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Analyst Alex Henderson reiterated his buy rating for the cybersecurity firm but lowered his price target to $375 from $425. JPMorgan analyst Kenneth Worthington attributed a higher assumption for total crypto market cap as one reason for his price target raise. "We see the cryptoecosystem in the midst of a material participation rally, benefitting Coinbase revenue generation near term," the analyst wrote. Analyst Eric Joseph's December 2025 price target of $8 implies a 51% decline ahead for the stock. He also maintained his $725 price target, which implies upside of 15.6% from Monday's close.
Persons: Oppenheimer, Needham, Alex Henderson, CrowdStrike, Henderson, Lisa Kailai Han, Keefe, Bruyette, Meyer Shields, Shields, — Lisa Kailai Han, Kenneth Worthington, JPMorgan downgrades, Eric Joseph's, Joseph, Chipmaker, Simon Coles, Coles, Jason Helfstein, NFLX, Fred Imbert Organizations: CNBC, Barclays, Netflix, Security, Aon, JPMorgan, Sanofi Locations: Woods, Coinbase, China, Monday's
F5 forecasts quarterly results above estimates, shares jump
  + stars: | 2024-07-29 | by ( ) www.cnbc.com   time to read: +1 min
Cybersecurity and cloud services company F5 forecast fourth-quarter revenue and profit above Wall Street estimates on Monday, expecting resilient spending by businesses and sending its shares more than 13% higher in extended trading. The Seattle, Washington-based company expects revenue between $720 million and $740 million for the fourth quarter, compared with analysts' average estimate of $717.4 million, according to LSEG data. The company forecast annual revenue towards the top end of its prior expectations, at about $2.8 billion, or roughly flat from last year, compared with estimates of $2.78 billion. F5 also raised its adjusted EPS growth forecast for the year to nearly 12% from its prior forecast for growth of 7% to 9%. Revenue for the third quarter ended June 30 came in at $695 million, compared with estimates of $686.1 million.
Organizations: Wall, Companies, Revenue Locations: Seattle, Washington
In June, the financial services company WalletHub ranked the 50 states and DC across three categories: economic activity, economic health, and innovation potential. The Economic Policy Institute pointed to low minimum wages and unionization rates in Southern states as two factors keeping pay down. Of course, workers in some Southern states earn less than others. Using US Bureau of Economic Analysis and Bureau of Labor Statistics data, the analysis highlighted the average annual wages across US states as of 2022. Only two Southern states — Louisiana and West Virginia — were among the eight US states that saw their populations decline between 2022 and 2023.
Persons: , Jacob Funk Kirkegaard, Chandra Childers, it's, West Virginia — Organizations: Service, West Virginia —, of Columbia, WalletHub, Business, South :, Workers, Economic Policy Institute, Southern, Economic, Economic Innovation, Peterson Institute for International Economics, of, of Labor Statistics, Institute, Texans, Dallas Fed Locations: Southern, Delaware , Maryland, Virginia, West, South, South : Mississippi, West Virginia , Arkansas , Louisiana, Kentucky, West Virginia , Arkansas , Alabama, South Carolina, Houston, Dallas, Miami, Nashville, Midwest, Mississippi, Hawaii, Texas, North Carolina, Georgia, South : Texas, Florida, North Carolina , Georgia, Tennessee, — Louisiana, West Virginia
The US President endorsed his current vice president, and many prominent Democrats, including Barack Obama, have followed his lead. Money has been pouring into Harris's campaign, and the vice president has already begun campaigning against former president Donald Trump. With Vance by his side, Trump has been trying to woo Silicon Valley away from Biden. Notably, the vice president hasn't taken a strong stance on cryptocurrency, but some expect her to become more pro-crypto than Biden. Meanwhile, with support from pro-crypto running mate JD Vance, Trump has announced he plans to be the first "crypto president."
