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Home Blog Page 8598

APA Corporation’s Review Post Q4 Earnings

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Analysts at RBC Capital provided an update on APA Corporation (NASDAQ:APA), post Q4 results. According to the analysts, the company has among the highest potential for incremental shareholder returns (focused on buybacks) given its high free cash flow yield and upside exposure to oil prices. The company’s shares have lagged peers year-to-date, and the analysts think it is largely related to a clear direction on the Suriname assets.
Last month, the company announced its Q4/22 earnings and reiterated its previously announced 2023 capital budget target and provided the 2023 operations outlook. The $2.0-2.1 billion budget is primarily focused on the Permian, Egypt, and Suriname. Lower Q1/23 US production related to well completion timing is largely the variance to the analysts’ model in the early part of the year. Their 399 Mboe/d production forecast is below the company guidance related to their current higher commodity price outlook that causes a greater amount of tax barrels in Egypt.

Still No Upside for Starbucks Shares

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Oppenheimer analysts reiterated its Perform rating on Starbucks (NASDAQ:SBUX), but noted they are constantly searching for an opportunity to reinstate a bullish stance. After another exhaustive modeling analysis, they are unable to identify the upside to Street’s 2023/2024 EPS – a catalyst they require.
According to the analysts, management’s 2023 EPS guidance requires over 20% growth in H2/23, compared to a 6% growth in H1/23. This H2 acceleration is anticipated as China’s recovery unfolds and the Americas segment sustains double-digit EBIT growth. The consensus then assumes fiscal 2024 EPS grows by over 20%. However, the analysts still remain below consensus in 2023 and 2024. They tweak the 2023 EPS estimate to $3.37 from $3.39 and maintain their $4.00 estimate for 2024 (vs. Street’s $3.39/$4.07).

What to Expect From RH’s Upcoming Q4 Earnings?

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Analysts at Wedbush provided their outlook on RH (NYSE:RH) ahead of the upcoming Q4/22 earnings announcement on Wednesday. While the company has already indicated it expects Q4 results near the low end of its guidance range, the analysts expect that the company will point to a weak and uncertain demand environment when it provides its initial outlook for fiscal 2023, along with margin pressure from weak sales and elevated capitalized supply chain costs moving from the balance sheet to the income statement.
The analysts see more downside risk to the company compared to its competitors as its customer base skews toward higher-earning households that are seeing demand pressures from higher interest rates, a weakening luxury housing market, ongoing banking concerns, and a volatile stock market.
The analyst said they remain comfortable with their 2023 forecast calling for an 8% year-over-year revenue decline, compared to the consensus of a 4% decline. They expect 2023 EPS to be $16.23, compared to the consensus of $16.63.

PGA News: Golf Glance: Last Masters gasp at Valero Texas Open

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Field Level Media’s Golf Glance provides weekly news and storylines from each of the major North American golf tours.

