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Home Blog Page 8663

The Trade Desk’s Upcoming Q3 Earnings Preview

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RBC Capital analysts provided their outlook on The Trade Desk, Inc. (NASDAQ:TTD) ahead of the upcoming Q3 results, expecting the company to deliver a solid result despite the challenging macro, with consensus revenue/adjusted EBITDA at $386 million/$141 million, which implies year-over-year revenue growth of 28%.
Year-to-date, the company has continued to be the exception to the rule proving macro resilient, benefiting from format diversity and approximately 90% domestic concentration.
The analysts expect relative outperformance to continue but have lowered their estimates to reflect the more challenging macro. The analysts reiterated their outperform rating and $80 price target on the company’s shares.

MKS Instruments Shares Plunge 16 percent on Guidance Miss

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MKS Instruments (NASDAQ:MKSI) shares fell nearly 16% since the company’s reported Q3 results on Wednesday.
While both EPS of $2.74 and revenue of $954 million came in better than the Street estimates of $2.42 and $946.7 million, respectively, Q4 outlook was disappointing on lingering supply chain constraints.
For Q4, the company expects EPS of $1.34, compared to the Street estimate of $2.26, and revenue of $1 billion, compared to the Street estimate of $1.13 billion.
Post results, Deutsche Bank analysts lowered their 2023/2024 EPS estimates sharply primarily due to higher interest expense and tax rate, but their 2023 EBITDA only moved down slightly, justifying their price target cut from $100 to $90. Despite incremental macro uncertainties, the analysts continue to view the ATC deal favorably and believe the revenue synergies and the potential of quick deleveraging are underappreciated. The analysts maintained their buy rating on the company’s shares.

PGA News: Russell Henley, bogey-free through two rounds, leads Mayakoba

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Russell Henley fired his second straight round of 8-under 63 to build a three-shot lead at the World Wide Technology Championship at Mayakoba on Friday in Riviera Maya, Mexico.

For the second straight day, Henley piled up eight birdies without a bogey. At 16-under 126, he established a cushion over Sam Ryder (65) and Will Gordon (67), who were tied for second at 13 under.

Henley started his round at El Camaleon Golf Club on the back nine and made four birdies on each side. He rolled in three in a row at Nos. 11-13 and Nos. 6-8.

“It starts off the tee,” Henley said. “There’s some intimidating tee shots for me and I just am trying to just commit to what I’m doing and commit to trying a great shot. Just being in a good head space for those tee shots is a good start.”

Gordon was the leader after an opening-round 62. He had a bogey-free card but just four birdies Friday.

Ryder, meanwhile, shot a 7-under 29 on the front nine with seven birdies but ran out of steam, bogeying Nos. 10 and 16 on the way to his 65.

“I came out and just didn’t really miss much on the front, was playing really solid, driving it well, making some putts is always nice, had one chip-in, pretty simple,” Ryder said. “Then kind of just got a little loose on the back and this place kind of, with a little bit more wind, it can be a little bit nervier off the tee. So I think I just, I kind of got a little out of sync there, but I managed it pretty well.

“And it was kind of the tale of two nines for me, but all in all, I’m pretty happy with the way I got it around and just going to kind of continue to keep doing what I’m doing.”

Ryder and Gordon are searching for their first wins on the PGA Tour.

Patton Kizzire shot his second straight 65 to get to fourth place at 12 under. Sweden’s David Lingmerth (66) is in fifth at 11 under.

Harry Higgs shot the round of the day, a 9-under 62, to leap into a tie for sixth at 10 under with Brian Harman (66) and Scotland’s Martin Laird (67). Higgs stayed bogey-free and holed out from 86 yards for eagle at the par-4 third to go with seven birdies.

“I thought it was going to be really good, so I said — all I said was ‘in,’ and that’s usually the curse,” Higgs said. “It either will like fly in the hole and come out or it will lip out. Fortunately, I called for it early and it fell in the hole.”

