In today’s briefing:
- Citigroup Stock Q1 Earnings Preview: What To Watch For
- Chasing The Sun
- Between Chilean Copper Woes & Brazilian Sugar Rush
- WDFC: Slippery Times for the Stock
Citigroup Stock Q1 Earnings Preview: What To Watch For
- Despite fears of a banking crisis, Citibank’s held-for-sale and trading securities are likely to be marked higher amid a favorable 3-month liquid bond and equity market environment.
- Citi’s ex-market debt portfolio is at risk of lower recoveries and heightened cyclical exposure.
- Citigroup Inc. (NYSE:C) is due to release its first-quarter earnings report before the market opens on Friday, April 14th.
Chasing The Sun
- In the wake of soaring energy prices and heightened concerns over energy security following the Russia-Ukraine conflict, residential demand for solar power has skyrocketed.
- This surge in interest is further fueled by a combination of factors: the reduced cost of solar panels thanks to increased manufacturing scale and the Inflation Reduction Act that extends the 30% solar tax credit, making solar more accessible to a broader segment of society.
- Amidst this solar boom, Complete Solaria is gearing up to go public through a SPAC merger later this year.
Between Chilean Copper Woes & Brazilian Sugar Rush
- As the new season commences in April, Brazil is predicted to manufacture 40.3 million tonnes of sugar, marking the second highest yield ever recorded.
- This is primarily due to the favorable climate conditions and the sufficient capitalization of mills, allowing for the proper care of crops.
- As per a report by Job Economia, mills are likely to concentrate on sugar production, reducing ethanol production, since the cost of sugar futures is at its highest in over six years.
WDFC: Slippery Times for the Stock
- WDFC reported fiscal second quarter (February) results continuing to depict a soft demand environment. WDFC reported a decline in unit volume across all major geographies
- WDFC reported fiscal second quarter sales of $130.2 million compared to $124.9 million achieved in fiscal first quarter.
- The Company reduced its inventory level only to raise its accounts receivable by more than the decline in inventory and the increase in sales
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