Latest news for Brookfield DTLA Fund (OTC:DTLAP) Stock

Brookfield DTLA Fund Office Trust Investor Inc is engaged in the business of real estate. Principally, it owns and invests in high-quality commercial properties primarily in the Los Angeles Central Business District. The company operates through single segment namely the Office segment which includes the operation and management of commercial office properties. In addition, it is also involved in short-term as well as longer-term leasing of properties.

BROOKFIELD DTLA 7.625A PR by Brookfield DTLA Inc.

Brookfield DTLA Fund Office Trust Investor Inc

Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) CEO Andrew Wilson remains confident that the video game company will feel minimal <a href="https://www.benzinga.com/general/gaming/24/07/40023915/sag-aftra-strike-hits-video-game-industry-but-gta-6-remains-unaffected">short-term impact</a> from the recent SAG-AFTRA strike.
What Happened: <a href="https://www.ign.com/articles/ea-ceo-says-video-game-actor-strikes-wont-have-short-term-impact-on-the-company">According</a> to IGN, during EA&#8217;s recent earnings call, Wilson addressed investor concerns regarding the strike's potential effects.
"We deeply value our talented actors who are an important part of the work we do to deliver the incredible entertainment experiences that our players enjoy around the world. We&#8217;re working very closely; this is not an EA-specific situation, this is an industry-specific situation, and we&#8217;re working diligently to negotiate at the table,&#8221; Wilson stated.
See Also: <a href="https://www.benzinga.com/news/earnings/24/07/40051832/electronic-arts-q1-earnings-highlights-college-football-madden-soccer-video-games-building-momentum">Electronic Arts Q1 Earnings Highlights: College Football, Madden, Soccer Video Games &#8216;Building Momentum For FY25 And Beyond&#8217;</a>
&#8220;The way it works now in terms of our product specifically is that the strike is limited to games commencing production after September 2023, including live service games. So we don&#8217;t expect any near-term disruption to any of the games we have in development or any of the live services we&#8217;re currently running,&#8221; the CEO added. &#8220;That being said, we&#8217;re committed to continuing to bargain in good faith and are hopeful that the parties can expediently resolve our issues at the bargaining table. But we&#8217;re not anticipating any significant short-term impact at EA."
Why It Matters: Actors wish to secure better protections against gaming companies&#8217; usage of artificial intelligence (AI).
And EA has a robust portfolio of live service games. The company's $1.26 billion in net bookings for the quarter are fueled by titles like Madden NFL 24, FC Mobile, and FC Online.
Upcoming releases such as Madden NFL 25, EA Sports FC 25, and NHL 25, alongside The Sims 4 and College Football 25, are unaffected, according to the company.
EA's sole single-player offering, Dragon Age: The Veilguard, remains on track. The company's focus on long-term development cycles means many of its games slated for future release were greenlit well before the September 2023 cutoff, insulating them from immediate disruption.
Yet, Wilson's remarks don't address the potential long-term implications of the strike. If the walkout persists, projects initiated post-September 2023 could face delays, potentially disrupting EA's plans for 2026 and beyond. The absence of SAG-AFTRA voice actors could slow down development on future titles, creating a ripple effect that might become evident in the coming years.
SAG-AFTRA initiated the video game actor strike on July 26, following eighteen months of unsuccessful negotiations primarily centered around AI protections. 
Read Next: <a href="https://www.benzinga.com/general/gaming/24/07/40035765/sag-aftra-calls-video-game-strike-over-ai-concerns">SAG-AFTRA Calls Video Game Strike Over AI Concerns</a>
Image credits: Sergei Elagin on Shutterstock.

Gaming

News

General

EA CEO On SAG-AFTRA Strike: 'We Don't Expect Any Near-Term Disruption'

Benchmark analyst Michael Legg reiterates SKYX Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYX#NASDAQ">SKYX</a>) with a Buy and maintains $5 price target.

Price Target

Reiteration

Analyst Ratings

SKYX

Benchmark Reiterates Buy on SKYX Platforms, Maintains $5 Price Target

B of A Securities analyst Gary Bisbee maintains Gartner (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IT#NYSE">IT</a>) with a Buy and raises the price target from $525 to $580.

