Daily Brief United States: Hollysys Automation Technologies, Lumen Technologies, Pegasystems Inc, Las Vegas Sands, Regeneron Pharmaceuticals, Sherwin Williams Co, SolarEdge Technologies , Winmark Corp, Laboratory Corporation of America Holdings, Homestreet Inc and more

• On the 8th February 2024, 85% of Hollysys Automation (HOLI US) shareholders present and via proxy, voted for Ascendent Capital’s Offer. After three-plus years, the end was finally in sight.
• Then crickets. The merger was to complete in the 1Q. On the 15th April, HOLI released an accountant resignation notice. No word on dissenters or regulatory approvals. Shares sold off. 
• The accountant resignation is a nothing burger. HOLI should lift their game and provide more transparency on the outstanding merger conditions. Still, the spread is attractive. This is a buy. 

• Lumen Technologies’ Fourth Quarter 2023 Earnings revealed significant progress in the company’s business transformation.
• Led by the efforts of the new executive team under CEO Kathleen Johnson, Lumen indicated that it had met its 2023 EBITDA and free cash flow guidance and had made material progress in its strategic priorities.
• To strengthen its balance sheet, Lumen entered into an agreement with a majority of its creditors that extends most debt maturities to 2029.

• Pegasystems Inc. has noted robust cash flow growth and value delivered to its clients in Q4 of 2023.
• The company has adopted a new go-to-market strategy that has been received well by the team, leading to strong customer relationships.
• The company has focused on AI utilization to introduce industry-changing technologies, which has resulted in increased growth and cash flow.

• Las Vegas Sands Corp.
• reported that Macao delivered $654 million of EBITDA for the quarter, a significant enhancement since the coronavirus pandemic’s end.
• According to them, robust growth in both gaming and non-gaming revenues is anticipated, propelled by their substantial share in non rolling table win, rolling table win, and slot ETG win.

• Regeneron Pharmaceuticals Inc.’s latest earnings highlighted several critical developments and financial performance data that shape its investment appeal.
• Among the company’s accomplishments in 2023 were the FDA approval and successful launch of its EYLEA HD, a promising treatment for patients with wet age-related macular degeneration and diabetic eye diseases, which had strong start despite initial delays.
• Additionally, the company won a notable legal battle to preserve its intellectual property related to EYLEA, which deterred infringements from a biosimilar manufacturer, potentially deterring future biosimilar launches.

• Sherwin-Williams Company, a global leader in the paint and coatings industry, reported a promising review of their fourth quarter 2023 results and outlook for the first quarter and full year of 2024.
• The company has experienced positive growth, with sales growing 4.1% to $23.1 billion and adjusted earnings per share growing 18.6% to $10.35 a share.
• Sherwin-Williams demonstrated robust financial performance during the fourth quarter that has resulted in a record year for the company.

• SolarEdge deemed its Q4 2023 and full-year results as clouded by adverse market dynamics and high inventory levels.
• For Q4, SolarEdge reported revenues of about $316 million, split between $282 million in their solar business and $33 million in non-solar activities.
• The company shipped 2.2 million power optimizers and 74,000 inverters during the quarter, along with 133-megawatt hours of batteries.

• Winmark operates five resale brands through a franchising model, including Plato’s Closet and Play It Again Sports
• The company’s focus is on providing access to quality used products at value pricing, contributing to the circular economy
• CEO Brett Heface discusses the dynamics of managing the brands, growth strategies, and the company’s mission to provide resale for everyone

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

• Laboratory Corporation of America Holdings’ Q4 2023 highlighted a robust performance, driven by strong base business revenue growth.
• Discussing Q4 results, revenues reached $3 billion, adjusted earnings per share was $3.30, and free cash flow from operations, excluding spin-related items, was $422 million.
• Enterprise revenue grew by 4% compared to Q4 2022, led by an 8% growth in the Diagnostics business and 7% growth in the Biopharma business.

• HomeStreet Inc. focuses on MultiFamily lending in western states and recently surged in stock value due to a merger agreement with FirstSun Capital Bancorp
• Shareholders of HomeStreet will receive shares of FSUN under the deal, expected to close in the middle of 2024
• The author recommends building a position in FSUN, believing it is undervalued and has potential growth over the next 3 years

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.