In today’s briefing:
- Intel Has Big Problems Ahead
- The Mosaic Company: A Structural Transition Away from Exports in Phosphates – Key Drivers
- Chevron Corporation: Acquisition of PDC Energy As A Part Of Oil & Gas Industry Consolidation & Other Drivers
- DexCom Inc.: Launch of G6 Glucose Monitoring System & Other Drivers
- Domino’s Pizza Inc.: Store Additions Continue To Drive Growth – Key Drivers
- Eli Lilly and Company: Can Rezvoglar Destroy Sanofi’s Insulin Market Share? – Key Drivers
- Comcast Corporation: Subscriber Growth Slowdown & Growing Peacock Losses Are Concerning – Key Drivers
- Etsy Inc.: Can It Really Outperform The Major Indices? – Key Drivers
- L3Harris Technologies Inc.: Launch of Next-Generation NTS-3 Satellite & Other Developments
- Keurig Dr Pepper Inc.: Does The Long-Term Growth Potential of Single-Serve Pod Business Make It A Buy? – Key Drivers
Intel Has Big Problems Ahead
- The chip industry is seeing two “transitions” Intel is being phased out with the GPU shift, according to the company.
- The company is also expected to be phased out of the chip industry with the next generation of processors.
- The chip company is expected to have a new generation of chips in the coming years.
The Mosaic Company: A Structural Transition Away from Exports in Phosphates – Key Drivers
- The Mosaic Company had a mixed quarter with revenues of $3.6 billion that were above Wall Street expectations but the company missed out on earnings.
- While supply issues are still a worry, this is drawing growers back to the market.
- We give The Mosaic Company a ‘Buy’ rating with a revised target price.
Chevron Corporation: Acquisition of PDC Energy As A Part Of Oil & Gas Industry Consolidation & Other Drivers
- Chevron once again produced impressive financial results in the most recent quarter and delivered an all-around beat.
- Despite 20% lower oil prices, adjusted first-quarter earnings increased by more than $200 million over the previous year.
- Adjusted upstream earnings decreased due to realizations, while adjusted downstream earnings grew due to greater refining margins.
DexCom Inc.: Launch of G6 Glucose Monitoring System & Other Drivers
- DexCom had a strong quarter and managed an all-around beat with strong organic revenue growth of 19% compared to last year.
- The company’s momentum in global CGM adoption remains high, driven by the growing recognition of the unique experience DexCom provides.
- The launch of their G7 system has been met with enthusiasm, supported by a successful Super Bowl commercial that generated significant engagement and awareness.
Domino’s Pizza Inc.: Store Additions Continue To Drive Growth – Key Drivers
- Domino’s Pizza had a mixed quarter.
- The company’s revenues were below Wall Street expectations but its operating income margin increased by 100 basis points year-over-year resulting in an earnings beat.
- In the first quarter, Domino’s international company opened 143 new stores while closing 37 others, totaling 106 net new stores.
Eli Lilly and Company: Can Rezvoglar Destroy Sanofi’s Insulin Market Share? – Key Drivers
- Eli Lilly is off to a mixed start in 2023, with volume-driven revenue growth led by its incretin portfolio, Verzenio and Jardiance.
- The new product category delivered $574 million in sales, while the new product and growth product categories together contributed 20 percentage points to volume increase.
- We give Eli Lilly and Company a ‘Hold’ rating with a revised target price.
Comcast Corporation: Subscriber Growth Slowdown & Growing Peacock Losses Are Concerning – Key Drivers
- Comcast Corporation started off with 2023 on a mixed note.
- While its revenues and earnings were above Wall Street expectations, the total company revenue of $29.7 billion fell 4%.
- We give Comcast Corporation a ‘Hold’ rating with a revised target price.
Etsy Inc.: Can It Really Outperform The Major Indices? – Key Drivers
- Etsy reported another strong performance and kickstarted the year with an all-around beat.
- With a roughly 11% increase in revenue to $641 million, the company’s adjusted EBITDA margin was once again very high at 26.6%.
- Etsy also witnessed strong trends in apparel, particularly in personalized and pop culture-related tops, tees, hoodies, sweatshirts, bags, purses, and gift goods.
L3Harris Technologies Inc.: Launch of Next-Generation NTS-3 Satellite & Other Developments
- It was a successful first quarter for L3Harris as they delivered an all-around beat while building momentum in orders and backlog.
- The company saw top-line growth of 9% across all segments, along with improved operating income in two out of three segments.
- They also reaffirmed their 2023 guidance, with a potential bias towards the higher end of the revenue range due to strong revenue growth and significant orders.
Keurig Dr Pepper Inc.: Does The Long-Term Growth Potential of Single-Serve Pod Business Make It A Buy? – Key Drivers
- The last quarter proved to be a successful one for Keurig Dr Pepper.
- Their U.S. refreshment beverages segment performed exceptionally well, with share gains in multiple categories and significant market share growth for brands like Dr.
- Pepper.
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