Procter & Gamble Stock (NYSE:PG), Trade Ideas

Procter & Gamble

Since its founding in 1837, Procter & Gamble has become one of the world's largest consumer product manufacturers, generating more than $80 billion in annual sales. It operates with a lineup of leading brands, including more than 20 that generate north of $1 billion each in annual global sales, such as Tide laundry detergent, Charmin toilet paper, Pantene shampoo, and Pampers diapers. P&G sold its last remaining food brand, Pringles, to Kellogg in calendar 2012. Sales outside its home turf represent around 53% of the firm's consolidated total.

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These Analysts Revise Their Forecasts On Procter &amp; Gamble After Q3 Results

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Last Friday, The Procter &amp; Gamble Company (NYSE: PG) reported its fiscal third quarter financials, reflecting its ongoing struggle to bring back shoppers after scaring them off during two years of price hikes. 

P&amp;G Is Adapting To A New Reality Where It Can No Longer Rely On Price Hikes

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Argus Research analyst Chris Graja maintains Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) with a Buy and raises the price target from $180 to $185.

Analyst Ratings

Argus Research Maintains Buy on Procter & Gamble, Raises Price Target to $185

In today's fast-paced and competitive business landscape, it is essential for investors and industry enthusiasts to thoroughly analyze companies before making investment decisions. In this article, we will conduct a comprehensive industry comparison, evaluating Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) against its key competitors in the Household Products industry. By examining key financial metrics, market position, and growth prospects, we aim to provide valuable insights for investors and shed light on company's performance within the industry.
<h3>Procter &amp; Gamble Background</h3>
Since its founding in 1837, Procter &amp; Gamble has become one of the world's largest consumer product manufacturers, generating more than $80 billion in annual sales. It operates with a lineup of leading brands, including more than 20 that generate north of $1 billion each in annual global sales, such as Tide laundry detergent, Charmin toilet paper, Pantene shampoo, and Pampers diapers. P&amp;G sold its last remaining food brand, Pringles, to Kellogg in calendar 2012. Sales outside its home turf represent around 53% of the firm's consolidated total.
<table>
<thead>
<tr>
<th>Company</th>
<th>P/E</th>
<th>P/B</th>
<th>P/S</th>
<th>ROE</th>
<th>EBITDA (in billions)</th>
<th>Gross Profit (in billions)</th>
<th>Revenue Growth</th>
</tr>
</thead>
<tbody>
<tr>
<td>Procter &amp; Gamble Co</td>
<td>26.39</td>
<td>7.74</td>
<td>4.75</td>
<td>7.6%</td>
<td>$5.54</td>
<td>$10.34</td>
<td>0.63%</td>
</tr>
<tr>
<td>Colgate-Palmolive Co</td>
<td>31.98</td>
<td>119.56</td>
<td>3.78</td>
<td>239.33%</td>
<td>$0.92</td>
<td>$2.95</td>
<td>6.93%</td>
</tr>
<tr>
<td>Kimberly-Clark Corp</td>
<td>24.96</td>
<td>43.88</td>
<td>2.26</td>
<td>63.82%</td>
<td>$0.87</td>
<td>$1.74</td>
<td>0.12%</td>
</tr>
<tr>
<td>Church &amp; Dwight Co Inc</td>
<td>34.99</td>
<td>6.75</td>
<td>4.50</td>
<td>3.89%</td>
<td>$0.28</td>
<td>$0.68</td>
<td>6.41%</td>
</tr>
<tr>
<td>Clorox Co</td>
<td>231.70</td>
<td>341.81</td>
<td>2.49</td>
<td>1162.5%</td>
<td>$0.22</td>
<td>$0.87</td>
<td>16.04%</td>
</tr>
<tr>
<td>Reynolds Consumer Products Inc</td>
<td>20.16</td>
<td>3.03</td>
<td>1.60</td>
<td>7.07%</td>
<td>$0.26</td>
<td>$0.31</td>
<td>-7.54%</td>
</tr>
<tr>
<td>WD-40 Co</td>
<td>45.05</td>
<td>14.17</td>
<td>5.47</td>
<td>7.16%</td>
<td>$0.02</td>
<td>$0.07</td>
<td>6.85%</td>
</tr>
<tr>
<td>Central Garden &amp; Pet Co</td>
<td>17.95</td>
<td>1.75</td>
<td>0.73</td>
<td>0.03%</td>
<td>$0.04</td>
<td>$0.18</td>
<td>1.09%</td>
</tr>
<tr>
<td>Energizer Holdings Inc</td>
<td>22.42</td>
<td>12.17</td>
<td>0.72</td>
<td>1.0%</td>
<td>$0.08</td>
<td>$0.27</td>
<td>-6.34%</td>
</tr>
<tr>
<td>Oil-Dri Corp of America</td>
<td>11.80</td>
<td>2.62</td>
<td>1.59</td>
<td>6.12%</td>
<td>$0.02</td>
<td>$0.03</td>
<td>3.93%</td>
</tr>
<tr>
<td>Average</td>
<td>49.0</td>
<td>60.64</td>
<td>2.57</td>
<td>165.66%</td>
<td>$0.3</td>
<td>$0.79</td>
<td>3.05%</td>
</tr>
</tbody>
</table>
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 </style>Through a meticulous analysis of Procter &amp; Gamble, we can observe the following trends: 
<ul>
<li>
A Price to Earnings ratio of 26.39 significantly below the industry average by 0.54x suggests undervaluation. This can make the stock appealing for those seeking growth.
</li>
<li>
The current Price to Book ratio of 7.74, which is 0.13x the industry average, is substantially lower than the industry average, indicating potential undervaluation.
</li>
<li>
With a relatively high Price to Sales ratio of 4.75, which is 1.85x the industry average, the stock might be considered overvalued based on sales performance.
</li>
<li>
With a Return on Equity (ROE) of 7.6% that is 158.06% below the industry average, it appears that the company exhibits potential inefficiency in utilizing equity to generate profits.
</li>
<li>
The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of $5.54 Billion is 18.47x above the industry average, highlighting stronger profitability and robust cash flow generation.
</li>
<li>
Compared to its industry, the company has higher gross profit of $10.34 Billion, which indicates 13.09x above the industry average, indicating stronger profitability and higher earnings from its core operations.
</li>
<li>
The company's revenue growth of 0.63% is significantly lower compared to the industry average of 3.05%. This indicates a potential fall in the company's sales performance.
</li>
</ul>
<h3>Debt To Equity Ratio</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713970857_0.png" alt="debt to equity" />
The debt-to-equity (D/E) ratio gauges the extent to which a company has financed its operations through debt relative to equity.
Considering the debt-to-equity ratio in industry comparisons allows for a concise evaluation of a company's financial health and risk profile, aiding in informed decision-making.
When comparing Procter &amp; Gamble with its top 4 peers based on the Debt-to-Equity ratio, the following insights can be observed:
<ul>
<li>
When comparing the debt-to-equity ratio, Procter &amp; Gamble is in a stronger financial position compared to its top 4 peers.
</li>
<li>
The company has a lower level of debt relative to its equity, indicating a more favorable balance between the two with a lower debt-to-equity ratio of 0.65.
</li>
</ul>
<h3>Key Takeaways</h3>
For Procter &amp; Gamble, the PE and PB ratios suggest the stock is undervalued compared to peers, indicating potential for growth. However, the high PS ratio implies the stock may be overvalued based on revenue. In terms of ROE, EBITDA, and gross profit, Procter &amp; Gamble shows strong performance, indicating efficient operations and profitability. The low revenue growth suggests slower expansion compared to industry peers in the Household Products sector.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

