In today’s briefing:
- [Q2 Earnings Preview] Google: Ad Revenue & Cloud Growth Plus AI Advancements in Focus
- [Earnings Preview] Halliburton: Leans on International Operations Amid North American Weakness
- EB: TikTok a New Momentum
- Alcoa Corporation: Strategic Acquisition Of Alumina & 5 Pivotal Growth Drivers
- Cadence Design Systems: Their Story Of Strategic Partnerships & Expansion through Mergers and Acquisitions! – Major Drivers
- ADEA: License to Preview
- Alphabet’s $23 Billion Bet On Wiz: What It Means for the Future of Google Cloud
- LGVN: Alzheimer’s Drug on a Roll with FDA
- GameStop: The Sinking Ship with a New Paint Job – Should You Board?
- Genuine Parts Company: Strategic Acquisitions and Store Ownership in U.S. Automotive Sector As A Key Growth Lever! – Major Drivers
[Q2 Earnings Preview] Google: Ad Revenue & Cloud Growth Plus AI Advancements in Focus
- Google’s ad revenue growth consensus is 11.7% YoY in Q2, with some analysts projecting even higher, reflecting robust global digital ad spend trends.
- Google Cloud’s revenue reached $9.5 billion in Q1 2024, marking a 35% YoY increase and a 4x growth over the past four years. Q2 expected to see continued growth.
- AI investments and innovations showcased at Google I/O aim to boost user experience and market leadership, with potential double-digit growth.
[Earnings Preview] Halliburton: Leans on International Operations Amid North American Weakness
- Halliburton forecasts low double-digit revenue growth from its international business and flat revenue growth from North America in 2024.
- Management expects sequential margin growth of 25-75 bps in its Drilling & Evaluation and Completion & Production segments in Q2 2024.
- Halliburton expects its FCF to rise 10% YoY in 2024. The company returned nearly 60% of its FCF to shareholders in 2023.
EB: TikTok a New Momentum
- EB has teamed up with TikTok in an integration that could lead to a sharp increase in new creators and overall traffic on EB’s marketplace.
- TikTok announced on its blog that EB has been integrated to allow content creators to manage and promote events within their TikTok content.
- The integration would enable followers to purchase tickets to creators’ events straight from TikTok without having to leave the platform.
Alcoa Corporation: Strategic Acquisition Of Alumina & 5 Pivotal Growth Drivers
- Alcoa Corporation recently reported its first quarter 2024 earnings, delivering a mix of strategic developments and financial results that reflect the company’s evolving business landscape.
- The company announced a significant transaction, the acquisition of Alumina Limited, which is expected to consolidate its ownership in the Alcoa World Alumina and Chemicals joint venture.
- This all-stock deal, valued at approximately $2.2 billion, aims to provide a streamlined corporate structure and enhance shareholder value.
Cadence Design Systems: Their Story Of Strategic Partnerships & Expansion through Mergers and Acquisitions! – Major Drivers
- Cadence Design Systems, Inc. recently reported a strong start to the year 2024, announcing first-quarter results that surpassed expectations and raised the financial outlook for the remainder of the year.
- Revenue for the quarter stood at $1.09 billion with non-GAAP earnings per share (EPS) reaching $1.17, underscoring a robust performance against the backdrop of dynamic market conditions.
- The company cited a record backlog of $6 billion as a primary driver for its optimistic revenue outlook, attributing this in part to burgeoning trends across AI, automotive, and 5G technologies.
ADEA: License to Preview
- •It has been the summer of renewals at ADEA leading to a directionless stock since ADEA reported Q1 results. ADEA has announced several renewals, LBTYA, since the beginning of May
- We are now more than two weeks into the third quarter lending credibility to why the shares have yet to react positively
- We were already forecasting the probability of a new license occurring later in the year and are keeping our earnings estimates unchanged heading into ADEA reporting second quarter results.
Alphabet’s $23 Billion Bet On Wiz: What It Means for the Future of Google Cloud
- Alphabet, Google’s parent company, has been buzzing all over Reddit and other platforms as the companyis on the brink of its largest acquisition ever, a $23 billion deal for cloud-based cybersecurity firm Wiz.
- This acquisition, if completed, will significantly bolster Alphabet’s cybersecurity capabilities and enhance its Google Cloud services.
- The potential benefits include strengthening its market position in cybersecurity and offering more integrated services to its cloud customers.
LGVN: Alzheimer’s Drug on a Roll with FDA
- Longeveron is focusing on using its primary treatment, Lomecel-B, to fight a rare pediatric heart birth defect that devastates families but continues to receive good FDA news regarding its treatment for Alzheimer’s Disease.
- The company announced that Lomecel B has been granted the Fast Track designation by the FDA, only a week after being granted the RMAT designation, which we believe further demonstrates the positive momentum of LGVN.
GameStop: The Sinking Ship with a New Paint Job – Should You Board?
- GameStop, once the epicenter of the retail investor revolution led by the enigmatic Roaring Kitty (Keith Gill), has seen a dramatic resurgence in attention.
- Gill, who became famous for his substantial stake in GameStop during the 2021 meme stock frenzy, recently reappeared with jaw-dropping claims of substantial holdings in GameStop and Chewy.
- However, the recent results and financial disclosures reveal a company that, despite superficial improvements, is fundamentally unstable.
Genuine Parts Company: Strategic Acquisitions and Store Ownership in U.S. Automotive Sector As A Key Growth Lever! – Major Drivers
- Genuine Parts Company reported its first quarter 2024 earnings, showing progress and some headwinds across its business segments.
- With a strong start to the year, the company reported total GPC sales of $5.8 billion, marking a slight increase compared to the previous year.
- This comes against the backdrop of a previously strong first quarter in 2023.
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