Daily Brief United States: Bitcoin, Schlumberger Ltd, NVIDIA Corp, Halliburton Co, Travelzoo Inc, Ares Commercial Real Estate, Arrowhead Pharmaceuticals , Weatherford International , Smartsheet Inc, Range Resources and more

• First, the crypto market has seen substantial gains in the past week, particularly Bitcoin, which is now trading at $67,000 for the first time since mid-June, having previously traded as low as $53,500.
• Please do not make the mistake of thinking that we cannot go higher in the near future.
• Let us reiterate the bullish outlook we have put forward in what feels like forever.

• Schlumberger’s revenue grew 12.9% YoY and beat estimates by 0.7%, while its net profit rose by 7.65% YoY and beat estimates by 2.9%.
• Revenue from North America grew 3% sequentially but fell 6% YoY due to lower drilling activity in the US.
• Management expects low single-digit sequential revenue growth in Q3 2024 and free cash flow in H2 2024 to be higher than in H1 2024.

• NVIDIA Corporation, a titan in the semiconductor industry, has been at the forefront of artificial intelligence (AI) innovation, primarily due to its cutting-edge GPUs that power everything from deep learning algorithms to complex simulations.
• As the company approaches its earnings report, investors are keenly observing the performance of its AI-driven products amidst a backdrop of global market dynamics and regulatory challenges.
• The company’s recent advancements, such as the “Blackwell” chip series, promise significant improvements in processing speed and efficiency.

• Halliburton’s Q2 revenue rises by 0.6% YoY, held back by an 8% YoY decline in revenue from North America. It missed its revenue estimates by 1.9%.
• Strong performance from the international operations more than offset the slowdown in North America. Revenue from international markets rose 8% YoY.
• For 2024, Halliburton forecasts a 10% YoY increase in international revenue, while North American revenue is expected to decline by 6-8% YoY.

• Travelzoo (TZOO) is an online club for travel enthusiasts, featuring travel deals from airlines, hotels, cruiselines, vacations, and vouchers for offers from local businesses.

• TZOO has 223 employees, TZOO boasts 30 million members, 8 million mobile app users and 5 million social media followers, and publishes deals from over 5,000 travel, entertainment and local providers.

• In 2020, due to the pandemic, which decimated travel generally, TZOO’s revenues declined ~50% and the company lost $1/sh. 

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• ACRE is a commercial real estate REIT sponsored by Ares Management Corp, a major investment manager with over $400 billion in assets.
• ACRE has a $2.2 billion portfolio of 47 loans in various sectors, but has been underperforming compared to competitors in the commercial mortgage REIT space.
• Despite underperformance, ACRE and Ares Management are actively working to improve the situation and potentially increase returns for investors.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Arrowhead Pharmaceuticals delivered a comprehensive update on its operational and financial developments for the fiscal second quarter ended March 31, 2024.
• A major focus for the company during this period has been its expanding presence in the cardiometabolic space, where substantial investments have been channeled to advance clinical and pre-commercial activities.
• In these endeavors, significant strides were made with plozasiran and zodasiran, their leading drug candidates designed to tackle diseases associated with lipid disorders.

• Weatherford International delivered another strong quarter, driven by significant year-over-year growth in revenue and improved operational efficiencies.
• The company reported a 15% increase in revenue compared to the same period last year, with the international business showing remarkable strength, particularly in the Middle East, North Africa, and Asia regions, which grew by 32%.
• Sequentially, revenue remained flat, which is notable given the typical seasonal decline expected in the first quarter.

• Smartsheet has recently been in the news for fielding buyout interest.
• The company reported its First Quarter of Fiscal Year 2025 earnings with positive developments, demonstrating steady improvements.
• The company showcased an expansion, notably reaching a total of 72 customers with annualized recurring revenue (ARR) over $1 million, marking a 50% increase from the previous year.

• Range Resources Corporation showcased a robust set of financial and operational results in the first quarter of 2024, as detailed in the recent update.
• The company’s strategic initiatives have been closely aligned with industry demands and market conditions, facilitating a balanced approach towards capital allocation, operational efficiency, and shareholder returns.
• Range Resources reported successful operational outcomes with a focus on driving operational improvements and efficiency across the board.