Midday movers: Netflix, Super Micro fall; Paramount Global gains

Netflix (NFLX) bonds retain Outperform rating at Gimme Credit amid strong content ROI

On Tuesday, corporate bond research firm Gimme Credit maintained its Outperform recommendation on Netflix (NASDAQ: NFLX) bonds, specifically highlighting the 2030 notes, which are currently trading at a spread of +78 to the 5-year Treasury. The firm said the streaming giant's strategic focus on original content, supported by licensed material, is proving to be effective in driving revenue growth and subscriber engagement.

Netflix's investment in content, which amounts to $17 billion... More

American Express (AXP) PT Raised to $253 at RBC Capital

RBC Capital analyst Jon Arfstrom raised the price target on American Express (NYSE: AXP) to $253.00 (from $250.00) while maintaining a Outperform rating.

The analyst comments "We are recapping 1Q results. This was a good quarter with revenues that met expectations, controlled core expenses, and... More

SLB (SLB) PT Lowered to $62 at BofA Securities

BofA Securities analyst Chase Mulvehill lowered the price target on SLB (NYSE: SLB) to $62.00 (from $63.00) while maintaining a Buy rating.

The analyst comments "Were tweaking our 2024E / 25E Adj. EBITDA by -1% to $9.25 / $10.33bn to allow for 1) modestly weaker NAM in 2024E, and 2)... More

SLB (SLB) PT Lowered to $64 at BMO Capital

BMO Capital analyst Philip Jungwirth lowered the price target on SLB (NYSE: SLB) to $64.00 (from $66.00) while maintaining a Outperform rating.

The analyst comments "We viewed SLB's 1Q24 results as in line, while 2Q24 guidance implies ~$0.82-0.84 EPS, near consensus. While a quarterly... More

SLB (SLB) PT Lowered to $64 at JPMorgan

JPMorgan analyst Arun Jayaram lowered the price target on SLB (NYSE: SLB) to $64.00 (from $65.00) while maintaining a Overweight rating.

The analyst comments "SLBs 1Q24 results and 2Q24 guide generally matched consensus expectations yet the shares slid 2.1%, lagging its OSX and Large Cap OFS peers by 287bps and 332bps, respectively. We think the culprit was the slight EBITDA margin miss (23.6% vs. JPMe of 23.7%) as D&I and Well Construction margins were light. In particular, we sensed buyside disappointment on D&I... More

Procter & Gamble (PG) PT Raised to $182 at Jefferies

Jefferies analyst Kaumil Gajrawala raised the price target on Procter & Gamble (NYSE: PG) to $182.00 (from $175.00) while maintaining a Buy rating.

The analyst comments "F3Q EPS beat expectations, growing +11%. The solid delivery comes despite volatile macro conditions and a one-off retailer... More

SLB (SLB) PT Lowered to $65 at Citi

Citi analyst Scott Gruber lowered the price target on SLB (NYSE: SLB) to $65.00 (from $70.00) while maintaining a Buy rating.

The analyst comments "SLB slumped on Friday due to a disbelief that full year guidance was still reasonable, despite management reiterating their mid-teens EBITDA... More

American Express (AXP) PT Raised to $260 at Deutsche Bank

Deutsche Bank analyst Mark DeVries raised the price target on American Express (NYSE: AXP) to $260.00 (from $240.00) while maintaining a Buy rating.

The analyst comments "AXP reported a 1Q24 headline beat driven by lower-than-expected opex and provision, with revenues in-line with consensus, though at the high end of the 9%- 11% guidance range.... More

Netflix (NFLX) raised to Buy at Needham & Company on revenue upside

On Friday, Netflix (NASDAQ: NFLX) received an upgrade to 'Buy' from 'Hold' by Needham, with the firm setting a new price target of $700 for the streaming giant's stock. The upgrade follows Netflix's first-quarter earnings release, which showcased a revenue of $9.4 billion, marking a 15% year-over-year increase and surpassing estimates by 1%. The company's GAAP earnings per share (EPS) also rose significantly by 83% year-over-year to $5.28,... More