In today’s briefing:
- Nitro Software: KKR’s $2.00/Share Firm Offer
- The Commodity Report #77
- Marriott International: Acquiring The City Express Brand Portfolio & Other Developments
- PayPal Inc: The PayPal Zettle Terminal & Other Recent Drivers
- Starbucks Inc: Divestment Of Seattle’s Best Coffee & Other Developments
- ConocoPhillips: Partnership With Qatar Energy & Other Developments
- Monster Beverages: Major Drivers
- McDonald’s Corporation: Major Drivers
- Microchip Inc: Major Drivers
- Amgen Inc: Major Drivers
Nitro Software: KKR’s $2.00/Share Firm Offer
- Adobe rival Nitro Software Ltd (NTO AU) has announced KKR (via Alludo) has firmed its $2.00/share Offer, by way of a Scheme, in tandem with an off-market takeover.
- Both the Scheme and takeover are subject to FIRB and MACs/prescribed occurrences. The takeover is subject to a 50.1% acceptance hurdle. The proposals have the unanimous support of Nitro’s board.
- The Transaction Booklet is expected to be despatched to shareholders in early February 2023, with a Scheme Meeting expected to be held in March 2023.
The Commodity Report #77
- Fundamentally speaking, it was nearly a perfect week for commodities as much major news aligned during the week after China eased some Covid restrictions, raising hopes of a demand recovery in the world’s second-biggest economy.
- Almost all major commodities traded higher following China’s move to reduce the time that travelers and close contacts of infected people must spend in quarantine, a significant amendment to the Covid Zero policy.
- China’s loosening of restrictions strengthened a rally that began on Wall Street, with risk assets rising after US inflation slowed.
Marriott International: Acquiring The City Express Brand Portfolio & Other Developments
- Marriott delivered a mixed set of results for the third quarter.
- The leisure demand for the quarter remained strong and far above 2019 levels.
- Travelers are apparently continuing to mix pleasure and work visits, according to third quarter day-of-the-week trends.
PayPal Inc: The PayPal Zettle Terminal & Other Recent Drivers
- PayPal’s financial performance was impressive and the company managed to deliver an all-around beat.
- This will make it simple for PayPal’s merchant community to utilize their iPhone as a mobile point of sale without using a dongle or other payment terminals.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
Starbucks Inc: Divestment Of Seattle’s Best Coffee & Other Developments
- Starbucks’ stock has been on a roll after a solid Q4 and fiscal 2022 which surpassed Wall Street expectations on all counts.
- With improving foot traffic, the company recently expanded its presence in the Italian market as well.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
ConocoPhillips: Partnership With Qatar Energy & Other Developments
- ConocoPhillips’ stock has continued its phenomenal bull run and continues to reach new highs as the company delivered a solid third quarter result surpassing Wall Street expectations in terms of revenues as well as earnings.
- This is especially true for U.S. shale, where the rate of production increase across the board is being constrained by quickly rising costs and an exceedingly constrained supply.
- The company is well-positioned to address these long-term supply challenges thanks to the depth and high quality of its unconventional U.S. inventory and broad global portfolio.
Monster Beverages: Major Drivers
- Monster delivered a mixed set of results with record third-quarter net sales of $1.62 billion which was below analyst expectations.
- Their cost of sales increased significantly during Q3 of 2022 compared to the third quarter of 2021, primarily because of higher costs for ingredients and other inputs, such as secondary packaging materials and co-packing fees, higher logistical costs, higher aluminum can cost, and mix of geographic and product sales.
- Monster’s strength remains its wide distribution versus smaller peers that helped the company create a strong demand for its energy drinks even in lull periods.
McDonald’s Corporation: Major Drivers
- McDonald’s delivered a solid Q3 performance surpassing Wall Street expectations on all counts which is why its stock price has been surging over the past few weeks.
- The company’s sustained resiliency is demonstrated by its quarterly global comp sales, which increased by 9.5%.
- In the quarter, the chicken was a significant contributor to comp sales growth across all of their key markets, and they will continue to concentrate on expanding their worldwide market share in this significant category.
Microchip Inc: Major Drivers
- Microchip’s quarterly result was solid and it managed to surpass Wall Street expectations in terms of revenues as well as earnings.
- The company’s positive performance was driven by strong execution of the management and resilient end markets.
- Market demand increased sequentially at roughly the same rate as their sell-in-recognition-based GAAP net sales.
Amgen Inc: Major Drivers
- Despite the challenges in the macroeconomic environment and the pharmaceutical business, Amgen’s stock has been on a strong upward trajectory over the past weeks.
- The development of Tavneos is the first new therapy for ANCA-associated vasculitis in more than ten years.
- They also developed an industry-leading biosimilar business and will soon be the first company to introduce a biosimilar to Humira in the United States.
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