SAP Shares Surge 6%, NXP Declines 8% on Lower-than-Expected Profits, and More Earnings Highlights
23 Julho 2024 - 7:02AM
IH Market News
SAP (NYSE:SAP) – The enterprise software
developer for management and business processes reported
second-quarter revenue of €8.29 billion, above analysts’ estimates
of €8.24 billion from LSEG. Adjusted earnings per share were €1.10,
slightly above the €1.09 forecast. For the year, SAP reiterated its
forecast for adjusted operating profit between €7.6 billion and
€7.9 billion. Shares rose 6.1% in pre-market trading.
NXP Semiconductors (NASDAQ:NXPI) – The
semiconductor and chip technology solutions manufacturer reported
adjusted earnings of $3.20 per share in the second quarter,
slightly below the LSEG estimate of $3.21 per share. Revenue fell
5% year-over-year but was in line with estimates at $3.13 billion.
For the next quarter, NXP projected revenue between $3.15 billion
and $3.35 billion, below the average analyst estimate of $3.35
billion. Shares fell 8.4% in pre-market trading.
Calix (NYSE:CALX) – The broadband platforms and
network solutions provider reported a second-quarter loss of $8
million (-$0.12 per share). Revenue was $198.1 million, below
analysts’ forecast of $200.8 million from FactSet.
Cadence Design Systems (NASDAQ:CDNS) – The
electronic design software and solutions developer issued a weak
earnings forecast for the current quarter. Cadence expects earnings
of $1.39 to $1.49 per share in the third quarter, while FactSet
analysts predicted $1.61 per share. This overshadowed the
better-than-expected second-quarter results. Cadence had adjusted
earnings per share of $1.28 and an 8.6% increase in revenue to
$1.06 billion. FactSet analysts expected adjusted earnings per
share of $1.23 and revenue of $1.04 billion.
Logitech International (NASDAQ:LOGI) – The
Swiss computer hardware manufacturer reported sales of $1.1
billion, marking a 12% increase in dollars and 13% in constant
currency compared to the same period last year. Its GAAP operating
income grew 96% to $153 million, while non-GAAP operating income
rose 67% to $182 million. GAAP earnings per share (EPS) increased
136% to $0.92, and non-GAAP EPS grew 74% to $1.13. However,
operating cash flow fell 27% to $176 million. Logitech projects
sales growth of 1% to 3% for 2025, between $4.34 to $4.43 billion.
The company faces internal challenges, including the search for a
new CFO and disputes with a co-founder who is now a minority
shareholder. Shares fell 0.3% in pre-market trading.
Nucor (NYSE:NUE) – The steel and steel products
manufacturer exceeded forecasts in the second quarter, with
earnings of $2.68 per share and revenue of $8.08 billion, while
LSEG analysts predicted $2.35 per share and $7.69 billion in
revenue.
Cleveland-Cliffs (NYSE:CLF) – The steel
products producer reported second-quarter revenue of $5.09 billion,
below the consensus estimate of $5.2 billion. Adjusted earnings per
share were $0.11, compared to an estimated loss of $0.01 per share.
The company announced a reduction in its capital expenditure
projections and stated it is on track to meet its cost reduction
goals. Shares rose 1.3% in pre-market trading.
Crown Holdings (NYSE:CCK) – The metal packaging
manufacturer for consumer products issued a better-than-expected
outlook for the year. Crown projected earnings of $6 to $6.25 per
share, above the FactSet estimate of $5.97 per share. In the last
quarter, adjusted earnings per share (EPS) were $1.81, surpassing
the consensus estimate of $1.59. However, revenue was $3.04
billion, compared to the forecast of $3.06 billion.
Zions Bancorporation (NASDAQ:ZION) – The
banking and financial services provider reported second-quarter net
income of $190 million, or $1.28 per share, above LSEG analysts’
estimates of $1.10. Quarterly revenue was $776 million, above the
consensus estimate of $761.26 million.
Lockheed Martin (NYSE:LMT) – Lockheed Martin is
preparing to release its second-quarter earnings, with expected
earnings per share of $6.46 and sales of $17 billion. Despite
challenges like inflation and F-35 delays, operating profit margins
are projected to fall to around 12%. The company maintains a
positive outlook for the year, bolstered by the delivery of updated
F-35 TR-3 jets. Lockheed’s shares have underperformed the S&P
500, affected by uncertainties in military spending during an
election year.
Medpace Holdings (NASDAQ:MEDP) – The clinical
development services provider reported second-quarter earnings of
$88.4 million, with earnings per share of $2.75, exceeding
expectations of $2.52. However, its revenue of $528.1 million
missed the forecast of $529.7 million. The company projects annual
earnings of $11.24 to $11.93 per share and revenues between $2.13
billion and $2.17 billion.
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