B of A Securities Maintains Buy on Gartner, Raises Price Target to $580

Prominent Chinese electric vehicle manufacturer BYD Company (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) is planning to penetrate the Canadian automotive market, according to a regulatory filing submitted earlier in July, Reuters writes.
This move is amidst discussions by Canadian authorities about potentially imposing tariffs on Chinese-imported vehicles.
Canada is contemplating following the United States and the <a target="_blank" href="https://www.benzinga.com/news/24/07/39635158/eu-imposes-provisional-duties-of-as-much-as-37-6-on-chinese-ev-imports" rel="noreferrer noopener">European Union in levying tariffs on Chinese electric vehicles</a>.
This strategy aims to counter what the West perceives as China&#8217;s excessive subsidies to its EV industry.
In June, Canadian officials announced a month-long public consultation period, starting July 2, to evaluate the country&#8217;s response., reported Reuters.
The Ottawa public consultation event highlighted &#8220;China&#8217;s unfair support for the EV sector, if left unchecked, could lead to an exponential surge of imports that will adversely affect planned EV investments and the transformation of Canada&#8217;s automotive sector.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39933356/byd-poised-to-surpass-tesla-in-ev-sales-as-us-and-europe-demand-wanes" rel="noreferrer noopener">BYD Poised To Surpass Tesla In EV Sales As US And Europe Demand Wanes</a>
BYD Canada representatives&#8217; meetings with government officials have not been precisely dated in the document.
Although the filing did not outline a specific timeline for BYD&#8217;s Canadian market plans, it did address the potential tariffs on EVs and the company&#8217;s intentions to introduce passenger electric vehicles in Canada.
In May, BYD launched the Shark, a mid-size hybrid-electric pickup truck, in Mexico. Despite the new U.S. tariffs on Chinese EVs, BYD&#8217;s regional chief emphasized that the company is not targeting the U.S. market.
BYD shipped nearly 1 million electric and hybrid cars in the second quarter, <a target="_blank" href="https://www.benzinga.com/news/24/07/39592293/tesla-rival-byds-ev-sales-jump-21-in-q2-details" rel="noreferrer noopener">driven by aggressive discounts in China</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39966645/byd-to-supply-120-electric-buses-to-south-africas-golden-arrow" target="_blank" rel="noreferrer noopener">BYD To Supply 120 Electric Buses To South Africa&#8217;s Golden Arrow</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Emerging Markets

Tech

BYDDY

Tesla Rival BYD Eyes Canadian Market In Wake Of Tariff Considerations

B of A Securities analyst Omar Dessouky maintains Electronic Arts (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) with a Buy and raises the price target from $150 to $170.

