Daily Brief United States: Micron Technology, Bitcoin, Oracle Corp, Charter Communications , Brunswick Corp, US Treasury (10 Yr Generic), Harley Davidson, BRP Group , Boyd Gaming, International Game Technology Ordinary Shares and more

• I wrote about this in my recent post about HBM, and it seems almost everything I talked about became true. HBM is going to bail out the memory markets meaningfully.
• Let’s talk about earnings, but I was hoping you could keep this post in mind while I discuss Micron.

• These are the kinds of beats we start to see when the cycle turns. Now, the stocks have begun to anticipate this, but given the pricing dynamics of HBM, I feel very confident in Micron’s ability to hit a new cycle high in profitability.

• We are witnessing an unexpected showdown in the crypto world.
• On one side stands Larry Fink, co-founder and CEO of BlackRock, the world’s largest asset manager.
• On the opposite side is Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC).

• Oracle Corporation had a strong performance in its third-quarter fiscal year 2024, with revenue in-line with expectations and EPS $0.02 above the high-end guidance.
• However, both potential future performance and inherent risks were noted, which investors should closely observe.
• A significant part of the discussion was centered on Oracle Cloud Infrastructure (OCI), tagged as the primary driver for the company’s overall revenue acceleration.

• Charter Communications is contending with a narrowing competitive advantage in the cable industry due to the entrance of new rivals like fiber overbuilders and fixed wireless providers.
• The company must make ongoing capital investments to stay competitive, despite uncertain returns on these investments.
• Charter’s aggressive capital allocation approach, motivated by management incentives, is raising doubts about the company’s investment potential and future outlook.

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.

• This is our first report on recreation products manufacturer, Brunswick Corporation.
• Despite market headwinds, the company reports another successful year, claiming to have accomplished the second highest sales and adjusted earnings per share in its existence.
• In particular, Brunswick stresses the progress of its strategic initiatives, continued market share increases, cost control, the launch of new products, and an enhancement in operational efficiency.

• Our bullish outlook initiated on November 7, 2023 remains intact; this intermediate-to-long-term outlook is likely to stay in place as long as 4800 support holds on the SPX (7-10% downside).
• To be clear, we aren’t calling for a pullback to 4800; we view it as a worst-case scenario for the S&P 500, and we want to be prepared for anything.
• Shorter-Term, we remain bullish on the S&P 500 and Nasdaq 100 (QQQ) as they both refuse to close below their 20-day MAs for more than 2-3 consecutive days.

• This is our first report on motorcycle giant, Harley-Davidson.
• The company has demonstrated progress in key aspects of its strategic plan, the Hardwire strategy, despite challenges due to high-interest-rate environment and consumer confidence and affordability concerns impacting premium discretionary products.
• The company’s focus on its profitable categories, innovation, and enhancing the customer experience has enhanced its business and contributed to long-term value creation.

• This is our first report on powersport vehicles and marine products, BRP Inc. The company’s fiscal year 2024 third quarter results conference call highlighted mixed performances across its categories of operation.
• Revenue reached $2.5 billion, which fell short of expectations due to softer demand in international markets and a temporary slowdown at the Texas-Mexico border.
• Although these conditions negatively impacted deliveries of its off-road vehicles and ETVs over three weeks, normalcy has been restored.

• This is our first report on Boyd Gaming Corporation.
• The company’s fourth-quarter earnings call wrapped up another successful year for the company.
• Throughout 2023, they maintained strong performances and achieved record revenues and EBITDAR. This success is largely thanks to a diverse portfolio which includes strong growth from their online and managed businesses.

• This is our first report on gaming technology player, International Game Technology PLC (IGT).
• The company ended fiscal year 2023 with an impressive set of accomplishments, with their Q4 operating income growing 11% and significant free cash flow generation.
• This enabled them to meet their fiscal year 2023 financial goals which were raised twice during the year.