|Bid||28.67 x 28000|
|Ask||28.68 x 800|
|Day's Range||28.54 - 28.97|
|52 Week Range||22.66 - 31.91|
|Beta (3Y Monthly)||1.66|
|PE Ratio (TTM)||10.61|
|Earnings Date||Jul 17, 2019|
|Forward Dividend & Yield||0.60 (2.10%)|
|1y Target Est||33.50|
Robotics and automation companies sit ready to benefit from challenges facing the modern world. Gain exposure using these ETFs.
Some analysts have started to price in "insurance cuts," which means they are expecting the Fed to cut rates right before a downturn in order to save the economy.
[Editor's note: This story was previously published in February 2019. It has since been updated and republished.]Investing to "buy and hold" is trickier than it looks. The increasing pace of technological change means even the most successful, dominant companies have to continually adapt to keep up. Industries like energy, real estate and even consumer products are facing potentially significant long-term changes going forward. In any era, amassing a collection of retirement stocks simply by buying the best companies and holding them for years can be a risky endeavor.General Motors (NYSE:GM) was a classic "widows and orphans" stock until last decade, when GM wound up going bankrupt. United States Steel (NYSE:X) once was a pillar of corporate America and a buy-and-hold stock. GM shares basically haven't moved in a quarter of a century. Polaroid and Eastman Kodak were once blue-chip stocks. Both went bankrupt as cameras changed from film to digital.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut there still are stocks to buy and hold out there that can last forever, while offering dividend income along the way. * 7 Value Stocks to Buy for the Second Half Here are ten such retirement stocks to buy and hold forever.Source: Shutterstock Bank of America (BAC)Dividend Yield: 2.1%It might seem strange to open the list with Bank of America (NYSE:BAC). After all, we're only a bit more than a decade on from the financial crisis. During that crisis, BofA acquisition Countrywide Financial blew up in spectacular fashion, after pioneering many of the risky tactics that led to the bubble and subsequent bust.But this is a different BofA.Net consumer charge-offs hit a decade-long low last year. Its performance on credit metrics is strong. Government regulations have been criticized as slowing growth -- but they've undoubtedly lowered risk as well, even if observers might argue that a better balance is needed.No less than Warren Buffett is now BofA's largest shareholder, through his Berkshire Hathaway Inc. (NYSE:BRK.A, NYSE:BRK.B). And the Oracle of Omaha is fond of saying that his favorite holding period is "forever."That seems likely true for BAC stock as well.Source: Mustafa Khayat Via Flickr Diageo (DEO)Dividend Yield: 2%Change has come to the alcohol industry, with the number of breweries exploding worldwide and new distilleries popping up as well. The brands owned by Diageo (NYSE:DEO) are well-positioned to adapt to shifting tastes.Diageo owns classic brands like Johnnie Walker whisky, Tanqueray gin, Smirnoff vodka, and Harp and Guinness beer, among many others. What most have in common is a timeless quality and worldwide brand recognition. As a result, while beverage giants like Coca-Cola (NYSE:KO) and Anheuser Busch InBev (NYSE:BUD) have struggled with earnings growth, Diageo grew net income by 13.5% in fiscal 2018 and expects consistent growth going forward. * 7 Value Stocks to Buy for the Second Half Yet with a trailing multiple of 26.5, and with a dividend yield of 2%, Diageo stock isn't all that dearly valued. Long-term investors would do well to own DEO and perhaps use the dividends to buy a bottle or two of fine whisky.Source: U.S. Embassy Kyiv Ukraine via Flickr (Modified) Medtronic (MDT)Dividend Yield: 2%In this day and age, the U.S. healthcare market in particular seems potentially volatile. Concerns about increased spending and political battles over the Affordable Care Act create more questions than answers.But even with that uncertainty, Medtronic (NYSE:MDT) isn't going anywhere. The company's devices are an integral part of modern medicine, ranging from pacemakers to stents to bone grafts to imaging systems.Even the risks involved in the sector look priced into MDT. Medtronic's days of double-digit annual growth may well be behind it, but it's not finished increasing earnings or dividends. MDT stock likely isn't finished rising, either.Source: Shutterstock NextEra Energy (NEE)Dividend Yield: 2.4%Utility stocks are among the most common safe, buy-and-hold stocks. NextEra Energy (NYSE:NEE) is now the largest electric utility in the U.S. by market capitalization. That might actually be the only problem with NEE stock.NextEra shares gained 