In-Depth Analysis: Procter &amp; Gamble Versus Competitors In Household Products Industry

9 analysts have expressed a variety of opinions on Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Procter &amp; Gamble, revealing an average target of $170.11, a high estimate of $182.00, and a low estimate of $160.00. This current average reflects an increase of 2.71% from the previous average price target of $165.62. 
<img src="https://www.benzinga.com/files/images/story/2024/1713888052_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Procter &amp; Gamble. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Lauren Lieberman</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$170.00</td>
<td>$168.00</td>
</tr>
<tr>
<td>Steve Powers</td>
<td>Deutsche Bank</td>
<td>Lowers</td>
<td>Buy</td>
<td>$171.00</td>
<td>$172.00</td>
</tr>
<tr>
<td>Kaumil Gajrawala</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$182.00</td>
<td>$175.00</td>
</tr>
<tr>
<td>Lauren Lieberman</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$168.00</td>
<td>$165.00</td>
</tr>
<tr>
<td>Steve Powers</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Buy</td>
<td>$172.00</td>
<td>$170.00</td>
</tr>
<tr>
<td>Bill Chappell</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$175.00</td>
<td>$160.00</td>
</tr>
<tr>
<td>Jason English</td>
<td>Goldman Sachs</td>
<td>Announces</td>
<td>Neutral</td>
<td>$168.00</td>
<td>-</td>
</tr>
<tr>
<td>Bill Chappell</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$160.00</td>
<td>$155.00</td>
</tr>
<tr>
<td>Lauren Lieberman</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$165.00</td>
<td>$160.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Procter &amp; Gamble. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Procter &amp; Gamble compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Procter &amp; Gamble's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Procter &amp; Gamble's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/PG/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Procter &amp; Gamble analyst ratings.</a>
<h2>Unveiling the Story Behind Procter &amp; Gamble</h2>
Since its founding in 1837, Procter &amp; Gamble has become one of the world's largest consumer product manufacturers, generating more than $80 billion in annual sales. It operates with a lineup of leading brands, including more than 20 that generate north of $1 billion each in annual global sales, such as Tide laundry detergent, Charmin toilet paper, Pantene shampoo, and Pampers diapers. P&amp;G sold its last remaining food brand, Pringles, to Kellogg in calendar 2012. Sales outside its home turf represent around 53% of the firm's consolidated total.
<h3>Procter &amp; Gamble's Financial Performance</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Revenue Growth: Over the 3 months period, Procter &amp; Gamble showcased positive performance, achieving a revenue growth rate of 0.63% as of 31 March, 2024. This reflects a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Consumer Staples sector.
Net Margin: Procter &amp; Gamble's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 18.25% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Procter &amp; Gamble's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 7.6%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Procter &amp; Gamble's ROA stands out, surpassing industry averages. With an impressive ROA of 3.07%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Procter &amp; Gamble's debt-to-equity ratio is below the industry average. With a ratio of 0.65, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>The Basics of Analyst Ratings</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Closer Look at 9 Analyst Recommendations For Procter & Gamble

Barclays analyst Lauren Lieberman maintains Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) with a Overweight and raises the price target from $168 to $170.

