In today’s briefing:
- S&P500 Index Rebalance: Bitcoin Miner Is a SPCY Add
- ZEEKR IPO: Attractive ~$4.8B Midpoint Valuation Offers At Least 30% Upside
- Bristol-Myers Squibb Company: A Deep Dive Into The Progress Of Its Clinical Portfolio! – Major Drivers
- Caterpillar Inc.: A Deep Dive Into Its Key Areas Of Competitive Advantage & Recent Strategic Investments! – Major Drivers
- Comcast Corporation: A Story Of Superior Product Innovation & An Improving Market Position! – Major Drivers
- DexCom Inc.: Why Are We Bullish On This Med-Tech Player Despite The Highly Evident Challenges Ahead? – Major Drivers
- Gilead Sciences: Acquisition of CymaBay Therapeutics Enhancing Liver Disease Portfolio & 6 Major Drivers
- Edwards Lifesciences Corporation: Increased Investment in Field Resources and Patient Access Initiatives! – Major Drivers
- Honeywell International: Will Their Improved Performance In Energy and Sustainability Solutions (ESS) Expected To Propel Their Growth? – Major Drivers
- Carrier Global Corporation: Can It Increase Its Productivity & Show Resilience Against Rising Material Costs? – Major Drivers
S&P500 Index Rebalance: Bitcoin Miner Is a SPCY Add
- Following Exxon Mobil (XOM US)‘s acquisition of Pioneer Natural Resources (PXD), Vistra (VST US) will be added to the S&P 500 INDEX (SPX INDEX) at the close on 7 May.
- Marathon Digital Holdings (MARA US) is an add to the S&P SmallCap 600 Index and the stock could move higher till implementation.
- Marathon Digital Holdings (MARA US) stock has underperformed its close peers this year and the ratio of Marathon Digital Holdings stock price to Bitcoin (XBTUSD CURNCY) is near the lows.
ZEEKR IPO: Attractive ~$4.8B Midpoint Valuation Offers At Least 30% Upside
- Geely-Backed ZEEKR set terms for U.S. IPO: EV maker offers 17.5M American depositary shares (ADSs) at the price range of $18-$21, implying a market cap of ~$4.8B at the midpoint.
- Geely Auto, Mobileye and CATL have indicated a non-binding interest in subscribing for an aggregate of up to ~$349M worth of the ADSs being offered in this offering.
- I have a positive view of ZEEKR IPO as the offering will be priced significantly below last round valuation of ~$13B.
Bristol-Myers Squibb Company: A Deep Dive Into The Progress Of Its Clinical Portfolio! – Major Drivers
- It is clear from Bristol-Myers Squibb’s first quarter 2024 earnings that the company has had a strong start to the year, even as it navigates some challenges.
- The firm’s performance during this time showcased the strength and potential of its commercial portfolio and the progress it has made in advancing its pipeline.
- Key brands such as Eliquis, Opdualag, Reblozyl, Yervoy, and Breyanzi have demonstrated significant strength, contributing to the company’s overall performance.
Caterpillar Inc.: A Deep Dive Into Its Key Areas Of Competitive Advantage & Recent Strategic Investments! – Major Drivers
- Caterpillar’s earnings for the first quarter of 2024 highlighted a strong quarter with sales and revenues maintaining levels consistent with the last year, largely meeting the company’s expectations.
- A key aspect was the continuation of healthy demand for its products and services across major end markets.
- Thanks to its robust balance sheet and free cash flow, the company was able to allocate a remarkable $5.1 billion for share repurchases and dividends during the quarter.
Comcast Corporation: A Story Of Superior Product Innovation & An Improving Market Position! – Major Drivers
- Comcast Corporation reported Q1 earnings recently highlighted by a strategic execution where the company maintained dominance in a competitive and evolving market.
- The company’s resilient capital allocation strategy and strong balance sheet place it in a favorable position, allowing it to invest aggressively in its six diverse growth businesses- Residential Broadband, Wireless, Business Services, Theme Parks, Studios, and Streaming.
- These sectors made up more than 55% of the company’s total revenue in Q1, and this proportion is set to grow.
DexCom Inc.: Why Are We Bullish On This Med-Tech Player Despite The Highly Evident Challenges Ahead? – Major Drivers
- Dexcom, Inc., particularly known for its continuous glucose monitoring (CGM) technology, consistently showcased strong performance in the first quarter of 2024 with an organic revenue growth of 25% compared to the first quarter of 2023.
- This noteworthy surge is credited to the substantial demand for Dexcom CGM, seen as customers increasingly value its leading product performance and unique user experience.
- The shift towards Dexcom’s CGM technology has been significant, especially since the launch of G7 in the U.S., which enabled Dexcom to attract a broad range of new prescribers and improve its impact within primary care, resulting in growing demand from people with diabetes.
Gilead Sciences: Acquisition of CymaBay Therapeutics Enhancing Liver Disease Portfolio & 6 Major Drivers
- Gilead Sciences Inc. reported a solid first quarter of 2024.
- Total product sales, exclusive of Veklury, rose 6% year-over-year to $6.1 billion.
- Growth was driven primarily by demand across its HIV, oncology, and liver disease verticals.
Edwards Lifesciences Corporation: Increased Investment in Field Resources and Patient Access Initiatives! – Major Drivers
- Edwards Lifesciences Corporation recorded robust first quarter 2024 results, demonstrating growth on numerous fronts.
- The company’s total sales rose by 10% to $1.6 billion against the same period last year, leading Edwards to raise its 2024 sales guidance to the high end of 8% to 10%.
- This highlights the company’s successful strategic direction, underscored by its substantial investments across transcatheter platforms which are addressing patient needs associated with aortic, mitral, and tricuspid diseases.
Honeywell International: Will Their Improved Performance In Energy and Sustainability Solutions (ESS) Expected To Propel Their Growth? – Major Drivers
- Honeywell International Inc.’s first-quarter 2024 earnings reveals consistent growth in the company, exceeding its adjusted earning per share guidance and organic sales targets.
- Despite the dynamic macroeconomic environment, the robust execution of Honeywell’s Accelerator operating system and the company’s diversified technology portfolio has led to significant performance gains.
- With recovery in key areas of Honeywell’s short-cycle portfolio and sustained growth in its long-cycle Aerospace and energy businesses, the company demonstrates a positive momentum in its financial results.
Carrier Global Corporation: Can It Increase Its Productivity & Show Resilience Against Rising Material Costs? – Major Drivers
- Carrier Global Corporation’s Q1 2024 results showed a robust start to the year with adjusted EPS growth of 19% on low-single-digit organic sales growth and 280 basis points of adjusted margin expansion.
- With the addition of 12,000 new members from Viessmann Climate Solutions, the company is poised for another year of significant margin expansion and solid growth.
- Its lean journey and sustained productivity have contributed greatly to these results.
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