The company has released its financial results for 2Q 2024, confirming the continued growth of Ferrari N.V. (NYSE-RACE), as the company posted a 16.2% year-over-year increase in total sales to $1.712 billion. Operating profit rose 13.7% to $669 million. After all expenses, net income was $413 million. Deliveries of Ferrari-branded vehicles totaled 3,484 units in Q2 2024, up 2.7% from the previous year. Demand in the Americas rose by 112 cars, while demand in China, Hong Kong and Taiwan fell by 61 cars. In other countries, there was an increase of 24 cars for the second quarter. Ferrari is also strengthening its support department as limited edition models see a rise in demand. Ferrari NV raised its full-year outlook thanks to higher demand in the sector for limited-edition cars such as the $2.2 million Daytona SP3. The supercar maker has now revised its full-year 2024 profit outlook to €2.5 billion ($2.7 billion), up from its previous estimate of around €2.45 billion.
Ferrari N.V. (NYSE-RACE) also regularly pays an annual dividend to its shareholders. The dividend yield is currently 0.57% p.a. and the actual dividend amount has been approved by the company’s general meeting of shareholders at EUR 2.6011 per share. The title is currently in high demand by private investors and multinational investment corporations to buy shares of Ferrari N.V. (NYSE-RACE). According to fifteen Wall Street brokerage firm analysts and investment bank financial strategists, an increase in the share price can be expected for the short to medium term investment horizon. The average target price for the stock with a high estimate was set at $519.71 per share.
The Walt Disney Co. (NYSE-DIS) was founded by Mr. Walt Disney and Roy Disney on October 16, 1923 in Los Angeles, California, USA. Its business segments include – Media Networks, theme parks and resorts, interactive products, and consumer promotional products. The Media Networks segment includes cable, terrestrial and satellite broadcasting, distribution of television shows and radio stations. The Walt Disney Co (NYSE-DIS) also broadcasts in the entertainment segment, social events and animated films, recorded music, and live theatrical plays. The company owns theme parks and resorts and operates Walt Disney World Resort in Florida, which includes theme parks, hotels, restaurants, sports complexes, convention centers, campgrounds, golf courses, and water sports parks. The Walt Disney Co. (NYSE-DIS) also owns and operates Disneyland Resort in California, Disney Vacation Club and Disney Cruise Line. The company also operates the Disneyland Resort in Paris, the Disneyland Resort in Hong Kong and the Disney Resort in Tokyo, Japan. The company employs 225,000 tribal workers.
The Walt Disney Co (NYSE-DIS) has released its third-quarter 2024 financial results through its earnings report. For the third quarter, the company posted a 4% year-over-year increase in revenue to $23.2 billion. Operating profit recorded a 16.6% increase to $4.2 billion. Excluding all expenses, the company posted a 35% year-over-year increase in net income to $1.39 billion.
Walt Disney World has announced longer hours of operation for its parks throughout August, and a new Walt Disney World virtual queue (Lightning Lane Multi Pass) is now in operation for the 19th day to save guests wait time when entering the property. The company also unveiled new attractions “Avatar,” “Indiana Jones,” “Encanto” and “Monsters, Inc. “The company will celebrate its 70th anniversary next year when a show based on the life of Walt Disney with an audio-animated character of the company’s founder will open at Disneyland Park in Anaheim to mark the occasion. Walt Disney also unveiled two attractions for the new customer expansion, Tropical Americas, located at Disney’s Animal Kingdom park in Orlando, Florida, where, for example, guests watch Indiana Jones explore a Mayan temple, or watch Disney’s animated film “Encanto” featuring the character Antonio on the day he received his magical gift. The new Tropical America attraction is set to open in 2027.
The company also pays a regular dividend to its shareholders. The quarterly dividend payout is $0.90 per share. The annual dividend yield is 1.04% p.a. These facts have attracted multinational investment corporations and private investors to buy shares of Walt Disney Co. (NYSE-DIS) in particular. 24 Wall Street brokers have set an average target price for the short- to medium-term investment horizon at $117.60 per share.
