United States Daily Briefs | Page 49 of 153

Jun 04

Daily Brief United States: EURO/US DOLLAR and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

Next USD Trade

Next USD Trade

By Thomas Schroeder

USD rise met tactical rally objectives. USD dip/rally sequence in play with a focus on adding to the USD near DXY 103 and gunning for 105.80.
Euro, NZD, AUD. USD/JPY. ZAR. Re cycle game plan. Sterling and SGD our USD dip bets to overlap with USD long reduce zones.
US 10yr 3.80% yield top call with 3.40% pocket support. Yield will be pivotal in a near term USD dip sequence.

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Jun 02

Daily Brief United States: Intel Corp, NASDAQ Composite Index, Builder.ai, Salesforce.Com Inc, Datadog Inc, Conocophillips, Martin Marietta Materials, Mettler Toledo International Inc, Quanta Services, Viacom Inc Class B and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

Will Intel Ride The AI Wave?
Downgrading Discretionary & Health Care to Market Weight, Staples & Utilities to Underweight
Qatar Sovereign Fund Joins the US$250M Series D Round of Builder.ai
Salesforce: The Market Is Once Again Missing The Forest For The Trees
Datadog Inc.: Can The Codiga Acquisition Bring It To A Whole New Level In Observability? – Key Drivers
ConocoPhillips: Breaking Production Milestones Good Enough In The Current Environment? – Key Drivers
Martin Marietta Materials Inc.: Major Drivers
Mettler-Toledo International Inc.: Launch Of Automated Label Inspection Solution & Other Developments
Quanta Services Inc.: Is The RP Construction Services Acquisition A Big Boost To Its Infra Solutions Platform? – Key Drivers
Paramount Global: Are The Tough Times Here To Stay? – Key Drivers

Will Intel Ride The AI Wave?

By William Keating

Intel’s CFO boosted the current quarter outlook to the higher end of the guided range of $12 billion +/- $500 million
Intel’s share price was up 4.8% in overnight trading, presumably a result of the forecast boost
While Intel’s CFO thinks Intel is set to ride an AI wave, we think it will be more like riding a ripple across a rising tide that lifts all boats.

Downgrading Discretionary & Health Care to Market Weight, Staples & Utilities to Underweight

By Joe Jasper

Since January 2023 we’ve anticipated for 4165-4200 to cap upside on the S&P 500 for 2023, but that a rally to 4300-4325 is also possible; this remains our view.
In our 5/2/23 Compass we discussed how the Nasdaq Composite was testing 12,300 resistance, and that a breakout and reach to 13,180 is possible.
The Nasdaq Composite hit 13,154 Tuesday as Technology (XLK), and to a lesser extent Communications (XLC), are seemingly in a blowoff stage, while all other Sectors are neutral to bearish.

Qatar Sovereign Fund Joins the US$250M Series D Round of Builder.ai

By e27

Builder.ai, an AI-powered composable software platform, has raised US$250 million in a Series D funding round led by Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar.
Existing and new investors, including Iconiq Capital, Jungle Ventures, and Insight Partners, joined.
This round takes Builder.AI’s total fund raised so far to US$450 million.

Salesforce: The Market Is Once Again Missing The Forest For The Trees

By Vladimir Dimitrov, CFA

Most of the red flags that I have outlined before are now being taken care of, but I remain cautious for the time being.
The market continues to react negatively to what was in my view a very good quarter, says Salesforce’s chief executive.
A lot has changed since I first covered Salesforce (NYSE:CRM), back in December of 2020.

Datadog Inc.: Can The Codiga Acquisition Bring It To A Whole New Level In Observability? – Key Drivers

By Baptista Research

Datadog had a good Q1 as they exceeded analyst expectations on all fronts, with revenue of $482 million, a 33% YoY increase, and added approximately 1,400 net new customers.
The company observed growth from existing customers and continued to see customers optimizing their cloud spend.
In addition, Datadog made significant advancements in its product offerings, introducing new security capabilities such as Application Vulnerability Management and enhancing its Cloud Security Management product.

ConocoPhillips: Breaking Production Milestones Good Enough In The Current Environment? – Key Drivers

By Baptista Research

ConocoPhillips produced a good first quarter performance, managing an all-around beat, breaking both company and Lower 48 production milestones.
Production was outstanding, averaging 1,792,000 barrels of oil equivalent per day due to strong performance across the board.
With new wells coming online and good strong performance, Lower 48 underlying production increased by 8% year over year, reaching 1,036,000 barrels of oil equivalent per day on average.