B of A Securities Maintains Buy on Electronic Arts, Raises Price Target to $170

Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) generated headlines in the pre-market hours as the company revealed its much-awaited second-quarter earnings report. Ahead of the disclosure, SPOT stock suffered from a<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39892706/can-spotify-q2-earnings-tune-out-bearish-signals-for-a-bullish-upside"> strongly bearish trend</a> despite an implied robust upside based on analysts' price targets. Therefore, the Q2 print represented an opportunity for the audio streaming service to respond.
The results were exactly what the company needed. Spotify generated earnings of 274 million euros or about $298 million. The bottom-line print was equivalent to 1.33 euros per share, beating the analysts' consensus view of 1.05 euros per share. On the top line, sales hit 3.8 billion euros, which was in line with expectations.
Among the key highlights was growth in monthly active users (MAUs) reaching 14% to 626 million users. While this rally slightly missed the guidance of 631 million, it should be noted that premium subscribers saw a year-over-year increase of 12% to 246 million. This performance beat the consensus estimate by 1 million. Also, advertisement-supported revenue saw a lift of 13% to 456 million euros. The business expansion stemmed from music streaming and podcasts.
On Monday, SPOT stock finished the session at $295.45, up slightly from Friday's close. However, during Tuesday's pre-market session, Spotify shares reached $336, representing growth of nearly 14%.
The MUSQ ETF: While Spotify constitutes a major component of the wider audio-content industry, it's not the only player in town. Several other entities – including YouTube Music under Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), which will<a href="https://www.benzinga.com/news/earnings/24/07/39898676/tesla-alphabet-and-3-stocks-to-watch-heading-into-tuesday"> soon release its quarterly report</a> – offer viable exposure. However, it's difficult for retail investors to acquire multiple securities in the ecosystem, which is where the MUSQ Global Music Industry ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUSQ#NYSE">MUSQ</a>) comes into play.
As Benzinga noted earlier this year, the<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/03/37878863/thematic-music-etf-musq-prepares-to-strike-a-chord-as-indicators-point-to-upbeat-momentu"> thematic exchange-traded fund</a> "provides <a href="https://musqetf.com/about">concentrated exposure to the complete music ecosystem</a>, covering streaming, content and distribution, live music events and ticketing, satellite and broadcast radio, equipment and technology, and artificial intelligence. The fund holds multiple stocks that encompass the variety of companies and technologies the music industry is dependent upon."
Currently, the only broad-based pure-play ETF covering the global music industry, the key advantage of the <a href="https://www.musqetf.com/">MUSQ fund</a> is diversification. While Spotify is one of the top holdings of the ETF, it's not the only position. Indeed, SPOT stock represents 3.88% of MUSQ's net assets. Alphabet stock comprises a higher portion of the holdings at 5.8%.
Additionally, MUSQ brings other core components of the music industry to investors in a convenient package, including the content realm – via names like Tencent Music Entertainment Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TME#NYSE">TME</a>) – and in-person performance, particularly through Live Nation Entertainment Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>).
Therefore, no one entity can determine the entire trajectory of MUSQ, affording investors the benefit of market risk distribution.
The MUSQ Chart: On Monday, the MUSQ ETF finished the session at $24.52, gaining nearly 1% against Friday's close. The fund appears to have hit a near-term bottom on June 24, steadily gaining sentiment since that session.
<ul>
<li>Given Tuesday's blistering pre-market performance of SPOT stock, it's possible that MUSQ may see a noticeable bump higher.</li>
<li>While the ETF has been trading lower between the end of December to the June 24 trough, the fund's trajectory appears to be rounding out.</li>
<li>A U-shaped recovery could be in play, especially given Spotify's strong quarterly results.</li>
<li>Encouragingly, MUSQ trades above both its 50-day and 200-day moving averages, which serve as common barometers of market health.</li>
</ul>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfsuhvqqjinm4DWGHrzrk-06r6-r6qYWFhDp-C8C8L1aavF7A2OLJfr33vsVBvxu8UhYlWnsKuWXC6E6SvH-KaqjkPY24kWkZ6V-AJO9tnR2bfW7RkVgR6fEn6TzZ7XiNcfE7ECzLg-zrQja7Ko0YKyXxw?key=aGmwvuj7X1vmuZQYKwcscg" alt="" /></figure>
Featured photo by <a href="https://pixabay.com/users/javierdumont-14443229/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=4722544">javier dumont</a> from <a href="https://pixabay.com//?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=4722544">Pixabay</a>.

Long Ideas

Short Ideas

Technicals

Trading Ideas

ETFs

GOOG

MUSQ

SPOT

Tune Into Potential Profits With The Sector Pure-Play MUSQ Global Music Industry ETF (MUSQ)

Benchmark analyst Christopher Kuhn reiterates Landstar System (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSTR#NASDAQ">LSTR</a>) with a Hold.

