Diamond Member Pelican Press 0 Posted August 13, 2024 Diamond Member Share Posted August 13, 2024 This is the hidden content, please Sign In or Sign Up All the market-moving Wall Street chatter from Tuesday (This is CNBC Pro’s live coverage of Tuesday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A media giant and a cybersecurity company were among the stocks being talked about by analysts on Tuesday. Bernstein lowered its rating on Warner Bros. Discovery on the back of a disappointing second-quarter report. Meanwhile, Mizuho raised its price target on Palo Alto Networks ahead of the company’s upcoming earnings release. Check out the latest calls and chatter below. All times ET. 5:47 a.m.: Bernstein downgrades Warner Bros. Discovery, citing second-quarter earnings Bernstein moved to the sidelines on Warner Bros. Discovery after what the Wall Street firm deemed an “ugly” quarter. Analyst Laurent Yoon downgraded the media stock to market perform from outperform and shaved $2 off his price target to $8. Still, that new target implies 19.2% upside from Monday’s close. Yoon’s downgrade comes after the entertainment company missed quarterly expectations on adjusted EBITDA and revenue in its second-quarter earnings report published last week. Shares touched their lower point since the WarnerMedia-Discovery merger in 2022 in the wake of the release, the analyst noted. “It sounds bad and it is,” Yoon wrote to clients in a Tuesday note. “While there are some nuances, such as comps, the market reaction is reflective of the very little patience investors have for WBD given the ongoing deterioration.” Yoon specifically pointed to the fact that revenue fell by 6% and EBITDA by 16% in the quarter compared with the same ******* one year ago. Free cash flow tumbled by a whopping 43% when comparing the two time frames. Adding to uncertainty is the fact that the NBA chose other media companies to ink a rights deal with, ending a decades-long partnership with Warner Bros. Discovery’s Turner Sports. Warner Bros. Discovery is now suing the NBA. Warner Bros. Discovery shares shed 0.8% before the bell on Tuesday. The stock has tumbled around 41% in 2024. Disclosure: Comcast’s NBCUniversal, CNBC’s parent, was one company that got agreements for a package of NBA games. — Alex Harring 5:47 a.m.: Mizuho raises price target on Palo Alto Networks Investors should consider scooping up shares of Palo Alto Networks ahead of earnings. Analyst Gregg Moskowitz raised his price target on the cybersecurity stock to $380 from $350, maintaining his outperform rating. The new forecast implies upside of nearly 15%. “Our checks indicate an uptick in PANW demand for the first time in several quarters. More specifically, large deal activity has been stronger, customers have been consolidating more purchases with PANW, and demand has sounded healthier across both firewalls and subscriptions,” Moskowitz wrote in a note to clients. “In addition, we believe recent leadership changes are improving relations with some notable channel partners,” the analyst added. Palo Alto, which is due to report earnings Aug. 19, is up more than 12% for the year. Over the past month, however, shares are down more than 1%. PANW YTD mountain PANW year to date — Fred Imbert This is the hidden content, please Sign In or Sign Up #marketmoving #Wall #Street #chatter #Tuesday This is the hidden content, please Sign In or Sign Up This is the hidden content, please Sign In or Sign Up For verified travel tips and real support, visit: https://hopzone.eu/ 0 Quote Link to comment https://hopzone.eu/forums/topic/97978-all-the-market-moving-wall-street-chatter-from-tuesday/ Share on other sites More sharing options...
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