Martin Marietta Materials Inc.: Major Drivers

By Baptista Research

Martin Marietta had a solid start to the year and managed to surpass the revenue expectations as well as the earnings expectations of Wall Street.
Financially, Martin Marietta reported increased revenues, gross profit, earnings per share, and adjusted EBITDA.
Solid aggregate demand was observed across their footprint, with attractive pricing fundamentals.

Mettler-Toledo International Inc.: Launch Of Automated Label Inspection Solution & Other Developments

By Baptista Research

It was a successful first quarter for Mettler-Toledo International, with solid sales and profit growth and an all-around beat.
Sales growth was broad-based across various markets, driven by effective market identification and attractive growth opportunities.
Strong execution on margin initiatives and cost control resulted in solid earnings growth despite significant currency headwinds.

Quanta Services Inc.: Is The RP Construction Services Acquisition A Big Boost To Its Infra Solutions Platform? – Key Drivers

By Baptista Research

Quanta Services had a successful first quarter with double-digit revenue growth and strong performance across segments.
Their management team sees opportunities for further backlog growth driven by base business and energy transition projects.
In the quarter, Quanta Services also completed the acquisition of RP Construction Services.

Paramount Global: Are The Tough Times Here To Stay? – Key Drivers

By Baptista Research

It was a challenging Q1 for Paramount Global, with total revenue of $7.3 billion and the company failed to meet the revenue expectations as well as the earnings expectations of Wall Street.
Free cash flow in Q1 was a use of $554 million, aligned with expectations for negative free cash flow in 2023, but positive free cash flow is anticipated in the back half of the year.
The company aims to improve earnings and free cash flow through franchise content, commercial execution, and operating efficiencies, targeting positive growth in 2024.

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Jun 01

Daily Brief United States: S&P 500 INDEX, Tesla Motors, Mondelez International and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

SPX Met Blow off Zone
Tesla’s Still Bloated Inventory Signals June Sales May Disappoint, Along With Q2 Market Estimates
Mondelez: When Strong Brands Are Properly Managed, Results Follow

SPX Met Blow off Zone

By Thomas Schroeder

SPX kissed our 4,250 overshoot zone to unwind our 4,120 long. A case of selling the fact as Euphoria fades and reality sets in.
RTY remains our top US short and is underperforming the SPX. 1,710 near target with a June bias to crack this pivotal support.
US 10yr yield met our rally and sell target at 3.80%. Macro take was to sell yield at 3.80% to test pocket support. USD will lag.

Tesla’s Still Bloated Inventory Signals June Sales May Disappoint, Along With Q2 Market Estimates

By Vicki Bryan

Tesla traditionally sells 50-60% of total quarterly sales in the last month—until now.
Stubbornly high inventory levels signal that trend is at risk—along with ambitious market estimates for Q2
June deliveries may track lower versus April+May and be down y/y. If so, Q2 deliveries may be little changed or even lower versus Q1 results.

Mondelez: When Strong Brands Are Properly Managed, Results Follow

By Vladimir Dimitrov, CFA

Mondelez is one of the best-performing large cap consumer staple businesses, while also being a relatively low risk stock.
Mondelez remains fairly valued and with that is offering a multiple repricing opportunity, according to a recent investment thesis.
The company is offering several repricing opportunities for investors.

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May 31

Daily Brief United States: Medtronic Plc, Chewy Inc, Us Bancorp and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

Medtronic Plc (MDT US): Strong Q4 Result; New Acquisition Announced; Fx Headwind to Impact FY24
Insiders Continue To Sell Chewy Stock. FY23 Guidance Seems Overly Optimistic
U.S. Bancorp: Still Severely Overvalued

Medtronic Plc (MDT US): Strong Q4 Result; New Acquisition Announced; Fx Headwind to Impact FY24

By Tina Banerjee

Medtronic Plc (MDT US) reported 6% YoY revenue growth to $8.5B, ahead of expectations, driven by procedure volume recovery, supply improvements, and innovative product introductions.
Medtronic intends to acquire Korea-based Eoflow (294090 KS), manufacturer of a tubeless, wearable, full-disposable insulin delivery device, for $738M. The transaction is expected to close in 2H23.
Medtronic guided for FY24 adjusted EPS of $5.00–5.10, including ~6% unfavorable impact from Fx. The company forecasts 4.0–4.5% organic revenue growth in FY24, accelerating from 2.1% in FY23.

