O’Reilly Automotive (ORLY) disappointed investors with its third-quarter earnings report, missing both revenue and earnings estimates. The company also lowered its FY24 guidance, sending shares down slightly in after-hours trading. However, despite the miss, several analysts remain bullish on the stock, raising their price targets.
Starbucks’ recent quarterly report has sparked concerns among analysts, leading to a series of downgrades and price target cuts. The coffee chain’s disappointing earnings and revenue, along with a decline in same-store sales, have cast doubt on its long-term growth prospects. As a result, shares have plummeted to a 52-week low, raising questions about the company’s ability to maintain its strong position in the market.
CNBC’s Jim Cramer expressed severe criticism towards Starbucks CEO Laxman Narasimhan after the company’s disappointing financial results and guidance miss. Cramer questioned Narasimhan’s optimism and proposed action plan, highlighting concerns about the company’s declining performance and aggressive expansion strategy. Despite Narasimhan’s assurances of a strong foundation and loyalty among core customers, Cramer remains skeptical about Starbucks’ ability to address its challenges.
Starbucks reported a dismal fiscal second quarter, sending its shares tumbling by 11.5%. Revenue fell short of expectations, and earnings per share missed estimates by a significant margin. The company also slashed its outlook for fiscal 2024, citing persistent challenges such as sluggish store traffic, a cautious consumer, and severe weather. Comparable store sales in North America plummeted by 3%, while international sales dropped by 6%. Management highlighted plans to improve operations, introduce new products, and target occasional customers to address these headwinds.
Intel Corporation (NASDAQ: INTC) announced its first-quarter earnings results, missing analyst estimates for both earnings per share (EPS) and revenue. The company reported an EPS of $-0.09, $0.24 below the consensus estimate of $0.15. Revenue for the quarter came in at $12.72 billion, compared to the consensus estimate of $12.88 billion.
