In today’s briefing:
- Why the FTX Collapse Is a Big Deal
- Booking Holdings: Major Drivers
- Caterpillar Inc: EV Prototype Launches & Other Drivers
- Clorox Inc: New Eco-Friendly Product Launches & Other Drivers
- CVS Health Corp: Acquisition of Signify Health & Other Drivers
- Fiserv Inc: The Vert Launch & Other Drivers
- Gilead Sciences: Acquisition of MiroBio & Other Drivers
- L3Harris Corp: Acquisition of Viasat’s Tactical Data Links Business & Other Drivers
- Honeywell International: Improved Air Quality Monitoring Solutions & Other Drivers
- Intel Corp: New Launches & Other Drivers
Why the FTX Collapse Is a Big Deal
- FTX is one of the largest crypto exchanges in the world in terms of market capitalization – at one point it was second only to Binance. It is one of the biggest collapses the crypto ecosystem has seen
- FTX has a suite of big-name investors – including Temasek, SoftBank, Sequoia Capital, and BlackRock – that have poured US$1.8 billion into the exchange.
- FTX was the white knight that prevented its fellow crypto firms from dying. It was a savior who helped to stabilize the market.
Booking Holdings: Major Drivers
- Booking Holdings delivered a positive set of results in the quarter and managed an all-around beat.
- Their consumers reserved 240 million room nights in Q3, just under 0.25 million more than in Q3 2019.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
Caterpillar Inc: EV Prototype Launches & Other Drivers
- Caterpillar delivered another solid quarter with an all around beat and generated strong ME&T free cash flow and a higher operating profit margin.
- To expand its offerings in the construction industry, Caterpillar is launching four prototypes of electric vehicles that are powered by lithium-ion batteries.
- We provide the stock of Caterpillar with a ‘Hold’ rating and a revision in the target price.
Clorox Inc: New Eco-Friendly Product Launches & Other Drivers
- Despite the continuing difficult and unstable global operating environment, Clorox managed an all-around beat in the last quarterly results.
- The fact remains that Clorox is already facing a number of macro challenges and future quarters may not be showing such a positive performance.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
CVS Health Corp: Acquisition of Signify Health & Other Drivers
- CVS Health delivered another strong quarter.
- The company increased sales by 10% compared to the last year, reaching over $81 billion and surpassed Wall Street expectations in terms of revenues as well as earnings.
- The Health Care Benefits segment also had a good quarter.
Fiserv Inc: The Vert Launch & Other Drivers
- Fiserv had a decent quarter on the revenue front and delivered a double-digit growth as it continues to demonstrate the strength of its client base.
- Merchants took advantage of the more value-added business, continued to deliver better experiences, and opened up new businesses.
- Also, Fiserv was awarded another quarter with California State Comptroller for the cards that support different disbursement needs.
Gilead Sciences: Acquisition of MiroBio & Other Drivers
- Gilead Sciences delivered a good result with an all-around beat as its total product sales continued to grow sequentially.
- The majority of the growth was driven by sales coming from oncology and HIV.
- Gilead Sciences continues to strengthen its early-stage portfolio, thus adding a BTLA agonist for the inflammation of MicroBio, also an option for the bispecific antibody for MacroGenics for oncology.
L3Harris Corp: Acquisition of Viasat’s Tactical Data Links Business & Other Drivers
- L3Harris delivered a highly disappointing set of results for the previous quarter as it failed to meet Wall Street expectations in terms of revenues as well as earnings.
- The reduced margins and revenue have been responsible for the guidance decline in free cash flow and EPS.
- L3Harris performed well in the non-traditional prime business with a record quarter of more than $5 billion in funded orders.
Honeywell International: Improved Air Quality Monitoring Solutions & Other Drivers
- Honeywell delivered a mixed set of results while going through a tough operating environment.
- Honeywell delivered organic sales growth and strong double-digit growth in its building products businesses, commercial aerospace, and advanced materials.
- In the quarter, earnings and cash flows was a bright spot as Honeywall managed an earnings beat.
Intel Corp: New Launches & Other Drivers
- Intel continues to face growing economic headwinds and delivered no growth in its revenues on a sequential basis.
- The service share of the company is tracking in line with its expectations, and against its product roadmap.
- The company launched its 13th Generation Intel Core processor family, which is led by the 13th Generation Intel Core i9-13900L.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