Insiders Continue To Sell Chewy Stock. FY23 Guidance Seems Overly Optimistic

By Andrei Zakharov

Chewy will report 1QFY23 financial results after the market close on Wednesday, May 31, 2023. Management expects 1QFY23 net sales of between $2.72B and $2.74B, representing 12%-13% y/y growth.
I calculate that insiders such as CEO & Director Mr. Singh, CFO Mr. Marte, and other management team sold ~$28M worth of Chewy shares during the last six months.
My bear case scenario suggests downside on the continued slowdown in consumables, hard goods sales, intense competition in the pet insurance and pet health care segments, and uncertain macro environment.

U.S. Bancorp: Still Severely Overvalued

By Pearl Gray Equity and Research

U.S. Bancorp stock remains severely overvalued, according to a top-down analysis.
The firm’s non-interest-bearing income is facing troubles as mortgage applications and corporate activity is slowing down.
The analysis contradicts a bearish outlook, but the observation is isolated and carries little substance.

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May 30

Daily Brief United States: SafeCoin, Interactive Strength Inc, Gold, Ethereum, Colgate Palmolive Co, Amazon.com Inc, Lear Corp, Lyondellbasell Indu Cl A and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

Safe | May 27, 2023
Interactive Strength Inc. – Investment Thesis
Make or break time for Gold // Goldman Sachs has no feeling for timing oil trades
ETH Liquidity Shows Positive Trend
Colgate-Palmolive Company: New Cost Management Initiatives & Other Drivers
Amazon.com Inc.: International Expansion & Innovation As A Key Growth Driver – Financial Forecasts
Lear Corporation: The I.G. Bauerhin Acquisition Upside & Other Drivers
LyondellBasell Industries: Why Is The Company’s Stock a ‘Hold’ Despite Beating Earnings?

Safe | May 27, 2023

By Etherbridge

The Web3 era, characterised by a decentralised internet and blockchain technology, presents opportunities and challenges in equal measure.
Prominent among these challenges are security and usability issues, which demand a high degree of attention and innovativeness.
Safe, formerly known as Gnosis Safe, a programmable smart contract account, stands at the forefront of this innovation, offering a multitude of benefits that greatly enhance the user experience overall.

Interactive Strength Inc. – Investment Thesis

By Baptista Research

This is our first report on Forme and we look to provide a detailed account of the various drivers that will be responsible for the company’s growth in the coming years.
Its top-line revenue has increased from a low starting point, while operating losses, operating cash flows, and EBITDA loss have all decreased.
This is unlike many large incumbents like Peloton who have struggled with a high cash burn for many years.

Make or break time for Gold // Goldman Sachs has no feeling for timing oil trades

By The Commodity Report

While the Flash Manufacturing PMI came in lower than expected at 48,5 (50,0 expected), the Flash Service PMI came in once again higher than expected at 55,1 (52,6 expected)
Prometheus Research shared this overview with us that highlights that the Service sector continues to hold this economy up.
The majority of service businesses continue to stay in the growing territory – this needs to change before we actually see a recession in the service sector as well. Keep in mind that the Manufacturing sector in the US accounts for “only” 11% of GDP!

ETH Liquidity Shows Positive Trend

By Kaiko

Since the collapse of FTX last year, there has been little good news on the liquidity front for crypto assets.
The shutdown of the Signet and SEN fiat settlement networks in the US severely impacted market makers operational efficiency.
This can be seen in 2% market depth for ETH, which dipped in March and has failed to recover to pre-FTX levels.

Colgate-Palmolive Company: New Cost Management Initiatives & Other Drivers

By Baptista Research

Colgate-Palmolive had a good start to 2023, and delivered an all-around beat in the first quarter.
There was a boost in the company’s projections for net and organic sales growth as well as base business earnings per share growth for the year.
Colgate-Palmolive is facing headwinds with respect to its earnings per share growth given the impact of raw and packaging materials costs, foreign exchange, and below-the-line costs.

