In today’s briefing:
- Safe | May 27, 2023
- Interactive Strength Inc. – Investment Thesis
- Make or break time for Gold // Goldman Sachs has no feeling for timing oil trades
- ETH Liquidity Shows Positive Trend
- Colgate-Palmolive Company: New Cost Management Initiatives & Other Drivers
- Amazon.com Inc.: International Expansion & Innovation As A Key Growth Driver – Financial Forecasts
- Lear Corporation: The I.G. Bauerhin Acquisition Upside & Other Drivers
- LyondellBasell Industries: Why Is The Company’s Stock a ‘Hold’ Despite Beating Earnings?
Safe | May 27, 2023
- The Web3 era, characterised by a decentralised internet and blockchain technology, presents opportunities and challenges in equal measure.
- Prominent among these challenges are security and usability issues, which demand a high degree of attention and innovativeness.
- Safe, formerly known as Gnosis Safe, a programmable smart contract account, stands at the forefront of this innovation, offering a multitude of benefits that greatly enhance the user experience overall.
Interactive Strength Inc. – Investment Thesis
- This is our first report on Forme and we look to provide a detailed account of the various drivers that will be responsible for the company’s growth in the coming years.
- Its top-line revenue has increased from a low starting point, while operating losses, operating cash flows, and EBITDA loss have all decreased.
- This is unlike many large incumbents like Peloton who have struggled with a high cash burn for many years.
Make or break time for Gold // Goldman Sachs has no feeling for timing oil trades
- While the Flash Manufacturing PMI came in lower than expected at 48,5 (50,0 expected), the Flash Service PMI came in once again higher than expected at 55,1 (52,6 expected)
- Prometheus Research shared this overview with us that highlights that the Service sector continues to hold this economy up.
- The majority of service businesses continue to stay in the growing territory – this needs to change before we actually see a recession in the service sector as well. Keep in mind that the Manufacturing sector in the US accounts for “only” 11% of GDP!
ETH Liquidity Shows Positive Trend
- Since the collapse of FTX last year, there has been little good news on the liquidity front for crypto assets.
- The shutdown of the Signet and SEN fiat settlement networks in the US severely impacted market makers operational efficiency.
- This can be seen in 2% market depth for ETH, which dipped in March and has failed to recover to pre-FTX levels.
Colgate-Palmolive Company: New Cost Management Initiatives & Other Drivers
- Colgate-Palmolive had a good start to 2023, and delivered an all-around beat in the first quarter.
- There was a boost in the company’s projections for net and organic sales growth as well as base business earnings per share growth for the year.
- Colgate-Palmolive is facing headwinds with respect to its earnings per share growth given the impact of raw and packaging materials costs, foreign exchange, and below-the-line costs.
Amazon.com Inc.: International Expansion & Innovation As A Key Growth Driver – Financial Forecasts
- Amazon.com delivered strong results in the first quarter, with global net sales of $127.4 billion, an increase of 11% when adjusted for the approximately 210 basis points unfavorable impact of changes in foreign exchange rates.
- Moderate discretionary expenditure was observed in the quarter, with a shift towards more affordable goods and strong demand for daily necessities like consumables and cosmetics.
- The company’s revenue from stores and unit sales increased year over year in Q1 at a faster rate than its fulfillment costs and outbound shipping costs.
Lear Corporation: The I.G. Bauerhin Acquisition Upside & Other Drivers
- Lear had a solid start to the year, with an all-around beat in the recent quarterly result.
- The management intends to start making full seats with essential thermal components for these vehicles.
- Besides, the company acquired IGB, which will be essential to growing its Thermal Comfort Systems business and boosting its market share and profits in the seating industry.
LyondellBasell Industries: Why Is The Company’s Stock a ‘Hold’ Despite Beating Earnings?
- LyondellBasell delivered a mixed set of results in the last quarter with revenues below analyst expectations but managed an earnings beat.
- At the end of the first quarter, LyondellBasell had $1.8 billion in cash on hand.
- With the successful start-up of their world-scale PO/TBA facility, capital expenditures associated with plant construction will be substituted with increased cash generation.
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