18% year-to-date, and trades just off record highs. Potential valuation concerns aside, NextEra looks like a winner. It serves customers in the southern Florida region, still one of the nation's fastest-growing areas. A 22.6 forward P/E multiple is high for the space but not outlandishly so. And a 2.4% dividend yield provides income along the way. * 7 Dividend Stocks to Buy as the Trade War Reignites Investors looking for value in the space might look for a smaller play like cheaper Dominion Energy (NYSE:D). But it's usually worth paying for quality, and NextEra Energy looks like one of the best utility stocks out there.Source: Blue Genie via Flickr McCormick & CompanyDividend Yield: 1.5%McCormick & Company (NYSE:MKC) is another quality company whose valuation might spook some investors. But MKC stock very rarely is offered cheaply.The company's market leadership in spices and seasonings provides both an impressive moat and protection against economic downturns. MKC stock did dip after the company acquired French's mustard and Frank's RedHot sauce from Reckitt Benckiser (OTCMKTS:RBGLY) at a price that looked a bit high to many investors. But MKC has recovered those gains and then some.Top-line growth for McCormick likely isn't going to be explosive, but it will be steady. The same has been true of MKC stock, which has returned an average of 13% a year over the past decade, including dividends.With continuous cost-cutting initiatives, the contribution from the acquired brands and organic growth (and growth in organic products), MKC still should be able to provide double-digit annual returns going forward as well.Source: Shutterstock Allstate CorpDividend Yield: 2%Allstate Corp (NYSE:ALL) long has used the tagline, "You're in good hands," and it's true for Allstate investors as well. ALL stock has almost quadrupled from late-2011 lows. And there could be more upside to come.After all, Allstate isn't particularly expensive, trading at a 14 P/E. * 7 Value Stocks to Buy for the Second Half Once any short-term worries subside, ALL should resume its march upward.Source: Shutterstock International Flavors & Fragrances (IFF)Dividend Yield: 2%International Flavors & Fragrances (NYSE:IFF) is a company most consumers encounter every day without knowing it and many investors aren't exactly hip to it, either.As its name suggests, the company develops flavors & fragrances across 13 categories, including cosmetics, perfumes, beverages and sweet flavors. Sales and earnings have increased consistently and so has IFF's share price. At a 53 P/E, IFF does look a bit pricey. But, as with McCormick and other stocks on this list, investors should pay for quality.IFF's hidden, but key role, in so many industries, gives it a great deal of protection against both competition and macro factors. Acquisitions and a growing cosmetic additive business both provide room for growth.Consumers may not know IFF, but investors should.Source: Shutterstock Lamb WestonDividend Yield: 1.4%Lamb Weston (NYSE:LW) was spun off from Conagra Brands (NYSE:CAG) last year. Lamb Weston is the No. 1 potato producer in the United States. In fact, it manufactures the well-known fries at McDonald's (NYSE:MCD), among other restaurant chains.Lamb Weston also has a consumer business (including a small segment that manufactures frozen vegetables), while serving restaurants of all sizes. Health concerns might seem a long-term headwind against the business, but growth has been steady for years, and margins continue to improve.LW is targeting international markets for growth, as French fries have much more limited penetration, while international audiences generally are intrigued by Americanized products.Despite growth and leading market share, LW stock isn't particularly cheap, trading at about 19 times next year's earnings. The company did pick up a fair amount of debt in the CAG spinoff. But it's paying that debt down, which should lower interest expense and boost cash flow going forward. * 7 Value Stocks to Buy for the Second Half With many similar stocks trading at much higher multiples, LW seems to have room for upside. And international growth should offset any health-related concerns in the U.S., should they arise. America's love affair with French fries isn't going to suddenly end, and that should ensure years of stability for Lamb Weston at least.Source: Shutterstock Fortune Brands (FBHS)Dividend Yield: 1.6%Investors are commonly advised to diversify their portfolio. Fortune Brands Home & Security (NYSE:FBHS) has done just that. The company operates in four segments: Cabinets, Plumbing, Doors, and Security. Among its well-known brands are Moen in plumbing, and MasterLock in security.FBHS is more of a cyclical stock than most