World No. 9 Collin Morikawa shot a bogey-free 63, including four straight birdies at Nos. 4-7, to move away from the cut line and up to a tie for 14th at 8 under.

“This golf course, the way it’s playing, you can post two really good low ones on the weekend,” Morikawa said. “I’m definitely going to need that if I’m going to be in contention, but after today I’m feeling pretty good.”

Sixty-eight players made the cut of at least 4 under. Notable names to miss the cut included Tony Finau (3 under), Jason Dufner (3 under) and England’s Justin Rose (1 under).

–Field Level Media

WTA News: Aryna Sabalenka tops Ons Jabeur to advance in WTA Finals

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Aryna Sabalenka won twice on Friday at the WTA Finals in Fort Worth, Texas.

First, the seventh-seeded Belarusian player beat third-seeded Jessica Pegula of the United States 6-3, 7-5 in her final round-robin match in the Nancy Richey Group.

Then when fifth-seeded Maria Sakkari of Greece won the first set against second-seeded Ons Jabeur of Tunisia in the finale of the Nancy Richey Group, Sabalenka sealed the group’s second playoff-qualifying spot.

Sakkari, who had previously clinched first place in the group, went on to beat Jabeur 6-2, 6-3.

Sakkari wound up 3-0 in round-robin action. Sabalenka went 2-1, Jabeur 1-2 and Pegula 0-3.

The season’s eight top players were divided into the Nancy Richey Group and the Tracy Austin Group for round-robin play. The winner of each group will play the runner-up from the opposite group in the semifinals Sunday, with the victor in those two matches heading to the final on Monday.

The prize pool is $5 million, and an unbeaten champion would earn $1.68 million.

Sabalenka prevailed thanks to compiling more winners (19-12) and fewer unforced errors (26-18) than Pegula. Sabalenka also won 80 percent of her first-serve points.

“I definitely was happy with my serve — for the (first) half of the match,” Sabalenka said. “I’m just happy that I was really focused from the beginning to the end and I was able to finish this match in two sets.”

Jabeur was done in by unforced errors: 31 to Sakkari’s 10. Both players finished with 11 winners.

The Tracy Austin Group concludes on Saturday, with sixth-seeded Caroline Garcia of France facing off against eighth-seeded Daria Kasatkina of Russia in a battle for second place. Both players are 1-1, so the winner on Saturday will make the semifinals while the loser will be eliminated.

The other Saturday match has little significance. Top-seeded Iga Swiatek of Poland, who already wrapped up first place at 2-0, will oppose fourth-seeded Coco Gauff of the United States, who is eliminated at 0-2.

WTA Finals group standings
Nancy Richey Group
1. Maria Sakkari, 3-0
2. Aryna Sabalenka, 2-1
3. Ons Jabeur, 1-2
4. Jessica Pegula, 0-3
Tracy Austin Group
T1. Iga Swiatek, 2-0
T1. Caroline Garcia, 1-1
T3. Daria Kasatkina, 1-1
T3. Coco Gauff, 0-2

–Field Level Media

PayPal Reports Q3 Beat, But Lowers Revenue Outlook

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PayPal (NASDAQ:PYPL) shares closed nearly 2% lower today after recovering from a 7% drop in the morning as a result of the company lowering its full full-year revenue outlook.
Q3 EPS came in at $1.08, better than the Street estimate of $0.96, while the revenue of $6.85 billion missed the Street estimate of $6.82 billion. For the full 2022-year, the company expects EPS to be in the range of $4.07-$4.08, compared to the Street estimate of $3.93. Full-year revenue is now expected to be $27.5 billion, lower than the Street estimate of $27.81 billion.
Positively, the company is confident it can drive material margin expansion in any economic scenario in 2023, committing to at least 100 bps of margin expansion and over 15% in EPS growth.

ATP News: Holger Rune makes Paris semis after Carlos Alcaraz (abdominal) retires

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Danish teenager Holger Rune reached his first ATP Masters 1000 semifinal when his quarterfinal opponent, world No. 1 Carlos Alcaraz, retired during a second-set tiebreak with an abdominal injury at the Rolex Paris Masters on Friday in France.

