PepsiCo, Inc. reported third-quarter results Wednesday that were ahead of expectations and raised its outlook for the full year. The company’s sales grew 8.8 percent year-over-year to $21.97 billion, topping the consensus estimate of $20.81 billion, while core earnings grew 10.05 percent to $1.97 per share, exceeding expectations of $1.84 per share. Here’s what the…

Microsoft Corp. on Thursday updated its Q4 and FY23 guidance due to recent unfavorable currency headwinds. Microsoft cited an incremental $460 million headwind from FX to its total revenue guidance issued in late April, representing slightly less than a 100bps delta on total revenue. Microsoft now expects revenue of $51.94 billion–$52.74 billion in Q4 (down ~1…

Analysts lauded Splunk Inc. post Q1 beat. Credit Suisse analyst Phil Winslow maintained Splunk with an Outperform and lowered the price target from $225 to $180 (82.3 percent upside). Winslow remains optimistic about the company’s business trajectory and the strategic importance of Splunk, as evidenced by (1) regular total ARR and Cloud ARR growth and net expansion rates and (2)…

Analysts lauded Marvell Technology Inc. (MRVL) post Q1 beat. Rosenblattanalyst Hans Mosesmann reiterated Buy on Marvell with a price target of $125 (112 percent upside). Another beat and raise for Marvell on broad-based infrastructure demand with data center being the key driver. Once again, and surprisingly, delinquencies continue to grow in the reported quarter despite increased supply execution. Critically,…

Analysts maintained their conviction on Mastercard Incorporated post Q1 results. Despite Mastercard’s 1Q22 10 percent broad-based beat, Barclays analyst James Fotheringham lowered estimates marginally (by as much as 2 percent) due to revenue headwinds expected from exiting Russia. Fotheringham also cut the target price to $402 (from $412) and rated the stock as Outperform. The revised 2022E guidance…

Analysts had mixed views on Verizon Communications Inc. post Q4 earnings. Deutsche Bank analyst Bryan Kraft raised the price target on Verizon to $59 from $57 (15 percent upside) and reiterated a Hold rating on the shares. The analyst sees about 8 percent upside in the stock over the next 12 months, with the target increasing on higher out…

Analysts were divided on their opinions on Netflix Inc. ahead of its quarterly results this week. KeyBanc analyst Justin Patterson notes that Netflix’s price increase was more significant than anticipated, which he believes implies a 1 percent lift to his/Street 2022 revenue. Nonetheless, the analyst has unchanged estimates due to the proximity of earnings, which should shed light…

Analysts lifted their price targets on Broadcom Inc., citing deal prospects and demand for its products. Goldman Sachs maintained a Buy and raised the price target from $589 to $670 (7.8 percent upside). Barclays analyst Blayne Curtis raised the price target to $650 from $540 (4.6 percent upside) and kept an Overweight. The company’s next…