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☆ Here are Thursday's biggest analyst calls: Ferrari, Netflix, Tesla, Nvidia, TJX, Carvana & more
▼ + stars: | 2024-05-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

UBS upgrades Burlington to neutral from sell UBS said the outlook for Burlington is improving. Jefferies reiterates Netflix as buy After a change in analyst coverage, the firm says it's standing by its buy rating. UBS upgrades TJX Companies to buy from neutral UBS says the off-price retailer is a "growth stock with surprising upside." UBS downgrades CVS to neutral from buy UBS said it sees too much uncertainty for shares of CVS. JPMorgan upgrades Carvana to overweight from neutral JPMorgan upgraded Carvana following earnings on Wednesday.

Persons: Morgan Stanley, Ferrari, Mizuho, C27E, BURL, Jefferies, Rosenblatt, TD Cowen downgrades Wolfspeed, Cowen, Raymond James, Parsons, Ziff Davis, KBW, Piper Sandler, Cantor Fitzgerald, Tesla, Cantor, it's bullish Organizations: Nvidia, Mizuho, UBS, Netflix, Networks, Enterprise, Jefferies, CTV, TJX Companies, Department Stores, CVS, JPMorgan, Susquehanna, MGM, Bank of America, Community Bank, Piper, NYCB, ~$ Locations: Burlington, Las Vegas

☆ Activist Jana Partners calls for a strategic review at Wolfspeed. Here’s how it may develop
▼ + stars: | 2024-04-27 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

Activist Commentary: Jana is a very experienced activist investor founded in 2001 by Barry Rosenstein. Wolfspeed is the world's leading producer of silicon carbide, or SiC, and a manufacturer of silicon carbide applications. Jana also recommends that the board commences a review of strategic alternatives, including a possible sale of the company. At Freshpet, Jana also made operational and capital allocation recommendations in addition to reviewing a sale of the company. Here, there has been no such mention of a "Jana Dream Team," but it is a little too early for that.

Persons: Jana, Barry Rosenstein, Rosenstein, John Palmour, Wolfspeed, Renesas, Ken Squire Organizations: John Palmour Manufacturing, Silicon Carbide, Mitsubishi Electric, 13D Locations: Siler City, N.C, Marcy, N.Y, North Carolina, Mohawk, New York, Germany, Freshpet

☆ 12 portfolio companies report earnings in the week ahead. What we want to hear from each
▼ + stars: | 2024-04-27 | by ( Zev Fima | ) www.cnbc.com time to read: +15 min

The action quickly and sharply reversed back to the upside Friday after blowout earnings reports from Alphabet and Microsoft . In the week ahead, earnings are likely to drive the action again, though we'll get a few important macroeconomic reports. Earnings: We've got the biggest week of the earnings season ahead of us, with 12 Club holdings set to report. Eli Lilly 's report Tuesday morning continues to be all about sales of type-2 diabetes treatment Mounjaro and weight-loss drug Zepbound. In DuPont 's report Wednesday morning, we're looking for a continued rebound in its semiconductor business following a sequential increase last quarter.

