Oracle’s Strong Cloud Bookings Results Support Future Growth, Oppenheimer Says

/ / Technology /

Oracle’s (ORCL) “strong finish” to its fiscal 2024, with cloud bookings results exceeding investor expectations, supports future growth, Oppenheimer said in a note to clients Wednesday. The database management company reported late Tuesday Q4 remaining performance obligation, or RPO, rose 44% year over year to $98 billion, while Infrastructure as a Service, or IaaS grew by 42% year over year. Oppenheimer said it sees “Oracle as a long-term beneficiary of the software industry secular trends,” which include digital transformation, cloud computing and generative artificial intelligence. These trends are expected to drive “revenue growth and operating leverage for the company,” it added. Oracle, however, reported earnings per share and revenue that missed analysts’ expectations, likely raising concerns that the company’s fiscal 2025 guidance is “aggressive,” Oppenheimer said. The company guided its fiscal 2025 revenue to grow double digits and the growth rate to increase each quarter, as well as its IaaS […]

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CFRA Maintains Buy Opinion On Shares Of Broadcom Inc.

/ / Technology /

We up our 12-month target to $1,850 from $1,600 on a P/E of 30x our CY 25 EPS view, above historical rising AI and software exposure. We keep our FY 24 (Oct.) EPS at $49.16 and raise FY 25 to $60.00 from $56.90. AVGO posts Apr-Q EPS of $10.96 vs. $10.32, beating the $10.84 consensus. Sales rose 43% (+12% ex. VMware), with Infrastructure Software +175% and Semiconductor Solutions +6%. AI sales grew 280% ($3.1B in Apr-Q; +$11B now seen in FY 24) and is driving upside, while non-AI semiconductor sales appear to have bottomed out. Networking growth of 44% (53% of semi sales) is being led by momentum for its Ethernet switches (Tomahawk 5/Jericho 3) and higher customer silicon revenue. We think VMware integration is progressing ahead of schedule given sharply lower spending (seen at $1.3B exiting Q4 from $1.6B in Apr-Q/$2.3B in late ’23), streamlining SKUs (from over 8,000

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Boeing Jet Deliveries Limp Along, With China on Hold

/ / Industrials /

Boeing had another month of muted jet deliveries as it grappled with supplier issues, increased regularity scrutiny and its own efforts to improve quality. Deliveries to China also are on hold amid a Chinese review of the batteries that power the planes’ cockpit data recorder. The airplane maker delivered 24 jets in May, 19 of which were 737 MAXs. Boeing had hoped to be rolling out close to 40 planes a month by now before fallout from the Alaska Airlines door-plug blowout in January slowed production. Boeing booked four orders in the month, all for its 787-10 wide-body jet

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Moderna, Inc. (MRNA) Goldman Sachs 45th Annual Global Healthcare Conference (Transcript)

/ / Health Care /

Moderna, Inc. (NASDAQ:MRNA) Goldman Sachs 45th Annual Global Healthcare Conference June 10, 2024 1:20 PM ET Company Participants Stephen Hoge – President Conference Call Participants Salveen Richter – Goldman Sachs Salveen Richter Great. Good afternoon, everyone. Thank you so much for joining us. Really pleased to have Stephen Hoge, President of Moderna with us this morning. Stephen Hoge Thanks for having us. Question-and-Answer Session Q – Salveen Richter After having just announced some news today on the COVID-flu combo, perhaps before we get into that, some big-picture questions, Moderna has over 40 programs in development. And in the context of R&D spend management, what is your strategy for pipeline prioritization? Stephen Hoge Great question. So, well, thank you, first of all. It’s really exciting to be here, the first time in Miami with you too. So, first on the question of prioritization, as you know well, because you’ve followed us

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CFRA Maintains Buy Opinion On Shares Of Apple Inc.

/ / Technology /

AAPL held its annual WWDC today where it announced incremental new features across iOS and other operating systems, along with Apple Intelligence (AI) tolls it will roll out. We believe Siri received its biggest upgrade ever and comes integrated with free access to ChatGPT for users. AAPL also highlighted the benefits of overlaying AI with consumer data, providing a personal touch, and repeatedly stressing the importance of privacy, announcing its Private Cloud Compute platform (run on Apple servers). Apple Intelligence will be available initially on the iPhone 15 Pros, iPad/Macs with M1 and later, and iPhone 16 devices slated to roll out this fall. Although the event didn’t showcase any major surprises, we are impressed with AI integration across AAPL’s ecosystem (e.g., Siri, rewrite, summarization, Genmoji, image wand, etc.) and see the potential for developers to create disruptive apps in the years to come. Ultimately, that will allow support installed

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Apple Intelligence: A Guide to Apple’s AI-In-Everything Strategy — WSJ

/ / Technology /

By Joanna Stern CUPERTINO, Calif. — If I had a dollar for every time an executive said ” Apple Intelligence” at its developer’s conference on Monday, I’d have a steak dinner with all the trimmings. (So, yes, about 60 times.) After nearly two years of sitting out the generative-artificial-intelligence frenzy, Apple finally jumped in the deep end. The company is injecting AI tools throughout coming versions of its biggest platforms: iOS 18, iPadOS 18 and MacOS Sequoia. There’s a new and improved Siri you can even text with. There’s a new partnership with OpenAI that will bring ChatGPT into Apple apps. There are ways to generate new images and emojis on the fly. The company says we’ll start seeing the features this fall, but some of the more ambitious ones might not debut until 2025. So what was Apple’s strategy with all these updates? To show AI integrated into the