Barclays Maintains Overweight on Procter & Gamble, Raises Price Target to $170

The Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) reported upbeat earnings for its <a href="https://www.benzinga.com/news/earnings/24/04/38332519/gillette-parent-procter-gamble-grows-q3-margins-despite-flat-revenue-raises-annual-profit-outlook">third quarter on Friday</a>.
Procter &amp; Gamble reported third-quarter FY24 sales growth of 1% year-on-year to $20.195 billion, missing the analyst consensus estimate of $20.408 billion. Adjusted EPS of $1.52 beat the consensus estimate of $1.41, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
P&amp;G maintained its guidance range for FY24 organic sales growth of 4%-5% and all-in sales growth of 2%-4%. P&amp;G raised its FY24 EPS growth outlook from -1% to inline to a range of 1% to 2% versus FY23 EPS of $5.90. P&amp;G raised its adjusted EPS growth outlook from 8%-9% to 10%-11% versus the prior year. P&amp;G now expects unfavorable foreign exchange rates will be a headwind of approximately $600 million after tax.
P&amp;G now expects a benefit of approximately $900 million after tax from favorable commodity costs for fiscal year 2024.
"We delivered solid sales and strong earnings growth in the third quarter despite multiple headwinds, enabling us to raise our EPS growth guidance and maintain our top-line outlook for the fiscal year," said Board Chairman, President, and CEO Jon Moeller.
P&amp;G shares rose 1.9% to trade at $161.09 on Monday.
These analysts made changes to their price targets on P&amp;G following earnings announcement.
<ul>
<li>Jefferies raised the price target on P&amp;G from $175 to $182. Jefferies analyst Kaumil Gajrawala maintained a Buy rating.</li>
<li>Deutsche Bank lowered the price target on P&amp;G from $172 to $171. Deutsche Bank analyst Steve Powers maintained a Buy rating.</li>
</ul>
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These Analysts Revise Their Forecasts On Procter & Gamble After Q3 Results

Last Friday, The Procter &amp; Gamble&nbsp;Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pg#NYSE">PG</a>) reported its fiscal third quarter financials, reflecting its ongoing struggle to bring back shoppers after scaring them off during&nbsp;two years of price hikes.&nbsp;
<h3>Fiscal Third Quarter Guidance</h3>
For the quarter ended on March 31st, net sales rose&nbsp;1% to $20.20 billion, coming short of&nbsp;$20.41 billion&nbsp;that LSEG expected. However, fiscal third-quarter net income&nbsp;11% YoY&nbsp;to $3.75 billion or $1.52 per share that did surpass LSEG&rsquo;s estimate of $1.41&nbsp;per share.&nbsp;
<h3>Dissapointing Sales Were The Results Of P&amp;G&rsquo;s Failure To Restore Volume Growth</h3>
There were no nationwide prices hikes during the quarter, but compared to 2023&rsquo;s comparable quarter, prices were up 3% YoY. With the price hike slowdown, net sales only rose 1% YoY to&nbsp;$20.2 billion. Excluding acquisitions, divestitures and foreign currency, organic sales expanded 3% YoY. But, for the second consecutive quarter, quarterly volume remained flat. Back in October, P&amp;G guided for returning to volume growth this fiscal year, but three quarters in, this still isn&rsquo;t the case, except three of its divisions. Namely, the beauty, grooming, along with fabric and home business did experience volume growth of 1%, 2% and 1%, respectively. However, health care and baby, along with feminine and family care segments reported that volume continued to decline, which P&amp;G attributed to higher prices, along with a weaker cold and flu season. There&rsquo;s also the geographical aspect as China, its second largest market, continued to struggle with softer demand. Fortunately, in P&amp;G&rsquo;s largest market, the U.S., volume grew 3% YoY, reflecting strong demand on the home front as U.S. consumers are not willing to trade down.&nbsp;
<h3>Full Year Guidance</h3>
The consumer products giant&nbsp;guided for core net earnings per share growth between 10% and 11%, lifting its prior range that was between 8% and 9%. It also lifted its unadjusted earnings growth forecast from previous 1% drop to flat to a new range from 1% to 2%. Sales growth forecast between 2% and 4% was maintained.&nbsp;
Without price hikes, P&amp;G is facing a new reality.
P&amp;G grew its profits on a YoY basis despite the slowdown in China and the Middle East conflict, but only due to price hikes.&nbsp;In an environment where it is becoming increasingly difficult to raise prices, some might argue that P&amp;G&rsquo;s hopes of returning to volume growth are not justified. The benefits from price hikes are gone and P&amp;G has one more quarter to prove its ability to boost overall volume, but&nbsp;Chief Financial Officer Andre Schulten&nbsp;did state that&nbsp;volumes are sequentially increasing, which does provide hope.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

P&G Is Adapting To A New Reality Where It Can No Longer Rely On Price Hikes

Deutsche Bank analyst Steve Powers maintains Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) with a Buy and lowers the price target from $172 to $171.