FedEx shares hit a new high. FedEx stock is up more than 20% year-to-date, pushing it to an all-time high of $315.59 per share. The president and chief executive officer of FedEx Corp. Raj Subramaniam said: “We made significant progress in fiscal 2024 and ended the year well, delivering four consecutive quarters of growing operating income and margins in a challenging revenue environment.” “These results are unprecedented in this current environment and reflect our continued execution of our DRIVE initiatives and our commitment to transforming FedEx while delivering superior service to our customers. We expect this momentum to continue in fiscal 2025 as we advance our efforts to create the most flexible, efficient and intelligent network in the world.” The Company generated total sales of USD 22.1 billion for fiscal year 2024. After deducting all expenses, the company earned a net profit of USD 1.47 billion. Sales in the fourth quarter increased slightly from the year-ago period. Operating income and margins improved, reflecting lower structural costs as the company continued to execute its DRIVE program.
During fiscal year 2024, FedEx returned approximately $3.8 billion to shareholders through share repurchases and dividend payments of $1.3 billion. Repurchases during fiscal 2024 totaled approximately 9.8 million shares. Executive Vice President and Chief Financial Officer John Dietrich said: “As we progress in our transformation, we remain focused on reducing structural costs and reducing the capital intensity of the business. Improved earnings and better capital discipline have enabled us to return $3.8 billion to shareholders during fiscal 2024 while prudently investing in our business.”
The company also released forecasts for fiscal year 2025 via a press release. The outlook for fiscal year 2025 includes $2.2 billion in cost savings.
The company expects to return $3.8 billion to its shareholders through share repurchases and dividends. FedEx Corporation (NYSE-FDX) also pays regular quarterly dividends to its shareholders. The dividend yield is currently 1.85% per annum, and the actual dividend amount has been approved by the company’s board of directors at $1.380 per share. According to analysts at brokerage firms and financial strategists at investment banks, the share price can be expected to rise in the short to medium term investment horizon, where the average target price has been set at USD 322.53 per share.
Amazon Inc. (Nasdaq:AMZN) is celebrating its 30th anniversary. Founded on July 5, 1994, the company was originally an online marketplace for books. The company has grown into one of the world’s largest companies, with its value now around $2 trillion. In the company’s early days, owner Jeff Bezos soon convinced the Wall Street stock market with the argument that the company didn’t need to show profits, but it needed to create the conditions and culture to do so. Due to this fact, Amazon soon began to dominate the US not only in online shopping, where currently over 40% of all Americans shop with Amazon.
10.7. 2024 also took place one of Amazon’s biggest events, the so-called AWS Summit in New York , which every year brings the major news of the year. This Summit was all about the latest cloud innovations in cutting-edge technologies, from generative artificial intelligence to analytics, that are revolutionizing industries and enabling businesses to become leaders in the digital era.
The company also holds its annual Amazon Prime Day on July 16-17. This Prime Day 2024 offers massive summer sales on thousands of products. This fact, like every year, will also be reflected in the share price of Amazon Inc (Nasdaq:AMZN). Amazon stock has beaten the market in the first 6 months, adding over 27% to its value in the first half of the year. This has caught the attention of multinational investment corporations, as well as private investors for buying shares of (Nasdaq:AMZN), which is expected to have an equally or more successful second half of the year thanks to Amazon’s ever-evolving AI.
42 Wall Street brokerages have increased their price targets on shares of Amazon Inc (NASDAQ:AMZN). The average target price has been set at $224.24 per share for the short to medium term investment horizon.
Adobe Systems Inc (NASDAQ-ADBE) is a software company headquartered in San Jose, California, USA. The company’s Chairman and CEO is Mr. Shantanu Narayen. The company offers products and services used by professionals, marketers, knowledge workers, application developers. The company’s business is divided into three segments: digital media, digital marketing, print, and publishing. The Digital Media segment provides tools and solutions that enable individuals, small and medium-sized businesses, and enterprises to create, publish, promote, and monetize their digital content. The Digital Marketing segment provides solutions and services to create, manage, execute, measure and optimize digital advertising and marketing. The Print and Publishing segment addresses market opportunities ranging from the diverse authoring and publishing needs of technical and enterprise publishing.