PGA TOUR
LAST TOURNAMENT: WGC-Dell Technologies Match Play (Sam Burns)
THIS WEEK: Valero Texas Open, San Antonio, Texas, March 30-April 2
Course: TPC San Antonio, Oaks Course (Par 72, 7,438 yards)
Purse: $8.9M (Winner: $1.602M)
Defending Champion: J.J. Spaun
FedEx Cup leader: Jon Rahm
HOW TO FOLLOW
TV: Thursday-Friday, 4-7 p.m. ET (Golf Channel); Saturday, 1-3:30 p.m. (GC), 3:30-6 p.m. (NBC); Sunday, 1-2:30 p.m. (GC), 2:30-6 p.m. (NBC)
Streaming on ESPN+: Thursday-Friday, 8:30 a.m.-7 p.m. ET; Saturday-Sunday, 8:30 a.m.-6 p.m.
Twitter: @ValeroTXOpen
NOTES: Spaun earned his first PGA Tour victory in his 147th career start last year. The last player to successfully defend a Valspar title was Zach Johnson in 2009. … Players in the field who are not already eligible for the Masters must win this week in order to earn an invite to Augusta next week. That includes Rickie Fowler, while 11 players in this week’s 144-player field are already eligible for the Masters. … Lucas Glover will make his 500th career PGA Tour start. … Nicolai Hojgaard and Ricky Barnes are in the field courtesy of top-10 finishes at last week’s Corales Puntacana Championship. … Tommy Armour III holds the tournament scoring record of 254 set in 2003. … Arnold Palmer won the first three editions of the event from 1960-62.
BEST BETS: Tyrrell Hatton (+1200 at BetMGM) makes his tournament debut as the highest-ranked player in the field at No. 17. He has three top-10s in seven starts this season, including a runner-up at The Players. … Fowler (+1800) has three top-10s in 11 starts this season, his most since 2018-19. … Si Woo Kim (+1800) won the Sony Open to begin his 2023 schedule and is coming off a T17 last week. … Hideki Matsuyama (+2500) cited his recurring neck injury in withdrawing from last week’s Match Play, but he did post a solo fifth at the Players earlier this month. … Taylor Montgomery (+2500) is the top rookie in the FedEx Cup standings at No. 22 as he comes off a playoff loss in group play last week. … Davis Riley (+2800) enters in solid form, with a pair of top-30s in three events since a T8 at Bay Hill.
NEXT TOURNAMENT: Masters Tournament, Augusta, Ga., April 6-9

LPGA Tour
LAST TOURNAMENT: LPGA Drive On Championship (Celine Boutier)
THIS WEEK: DIO Implant LA Open, Palos Verdes Estates, Calif., March 30-April 2
Course: (Par 71, 6,258 yards)
Purse: $1.75M (Winner: $262,500)
Defending Champion: Nasa Hataoka
Race to the CME Globe leader: Celine Boutier
HOW TO FOLLOW
TV: Thursday-Friday, 7-9:30 p.m. ET; Saturday-Sunday, 6-9 p.m. (All times Golf Channel)
Streaming: Thursday-Friday, 7-9:30 p.m. ET; Saturday-Sunday, 6-9 p.m. (All times golfchannel.com, NBCSports.com, NBA Sports App)
Twitter: @lpga_la
NOTES: The 144-player field will be cut to the top 65 and ties after 36 holes. … Brooke Henderson holds the tournament scoring record of 16-under 268 set in 2021. … Nelly Korda leads the U.S. standings for the 2023 Solheim Cup team with 316 points, followed by Lilia Vu (272.5), Lexi Thompson (258), Danielle Kang (240.5) and Jennifer Kupcho (196). Team Europe’s standings are led by Maja Stark (208.17), Linn Grant (192.5), Ana Pelaez Trivino (113.17), Manon De Roey (94.75) and Carlota Ciganda (88.75).
NEXT TOURNAMENT: Lotte Championship, Ewa Beach, Oahu, Hawaii, April 12-15

Champions Tour
LAST TOURNAMENT: The Galleri Classic (David Toms)
THIS WEEK: OFF.
NEXT TOURNAMENT: Invited Celebrity Classic, Irving, Texas, April 21-23

–Field Level Media

ATP News: Karen Khachanov beats Stefanos Tsitsipas for first time in Miami

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Karen Khachanov recorded 25 winners against nine unforced errors on Tuesday while dispatching second-seeded Stefanos Tsitsipas 7-6 (4), 6-4 to advance to the quarterfinals of the Miami Open.

It marked the first time that the 14th-seeded Russian has defeated Tsitsipas in seven career meetings.

“They say third time is a charm, but for me it took seven times, so I’m super happy,” Khachanov said after prevailing in 93 minutes. “Not most importantly that I beat Stefanos, but I think with the way I’m playing. After the Australian Open, I had some issue with an injury. I came back in Dubai without having played many matches and I’m just happy to continue that level.

“I just want to continue that way, enjoy the process, and enjoy the journey.”

Khachanov controlled the match by winning 88.6 percent (39 of 44) of his first-serve points.

Meanwhile, Tsitsipas never won consecutive games during the watch. He had 11 aces among 29 winners and committed 14 unforced errors.