Persons: Ford, we'll, Dow Jones, We've, Buckle, Eaton, Eli Lilly, Lilly, We're, Estee Lauder, Fabrizio Freda, we've, Linde, Bausch, Royal Philips, Woodward, SIRI, Archer, Johnson, Stanley Black, Decker, BAX, Cardinal Health, Parker, Belden, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Microsoft, Meta, Google Search, Big Tech, Nvidia, Broadcom, Ford Motor, Honeywell, Danaher, Labor Department, Labor, PMI, Services PMI, GE Healthcare, Amazon Web Services, Starbucks, Deutsche Bank, DuPont, Bausch Health, U.S ., Appeals, Apple, iPhones, Vision, ON Semiconductor, Resource Partners, Franklin Resources, Paramount, Transocean Ltd, Semiconductors, Arch Capital, Logitech International, Lattice Semiconductor, F5 Networks, Sanmina Corporation, GE HealthCare, PayPal, 3M Company, McDonalds, Enterprise Products Partners, Cola Company, Melco Resorts, Entertainment, SiriusXM Holdings, Oatly, American Electric Power Company, Leidos Holdings, Marathon Petroleum, Daniels, Midland Co, Equitrans Midstream Corporation, HSBC Holdings, HSBC, Devices, Caesars Entertainment, Lumen Technologies, Mondelez, Pfizer, CVS Health, Barrick, Mastercard Inc, Cruise Line Holdings Ltd, Kraft Heinz Company, Marriott International, Ares, Generac Holdings, Johnson Controls, Cenovus Energy Inc, Qualcomm, Devon Energy, Paycom, Axcelis Technologies, Coeur D'Alene Mines, Sunnova Energy International, MGM Resorts International, MGM, Solar Inc, Oil, Allstate, Co, Tenable Holdings, Enovix Corporation, Gladstone Capital, Avis Budget Group, eBay, EBAY, LIN, Novo Nordisk, Natural Resources, PENN Entertainment, Apache, ConocoPhillips, InMode Ltd, Baxter International, Cardinal, Regeneron Pharmaceuticals, Apollo Global Management, LLC, Cinemark Inc, Dominion Energy, Coterra Energy, Coinbase, Bill.com Holdings, Booking Holdings, United States Steel, AXT Inc, Materials, Energy, Hershey Company, XPO Logistics, Cboe, American Pipeline, Amneal Pharmaceuticals, Brookfield Business Partners, Brookfield Renewable Corporation, Magna International, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Bloomberg, Getty Locations: U.S, megaprojects, China, Eaton, Corning, Coeur D'Alene, Albemarle, ALB, Novo, New York

☆ Activist investor Jana discloses 'significant' stake in Wolfspeed, urges semiconductor manufacturer to consider sale
▼ + stars: | 2024-04-22 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Activist investor Jana Partners disclosed in a letter Monday that it has built a "significant" position in semiconductor manufacturer Wolfspeed and urged the company to resolve what it called a "staggering erosion of shareholder value," up to and including a sale. In the letter to Wolfspeed's board, viewed by CNBC, Jana wrote that the semiconductor company's "differentiated manufacturing capabilities" and status as an "American supplier supporting the energy transition" gave it significant intrinsic value. Jana also wrote that management's missteps around capital allocation, execution and strategy had depressed the stock. Wolfspeed, formerly known as Cree, is a supplier of electronic components and semiconductors used to manage electricity, often in cars. Jana said Wolfspeed's board should "promptly" begin a comprehensive review of the business, up to and including a sale.

Persons: Scott Ostfeld, Jana Partners, Jana, Wolfspeed, Barry Rosenstein, Kif Leswing Organizations: JANA Partners, CNBC, Reuters, TSR, Qualcomm, Trimble Locations: New York City, U.S, Mohawk Valley, Siler City, Freshpet ,

☆ Stocks making the biggest moves midday: Intel, Spotify, Ulta Beauty and more
▼ + stars: | 2024-04-03 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Spotify Technology – The music-streaming company popped more than 8%. Bloomberg reported that Spotify is upping prices for its premium subscription service within several markets, including the U.S. Ford Motor announced that first-quarter U.S. sales rose 7% from a year ago, while electric vehicle sales jumped 86%. SoFi Technologies – Shares of the financial technology company rose 4.7% after Needham initiated coverage with a buy rating . GE Aerospace – GE Aerospace surged more than 6%, a day after the conglomerate once known as General Electric completed the spinoff of its power business.

