Daily Brief United States: Electronic Arts, Global Payments, SolarEdge Technologies , Devon Energy, Biomarin Pharmaceutical, Thorne HealthTech Inc, Immix Biopharma Inc, Metlife Inc, Rockwell Automation and more

• Electronic Arts delivered a mixed set of results in the last quarter, with revenues below the analyst consensus.
• The company achieved net bookings of $1.6 billion, up 21% yearly, due to continued growth across the EA SPORTS FIFA ecosystem and the release of Star Wars Jedi: Survivor.
• Electronic Arts executed across its business during the quarter, introducing 5 new high-quality titles and offering over 145 content upgrades across 37 titles.

• Despite the uncertain financial situation around the world, Global Payments managed to exceed analyst expectations in terms of revenue as well as earnings.
• The company once again produced excellent organic growth in the Merchant Solutions business, driven by the continuous success of their companies that use technology.
• This quarter, they again achieved significant revenues, outpacing the impressive results of the previous quarter.

• SolarEdge Technologies delivered mixed results in the quarter, with revenues failing to meet analysts’ expectations but above-par earnings.
• SolarEdge’s solar business generated $947 million in revenue, while its non-solar businesses generated $44 million.
• Their solar business revenue increased due to significant revenues in Europe.

• Devon Energy Corporation delivered a mixed result in the quarter, with revenues above expectations, but the company failed to surpass the analyst consensus regarding earnings.
• In terms of production, the company managed to increase oil volumes by 8% year over year this past quarter.
• By averaging 323,000 barrels per day in the quarter, this outcome beat midpoint forecast estimates and created a new all-time high oil production high for the corporation.

• BioMarin Pharmaceutical delivered an all-around beat in the most recent quarterly result.
• In the quarter, revenues showed 13% year-over-year growth and 16% growth, excluding KUVAN.
• BioMarin is on track to meet its 2023 goals of double-digit revenue growth and considerable operating leverage with Q2 total revenues of $595 million, including $113 million in Voxzogo revenues.

• This is a special, one-time report on Thorne HealthTech which presents itself as a captivating short-term investment prospect, particularly in light of the recent reports of its speculated sale.
• Despite Thorne’s stock price exhibiting volatility and relatively stagnant appreciation over the past year, its potential sale could act as a catalyst for change.
• In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Immix has announced that the FDA has granted orphan drug designation (ODD) to CAR-T asset NXC-201 for multiple myeloma (MM). The benefits of ODD include seven years of US market exclusivity post approval, tax credits for qualified clinical trials and exemption from the Prescription Drug User Fee. ODD is issued to drugs/biologics intended for the safe and effective treatment, diagnosis or prevention of rare diseases/conditions that affect fewer than 200k people in the US. With NXC-201, Immix aims to differentiate against currently approved CAR-T therapies that are often associated with neurotoxicity and high-grade cytokine release syndrome (CRS). NXC-201 data appears to provide a competitive safety profile with no serious adverse events reported to date, positioning it as potentially the first outpatient CAR-T therapy. We believe the ODD marks a key milestone and believe that the next readout (expected in September 2023) from the ongoing NEXICART-1 trial could be an important catalyst for the company.

• MetLife delivered mixed results for the previous quarter, with revenues above analyst expectations but below-par earnings.
• MetLife reported adjusted earnings of $1.5 billion or $1.94 per share, showcasing underlying momentum in its core businesses.
• MetLife’s prudent investment portfolio management and risk management were evident in the well-controlled underwriting results and effective expense management.

• Rockwell Automation’s results were a major disappointment as the company failed to meet the revenue expectations as well as the earnings expectations of Wall Street.
• This quarter, the company saw a double-digit increase in both sales and earnings as component shortages eased.
• In this report, we have carried out a fundamental analysis of the historical financial statements of the company.