B. Riley adds Riot Blockchain to '25 for 2022' pick list, removes Stronghold 07:09 RIOT, SDIG B. Riley analyst Lucas Pipes reiterates a Buy rating on Riot Blockchain (RIOT) with a $16 price target and adds the shares to the firm's "25 for 2022" pick list. Stronghold Digital Mining (SDIG) is no longer on the list, but the analyst reiterates a Buy rating on the shares with a $5 price target. Pipes believe Riot's current operating footprint, along with planned expansions and execution to date, "represent the best combination of growth and value" within his coverage. The company has been proactive towards improving its cost structure, as seen from its announcement to transition miners from Coinmint's facility to Riot's own facilities in Texas, Pipes tells investors in a research note.
Archer Daniels expects 'very strong' earnings in second half 07:05 ADM "Looking forward, we… GBA upgeade- ADM Archer Daniels reports Q2 adjusted EPS $2.15, consensus $1.71 07:04 ADM Reports Q2 revenue $27.28B, consensus $25.16B. "Our second quarter adjusted earnings per share of $2.15 reflect our team's strong execution, delivering nutrition to billions of people around the globe," said chairman and CEO Juan Luciano. "In addition, our productivity initiatives are improving our capabilities and mitigating the impact of inflation, while our innovation projects are powering profitable growth, as we leverage our unique portfolio and globally integrated network to meet demand driven by the three enduring global trends of food security, health and well-being, and sustainability."
OH THIS IS WHY- Coca-Cola sees 9%-10% currency headwind to Q3 adjusted EPS growth Graphic Packaging raises FY22 adjusted EPS view to $2.00-$2.25 from $1.75-$2.25 06:39 GPK Raises FY22 reve Raymond James starts Roku at Market Perform on less favorable near-term 06:39 ROKU Raymond James analyst Aaron Kessler initiated coverage of Roku with a Market Perform rating and no price target. The analyst is positive on the company's fundamentals, saying connected TV reach has surpassed linear TV with advertising budgets expected to follow. Roku is well positioned as the market leading TV operating system in North America with a proven strategy to grow internationally, Kessler tells investors in a research note. However, the analyst believes Roku's near-term risk/reward is "less favorable," as macro headwinds could impact the company's advertising business and margins will be under pressure as the company accelerates investments.
STOCK OF THE DAY- Graphic Packaging reports Q2 adjusted EPS 60c vs. 29c last year 06:36 GPK Reports Q2 revenue $2.36B, consensus $2.22B.
GE likely to push out $1B of free cash flow into the future 06:27 GE GE said: "GE continues to trend toward the low end of its 2022 outlook on all metrics except free cash flow. Working capital will be pressured as GE protects customers from the impact of supply chain challenges, as well as Renewable Energy-related orders, which together are likely to push out approximately $1 billion of free cash flow into the future." CleanSpark assumed with a Buy at H.C. Wainwright 06:07 CLSK H.C. Wainwright analyst Mike Colonnese assumed coverage of CleanSpark with a Buy rating and $6 price target, which represents nearly 50% upside to current levels. The analyst believes the stock's risk/reward profile is "very favorable at current levels," with the stock down 57% year-to-date. CleanSpark ranks in the top five of publicly traded bitcoin miners, yet the company trades at a significant discount to peers on a price-to-active- hash rate basis, says the analyst. Ionis Pharmaceuticals price target raised to $58 from $55 at Piper Sandler 06:04 IONS Piper Sandler analyst Do… General Motors reports Q2 adjusted EPS $1.14, consensus $1.30 06:03 GM Reports Q2 revenue $35.78B, consensus $34.59B.
UPS backs FY22 revenue view $102B, consensus $102.11B 06:01 UPS 2nd STOCK OF THE DAY- SENSATA Sensata reports Q2 adjusted EPS 83c, consensus 84c 06:01 ST Reports Q2 revenue $1.020B, consensus $969.47M. "Sensata delivered record revenue in the Q2, with results in line with guidance despite significant market, supply chain, and foreign currency headwinds. Sensata's organic revenue growth outpaced underlying markets by 650 basis points and we delivered growth from acquisitions of 280 basis points, offsetting end market declines compared to the prior-year quarter," said Jeff Cote, CEO and President of Sensata. "In addition, during the quarter the Company was awarded its largest ever design win for a new electric vehicle battery disconnect system for a major North American OEM, further demonstrating Sensata's ability to capitalize on our electrification strategy to grow through new product design and new market opportunities."
Roku downgraded to Underperform from Peer Perform at Wolfe Research 06:00 ROKU Wolfe Research analyst Peter Supino downgraded Roku to Underperform from Peer Perform with a $77 price target. The company's net subscriber additions and average revenue per user are "face mounting challenges," Supino tells investors in a research note. He reduced his 2022 net add estimates to reflect falling conversion of hardware sales to new accounts, ongoing supply chain constraints and inflationary pressure on consumer spend. Roku is in a "catch-22" between investing now to set up future global expansion and content acquisition opportunities or scale back investments until the macro pressures abate, Supino tells investors in a research note. Century Casinos initiated with an Outperform at JMP Securities 05:48 CNTY JMP Securities analyst… Alvotech initiated with a Buy at Citi 05:40 ALVO Howard Hughes initiated with an Outperform at BMO Capital 05:34 HHC BMO Capital analyst John… Keros Therapeutics initiated with a Buy at BTIG 05:20 KROS BTIG analyst Julian Harrison initiated coverage of Keros Therapeutics (KROS) with a Buy rating and $80 price target. The analyst sees "compelling reasons" to expect the company's activin receptor ligand traps to become best-in-class. That potential currently trades at a "deep discount" relative to Acceleron's $11.5B acquisition by Merck (MRK) in late 2021, Harrison tells investors in a research note. He says the acquisition underscores the "game-changing potential" of activin receptor ligand traps in pulmonary hypertension. Bentley Systems sells Streetlytics mobility data business, invests in Teralytics 05:18 BSY Teralytics announced it… HeidelbergCement downgraded to Neutral from Outperform at Exane BNP Paribas 04:56 HDELY Exane BNP Paribas analyst…
Disney price target lowered to $130 from $148 at Goldman Sachs 04:45 DIS Goldman Sachs analyst Brett Feldman lowered the firm's price target on Disney to $130 from $148 and keeps a Buy rating on the shares. The analyst reduced linear TV advertising revenue forecasts across his media coverage to reflect a potential economic slowdown. The revisions align with the pressures Feldman anticipates based on the historical relationship between macro economic trends and TV advertising.