LSTR

Benchmark Reiterates Hold on Landstar System

SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) shares are trading higher Wednesday after the company on Tuesday posted strong <a href="https://www.benzinga.com/pressreleases/24/07/b40032979/sofi-technologies-reports-net-revenue-of-599-million-and-net-income-of-17-million-for-q2-2024-mark">second-quarter results on Tuesday. </a>
The Details:
SoFi reported earnings of 1 cent per share, inline with the consensus estimate, and quarterly sales of $599 million beat the Street's estimate for the second quarter.&nbsp;
SoFi's revenue increased 22.54% year-over-year, and total members rose 41% from the prior year period.
&#8220;We had an exceptional second quarter. Our relentless focus on product innovation and member growth across our portfolio of businesses not only drove strong results today, but we expect that they&#8217;ll fuel financial growth for years to come. Our one-stop shop strategy continues to deliver strong, diversified growth and profitability, despite macroeconomic volatility,&#8221; commented Anthony Noto, CEO of SoFi Technologies.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/07/40051107/first-solar-reports-strong-q2-results-eps-beat-sales-up-24">First Solar Reports Strong Q2 Results: EPS Beat, Sales Up 24%</a>
SoFi expects third-quarter adjusted net revenue above estimates and raised its full-year revenue guidance. Needham analyst Kyle Peterson reiterated a Buy rating and $10 price target <a href="https://www.benzinga.com/quote/SOFI/analyst-ratings">on the stock</a> following the print.&nbsp;
According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, SoFi shares are trading above the stock&#8217;s 50-day moving average of $6.90 and 10.1% of shares are being sold short.&nbsp;
<h2 class="wp-block-heading">Will SOFI Stock Go Up?</h2>
When trying to assess whether or not SoFi Technologies will trade higher from current levels, it's a good idea to take a look at analyst forecasts. 
Wall Street analysts have an average 12-month price target of $8.75 on SoFi. The Street high target is currently at $10 and the Street low target is $7. Of all the analysts covering SoFi Technologies, 2 have positive ratings, 2 have neutral ratings and no one has negative ratings.
In the last month, 4 analysts have adjusted price targets. Here's a look at recent price target changes <a href="https://www.benzinga.com/quote/SOFI/analyst-ratings">[Analyst Ratings]</a>. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering SoFi Technologies have performed in recent history. 
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. SoFi Technologies is 21.81% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.
For a broad overview of everything you need to know about SoFi, visit <a href="https://www.benzinga.com/quote/SOFI">here</a>. If you want to go above and beyond, there's no better tool to help you do just that than <a href="https://pro.benzinga.com/">Benzinga Pro</a>. Start your free trial today.
SOFI Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, SoFi Technologies shares are up 3.91% at $7.71 at the time of publication Wednesday.
Read Also:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/40051630/match-group-stock-climbs-on-strong-q2-results-hinge-revenue-up-48">Match Group Stock Climbs On Strong Q2 Results, Hinge Revenue Up 48%</a></li>
</ul>
Image: Shutterstock

Earnings

Movers

SOFI

What's Going On With SoFi Stock After Earnings?

Piper Sandler analyst Arvind Ramnani upgrades Dayforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAY#NYSE">DAY</a>) from Neutral to Overweight and raises the price target from $68 to $71.

Upgrades

Piper Sandler Upgrades Dayforce to Overweight, Raises Price Target to $71

Former United States President Donald Trump has launched a line of limited-edition Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)-themed sneakers following his <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40070328/trump-raises-25m-at-bitcoin-conference-in-nashville-second-highest-fundraiser-across-campa">keynote address at the Bitcoin 2024 conference. </a>
What Happened: This development marks a significant shift in the intersection of political campaigning and digital asset promotion, The Block <a href="https://www.theblock.co/post/308565/donald-trump-selling-bitcoin-sneakers-after-keynote-speech-at-bitcoin-2024?utm_source=rss&amp;utm_medium=rss">reported</a>.
Trump, the Republican candidate for the upcoming presidential election, delivered a speech at the conference on Saturday, where he made bold promises regarding cryptocurrency policy should he be re-elected. 
These included pledges <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40018935/trumps-bitcoin-conference-pledge-can-he-really-fire-sec-chair-gensler">to dismiss</a> the current Securities and Exchange Commission (SEC) Chairman, Gary Gensler, and to halt the United States&#8217; Bitcoin sales in favor of establishing a &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39975390/trumps-bitcoin-support-a-political-no-brainer-to-garner-votes-says-peter-schiff-promise-to">strategic Bitcoin reserve.</a>&#8220;
Following the conference, the former president took to his social media platform, Truth Social, to announce the release of the Bitcoin sneakers. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40071441/inflated-solana-metrics-mean-its-overvalued-compared-to-ethereum-report-claims">Inflated Solana Metrics Mean It&#8217;s &#8216;Overvalued&#8217; Compared To Ethereum, Report Claims</a>
&#8220;These are Limited Edition, they are each numbered, and you can now pay with Bitcoin or your favorite Crypto,&#8221; Trump stated in his post, directly linking the product launch to his conference appearance.
This latest venture into cryptocurrency-related merchandise follows Trump&#8217;s previous forays into the digital asset space, including his campaign&#8217;s acceptance of <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38952866/trump-accepts-cryptocurrency-donations-in-bitcoin-ethereum-shiba-inu-dogecoin-and-more-say">political donations</a> in various cryptocurrencies and <a href="https://www.benzinga.com/markets/cryptocurrency/23/10/35100775/donald-trumps-second-nft-sales-skyrocket-350-amid-buzz-surrounding-ex-president-becoming-h">his association</a> with non-fungible token (NFT) collections featuring his likeness.
The timing of this announcement is particularly noteworthy as it precedes Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event scheduled for Nov. 19.
Read Next:
<ul>
<li><a style="font-weight: bold;" href="https://www.benzinga.com/markets/cryptocurrency/24/07/40066426/sec-charges-bitclout-founder-with-257m-crypto-fraud-scheme">SEC Charges BitClout Founder With $257M Crypto Fraud Scheme</a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