Adobe (Nasdaq:ADBE) recently reported financial results for the second quarter of fiscal 2024. Chairman and CEO Shantanu Narayen said the company achieved record revenue of $5.31 billion, driven by strong growth across Creative Cloud, Document Cloud and Experience Cloud. He further said: “Our highly differentiated approach to AI and innovative product delivery is attracting an expanding customer base and delivering more value to existing users.” CFO and vice president Dan Durn said: “Our market-leading products, strong execution and world-class financial discipline position us well for the second half of 2024 and beyond.”
Digital Media segment revenue grew 12% year-over-year to $3.91 billion. Creative revenues increased 11% year-over-year to $3.13 billion. Document Cloud revenue increased 19% to $782 million. Revenue from the Digital Experience segment grew 9% to $1.33 billion. Digital Experience subscription revenue was $1.20 billion, up 13% year over year.
Shares of Adobe Inc. also saw its biggest share price gain in more than four years after releasing its 2Q 2024 earnings results. This is also due to the company’s outlook for the second half of 2024, in which it projects strong future sales of its creative products, suggesting that customers are shifting to the company’s new AI-based tools. The company expects its creative AI software and digital media business to grow to $460 million in revenue, exceeding the $435.2 billion estimate of multinational investment corporations.
29 Wall Street brokers have set an average target price of $611.93 per share for Adobe (Nasdaq:ADBE) for the short-to-medium term investment horizon.
Apple Inc (AAPL-NASDAQ) recently released its financial results for the second quarter of 2024. The company generated total sales of $90.8 billion for the quarter. CEO Tim Cook said: “During the second quarter, we were thrilled to launch and introduce our Apple Vision Pro virtual 3D glasses to the world. We’re also looking forward to our Worldwide Developers Conference in August, where we’ll unveil our next product innovations.”
Apple Inc. will also introduce new releases and updates to its apps this fall, such as iOS 18 , iPadOS 18, macOS Sequoia , watchOS 11 , visionOS 2 and tvOS 18, among others. Updates include things like US national park hikes and custom walking routes in Apple Maps; the ability to pay with rewards and installments using Apple Pay, as well as new facilitation features in Apple Music and a redesigned Apple Fitness+ environment to help users make the most of their extensive exercise and meditation offerings.
Apple Inc. (AAPL-NASDAQ) is also currently developing a revolutionary technology, personal robotics for use in the home. Services such as the App Store, TV+ and Apple One packages also ultimately depend on the iPhone and other devices to function. Therefore, it is imperative that the company stays at the forefront of hardware innovation and keeps up with the competition in the AI space, and the new personal robotics industry will be a great boon. Apple Inc.’s business remains heavily dependent on iPhones, which account for more than half of its revenue.
Apple Inc (AAPL-NASDAQ) pays regular quarterly attractive dividends to its shareholders. The dividend yield is currently 0.43% p.a. The actual dividend amount has been approved by the company’s general meeting of shareholders at $0.25 per share. The average high estimate target price has been set by tipranks.com analysts for the short to medium term investment horizon at $275.00 per share.
Philip Morris International (PM:NYSE) has been recognized by Forbes magazine’s 2024 Net Zero Leaders (the so-called Forbes 2024 Net Zero Leaders ) as the top 100 public US company in reducing greenhouse gas (GHG) emissions from its products. CEO of Philip Morris International Inc , Jacek Olczak said: “As we transform our company towards a smoke-free future, we are striving to do so in the most sustainable way possible, including leading the way in decarbonisation. We are honored to be recognized by Forbes as the highest ranked company among companies at the forefront of working toward net zero.”
