Daily Brief United States: Copper, GLOBALFOUNDRIES , Samsara, Crude Oil, Pepsico Inc, BrainStorm Cell Therapeutics I, Natural Gas, Harley Davidson, Build A Bear Workshop, NOV and more

• Did China Just Trigger Commodity Markets?
• China’s central bank last week announced a new stimulus package to the economy to curb the growth decline that is still going on.
• Chinese stocks jumped and also “Chinese-linked commodity prices” like soy, copper and steel gained momentum as Governor Pan Gongsheng announced plans to lower borrowing costs and inject more funds into the economy, as well as to ease households’ mortgage repayment burden.

• Tier 2 foundry revenue recovery is taking far longer than most expected. 
• Globalfoundries 2024 CapEx is less than one tenth of what SMIC is spending. Even Hua Hong is spending more. This makes investors nervous.
• Globalfoundries CapEx strategy is a pragmatic one and will pay dividends in the years to come

• Samsara is focused on monitoring and optimizing operations through its technology
• Strong revenue growth and market potential attract investors
• Becoming the “system of record” for operational intelligence could lead to increased customer retention and expansion opportunities

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.

• US rig count declined by one to 587 for the week ending 27/Sep, marking the sixth drop in seven weeks. Despite this, the rig count increased by six in Q3.
• The US oil rig count fell by four to 484 after staying flat last week. Gas rigs rose by three to 99, marking its second increase in six weeks.
• For the week ending 27/Sep, US energy producers added one rig in Texas and cut two in New Mexico and one in Louisiana.  

• PepsiCo’s 2024 second quarter earnings report reflects a complex landscape shaped by strategic adjustments and variable consumer behavior, especially in the context of a challenging US market.
• The company’s results are indicative of both resilience and areas requiring attention, navigating ongoing economic shifts and consumer sentiment.
• Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

• BrainStorm Cell Therapeutics Inc. (Nasdaq: BCLI) develops NurOwn® stem cell therapy for NDDs – BCLI’s first target is ALS (MND/Lou Gehrig’s).
• BCLI on Friday confirmed its reverse stock split (R/S) to become effective today 30 Sept 2024 (to maintain Nasdaq listing).
• Reverse stock splits are often (though not always) an effective mechanism and often lead to an upwards re-rating as psychological market factors come into play.

• US natural gas prices jumped 19.2% for the week ending 27/Sept, marking the largest weekly increase since November 2023, driven by strong demand and concerns over supply cuts.
• Henry Hub Put/Call volume ratio fell to 1.03 (27/Sep) from 1.69 the previous week as put volumes fell by 45.5% WoW, while call volumes declined by 10.1%.
• Put OI increased for contracts expiring in October and November, while call OI rose for expiries in December, January, February, and March.

• Harley-Davidson recently reported its financial results for the second quarter of 2024, showcasing several advancements and challenges in its performance.
• The company reported a 12% increase in consolidated revenue, driven by growth in both the Harley-Davidson Motor Company (HDMC) and the Harley-Davidson Financial Services (HDFS) sectors, marking a resilient performance amid prevailing economic headwinds.
• The earnings per share showed a significant improvement at $1.63, and the overall operating income grew by 9% to $241 million.

• We are reiterating our Buy rating, $41 price target and projections for Build-A-Bear workshop after visiting partner-operated locations in London, Milan and Paris.
• With international expansion a key, and a high margin, focus for the company, we believe now is an opportune time to visit international locations.
• We have remained impressed with Build-A-Bear partners ability to replicate the core of Build-A-Bear’s business model, from a strong assortment of “furry friends,” a personalized buying experience, the joy of having your own “furry friend” made in front of you and creating lasting memories.

• NOV Inc. has reported a strong performance in the second quarter of 2024, with revenues reaching $2.22 billion, indicating a 6% increase compared to the same period in 2023.
• Notably, international markets demonstrated double-digit growth, and the offshore sector grew by 6%, contrasting with a slight 1% decline in North American sales.
• The company achieved a net income of $226 million or $0.57 per fully diluted share, an improvement from the previous year.