Rune led 6-3, 6-6 (3-1) when Alcaraz retired. The Spaniard underwent treatment on a muscle injury while leading the second set 6-5. Rune won the 12th game to force the tiebreak, then went ahead 3-1 with three straight points before Alcaraz made the decision to retire.

“Carlos is, if not the best, one of the best return players in the world,” Rune said after the match. “Of course, he is No. 1, so he is obviously the best in the world right now, but I’m super happy with how I handled all the things under pressure and how I handled also my return game. I tried to play as aggressive as possible. Sometimes I missed a few shots but it was all worth it because at the end I was very good at important moments.”

Rune, 19, has gone 17-2 in his last 19 matches and is vying to reach the final of his fourth straight event. He had five aces against Alcaraz and saved both break points he faced.

In the semifinals, Rune will face eighth seed Felix Auger-Aliassime of Canada, who breezed past 16th seed Frances Tiafoe 6-1, 6-4. It was Auger-Aliassime’s 16th straight win. He’s won titles in Florence, Italy; Antwerp, Belgium; and Basel, Switzerland in that span.

Tiafoe saved six match points, including five in one game when Auger-Aliassime was leading the second set 5-3.

“Of course, I had match points at 5-3,” Auger-Aliassime said. “(Tiafoe) tried everything and tried many different ways to stay in the match. He did for one more game, but I’m happy that I was able to be clutch in those moments. Serving for the match and (I) stayed cool and played great points when I needed to.”

The other semifinal will pit defending champion Novak Djokovic of Serbia against Stefanos Tsitsipas of Greece.

Djokovic, the sixth seed, needed just 74 minutes to beat Italy’s Lorenzo Musetti 6-0, 6-3. Djokovic had a 17-8 edge in winners and capitalized on Musetti’s 14 unforced errors.

The 21-time Grand Slam winner is in the hunt for his seventh career victory at the Paris Masters.

Tsitsipas, the fifth seed, handled business against Tommy Paul 6-2, 6-4.

–Field Level Media

CHAMP News: Miguel Angel Jimenez uses late surge to take TimberTech lead


Miguel Angel Jimenez of Spain birdied his last four holes to post a 5-under-par 67 and take the first-round lead at the TimberTech Championship on Friday in Boca Raton, Fla.

Jimenez birdied two par-3 holes, the 15th and 17th, at Royal Palm Yacht & Country Club before the finishing flourish at the par-5 18th. It was enough for a one-shot lead over Rod Pampling of Australia and Paul Goydos.

The tournament is the penultimate leg of the Charles Schwab Cup Playoffs, and Jimenez was in fifth place entering the week. He’s projected to rise to third if the results from Friday were to hold firm. Steven Alker of New Zealand has a healthy lead in the standings, with Ireland’s Padraig Harrington in second.

Jimenez made consecutive bogeys at Nos. 5-6 and shot even par on the front nine before five birdies on the back nine.

Pampling also made a late surge with birdies at Nos. 14, 16, 17 and 18 around a bogey at No. 15. He closed the day with seven birdies and three bogeys. He credited his putting, along with a chip-in at No. 17.

“Making some good putts,” Pampling said. “You know, fortunate chip-in on 17 and then two-putt 18. Yeah, I rolled really nice on the back nine, and the front as well, so that was definitely key to today.”

Goydos, too, made his move late by birdieing Nos. 13, 16 and 18.

Tom Pernice Jr., Scott McCarron and Sweden’s Robert Karlsson shot 3-under 69 to form a tie for fourth.

Alker was part of a 10-player tie for seventh at 2-under 70, which also featured Germany’s Bernhard Langer, South Africa’s Retief Goosen and Colin Montgomerie of Scotland. Harrington opened with an even-par 72.