Persons: Ulta, Dave, Buster's, Wells, Tesla, Nelson Peltz, Needham, —, Alex Harring, Hakyung Kim, Tanaya Macheel, Jesse Pound Organizations: Intel, Spotify Technology, Bloomberg, Spotify, U.S, Cal, Disney – Disney, Signet, Ford, Ford Motor, GE Aerospace – GE Aerospace, Electric, GE Vernova, New York Stock Exchange Locations: Cal, Maine

☆ Stocks making the biggest moves premarket: Intel, Tesla, Dave & Buster's, Paramount and more
▼ + stars: | 2024-04-03 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Intel — Shares fell more than 4% after the company disclosed a growing operating loss in its semiconductor manufacturing business. Tesla — The electric vehicle maker slipped roughly 1% after Guggenheim and Deutsche Bank slashed their price targets on the stock. The target cuts follow Tesla reporting much weaker-than-expected first-quarter delivery numbers . Dave & Buster's — Shares jumped 5% after the restaurant and entertainment chain increased its share repurchase authorization by $100 million, bringing the total available share repurchase authorization to $200 million. Ally Financial — Shares slipped 2% following a downgrade to underweight from neutral at Morgan Stanley.

Persons: Tesla, Buster's, Wells, Morgan Stanley, Richard Shane, Hakyung Kim, Brian Evans, Lisa Han, Jesse Pound Organizations: Intel —, Intel, Guggenheim, Deutsche Bank, Paramount, The New York Times, Cal, Maine Foods

Meanwhile, Wells Fargo called for 20% upside for Meta Platforms and raised one of its estimates for the company's ad sales. Despite those positive trends, the new price target from KBW is still below the stock's closing level on Tuesday of $245.84. — Jesse Pound 5:53 a.m.: Redburn Atlantic upgrades UPS UPS could be in for strong gains after a slow start to the year, according to Redburn Atlantic. Analyst Oliver Holmes upgraded the package delivery giant to buy, raising its price target to $180. "We believe UPS is at, or close to, trough revenue, volume, margin and share price levels," Holmes wrote to clients.

Persons: Wells, Tesla, Gary Mobley, Wolfspeed, Mobley, Wells Fargo, — Jesse Pound, Ronald Jewsikow, Guggenheim, Jewsikow, Richard Shane, Shane, Coinbase, Keefe, Kyle Voigt, Voigt, Ken Gawrelski, Gawrelski, Oliver Holmes, Holmes, Fred Imbert, ~ ~ . Organizations: CNBC, Wednesday, UPS, Hyundai, Guggenheim, JPMorgan, ADV, SEC, Meta, Wall, ~$ Locations: Wells Fargo, 4Q23 ., Tuesday's

☆ Here are Wednesday's biggest analyst calls: Tesla, Amazon, Alphabet, Meta, UPS, Tyson, Disney, SoFi & more
▼ + stars: | 2024-04-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

"We are initiating coverage of SoFi Technologies (SOFI) with a BUY rating and a $10 price target." "Weighing Robinhood's Compelling New Product Roadmap Against a Now More Demanding Stock Price / Valuation." "As a result of higher revenue and Adjusted EBITDA estimates, we are raising our price target to $230 from $160 previously, and maintaining our MP rating." Wells Fargo reiterates Alphabet as equal weight Wells lowered its price target on Alphabet to $141 per share from $144. Guggenheim reiterates Disney as buy Guggenheim raised its price target on the stock to $140 per share from $125. "

Persons: Needham, SoFi, Baird, INFA, Piper Sandler, Piper, KBW, DA Davidson, ZETA, Goldman Sachs, Goldman, it's, Carlisle, Raymond James, Jones Lang LaSalle, Eaton Deutsche, Wells, it's bullish, Tyson, Guggenheim, Tesla, Riley, Gordon Haskett Organizations: SoFi Technologies, Ecolab Inc, Citi, Zeta Global, DA, Carlisle Companies, Deutsche Bank, Eaton, Fluence, Meta, PepsiCo, Argus, JPMorgan, UW, Tyson Foods Citi, UPS, Barclays, Amazon, Disney, Guggenheim, Deutsche, Holdings, Booking Holdings, Inc, Costco, Northland, WT Locations: Northland

☆ Lightning Round: Palantir CEO is the 'Dave Portnoy of cybersecurity', says Jim Cramer
▼ + stars: | 2024-02-06 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Palantir CEO is the 'Dave Portnoy of cybersecurity', says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: Wolfspeed, Purecycle, Otter Tail, Palantir, Liberty Energy and more.