Amazon.com Inc.: International Expansion & Innovation As A Key Growth Driver – Financial Forecasts

By Baptista Research

Amazon.com delivered strong results in the first quarter, with global net sales of $127.4 billion, an increase of 11% when adjusted for the approximately 210 basis points unfavorable impact of changes in foreign exchange rates.
Moderate discretionary expenditure was observed in the quarter, with a shift towards more affordable goods and strong demand for daily necessities like consumables and cosmetics.
The company’s revenue from stores and unit sales increased year over year in Q1 at a faster rate than its fulfillment costs and outbound shipping costs.

Lear Corporation: The I.G. Bauerhin Acquisition Upside & Other Drivers

By Baptista Research

Lear had a solid start to the year, with an all-around beat in the recent quarterly result.
The management intends to start making full seats with essential thermal components for these vehicles.
Besides, the company acquired IGB, which will be essential to growing its Thermal Comfort Systems business and boosting its market share and profits in the seating industry.

LyondellBasell Industries: Why Is The Company’s Stock a ‘Hold’ Despite Beating Earnings?

By Baptista Research

LyondellBasell delivered a mixed set of results in the last quarter with revenues below analyst expectations but managed an earnings beat.
At the end of the first quarter, LyondellBasell had $1.8 billion in cash on hand.
With the successful start-up of their world-scale PO/TBA facility, capital expenditures associated with plant construction will be substituted with increased cash generation.

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May 29

Daily Brief United States: NVIDIA Corp, CCC Intelligent Solutions Hold and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

NVIDIA. Yikes! Have We Missed The Boat?
The Future of Insurance

NVIDIA. Yikes! Have We Missed The Boat?

By William Keating

Q1’23 revenues of $7.19 billion, down 13% from a year ago but up 19% sequentially and ~10% higher than the guided midpoint.
Current quarter outlook for revenues of $11 billion, a ~55% sequential increase, sparked mayhem in the markets and sent NVIDIA’s stock soaring over 24% in after hours trading
Don’t go chasing waterfalls, there are many other ways to rise with the tide

The Future of Insurance

By subSPAC

SPACs are often synonymous with high-risk, cash-intensive early-stage companies making their public debut, but occasionally, a SPAC deal like CCC Intelligent Solutions emerges and shifts the narrative.
CCC is a SaaS business with four decades of operational history in the property and casualty insurance sector that went public through a SPAC in 2021.
Over the company’s history, it has processed over $1 trillion in transactions for 30,000 businesses.

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May 28

Daily Brief United States: Church & Dwight Co, Cloudflare , Fidelity National Info Serv, First Solar Inc, International Paper Co, Rockwell Automation, Sirius Xm Holdings, Snap Inc, Textron Inc and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

Church & Dwight Co: Capacity Expansion Update & Other Drivers
Cloudflare Inc.: Does It Have A Sustainable Competitive Advantage? – Key Drivers
Fidelity National Information Services Inc.: Is The Recurring Revenue Growth in Banking and Capital Markets Here To Stay? – Key Drivers
First Solar Inc.: The Evolar AB Acquisition May Be Small But Is Key For Future Growth – Major Drivers
International Paper Company: How Long Will The Struggles Continue? – Key Drivers
Rockwell Automation: The Strategic Partnership with Autonox Robotics Could Be A Game Changer – Key Drivers
Sirius XM Holdings Inc.: Launch Of Sports-Focused Social Channels & Other Developments
Snap Inc.: Acquisition Of Th3rd For 3D Scanning Capabilities & Other Drivers
Textron Inc.: Major Contracts With The U.S

Church & Dwight Co: Capacity Expansion Update & Other Drivers

By Baptista Research

Church & Dwight had a particularly robust Q1 as the company reported solid revenue growth of 10.2% and an all-around beat.
The management exceeded its Q1 outlook with organic sales increasing by 5.7%, driven by more robust performance across multiple brands, including Hero, THERABREATH, ARM & HAMMER laundry, and ARM & HAMMER litter.
With encouraging signs such as flat volume growth after a series of declines, the company’s team anticipates volume growth throughout the year.

Cloudflare Inc.: Does It Have A Sustainable Competitive Advantage? – Key Drivers

By Baptista Research

Q1 was a challenging quarter for Cloudflare as the company failed to meet the revenue expectations of Wall Street as a result of various the headwinds.
However, macroeconomic uncertainty lengthened sales cycles and affected close rates, resulting in a back-end weighted quarter.
Despite these challenges, Cloudflare remains resilient and profitable, with an operating profit of $19.4 million and generating $13.9 million of free cash flow.