Trump Launches Limited Edition Bitcoin-Themed Sneakers Following Bitcoin 2024 Keynote: Report

<a href="https://www.youtube.com/watch?v=ceWX6dbED6w" title="https://www.youtube.com/watch?v=ceWX6dbED6w">https://www.youtube.com/watch?v=ceWX6dbED6w</a>

Macro Notification

iShares MSCI Israel Capped Investable Market Index Fund

US Confident It Can Still Communicate With Hamas, Says State Dept.; State Department Spokesman Vedant Patel Briefs Reporters

Benchmark analyst Mark Miller reiterates Advanced Energy Indus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEIS#NASDAQ">AEIS</a>) with a Buy and maintains $117 price target.

AEIS

Benchmark Reiterates Buy on Advanced Energy Indus, Maintains $117 Price Target

Benchmark analyst Mark Miller downgrades IPG Photonics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPGP#NASDAQ">IPGP</a>) from Buy to Hold.

Downgrades

IPGP

Benchmark Downgrades IPG Photonics to Hold

Benchmark analyst Fawne Jiang maintains iQIYI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IQ#NASDAQ">IQ</a>) with a Buy and lowers the price target from $9 to $5.

Benchmark Maintains Buy on iQIYI, Lowers Price Target to $5

QUALCOMM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) shares, along with other chip-related stocks, are moving higher Wednesday in sympathy with Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) which reported better-than-expected 2024 fiscal year second quarter <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40069119/can-amd-stock-hit-180-ai-growth-fuels-data-center-dominance-over-intel">earnings on Tuesday</a>.
What Happened: AMD reported EPS of 69 cents beating analyst estimates of 68 cents and revenue of $5.83 billion beating analyst estimates of $5.72 billion.
Revenue from AMD&#8217;s data center segment was $2.8 billion, a record high that represents a 115% year-over-year growth.
AMD sees third quarter revenue between $6.4 billion and $7 billion versus analyst estimates of $6.61 billion.
QUALCOMM is set to release its third quarter fiscal earnings on Wednesday after the market closes. Analyst estimates EPS of $2.25 and revenue of $9.21 billion.
What Else: Some stocks in the chip sector might be <a href="https://www.benzinga.com/markets/equities/24/07/40075799/semiconductor-stocks-set-for-strongest-day-in-5-months-as-chip-export-concerns-subside-top-wedne">climbing </a>as a result of recent reports regarding a new Biden administration rule on foreign chip <a href="https://www.benzinga.com/news/24/07/40073760/why-asml-stock-is-climbing-today">equipment exports to China</a>. According to Reuters, the new rule would expand U.S. authority to block the export of semiconductor manufacturing tools from some foreign nations to Chinese chipmakers.
Chinese foreign ministry spokesperson Lin Jian told Reuters that efforts by the U.S. to &#8220;coerce other countries into suppressing China&#8217;s semiconductor industry&#8221; undermines global trade and hurts all parties.
The spokesperson also stated, &#8220;Containment and suppression cannot stop China&#8217;s development, but will only enhance China&#8217;s determination and ability to develop its scientific and technological self-reliance.&#8221;
Certain countries may be exempt from the rule, including Japan, the Netherlands and South Korea. The Biden administration is anticipated to release the rule next month.
Related Link: <a href="https://www.benzinga.com/news/24/07/40070716/meta-slammed-for-reportedly-profiting-from-ads-promoting-illegal-drugs">Meta Slammed For Reportedly Profiting From Ads Promoting Illegal Drugs</a>
QCOM Price Action: At the time of publication, QUALCOMM shares are trading 5.24% higher at $175.69 per data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Photo via Shuttershock

QCOM

What's Going On With QUALCOMM Shares Wednesday?