Persons: , Kamala Harris, Harris, Joe Biden's, Barack Obama, Donald Trump, Sheryl Sandberg, Trump, JD Vance, David Sacks, Peter Thiel, Vance, Thiel, Elon Musk, Aaron Levie, techies, Sean Parker, Tony West, Kamala, she's, Ron Conway, Chiente Hsu, Biden, She's, Hsu, Reed Hastings, Levie, hasn't, Nigel Green Organizations: Service, Democratic, Business, PAC, Politico, VC, Biden, Facebook, Big Tech, Biden Administration, Democratic Party, deVere Group Locations: Silicon, California, Oakland, Bay, Harris, FTX
Ford posted adjusted earnings per share of 47 cents compared to the consensus forecast of 68 cents, according to LSEG. Edwards also reported second-quarter adjusted earnings of 70 cents a share, a penny above expectations, per LSEG. Honeywell — Shares moved more than 4% lower after the industrial giant's full-year outlook missed analysts' expectations. According to LSEG, analysts were expecting earnings to come in at $2.20 per share on $15.62 billion in revenue. Northrop Grumman — The defense stock climbed more than 5% after the company beat second-quarter earnings expectations.
Persons: Ford, Molina, FactSet, Edwards Lifesciences, Edwards, CJ Desai, LSEG, RTX, AbbVie, Northrop Grumman, , Alex Harring, Yun Li, Pia Singh, Hakyung Kim, Jesse Pound Organizations: Ford, Viking Therapeutics, U.S . Army . American Airlines, American Airlines, Honeywell —, Southwest Airlines —, Southwest, Citi, Hasbro, Revenue, Machines, Business Machines, Nasdaq
Gen Z is earning a reputation as the sober-curious generation that prioritizes their health, well-being, and authenticity when finding a partner. Ryan Mairs, 28, is a "Zillennial" on the cusp between millennials and Gen Z and has noticed the shift. Gen Z are drink less regularly than millennials, according to Statista data. AdvertisementA recent survey by DatingNews.com found that 65% of millennial and Gen Z respondents said they would prefer a "dry" first date. She's the founder of the sober dating platform Club Pillar, launching this summer.
Persons: , Z, Gen Zers, Ryan Mairs, He's, Mairs, it's, Gen, DatingNews.com, Kate Daly, Daly, Justine Benanty, Zers, they're, Benanty, he's, Jessie Urvater, Urvater, Jessie Urvater Urvater, that's, they've Organizations: Service, Business Locations: California
Southwest reported 58 cents in adjusted earnings per share on $7.35 billion of revenue. Analysts surveyed by LSEG were looking for a profit of 51 cents per share on $7.32 billion in revenue. RTX reported $1.41 earnings per share, ex-items, compared to analysts' estimate of $1.30 per share, according to LSEG. KLA reported adjusted earnings of $6.60 per share, higher than analysts' expectations of $6.15 per share, according to LSEG. Ford reported adjusted earnings per share of 47 cents, significantly less than the consensus forecast of 68 cents, per LSEG.
Persons: oversupply, overshadowing, AbbVie, Dow, LSEG, Northrop Grumman, Dr Pepper, ServiceNow, CJ Desai, Molina, FactSet, Edwards, Ford, , Yun Li, Jesse Pound, Christina Cheddar Berk, Fred Imbert Organizations: Airlines —, American Airlines, Honeywell —, Southwest Airlines —, Hasbro, IBM, Northrop, LSEG, Nasdaq, KLA Corporation, U.S . Army, Molina Healthcare, Technology, Ford, Viking Therapeutics Locations: LSEG
Tesla : The electric vehicle maker missed expectations on earnings per share (EPS) in the second quarter, and the stock dropped 12%. CNBC's Jim Cramer praised Tesla CEO Elon Musk's post-earnings conference call. "It was a manifesto of what he's thinking about long term," Cramer added. Dow stock Visa dropped more than 3%. Cramer said GE Vernova does not talk up its natural gas business because it wants to be known as clean energy.
Persons: Jim Cramer's, CNBC's Jim Cramer, Elon Musk's, Cramer, there's, Haviv Ilan Organizations: CNBC, Club, Dow, Visa, GE, Texas Locations: U.S
Deutsche Bank AG is a German multinational investment bank and financial services company headquartered in Frankfurt. Deutsche Bank on Wednesday snapped a 15-quarter profit streak with a narrower-than-expected loss, as it made a provision for an ongoing lawsuit over its Postbank division. The long-running lawsuit by investors alleges Deutsche Bank underpaid to take over the retail banking giant in 2010. Other highlights included:Profit before tax excluding the Postbank provision was 1.7 billion euros, up from 1.4 billion euros in the second quarter of 2023. Provision for credit losses was 476 million euros, up from 401 million euros a year ago.