Persons: Dave Portnoy, cybersecurity, Jim Cramer Organizations: Liberty Energy

☆ Stocks making the biggest moves midday: Peloton, Honeywell, Norfolk Southern, Boot Barn and more
▼ + stars: | 2024-02-01 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Meanwhile, analysts polled by LSEG, formerly known as Refinitiv, forecast earnings of 81 cents per share and $4.34 billion in revenue. Peloton — Shares fell more than 23% on the back of the company's bleak outlook for the current quarter and full-year sales. Peloton is forecasting sales to come in between $700 million and $725 million for the quarter. Analysts polled by LSEG expected revenue of $9.70 billion. Adjusted earnings per share came in at $2.10 versus the $1.66 expected from analysts polled by StreetAccount.

Persons: Robinson, Nextracker, Wolfspeed, MaxLinear, Qorvo, TD Cowen, Gabe Daoud Jr, — CNBC's Pia Singh, Lisa Kailai Han, Jesse Pound, Hakyung Kim, Spencer Kimball, Scott Schnipper Organizations: LSEG, —, Honeywell, New York Community Bank, Regional Banking, Western Alliance, T Bank, Norfolk Southern, Ancora Holdings, Street Journal, Merck —, Merck, FactSet, StreetAccount, Revenue, Qualcomm, Citi

☆ Stocks making the biggest moves premarket: Qualcomm, Merck, General Motors and more
▼ + stars: | 2024-02-01 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

The stock is trading at a low multiple compared to spending, the firm highlighted as a key catalyst for investors. Nextracker — Shares of the solar technology company jumped 17% on bullish analyst notes following its strong quarterly results and guidance increase. Wolfspeed guided for fiscal third-quarter revenue of $185 million to $215 million, below the $224 million, LSEG estimate. Robinson reported 50 cents per share in adjusted earnings, while analysts expected 81 cents per share, per LSEG. The company reported $9.44 billion in revenue, while analysts surveyed by LSEG were looking for $9.70 billion.

Persons: Christopher Danely, Morgan Stanley, Nextracker, Wolfspeed, TD Cowen, ChargePoint, C.H, Robinson, Merck, company's, —, Alex Harring, Lisa Kailai Han, Tanaya Macheel, Jesse Pound, Michelle Fox Theobald Organizations: Qualcomm, Citi, General Motors, General, Barclays, Bank of America, Revenue, Merck, Japanese, Honeywell, LSEG, Norfolk Southern, Ancora Holdings, Wall Street Journal Locations: Norfolk Southern

☆ Stocks making the biggest moves after hours: Align Technology, Qualcomm, Wolfspeed and more
▼ + stars: | 2024-01-31 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Adjusted earnings per share of $2.75 were better than the $2.37 per share consensus estimate by LSEG, formerly known as Refinitiv. Align Technology — Shares popped 10% after Align Technology reported fourth-quarter results that surpassed estimates on the top and bottom lines. The orthodontics company reported adjusted earnings of $2.42 per share on revenue of $957 million. Adjusted earnings per share of $1.93 beat the forecast $1.88 in earnings per share, according to FactSet. Wolfspeed is calling for revenue of $185 million to $215 million, while analysts polled by FactSet sought revenue of $222.6 million.

Persons: LSEG, MaxLinear, FactSet, Qorvo, Robinson –, Robinson Organizations: Qualcomm, LSEG, Technology, MetLife — MetLife, FactSet, Rocket Lab

☆ 10 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-01-27 | by ( Zev Fima | ) www.cnbc.com time to read: +16 min

All three major averages posted gains for the third consecutive week, lifted by solid quarterly earnings and positive economic data. Earnings season ramps up next week, with five of the Super Six mega-cap stocks delivering results. Employment numbers are the most important economic data, with Friday's January nonfarm payrolls report carrying the most weight. The January ISM Manufacturing report on Thursday and December's factory orders report Friday are expected to show the sector still in contraction mode. But earnings and commentary this week from peer Sartorious made us encouraged about a return to growth in 2024.