The performance of Microsoft Corporation's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Azure cloud segment and future artificial intelligence initiatives are keys to the stock for analysts after <a href="https://www.benzinga.com/news/earnings/24/07/40051051/microsoft-q4-earnings-highlights-revenue-beat-eps-beat-cloud-revenue-up-21-yoy-ensuring-we-lead-the">fourth-quarter financial results.</a>
While Azure and AI got the headlines, one analyst was surprised by the lack of color on the impact the Microsoft Outage caused by a CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) update could have in the future. 
<h3 class="wp-block-heading">The Microsoft Analysts</h3>
<ul>
<li>Goldman Sachs analyst Kash Rangan reiterated a Buy rating and $515 price target.</li>
<li>Oppenheimer analyst Timothy Horan reiterated an Outperform rating and $500 price target.</li>
<li>Stifel analyst Brad Reback reiterated a Buy rating and $475 price target.</li>
<li>BMO Capital analyst Keith Bachman reiterated an Outperform rating and $500 price target.</li>
<li>Truist analyst Joel Fishbein reiterated a Buy rating and $600 price target.</li>
<li>JPMorgan analyst Mark Murphy reiterated an Overweight rating and $470 price target.</li>
<li>KeyBanc analyst Jackson Ader reiterated an Overweight rating and $490 price target.</li>
<li>Piper Sandler analyst Brent Bracelin reiterated an Overweight rating and $485 price target.</li>
</ul>
Goldman Sachs: Strong early demand signal for Microsoft products justifies a ramp of spending, Rangan said.
Microsoft Azure's lower-than-expected growth, higher CapEx and soft guidance are less in focus Wednesday. The company's earnings call showed guidance for Azure in the first half of the next fiscal year and optimism for generative AI products.
"The anticipated uptick in CapEx is unlikely to sway MSFT away from its consistent Op Inc growth target, though may come at the expense of FCF growth more than we initially thought," Rangan said.
The analyst said Microsoft can capitalize on "a number of long-term secular trends" including generative AI, cloud consumption and digital transformation.
Read Also: <a href="https://www.benzinga.com/news/24/07/40061358/satya-nadella-says-microsofts-copilot-drives-40-of-githubs-revenue-growth-we-are-also-enabling-anyon">Satya Nadella Says Microsoft&#8217;s Copilot Drives 40% Of GitHub&#8217;s Revenue Growth: We Are Also &#8216;Enabling Anyone To Use Natural Language To Create Apps…&#8217;</a>
Oppenheimer: Weaker than expected Azure revenue in the fourth quarter could have been due to supply constraints, Horan said.
"Azure saw pushout in revenue on some supply constraints, but also as enterprises curate their data," Horan said.
The analyst said Microsoft can revisit its "PC-era-type dominance" with AI for enterprises.
Horan said capex spending will remain elevated to support future demand for AI and cloud offerings.
"The company remained very optimistic about AI demand and Copilot in particular," Horan said.
Azure AI ended the quarter with over 60,000 users, up 60% year-over-year. The company also reported that average spending per Azure AI customer is growing.
Stifel: Shares selling off after-hours is "short-term noise," Reback said in a new investor note.
The analyst said investors should focus on the "longer-term acceleration" for Microsoft.
"While the supply constraints and European consumption weakness create some near-term uncertainty, we believe the commercial bookings growth points to sustained revenue gains/free cash flow growth for years to come," Reback said.
BMO Capital: There were a few positives in the fourth quarter including free cash flow generation and upside for the Productivity and Business Processes, and More Personal Computing business segments, Bachman said.
Bachman said Microsoft missing on Azure guidance was the key takeaway and guidance for the future could also be viewed as disappointing for investors.