Persons: Deutsche Bank CEO Christian Sewing, James von Moltke, CNBC's Caroline Roth, that's, Von Moltke, we'd, Italy's Organizations: Deutsche Bank, United Kingdom . Deutsche Bank AG, Deutsche Bank CEO Christian, Spain's Santander Locations: City of London, London, United Kingdom, German, Frankfurt
These names must offer a dividend yield of at least 3%. The oil and gas company is rated buy or overweight by 83.4% of the analysts covering it, and offers a dividend yield of 4.2%. The stock is up close to 18% this year, and offers a 3% dividend yield. Nearly 74% of analysts rate Patterson-UTI buy or overweight, and consensus price targets suggest 43% upside. Shares are off nearly 8% in 2024, and the stock has a dividend yield of 3.2%.
Persons: Russell, Roth MKM, Piper Sandler, Luke Lemoine, Patterson, Stephen Gengaro, , Fred Imbert Organizations: Investors, Big Tech, Nvidia, Meta, Nasdaq, Federal, CNBC, New York Stock Exchange, Wall, Oil, Gas, Northern Oil's, SM Energy, Xcel, Northern Oil, Energy Solutions, Street, Atlas Energy, UTI Energy Locations: Uinta, Xcel Resources
Goldman Sachs initiates Talos Energy as buy Goldman said the energy company has a "strong oil mix and free cash flow." Goldman Sachs downgrades Lennar to neutral from buy Goldman downgraded the homebuilder stock mainly on valuation. Goldman Sachs initiates Webtoon as buy Goldman said it's bullish on shares of the digital storytelling company. TD Cowen initiates Berkshire Hathaway as hold TD Cowen said it likes the stock but valuation is full right now. " "We upgrade CHRW to Buy from Underperform and raise our PO to $99 from $76, on 22.5x our 2025e EPS."
Persons: Wells, Piper Sandler, Piper, Goldman Sachs, Goldman, Guggenheim, CrowdStrike, Lennar, it's, TD Cowen, Berkshire Hathaway, Raymond James downgrades Estee Lauder, Raymond James, Fitch, JMP, it's bullish, Jefferies, Baird, Henry Schein, Bernstein, Stifel, BURL, Morgan Stanley, Robinson, Oppenheimer, Coinbase's Organizations: Apple, Nvidia, Energy, Talos Energy, Guggenheim, Webtoon Entertainment, Inc, JPMorgan, Abercrombie, Citi, Tamboran Resources, Resources, Nvidia Citi, Amazon, ramping, Airlines, AAL, opp, Jefferies, Genomics, Micron Citi, MU, Samsung, " Bank of America, Underperform Locations: Berkshire, China, U.S, Wells Fargo, Burlington, 3Q24
Plug Power – Shares of the green energy company plummeted 13%, on pace for its fourth-straight losing year. Comerica – Shares tumbled nearly 11% after the bank posted second-quarter financial results that reflected a decrease in net interest income from the prior-year quarter. American Express posted revenue of $16.33 billion, which is below the $16.59 billion expected from analysts polled by LSEG. In terms of earnings, the company posted $3.49 per share on an adjusted basis for the period, which is higher than the $3.24 per share analysts expected. The company posted $5.83 billion in revenue, missing the $5.95 billion analysts polled by FactSet were expecting.
