In today’s briefing:
- NTGR: Routing Thru Investor Day
- The Commodity Report #80
- Too Big to Fail?
- Sporting Crypto – Dec 5th: The Casino and The Factory
- Baxter International Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- Baxter International Inc.: Initiation of Coverage – Recent FDA Approvals & Other Drivers
- Bearish Sentiment Hits Binance’s BNB Token
NTGR: Routing Thru Investor Day
- NTGR held its annual investor day reflecting on the challenges it has incurred within retail and highlighting how consumer demand has remained strong for high-end devices and its 5G hotspot
- NTGR’s stock has been trading at levels valuing the Company near its working capital on fears the business would continue to generate losses
- NTGR’s transition in becoming a super-premium brand started over a year ago, but only in recent quarters has it began to take a bigger role on the consumer
The Commodity Report #80
- US manufacturing contracted in November for the first time since May 2020 as output weakened in the face of a third-straight month of shrinking orders.
- According to data released Thursday, the ISM’s gauge of factory activity slid to 49 from 50.2 in the prior month.
- The measure has fallen in five of the last six months and stands below 50, the threshold separating expansion and contraction, for the first time since the pandemic lockdowns.
Too Big to Fail?
- Investment Banks and Advisory firms have thrived over the past two years as the rapid pace of dealmaking induced by the post-pandemic era led to significant profits.
- New York City-based Perella Weinberg Partners took advantage of the free-flowing capital market conditions by closing some of the biggest M&A deals over the last decade and choosing to list on public markets through a SPAC.
- With all the talk of an economic slowdown going into 2023, Investment Banks are cautious heading into next year, focusing on preserving cash and switching to ancillary advisory services rather than staying on the hunt for big deals.
Sporting Crypto – Dec 5th: The Casino and The Factory
- Instead of going on a long rant about why this next iteration of NFTs is important more broadly – let’s contextualise this for the sports industry.
- After all, this is a newsletter called Sporting Crypto.
- The sports industry has seen some pretty amazing things when it comes to Web3.
Baxter International Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- Baxter International is a giant within the space of dialysis therapies and other healthcare products.
- The company’s recent financial results have been decent despite the fact that sales were impacted by specific supply chain-related issues.
- The overall demand for products across the Baxter and traditional Hillrom portfolios continues to be strong.
Baxter International Inc.: Initiation of Coverage – Recent FDA Approvals & Other Drivers
- This is our first report on Baxter International, one of the largest players in the domain of dialysis therapies and other healthcare products.
- The overall demand for products across the Baxter and traditional Hillrom portfolios continues to be strong.
- We initiate coverage on the stock of Baxter International with a ‘Buy’ rating.
Bearish Sentiment Hits Binance’s BNB Token
- Price Movements: The tokens for the decentralized derivatives exchanges dYdX and GMX have surged since the collapse of FTX.
- Market Liquidity: Dollar trading volumes for BTC markets dropped to two year lows relative to Tether.
- Derivatives: BNB funding rates dip to their most negative this year.
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