"Management noted that Azure growth will accelerate in 2HFY25, helped by reduced capacity constraints, which we think will be well-received by investors," Bachman said.
Microsoft's Azure business had beat estimates in the last three quarters and hadn't missed since the September 2022 quarter, the analyst added.
"We think Azure has a solid pipeline and note that AI still has a long runway ahead."
Truist: Capacity constraints in AI and weakness in Europe led to lower Azure growth, Fishbein said.
The analyst said demand signals remain strong for Microsoft going forward and non-Azure items saw strong performance in the quarter.
"There were many positive demand indicators for their family of Copilot products and AI services that management highlighted on the call spurring their continued path of increased capital and knowledge investments," Fishbein said.
Microsoft is "leveraging their AI footprint" for their portfolio of products, the analyst added.
"We continue to believe that we are in the very early innings of the rollout of generative AI apps."
Fishbein was surprised that Microsoft didn't provide more commentary on the outage caused by CrowdStrike.
"Ramification from global IT outage caused by CrowdStrike remains to be seen."
The analyst said there could be future settlements and discounts to customers.
JPMorgan: Lower Azure revenue growth may have been expected ahead of earnings Murphy said.
The analyst said survey research shows that Azure product momentum ratings had dropped before the quarterly results.
"We don't think investors were prepared to see Azure deceleration at this juncture because of the perceived improvement in optimizations and cloud migrations," Murphy said.
The analyst said the long-term growth for Azure and AI is clear.
"We believe Microsoft's AI momentum remains intact and long-term trajectory unperturbed."
Microsoft is in the "pole position" for the mega-trend of AI, the analyst added.
KeyBanc: Azure revenue, higher capex and a lack of acceleration for Office 365 Commercial revenue were three disappointments in the fourth quarter for Ader.
"Azure remains capacity-constrained on the AI front, which gives that line item some wiggle room as we wait for the expected acceleration in the second half of the year," Ader said.
The analyst said there is a level of trust for investors with Microsoft stock.
"Trust that AI will deliver on its promises, trust that assets aren't as fixed as they seem, trust that management would be willing to adapt under changing facts."
Piper Sandler: Record bookings in the fourth quarter could be greater than the disappointing Azure consumption, Bracelin said in a new investor note.
"The 3% AMC (after market close) sell-off in MSFT shares on Azure growth moderating slightly to 30% CC (constant currency) coupled with a $19B capex+lease investment shows the hypersensitivity to an AI overbuild narrative," Bracelin said.
The analyst said Microsoft had many positives in the quarter including record bookings of $10 million and $100 million in size, strong operating cash flow, AI demand ahead of capacity, and capex being used on "long-life assets" for future growth.
"We would be buyers on the weakness in MSFT."
MSFT Price Action: Microsoft shares are down 2% to $416.31 on Wednesday versus a 52-week trading range of $309.45 to $468.35.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/40060524/microsoft-to-offer-one-time-cash-reward-to-employees-worth-up-to-25-of-their-bonus-after-q4-earn">Microsoft To Offer One-Time Cash Reward To Employees Worth Up To 25% Of Their Bonus, After Q4 Earnings Beat Estimates: Report</a></li>
</ul>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="&#x1f534;WATCH LIVE: Microsoft Q4 2024 Earnings Call &#x7C; $MSFT" width="500" height="281" src="https://www.youtube.com/embed/Cb_WyMkkhBQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>