Fidelity National Information Services Inc.: Is The Recurring Revenue Growth in Banking and Capital Markets Here To Stay? – Key Drivers

By Baptista Research

Fidelity National Info (FIS) had a successful start to 2023, surpassing Wall Street expectations in terms of revenues as well as earnings.
FIS experienced significant recurring revenue growth in their banking and capital markets businesses and impressive organic growth in their e-commerce segment.
We give Fidelity National Information Services a ‘Buy’ rating with a revised target price.

First Solar Inc.: The Evolar AB Acquisition May Be Small But Is Key For Future Growth – Major Drivers

By Baptista Research

First Solar had a very disappointing result in the last quarter as it failed to meet the revenue expectations as well as the earnings expectations of Wall Street.
With their CadTel technology, vertically integrated manufacturing process, and commitment to Responsible Solar, First Solar could stand out from competitors and maintains long-term competitiveness.
The recent acquisition of the European perovskite company, Evolar AB was also a part of the expansion strategy.

International Paper Company: How Long Will The Struggles Continue? – Key Drivers

By Baptista Research

International Paper had a challenging start to 2023 as its revenue was slightly down though still above analyst expectations.
International Paper reported $65 million of year-over-year incremental earnings benefits from building better IP initiatives, but lower prices across their portfolio and weaker demand impacted margins.
Despite these challenges, International Paper remained focused on their key priorities of taking care of employees, customers and maximizing shareholder value.

Rockwell Automation: The Strategic Partnership with Autonox Robotics Could Be A Game Changer – Key Drivers

By Baptista Research

It was a successful second quarter for Rockwell Automation, as the company outperformed market expectations in terms of both sales and earnings.
The company’s strong execution, focus on business resiliency, and improved electronic component availability contributed to double-digit sales and margin growth.
Despite the uncertain economic environment, Rockwell Automation’s differentiated offerings continued to experience robust demand, with organic sales surpassing expectations.

Sirius XM Holdings Inc.: Launch Of Sports-Focused Social Channels & Other Developments

By Baptista Research

Sirius XM had a bad quarter and they failed to meet the revenue expectations as well as the earnings expectations of Wall Street.
Their launch of @SIRIUSXMSPORTS also enhances their social media presence and helps them to remain connected with subscribers and reach new audiences on Instagram.
We give Sirius XM Holdings a ‘Hold’ rating with a revised target price.

Snap Inc.: Acquisition Of Th3rd For 3D Scanning Capabilities & Other Drivers

By Baptista Research

It was a challenging yet promising quarter for Snap as it failed to meet the revenue expectations of Wall Street but surprisingly managed to deliver a positive bottom-line.
Despite a 7% year-over-year decrease in revenue, the company reached 383 million daily active users in Q1 and showcased the community’s continued growth.
Snap introduced My AI, an AI-powered chatbot, and unveiled new features at the Snap Partner Summit, emphasizing their commitment to innovation.

Textron Inc.: Major Contracts With The U.S

By Baptista Research

It was a mixed first quarter for Textron as the company failed to meet the revenue expectations of Wall Street given the lower revenues observed at Bell.
Despite the Aviation, Industrial, and Systems segments offsetting the decline, Textron’s revenues were below expectations though it did manage an earnings beat.
Textron Aviation received an initial award on the US Navy Multi-engine Training System contract, and fleet utilization remained strong, contributing to aftermarket revenue growth.

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May 27

Daily Brief United States: Intel Corp, Mosaic Co/The, Chevron Corp, Dexcom Inc, Domino’s Pizza, Eli Lilly & Co, Comcast Corp Class A, Etsy Inc, Harris Corp, Keurig Dr Pepper Inc and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

Intel Has Big Problems Ahead
The Mosaic Company: A Structural Transition Away from Exports in Phosphates – Key Drivers
Chevron Corporation: Acquisition of PDC Energy As A Part Of Oil & Gas Industry Consolidation & Other Drivers
DexCom Inc.: Launch of G6 Glucose Monitoring System & Other Drivers
Domino’s Pizza Inc.: Store Additions Continue To Drive Growth – Key Drivers
Eli Lilly and Company: Can Rezvoglar Destroy Sanofi’s Insulin Market Share? – Key Drivers
Comcast Corporation: Subscriber Growth Slowdown & Growing Peacock Losses Are Concerning – Key Drivers
Etsy Inc.: Can It Really Outperform The Major Indices? – Key Drivers
L3Harris Technologies Inc.: Launch of Next-Generation NTS-3 Satellite & Other Developments
Keurig Dr Pepper Inc.: Does The Long-Term Growth Potential of Single-Serve Pod Business Make It A Buy? – Key Drivers

Intel Has Big Problems Ahead

By Kevin George

The chip industry is seeing two “transitions” Intel is being phased out with the GPU shift, according to the company.
The company is also expected to be phased out of the chip industry with the next generation of processors.
The chip company is expected to have a new generation of chips in the coming years.

