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PHM

RBC Capital analyst Mike Dahl has maintained a 'Sector Perform' rating on PulteGroup (NYSE:PHM) and increased the price target from $103 to $106.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 4:57 pm

PCH

RBC Capital analyst Matthew McKellar has reiterated a 'Sector Perform' rating on PotlatchDeltic (NASDAQ:PCH) and maintained a price target of $48.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 4:55 pm

UMC

United Microelectronics Corp (UMC) reported a decline in Q4 FY23 revenue by 19% YoY to $1.79 billion, surpassing the consensus of $1.70 billion. Earnings per ADS were $0.17, beating the consensus of $0.15. The company saw growth in 22 and 28nm wafer revenue, which now represents 36% of total wafer sales. However, gross margin fell by 1,050 basis points to 32.4% due to lower utilization and weak demand. Co-President Jason Wang is optimistic about a mild increase in wafer demand for Q1 2024, despite cautious inventory management by customers. UMC expects Q1 wafer shipments to rise by 2%-3%, ASP in USD to decrease by 5%, and capacity utilization in the low 60% range. The company plans a 2024 capex of $3.3 billion. UMC shares dropped by 1.28% to $7.73.

Portfolio Pulse from Anusuya Lahiri

January 31, 2024 | 4:54 pm

PII

RBC Capital analyst Sabahat Khan has maintained a 'Sector Perform' rating on Polaris (NYSE:PII) and increased the price target from $100 to $103.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 4:53 pm

PSX

Phillips 66 (NYSE:PSX) shares rose after reporting Q4 results surpassing expectations with revenue of $38.74 billion and adjusted EPS of $3.09, beating consensus estimates. The company saw varied performance across segments, with Midstream and Chemicals showing slight gains, while Refining and Marketing and Specialties segments reported lower income compared to Q3. Phillips 66 reported $2.2 billion in operating cash flow, significant capital expenditures, share repurchases, and dividends. The company is on track with its cost and capital reduction targets and plans to divest non-core assets to generate over $3 billion. PSX shares increased by 1.04% to $143.89.

Portfolio Pulse from Lekha Gupta

January 31, 2024 | 4:51 pm

TMO

Thermo Fisher Scientific reported a 7% decline in Q4 organic sales, leading to its shares trading lower.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 4:47 pm

MSFT

RBC Capital analyst Rishi Jaluria has maintained an Outperform rating on Microsoft (NASDAQ:MSFT) and increased the price target from $415 to $450, indicating a positive outlook on the company's stock performance.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 4:43 pm

GM

General Motors (GM) shares are experiencing an uptrend due to positive momentum from Tuesday's earnings report. Following the report, several analysts have increased their price targets for GM stock.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 4:41 pm

DHR

Danaher Corporation (NYSE:DHR) exceeded Q4 2023 earnings expectations with an adjusted EPS of $2.09, beating the consensus of $1.89. Sales fell 10% Y/Y to $6.4 billion, surpassing the consensus of $6.09 billion. The company will stop providing guidance for base business core revenue as the pandemic becomes endemic. For Q1 2024, Danaher anticipates a high-single-digit Y/Y decline in non-GAAP core revenue, and a low-single-digit decline for the full year 2024. Following the earnings report, Raymond James and RBC Capital raised their price targets for DHR, maintaining Outperform ratings. DHR shares dropped 1.6% to $241.10.

Portfolio Pulse from Avi Kapoor

January 31, 2024 | 4:39 pm

HII

Huntington Ingalls Industries has expanded its share repurchase program by $600 million, bringing the total authorization to $3.8 billion. The company has also extended the duration of the program from October 31, 2024, to December 31, 2028.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 4:31 pm