In today’s briefing:
- Qualcomm. Watch This Space…
- NVIDIA Corporation: On Track To Become The World’s Largest Company With Enhanced AI Capabilities? – Major Drivers
- Zoom Video Communications: A Story Of Continued Growth in Enterprise Customer Base! – Major Drivers
- American International Group (AIG): What Has Been Their Path to Value Creation Post-Financial Crisis? – Major Drivers
- Modine Manufacturing Company: Will The Recovery in Heating
- GES: 1Q Review; Creating a Powerful Model; Reiterate Buy, $37 PT
- Keysight Technologies: Investments in Emerging Technologies and Expansion through Acquisitions! – Major Drivers
- Lowe’s Companies: Front-End Transformation and Investment in Technology! – Major Drivers
- MetLife Inc.: A Story Of Capital Deployment to Achieve Responsible Growth and Boost Shareholder Value! – Major Drivers
- N-able Inc. – Why Is This Communications Player Becoming An Acquisition Target & What Valuation Can It Extract? – Key Drivers
Qualcomm. Watch This Space…
- Automotive revenues for Q1CY24 amounted to $603 million, up 35% YoY. This compares to MobilEye’s revenue of $239 million, down 48% YoY
- Automotive design-win pipeline is now $45 billion, up from $30 billion less than two years ago
- CEO Amon said “Every time we enter a new market, we end up building a very strong position”. That’s a shot across the bows for Intel and AMD…
NVIDIA Corporation: On Track To Become The World’s Largest Company With Enhanced AI Capabilities? – Major Drivers
- NVIDIA Corporation is on track to become the largest company in the world, purely on the basis of its leadership in the artificial intelligence (AI) and graphics processing units (GPU).
- The company, reported its first quarter earnings of the fiscal year 2025.
- The company generated record revenue of $26 billion which is sequentially up by 18% and YoY up by 262%, significantly surpassing its estimated outlook of $24 billion.
Zoom Video Communications: A Story Of Continued Growth in Enterprise Customer Base! – Major Drivers
- Zoom reported total Q1 revenue of $1.141 billion, a 3% year-on-year increase.
- Enterprise revenue, which represented 58% of total revenue, grew 5% year-on-year.
- Gross margin was 79.3%, slightly lower than the 80.5% recorded in the same quarter last year due to investments in AI innovation.
American International Group (AIG): What Has Been Their Path to Value Creation Post-Financial Crisis? – Major Drivers
- American International Group Inc. (AIG) reported a solid performance for the first quarter of 2024, showing significant improvements.
- Peter Zaffino, the company’s Chairman and CEO, remarked on the steady growth witnessed this year, with the report indicating a 9% year-on-year increase in adjusted after-tax income, seeing it to $1.2 billion or $1.77 per diluted common share.
- Some key factors driving this growth include the expansion of AIG’s operations, particularly via its General Insurance underwriting segment, which experienced a 19% year-over-year increase, translating to underwriting income of $596 million in Q1 2024.
Modine Manufacturing Company: Will The Recovery in Heating
- Modine Manufacturing Company (Modine) reported upbeat performance for its fiscal 2024 with record sales and adjusted EBITDA being noted for the second consecutive year.
- Sales increased by 5% to reach $2.4 billion while adjusted EBITDA surged by 48% to $314 million; a significant margin improvement indicating the company’s effective commitment to its 80/20 principle.
- Modine successfully shifted its business to targeted markets with growth potential where its innovative solutions are well-regarded, leading to sustainable margins.
GES: 1Q Review; Creating a Powerful Model; Reiterate Buy, $37 PT
- We are reiterating our Buy rating and $37 price target for Guess?
- and tweaking and further back-end loading our FY25 and FY26 projections after Guess?
- announced 1QFY25 top and bottom line upside, driven by Europe and Domestic wholesale results, as the rag & bone acquisition proved to be a key positive and the company continues to take share in Europe.
Keysight Technologies: Investments in Emerging Technologies and Expansion through Acquisitions! – Major Drivers
- Keysight Technologies Inc.’s fiscal second-quarter earnings were decent and the company reported solid revenue of $1.2 billion, surpassing the high end of its guidance, with earnings per share of $1.41.
- Orders worth $1.2 billion were reported to have aligned with the results of the prior quarter.
- The company cited stability and growth in multiple end markets, despite constrained customer spending.
Lowe’s Companies: Front-End Transformation and Investment in Technology! – Major Drivers
- Lowe’s Companies reported its recent earnings and maintained the company’s expectations for fiscal 2024.
- Their first quarter sales were $21.4 billion, with comparable sales down 4.1% from the same period last year.
- Despite the continued pressure in DIY big ticket discretionary spending, the company delivered better-than-expected spring seasonal sales.
MetLife Inc.: A Story Of Capital Deployment to Achieve Responsible Growth and Boost Shareholder Value! – Major Drivers
- MetLife Inc. delivered solid financial results for the first quarter of 2024 with strong top-line growth, consistent execution, and sustained momentum.
- The company reported adjusted earnings of $1.3 billion or $1.83 per share, up 20% per share from the prior year period, reflecting a partial rebound in variable investment income led by private equity gains.
- Net income for the first quarter was $800 million, taking a sharp rise from $14 million from the prior year period.
N-able Inc. – Why Is This Communications Player Becoming An Acquisition Target & What Valuation Can It Extract? – Key Drivers
- This is a special one-time report on N-able as the company is receiving tremendous acquisition interest.
- The potential for N-able to be acquired is bolstered by several key factors.
- First, its strong financial performance and profitable growth model make it an attractive target.
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