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Nike Unlikely to Regain Traction in Fiscal Q4 as No ‘Major Fireworks’ Expected, Wedbush Says

/ / Consumer Discretionary /

Nike (NKE) is unlikely to regain traction in fiscal Q4 as no “major fireworks” are expected when it reports quarterly results on June 27, Wedbush said in a note Friday. “Essentially, the company already gave some nuggets of guidance for FY25, and we wouldn’t expect them to change that outlook meaningfully,” analysts Tom Nikic and Matt Quigley wrote. The company’s stock may be in a “holding pattern” until Nike unveils new products in its pipeline, the note added. Nike is planning to hold an investor day in the fall this year after seven years and the last time they held it, their peers were performing “extremely well”, and the company was facing challenges from over-distribution of legacy styles, the note said. The analysts expect Nike to tell a “compelling” story this fall that will support its shares regaining momentum. Also, Adidas rolling out different Yeezy styles on their application will

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Broadcom Quarterly Results, Outlook May At Least Match Views Amid ‘Burgeoning’ AI Franchise, Oppenheimer Says

/ / Technology /

Broadcom’s (AVGO) latest quarterly results and guidance could at least match expectations driven by its “burgeoning” artificial intelligence franchise, Oppenheimer said in a note e-mailed Thursday. The chipmaker is scheduled to report its fiscal second-quarter results June 12. Oppenheimer projects earnings at $11.07 a share on sales of $12.26 billion. The results would mark an increase from the $10.32 and $8.73 billion reported a year earlier, respectively. The brokerage said the quarterly results and outlook for the current three-month period could be in line or better than forecasts. The semiconductor segment’s sales likely grew 5% year over year, with networking jumping 18%, led by custom compute AI application-specific integrated circuit, as well as the Tomahawk and Jericho switches and routers, Oppenheimer said. Broadcom owns the largest custom compute merchant franchise, aided by its relationship with Alphabet’s (GOOG, GOOGL) Google, according to the note. Order velocity is picking up at Google

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DocuSign Fiscal Q1 Earnings, Sales Rise; Fiscal Q2 Revenue Outlook Set — Shares Fall After Hours

/ / Technology /

DocuSign (DOCU) reported fiscal Q1 non-GAAP earnings late Thursday of $0.82 per diluted share, up from $0.72 a year earlier. Analysts polled by Capital IQ expected $0.79. Revenue for the quarter that ended April 30 was $709.6 million, up from $661.4 million a year earlier. Analysts surveyed by Capital IQ expected $707.4 million. The company expects fiscal Q2 revenue of $725 million to $729 million and full-year sales of $2.92 billion to $2.93 billion. Analysts polled by Capital IQ expect $726.7 million and $2.93 billion, respectively. Shares of the company traded nearly 4% lower in after-hours activity.

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DocuSign, Inc. (DOCU) Q1 2025 Earnings Call Transcript

/ / Technology /

DocuSign, Inc. (NASDAQ:DOCU) Q1 2025 Earnings Conference Call June 6, 2024 5:00 PM ET Company Participants Matt Bonistalli – Interim Head of IR Allan Thygesen – CEO Blake Grayson – CFO Conference Call Participants Jake Roberge – William Blair Tyler Radke – Citi Brent Thill – Jefferies Patrick Walravens – JMP Rishi Jaluria – RBC Capital Markets Josh Baer – Morgan Stanley Scott Berg – Needham Brad Sills – Bank of America Michael Turrin – Wells Fargo Arsenije Matovic – Wolfe Research Karl Keirstead – UBS Sonak Kolar – JPMorgan George Iwanyc – Oppenheimer Operator Good afternoon, ladies and gentlemen. Thank you for joining DocuSign’s First Quarter Fiscal Year 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. As a reminder, this conference call is being recorded and will be available for replay from the

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Sporting-Goods Companies Warm Up for Busy Summer to Move Past Inventory Woes

/ / Uncategorized /

Sportswear companies are moving to clear out leftover inventory to make room for new product lineups ahead of a summer packed with major sporting events, but analysts say any sales benefit will likely take time. With soccer’s European Championship in Germany and the Copa America in the U.S. coming up later this month, followed by the Paris Olympic Games between July and August, the likes of Nike, Adidas and Puma are expected to showcase new products and launch advertising campaigns. Brands typically launch specific collections during major sports competitions given that consumers tend to be willing to pay a premium for them, a boon for the sportswear companies, Bryan Garnier analyst Cedric Rossi said. Sports-apparel makers are trying to turn a page on a tough time marked by subdued consumer demand and intense promotional activity, with companies relying on discounts to offload inventory that piled up due to the Covid-19

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Visa Inc. (V) Baird 2024 Global Consumer, Technology & Services Conference (Transcript)

/ / Industrials /

Visa Inc. (NYSE:V) Baird 2024 Global Consumer, Technology & Services Conference June 5, 2024 9:40 AM ET Company Participants David Koning – Robert W. Baird Conference Call Participants Lisa Ellis – Global Head of Strategy David Koning Good morning, everyone. We’re live, and yes, welcome to our day here. So, thanks so much for joining. My name is David Koning. I’m a senior research analyst at Baird. I cover Payments and BPO. And very pleased to have Lisa with us, I think everybody’s very familiar with Lisa. We all swipe a lot, get a lot of rewards points. So, it’s been a great company for many, many years. Thrilled to have Lisa Ellis, their Global Head of Strategy with us. So, Lisa used to be a competitor of mine. She asked a ton of great strategic calls, or asked a ton of great strategic questions on the conference calls, so

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