on this list, and the company no doubt has benefited from the steady, if slow, housing recovery in the U.S. But the company's products also generate relatively stable replacement demand, and a 1.6% dividend yield provides modest, but growing, income.Fortune Brands has been an impressive company since its founding and a solid stock since its 2011 IPO. There may be a bit more volatility here, but that's a worthwhile price to pay for long-term investors. There's enough value in Fortune Brands to ride out any market jitters.Source: Shutterstock Republic ServicesDividend Yield: 1.74%Republic Services (NYSE:RSG) is a bit smaller and likely a lot less well-known than rival Waste Management (NYSE:WM). But in this case, that's not necessarily a bad thing.Republic Services has outgrown its larger competitor in both sales and earnings over the past five years. RSG stock has modestly outperformed WM over the same period as well. Investors appear to believe that will continue, as Republic Services is valued a bit higher than Waste Management, at least based on forward earnings multiples.Both RSG and WM are solid long-term plays. Contracted revenue and steady demand should support both companies for years to come. There's room for further acquisitions in a relatively fragmented space. Republic Services gets the nod here due to slightly better growth and more room for margin improvement. * 7 Value Stocks to Buy for the Second Half But investors looking for safe, stable growth can't go wrong with either RSG or WM.As of this writing, Vince Martin was long MKC. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Value Stocks to Buy for the Second Half * 7 Hot Stocks to Buy for a Seemingly Sleepy Summer * 6 Chip Stocks Staring At Big Headwinds in 2019 Compare Brokers The post 10 'Buy-and-Hold' Stocks to Own Forever appeared first on InvestorPlace.
SAN JOSE, Calif., June 19, 2019 /PRNewswire/ -- SunPower (SPWR) today announced that with Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) and SunStrong Capital Holdings, LLC, it has secured financing commitments for its residential solar lease program that will help meet SunPower's expected customer demand into 2020. SunPower has provided solar lease financing options to customers since 2010.
Bank of America is putting billions more toward helping homebuyers afford closing costs nationally, including in this region.
Bank of America Corp (NYSE: BAC )'s valuation multiples and consensus estimates for 2020 appear too low, according to BMO Capital Markets. The Analyst BMO’s James Fotheringham upgraded Bank of America ...
Shares of Bank of America Corp. gained 0.4% in premarket trading Tuesday, after a bullish call from BMO Capital analyst James Fotheringham, who said Street expectations and valuations "look too low." Fotheringham raised his rating to outperform, after being at market perform for at least the past three years, while keeping his price target at $37, which is 33% above Monday's stock closing price of $27.93. Fotheringham said about one-third of the potential upside to his price target is based on expected upward revisions of consensus earnings expectations, on the back of higher fees and share repurchases and lower tax rates. The remaining two-thirds of the potential gain is from an expected "rerating" of price-to-earnings valuations, given that the stock is currently trading at a 15% discount to average valuations that have historically been seen during benign economic conditions. He said even if the Federal Reserve lowers interest rates, an increase in consensus earnings expectations should more than offset any dilution to net interest margin. The FactSet 2019 EPS consensus of $2.85 is down from $2.90 at the end of March, but is up from $2.61 a year ago. The stock has lost 6.3% over the past three months, while the SPDR Financial Select Sector ETF has edged up 0.3% and the Dow Jones Industrial Average has gained 2.0%.
Bank of America Corp NYSE:BACView full report here! Summary * Perception of the company's creditworthiness is neutral * ETFs holding this stock are seeing positive inflows * Bearish sentiment is low * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is extremely low for BAC with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting BAC. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding BAC are favorable, with net inflows of $8.44 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swap | NeutralThe current level displays a neutral indicator. BAC credit default swap spreads are within the middle of their range for the last three years.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
In the latest trading session, Bank of America (BAC) closed at $27.93, marking a -0.39% move from the previous day.
