgraded the stock to buy from neutral with a price target of $17.Trading volume stood at over 2.1 million shares, compared with a daily average of about 1.7 million.Price: $13.40, Change: $+0.41, Percent Change: +3.20%

$FLYW

Wire157d ago

Okta Shares Rise After Upgrade From Raymond James

Okta (OKTA) shares were up over 6% in afternoon trading on Thursday after Raymond James upgraded the company's stock to outperform from market perform.Trading volume stood at over 3.5 million shares against a daily average of about 3.6 million.Price: $71.51, Change: $+4.16, Percent Change: +6.18%

$OKTA

Wire157d ago

Bread Financial Shares Rise After Morgan Stanley Upgrade

Bread Financial Holdings (BFH) shares were up over 1% in Thursday afternoon trading after Morgan Stanley upgraded the stock to equal weight from underweight and raised its price target to $91 from $68.Trading volume stood at more than 212,000 shares, compared with a daily average of about 753,000.Price: $84.38, Change: $+1.23, Percent Change: +1.48%

$BFH

Wire157d ago

Descartes Systems Shares Rise After Rothschild & Co Redburn Upgrade

Descartes Systems Group (DSGX) shares rose over 5% in Thursday afternoon trading after Rothschild & Co Redburn upgraded the stock to buy from neutral, while lowering the price target to $90 from $100.Trading volume stood at over 622,000 shares, compared with a daily average of 724,731.Price: $76.41, Change: $+3.81, Percent Change: +5.25%

$DSGX

Wire157d ago

Arxis Shares Rise in Nasdaq Debut

Arxis (ARXS) shares were higher following their debut on Nasdaq Thursday.The shares were up more than 37% at $38.61 in afternoon trading after opening at $38.00.The manufacturer of electronic components priced its upsized initial public offering of 40.5 million class A shares at $28 apiece. It has granted its underwriters a 30-day option to purchase up to about 6.08 million additional shares.Price: $38.61, Change: $+10.61, Percent Change: +37.89%

$ARXS

Wire157d ago

Update: Marsh & McLennan Shares Rise After Q1 Adjusted Earnings, Revenue Beat Consensus

(Updates with recent stock movement in headline and first paragraph.)Marsh & McLennan (MRSH) shares were up 4.7% in afternoon trading on Thursday after the company reported Q1 adjusted net income and revenue that surpassed analysts' consensus.The company reported Q1 adjusted net income of $3.29 per diluted share, up from $3.06 a year earlier.Analysts polled by FactSet expected $3.22.Revenue for the quarter ended March 31 was $7.6 billion, up from $7.06 billion a year earlier.Analysts surveyed by FactSet expected $7.41 billion.Price: $183.14, Change: $+8.24, Percent Change: +4.71%

$MRSH

Wire157d ago

Piper Sandler Adjusts Price Target on M&T Bank to $245 From $230, Maintains Overweight Rating

M&T Bank (MTB) has an average rating of overweight and mean price target of $234.03, according to analysts polled by FactSet.Price: $217.82, Change: $+0.72, Percent Change: +0.33%

$MTB

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Wire157d ago

Sector Update: Financial Stocks Softer Late Afternoon

$APO$ARES$GS$MRSH$SCHW