Persons: FactSet, Curtis Farmer, LSEG, SLB, W.R, Morgan Stanley, Halliburton –, Huntington Bancshares, Huntington, CNBC's Hakyung Kim, Pia Singh Organizations: Microsoft, SentinelOne, Palo Alto Networks, Comerica –, Bloomberg News, American Express, LSEG, LSEG . Revenue, Arm Holdings, Halliburton Locations: Palo, Berkley
The S & P 500 has dropped nearly 2% for the week, putting the broad-market index on pace for its worst weekly performance since April. This market shift has pushed some S & P 500 stocks into overbought territory despite the index's decline. Against this backdrop, CNBC Pro screened for the most overbought and oversold names in the S & P 500 based on their 14-day relative strength index, or RSI. Take a look at some of the overbought names: Ford Motor made the overbought list, with the stock scoring an RSI of about 83.2. Other overbought stocks include S & P Global and Republic Services.
Persons: Russell, they've, Goldman Sachs, Pizza, Domino's, Charles Schwab, Wall Organizations: Nasdaq, Dow, Federal, CNBC Pro, Ford, Super Duty, Gen, Analysts, P Global, Republic Services, Walgreens Boots Alliance, Nike
Here are Friday's biggest calls on Wall Street: UBS upgrades Accenture to buy from neutral UBS said the IT services company has AI optionality. UBS upgrades Wolverine World Wide to buy from neutral UBS said it sees sales growth and margin upside for the footwear manufacturer. JPMorgan reiterates Netflix as overweight JPMorgan said it's sticking with its overweight on Netflix following Thursday's earnings report. Bank of America reiterates Amazon as buy Bank of America said it's sticking with its buy rating following Amazon's Prime Day. UBS upgrades Ameren to buy from neutral UBS upgraded the electric services company and said regulatory risks are "overly discounted."
Persons: Morgan Stanley, Oppenheimer, William Blair, it's, Needham, Coinbase, Wedbush, it's bullish, Barclays downgrades Molson Coors, Cantor Fitzgerald, Cantor, Evercore, JPMorgan, Buck, Melius Organizations: UBS, Accenture, JPMorgan, Netflix, Revenue, Bank of America, 3Q, Nvidia, Meta, NASDAQ, Trump, Vance, Big Tech, Choice, Barclays downgrades, Barclays, TAP, Apple, Services, Broadcom, Broadcom's, Consumer, Hasbro Locations: China, Coinbase
Others responded with intense distaste, especially once the memo went viral on social media. "I support Trump. I suggest buying one that shows you support Trump," he added in his email, which a recipient screenshotted and posted to Reddit. Those two sentences appear to have been removed from the version Sticker Mule posted to social media. The memo prompted more than 30,000 comments across social media platforms, and hundreds of reaction videos on TikTok.
Persons: Anthony Constantino, Donald Trump, Trump, Mule, Steven Collis, Collis, Constantino, Biden Organizations: The University of Texas, Austin School of Law, CNBC, Trump Locations: Amsterdam , New York, U.S
Analysts polled by FactSet were expecting $3.75 per share on revenue of $9.61 billion. The company also authorized a $4 billion share repurchase program Domino's Pizza – The pizza retail chain plummeted nearly 13% after posting mixed second-quarter results. Domino's reported per-share earnings of $4.03, which came in above the $3.68 analysts polled by LSEG had expected. Cintas posted earnings of $3.99 per share compared to the $3.79 per share that analysts polled by FactSet were expecting. Taiwan Semiconductor – U.S.-listed shares fell more than 2% despite the company posting better-than-expected earnings results for the second quarter.
Persons: Horton –, FactSet, Domino's, LSEG, Blackstone, Cintas, Kinder Morgan, Donald Trump, , Lisa Kailai Han, Michelle Fox Organizations: Street Journal, Infosys –, United Airlines –, LSEG, Discover Financial, Warner Bros, Times, Alaska Air Group, Alaska Air, Taiwan Semiconductor – Locations: Taiwan
Elevance expects adjusted earnings of at least $37.20 for 2024, while analysts polled by FactSet called for $37.28 per share. Second-quarter adjusted earnings and revenue came in slightly ahead of estimates. Omnicom — Shares of the corporate communications company fell 8% despite beating revenue expectations for the second quarter. Omnicom posted adjusted earnings of $1.95 per share, which came out in line with analyst forecasts polled by FactSet. Johnson & Johnson reported adjusted earnings of $2.82 per share on $24.45 billion in revenue.