Khachanov will face either 25th-seeded Francisco Cerundolo of Argentina or Lorenzo Sonego of Italy in the quarterfinals. Those two men were playing later Tuesday.

Top-seeded Carlos Alcaraz had a 24-9 edge winners as he cruised to a 6-4, 6-4 victory over 16th-seeded Tommy Paul.

The Spaniard won 12 of 13 points at the net while winning in 96 minutes.

“I played a really great match and I hope to play the same level in the quarterfinal,” Alcaraz said. “I moved well and defended well and I counter-attacked and I think if I play at that same level I will have a lot of chances to get through.”

Alcaraz’s quarterfinal opponent will be ninth-seeded Taylor Fritz, who posted a 6-3, 6-4 victory over seventh-seeded Holger Rune of Denmark.

Fritz served eight aces and saved 5 of 6 break points during the 85-minute match.

“I think my average level of tennis is a lot higher,” Fritz said. “I don’t need to always show up and play my best and if I don’t play my best, that level is higher than it used to be. I feel I can come through and win a lot of matches.”

No. 10 seed Jannik Sinner of Italy recorded eight aces without a double fault while producing a 6-2, 6-4 victory over sixth-seeded Russian Andrey Rublev.

Sinner had a 29-21 edge in winners while prevailing in 72 minutes.

“I just tried to play with the right tactics,” Sinner said. “Playing bombs against bombs, it’s never easy. I think today I changed my game a little bit, so I’m very happy about that.”

Sinner next faces Finland’s Emil Ruusuvuori, who outlasted 26th seed Botic van de Zandschulp of the Netherlands 4-6, 6-4, 7-5 in two hours and 43 minutes.

–Field Level Media

PVH Corp Shares Surge 20 percent on Q4 Beat & Strong Guidance

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PVH Corp (NYSE:PVH) shares jumped more than 20% on Tuesday after the company beat Street estimates for its fiscal Q4 results due to its accelerated growth plan for its core brands Calvin Klein and Tommy Hilfiger, despite a challenging macroeconomic environment.
Q4 EPS came in at $2.38 on revenue of $2.49 billion, beating the expected EPS of $1.66 and revenue of $2.36 billion. Although the gross margin fell to 55.9% from the previous year’s 58.3%, the PVH+ plan’s progress to increase Calvin Klein and Tommy Hilfiger’s growth contributed to the beat. Calvin Klein and Tommy Hilfiger revenues increased by 3% compared to the previous year’s period.
The company expects Q1 EPS of $1.90, compared to the Street estimate of $1.88. Revenue is expected to grow approximately 3% year-over-year on a constant currency basis.
For the full 2023 year, the company expects EPS of $10.00, compared to the Street estimate of $8.92. Revenue growth is at 2%-3% on a constant currency basis.

Defense helps North Texas stun Wisconsin, reach NIT final


Rubin Jones scored all 12 of his points in the second half and North Texas held Wisconsin scoreless in the game’s final 9:07 to snatch a 56-54 victory in the NIT semifinals on Tuesday in Las Vegas.

The Mean Green (30-7) reached the 30-win plateau for the first time in the program’s 68-year history and notched their eleventh all-time postseason win, all of which have come since 2017 under sixth-year head coach Grant McCasland.

North Texas will face UAB (29-9) for the NIT title on Thursday. The Blazers edged Utah Valley 88-86 in overtime during the second semifinal.

Tylor Perry led the Mean Green with 16 points, while Kai Huntsberry contributed 12 points and five assists. Moulaye Sissoko chipped in seven points and grabbed a team-high six rebounds.

Chucky Hepburn scored all of his team-leading 15 points in the first half for the Badgers (20-15), who shot a horrid 6-for-25 (24 percent) from the floor in the second half. Connor Essegian and Tyler Wahl each supplied 12 points.

North Texas entered Tuesday’s affair allowing five 3-pointers per game, the fourth-fewest in the NCAA, but could do little to contain the Badgers beyond the arc in the first half.

Hepburn finished 5-for-8 on 3-point attempts in the opening stanza, while Essegian and Isaac Lindsey each added a trey as Wisconsin built a 41-29 halftime lead.

