Daily Brief United States: Crude Oil, Adeia, Immix Biopharma Inc, Carrier Global Corp, ATN International, Howmet Aerospace, Newmont Mining, Intuitive Surgical, Carlisle Cos and more

• At TMA we deliver high probability outcomes by focusing on our 3 pillars of technical analysis. •1) Response to key levels. •2) Price action. •3) Momentum confirmation.
• The past 3 weeks have produced a failed new 2023 high in WTI Crude Oil futures (CL1), a bearish weekly reversal pattern and a break below the recent prominent gap.
• A weekly close below the gap base at 75.72 will confirm a renewed and dominant MT downtrend bias and target a retest of the 2023 low at 64.12.

• ADEA has seen its stock price decline in the past month since announcing license agreements with two major NAND memory makers
• This could have put too much emphasis on the semiconductor side of the business even though it is purely additive to the business model
• The expected year over year decline in first quarter 2023 revenue is related to one-time license payment last year

Immix Biopharma continues to share encouraging data from the Phase Ib/II open-label NEXICART-1 trial. This study is investigating NXC-201, a CAR-T therapy, for the treatment of multiple myeloma (MM) and light chain amyloidosis (ALA). At the European Society for Blood and Marrow Transplantation 49th Annual Meeting in Paris, Immix announced positive results for the 58 patients enrolled so far. An overall response rate (ORR) of 92% was reported for patients with MM, and an ORR of 100% for patients with ALA. The therapy has also continued to show a favorable safety profile, building on a comprehensive data package to support NXC-201 as the first potential outpatient CAR-T therapy, offering significant market differentiation, in our view. Management plans to submit a biologics license application (BLA) for FDA approval in MM once 100 patients have been treated, and in ALA once 30–40 patients have been treated.

• Carrier Global’s results for the last quarter were an all-around beat and its cash flows, earnings, and sales were in line with the expectations of the management.
• It delivered organic sales growth supported by double-digit growth in commercial HVAC and light commercial, trailer and global truck, and after-market.
• Carrier made progress in its innovative Lynx platform and has launched various new capabilities this quarter.

• ATNI started its first quarter earnings call with a tease that is likely to receive investor praise once officially announced. ATNI is finalizing a carrier service agreement 
• ATNI already has a carrier service agreement with AT&T (T) where ATNI has been building wireless towers for FirstNet
• During the first quarter ATNI added more broadband and mobile customers within each of its business segments.

• With its earnings just around the corner, it is interesting to look at how Howmet Aerospace has been performing in recent times.
• The company exited the last quarter with a strong acceleration in revenue despite the choppy backlog.
• Commercial transportation, which impacts fastening systems and forged wheels, was up in the quarter, driven by higher volumes and higher aluminum prices.

• Newmont Corporation ended 2022 with a mixed fourth-quarter performance.
• The company generated $3.2 billion in revenue in Q4 and started Q1 with a $2.7 billion of revenue.
• Newmont improved the coaching and development of its frontline leaders to improve the effectiveness of its important control verifications.

• Intuitive Surgical managed an all-around beat in the last quarter with decent revenue and products growth.
• The new capital installs were quite strong, with customers building their Ion and da Vinci system capabilities.
• A capable product portfolio and strong growth in procedures have supported quite a healthy capital placement quarter.

• Carlisle’s earnings came in a little soft in the quarter, driven mostly by a greater magnitude of de-stock than first anticipated and some weather-related delays.
• In addition, the company lowered guidance for the year for CCM with a hit to both margins and volumes.
• I was already below guidance on margins for this year but I was too high on sales, and the deleverage has caused margins to come in <30% for 2023.