Persons: nonfarm, December's, Sartorious, We've, Stanley Black, Decker, We're, We'd, Royal Philips, Crane, Woodward, ServisFirst, Cadence Bancorporation, CADE, Johnson, Phillips, Avery Dennison, Columbus McKinnon, Robinson, SIRI, Cardinal Health, Parker, DOV, Pitney Bowes, Ferrari N.V, CSW, COLM, W.W, Grainger, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Tim Cook, Justin Sullivan Organizations: Gross, Procter, Gamble, Gillette, Super, Consumer, JPM Healthcare, Amazon, Microsoft, Honeywell, Aerospace, Solutions, Apple Watch, Masimo, Vision Pro, Franklin Resources, Resource Partners, Bank of Marin Bancorp, Bank7 Corp, Pacific Premier Bancorp Inc, Provident Financial Holdings, Dynex, Cliffs Inc, Nucor Corp, Whirlpool Corp, F5 Networks, Capital Southwest Corp, Harbors Investment Corp, Crane Co, Payne, Equity, Heartland Financial, Cadence, FinWise Bancorp, Five Star Bancorp, PotlatchDeltic Corporation, Sanmina Corporation, Pfizer, General Motors Corp, United Parcel Service, JetBlue Airways Corporation, Smith Corp, Marathon Petroleum Corp, HCA Healthcare, Oshkosh Corporation, SYSCO Corp, Danaher Corp, Johnson Controls, M.D.C . Holdings, Commvault Systems Inc, Hope Bancorp, Hubbell Incorporated, Malibu Boats, Polaris Industries, Inc, Camden National Corp, Cambridge Bancorp, Microsoft Corp, Starbucks Corp, Devices, Electronic Arts Inc, Juniper Networks, Stryker Corp, Lending, Canadian, Canadian Pacific Kansas City Limited, Mondelez, Chubb Corporation, Modine Manufacturing, Partners, Management, Hawaiian Holdings, Manhattan Associates, Unum Group, UNM, Axos, Enova, Boston Properties, Boeing Co, Novo Nordisk, Mastercard Inc, Roper Technologies, Boston Scientific Corporation, MarketAxess Holdings, Fisher, Aptiv PLC, Hess Corp, Nasdaq, United Microelectronics Corp, Rockwell Automation, Teva Pharmaceutical Industries, Ltd, Avery, Avery Dennison Corp, Extreme Networks, Otis Worldwide Corporation, OTIS, Columbus, Columbus McKinnon Corp, Central Pacific Financial Corp, Brinker International, Fortive Corporation, Qualcomm, Technology, Metlife, Hanover Insurance, Barn Holdings, CONMED Corporation, DLH Holdings Corp, Meritage Homes Corporation, Honeywell International, Eaton Corp, Altria, Royal Caribbean Cruises Ltd, Merck, Co, Enterprise Products Partners, Dorian LPG, SiriusXM Holdings, Cardinal, Hannifin Corporation, Allegheny Technologies Incorporated, Tractor Supply Company, Trane Technologies, Dover Corp, Huntington Ingalls Industries, Brunswick Corporation, Dickinson, Canada Goose Holdings, Kirby Corp, WEC Energy Group, WestRock Company, Allegro MicroSystems, Ball Corporation, Broadridge Financial, BrightSphere Investment Group, CMS Energy Corp, Lancaster Colony Corp, Rogers Communications Inc, Sanofi, Apple, Atlassian Corporation, United States Steel Corp, Corp, Adtalem Global, Homes, DXC Technology Company, Eastman Chemical Company, Gen, Post Holdings, America, Columbia Sportswear Company, Exxon Mobil Corp, Chevron Corporation, Myers Squibb Co, CIGNA Corp, Regeneron Pharmaceuticals, Charter Communications, AON, Cboe, Dwight, Banco Santander, Jim Cramer's Charitable, CNBC, Apple Vision, Getty Locations: China, East, United States, Europe, Cleveland, Alexandria, California, Corning, Canadian Pacific, Teradyne, TER, Novo, Hanover, PBI, Skechers U.S.A, Bristol, Chile