The Mosaic Company: A Structural Transition Away from Exports in Phosphates – Key Drivers

By Baptista Research

The Mosaic Company had a mixed quarter with revenues of $3.6 billion that were above Wall Street expectations but the company missed out on earnings.
While supply issues are still a worry, this is drawing growers back to the market.
We give The Mosaic Company a ‘Buy’ rating with a revised target price.

Chevron Corporation: Acquisition of PDC Energy As A Part Of Oil & Gas Industry Consolidation & Other Drivers

By Baptista Research

Chevron once again produced impressive financial results in the most recent quarter and delivered an all-around beat.
Despite 20% lower oil prices, adjusted first-quarter earnings increased by more than $200 million over the previous year.
Adjusted upstream earnings decreased due to realizations, while adjusted downstream earnings grew due to greater refining margins.

DexCom Inc.: Launch of G6 Glucose Monitoring System & Other Drivers

By Baptista Research

DexCom had a strong quarter and managed an all-around beat with strong organic revenue growth of 19% compared to last year.
The company’s momentum in global CGM adoption remains high, driven by the growing recognition of the unique experience DexCom provides.
The launch of their G7 system has been met with enthusiasm, supported by a successful Super Bowl commercial that generated significant engagement and awareness.

Domino’s Pizza Inc.: Store Additions Continue To Drive Growth – Key Drivers

By Baptista Research

Domino’s Pizza had a mixed quarter.
The company’s revenues were below Wall Street expectations but its operating income margin increased by 100 basis points year-over-year resulting in an earnings beat.
In the first quarter, Domino’s international company opened 143 new stores while closing 37 others, totaling 106 net new stores.

Eli Lilly and Company: Can Rezvoglar Destroy Sanofi’s Insulin Market Share? – Key Drivers

By Baptista Research

Eli Lilly is off to a mixed start in 2023, with volume-driven revenue growth led by its incretin portfolio, Verzenio and Jardiance.
The new product category delivered $574 million in sales, while the new product and growth product categories together contributed 20 percentage points to volume increase.
We give Eli Lilly and Company a ‘Hold’ rating with a revised target price.

Comcast Corporation: Subscriber Growth Slowdown & Growing Peacock Losses Are Concerning – Key Drivers

By Baptista Research

Comcast Corporation started off with 2023 on a mixed note.
While its revenues and earnings were above Wall Street expectations, the total company revenue of $29.7 billion fell 4%.
We give Comcast Corporation a ‘Hold’ rating with a revised target price.

Etsy Inc.: Can It Really Outperform The Major Indices? – Key Drivers

By Baptista Research

Etsy reported another strong performance and kickstarted the year with an all-around beat.
With a roughly 11% increase in revenue to $641 million, the company’s adjusted EBITDA margin was once again very high at 26.6%.
Etsy also witnessed strong trends in apparel, particularly in personalized and pop culture-related tops, tees, hoodies, sweatshirts, bags, purses, and gift goods.

L3Harris Technologies Inc.: Launch of Next-Generation NTS-3 Satellite & Other Developments

By Baptista Research

It was a successful first quarter for L3Harris as they delivered an all-around beat while building momentum in orders and backlog.
The company saw top-line growth of 9% across all segments, along with improved operating income in two out of three segments.
They also reaffirmed their 2023 guidance, with a potential bias towards the higher end of the revenue range due to strong revenue growth and significant orders.

Keurig Dr Pepper Inc.: Does The Long-Term Growth Potential of Single-Serve Pod Business Make It A Buy? – Key Drivers

By Baptista Research

The last quarter proved to be a successful one for Keurig Dr Pepper.
Their U.S. refreshment beverages segment performed exceptionally well, with share gains in multiple categories and significant market share growth for brands like Dr.
Pepper.