Persons: Biden, ASML, Elevance, FactSet, Charles Schwab —, Cowen, Charles Schwab's, Omnicom, Datadog, Jefferies, Johnson, Johnson —, LSEG, , Jesse Pound, Hakyung Kim, Samantha Subin, Lisa Kailai Han, Michelle Fox Organizations: Bloomberg News, Biden Administration, Nvidia, AMD, Taiwan Semiconductor Manufacturing, VanEck Semiconductor, Qualcomm, HSBC, Hunt Transport Services, Revenue, FactSet, Reuters, UnitedHealth, Johnson, . U.S, Bancorp, U.S . Bancorp, Corporation, UBS Locations: China, ., V.F
Here are Wednesday's biggest calls on Wall Street: Morgan Stanley reiterates Rivian as overweight Morgan Stanley raised its price target on Rivian to $17 per share from $13. UBS reiterates Apple as neutral UBS said it sees Apple results as "in-line" when the company reports on Aug. 1. UBS initiates Sweetgreen as buy UBS said the restaurant chain has "margin potential." Guggenheim reiterates Netflix as buy Guggenheim said it's sticking with its buy rating on Netflix heading into earnings Thursday. UBS reiterates Micron as buy UBS said it's sticking with its buy rating on shares of Micron.
Persons: Morgan Stanley, Rivian, Jefferies, Bernstein, TD Cowen downgrades Charles Schwab, Cowen, Schwab, it's, Morgan Stanley downgrades, TD Cowen, 2H24, Tesla, Oppenheimer downgrades Morgan Stanley, Oppenheimer, Guggenheim, Needham Organizations: VW, Susquehanna, Nvidia, AMD, UBS, Apple, Chevron, bbl, Deutsche Bank, Deutsche, Valero, Mizuho, Citi, Hershey Citi, TD Cowen downgrades, Airlines, Barclays, MasterCard Citi, Mastercard, " Bank of America, Bank of America, Enterprise, NASDAQ, HSBC, Qualcomm, Netflix, Micron, Microsoft
Wolfe Research initiated coverage of Amazon with an outperform rating, calling for nearly 30% upside. 7:03 a.m.: Goldman Sachs increases Spotify price target Goldman Sachs thinks Spotify will surpass Wall Street's second-quarter earnings forecasts. The firm and increased its price target to $320 from $317 on shares while maintaining a neutral rating. The analyst upgraded the e-commerce stock to buy from neutral and raised his price target to $82 per share from $78. Analyst Alan Gould downgraded the forum social network stock to hold from buy and reiterated a $75 per share price target.
Persons: Wolfe, Goldman Sachs, Wall, Eric Sheridan, Brian Evans, Shopify, Brad Sills, Sills, — Brian Evans, Jefferies, Surinder Thind, Piper Sandler, Peter Keith, Keith, DLTR, Alan Gould, Gould, Shweta, Khajuria, Fred Imbert Organizations: CNBC, Wolfe Research, Bank of America, Spotify, Jefferies, EPAM, EPAM Systems, Trump, Biden, Democrat, Advertising, Cloud Computing, Health, Business, Amazon Logistics Locations: Reddit, Monday's
Bank of America — Shares added nearly 1% after the bank reported second-quarter financial results that topped expectations. Earnings came in at 83 cents a share, versus the 80 cents expected from analysts polled by LSEG. PNC Financial Services Group — Shares were flat after the regional bank posted second quarter revenue of $5.41 billion, which was in-line with an LSEG consensus estimate. Charles Schwab — The stock declined more than 3% on the back of its second quarter results. Adjusted earnings of 73 cents per share and revenue of $4.69 billion narrowly topped analysts' estimates for 72 cents earnings per share on $4.68 billion in revenue, according to FactSet.