–Field Level Media

Block’s Shares Surge 12 percent on Strong Q3 Results

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Block (NYSE:SQ) shares soared more than 12% on Friday following the company’s reported Q3 results, with EPS of $0.42 coming in better than the Street estimate of $0.24. Revenue was $4.52 billion, in line with the Street estimate.
Cash App generated gross profit of $774 million, representing a 51% year-over-year growth. Square generated gross profit of $783 million, growing 29% year-over-year.
The strength in Cash App is expected to continue into Q4 with monetization rates and Cash App ARPU rising materially better than expectations.
Analysts at Deutsche Bank continue to believe Block’s proven business model will be able to weather the economic storm and demonstrate strong top and bottom-line growth rates well above peers in the short and long term.

UConn to retire number of Hall of Famer Swin Cash


UConn will retire the number of former great Swin Cash, making the Naismith Basketball Hall of Fame member just the third player in Huskies history — men or women — to receive the honor.

The ceremony to retire No. 32 will be held Nov. 14 when the Huskies host Texas at Gampel Pavilion in Storrs, Conn.

Cash joins Ray Allen (34) and Rebecca Lobo (50) as the only Huskies with retired numbers. Only members of the Hall of Fame who played at UConn are eligible for a number retirement.

Cash was enshrined in the Hall of Fame in September. She played on four WNBA All-Star teams.

“I’m truly humbled and grateful to the University of Connecticut, my coaches and my amazing teammates,” she said in a statement released Friday. “To know my number and name will be going to the rafters in Gampel is still mind-blowing.

“For me, this recognition represents a shining symbol of hope to any young female baller out there wondering if she’s good enough, who comes from humble beginnings or just doesn’t see a clear pathway. Being the best you, is always enough.”

Cash, 43, was a two-time NCAA champion at UConn (2000, 2002) and named the most outstanding player of the NCAA Tournament in the latter year. The Detroit Shock selected her with the No. 2 overall pick in the 2002 WNBA draft, and she won three league championships in her 15-year career with Detroit (2003, 2006) and the Seattle Storm (2010).

She also played with the Chicago Sky, Atlanta Dream and New York Liberty.

A two-time Olympic gold medalist (2004, 2012), Cash is the vice president of basketball operations and team development for the New Orleans Pelicans.

“Anyone who was around when Swin played, or who saw her play in person, will never forget the energy that she played with, the force of her personality and the passion that she brought to everything that she did,” UConn coach Geno Auriemma said in the statement. “Hanging No. 32 up in the rafters is the ultimate sign of respect from everyone here in our program and every UConn fan all over the world.”

–Field Level Media

Fever hire former assistant Christie Sides as head coach


Christie Sides is returning to the sidelines for the Indiana Fever after being named the ninth head coach in franchise history on Friday.

A Louisiana native, Sides is a former Fever assistant and has been coaching in the college and pro ranks for more than 20 years.

“Christie has all the traits I value,” said Lin Dunn, the Fever’s interim general manager. “She is an excellent teacher with a high basketball IQ. She is a relationship person and a connector. Christie will be demanding, pay attention to detail, and will also make sure we defend and play hard. I love her energy and believe she is a perfect fit for our young, talented team.”

Sides’ coaching resume includes six seasons as assistant coach of the Chicago Sky, assistant stints at Northwestern and LSU, stops as an assistant in the Russian pro leagues and with the Slovakian Women’s National Team. More recently, she was a Fever assistant in 2018-19, associate women’s head coach at Louisiana-Monroe (2019-21) and an assistant coach with the Atlanta Dream in 2022.

“It is an honor to be a part of a world-class sports franchise,” Sides said. “Indiana has a great winning tradition and I am excited to team up with Lin and the rest of the organization in laying the foundation for sustainable success as we enter the next era of Fever basketball.”

She played college basketball at Ole Miss and then transferred to Louisiana Tech. She still holds the career record at Tech for 3-point field goal percentage (.448).

In May, the Fever fired Marianne Stanley and replaced her with assistant coach Carlos Knox on an interim basis.

The Fever finished the 2022 campaign in last place in the WNBA standings with a 5-31 record.

–Field Level Media