☆ Two chip stocks are surging this week. Options traders bet one will keep going and one will falter
▼ + stars: | 2023-11-02 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

Two of the semiconductor stocks that reported this week saw some big post-earnings moves and substantially above-average options trading activity. Among the biggest winners were Wolfspeed Inc. (WOLF) and Advanced Micro Devices Inc. (AMD) . AMD WOLF 5D mountain AMD vs Wolfspeed, 5 days Are options markets aligned with these spikes or fading them using them as opportunities to initiate new bearish positions? Betting against Wolfspeed Wolfspeed popped sharply after a modest topline beat. Betting on AMD Unlike WOLF, AMD was up over 50% year-to-date going into the print so the pop wasn't a short-covering rally.

Persons: Wolfspeed, Roth MKM, Canaccord Genuity, Morgan Stanley Organizations: Wolfspeed Inc, Devices Inc, AMD, Carbide, JPMorgan, Citi, Deutsche Bank, WOLF, Management, Nvidia, supercomputing

☆ Stocks making the biggest moves premarket: JetBlue, Pinterest, Chewy, Caterpillar and more
▼ + stars: | 2023-10-31 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

This was higher than the $1.58 in earnings per share on $1.48 billion in revenue that analysts surveyed by FactSet had been expecting. Chewy — The pet food seller added 4% in premarket trading after Morgan Stanley upgraded the stock to overweight from equal weight. Chegg's third-quarter earnings came in at 18 cents per share, excluding items, higher than the 17 cents per share expected by analysts polled by LSEG. BP — Shares of the oil company slid 4% after the company missed analysts' estimates for its third-quarter earnings . XPO — The freight transportation company added 1.7% after announcing stronger-than-expected third-quarter earnings.

Persons: FactSet, Pinterest, Chewy, Morgan Stanley, Lauren Schenk, Caterpillar, LSEG, Tesla, XPO, Jefferies, AutoNation, Rajat Gupta, Wells, Ferguson, MoffettNathanson, Alex Harring, Jesse Pound, Samantha Subin Organizations: Arista Networks, Arista, Revenue, Global, Anheuser, Busch, LSEG, Caterpillar — Investors, JetBlue, BP —, BP, JPMorgan, Bank of America Locations: U.S, Wells Fargo

☆ Stocks making the biggest moves midday: Pinterest, Caterpillar, JetBlue, Chegg and more
▼ + stars: | 2023-10-31 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Pinterest — Shares of the image-sharing social media platform soared 19% Tuesday, a day after the firm's third-quarter earnings report beat expectations for earnings and revenue. Pinterest also eased concerns over potential ad revenue loss due to the Israel-Hamas war, saying some of the advertisers that had initially paused spending have already returned. Caterpillar said in its earnings presentation that revenue in the fourth quarter would be just "slightly" above the same quarter a year prior. JetBlue lost 39 cents per share, excluding items, on $2.35 billion of revenue, while analysts polled by LSEG expected a loss of 25 cents per share on $2.38 billion of revenue. This was higher than the $1.58 in earnings per share on $1.48 billion in revenue that analysts had forecast, according to FactSet.

