In today’s briefing:
- NVIDIA: Global Funds Hit New Highs
- US Mutual Funds: Is Ford Motor Company Uninvestible?
- Steel Dynamics Inc: 4 Surprising Reasons For Their Growth – Financial Forecasts
- PI: Frequency Scrambled
- Equifax Inc: 4 Key Takeaways From The Recent Performance – Financial Forecasts
- Texas Instruments: The Investments Shaping their Competitive Advantage! – Key Drivers
- United Airlines Holdings Inc: 4 Factors That Are Driving Growth – Financial Forecasts
- SAP SE ADR: Carbon Footprint Management Offering & Other Developments
- Alcoa Corp: New Carbon Capture Technology & Other Developments
- Verizon Communications Inc.: Can myPlan Be A Game Changer? – Key Drivers
NVIDIA: Global Funds Hit New Highs
- Global Fund exposure in NVIDIA Corp (NVDA US) has moved to record levels after a doubling of the share price this year.
- New positions from UniNachhaltig Global, JP Morgan Global Focus and BNY Mellon Global Equity (3.36%) were among a total of 14 funds who opened exposure to NVIDIA Corp in 2023.
- Growth and Aggressive Growth funds are at maximum levels of ownership, whilst Value managers are showing some hesitancy here.
US Mutual Funds: Is Ford Motor Company Uninvestible?
- US Mutual Fund exposure in Ford Motor Company hits all-time lows with just 11 out of 295 funds holding a position.
- Ford Motor Company is now the 6th most widely held Auto stock after Tesla, General Motors, Rivian Automotive, Harley Davidson and Oshkosh Corp.
- Ford tops the list of unloved companies in the US, with the vast majority of active managers expecting Ford to underperform.
Steel Dynamics Inc: 4 Surprising Reasons For Their Growth – Financial Forecasts
- Steel Dynamics had a disappointing second quarter with revenues below Wall Street expectations though they did manage to report improved net income and EBITDA.
- The management noted increased pricing and metal spread across flat-rolled and long-product steel operations.
- Steel Dynamics’ net income stood at $812 million, operating income at $1.1 billion, and EBITDA at $1.2 billion.
PI: Frequency Scrambled
- Impinj warned revenue would decline sequentially in the third quarter due to weaker than expected demand from retail apparel customers. The shortfall started towards the end of the second quarter
- Impinj increased inventory in the first quarter and more so in the second quarter. Inventory within the channel has also increased compared to the first quarter
- Impinj’s stock continues to price the downward revenue scenario as a short-term event. Previous downturns have lasted more than one quarter
Equifax Inc: 4 Key Takeaways From The Recent Performance – Financial Forecasts
- Equifax delivered a mixed result in the recent quarter, with revenues below market expectations but managed to surpass the analyst consensus regarding earnings.
- Last quarter, the company faced a challenge, particularly in the mortgage and hiring markets.
- While the U.S. mortgage market weakened, they delivered adjusted EPS and EBITDA margins above guidance.
Texas Instruments: The Investments Shaping their Competitive Advantage! – Key Drivers
- Texas Instruments delivered a positive result and managed an all-around beat last quarter.
- The decline in gross profit from the prior year was principally brought on by reduced revenue, higher capital expenses, and the shifting of LFAB-related costs to the cost of revenue.
- For the third quarter, Texas Instruments’ team anticipated the sale to be in the $4.36 billion to $4.74 billion range, with $1.68 to $1.92 earnings per share.
United Airlines Holdings Inc: 4 Factors That Are Driving Growth – Financial Forecasts
- United Airlines delivered an all-around beat in the most recent quarterly result.
- The strategic initiatives, including aggressive pilot hiring, fleet expansion, and route optimization, have paid off and put United on a path toward delivering impressive earnings per share.
- We give United Airlines Holdings a ‘Buy’ rating with a revised target price.
SAP SE ADR: Carbon Footprint Management Offering & Other Developments
- SAP delivered a mixed set of results in its most recent result with revenues above Wall Street expectations but below-par earnings.
- RISE with SAP and GROW with SAP have been well-received offerings, driving significant cross and upsell opportunities across their portfolio.
- SAP’s approach with SAP Business AI is unmatched in the industry, delivering relevant, reliable, and responsible AI solutions to customers, with plans to introduce new premium RISE offerings and an uplift of up to 30% in the fall.
Alcoa Corp: New Carbon Capture Technology & Other Developments
- Alcoa delivered a solid result and managed an all-around beat in the last quarter.
- The company had a mixed last quarter and reported slightly higher revenue and increased shipments but experienced challenges due to market conditions.
- Despite lower alumina and aluminum prices, they improved net loss due to the nonrecurrence of specific charges.
Verizon Communications Inc.: Can myPlan Be A Game Changer? – Key Drivers
- Verizon Communications delivered mixed results for the previous quarter, with revenues below the analyst consensus.
- Revenue from wireless services increased and their consumer wireless strategy, which combines segmentation with budgetary restraint, is seeing positive results.
- By enticing consumers to purchase premium plans, which increases ARPA, myPlan has already assisted the Verizon Consumer Group in achieving noticeable operational gains.
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