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May 26

Daily Brief United States: NVIDIA Corp, Futu Holdings Ltd, Aspira Women’s Health, Lido DAO Token and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

Nvidia Results Blow-Out: Multi-Year Growth Ahead; Wiwynn in Taiwan, Plus a Smallcap Wildcard AI Play
[Futu Holdings (FUTU US, BUY, TP US$51) Review]: A Resilient Quarter Under Regulatory Pressure
Aspira Women’s Health, Inc. – OvaWatch Is Here; Watch Out!
LDO’s Shifting Market Structure: Unveiling Asset Metrics

Nvidia Results Blow-Out: Multi-Year Growth Ahead; Wiwynn in Taiwan, Plus a Smallcap Wildcard AI Play

By Vincent Fernando, CFA

Nvidia’s results and guidance sparked a massive rally in the shares, marking one of the largest single-day increases in market cap in U.S. stock market history.
The company sees a multi-year growth cycle of data center upgrades ahead. Key supply chain partners TSMC and ASML are rising as well.
Wiwynn in Taiwan should be a key winner. We also highlight a potential wildcard smallcap AI play that we will investigate further.

[Futu Holdings (FUTU US, BUY, TP US$51) Review]: A Resilient Quarter Under Regulatory Pressure

By Shawn Yang

Futu reported 1Q23 revenue 12.7%/14.8% higher than our est./cons., non-GAAP NI 21.2%/19.5% higher than our est./cons., mainly due to strong margin financing and security lending activities during volatile market;
Futu’s operation and client trading behaviours remain steady in 1Q23 after the implement of rectification measures from regulators.
On the other side, overseas expansion in Japan and Malaysia may start to kick-off in 2H23; We maintain BUY rating on FUTU and maintain TP at US$51.

Aspira Women’s Health, Inc. – OvaWatch Is Here; Watch Out!

By Water Tower Research

Aspira Women’s Health (AWH) hosted an Investor Day on May 23, which focused on its OvaWatchSM and EndoCheckTM diagnostic tools.
Two clinicians, Dr. Kevin Elias of Harvard Medical School, and Dr. Tamika Sea of Piedmont Henry Hospital in Atlanta, spoke to investors about their experience with AWH’s diagnostic technology.
OvaWatch, currently on the market, is a very important tool in monitoring and determining suspicious adnexal masses (indeterminate masses that show up on pelvic ultrasound scans).

LDO’s Shifting Market Structure: Unveiling Asset Metrics

By Kaiko

Asset Metrics is perhaps the most powerful product that Kaiko has ever released.
With a single endpoint, users are able to fetch historical liquidity and volume data for any asset we cover, including all instruments and all exchanges – centralized or decentralized.
Additionally, it includes historical holder data for a wide variety of ERC-20 tokens.

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May 25

Daily Brief United States: CRISPR Therapeutics AG, S&P 500 INDEX, Bristol Myers Squibb Co, Edwards Lifesciences, Gilead Sciences, Caterpillar Inc, Intel Corp, RCI Hospitality Holdings, Seadrill , Altria Group and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

CRISPR Therapeutics AG (CRSP US): First Genome Editing Based Drug Candidate Seeking FDA Approval
SPX Sequence into Early June
Bristol Myers Squibb Company: Are The New Strengthened Cell Therapy Capabilities Enough? – Key Drivers
Edwards Lifesciences Corporation: TAVR Therapy & Strong Investments For The Future – Key Drivers
Gilead Sciences Inc.: The Xinthera Acquisition Strengthens The Oncology Pipeline – Key Drivers
Caterpillar Inc.: Collaboration With Nouveau Monde Graphite & Other Drivers
Intel Corporation: Expansion of Cloud Capabilities & Other Drivers
RCI Hospitality Holdings, Inc. – 2Q Results Exceed Expectations
SDRL: Early Arrival of Free Cash Flow
Altria Group Inc.: Acquisition Of NJOY Holdings & Other Drivers

CRISPR Therapeutics AG (CRSP US): First Genome Editing Based Drug Candidate Seeking FDA Approval

By Tina Banerjee

CRISPR Therapeutics AG (CRSP US) completed regulatory submissions for exa-cel in the U.S., EU, and UK, positioning exa-cel to potentially become the first approved CRISPR-based therapy in the world.
According to Evaluate Pharma, if approved, exa-cel’s revenue is expected to be $1B+ in 2028, with expected market share of 20% in sickle cell and 36% in beta thalassemia.
As of March 31, 2023, CRISPR has cash, cash equivalents, and marketable securities of $1,889.5M, which is sufficient to fund its operating expenses for ~3 years.

