Fed meeting, Microsoft earns, BP dividend - what's moving markets

BofA Securities Reiterates Buy Rating on Meta Platforms Inc. (META), 'Top AI play in consumer Internet'

BofA Securities analyst Justin Post reiterated a Buy rating and $563.00 price target on Meta Platforms Inc. (NASDAQ: META).

The analyst comments "We see Meta as the top AI play in consumer Internet given: 1) Leading infrastructure and LLM capabilities w/ Llama 3.1, 2)... More

Meta Platforms Inc. (META) PT Raised to $615 at Oppenheimer

Oppenheimer analyst Jason Helfstein raised the price target on Meta Platforms Inc. (NASDAQ: META) to $615.00 (from $525.00) while maintaining a Outperform rating.

The analyst comments "Increasing target to $615 (was $525) or 24x '25E EPS a 13%/4% discount to peers/ NASDAQ. Stronger 2Q revenue and 3Q... More

Meta Platforms Inc. (META) PT Raised to $585 at Deutsche Bank

Deutsche Bank analyst Leo Horowitz raised the price target on Meta Platforms Inc. (NASDAQ: META) to $585.00 (from $525.00) while maintaining a Buy rating.

The analyst comments "Of course, AI will be leveraged to accelerate progress across many of these objectives, and therefore CapEx... More

Meta Platforms Inc. (META) PT Raised to $610 at JPMorgan

JPMorgan analyst Doug Anmuth raised the price target on Meta Platforms Inc. (NASDAQ: META) to $610.00 (from $480.00) while maintaining a Overweight rating.

The analyst comments "META shares traded up +7% post-close & we reiterate our Overweight rating, w/the company executing well near-term & we believe investing appropriately in critical L-T initiatives, notably AI. Healthy ad market trends supported strong 2Q results & have carried into 3Q, with/METAs 3Q revenue guide of +13%-20% (+15%-22%... More

Meta Platforms Inc. (META) PT Raised to $600 at Evercore ISI

Evercore ISI analyst Mark Mahaney raised the price target on Meta Platforms Inc. (NASDAQ: META) to $600.00 (from $550.00) while maintaining a Outperform rating.

The analyst comments "We reiterate our Outperform rating on META, raising our estimates and our PT from $550 to $600... More

Northland Reiterates Outperform Rating on AMD (AMD)

Northland analyst Gus Richard reiterated an Outperform rating and $175.00 price target on AMD (NASDAQ: AMD).

The analyst comments "AMD beat consensus by $0.01 on revenue upside primarily from AI, reaching revenue of over $1B vs our model of $900M. Client revenue was... More

Stifel Reiterates Buy Rating on AMD (AMD)

Stifel analyst Ruben Roy reiterated a Buy rating and $200.00 price target on AMD (NASDAQ: AMD).

The analyst comments "AMDs results and outlook were modestly above expectations with revenue exceeding the midpoint of management guidance on higher-than-expected data center, client and server processor sales.... More

AMD (AMD) PT Lowered to $180 at Cantor Fitzgerald

Cantor Fitzgerald analyst C.J. Muse lowered the price target on AMD (NASDAQ: AMD) to $180.00 (from $200.00) while maintaining a Overweight rating.

The analyst comments "Amidst investor fears of a slowdown in MI300 demand from Microsoft, AMD offered a better-than-feared report including a modest beat for the June Q, mixed outlook for the September Q (slightly better revs, worse EPS), and, very importantly, raised its outlook for MI300 revenues from >$4B+ to >$4.5B+. Specific to the MI300 and AI outlook, we... More

Procter & Gamble (PG) PT Raised to $164 at RBC Capital

RBC Capital analyst Nik Modi raised the price target on Procter & Gamble (NYSE: PG) to $164.00 (from $157.00) while maintaining a Sector Perform rating.

The analyst comments "Given relative outperformance into the quarter, we are not surprised by PGs sell-off post earnings, especially... More

AMD (AMD) PT Lowered to $156 at Truist Securities

Truist Securities analyst William Stein lowered the price target on AMD (NASDAQ: AMD) to $156.00 (from $162.00) while maintaining a Hold rating.

The analyst comments "Incrementally raising AI GPU guidance. AMD's beat Q2 consensus & guided Q3 mixed. The Datacenter & Client end market upsides will likely predominate... More

Pfizer (PFE) PT Raised to $34 at Goldman Sachs

Goldman Sachs analyst Chris Shibutani raised the price target on Pfizer (NYSE: PFE) to $34.00 (from $31.00) while maintaining a Buy rating.

The analyst comments "Relative outperformance on the day (+2% vs. flat XLV) appears warranted in our view given solid 2Q results... More

Bernstein SocGen Group Upgrades PayPal (PYPL) to Outperform - First Time in Nearly Three Years

Bernstein SocGen Group analyst Harshita Rawat upgraded PayPal (NASDAQ: PYPL) from Market Perform to Outperform with a price target of $78.00 (from $71.00).

The analyst comments "We are tactically upgrading PayPal to OP after almost 3 years. We are encouraged by improved transaction gross profit performance from... More

PayPal (PYPL) PT Raised to $72 at Evercore ISI

Evercore ISI analyst David Togut raised the price target on PayPal (NASDAQ: PYPL) to $72.00 (from $70.00) while maintaining a In Line rating.

The analyst comments "PYPL raised full year 2024 adjusted EPS growth guidance to the lowto-mid-teens versus prior estimate of mid to high single digits,... More

Global smartphone market: Android continues to lead recovery

The global smartphone market saw positive momentum in June 2024, with Android devices at the forefront of the recovery, according to UBS analysts.

The bank told investors in a note that total sell-through for smartphones in June reached 97.3 million units, marking a 6.2% year-over-year (YoY) increase and a 3.5% month-over-month (MoM) rise. This continues a trend of sequential YoY sell-through growth observed in April and May.

The U.S. market demonstrated significant improvement, says UBS, with sell-through... More

Apple's iPhone is 'ceding share in all markets except Europe': UBS

UBS analysts said in a note to clients this week that in the June quarter, Apple's (NASDAQ: AAPL) iPhone is losing market share in nearly all regions except Europe.

According to the latest UBS note, iPhone units were down approximately 1% during the quarter, despite the global smartphone market growing by 6% year-over-year.

"iPhone sell-through was up just 1% to 15.6 million in the month of June, leading to a small ~50 basis... More

Procter & Gamble (PG) shares slide as revenue misses analyst consensus estimate

(Updated - July 30, 2024 7:20 AM EDT)

Shares of Procter & Gamble (NYSE: PG) fell 2.6% premarket as the consumer goods giant reported a revenue miss in its fourth quarter despite posting a slight earnings per share (EPS) beat.

The company's Q4 EPS came in at $1.40, $0.03 above the analyst estimate of $1.37. However, revenue for the... More

Merck (MRK) tops earnings, revenue expectations but guidance mixed

(Updated - July 30, 2024 10:02 AM EDT)

Merck (NYSE: MRK) reported a robust second quarter, with adjusted earnings per share (EPS) of $2.28, surpassing analysts' predictions by $0.12. The pharmaceutical giant also exceeded revenue expectations, posting $16.11 billion against a $15.85 billion consensus.

However, the company's stock has fallen by more than 6% following the report.

The company's chairman and CEO, Robert Davis, attributed the strong quarterly performance to "excellent scientific, commercial and operational execution," highlighting the successful U.S. launch of WINREVAIR and positive European opinions for adults with pulmonary... More