Shares of organ transplant innovator TransMedics Group (TMDX -4.00%) fell 15.7% through Thursday trading, according to data from S&P Global Market Intelligence.TransMedics was the target of an activist short-seller late last week, and on Monday of this week, the company responded to the accusations at an industry health conference.While the stock initially bounced back a bit after the conference, it continued to fall through the week, as investors still appear to be skittish over the controversy.Scorpion at ...

Earnings Performance - Fastenal reported Q4 net income of $262.1 million, or $0.46 per share, on $1.82 billion in sales, missing analysts' consensus estimates [2] - Sales increased 3.7% YoY, but net daily sales rose only 2.1% after adjusting for an extra selling day compared to 2023 [2][4] - Profit declined 1.6% YoY [2][4] Market Reaction - Fastenal shares dropped nearly 5% in premarket trading following the earnings miss [4] - Despite the drop, shares were up about 18% over the past 12 months through Thursday's close [4] Sales Challenges - Sales growth was impacted by a "soft manufacturing environment" throughout much of 2024 [3] - Unusually sharp production cuts by customers in late December due to holiday factory closures negatively affected sales [3] - Foreign exchange rates had a negative impact on sales compared to a positive impact in the prior year [3]

Wells Fargo & Company (WFC) Analysis - The stock was rated a "Buy" a year ago ahead of its Q4 2023 earnings report, despite expected rate cuts in 2024, due to its appeal for long-term investors focusing on dividends (DGI and DRIP) and growth at a reasonable price (GARP) [1] - The stock is considered suitable for both serious long-term investments and short-term trading opportunities [1] Analyst's Position and Disclosure - The analyst holds a beneficial long position in WFC through stock ownership, options, or other derivatives [2] - The article reflects the analyst's personal opinions and is not influenced by compensation or business relationships with the mentioned company [2] Seeking Alpha's Disclosure - Seeking Alpha emphasizes that past performance does not guarantee future results and does not provide specific investment recommendations [3] - The views expressed in the article may not represent those of Seeking Alpha as a whole, and the platform is not a licensed securities dealer, broker, or investment adviser [3]

Shares of Apple fell after it reported iPhone sales were losing market share in China. (Photo by ... [+] Scott Barbour/Getty Images)Getty ImagesKey Takeaways Stocks Show Resilience Despite Apple’s Drop And Concentration Risks Oil Prices Near Key Threshold, Potential Inflationary Pressure Builds Regional Banks Shine With Strong Earnings, Boosting Financial SectorDespite stocks closing relatively unchanged on Thursday, stocks are on pace for their best week since early November with the S&P 500 higher by near ...

Shares of Salesforce and Cloudflare are reacting positively to new "buy" ratingsCloud-software stocks Salesforce Inc (NYSE:CRM) and Cloudflare Inc (NYSE:NET) are getting bullish attention today.TD Cowen upgraded Salesforce stock to "buy" from "hold" and raised its price target to $400 from $380, citing a "compelling entry point" after the stock’s 8.8% pullback over the past month. In response, CRM is up 2.2% premarket, as it looks to reclaim its Dec. 4 all-time high of $369.Meanwhile, Cloudflare stock is up ...

Earnings Performance - Adjusted EPS for Q4 2024 was 43 cents, beating the Zacks Consensus Estimate of 38 cents and up from 32 cents in the year-ago quarter [1] - Full-year 2024 adjusted EPS was $1.55, surpassing the Zacks Consensus Estimate of $1.5 and up from $1.43 in the previous year [2] - Net income available to common shareholders (GAAP basis) was $158 million for Q4 2024, down 9.7% YoY, and $738 million for full-year 2024, down 14.7% YoY [3] Revenue and Expenses - Total quarterly revenues were $729 million, down 8.9% YoY and missing the Zacks Consensus Estimate of $822.47 million [4] - Full-year revenues were $3.19 billion, down 8% YoY and missing the Zacks Consensus Estimate of $3.28 billion [4] - NII increased 2.1% YoY to $630 million, with a net interest margin of 3.33%, up 6 basis points from the prior-year quarter [4] - Non-interest income declined 45.9% YoY to $99 million, primarily due to a $91 million securities loss [5] - Non-interest expenses decreased 11.2% YoY to $508 million, driven by lower incentives, commission fees, and deferred compensation expenses [5] - Efficiency ratio improved to 61.98%, down from 71.14% in the year-ago period, indicating higher profitability [5] Loans, Deposits, and Credit Quality - Total period-end loans and leases were $62.55 billion, up marginally from the previous quarter, while total period-end deposits decreased 1.5% to $65.6 billion [6] - Non-performing loans and leases increased 30.3% YoY to $602 million [7] - The ratio of total allowance for loan and lease losses to loans and leases was 1.3%, up from 1.26% in the prior-year quarter, with the allowance increasing 5.4% YoY to $815 million [7] - Net charge-offs decreased 63.9% YoY to $13 million, and the provision for credit losses plunged 80% YoY to $10 million [8] Capital Position and Share Repurchases - Common Equity Tier 1 ratio was 11.2%, down from 11.4% in the year-ago quarter [10] - Total capital ratio was 13.9%, down from 14% in the prior-year quarter, and the tier 1 leverage ratio was 10.6%, down from 10.7% [10] - The company repurchased $163 million worth of common stock in the reported quarter [11] Industry Updates - Prosperity Bancshares, Inc (PB) is scheduled to release Q4 2024 earnings on Jan 29, with a Zacks Rank 3 (Hold) and a consensus estimate of $1.33 per share [13] - Cullen/Frost Bankers, Inc (CFR) is scheduled to release Q4 2024 earnings on Jan 30, with a Zacks Rank 2 (Buy) and a consensus estimate of $2.15 per share [13][14]