Analyst Color

CRWD

MSFT

Microsoft Stock Slide From Azure Weakness Brushed Off By Analysts: 'Azure Has Solid Pipeline, AI Has Long Runaway Ahead'

Benchmark analyst Bill Sutherland reiterates Huron Consulting Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HURN#NASDAQ">HURN</a>) with a Buy and maintains $140 price target.

HURN

Benchmark Reiterates Buy on Huron Consulting Gr, Maintains $140 Price Target

eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) will release its second quarter financial results, after the <a href="https://www.benzinga.com/quote/EBAY/earnings">closing bell on Wednesday, July 31</a>.
Analysts expect the San Jose, California-based company to report quarterly earnings at $1.13 per share, up from $1.03 per share in the year-ago period. Starbucks expects to post revenue of $2.53 billion, compared to $2.51 billion a year ago, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On May 1, eBay posted better-than-expected first-quarter results.
eBay shares gained 1.5% to close at $55.40 on Tuesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/EBAY/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/596f57cb35f48b00011db3ec/deepak-mathivanan">Wolfe Research analyst Deepak Mathivanan</a> initiated coverage on the stock with a Peer Perform rating on July 16. This analyst has an accuracy rate of 80%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/591479b8290fa7000138e4b4/doug-anmuth">JP Morgan analyst Doug Anmuth</a> reinstated a Neutral rating with a price target of $60 on June 25. This analyst has an accuracy rate of 84%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58d3cdb7b85e930001808a59/daniel-kurnos">Benchmark analyst Daniel Kurnos</a> reiterated a Buy rating with a price target of $58 on June 17. This analyst has an accuracy rate of 73%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58933b2143eaaa0001698f52/colin-sebastian">Baird analyst Colin Sebastian</a> maintained an Outperform rating and raised the price target from $57 to $58 on June 17. This analyst has an accuracy rate of 77%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58bd551cb85e930001592b02/youssef-squali">Truist Securities analyst Youssef Squali</a> maintained a Hold rating and boosted the price target from $48 to $50 on May 6. This analyst has an accuracy rate of 80%.</li>
</ul>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/40039797/top-3-health-care-stocks-you-may-want-to-dump-this-quarter">Top 3 Health Care Stocks You May Want To Dump This Quarter</a></li>
</ul>

Markets

EBAY

eBay Likely To Report Higher Q2 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Benchmark analyst Mike Hickey maintains Electronic Arts (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) with a Buy and raises the price target from $153 to $163.

Benchmark Maintains Buy on Electronic Arts, Raises Price Target to $163

U.S. stocks were higher, with the Dow Jones index gaining over 200 points on Wednesday.
Shares of Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) surged 15% to $38.74 after the company reported better-than-expected second-quarter revenue results and issued str<a href="https://www.benzinga.com/news/earnings/24/07/40051630/match-group-stock-climbs-on-strong-q2-results-hinge-revenue-up-48">ong third-quarter revenue guidance</a>.
Match Group reported quarterly earnings of 48 cents per share, in-line with the analyst consensus estimate. Quarterly sales clocked in at $864 million which beat the analyst consensus estimate of $856.4 million and is a 4.15% increase from the same period last year.
Match Group surged 15% to $38.74 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Powell Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWL#NASDAQ">POWL</a>) jumped 33.2% to $177.43 after the company reported better-than-expected Q3 GAAP EPS and sales.</li>
<li>Stardust Power Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SDST#NASDAQ">SDST</a>) shares surged 23.9% to $14.65.</li>
<li>Modine Manufacturing Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOD#NYSE">MOD</a>) surged 20.2% to $118.85 after the company reported better-than-expected&nbsp;first-quarter&nbsp;financial results.</li>
<li>Cassava Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAVA#NASDAQ">SAVA</a>) surged 19.6% to $21.01.</li>
<li>Fiverr International Ltd.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FVRR#NYSE">FVRR</a>) jumped 18.5% to $25.94 after the company reported better-than-expected second-quarter financial results.</li>
<li>Parsons Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSN#NYSE">PSN</a>) gained 16.4% to $89.82 after the company reported better-than-expected second-quarter financial results and raised its FY24 revenue guidance above estimates.</li>
<li>Talen Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TLN#NYSE">TLN</a>) rose 13.6% to $125.98.</li>
<li>The Scotts Miracle-Gro Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMG#NYSE">SMG</a>) jumped 12.7% to $79.17 following better-than-expected quarterly financial results.</li>
<li>Caesars Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>) gained 12.6% to $41.56 following second-quarter earnings.</li>
<li>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) jumped 11.1% to $187.41.</li>
<li>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) gained 11% to $115.04.</li>
<li>Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) rose 8.8% to $338.70 as the company reported better-than-expected second-quarter financial results and raised its third-quarter revenue guidance.</li>
<li>Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) gained 8.7% to $17.84 after the company reported better-than-expected quarterly financial results and issued FY24 guidance.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40068197/jim-cramer-says-this-home-improvement-chain-is-a-buy-ahead-of-fed-rate-cut-cycle-i-would">Jim Cramer Says This Home Improvement Chain Is A Buy Ahead Of Fed Rate Cut Cycle: &#8216;I Would Pick Some Up Tomorrow&#8217;</a></li>
</ul>

The Only Monthly Membership With a Positive ROI!

-

-

-

-

-

-

-

The Only Monthly Membership With a Positive ROI!

-

-

-

-

-

-

-

Comments

Brookfield DTLA Fund

News

Latest news for Brookfield DTLA Fund (OTC:DTLAP) Stock