My high 10 issues to observe Tuesday, Could 2
1. DuPont (DD) delivers a first-quarter earnings beat Tuesday, with adjusted earnings-per-share (EPS) of 84 cents, in contrast with analysts’ forecasts of 80 cents per share. However the supplies big minimize its full-year income forecast, sending shares practically 5% decrease in premarket buying and selling. DuPont additionally says it is agreed to purchase Spectrum Plastics Group from AEA Traders for $1.75 billion, in a deal that ought to be instantly accretive.
2. Membership holding Morgan Stanley (MS) is planning to chop 3,000 jobs within the financial institution’s second spherical of layoffs in six months, Reuters reported Monday.
3. Tesla (TSLA) raises prices on some fashions of its electrical automobiles within the U.S., China, Japan and Canada. The information come after several rounds of price cuts earlier this yr.
4. Citi calls SoFi Technologies‘ (SOFI) post-earnings sell-off “unwarranted,” whereas reiterating a purchase ranking and $10-per-share value goal. In the meantime, Wedbush downgrades SOFI to impartial from outperform and lowers its value goal to $5 per share, from $8.
5. TD Cowen raises its value goal on well being insurer Humana (HUM) to $616 per share, from $581, whereas reiterating an outperform ranking. The Membership holding final week delivered a first-quarter earnings beat and raised its steerage.
6. Uber Technologies (UBER) studies a first-quarter revenue beat of $8.82 billion, forward of analysts’ forecasts for $8.72 billion, sending the inventory hovering by practically 10% in premarket buying and selling. The corporate studies an EPS lack of 8 cents, in contrast with expectations for a 9 cent-per-share loss, whereas guiding for gross bookings of $33 billion to $34 billion within the second quarter.
7. BP studies stronger-than-expected first-quarter income on Tuesday, with its underlying alternative price revenue coming in at $4.96 billion on the again of robust oil-and-gas buying and selling. The British oil main expects to ship share buybacks totaling $4 billion for the yr, on the decrease finish of its capital expenditure vary of $14 billion to $18 billion. Shares of BP had been down roughly 5% in premarket buying and selling.
8. Morgan Stanley raises its value goal on Exxon Mobil (XOM) to $122 per share, from $118, whereas reiterating an chubby ranking on the inventory. The financial institution cites the U.S. oil main’s record first-quarter profit, which it reported final Friday.
9. Financial institution of America raises its value goal on Brinker International (EAT) to $33 per share, from $29, reflecting the next market a number of. However the agency maintains its underperform, or promote, ranking on EAT inventory.
10. The CEO of International Business Machines Corp. (IBM), Arvind Krishna, mentioned the corporate plans to pause hiring for back-office roles that may very well be changed by synthetic intelligence (AI) within the coming years. “I might simply see 30% [roughly 7,800 jobs] of that getting changed by AI and automation over a five-year interval,” Krishna told Bloomberg.
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