In today’s briefing:
- First Solar Inc: A Strong Start To 2023 – Key Drivers
- Bristol-Myers Squibb.: Pipeline Progress & Cancer Breakthroughs – Key Drivers
- Colgate-Palmolive Co: Improved Focus On Pet Nutrition & Whitening – Key Drivers
- FactSet Research Systems Inc.: Collaboration On Continuus Technologies & Other Developments
- LianBio (LIAN US): 2023 Is Going to Be Data Heavy; Current Cash Runway Raises Commercialization Hope
- Paychex Inc.: Strong Margin Expansion & Other Drivers
- BioMarin Pharmaceutical Inc.: A Story Of Two Possible Game Changers & Generics Competition – Key Drivers
- 4Q22 Results Slightly Better than Expected; Business Transformation Continues in 2023
First Solar Inc: A Strong Start To 2023 – Key Drivers
- First Solar entered 2023 with an improved financial, operational, and commercial position with increased R&D, new international and domestic capacity coming online as well as a new Series 7 product.
- The company commenced initial production at its next-generation Series 7 factory in Ohio will continue to ramp this year.
- Furthering its manufacturing program, First Solar recently announced an innovative 3.5-gigawatt Series 7 factory in Alabama and also a 0.9-gigawatt rise to nameplate capacity at its Ohio factories.
Bristol-Myers Squibb.: Pipeline Progress & Cancer Breakthroughs – Key Drivers
- Bristol-Myers Squibb reported another strong quarter which happened to be an all-around beat.
- The sales of Global Opdivo reflect robust demand for its newly launched and also a core indication of double-digit growth.
- Moreover, Bristol-Myers launched all nine new medicines, which include three first-in-class products.
Colgate-Palmolive Co: Improved Focus On Pet Nutrition & Whitening – Key Drivers
- Colgate entered 2023 on a positive note with decent top-line momentum and delivered an all-around beat in the last result.
- The company saw good growth in organic sales in four categories which include double-digit growth in organic sales in Pet Nutrition.
- Colgate, is launching the Optic White Pro Series and its new MPS whitening technology all over the world.
FactSet Research Systems Inc.: Collaboration On Continuus Technologies & Other Developments
- FactSet Research Systems delivered a mixed set of results for the last quarter.
- The company’s organic ASV plus professional services growth increased by 9.1% year over year, driven by solid client growth and its sales team’s effective implementation of its pricing increase in the Americas.
- We give FactSet Research Systems a ‘Hold’ rating with a revised target price.
LianBio (LIAN US): 2023 Is Going to Be Data Heavy; Current Cash Runway Raises Commercialization Hope
- LianBio (LIAN US) is expected to report pivotal data from late-stage trials of its drug candidates as well as file for marketing approval for mavacamten in China in 2023.
- Lead candidate mavacamten has potential blockbuster opportunity in China. LianBio has entered into commercialization agreement with Pfizer for sisunatovir in Mainland China, Hong Kong, Macau, and Singapore.
- With current cash position sufficient to fund operations through the end of 2024, LianBio is well positioned to become a commercial-stage company.
Paychex Inc.: Strong Margin Expansion & Other Drivers
- Paychex produced strong financial results, with third-quarter total revenue growth of 8% and adjusted diluted earnings per share growth of 12%.
- It managed to deliver an all-around beat Revenue for Management Solutions climbed 7% to $1 billion because of new product attachments and auxiliary HR services.
- The continued high demand for their ERTC service accounted for about 1% of the quarter’s revenue growth.
BioMarin Pharmaceutical Inc.: A Story Of Two Possible Game Changers & Generics Competition – Key Drivers
- BioMarin gave a mixed performance in the quarter and failed to meet the revenue expectations of Wall Street despite delivering a double-digit top-line growth.
- Its total revenues for the quarter showed an increase despite the continued erosion of the KUVAN market in the US.
- Moreover, lower KUVAN product revenues are mostly because of generic competition due to the loss of market individuality in the US.
4Q22 Results Slightly Better than Expected; Business Transformation Continues in 2023
- XWELL reported 2022 results that were slightly better than preliminary results issued on March 30.
- Revenues for the quarter were $7.5 million, with $4.5 million coming from the spa business (XpresSpa and Treat), $2.6 million from the CDC program and the one remaining XpresCheck location, and $.5 million from HyperPointe.
- While 1Q is usually a slower quarter for the travel industry, we expect the company to continue to focus on improving the profitability of its spa business primarily through the closure of a few stores that don’t contribute to profitability.
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