Deutsche Bank Maintains Buy on Procter & Gamble, Lowers Price Target to $171

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2024/04/19/final-trades-micron-pg-and-uber.html">Halftime Report Final Trades</a>,&#8221; Bill Baruch of Blue Line Capital named Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), which received a $6 billion grant to <a href="https://www.benzinga.com/government/24/04/38311337/microns-us-expansion-plans-get-presidential-nod-with-6-1b-investment">build a chip factory</a>.
Micron will likely receive $6.1 billion in grants from the U.S. Commerce Department.  This funding is for Micron's domestic factory, which aims to shift semiconductor production back to the U.S.
Stephanie Link of Hightower said The Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) reported a &#8220;pretty good&#8221; quarter, with the company beating gross margins again and raised guidance. &#8220;I think it's a quality company,&#8221; she added.
On April 19, Procter &amp; Gamble reported third-quarter FY24 sales growth of 1% year-on-year to $20.195 billion, missing the analyst consensus estimate of $20.408 billion. P&amp;G raised its FY24 EPS growth outlook from -1% to inline to a range of 1% to 2% <a href="https://www.benzinga.com/news/earnings/24/04/38332519/gillette-parent-procter-gamble-grows-q3-margins-despite-flat-revenue-raises-annual-profit-outlook">versus FY23 EPS of $5.90</a>.
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>.
Joseph M. Terranova of Virtus Investment Partners said buy Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) here at $69.
On April 19, Tigress Financial analyst Ivan Feinseth maintained Uber with a Buy and raised the price target from $72 to $96. Uber is scheduled to hold its quarterly conference call to discuss its first quarter 2024 financial results on May 8, 2024.
Price Action:
<ul>
<li>Micron shares fell 4.6% to close at $106.77 on Friday.</li>
<li>Procter &amp; Gamble shares gained 0.5% to settle at $158.14 during Friday's session.</li>
<li>Uber shares fell 3% to close at $69.20 during Friday's session.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/earnings/24/04/38351344/brown-brown-likely-to-report-higher-q1-earnings-here-are-the-recent-forecast-changes-from-wall-stre">Brown &amp; Brown Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a>
Image: Shutterstock

Micron, Uber And A Consumer Products Giant On CNBC's 'Final Trades'

Jefferies analyst Kaumil Gajrawala maintains Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) with a Buy and raises the price target from $175 to $182.

Jefferies Maintains Buy on Procter & Gamble, Raises Price Target to $182

U.S. stocks are experiencing declines this Friday, on track of ending another week of negative performance. 
The Nasdaq 100 has dropped over 5% this week, potentially marking its most significant decline since late October 2022, while the S&amp;P 500 faces its sixth consecutive day of losses, the longest such streak since September 2022, with concerns over interest rates, corporate earnings, and geopolitical tensions <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38334504/israel-strikes-iranian-air-base-tehran-downplays-attack-as-blinken-calls-for-calm-oil-pric">weighing on investor sentiment.</a>
Industry-wise, semiconductor stocks, tracked by the VanEck Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NYSE">SMH</a>) are down 2.7%, eyeing weekly declines of about 8%, marking the most significant drop since June 2022.
Israel carried out limited retaliation against Iran overnight, targeting a location near an air base facility without causing significant damage.
Yields on shorter-dated U.S. Treasury bonds remain stable at around 5%, maintaining levels seen since mid-November 2023, amid Federal Reserve Chair Jerome Powell&#8216;s staunch opposition to rate cuts.
Gold prices surged to $2,400 per ounce amid escalating tensions in the Middle East, while oil prices stabilized after an initial rise following the Israeli strike.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) saw a modest increase of over 1%, with the crypto community anticipating the upcoming halving event.
<h3 class="wp-block-heading" id="h-friday-s-performance-in-major-us-indices-etfs">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,001.61</td>
<td>0.6%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,947.93</td>
<td>0.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>4,984.63</td>
<td>-0.5%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,127.17</td>
<td>-1.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1.30 p.m. EDT </figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.4% to $496.85, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.5%% to $379.83 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) tumbled 1.5% to $417.03 according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 1.6%, followed by the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), up 1.3%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) was the major laggard, down 1.5%. 
<h3 class="wp-block-heading" id="h-friday-s-stock-movers">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) rocketed 13% on rumors that Apollo Global Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>)&nbsp;and Sony Group Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>)&nbsp;are mulling a joint bid for the company.</li>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) dropped 18% as the company announced its third-quarter earnings date, but it did not provide preliminary estimates.</li>
<li>Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) saw a fall of nearly 9% despite beating Street estimates last quarter. Investors negatively reacted to the company&#8217;s plans to cease providing quarterly disclosures on subscriber growth or average revenue per member starting next year.</li>
<li>Other companies reacting to earnings were American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) up 5.5%, Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>) up 5.6%, Huntington Bancshares Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>) up 1.5% Regions Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>) down 0.7%, Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) flat, and Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>), down 1.5%. </li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) was 0.5% lower after the EV-maker recalled thousands of Cybertrucks due to an accelerator pedal problem. </li>
</ul>
Read now: <a href="https://www.benzinga.com/general/macro-notification/24/04/38337484/is-the-us-national-debt-unsustainable-we-cant-have-a-deficit-of-7-of-the-gdp">Is The US National Debt Unsustainable? &#8216;We Can&#8217;t Have A Deficit Of 7% Of The GDP&#8217;</a>
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S&P 500 Nears 6-Day Slide, Nasdaq 100 Faces Worst Week Since Late 2022: What's Driving Markets Friday?

