In today’s briefing:
- Stablecoins: Does Trust Really Matter?
- Incyte Corporation: New Approvals for Opzelura and Zynyz & Other Drivers
- Cognizant Technology Solutions: Launch of Cognizant Neuro AI Platform & Other Drivers
- Paycom Software Inc.: Launch of Global HCM & Other Drivers
- ANSYS Inc.: Investments In AI & HPC
- Marriott International Inc.: City Express & Digital Networks Driving Growth – Key Drivers
- Uber Technologies Inc.: Fall In ETAs A Good Sign? – Key Drivers
- The Clorox Company: Launch of Start Clean & Other Developments
- Ecolab Inc.: Improved Data Visibility For Water & Other Drivers
- Howmet Aerospace Inc.: Commercial Aerospace Resurgence Is Saving The Day – Key Drivers
Stablecoins: Does Trust Really Matter?
- The stablecoin market has been upended in 2023.
- The start of the year saw BUSD given an expiry date of 2024, a banking crisis in March hit USDC and DAI hard, while Binance anointed TUSD as its stablecoin of choice by choosing it for one of the few zero-fee BTC pairs in crypto.
- All of these events had huge ramifications for stablecoin market structure.
Incyte Corporation: New Approvals for Opzelura and Zynyz & Other Drivers
- Incyte had a terribly disappointing first quarter and failed to meet the revenue expectations as well as earnings expectations of Wall Street.
- The company’s product revenue increased 14% year over year as Jakafi was in high demand among patients across all indications.
- In hematology and oncology, the ongoing launches of Pemazyre and Minjuvi ex-U.S. were the primary factors in the 17% rise year over year.
Cognizant Technology Solutions: Launch of Cognizant Neuro AI Platform & Other Drivers
- It was a successful first quarter for Cognizant Technology Solutions.
- The adjusted operating margin for the first quarter was 14.6%, and the company had quarterly solid bookings growth of 28% YoY.
- We give Cognizant Technology Solutions Corporation a ‘Hold’ rating with a revised target price.
Paycom Software Inc.: Launch of Global HCM & Other Drivers
- Paycom Software had impressive results in the first quarter and managed an all-round beat with revenues of $452 million, up 28% year over year.
- Employee self-service payroll continues to create significant client acquisitions for Beti, which remains a critical difference in the industry.
- We give Paycom Software a ‘Buy’ rating with a revised target price.
ANSYS Inc.: Investments In AI & HPC
- Ansys managed an all-around beat in Q1 and its results exceeded expectations across all key metrics.
- ANSYS invests in five technology pillars: numerics, high-performance computing (HPC), artificial intelligence (AI), 3D design, and system-level simulation.
- In addition to its investment in numerics, HPC, AI, 3D design, and system-level simulation, ANSYS has been working with key partners to develop new technologies to enhance its capabilities further and bring value to its customers.
Marriott International Inc.: City Express & Digital Networks Driving Growth – Key Drivers
- Marriott International delivered a solid quarterly result that was an all-around beat resulting from strong demand growth globally, with a decent performance across all geographies and hotel levels.
- U.S. and Canadian RevPAR increased by 26% year over year while occupancy increased by 8% to 66%.
- Global card acquisitions climbed by 35% year on year, while global card expenditure increased by 16%.
Uber Technologies Inc.: Fall In ETAs A Good Sign? – Key Drivers
- Uber Technologies started 2023 on a strong note, with gross bookings up 22% yearly in constant currency.
- In addition, Uber produced a 12% increased adjusted EBITDA margin and $549 million in free cash flow.
- We give Uber Technologies a ‘Hold’ rating with a revised target price.
The Clorox Company: Launch of Start Clean & Other Developments
- Despite a difficult operational and cost environment, Clorox produced solid results in the third quarter, managing an all-around beat, with organic sales growth in each of its 4 businesses, an increase in gross margin, and double-digit adjusted EPS growth.
- Clorox made excellent strides throughout the quarter by increasing margin while sustaining top-line growth.
- Clorox also experienced an increase in gross margin, helped by cost-justified pricing and cost reductions that reached a decade-high level.
Ecolab Inc.: Improved Data Visibility For Water & Other Drivers
- Ecolab performed well in the third quarter and managed an all-around beat.
- In the quarter, margins expanded significantly.
- Organic sales had a solid improvement across all segments, increasing from 12% in the fourth quarter to 13% in the first.
Howmet Aerospace Inc.: Commercial Aerospace Resurgence Is Saving The Day – Key Drivers
- Howmet Aerospace had a strong first quarter with revenues of $1.6 billion, up 6% sequentially and 21% over the previous year.
- Commercial aerospace sales increased 29% year on year, led by Engine Products, Engineered Structures, and Fastening Systems.
- Defence Aerospace increased 11% year on year, led by the F-35 program and increases in legacy spares.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
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
