In today’s briefing:
- NDX Short to Bleed into Asia
- Waste Management Company: Key Drivers
- Bio-Techne Corporation: Expansion RNAscope & Other Drivers
- monday.com Stock Is Receiving Serious Traction After Its Q4 Earnings Beat
- Viavi Solutions: Major Drivers
- ACCO: Valentine’s Grinch, Downgrading
- Meta Platforms Inc.: Key Drivers
- Qorvo Inc: Key Drivers, Financial Forecasts, DCF & Comparables Valuation, ESG & Other Risks (02/23)
- Skechers Inc.: Key Drivers, Financial Forecasts, DCF & Comparables Valuation, Key Risks (02/23)
- Peloton Inc.: Major Drivers
NDX Short to Bleed into Asia
- NDX continues to hug lower range support after meeting the 13k short level. 12,050 is the level to break to ratchet lower to 11,800. Ultimately, new lows attract.
- Use an uptick to add to this short and linked assets. USD strength, higher yields will weigh on tech going forward.
- A rotational shift is due that favors a more defensive stance.
Waste Management Company: Key Drivers
- Waste Management delivered a highly disappointing result in the last quarter and did not live up to analyst expectations with respect to revenues as well as earnings.
- They observed a slowdown in the rate of labor increases and remained committed to managing operating costs and bending costs to match shifting volumes.
- The company advanced its planned recycling investments and provided more details in the supplemental presentation on its website.
Bio-Techne Corporation: Expansion RNAscope & Other Drivers
- Bio-Techne delivered a disappointing result in the last quarter while failing to meet Wall Street expectations in terms of revenues as well as earnings.
- The company also noticed the strongest effects of decreasing biotech spending in Q2 in North America.
- The multiyear growth rates in North America remain in double digits and are consistent with its long-term objectives.
monday.com Stock Is Receiving Serious Traction After Its Q4 Earnings Beat
- Monday.com Ltd.’s Q4 earnings report could be the catalyst investors have been waiting for.
- The company’s sustained hyper-growth trajectory is assisted by the successful integration of CRM tools and a synergetic marketplace.
- monday.com Ltd. (NASDAQ:MNDY) released its Q4 earnings report on Monday morning. The company’s quarterly results beat analysts’ estimates comprehensively, which caused MNDY stock to surge.
Viavi Solutions: Major Drivers
- Viavi’s result for the second quarter of 2023 performed better than Wall Street expectations as the company delivered an all-around beat, driven by NSE performance aided by stabilization in service provider demand and spending.
- The company’s OSP business increased year over year and performed within the forecast.
- NSE decreased sequentially and year over year due to weaker fiber and wireless lab product demand.
ACCO: Valentine’s Grinch, Downgrading
- Downgrading to Neutral from Buy. Target is now $6 from $9.
- ACCO faces greater challenges than could be currently priced in the stock with a longer duration of retailers rebalancing inventory against a weak consumer spending environment
- We have grown concerned the softness ACCO experienced in the third quarter of 2022 could spill over into 2023
Meta Platforms Inc.: Key Drivers
- Meta Platforms performed a mixed result with earnings below expectations, ending a rather difficult fiscal year.
- The management claims that number of daily users of Facebook, Instagram, and WhatsApp is at an all-time high.
- Facebook’s engagement is decent, and it is expanding globally, with over 2 billion daily and approximately 3 billion monthly active users.
Qorvo Inc: Key Drivers, Financial Forecasts, DCF & Comparables Valuation, ESG & Other Risks (02/23)
- Qorvo delivered a strong set of results and managed an all-around beat.
- Its power business in particular, reported a successful quarter with active design work for its silicon carbide power products.
- For WiFi products in their Connectivity and Sensors Group, the third quarter showed decreased end-market demand and channel inventory consumption.
Skechers Inc.: Key Drivers, Financial Forecasts, DCF & Comparables Valuation, Key Risks (02/23)
- Skechers had a solid result in the last quarter, reaching $7.4 billion in sales annually, an astounding rise of over $1.1 billion year over year, driven by worldwide expansion across all channels.
- Sales in the Americas increased 22% year over year in the fourth quarter to $925.6 million, driven by double-digit growth in every channel.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
Peloton Inc.: Major Drivers
- Peloton delivered a mixed performance in the quarter as its revenues were well above Wall Street expectations but the company’s losses were wider than expected.
- Peloton’s reserves, related to the stock from their Tonic production facilities, decreased their Connected Fitness gross margin by around $32 million for the quarter.
- FaaS has doubled and expanded quickly in the quarter though it does face significant competitive threats from players like Tonal.
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