CNBC Halftime Report Final Trades: Micron Technology, The Procter & Gamble Company, Uber Technologies

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite falling over 150 points on Friday.
The Dow traded up 0.43% to 37,938.78 while the NASDAQ fell 1.20% to 15,414.32. The S&amp;P 500 also fell, dropping, 0.43% to 4,989.44&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; .
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Leading and Lagging Sectors Energy shares climbed by 1.5% on Friday.
In trading on Friday, communication services shares fell by1.2%.
Top Headline 
Procter &amp; Gamble Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) fell around 8% during Friday's session following first-quarter results.
Procter &amp; Gamble reported third-quarter FY24 sales growth of 1% year-on-year to $20.195 billion, missing the analyst consensus estimate of $20.408 billion. Adjusted EPS of $1.52 beat the consensus estimate of $1.41.
P&amp;G maintained its guidance range for FY24 organic sales growth of 4%-5% and all-in sales growth of 2%-4%. P&amp;G raised its FY24 EPS growth outlook from -1% to inline to a range of 1% to 2% versus FY23 EPS of $5.90.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Ault Alliance, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AULT#NYSE">AULT</a>) shares shot up 25% to $0.3036 after the company announced that it received an investment of $44 million to date from Ault &amp; Company under the November 2023 Securities Purchase Agreement.
Shares of Metropolitan Bank Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) got a boost, surging 17% to $38.69 after the company reported better-than-expected first-quarter financial results.
Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) shares were also up, gaining 10% to $12.03 following reports suggesting Sony is in talks with Apollo to join a bid for the company.
Equities Trading DOWN
Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares dropped 13% to $803.96. The company announced its third-quarter earnings date and did not provide preliminary estimates as it did with the second quarter.
Shares of Netflix, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) were down 7% to $568.27. Netflix reported upbeat earnings and sales results for its first quarter. The company added 9.33 million paid net new subscribers in the first quarter to bring the company to a total of 269.60 million.
O-I Glass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) was down, falling 6% to $14.51. B of A Securities analyst George Staphos downgraded O-I Glass from Buy to Neutral and lowered the price target from $21 to $16.
Also Check This Out: M<a href="https://www.benzinga.com/news/24/04/38332596/meta-platforms-pure-storage-and-2-other-stocks-insiders-are-selling">eta Platforms, Pure Storage And 2 Other Stocks Insiders Are Selling</a>
Commodities In commodity news, oil traded up 0.5% to $83.15 while gold traded up 0.1% at $2,401.40.
Silver traded up 0.4% to $28.49 on Friday, while copper rose 1.3% to $4.4940.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 declined 0.13%, London's FTSE 100 rose 0.01% while Spain's IBEX 35 Index declined 0.34% The German DAX fell 0.57% French CAC 40 rose 0.06% while Italy's FTSE MIB Index rose 0.04%.
Spain&#8217;s trade gap narrowed to EUR 2.4 billion in February from EUR 2.5 billion in the year-ago month, while Spain&#8217;s consumer confidence indicator climbed to 82.5 in March from 78.5 in February.
Producer prices in Germany fell by 2.9% year-over-year in March compared to a 4.1% decline in the prior month, while retail sales volumes in the UK came in flat for March.
Asia Pacific Markets
Asian markets closed mostly lower on Friday, with Japan's Nikkei 225 dipping 2.66%, Hong Kong's Hang Seng Index falling 0.99%, China's Shanghai Composite falling 0.29% and India's S&amp;P BSE Sensex gaining 0.83%.
Foreign direct investment into China declined by 26.1% year-over-year to CNY 301.67 billion in the first quarter. The business confidence indicator in Hong Kong rose to +2 in the second quarter of from +1 in the prior three-month period. The core consumer price index in Japan increased 2.6% year-over-year in March from 2.8% in February.
Economics
The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38333390/how-to-earn-500-a-month-from-innovative-industrial-properties-stock">How To Earn $500 A Month From Innovative Industrial Properties Stock</a>

Eurozone

AULT

Nasdaq Down Over 1%; Procter & Gamble Raises Profit Forecast

Procter &amp; Gamble Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) reported third-quarter FY24 sales growth of 1% year-on-year to $20.195 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38331374/p-g-announces-fiscal-year-2024-third-quarter-results" rel="noreferrer noopener">missing the analyst consensus estimate of $20.408 billion</a>.
Organic sales increased 3%, driven by a 3% increase from higher pricing. Sales in the Beauty segment rose 2%, the Grooming segment gained 3%, and Health Care increased 2%.
Adjusted EPS of $1.52&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beat the consensus estimate of $1.41.</a>
Gross profit increased 7% Y/Y to $10.3 billion. The reported gross margin increased by 300 basis points to 51.2%.
Operating margin expanded 90 basis points to 22.1%, while operating income for the quarter rose 5% to $4.46 billion.
P&amp;G held $6.83 billion in cash and equivalents as of March 31, 2024. Operating cash flow for the quarter was $4.1 billion.
The company returned over $3.3 billion of value to shareholders in the quarter via $2.3 billion in dividend payments and $1 billion of share repurchases.
&#8220;We delivered solid sales and strong earnings growth in the third quarter despite multiple headwinds, enabling us to raise our EPS growth guidance and maintain our top-line outlook for the fiscal year,&#8221; said Board Chairman, President, and CEO Jon Moeller.
Outlook: P&amp;G maintained its guidance range for FY24 organic sales growth of 4%-5% and all-in sales growth of 2%-4%. P&amp;G raised its FY24 EPS growth outlook from -1% to inline to a range of <a href="https://www.benzinga.com/calendars/guidance">1% to 2% versus FY23 EPS of $5.90.</a>
P&amp;G raised its adjusted EPS growth outlook from 8%-9% to 10%-11% versus the prior year. P&amp;G now expects unfavorable foreign exchange rates will be a headwind of approximately $600 million after tax.
P&amp;G now&nbsp;expects a benefit of approximately $900 million&nbsp;after tax&nbsp;from favorable commodity costs for&nbsp;fiscal&nbsp;year 2024.
P&amp;G sees a core effective tax rate of 20% to 21% in fiscal 2024. P&amp;G also expects to pay over $9 billion in dividends and repurchase $5 billion-$6 billion of common shares in fiscal 2024.
Price Action: PG shares are trading lower by 1.30% at $155.24 in premarket on the last check Friday.
Photo via Shutterstock

