In today’s briefing:
- Intel Foundry Chief Unveils His Strategy
- Dollar General Corporation: Activist Interest Looms After Recent Drop! – Major Drivers
- Downgrading Industrials to Market Weight; Major Supports Holding; Buys in Uranium and Refiners
- MongoDB Inc.: Targeting The Public Sector With MongoDB Atlas! – Major Drivers
- The Cooper Companies: The Powerful Future of Fertility Business and How They’re Leading! – Major Drivers
- Chewy Inc.: Delving Into The Major Drivers Taking The Company Forward! – Financial Forecasts
- Workday Inc.: 4 Major Factors Driving Their Growth! – Financial Forecasts
- Dell Technologies Inc.: Can The Moogsoft Acquisition Help Enhance Dell’s AIOps Capabilities? – Major Drivers
- Hormel Foods Corporation: Unveiling the Powerhouses Behind Their Volume Boost! – Major Drivers
- Lululemon Athletica Inc.: Tapping into International Markets – A Game-Changing Move? Major Drivers
Intel Foundry Chief Unveils His Strategy
- It’s a “show me the money” versus a “build it and they will come” approach
- New fab construction will be based solely on customer commitments.
- It’s a curiously cautious plan and highly unlikely to succeed
Dollar General Corporation: Activist Interest Looms After Recent Drop! – Major Drivers
- Dollar General Corporation’s results were a major disappointment as the company failed to meet Wall Street’s revenue and earnings expectations.
- Due to higher average borrowing amounts and interest rates, interest expense climbed to $84 million in Q2 from $43 million in Q2 of last year.
- Dollar General has experienced a significant drop in its stock value this year, sparking speculation about potential activist investors eyeing the company.
Downgrading Industrials to Market Weight; Major Supports Holding; Buys in Uranium and Refiners
- We still believe it’s possible we’ve seen the lows for this pause/pullback on the SPX, and we see low probability of meaningful correction if SPX is above 4300-4325 (1.5-year support).
- As initially discussed in our 8/29/23 Compass, we wouldn’t be surprised to see another month+ (i.e., through the end of September, and possibly longer) of consolidation between 4325 and 4600.
- Downgrading Industrials (XLI) to market weight due to 1.5+ year RS uptrend violation. Buys highlighted in Uranium and Energy (refiners and coal).
MongoDB Inc.: Targeting The Public Sector With MongoDB Atlas! – Major Drivers
- MongoDB managed to surpass the revenue expectations as well as the earnings expectations of Wall Street.
- The company exceeded the high end of its projection and achieved revenue of $424 million, a 40% year-over-year increase.
- Atlas sales increased 38% year over year, accounting for 63% of revenue, and is now a product with a run rate of more than $1 billion.
The Cooper Companies: The Powerful Future of Fertility Business and How They’re Leading! – Major Drivers
- The Cooper Companies delivered a positive result and managed an all-around beat in the last quarter.
- The company surpassed revenue estimates, generating significant quarterly revenues of $930 million, driven by strong sustained organic growth.
- CooperVision reported $630 million in revenue, up 13% organically, while CooperSurgical reported $300 million in revenue, up 9% organically.
Chewy Inc.: Delving Into The Major Drivers Taking The Company Forward! – Financial Forecasts
- Chewy delivered a solid result and managed an all-around beat in the last quarter, producing mid-teens growth that exceeded expectations as well as strong profitability.
- The number of active customers was almost steady sequentially, but the net sales per active customer, or NSPAC, rose by 15% to $530.
- Net sales growth was boosted by active customer participation, highlighting the steadily growing strength of the Chewy ecosystem.
Workday Inc.: 4 Major Factors Driving Their Growth! – Financial Forecasts
- Workday exceeded analyst expectations in terms of revenue and earnings, with a non-GAAP operating margin of 24%, subscription revenue growth of 19%, and a 24-month backlog increase of 23%.
- Early renewals exceeded Workday’s expectations in the quarter and increased the 24-month backlog by nearly 1.5 percentage points.
- Workday’s team anticipates increasing their forecast for subscription revenue for FY 2024 to a new range of $6.57 billion to $6.59 billion, representing an 18% yearly increase.
Dell Technologies Inc.: Can The Moogsoft Acquisition Help Enhance Dell’s AIOps Capabilities? – Major Drivers
- Dell Technologies delivered a positive result and managed an all-around beat in the last quarter.
- Government and small and medium-sized business demand also increased, and their transactional demand strengthened throughout the quarter.
- While the overall DFS portfolio quality remains good and credit losses are around historically low levels, DFS ending managed assets achieved $14.7 billion.
Hormel Foods Corporation: Unveiling the Powerhouses Behind Their Volume Boost! – Major Drivers
- Hormel Foods Corporation delivered a disappointing set of results as the company was unable to meet the revenue expectations as well as the earnings expectations of Wall Street.
- Additionally, Hormel Foods recently introduced an LTO for the fall season: apple cider donut-flavored cashews, which the team anticipates will increase category volume and attention.
- Hormel Foods noticed a recovery across the turkey portfolio in its Retail segment and increased volume in important categories.
Lululemon Athletica Inc.: Tapping into International Markets – A Game-Changing Move? Major Drivers
- Lululemon Athletica delivered an all-around beat in the previous quarter, exceeding the management’s projections for revenue and EPS.
- Comparable sales increased by 17% online and 9% in-store, and adjusted EPS rose by 22% over the same time last year.
- In July, Lululemon Athletica established its first site in Thailand, making it the 100th APAC facility overall.
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