SPX Sequence into Early June

By Thomas Schroeder

SPX has once again slipped from the 4,200 high zone. Bounce support lies at 4,120/100.
Our preferred sequence touted a pullback from 4,200-20 which holds 4,100 and rockets back to 4,200+ on the back of a debt deal with overshoot risk to 4,250.
Any new June high will be unsustainable and fall prey to macro undercurrents. USD getting a bid on yield and risk aversion.

Bristol Myers Squibb Company: Are The New Strengthened Cell Therapy Capabilities Enough? – Key Drivers

By Baptista Research

Bristol Myers had a mixed start to 2023 with below par revenues but its earnings exceeded analyst expectations as the management continues to accelerate the renewal of its portfolio and execute its strategy.
During the quarter, the company’s new product portfolio and in-line brands grew.
Revenue from its new product portfolio more than doubled as compared to the previous year.

Edwards Lifesciences Corporation: TAVR Therapy & Strong Investments For The Future – Key Drivers

By Baptista Research

The last quarter proved to be a strong one for Edwards Lifesciences and its results exceeded market expectations in terms of revenues as well as earnings.
While Japan faced lingering COVID impacts, strong growth was observed in the U.S., Europe, and the rest of the world.
With a positive outlook, a strong pipeline, a raised sales expectation for the full year, and a commitment to innovation and clinical outcomes, the Edwards Lifesciences management intends to capitalize on the opportunities in the cardiovascular healthcare market.

Gilead Sciences Inc.: The Xinthera Acquisition Strengthens The Oncology Pipeline – Key Drivers

By Baptista Research

It was a mixed quarter for Gilead Sciences as the company’s revenues were above Wall Street expectations but it missed out on the earnings front.
On the expense side, R&D expenses came in higher than anticipated, reflecting the company’s commitment to investing in research and development.
We give Gilead Sciences, Inc. a ‘Hold’ rating with a revised target price.

Caterpillar Inc.: Collaboration With Nouveau Monde Graphite & Other Drivers

By Baptista Research

Caterpillar had a strong start to 2023 with an all-around beat.
The company’s result was marked by double-digit top-line growth across all segments, higher operating profit margins, and significant adjusted profit per share.
Caterpillar experienced healthy customer demand across most end markets for its products and services, reflecting the successful execution of its long-term growth strategy.

Intel Corporation: Expansion of Cloud Capabilities & Other Drivers

By Baptista Research

Intel delivered solid first-quarter results with revenues above expectations and narrower than expected losses.
The fallouts of this quarter demonstrate the advancement Intel is making to advance the company’s transformation as well as the IDM 2.0 strategy.
In the quarter, Intel introduced its 13th Gen Intel Core Mobile processor, followed by its new vPro platform.

RCI Hospitality Holdings, Inc. – 2Q Results Exceed Expectations

By Water Tower Research

2Q Summary. RCI reported another strong quarter, surpassing our projections.
The company has proven its ability to generate significant FCF, driving accelerated growth.
We see several catalysts on the near-term horizon (Rick’s Cabaret Steakhouse & Casino, organic growth from Bombshells, and club acquisitions), which should drive a reacceleration in earnings growth in FY24.

SDRL: Early Arrival of Free Cash Flow

By Hamed Khorsand

SDRL reported Q1 results affirming the positive attributes of the business after repositioning assets in the fourth quarter. The first quarter included economic utilization of 95% resulting in cost absorption
Day rates continue to trend higher putting SDRL in an advantageous spot as a portion of its fleet becomes available late in 2023 and early 2024
Subsequent to the first quarter, SDRL closed the acquisition of Aquadrill and has now provided full year guidance incorporating the business

Altria Group Inc.: Acquisition Of NJOY Holdings & Other Drivers

By Baptista Research

It was a disappointing quarter for Altria Group as the company failed to meet the revenue expectations as well as the earnings expectations of Wall Street.
The resilience of their leading brands like Marlboro and Copenhagen is strong but it couldn’t help the company deliver revenues up to the mark.
Additionally, Altria saw the continued growth of Oral Nicotine Pouch products solidifying its position in the oral tobacco category.

💡 Before it’s here, it’s on Smartkarma

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

✓ Unlimited Research Summaries
✓ Personalised Alerts
✓ Custom Watchlists
✓ Company Data and News
✓ Events & Webinars

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