Persons: Morgan Stanley, Piper Sandler, Joe Biden, Donald Trump, Charles Schwab, , Yun Li, Jesse Pound, Michelle Fox, Sarah Min, Fred Imbert Organizations: Wall, Bank of America, LSEG, Revenue, PNC Financial Services, Jefferies Locations: Reddit
Read previewA growth-heavy mutual fund has crushed its index in the last decade thanks to a remarkably simple investing strategy that most bottom-up portfolio managers would decry as heresy. The Hennessy Cornerstone Growth Fund (HFCGX) managed by Neil Hennessy, Ryan Kelley, and Josh Wein is in the top 3% of its category in the last 10 years, according to Morningstar. AdvertisementThis stock screen, which doesn't examine a company's management team or balance sheet, is "a little bit unorthodox," Wein acknowledged. A 4-part pathway to strong gainsThough unconventional, the four-part vetting process that serves as the backbone of the Hennessy Cornerstone Growth Fund is far from unproven. Although Wein doesn't select stocks like most other managers, he still highlighted five stocks that he's most excited about.
Persons: , Neil Hennessy, Ryan Kelley, Josh Wein, Morningstar, It's, Wein, " Wein, they're, Hennessy, They're Organizations: Service, Cornerstone Growth, Business, Hennessy Cornerstone Growth, Urban Outfitters, Emcor
Read previewLanding a corporate job at Apple is such a big deal for tech workers that some seek out career coaches to help get interviews. Apple is seen as a place where workers 'push boundaries'Apple positions itself as providing more than just a job. AdvertisementAs with its products, Apple has worked to brand itself as having a more playful and curious environment than its competitors. Related storiesEven Apple Park, the company's headquarters in Cupertino, California, has earned the nicknames "the spaceship" and "the ring" for its futuristic circular design. Another Apple hopeful posted that they were "getting desperate" for a job at the company and had applied for 60 jobs in one day.
Persons: , Marc Cenedella, Steve Jobs, Cenedella, They've, Apple, Ehsan Farkhondeh, Arianny Mercedes, they'd, Theresa Park, Mercedes, Dan Ives, Apple's, Drew Evans, Evans Organizations: Service, Apple, Business, Wedbush Securities, American Express, Employees, Spotify, Apple Intelligence Locations: Silicon, Cloud, Cupertino , California
Charles Schwab – The financial services giant slid more than 10% following its second quarter results. Earnings for the second quarter were 83 cents a share, topping the 80 cents expected from analysts polled by LSEG. UnitedHealth – The stock popped 6.5% after the health insurance giant posted second quarter results that came in better than expected. PNC Financial – The bank stock jumped 4.7% after stronger-than-expected earnings for the second quarter. Rio Tinto said that its Pilbara iron ore production in the second quarter came in 2% lower compared to the year-ago period.
Persons: Charles Schwab –, LSEG, Morgan Stanley, Jefferies, FactSet, , Sarah Min, Lisa Kailai Han, Pia Singh, Jesse Pound, Michelle Fox, Darla Mercado Organizations: Group, Match Group, Bank of America, LSEG . Revenue, Revenue, PNC Financial, PNC, Rio Tinto –, Rio Tinto, U.S, Home, Federal Reserve, Toll, Builders, . Semiconductor, Nvidia, Devices, Broadcom, VanEck Semiconductor Locations: Rio, Rio Tinto – The
On average, US homeowners pay $18,118 per year on hidden costs, according to Bankrate. Rising home prices and inflation have driven hidden costs up 26% in the last 4 years. These 5 states have the highest hidden homeownership costs. AdvertisementRapidly rising home prices and high mortgage rates already make buying a house hard enough in today's market. But consumers should be aware of yet another hurdle to homeownership: rising hidden costs.
Persons: Organizations: Service, Business
Usually, after a financial crisis, people spend less money and fewer new businesses launch. Welcome to the age of the side hustle, where Americans are increasingly devoted to finding extra money to spend. Here's why so many people have side hustles right now, and why economists say they're probably here to stay. For roughly half of Americans with side hustles, the extra money isn't for fun: It's a necessity, driven by financial uncertainty. $250 per month is "by no means enough to live on, [but] it's a nice amount of money," Rossman says.
Persons: Z, Kayla Bruun, Ted Rossman, Bankrate, Rossman, Bruun, Shonnita Leslie, Leslie, millennials, Gen Zers, It's, it's, Taylor, Nich Tremper Organizations: CNBC, Student, DoorDash Locations: U.S, millennials, America, Texas
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