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Home Blog Page 8610

Pure Storage Upgraded to Outperform at Wedbush

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Wedbush upgraded Pure Storage (NYSE:PSTG) to Outperform from Neutral with a price target of $34.00, noting that the company continues to provide top-notch products as evidenced by its margins.
The firm further stated that the guidance provided by the management significantly reduces the risk associated with the outlook for the company, considering the prevailing macroeconomic weakness.
The company reported its Q4/23 last month, with EPS coming in at $0.53, beating the Street estimate of $0.38, while revenue of $810.2 million was below the Street estimate of $811.73 million.

Analysts Positive on FedEx Following DRIVE Event

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Following FedEx Corporation’s (NYSE:FDX) DRIVE event in New York, several sell-side analysts upgraded the stock and increased their price targets. They argue that the event has provided greater visibility into transformational changes aimed at enhancing profitability and expanding margins. Raymond James upgraded FedEx to Outperform from Market Perform, citing expected improvements in margins, earnings, and free cash flow in the future.
The firm believes that FedEx’s focus on integrating its primary Express & Ground offering, reducing costs, enhancing capital allocation scrutiny, and implementing a more shareholder-friendly capital return program will drive improved shareholder returns over time.
Meanwhile, Citi raised the price target on the stock to $285 from $275, noting that “one FedEx checks many boxes” and that the company delivered more than enough to attract new investors.

ATP News: Stan Wawrinka, Dominic Thiem advance in Monte Carlo

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Wild-card entries Stan Wawrinka of Switzerland and Dominic Thiem of Austria both won their first-round matches Monday at the Rolex Monte Carlo Masters in Monaco.

The 38-year-old Wawrinka rallied for a 5-7, 6-3, 6-4 victory against Tallon Griekspoor of the Netherlands, finishing the two-hour, 25-minute battle on his sixth match point.

“It was really important to stay calm with myself,” said Wawrinka, who won this event in 2014. “In the first round you need to find your game. The first match on clay is never easy against a good player. I am happy to get through. It was important to fight until the end.”

Both players finished with 36 winners, but Wawrinka was able to save 10 of 12 break points while converting all three of his break chances.

Wawrinka’s second-round opponent will be No. 8 seed Taylor Fritz.

Thiem picked up his first victory at an ATP Masters 1000 event since 2021 with a 6-1, 6-4 defeat of France’s Richard Gasquet.

Thiem registered six aces, won 87 percent of his first-service points (27 of 31) and never faced a break point. He converted 3 of 10 break chances and finished with 19 winners and just seven unforced errors.

“At the start I played very well,” said Thiem, 29. “It was good for me that I broke him. I was going ahead the whole match. I am pleased with the performance. Richard is in good form, he already won a tournament this year. It is always tough but at the same time nice to play him because he has such a nice game and is a legend of tennis.”

Up next for Thiem is No. 6 seed Holger Rune of Denmark.

Only two matches Monday involved seeded players. Argentina’s Francisco Cerundulo upset No. 11 Cameron Norrie of Great Britain 6-3, 6-4 and No. 14 Alex de Minaur of Australia defeated Great Britain’s Andy Murray 6-1, 6-3.

Americans Maxime Cressy and Mackenzie McDonald were both eliminated. Italy’s Matteo Berrettini defeated Cressy 6-4, 6-2 and Russian qualifier Ivan Gakhov outlasted McDonald 7-6 (6), 2-6, 6-3.

Gakhov will face No. 1 seed Novak Djokovic of Serbia in the second round.

Other first-round winners on the clay Monday included Spain’s Roberto Bautista Agut, France’s Benjamin Bonzi, Britain’s Jack Draper, Australia’s Alexei Popyrin, Argentina’s Diego Schwartzman, Germany’s Jan-Lennard Struff and the Netherlands’ Botic van de Zandschulp.

–Field Level Media

Lumentum Shares Plunge 9 percent on Preliminary Q3 Revenue Miss

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Shares of Lumentum (NASDAQ:LITE) shares dropped more than 9% after the company reported its preliminary Q3 results, which came in worse than the Street estimates.
The company expects Q3 net revenue in the range of $380-$384 million, compared to the Street estimate of $444.1 million.
This was primarily due to the fact that late in the quarter, a network equipment manufacturer, which represents around 10% of total quarterly revenue, canceled shipments that were originally projected for the quarter.
The company’s board of directors approved an increase in its share repurchase authorization to a total of $1.2 billion from the previous $1 billion.

Fever select Aliyah Boston first overall in WNBA draft


Aliyah Boston all but knew where her pro career would start even before the Indiana Fever made her the No. 1 overall selection in the 2023 WNBA Draft.

Recent discussions had gone well and left quite an impression on Boston, who said the Fever “made me feel at home ever before this was a real reality.”