Guidance

Dividends

Buybacks

Gillette Parent Procter & Gamble Grows Q3 Margins Despite Flat Revenue, Raises Annual Profit Outlook

P&G Reported Gross Margin For The Quarter Increased 300 bps vs Prior Year; Core Gross Margin For Quarter Increased 310 bps And 400 bps On A Currency-Neutral Basis

P&G 2024 EPS Growth Guidance From (1)-0% To 1-2% Growth

Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) reported quarterly earnings of $1.52 per share which beat the analyst consensus estimate of $1.41 by 7.8 percent. The company reported quarterly sales of $20.195 billion which missed the analyst consensus estimate of $20.408 billion by 1.04 percent. This is a 0.63 percent increase over sales of $20.068 billion the same period last year.

Earnings Beats

Earnings Misses

Procter & Gamble Q3 2024 Core EPS $1.52 Beats $1.41 Estimate, Sales $20.195B Miss $20.408B Estimate

U.S. stocks appear headed for another losing day, potentially marking a sixth consecutive session in the red for Wall Street. While index futures on Friday clawed back some earlier losses, sentiment remains fragile following Israel&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38328006/israel-reportedly-strikes-iran-syria-iraq-in-retaliation-for-missile-drone-attack" rel="noreferrer noopener">missile strikes on Iran</a>&nbsp;in response to drone attacks and as explosions were reported in Syria and Iraq.
Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), the first major tech company to report earnings, <a href="https://www.benzinga.com/news/earnings/24/04/38330086/netflix-stock-tumbles-analyst-says-streaming-giant-doing-everything-right-but-growth-factor-doesnt-" target="_blank" rel="noreferrer noopener">disappointed investors</a> with comments about ending membership guidance. Investors may also turn their attention to upcoming regional bank earnings reports. With commodities retreating from their initial spikes and bond yields falling, a potential reversal in sentiment remains in play despite the extended decline.
The session will also likely see volatility as options contracts tied to about $3 trillion in stocks, equity indexes, and exchange-traded funds <a href="https://www.marketwatch.com/livecoverage/stock-market-today-dow-futures-gain-as-netflix-earnings-eyed/card/options-tied-to-nearly-3-trillion-in-stocks-set-to-expire-on-friday-6OGifsplhRh8sVduKhbe" target="_blank" rel="noreferrer noopener">expire</a> on Friday.
 Futures Performance On Friday ( as of 6:20 a.m. EDT)
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.63%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.42%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.38%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.83%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Friday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.41% to $497.49,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) gained 0.67% to $420.58, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Session:
Stocks struggled to gain momentum on Thursday, remaining in a lackluster phase despite mostly positive economic data that pushed bond yields higher. The S&amp;P 500 saw its first losing streak of this length since late October, just before the current bull market began, while the Nasdaq experienced its longest negative run since January, per CNBC.
 Jobless claims came in below expectations, and Philadelphia&#8217;s regional manufacturing activity saw significant expansion, although the Conference Board&#8217;s leading economic index fell more than anticipated. Additionally, apprehension ahead of the tech reporting season contributed to overall market sentiment. However, sectors like consumer staples, communication services, and financials offered some support.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance In (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.52%</td>
<td>15,601.50</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.22%</td>
<td>5,011.12</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.06%</td>
<td>37,775.38</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.26%</td>
<td>1,942.96</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Fund manager Louis Navellier said the next two weeks are pivotal to the earnings season, with Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and&nbsp;Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) reporting next week, and Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) the week after and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) on May 22.&nbsp;
&#8220;These names have been driving earnings growth and their strength is necessary to mount further index growth due to their&nbsp;heavy weight in the indexes,&#8221; he said.
Another analyst flagged the possibility of a potential rebound in the coming months. Almanac Traders&#8217; Jeffrey Hirsch said when the first quarter fares well during a presidential election year, one can expect gains solid gains in the final seven months of the year.
&#8220;Big Election Year Q1s Dip April-May Before Gains Last 7 Months,&#8221; he said in a post, adding that 2024 was the third-best election year first quarter since 1950.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Big Election Year Q1s Dip April-May Before Gains Last 7 Months. 2024 3rd best Election Q1 since 1950 tracking. Chop continues up ~2.5% April-Oct. Only 2 losses in the last 7 months of election years since 1950, 2000 &amp; 2008 (2024 Almanac page 80). <a href="https://t.co/thKL7tbYsu">pic.twitter.com/thKL7tbYsu</a>
&mdash; Jeffrey A. Hirsch (@AlmanacTrader) <a href="https://twitter.com/AlmanacTrader/status/1781017887869735077?ref_src=twsrc%5Etfw">April 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Upcoming Economic Data:</figcaption></figure>
Chicago Fed President Austan Goolsbee is scheduled to speak at 10:30 a.m. EDT.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>Netflix fell about 6%<a href="https://www.benzinga.com/premarket"> in premarket trading</a> following its quarterly results, while Intuitive Surgical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) gained over 1.50%.</li>
<li>Big techs such as Tesla, Nvidia, and Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) all retreated in premarket.</li>
<li>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) shares rose as cryptocurrencies gained ground on the geopolitical tensions.</li>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) gained over 9% after a Bloomberg report said Apollo Global Management Inc. and Sony Group Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) were considering a joint offer for the company.</li>
<li>American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>), Huntington Bancshares Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>), Regions Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>), Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) and Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) are among those <a href="https://www.benzinga.com/calendars/earnings">reporting earnings ahead of the market open.</a> </li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures, which spiked past the $86-a-barrel mark in early Asian hours following the Israeli attacks, have come notably off the level. At last check, a barrel of oil fetched a little over $82. Gold futures hit as high as $2,433 a troy ounce but has slipped back since then and traded below the $2,400 mark.
The 10-year note yield has pulled back the 4.60% level.
 Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rallied past the $65K mark, thanks to the uncertainty triggered by the geopolitical tension and the optimism ahead of the <a href="https://www.benzinga.com/money/what-is-bitcoin-halving">halving event</a>. It rose over 5.60% at the last check. The halving is expected to happen anytime between Friday and Saturday when 840,000 Bitcoins have been mined. Bitcoin tracking website Bitaps shows that 839,916 Bitcoins are currently in circulation. 
Most Asian markets fell sharply on Friday on the geopolitical tensions, led lower by the Japanese market. The Indian and the Malaysian markets bucked the downtrend. Parliamentary elections are underway in India to elect the next head of state, with the ruling coalition projected to win by opinion poll. 
European stocks traded moderately lower in early trading.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38329084/cathie-wood-sees-value-in-tesla-wreckage-as-ark-buys-13m-worth-of-ev-giants-stock-loads-up">Cathie Wood Sees Value In Tesla Wreckage As Ark Buys $13M Worth Of EV Giant&#8217;s Stock, Loads Up On Bitcoin And Ethereum ETFs</a>