Persons: Pinterest, Busch, Jet Blue, LSEG, Wolfspeed, Chegg, Morgan Stanley, Baird, SoFi, Roku, MoffettNathanson, — CNBC's Pia Singh, Yun Li, Hakyung Kim, Lisa Kailai Han, Brian Evans, Jesse Pound Organizations: Anheuser, Busch, LSEG, Revenue, Caterpillar, JetBlue —, Jet, JetBlue, Spirit Airlines, Arista Networks, Arista, VF Corp, Vans, U.S, BP, ON, Asbury Automotive, JPMorgan Locations: Israel, LSEG, U.S

☆ Stocks making the biggest moves after hours: Pinterest, Wolfspeed, Arista Networks and more
▼ + stars: | 2023-10-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Arista Networks reported $1.83 in earnings per share, excluding items, on $1.51 billion in revenue. Analysts polled by FactSet had estimated $1.58 in earnings per share on $1.48 billion in revenue. The company posted a loss of 53 cents per share, while analysts called for 67 cents per share, per LSEG, formerly known as Refinitiv. Analysts called for $1.20 per share in earnings and revenue of $5.02 billion, per FactSet. The company also gave fourth-quarter revenue guidance ranging between $442 million and $462 million, while analysts called for $451.7 million.

Persons: FactSet, FactSet's, Tenet, Pinterest, LSEG, Darla Mercado, Scott Schnipper Organizations: Arista Networks, Lattice Semiconductor, Revenue, Tenet

☆ Wolfspeed jumps on upbeat quarterly forecast
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

That facility, which started generating revenue at the end of Wolfspeed's fiscal 2023, contributed $4 million to its third-quarter revenue. The company said it expects second-quarter revenue from continuing operations of between $192 million and $222 million. Net loss widened to $3.22 per share from 21 cents per share a year earlier. Its quarterly revenue of $197.4 million missed analyst expectations of $207.7 million. Reporting by Zaheer Kachwala and Chavi Mehta in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Wolfspeed, Gregg Lowe, Piper Sandler, Zaheer Kachwala, Chavi Mehta, Anil D'Silva Organizations: Thomson Locations: New York, Mohawk, Bengaluru

☆ Stocks making the biggest premarket moves: Walmart, Adobe, Cisco, Hawaiian Electric and more
▼ + stars: | 2023-08-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves in premarket trading:Walmart — Shares added as much as 1% after the big-box retailer raised its full-year forecast and reported an earnings and revenue beat. Adobe — The software company added about 2% after Bank of America upgraded shares to buy from neutral. Hawaiian Electric — The utility company that oversees Maui Electric sank nearly 18% in premarket trading, continuing its slide over concerns of its potential liability in Maui's wildfires. On Wednesday, the Wall Street Journal reported Hawaiian Electric is in talks with firms that specialize in restructuring. VinFast Auto — Shares of the electric vehicle start-up fell nearly 5% in premarket trading as VinFast's stock searches for its level after debuting earlier this week.

Persons: Adobe, Cuban's, Wolfspeed, —, Alex Harring, Jesse Pound, Michael Bloom Organizations: Walmart, Refinitv . Revenue, Cisco Systems, postmarket, Refinitiv, Revenue, Adobe, Bank of America, Maui Electric, Wall Street Journal, CVS, California, Drug Company, Amazon Pharmacy, BAE Systems Locations: Williston , Vermont, California

☆ Stocks making the biggest moves midday: Walmart, CVS Health, Wolfspeed and more
▼ + stars: | 2023-08-17 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Cisco Systems — Shares of the computer networking giant added 4% after reporting earnings postmarket Wednesday that beat Wall Street's expectations. Adjusted earnings per share for its fiscal fourth quarter came in at $1.14, topping the $1.06 expected from analysts polled by Refinitiv. Revenue was $15.2 billion, compared with the $15.05 billion expected. The company reported adjusted earnings of $1.84 a share, ahead of the $1.71 expected by analysts polled by Refinitiv. Wolfspeed — Shares of the semiconductor developer dropped 16% following the company's earnings report after the bell Wednesday.