The partnership became official on Monday night in New York, when the South Carolina forward was selected by the Fever to kick off the three-round, 36-player draft.

Boston was one of three Gamecocks to be selected in the first round and five tabbed overall.

Boston, a three-time All-American, will be expected to provide an immediate lift to an Indiana team that went 5-31 last season to miss the playoffs for the sixth straight season. This was the first time the Fever held the No. 1 overall draft pick.

“Just knowing me, I would say winning every single game, and I still think that can happen,” Boston said of her expectations. “I think we’re going to have a great team that’s going to compete. We’re going to continue to play for each other.

“So just getting a lot of wins, I think that’s the most important part, but also growing as players.”

The 6-foot-5 Boston was the consensus National Player of the Year for the 2021-22 season. She was also the national Defensive Player of the Year in each of the past two seasons.

Boston averaged 14.1 points, 10.8 rebounds and 2.4 blocked shots in 138 career games for the Gamecocks. She helped South Carolina win the national championship in 2021-22.

Boston is the second South Carolina player to be the No. 1 overall pick. The first was Las Vegas Aces star A’ja Wilson in 2018.

The Fever later picked Indiana guard Grace Berger with the seventh overall selection. She is the first Hoosiers player to be picked in the first round.

The Minnesota Lynx had the second overall pick and tabbed Maryland guard Diamond Miller.

Miller joins Marissa Coleman (2009, Washington Mystics) as the only Terrapins to be selected No. 2 overall. She averaged 19.7 points this season.

“I’m just never satisfied,” Miller said. “Even now, I know I have so much more to develop. The player you see right now or the last game I played, I’m not going to be in another two years.”

The Dallas Wings ended up nabbing the next three players, selecting third and fifth and trading a 2025 first-round pick and a 2024 second-round pick to the Washington Mystics to acquire Stephanie Soares, who was selected fourth.

Villanova forward Maddy Siegrist went third to the Wings. She led the nation with a 29.2 scoring average, and her 1,081 points is the second most in a single season in Division I women’s basketball history behind former Washington star Kelsey Plum (1,109 in 2016-17).

Siegrist is Villanova’s all-time leading scorer — male or female — with 2,896 career points.

“Probably like halfway through my college career is when I realized like, ‘Maybe you could play in the WNBA,'” Siegrist said. “It probably wasn’t until this year where I was like, ‘Oh, you might get picked pretty high.’ I don’t know, I just never looked that far ahead until recently.”

The Mystics chose Soares, the 6-foot-6 forward/center from Iowa State, prior to the trade. Soares averaged 14.4 points, 9.9 rebounds and 3.0 blocked shots in 13 games this season before tearing the ACL in her left knee in January.

The trade stunned Soares. One minute she was thinking about wearing a Mystics uniform, the next she was shifting her focus to the Wings.

“Someone just tapped me, like, ‘You got traded.’ I was like, what?” Soares said. “That happened so fast. Yeah, I think I’m just ready to get to Dallas now and start getting to work.”

The Wings followed up the acquisition by selecting UConn guard/forward Lou Lopez Senechal at No. 5. She spent four seasons at Fairfield before playing this season for the Huskies.

Stanford guard Haley Jones went sixth overall to the Atlanta Dream. After the Fever picked Berger, the Dream were on the board again and selected South Carolina forward Laeticia Amihere.

The Seattle Storm chose Tennessee guard Jordan Horston with the ninth pick. The Sparks followed by picking guard Zia Cooke, the third South Carolina player to go in the first 10 picks.

The Wings nabbed a fourth player in the first round at No. 11 by selecting Maryland guard Abby Meyers. The Lynx completed the round by selecting Frenchwoman Maia Hirsch, a forward/center.

Indiana began the second round by selecting 3-point bomber Taylor Mikesell of Ohio State. She was third nationally with 116 treys this season behind Iowa’s Caitlin Clark (140) and Virginia Tech’s Georgia Amoore (118).

Dallas continued its haul at No. 19 overall by choosing Big 12 Player of the Year Ashley Joens, a guard/forward from Iowa State. At No. 22, the Connecticut Sun selected guard Alexis Morris, one of the key players on LSU’s national championship team.

The Lynx closed the second round by tabbing guard Brea Beal, the fourth South Carolina player chosen.

Indiana chose forward Victaria Saxton — the fifth Gamecock drafted — to begin the third round. According to ESPN, it was the fourth time a single program had five or more players taken in a single draft.

The final pick was Alabama guard Brittany Davis by the defending champion Las Vegas Aces.

–Field Level Media

Reports: G Boogie Ellis returning to Southern California


All-Pac-12 Conference first-team point guard Boogie Ellis is returning to Southern California for his fifth season of eligibility, according to multiple reports.

Ellis, 22, had indicated late in his senior season that he would be leaving school, but reports from CBS Sports and the Los Angeles Times attribute sources saying Ellis has had a change of heart. He had not made an announcement as of Monday evening.