Futures

Previews

Economics

Pre-Market Outlook

Movers

AAPL

AMZN

COIN

GOOG

GOOGL

ISRG

NVDA

Wall Street On Track For 6th Day Of Losses? Netflix, Geopolitical Tensions Drag Futures Down: Analyst Tells Why Next 2 Weeks Are Pivotal

With U.S. stock futures trading lower this morning on Friday, some of the stocks that may grab investor focus today are as follows:
Wall Street expects The Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) to report quarterly earnings at $1.41 per share on revenue of $20.41 billion before the opening bell, according to data from Benzinga Pro. Procter &amp; Gamble shares fell 0.1% to $157.14 in after-hours trading.
Intuitive Surgical Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) reported better-than-expected results for its first quarter on Thursday. Intuitive Surgical shares gained 3.5% to $385.60 in the after-hours trading session.
Analysts are expecting American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) to post quarterly earnings at $2.95 per share on revenue of $15.79 billion. The company will release earnings before the markets open. American Express shares fell 1.7% to $213.90 in after-hours trading.
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) reported upbeat earnings and sales results for its first quarter. The company added 9.33 million paid net new subscribers in the first quarter to bring the company to a total of 269.60 million. Netflix shares fell 4.8% to $581.49 in the after-hours trading session.
Analysts expect Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) to post quarterly earnings at 75 cents per share on revenue of $8.69 billion before the opening bell. SLB shares fell 0.5% to $50.69 in after-hours trading.
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38285336/how-to-earn-500-a-month-from-intel-stock-ahead-of-q1-earnings">How To Earn $500 A Month From Intel Stock Ahead Of Q1 Earnings</a>

Netflix, Procter & Gamble And 3 Stocks To Watch Heading Into Friday

The CNN Money Fear and Greed index showed a slight decline in the overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Thursday.
U.S. stocks closed mixed on Thursday, with the S&amp;P 500 falling for a fifth straight session. All major indices are also on course to record losses this week, with the S&amp;P 500 falling more than 2% so far during the week.
On the economic data front, U.S. initial jobless claims came in unchanged from the previous week at 212,000 for the week ending April 18, down from market expectations of 215,000. The Philadelphia Fed Manufacturing Index increased 12 points to a reading of 15.5 in April, topping market estimates of 1.5.
D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) reported better-than-expected second-quarter financial results. After the closing bell, Netflix Inc  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) reported upbeat earnings and sales results for its first quarter.
Most sectors on the S&amp;P 500 closed on a positive note, with communication services, utilities and consumer staples stocks recording the biggest gains on Thursday. However, information technology and consumer discretionary stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 22 points to 37,775.38 on Thursday. The S&amp;P 500 fell 0.22% at 5,011.12, while the Nasdaq Composite dipped 0.52% at 15,601.50 during Thursday's session.
Investors are awaiting earnings results from The Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>), American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) and Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) today.
At a current reading of 34.1, the index remained in the &#8220;Fear&#8221; zone on Thursday, versus a prior reading of 34.3.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read More: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38312296/jim-cramer-recommends-buying-ethereum-or-bitcoin-instead-of-this-stock-lets-not-fool-aro">Jim Cramer Recommends Buying Ethereum Or Bitcoin Instead Of This Stock: &#8216;Let&#8217;s Not Fool Around&#8217;</a>

Investor Optimism Edges Lower; S&P 500 Settles Lower For Fifth Session

Barclays analyst Lauren Lieberman maintains Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) with a Overweight and raises the price target from $165 to $168.

