Streetbeat News

Analyst Ratings

CMG

Keybanc analyst Eric Gonzalez maintains an Overweight rating on Chipotle Mexican Grill (NYSE:CMG) but lowers the price target from $2300 to $2200.

Portfolio Pulse from richadhand@benzinga.com

July 27, 2023 | 8:36 am

CNMD

Keybanc analyst Matthew Mishan maintains an Overweight rating on Conmed (NYSE:CNMD) and raises the price target from $131 to $141.

Portfolio Pulse from richadhand@benzinga.com

July 27, 2023 | 8:34 am

GOOG

GOOGL

MSFT

Gene Munster of Deepwater Asset Management believes Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) has a significant advantage over Microsoft Corp. (NASDAQ:MSFT) in the AI race due to its extensive search history data. Alphabet's stock surged 6% following Q2 results that beat analysts’ expectations, while Microsoft's stock slipped 4% after reporting slowing revenue in its Azure cloud business.

Portfolio Pulse from Benzinga Neuro

July 27, 2023 | 8:06 am

BA

BMY

F

GOOGL

MCD

The Federal Reserve has raised the federal funds rate by 0.25% to 5.25%-5.5%, the highest level since February 2001. This has led to a decline in overall investor sentiment, as indicated by the CNN Money Fear and Greed index. Despite this, the Dow Jones closed higher, recording its longest winning streak since 1987. Alphabet Inc. and The Boeing Company reported better-than-expected quarterly results, leading to a rise in their share prices. Investors are now awaiting earnings results from McDonald's Corporation, Ford Motor Company, and Bristol-Myers Squibb Company.

Portfolio Pulse from Lisa Levin

July 27, 2023 | 7:59 am

ASX

ASE Tech Holding Co (NYSE:ASX) reported Q2 earnings of $0.12 per share, beating the analyst consensus estimate of $0.09 by 27.78%. However, the company's quarterly sales of $4.44 billion missed the analyst consensus estimate of $4.50 billion by 1.33%. This represents a 53.44% decrease in earnings and an 18.64% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 7:15 am

HON

Honeywell International Inc. (NASDAQ:HON) is expected to report higher Q2 earnings at $2.21 per share, up from $2.1 per share a year ago. The company's revenue is projected to be $9.17 billion. Honeywell's shares fell 0.7% to close at $208.26 on Wednesday. Several analysts have recently adjusted their price targets for the company, with the most recent changes ranging from $213 to $242.

Portfolio Pulse from Lisa Levin

July 27, 2023 | 7:12 am

AAPL

META

Meta Platforms, Inc. (NASDAQ:META) reported an 11% YoY revenue increase in Q2, its first double-digit growth since Q4 2021. Net income rose by 16% to $7.8 billion. The company's Q3 guidance of $32 billion-$34.5 billion exceeded the consensus estimate of $28.29 billion. Analysts praised the results and the company's focus on efficiency growth. Meta's strong performance was attributed to robust advertising growth, potentially due to Twitter’s ad revenue decline.

Portfolio Pulse from Shanthi Rexaline

July 27, 2023 | 6:42 am

MT

ArcelorMittal has revised its FY23 global Ex-China apparent steel consumption growth forecast to +1%-2% from the previous +2%-3%. In the US, due to the impact of interest rate rises, steel consumption in 2023 is expected to decline by -2.0% to 0.0%, down from the previous guidance of +1.5% to +3.5%. In Europe, Brazil, CIS region, and India, the company also adjusted its steel consumption estimates.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 6:04 am

AAPL

Apple Inc.'s upcoming iPhone 15 Pro Max is expected to have a significantly higher price tag, potentially reaching up to $1,299, according to Barclays analyst Tim Long. The price increase is attributed to superior features such as an advanced Telephoto lens with periscope technology, space-grade titanium, and stacked battery technology. The Pro Max iPhones have not seen a price hike since they were first introduced in 2018.

Portfolio Pulse from Ananya Gairola

July 27, 2023 | 6:03 am

MT

ArcelorMittal's Q2 earnings per share (EPS) of $2.20 beat the analyst consensus estimate of $1.81 by 21.55%, but it's a 48.11% decrease from the same period last year. The company's quarterly sales of $18.61 billion missed the analyst consensus estimate of $19.25 billion by 3.32%, marking a 15.95% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 5:56 am