Applied Materials, a leading semiconductor equipment supplier, is set to release its third-quarter earnings on Thursday, August 15th. Analysts anticipate strong results, with earnings expected to exceed the previous year’s figures. Several analysts have recently adjusted their price targets and ratings for AMAT, highlighting their positive outlook on the company. This article provides a summary of key analyst ratings and insights into the expected earnings release.
SpartanNash Company (SPTN) exceeded earnings expectations in the second quarter, but sales declined due to reduced volumes in both wholesale and retail segments. The company is implementing a Customer Value Proposition initiative aimed at enhancing freshness, value, and convenience, including price reductions on 6,000 products. SpartanNash reaffirmed its full-year guidance, projecting modest sales growth and adjusted earnings per share in line with analyst expectations.
Tapestry, Inc., the parent company of Coach, Kate Spade, and Stuart Weitzman, reported strong fourth-quarter earnings, exceeding analyst estimates for both earnings per share and revenue. The company also announced a positive outlook for the upcoming fiscal year, with expected revenue of around $6.7 billion and EPS between $4.45 and $4.50. In response to the strong results, Tapestry shares surged by 8% in premarket trading.
AST SpaceMobile, a company aiming to bring cellular service to remote areas, reported a loss for the second quarter but also highlighted a significant strategic investment from Verizon. The company also provided updates on its satellite launch progress.
European Wax Center (EWCZ) reported disappointing second-quarter sales results, falling short of analyst expectations and leading to a reduction in its full-year revenue guidance. The company attributed the decline to ongoing macroeconomic pressures impacting consumer spending and new guest acquisition. In response, European Wax Center has adjusted its development plans, postponing new center openings to prioritize performance improvement.
Progressive Corporation (PGR) reported strong financial results for July, exceeding earnings expectations and boosting its share price. Analysts reacted positively, with several raising their price targets and one upgrading their rating. This news highlights the continued growth and positive outlook for the company.
Lumentum Holdings Inc. (LITE) exceeded analysts’ expectations for both earnings and revenue in the fourth quarter, driven by strong demand for datacom chips used in data centers. The company also issued optimistic revenue guidance for the first quarter, indicating continued growth in cloud and AI markets.
Grab Holdings Limited (GRAB) reported mixed fiscal second-quarter 2024 results, missing revenue expectations but exceeding adjusted EBITDA estimates. The company’s stock price dropped significantly following the announcement.
Paycor HCM, Inc. (PYCR) reported strong fourth-quarter financial results, beating both earnings and revenue expectations. The company attributed the success to its strategic growth initiatives, including expanding its employee base and increasing its per-employee per month (PEPM) revenue. Analysts remain optimistic about Paycor’s future, with several maintaining their ‘Buy’ rating despite lowering price targets.
This article discusses the upcoming earnings report for Applied Materials, the strong performance of Nu Holdings, and defensive ETF picks recommended by financial experts. Applied Materials is expected to report strong earnings for the third quarter, while Nu Holdings reported impressive second-quarter revenue and customer growth.
