Daily Brief United States: Intel Corp, Starbucks Corp, Crude Oil, Build A Bear Workshop, Gold, Lands’ End Inc, Sky Quarry, 1stdibs.com , VAALCO Energy, Evolution Petroleum and more

• No stated reason for Mr. Gelsinger’s shock resignation as Intel’s CEO. 
• CFO and CCG leaders named as interim co-CEO’s with the latter also assuming a newly created role as CEO of Intel’s Products (CCG, DCAI & NEX)
• It’s the beginning of the end for Intel as we used to know it

• Starbucks’ CEO of China denied the rumor that Starbucks will sell its Chinese businesses.
• Chow Tai Fook closed 239 stores from March to September.
• SAIC and Volkswagen will extend their joint venture to 2040.

• The US oil and gas rig count fell by 1 to 582 for the week ending on 27/Nov, reporting a third consecutive weekly fall.
• For the week ending 22/Nov, US oil production rose to 13.49m bpd from 13.2m bpd the week prior. US output inched close to its all-time high of 13.5m bpd.
• The number of active US oil rigs fell by two to 477, the lowest since July. Conversely, the US gas rig count rose by one to 100.

• We are reiterating our Buy rating, $41 price target and projections for Build-A-Bear Workshop with the company announcing 3QFY24 (October) results before the open on Thursday.
• We believe, with a very strong Halloween season, the launch of commercial and franchised stores beginning to drive operating momentum, new products and a solid start to the Holiday season, management will be upbeat on current and future trends, and we believe Street expectations for 3Q and FY24 (and our price target) could prove conservative.
• As such, we are reiterating our Buy rating and $41 price target for BBW.

• Goldman Thinks Commodities Will Outperform in 2025 Gold will rally to a record next year on central-bank buying and US interest rate cuts, according to Goldman Sachs – putting out a price target of $3.000 USD till end of 2025.
• The bank sees a sideways market in crude as its base case.
• The bank sees a sideways market in crude as its base case. “In our baseline forecast, we continue to see oil prices as range-bound, with Brent likely to stay in a $70-$85/bbl range. I

• We are reiterating our Buy rating, $20 price target and projections for Lands’ End with the company announcing 3QFY24 (October) results before the open on Thursday.
• We believe, with a continued emphasis on reducing discounting, rolling out new products and features to create compelling product (and category) stories and expansion on the licensing and digital marketplace arenas, Lands’ End has continued to shift the overall story to driving higher returns and creating the ability to achieve higher overall revenue.
• Further, with a deepening international focus and material emerging opportunities in the Outfitters uniform and embroidery business, we believe Lands’ End continues to rapidly improve their overall business model, and we reiterate our Buy rating and $20 price target for LE.

• Zacks Small-Cap Research Note for Sky Quarry Inc (SKYQ)

• Information provided is for informational purposes only, not investment advice
• Author may hold long positions in mentioned securities, subject to change
• Author is a trader, not obligated to inform readers of transactions, seek expert advice before making investment decisions

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.

• Vaalco’s asset portfolio combines a mix of long- and short- cycle growth opportunities in every country in which it operates.
• Management sequences the capital investment cycles to ensure the company commits capital to projects that have been sufficiently derisked to avoid overcommitting and with an eye to shortening the time from investment to production.
• Its budgeting process is anchored by the goal of supporting a sustainable dividend

• Evolution’s framework is focused on marrying acquisitions of long-lived shallow decline producing assets complemented by organic growth opportunities to grow the underlying business and support its dividend.
• The company’s 45th consecutive quarterly dividend is scheduled to be paid on December 31, 2024, in the amount of $0.12/share. The current yield is 8.2%.
• Ongoing development in the Chaveroo oilfield in the Permian Basin is expected to contribute incremental oil volumes in Evolution’s fiscal fourth quarter (June).