Persons: Mark Cuban's, Rosenblatt, Ball, Adyen, Wolfspeed, América, MSCI rebalance, —, Jesse Pound, Tanaya Macheel, Alex Harring, Samantha Subin, Michelle Fox Theobald Organizations: Cisco Systems —, Refinitiv, Revenue, Walmart, Refinitiv . Revenue, Street Journal, CVS, Blue, California, CVS Caremark, Amazon Pharmacy, FactSet . Investment, BAE Systems, Nasdaq, VinFast, Citi

☆ Three-Stock Lunch: CHK, CSCO & WOLF
▼ + stars: | 2023-08-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: CHK, CSCO & WOLFDanielle Shay, Simpler Trading VP of options, joins ‘Power Lunch’ to discuss three stocks: Chesapeake Energy, CISCO and Wolfspeed.

Persons: WOLF Danielle Shay Organizations: Chesapeake Energy, CISCO

NEW YORK, Aug 17 (Reuters) - Wolfspeed Inc (WOLF.N) shares plunged by nearly 21% on Thursday after analysts slashed price targets and sounded a cautious note about the chip maker's profit trends after its disappointing results. At least six brokerages cut their price targets for Wolfspeed shares after the company predicted a larger-than-expected quarterly loss after the market closed on Wednesday. Bank of America, which rates the stock "underperform," cut its price objective on the stock to $49 from $56. Wolfspeed shares were down 16.7% to $44.31 in afternoon trading. Reporting by Chibuike Oguh in New York; editing by Lewis Krauskopf and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Vivek Arya, Wolfspeed, Chibuike Oguh, Lewis Krauskopf, Deepa Babington Organizations: Wolfspeed, Bank of America, Thomson Locations: Mohawk, New York

☆ Chip firm Wolfspeed's shares tank on disappointing forecast
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

Its shares fell 14% in extended trading on Wednesday, after the company also forecast quarterly revenue below market estimates. It expects adjusted loss per share to be between 60 cents and 75 cents in the first quarter, compared with analysts' estimate of a 29-cent loss, according to Refinitiv data. The midpoint of its quarterly revenue forecast of $220 million to $240 million was also below expectations of $233.2 million. But "it will be the second half of calendar year 2024 before we see $100 million of quarterly revenue from the fab that the 20% utilization would represent." The company's quarterly adjusted loss per share was 42 cents, compared with a 20-cent loss estimate.

Persons: Wolfspeed, Neill Reynolds, Zaheer Kachwala, Shilpi Majumdar Organizations: Thomson Locations: Siler City, Durham , North Carolina, Mohawk Valley, Bengaluru

☆ Stocks making the biggest moves after hours: Cisco Systems, Synopsys, Wolfspeed and more
▼ + stars: | 2023-08-16 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Cisco Systems — Shares of the computer networking giant gained about 2.5% after posting fiscal fourth-quarter earnings that beat Wall Street's expectations. The company posted adjusted earnings of $1.14 per share, while analysts had forecast $1.06 per share, according to Refinitiv. Synopsys — The stock advanced 2.3% after the electronic design automation company beat fiscal third-quarter earnings expectations. Synopsys reported adjusted earnings of $2.88 per share, which was 14 cents per share higher than analysts' expectations, according to Refinitiv. Wolfspeed reported $236 million in revenue, however, surpassing analysts' expectations of $223 million, according to Refinitiv.

Persons: Synopsys, Sassine Ghazi, Amcor, VinFast Organizations: Cisco Systems —, Revenue, Wednesday, FactSet, Hawaiian Electric Industries, Electric, Street Locations: Refinitiv, California

☆ Stock futures are little changed Wednesday night: Live updates
▼ + stars: | 2023-08-16 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange on August 16, 2023 in New York City. Stock futures were near flat on Wednesday night as investors digested the Federal Reserve's latest commentary that future rate hikes are not out of the picture. Futures tied to the Dow Jones Industrial Average added 20 points, or 0.06%. S&P 500 futures traded near the flat line, while Nasdaq 100 futures inched lower by 0.07%. Wolfspeed plunged 14% following the company's fiscal fourth-quarter earnings report, which missed expectations on the bottom line.

Persons: Wolfspeed, Sam Stovall Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Computer, Cisco Systems, Dow, CFRA, Walmart, Ross, Applied, Keysight Technologies, Traders Locations: New York City

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