When folks think of the Berkshire Hathaway (BRK.B) portfolio and its collection of holdings, most of which were selected by Chairman and CEO Warren Buffett, the companies that most readily come to mind are probably American Express (AXP), Coca-Cola (KO) and, more recently, Apple (AAPL).But a deep dive into Berkshire Hathaway's equity holdings reveals a more complicated picture.Berkshire Hathaway held positions in 48 separate stocks as of March 31, according to regulatory filings with the Securities and Exchange Commission. But the portfolio of "Buffett stocks" isn't as diversified as the number might suggest. In some cases, BRK.B holds more than one share class in the same company. Some holdings are so small as to be immaterial leftovers from earlier bets the Oracle of Omaha has yet to completely exit.And perhaps most importantly, Berkshire Hathaway's equity portfolio is actually pretty concentrated. The top six holdings account for almost 70% of the portfolio's total value. The top 10 positions comprise nearly 80%. Banks and airlines, to cite a couple of sectors, carry quite a load in this portfolio. Then there's the fact that several Buffett stocks actually were picked by portfolio managers Todd Combs and Ted Weschler.Here, we examine each and every holding to give investors a better understanding of the entire Berkshire Hathaway portfolio. SEE ALSO: The 19 Best Stocks to Buy for the Rest of 2019
Wells Fargo and Bank of America, two of the largest banks in Greater Baltimore, will provide millions for down payment assistance grants to low- and moderate-income homebuyers.
(Bloomberg) -- Like masterpieces by Van Gogh, Picasso and Rothko, the storied auction house Sotheby’s is slipping into wealthy private hands, in a $2.7 billion deal that will reshape the global art market.Billionaire Patrick Drahi agreed to buy the 275-year-old firm, ending Sotheby’s three decades as a public company. Drahi, a disciple of media mogul John Malone, is seizing on the upheavals that have shaken the centuries-old auction model.The deal announced Monday pulls the inner workings of the art market even deeper into the shadows. As a private company, Sotheby’s will no longer be required to disclose quarterly results, which had put it at a competitive disadvantage compared with arch-rival Christie’s, owned by another French billionaire, Francois Pinault. Those periodic reports also provided a “public bellwether” for the art market with insight into margins, executive compensation, strategy, capital allocation and the stock’s reaction to major economic and political forces, said Evan Beard, an art-service executive at Bank of America Corp.“That all goes underground now,” Beard said. “It’s a transparency shift."Investors including Dan Loeb’s Third Point hedge fund, Sotheby’s second-biggest shareholder, will receive $57 in cash for each share of Sotheby’s common stock, the New York-based auction house said Monday in a statement. The offer represents a 61% premium to Friday’s closing price.Sotheby’s shares had dropped 40% in the past year as the company grappled with higher costs and shrinking margins even as masterpieces and contemporary works set auction records. Drahi, 55, is chairman of Altice Europe NV, a publicly traded telecommunications firm with more than 30 million customers. He’s worth $8.6 billion and the sixth-richest person in France, according to the Bloomberg Billionaires Index."It’s a trophy acquisition," said Franck Prazan, owner of Applicat-Prazan gallery, who was a managing director at Christie’s France when Pinault bought the company. “These auction houses aren’t really meant to be publicly traded, and they’re better off being owned by a personal fortune. The profitability of a publicly traded auction house is extremely volatile.”Bold dealmaking is well in character for Drahi, who single-handedly built a global telecom behemoth in the span of two decades through relentless acquisitions and an embrace of debt. The Moroccan-born Frenchman, who’s also an Israeli citizen, is said to have proposed to his wife within an hour of meeting her. He harbored ambitions of one day running a global company. Realizing that goal could take decades to materialize if he stayed on the corporate track, he quit his first job with a Dutch satellite firm and founded his own cable businesses with the help of a student loan.Cutthroat CompetitionIn 2016, in a $17.8 billion deal, Altice acquired Cablevision Systems Corp., where Sotheby’s Chief Executive Officer Tad Smith honed his managerial skills before taking the reins at Madison Square Garden Co.Altice Europe’s main asset is SFR, a French telecommunications company. The business is finally returning to growth after years of customer losses amid cutthroat competition. Shares of Altice Europe have advanced about 70% this year, though they remain more than 50% below their 2015 peak.Drahi’s takeover would mean that French citizens will own the world’s two major auction houses. Pinault, the founder of Paris-based luxury goods giant Kering SA, initially acquired a stake in Christie’s two decades ago from British billionaire Joe Lewis.