Daily Brief United States: Gold, Bitcoin, Marriott Vacations World, Comscore Inc, Commvault Systems, Cogent Communications Holdings, Carriage Services, Armstrong World Industries, Diodes Inc, Axcelis Technologies and more

• Be Careful Precious Metals Bulls Another friendly reminder that positioning in copper remains super speculative bullish – aka, there is much room for speculators to reduce their bullish bets again.
• The same can be said for gold and copper, but not for crude oil.
• Once again, there seems to be less demand than people realize – especially from China.

• Last Wednesday, the U.S. Consumer Price Index (CPI) for May was released, showing soft inflation.
• However, during the U.S. Federal Reserve’s (FED) subsequent FOMC meeting on the same day, the Fed was more hawkish than expected, indicating only a 25 basis points interest rate cut this year.
• This led to declines across the crypto market.

• Marriott Vacations Worldwide recently reported its financials for the first quarter of 2024, showcasing a series of developments that positions the company with both opportunities and challenges as it navigates through the year.
• On the positive side, Marriott Vacations reported a robust occupancy rate of 90% during the first quarter, with a growth in contract sales by 3% (excluding Maui), supported by a 9% increase in first-time buyer tours.
• The opening of a new resort in Waikiki later this year has seen strong initial reservations, signaling potential revenue growth and enhanced customer engagement in upcoming quarters.

• Comscore underwent recapitalization in 2021, issuing $204M in convertible preferred stock
• Decline in equity capitalization led to removal from major market indexes, but recent improvements in fundamentals have created significant equity value
• Preferred holders may convert stock into common stock at a discount, and have the option to request a one-time special dividend valued at $45M, declining annually if specific borrowing conditions are met.

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.

• Commvault recently wrapped up an impressive Fiscal Year 2024, demonstrating robust financial health and strategic progress.
• Their fourth-quarter earnings highlighted a 10% increase in total revenue, reaching $223 million.
• This growth was significantly propelled by a 27% rise in subscription revenue, which now constitutes over half of the total revenue stream.

• Cogent Communications Holdings, a major player in the internet service and IP transit industry, delivered a mixed set of financial results for its first quarter of 2024.
• On the revenue front, the company posted a total of $266.2 million for the quarter, which reflected a decrease of $5.9 million from the previous quarter.
• This decline was primarily attributed to a $5.8 million sequential drop in revenue from the commercial services agreement with T-Mobile and a $1.2 million decrease in non-core revenues.

• Carriage Services is a leading provider of funeral and cemetery services in the US, with operations in funeral home and cemetery services
• Main revenue comes from funeral home operations, including burial services, cremation, and merchandise
• Company distinguishes between atneed and preneed services, with majority of contracts falling into preneed category and funds swept into trust for returns on capital, making it an attractive investment option.

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.

• Armstrong World Industries commenced 2024 with robust first-quarter results, demonstrating sustained growth momentum from the previous year.
• The report indicates a notable increase in key financial metrics, including a 5% rise in net sales and a significant 16% growth in adjusted EBITDA.
• Additionally, an impressive 23% increase in adjusted diluted earnings per share and a 46% surge in adjusted free cash flow highlights efficient financial management.

• Diodes Incorporated reported its financial results for the first quarter of fiscal 2024 with mixed outcomes during a challenging economic environment.
• The company experienced decreased revenue, reflecting slower-than expected recovery in consumer, computing, and communication segments, along with expected seasonal effects from the Chinese New Year holiday.
• Revenue for the quarter stood at $302 million, a significant reduction from the previous year.

• Axcelis Technologies has reported a strong start to 2024, surpassing expectations in its Q1 performance.
• The company’s revenue stood at $252.4 million with earnings per diluted share increasing to $1.57, reflecting a 10% increase year-over-year.
• More importantly, gross margins improved significantly by over 500 basis points primarily due to an advantageous product mix, although this was slightly offset by higher selling, research and development expenses, and taxes.