Philip Morris International Inc. (NYSE:PM) is an American multinational company that develops and manufactures cigarettes and tobacco in more than 180 countries. The company was founded in 1847. The company is headquartered in New York, USA and is a subsidiary of Altria Group. The Chief Executive Officer of Philip Morris International Inc (NYSE-PM) is Jacek Olczak. The company employs 82,700 tribal workers. Philip Morris International (PMI) is actively developing its products for a smoke-free future and has long been evolving its portfolio to include products outside the tobacco and nicotine sectors. The company’s current product portfolio consists primarily of cigarettes and smokeless products. Since 2008, PMI has invested over $12.5 billion in development. The company’s goal is to develop and commercialize innovative smoke-free products for adults, with the goal of completely ending the sale of conventional cigarettes. This direction includes building a world-class scientific team comprised of experts in preclinical systems toxicology, clinical and behavioral researchers, including experts in post-marketing studies.
Philip Morris International Inc. (NYSE:PM) stock outlook for 2024
Brokerage analysts at Thomson Reuters expect that the company will report earnings of $6.30 per share for the fiscal year 2024. This is primarily due to IQOS products, which accounted for 39% of total net income for 2023. In Japan and Korea, IQOS products even made a full two-thirds of total net income. In Europe, IQOS sales exceeded 10% of total revenue for the first time. Philip Morris International (PM:NYSE) generated total sales of $35.174 billion for fiscal year 2023. Operating profit of USD 11.556 billion. After deducting all expenses, the company earned a net profit of USD 7.813 billion. The company has total assets of USD 65.304 billion.
Philip Morris International (PM:NYSE) also pays attractive regular dividends to its shareholders. The dividend yield is currently 5.14% per annum and the actual dividend amount has been approved by the company’s AGM at $1.30 per share. Shares of Philip Morris International Inc. According to analysts at brokerage firms and financial strategists at investment banks, the share price can be expected to rise in the short to medium term investment horizon, where the average target price of the stock has been set at $109.14 per share.
The Home Depot, the world’s largest home furnishings retailer, reported financial results for the first quarter of 2024. The company generated total sales of $36.4 billion. This is a decrease of 2.3% in total sales compared to the same quarter of the previous year. Net profit for the first quarter of fiscal year 2024 was USD 3.6 billion, down 7.7%. At the end of the first quarter, the company operated a total of 2,337 retail stores in 50 states in the U.S., the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The company employs approximately 465,000 associates.
Despite the decline in quarterly sales, the company presents its fiscal 2024 outlook, which includes 53 weeks of operating results. In addition, in March, the company entered into an agreement to acquire SRS Distribution Inc (SRS), which it had already purchased for $18.25 billion. The move by Home Depot expanded the company’s addressable market by $50 billion. This acquisition of SRS gave Home Depot a stronger presence with its premium customers, a category in which competitor Lowe’s had an advantage. Home Depot CEO Ted Decker said: “SRS is an industry leader with a productive history across all DIY sectors.” The acquisition of SRS brings Home Depot assets including more than 7,000 professional tribal salespeople with more than 760 locations and a company fleet of 4,000 vehicles.
The Home Depot, Inc (NYSE-HD) also pays a regular, quarterly dividend to its shareholders. The dividend yield is currently 2.53% per annum and the actual dividend amount has been approved by the company’s board of directors at $2.25 per share. The Home Depot’s stock has become very popular with multinational investment companies and private investors, and brokerage analysts believe that the share price can be expected to rise in the short to medium term investment horizon. The average target price has been set at $382.36 per share.
Amazon Inc (Nasdaq:AMZN) has returned to its all-time high stock price this year. Following the company’s first-quarter earnings report in late April, Amazon stock analysts are bullish on the tech giant, with operating cash flow up 82% to $99.1 billion over the past twelve months, compared to $54.3 billion for the twelve months ended Dec. 31. Free cash flow improved to an inflow of USD 50.1 billion over the last twelve months compared to an outflow of USD 3.3 billion for the last twelve months ending March 31, 2023.
This increase in profits and its ability to fend off rivals in the cloud computing market has ensured its dominance across all multinational technology companies. With a market capitalization of over $1.95 trillion, Amazon is one of the most valuable companies in the world. The company currently shares AI leadership with Microsoft (MSFT) in cloud services through Amazon Web Services or AWS.