“It was ripe for Sotheby’s to go private,” said former Christie’s executive Philip Hoffman, now CEO of the Fine Art Group. “Christie’s has more advantages being run privately and not having public quarterly reporting that puts pressure on their ability to do deals.”The branding potential of Sotheby’s had attracted investors including Loeb, whose Third Point hedge fund is the second-largest shareholder, with a 14.3% stake.Loeb joined the board in 2014 after a bitter proxy fight, and senior managers were replaced soon after. Investments in technology and advisory services followed -- as well as significant milestones, such as the sale of a Jean-Michel Basquiat painting for $110 million in 2017. Still, Sotheby’s has consistently trailed Christie’s in annual sales.“Today’s sale price affirms the value we saw when we first invested in Sotheby’s, and rewards long-term investors like Third Point who believed in its potential,” Loeb said Monday in a email.To contact the reporters on this story: Katya Kazakina in New York at email@example.com;Angelina Rascouet in Paris at firstname.lastname@example.org;Devon Pendleton in New York at email@example.comTo contact the editors responsible for this story: Pierre Paulden at firstname.lastname@example.org, ;Alan Goldstein at email@example.com, Peter EichenbaumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Two weeks after scrapping their overweight recommendation for equities, Credit Suisse Group AG strategists are saying that the risks are now tilted to the upside.“On balance, we think there is more risk of a ‘melt-up’ than a meltdown, and find that we are more positive than most of the clients we meet,” analysts led by Andrew Garthwaite said in a note to clients on Monday.To be fair, the strategists expect the MSCI All Country World Index to rise just 6% by year-end and hesitate to make a stronger call until there’s more clarity surrounding trade talks, economic data and earnings revisions. But softer monetary policy in addition to a bet that earnings growth will recover is making Credit Suisse optimistic that equities can go higher.The analysts said that many investors may be undervaluing stocks as more than 40% of clients it surveyed in May didn’t pay attention to the appeal of valuations based on so-called equity risk premium. That’s the potential excess return for investing in shares over risk-free assets. According to the broker, equity valuations are “much more attractive” from a risk premium perspective rather than from a price-to-earnings standpoint.Credit Suisse joins the likes of Bank of America Merrill Lynch, which on Friday said that investors’ short positioning and exodus from stocks, which has reached about $152 billion this year, is a contrarian bullish indicator. Since the Swiss broker removed its tactical overweight on stocks in early June, global equities have gained 3.7% as traders embraced the U.S. Federal Reserve’s openness to rate cuts.Haven SearchAt the same time, the rally in defensive shares has continued this month along with bond fund inflows, signaling that investors are searching for havens. This week should provide more clarity on the market’s direction as the Federal Reserve, the Bank of Japan and the Bank of England all set monetary policy.Meanwhile, friction between the U.S. and Iran, clashes in Hong Kong and uncertainty over a G-20 meeting between President Donald Trump and China’s Xi Jinping mean that the gains in stocks stand on thin ice.But for now, the Swiss broker recommends playing the upside risk by being overweight European non-financial cyclicals, which suffer from bearish economic growth predictions, as well as U.S. growth stocks. Both asset classes tend to outperform most of the time when the Federal Reserve cuts rates, Credit Suisse said.\--With assistance from James Cone.To contact the reporter on this story: Ksenia Galouchko in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Blaise Robinson at email@example.com, Jon Menon, Paul JarvisFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
CBJ's most recent Top 50 list ranks Charlotte-area public company executives by total compensation.
Choosing the right indicators can be a daunting task for novice traders. It’s a much easier process when they focus their effects into five categories.
Some researchers boosted forecasts for second-quarter economic growth following the reports. Less upbeat numbers for payrolls and inflation in the past week led many investors to increase bets that the Fed will lower borrowing costs in the next couple of months. “Today’s report was a bit of relief for the Fed. It takes out a sense of urgency for them to act,” Michelle Meyer, head of U.S. economics at Bank of America Corp., said after the retail figures.