Bank OZK’s (OZK) fourth-quarter 2024 earnings per share of $1.56 handily surpassed the Zacks Consensus Estimate of $1.45. The bottom line reflects a rise of 4% from the prior-year quarter’s actual.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Results benefited from a rise in net interest income (NII), driven by improvement in loans and deposit balances. Lower non-interest expenses and provisions were also positives. However, lower non-interest income and rising funding costs were ...

Earnings Performance - State Street Corporation reported quarterly earnings of $2 60 per share, beating the Zacks Consensus Estimate of $2 42 per share, representing a 7 44% earnings surprise [1] - The company's earnings per share (EPS) increased from $2 04 a year ago to $2 60, reflecting strong year-over-year growth [1] - Over the last four quarters, the company has consistently surpassed consensus EPS estimates [2] Revenue Performance - State Street posted revenues of $3 41 billion for the quarter ended December 2024, exceeding the Zacks Consensus Estimate by 3 17% [2] - Year-over-year revenue growth was notable, increasing from $3 04 billion to $3 41 billion [2] - The company has topped consensus revenue estimates in each of the last four quarters [2] Stock Performance and Market Comparison - State Street shares have gained approximately 2 4% since the beginning of the year, outperforming the S&P 500's gain of 1% [3] - The stock's immediate price movement will depend on management's commentary during the earnings call [3] Earnings Outlook and Estimate Revisions - The current consensus EPS estimate for the coming quarter is $1 94 on $3 27 billion in revenues, while the fiscal year estimate is $9 55 on $13 39 billion in revenues [7] - The estimate revisions trend for State Street is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected market-aligned performance [6] - Empirical research highlights a strong correlation between near-term stock movements and earnings estimate revisions [5] Industry Context - State Street operates in the Zacks Banks - Major Regional industry, which is currently ranked in the top 26% of over 250 Zacks industries [8] - The top 50% of Zacks-ranked industries historically outperform the bottom 50% by more than 2 to 1 [8] Peer Comparison - Fifth Third Bancorp (FITB), another company in the same industry, is expected to report quarterly earnings of $0 87 per share, reflecting a year-over-year decline of 12 1% [9] - Fifth Third Bancorp's revenue is projected at $2 21 billion, up 2 4% from the year-ago quarter [10] - The consensus EPS estimate for Fifth Third Bancorp has been revised 0 3% higher over the last 30 days [9]

Earnings and Revenue Performance - Truist Financial's Q4 2024 adjusted diluted EPS of $0.91 beat analysts' estimate of $0.88, representing a 12.3% YoY increase [1][3] - Revenue for Q4 2024 reached $5.11 billion, exceeding the expected $5.04 billion and showing a 3.4% YoY growth [1][3] - Net interest income increased by 1.7% YoY to $3.64 billion, while noninterest income rose 7.9% YoY, driven by investment banking and trading revenue [3][6] Expense Management and Profitability - Noninterest expenses increased by 3.7% QoQ and 4% on an adjusted basis, reflecting higher technology and risk infrastructure investments [7] - The net interest margin (NIM) decreased by five basis points QoQ, indicating potential pressure from anticipated rate changes [7] - Management expects adjusted expenses to decrease by 3% in Q1 2025 compared to Q4 2024, with full-year 2025 adjusted expense growth projected at up to 1.5% [10][11] Lending and Asset Quality - Average loans and leases held for investment remained flat, with consumer loans growing 1.2% while commercial loans declined 0.8% [8] - Residential mortgages and auto loans showed growth, offsetting declines in commercial industrial and real estate portfolios [8] - The CET1 ratio improved to 11.5%, up 1.4 percentage points YoY, reflecting strong capitalization [3][8] Strategic Focus and Outlook - Truist Financial maintains a strong market position in high-growth regions like Florida and Georgia, with a focus on digital innovation and technological development [4] - The company plans $500 million in share repurchases for Q4 2024 and aims to enhance digital services to attract new clients [9][11] - Management projects 2025 adjusted revenue growth of 3% to 3.5% and a net charge-off ratio of 60 bps, with cautious optimism for profitability [10][11] Regulatory and Competitive Environment - As a Category III banking organization, Truist faces enhanced prudential standards and capital requirements, which are critical for sustaining operations and strategic expansions [5] - The company continues to navigate a complex regulatory environment while maintaining disciplined capital management and exploring potential mergers and acquisitions [5][12]

Apple has suspended AI-generated summaries of news notifications after some were criticised for being misleading and false.Many publishers flagged up errors in the way the feature had worded their original push notifications. The National Union of Journalists told Sky News earlier this week it wasn't "fit for purpose" and should be taken down. Reporters Without Borders warned it was a "danger to the public's right to reliable information" and could damage the reputation of news organisations.Notifications f ...