Amazon.com, Inc. (NASDAQ: AMZN) also announced on Thursday, June 13, 2024, that it has closed a $230 million commitment to accelerate the creation of generative AI applications, for startups, or small companies, around the world. This AWS credit will provide companies with the learning and education to leverage artificial intelligence (AI) and machine learning (ML) technologies. This first part of the new commitment will fund the second cohort of the AWS Generative AI Accelerator, a program that will provide hands-on expertise and a credit of up to $1 million to each of the top 80 startups using generative AI to solve complex problems. Applications for the AWS Generative AI Accelerator system will be accepted until July 19, 2024.
Vice President of Artificial Intelligence Products at AWS Matt Wood said: “For more than 18 years, AWS has helped more startups build, launch and scale their businesses than any other cloud provider – it’s no coincidence that 96% of all AI/ML unicorns run on AWS.””With this new effort, we’ll help startups start and scale world-class businesses, providing them with the building blocks they need to unleash new AI applications that will impact every aspect of how the world learns, connects and does business.”
The AWS Generative AI Accelerator identifies top early-stage startups that are using generative AI to solve complex problems in areas such as financial services, healthcare and life sciences, media and entertainment, business, and climate change, among others. Participants will have access to sessions on ML performance improvement, stack optimization, and go-to-market strategies. The 10-week program will connect participants with industry-based business and technical mentors. Startups will each receive up to $1 million in AWS credits to help them build, train, test, and launch their generative AI solutions. They will also have access to industry experts, technology and technical sessions from NVIDIA, a program partner, and will be invited to join the NVIDIA Inception program , which is designed to support cutting-edge startups.
Amazon Inc. also delights customers with fast and convenient delivery. With more than 2 billion global orders arriving the same or next day in Q1, Amazon delivered to Prime members at its highest-ever rate. In March, in the 60 largest U.S. regions, nearly 60% of orders arrived to Prime members the same or next day, and in London, Tokyo and Toronto, 3 out of 4 items were delivered the same or next day.
42 Wall Street brokerages have increased their price targets on shares of Amazon Inc (NASDAQ:AMZN). The average target price has been set at $221.20 per share for the short to medium term investment horizon.
Marriott International, Inc (NASDAQ-MAR) recently released financial results for the first quarter of 2024. The company increased total sales by 4% year-over-year to $1.142 billion. Net income for 1Q2024 was $564 million. The company built 46,000 new rooms during the first three months of 2024 and had more than 202,000 rooms under construction at the end of the first quarter.
President and CEO of Marriott Inc. Anthony Capuano said, “We were pleased with our first quarter results, which included both rapid new construction and revenue generation. Our international markets were particularly strong, posting gains with an 11% increase. Revenue growth in Asia Pacific and China was 17%. “We are excited about the launch of the MGM Collection with Marriott Bonvoy, a strategic agreement with MGM Resorts International , which added nearly 37,000 rooms to our system. We saw excellent initial booking rates and loyalty card redemptions.”, “Our first quarter results underscore the resilience of our asset-focused business model and the strength of our brands. We are raising our full-year earnings estimates and now expect to return between $4.2 billion and $4.4 billion to shareholders this year.”
The company also announced via press release that it has renovated three luxury resorts of more than 1,000 rooms at Pelican Hill, Turtle Bay Resort and the Midtown luxury hotel in New Yourk. These luxury resorts will join Marriott’s first-class Bonvoy brand. The company also revealed its newest brand of hotels named Project Mid-T. This brand is designed primarily for redevelopment of existing hotels or reuse of office space and is aimed at mid-market clients.
Marriott International Inc (NASDAQ-MAR) also pays a regular quarterly dividend to its shareholders. The dividend yield is 1.10% per annum and the actual dividend amount has been approved by the company’s general meeting of shareholders at $0.63 per share. The high estimate average target price was set at $255.28 per share.
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