Bank of America today announced findings from the latest Merrill Edge® Report, which reveals people are feeling simultaneously optimistic and overwhelmed by their finances. Merrill is committed to empowering clients and helping them plan for the future at every age and in every stage of their financial lives through a combination of tools, people and know-how across Merrill Edge Self-Directed, Merrill Guided Investing, and Merrill Lynch Wealth Management.
The recommendation to "buy when there's blood in the streets" has been attributed to more than one rich businessman but is a solid approach to creating substantial wealth. With that, below are five investors who demonstrated remarkable timing by making big investments during the credit crisis and are well on their way to huge gains as a result. In October 2008, Warren Buffett published an article in The New York Times op-ed section declaring he was buying American stocks during the equity downfall brought on by the credit crisis.
Branch expansion is high on the agenda at HSBC, with plans to open up to 50 branches nationally over the next few years.
(Bloomberg) -- Wall Street was feeling pretty good about Broadcom Inc. in mid-March as its semiconductor business appeared to be turning the corner and Chief Executive Officer Hock Tan saw “meaningful growth” in the second half of the year.A lot has changed since then.Trade relations between the U.S. and China have soured. One of Broadcom’s biggest customers was banned from buying American components. Spending on data centers has remained sluggish. So the big question on analysts’ minds heading into Thursday’s post-market earnings report is whether Tan’s prediction for the latter part of 2019 remains intact.In the past four weeks, the average analyst estimate for third-quarter revenue fell by about $50 million to $6.1 billion, while expectations for adjusted profit fell by 5 cents to $5.71 a share, according to data compiled by Bloomberg. With the stock down 13% from an April 17 record, some on Wall Street see potential for the stock to rally as expectations have fallen.“We view AVGO shares as attractive ahead of earnings given what appears to be lower expectations and our belief that the company’s longer-term growth and profitability prospects remain solid,” MKM Partners analyst Ruben Roy wrote in a research note on Monday, referring to Broadcom by its ticker symbol.The San Jose, California-based company’s products and global customer base make its results a key indicator for how trade tensions are affecting the semiconductor industry. Almost half of Broadcom’s revenue last year was linked to China. Huawei Technologies Co., which the U.S. government is blacklisting, purchases Broadcom switch chips that are a key component of the Chinese company’s networking gear.Broadcom is also a major supplier of chips to Apple Inc. and recently signed an agreement with the iPhone maker to extend that relationship. Analysts and investors use the chipmaker’s commentary on the wireless market to get a window into demand in the smartphone market.Bank of America analysts led by Vivek Arya reiterated their buy rating on Broadcom on Monday, saying the effects of the Huawei ban and macroeconomic risks are “well expected.”“Key focus will be commentary on second half recovery, cloud capex spending and smartphone unit trends,” they wrote in a research note.Broadcom shares fell as much as 0.8% Thursday. Options prices imply a 6.9% move in the shares after the post-market earnings release, compared with an average 4.5% following the past eight reports, according to data compiled by Bloomberg.Just the Numbers2Q adjusted EPS from continuing operations estimate $5.15 (range $4.73 to $5.46)2Q adjusted net revenue estimate $5.67 billion (range $5.45 billion to $5.91 billion) 2Q adjusted gross margin estimate 70.6% 2Q semiconductor solutions revenue estimate $4.28 billion 2Q infrastructure software revenue estimate $1.36 billion 3Q adjusted net revenue estimate $6.11 billion (range $5.80 billion to $6.30 billion) 3Q adjusted gross margin estimate 69.6% FY adjusted net revenue estimate $24.31 billion (range $23.68 billion to $24.70 billion); forecast $24.5 billionData26 buys, 12 holds, 0 sells Avg PT $320.20 (14.2% upside from current price) Implied 1-day share move following earnings: 7.0% Shares rose after 8 of prior 12 earnings announcements Adjusted EPS beat estimates in 12 of past 12 quarters Quarter dividend BDVD est. $2.65 per share, year ago reported $1.75; next declaration date June 13, 2019 TimingEarnings release expected June 13 after market close Call 5pm (New York time), 866-310-8712 password: 3044229 Conference call website(Updates with today’s trading in ninth paragraph.)To contact the reporters on this story: Jeran Wittenstein in San Francisco at firstname.lastname@example.org;Ian King in San Francisco at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Richard Richtmyer, Alistair BarrFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.