Barclays Maintains Overweight on Procter & Gamble, Raises Price Target to $168

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
<a href="https://investorplace.com/industries/consumer-discretionary/retail/">Retail stocks</a> can be a good place to allocate capital during times of market volatility such as now. This is especially true when the economy is going strong, which is the case currently. The International Monetary Fund (IMF) just upgraded its forecast for U.S. economic growth this year to an annualized 2.7%, which is 0.6 percentage points higher than it predicted in January of this year. The IMF went so far as to refer to the <a href="https://www.cnn.com/2024/04/16/economy/imf-us-economy-growth-inflation-warning/index.html">American economy as &ldquo;overheated.&rdquo;</a> 



&ldquo;The strong recent performance of the United States reflects robust productivity and employment growth, but also strong demand in an economy that remains overheated,&rdquo; wrote the financial agency of the United Nations (U.N.) in its latest global economic outlook. At the same time, <a href="https://www.reuters.com/markets/us/us-retail-sales-beat-expectations-march-2024-04-15/">U.S. retail sales</a> in March grew more than expected, rising 0.7%. Retail sales in February were revised higher to 0.9%, the biggest monthly gain in more than a year. Here are the top three retail stocks to buy in April 2024. 



<h2>Nordstrom (JWN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/nordstrom_jwn_stock_jwn1600-300x169.jpg" alt="A Nordstrom (JWN) storefront in Toronto, Canada."><div>Source: Jonathan Weiss / Shutterstock.com</div></div>Investors looking to make a quick buck, might want to consider department store chain Nordstrom (NYSE:<a href="https://investorplace.com/stock-quotes/jwn-stock-quote/">JWN</a>). The family and namesake behind the department stores is considering <a href="https://www.reuters.com/markets/deals/nordstrom-forms-panel-evaluate-founder-familys-interest-take-private-deal-2024-04-18/">taking the company private</a>. According to media reports, the Nordstrom family has formed a special committee to evaluate privatization bids. The move comes as the 123-year-old company struggles with a decline in sales as shopping increasingly moves online. JWN stock is down 55% in the last five years. 



The special committee is apparently comprised of independent and disinterested directors who will evaluate proposals from interested parties aimed at taking it private. The current board of directors has warned that there&rsquo;s no guarantee a deal will happen in coming months, and Nordstrom has been <a href="https://www.cnbc.com/2024/04/18/nordstrom-family-tries-again-to-take-department-store-private.html">down this road before</a>. In 2017, private-equity firm Leonard Green &amp; Partners came close to taking Nordstrom private but the deal fell through. Still, if a deal does materialize, it could give a boost to the share price. 



<h2>American Express (AXP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/american_express_axp1600-300x169.jpg" alt="the American Express logo etched into wood"><div>Source: First Class Photography / Shutterstock.com</div></div>American Express (NYSE:<a href="https://investorplace.com/stock-quotes/axp-stock-quote/">AXP</a>) just saw its stock jump 6% higher in a day after the credit card giant reported a first quarter profit that beat Wall Street expectations. The company is benefitting as its cardholders, who tend to be wealthy, continue to spend generously at restaurants, shopping malls, and on travel, i.e. hotels and airline tickets. The continued spending led American Express to report Q1 earnings per share (EPS) of $3.33 compared to $2.95 that was anticipated by analysts. <a href="https://abcnews.go.com/Business/wireStory/american-express-profits-jump-34-helped-jump-new-109423828">Profits rose 34%</a> from a year earlier. 



Revenue in Q1 totaled $15.8 billion, which matched forecasts. However, sales were up 11% from a year earlier. American Express said that cardholder spending increased 7% from a year ago during the period. <a href="https://www.barrons.com/articles/american-expresss-earnings-stock-price-e513d16c">In terms of guidance</a>, American Express maintained its previous revenue growth forecast of 9% to 11% and a profit estimate of $12.65 to $13.15 per share. American Express said it expects to continue benefitting from a resilient economy. AXP stock is now up 42% in the last 12 months, including a 2024 gain of 23%. 



<h2>Procter &amp; Gamble (PG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/pg1600-300x169.jpg" alt="A Procter &amp; Gamble (PG) distribution center in Vandalia."><div>Source: Jonathan Weiss / Shutterstock.com</div></div>Consumer goods company Procter &amp; Gamble (NYSE:<a href="https://investorplace.com/stock-quotes/pg-stock-quote/">PG</a>) also had <a href="https://finance.yahoo.com/news/procter-gamble-pg-q3-earnings-120502880.html">a strong print</a>. The company behind products such as Tide laundry detergent, Gillette razor blades and Pampers diapers reported EPS of $1.52 versus $1.41 that was estimated by analysts. Management said that sales of its products, which are mostly found in grocery stores, remain strong in North America and that it is seeing improvement in China, an important market for the company. 



Revenue in what was the company&rsquo;s fiscal Q3 came in at $20.2 billion, which was slightly below forecasts of $20.41 billion. Overall sales were up 1% from a year earlier. Despite the miss on its Q1 sales, Procter &amp; Gamble did revise up its forward guidance. The company now expects its core earnings to rise between 10% and 11% in fiscal 2024, compared with its previous forecast of 8% to 9% profit growth. The guidance was enough to send <a href="https://www.cnbc.com/2024/04/19/pgs-initial-decline-had-nothing-to-do-with-earnings-investors-agreed.html">PG stock up about 1%</a> after the Q1 print. Year to date, the company&rsquo;s share price is up 6%. 



On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
<div>Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/the-top-3-retail-stocks-to-buy-in-april-2024/">The Top 3 Retail Stocks to Buy in April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.