The Mean Green switched Perry for Huntsberry to guard Hepburn to begin the second half, and the move helped North Texas crawl back into the game.

Hepburn was kept off the board, while Jones shook off his scoreless first half and catalyzed the Mean Green offense as Perry struggled to find looks from the floor, finishing the second half with just two points.

Essegian’s layup made it 51-42 Wisconsin with 13:10 to play, but the Badgers went colder than a Wisconsin winter from the floor, missing 15 of their final 16 shots.

After Jones’ bucket knotted the game at 54-54, Sissoko backed down Wahl in the paint and muscled home a layup that gave the Mean Green their first lead of the game at 56-54 with 2:07 to play.

Wahl squandered a golden opportunity to tie the contest when he missed two free throws with 49 seconds left.

Wisconsin had one more chance to tie or win after forcing a Perry turnover, but Wahl’s errant pass rolled away and the Badgers failed to get a shot off before the final buzzer sounded.

The Mean Green shot 21-for-48 (43.8 percent) from the field and finished the game on a 14-3 run, holding Wisconsin to just 13 points in the second half.

–Field Level Media

Baylor star freshman Keyonte George declares for NBA draft


Big 12 Freshman of the Year Keyonte George of Baylor announced Tuesday that he has decided to declare for the NBA draft.

George made his announcement on Instagram and labeled himself “forever a Baylor Bear.”

George said, “Growing up it was always my dream to play for a school that felt like home & treated me like family. I was blessed to find that at Baylor!”

George averaged 15.3 points, 4.2 rebounds and 2.8 assists in 33 games (all starts) this season. He also made 77 3-pointers and racked up 37 steals.

George is projected as a lottery selection, with some labeling him as a top-10 pick.

“I don’t really worry about where I’ll be picked — I respect everyone that is trying to fulfill their dreams,” George told ESPN. “I’m looking for fit, somewhere where I can learn and grow at the same time. It’s important for me to be an all-around player and not just a scorer. I’m looking forward to showing NBA teams how tough I am and the savvy I carry myself with.”

George was billed as the highest-ranked recruit in Baylor history when he decided to play for the school.

–Field Level Media

NC State G Terquavion Smith declares for NBA draft


North Carolina State sophomore guard Terquavion Smith told ESPN on Tuesday that he is declaring for the NBA draft.

Smith led NC State with averages of 17.9 points and 4.1 assists this season and also had team-best totals in 3-pointers (91) and steals (49).

“I’m forgoing my college eligibility and going all the way in,” Smith said. “I’m thankful for everything the NC State coaching staff and fans have done for me. This is the right decision for me to take care of my family.”

Smith also declared for the draft after his freshman season before later withdrawing his name. At the time, he said he wanted “one more season to get everything right and he a college student.”

Smith, who averaged 16.3 points as a freshman, said the decision worked out well.

“I improved my grades. I’m a year closer to getting my degree now,” Smith said. “You only get one chance to be a college student and get that college vibe. There was no rush for me. I’m ready to contribute to an NBA team now.”

Smith is projected as a late first-round pick.

–Field Level Media

AJ Storr, two others depart St. John’s after Rick Pitino’s hiring


Freshman guard AJ Storr is one of three St. John’s players to enter the transfer portal on Tuesday, shortly after the hiring of veteran coach Rick Pitino.

According to On3, Storr, sophomore forward O’Mar Stanley and freshman guard Kolby King each confirmed they have departed the program.

Storr averaged 8.8 points in 33 games (17 starts) and ranked third on the Red Storm with 38 3-pointers.

Stanley averaged 4.7 points and 2.7 rebounds in 31 games (18 starts). He shot 64.9 percent from the field and was second on the club with 24 blocked shots.
King averaged 1.7 points in 26 games as a reserve.

Pitino was hired earlier this month to replace Mike Anderson, who went 68-56 in four seasons at St. John’s. The Red Storm went 18-15 this season and never made the NCAA Tournament during Anderson’s tenure.

Pitino coached Iona into the NCAA field in two of the past three seasons.

–Field Level Media