The 6-foot-3 guard led the Trojans in scoring (17.7 points per game) and 3-pointers (83 in 215 attempts for a 38.6 percent clip, all team highs). He started all 33 games he played, averaging 3.7 rebounds, 3.1 assists, 1.4 steals and 1.9 turnovers.

Ellis transferred to USC in 2021 after two seasons at Memphis, where he was named the American Athletic Conference Co-Sixth Man of the Year in 2021. In 125 games (108 starts) his career averages are 12.2 points, 3.1 rebounds, 2.2 assists, 1.1 steals and 1.6 turnovers.

His return would be a boost for the Trojans, who finished last season 22-11 (14-6 Pac-12). As a 10th seed, they lost to seventh-seeded Michigan State 72-62 in the first round of the NCAA Tournament.

The Trojans are adding top recruit Isaiah Collier, a McDonald’s All-American and five-star point guard from Wheeler (Ga.) High School ranked No. 1 in the Class of 2023 by the 247Sports composite.

USC ended the season with the exit of another all-conference first-team selection in fifth-year guard Drew Peterson. Transfer portal departures include guards Reese Dixon-Waters and Malik Thomas, and 7-foot freshman Iaroslav Niagu.

–Field Level Media

Texas freshman PG Arterio Morris to transfer


Arterio Morris plans to exit Austin after one year at Texas. The 2022 McDonald’s High School All-American and five-star recruit told On3 on Monday he entered the transfer portal.

“I have discussed my future with my family and I’ve decided to enter my name in the transfer portal to find a new home that will allow me to grow as a basketball player, maximize my ability to support my teammates and help my team win games,” Morris said in a statement to the recruiting website. “I am excited for the next steps of my journey. I will continue to work to be the best person I can, both on and off the floor.”

Morris, a 6-foot-3 point guard, played 11.7 minutes per game and averaged 4.6 points in 2022-23.

One of two five-star recruits in the 2022 recruit class along with Dillon Mitchell, Morris was not disciplined by the program following a preseason arrest for misdemeanor assault after a physical altercation with his ex-girlfriend.

The Dallas native was down to two teams — Texas and Memphis — before he committed to the Longhorns. Morris also had offers from Arkansas and Kansas.

He is expected to consider joining Chris Beard at Ole Miss.

–Field Level Media

Texas transfer Rowan Brumbaugh commits to Georgetown


Texas guard Rowan Brumbaugh announced Monday that he is transferring to Georgetown.

The 6-foot-4 Brumbaugh hails from Washington, D.C., and returns home to join new Hoyas coach Ed Cooley in his first year running the program.

“Meant to be,” Brumbaugh wrote on social media.

Brumbaugh is a former four-star prospect, rated No. 89 overall in the 247Sports composite rankings in the Class of 2022. He redshirted as a freshman at Texas.

–Field Level Media

Hoosiers get Oregon transfer, former McDonald’s All-American Kel’el Ware


Oregon transfer Kel’el Ware, a former five-star recruit and McDonald’s All-American, committed to Indiana on Monday.

The 7-foot, 210-pound center averaged 6.6 points and 4.1 rebounds as a freshman in 2022-23 for the Ducks.

The Hoosiers were second in the Big Ten with a 23-12 record.

Ware visited Bloomington, Ind., last week and canceled a scheduled visit to Alabama over the weekend.

A top-10 recruit from North Little Rock, Ark., Ware participated in the 2022 McDonald’s All-American game. ESPN ranked him the eighth-best recruit in the class of 2022. He was one slot behind Duke’s Kyle Filipowski and one ahead of Alabama’s Brandon Miller.

–Field Level Media

San Diego State hero Lamont Butler declares for NBA draft


San Diego State Final Four hero Lamont Butler announced Monday that he is declaring for the NBA draft.

Butler said on Twitter that he will retain his college eligibility.

Butler permanently etched his name in San Diego State lore by swishing a buzzer-beating shot as time expired to give the Aztecs a 72-71 victory over Florida Atlantic in the Final Four. The shot elevated San Diego State to the national championship game, where it fell 76-59 to UConn.

“I would also like to thank my family, friends, coaches, teammates and fans for their continued support,” Butler said. “I’m excited to announce that I will be declaring for the 2023 NBA Draft while maintaining my eligibility.”

Butler was a member of the All-NCAA Tournament team after scoring in double digits in three of the Aztecs’ six games.

Butler averaged 8.8 points, 3.2 assists and 2.7 rebounds and accumulated 57 steals and 40 3-pointers in 39 games (38 starts) for the Aztecs this season. The two-time All-Mountain West Defensive Team selection has 127 career steals in 94 games (65 starts).

In high school at Riverside Poly, Butler broke the record for most points set by basketball legend Reggie Miller.

–Field Level Media