In today’s briefing:
- Bullish Breadth Divergences Persist; Russell 2000 Testing 1.5-Year Support; Buys in Education Svcs
- Alphabet Inc: Cloud Innovations – A Glimpse into the Future of Tech! – Major Drivers
- Cheniere Energy Inc.: Initiation of Coverage – Business Strategy
- AT&T Inc: The Convergence Of 5G & Fiber Is The Future! – Major Drivers
- Avantor Inc.: Initiation of Coverage – Business Strategy
- Baker Hughes Co: Initiation of Coverage – Business Strategy
- American Express Company: Launch Of American Express Business Blueprint & Other Developments
- The Coca-Cola Company: From North America to Asia – Dominating Every Sip! – Major Drivers
- Copart Inc.: Initiation of Coverage – Business Strategy
- Align Technology Inc: Initiation of Coverage – Business Strategy
Bullish Breadth Divergences Persist; Russell 2000 Testing 1.5-Year Support; Buys in Education Svcs
- The SPX is at 4165-4200 support, and the Nasdaq 100 (QQQ) is at $350-$355 support. No “decisive” breakdowns quite yet as supports show signs of holding.
- Russell 2000 (IWM) is testing 1.5-year support at $162-$163, making this a logical spot for small-caps to bounce and an attractive risk/reward for buyers
- Continue to see signs of breadth possibly bottoming-out. Both the SPX and Russell 2000 and the % of stocks above their 50-day and 20-day MAs display bullish breadth divergences.
Alphabet Inc: Cloud Innovations – A Glimpse into the Future of Tech! – Major Drivers
- Alphabet Inc. delivered a solid result and managed an all-around beat in the quarter, with significant growth in its Search and YouTube segments, as well as momentum in Cloud services.
- The goal is to provide more diverse information and multiple perspectives in search results while incorporating ads.
- The company enables developers and organizations to build transformative products and services, mainly through Google Cloud, which witnessed continued growth, showcasing innovations in infrastructure, data, AI, workspace collaboration, and cybersecurity solutions.
Cheniere Energy Inc.: Initiation of Coverage – Business Strategy
- This is our first report on energy infrastructure major, Cheniere Energy Inc.
- The company performed decently in the previous quarter as global inventory levels reached historic highs.
- The U.S.’s mild climate and increased production kept Henry Hub prices below $3 during the quarter, encouraging coal-to-gas switching and boosting power sector demand.
AT&T Inc: The Convergence Of 5G & Fiber Is The Future! – Major Drivers
- AT&T Inc. delivered a positive result and managed an all-around beat in the last quarter, prioritizing investments in 5G and fiber technologies to expand their customer base while ensuring profitability.
- In the wireless sector, its consistent go-to-market strategy continues to attract high-value subscribers, exemplifying the resonance of its customer-centric approach.
- Besides these positive results, the company launched AT&T Internet Air to deliver uninterrupted and dependable internet connectivity to small company proprietors.
Avantor Inc.: Initiation of Coverage – Business Strategy
- This is our first report on Avantor, Inc, a well-known provider of mission-critical products to the healthcare industry as well as other domains.
- The company delivered a disappointing set of results as the company was unable to meet the revenue and earnings expectations of Wall Street.
- Market trends weakened sequentially, particularly in biopharma, where larger pharmaceutical customers moderated their spending, and small biotech companies faced ongoing funding constraints.
Baker Hughes Co: Initiation of Coverage – Business Strategy
- This is our first report on energy equipments and services provider, Baker Hughes.
- Despite global economic uncertainty and fluctuating commodity prices, Baker Hughes remains optimistic about the outlook for the year, emphasizing a durable upstream spending cycle driven by international and offshore markets.
- Baker Hughes continues to optimize its corporate structure with a cost-reduction strategy and a focus on achieving higher margins and returns.
American Express Company: Launch Of American Express Business Blueprint & Other Developments
- American Express Company delivered a solid result and managed an all-around beat in the last quarter, continuing the impressive trajectory of its financial performance.
- The company reported its 7th consecutive quarter of tangible results, with significant revenues reaching $15.4 billion, showcasing a 13% year-over-year increase.
- The company further introduced product improvements and analytics advancements to its digital cash flow management hub, American Express Business Blueprint.
The Coca-Cola Company: From North America to Asia – Dominating Every Sip! – Major Drivers
- The Coca-Cola Company managed to surpass the revenue and earnings expectations of Wall Street.
- The company had strong organic revenue growth, improved operating margins, and earnings per share growth.
- With 11% organic revenue growth driven by higher volume, pricing actions, and carryover pricing, Coca-Cola maintained its industry’s vibrancy.
Copart Inc.: Initiation of Coverage – Business Strategy
- This is our first report on Copart Inc, a well-known online auctions and vehicle remarketing services provider.
- With global revenue increasing by nearly 13%, including a favorable currency impact, the company demonstrated its ability to drive solid financial results.
- With solid profits and cost efficiency, Copart is set to weather market changes and maintain global service excellence.
Align Technology Inc: Initiation of Coverage – Business Strategy
- This is our first report on health-tech player, Align Technology Inc. exceeded analyst expectations in terms of revenue as well as earnings.
- Notably, 195,000 teens and kids commenced Invisalign clear aligner treatment in Q2, marking a 7% sequential increase and a significant 10% year-over-year growth.
- Total Clear Aligner revenues for Q2 amounted to $832.7 million, reflecting a 5.4% sequential and 4.3% year-over-year increase.
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