In today’s briefing:
- S&P 500 and Russell 2000 Testing 1-Year Uptrends; “Magnificent Seven” Supports to Watch
- Hewlett Packard Enterprise: Soaring Sales and the Genius Behind Intelligent Edge! – Major Drivers
- Memory Monitor: Micron Outperformed Through Earnings; Nanya Earnings Key for DRAM Bottoming View
- HP Inc.: The Collaborative Moves Making The Company A Market Leader! – Major Drivers
- Costco Wholesale Corp: Strategies for Consistent Membership Renewals! – Major Drivers
- FuelCell Energy Inc.: New Commercial Development Initiatives Explained! – Major Drivers
- IAC/InterActiveCorp: The Crucial Assets Driving Its Financial Growth! – Major Drivers
- Cue Health Up For Sale: Tarsadia Pushes for Desperate Sale Amid Stock Plummet!
- Hologic Inc.: Decoding the Reasons Behind the Double-Digit Molecular Growth! – Major Drivers
- Regeneron Pharmaceuticals Inc: Can The Acquisition Of Decibel Therapeutics Be A Game Changer? – Major Drivers
S&P 500 and Russell 2000 Testing 1-Year Uptrends; “Magnificent Seven” Supports to Watch
- As discussed in last week’s Compass (9/26/23), we continue to believe the odds of a deeper pullback to SPX 4165-4200/the 200-day MA have increased
- Our reasoning continues to be due to the major breakouts in the U.S. dollar (DXY) and Treasury yields (10- and 30-year), coupled with a handful of Sectors/indexes breaking below supports.
- We are also monitoring 1-year uptrends on the S&P 500 and Russell 2000 (IWM), currently at 4240 and $173. Flirting with breakdowns below these levels today. Buys in retail/energy shippers
Hewlett Packard Enterprise: Soaring Sales and the Genius Behind Intelligent Edge! – Major Drivers
- Hewlett Packard Enterprise Company delivered a positive result and managed an all-around beat last quarter.
- HPE produced significant free cash flow while increasing its revenue, gross margin, as well as earnings per share year over year.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
Memory Monitor: Micron Outperformed Through Earnings; Nanya Earnings Key for DRAM Bottoming View
- Micron has Outperperformed Nanya Tech & Hynix since our pre-earnings trade. Micron’s valuation has reverted vs. Nanya’s.
- Nanya Tech has recently reported a 15% YoY drop in its latest monthly revenue. Micron just had a US$1.3bn subsidy approved by the Japanese government.
- We are now agnostic on the upcoming relative performance between the three Memory names Micron, Nanya Tech, and SK Hynix. Nanya will report its results on October 11th.
HP Inc.: The Collaborative Moves Making The Company A Market Leader! – Major Drivers
- Despite a challenging market environment, HP increased net revenue, non-GAAP EPS, non-GAAP operating profit, and free cash flow quarter over quarter.
- With $13.2 billion in net revenue, the company’s annualized revenue was down 10% or 7% in constant currency.
- Despite not being immune to the end market concerns, these businesses combined produced strong sequential growth in the quarter.
Costco Wholesale Corp: Strategies for Consistent Membership Renewals! – Major Drivers
- Costco delivered an all-around beat in the most recent quarterly result.
- The company reported net income for the 17-week fourth quarter came in at $2.16 billion or $4.86 per diluted share compared to $1.868 billion or $4.20 per diluted share in the 16-week fourth quarter last year.
- In terms of sales, net sales for the 17-week fourth quarter were $77.43 billion, an increase of 9.4% from $70.76 billion in the 16-week fourth quarter last year.
FuelCell Energy Inc.: New Commercial Development Initiatives Explained! – Major Drivers
- FuelCell Energy, Inc. delivered a mixed result in the recent quarter, with revenues below market expectations, but it surpassed the analyst consensus regarding earnings.
- The company reported total revenues of $25.5 million for the quarter.
- The two latest module exchanges at the plant owned by Korea Southern Power Company and the module exchange at the plant at Trinity College were the main factors behind the increase in service agreement revenue for the third quarter of fiscal year 2023.
IAC/InterActiveCorp: The Crucial Assets Driving Its Financial Growth! – Major Drivers
- IAC/InterActiveCorp delivered a disappointing set of results as it could not meet the revenue and earnings expectations of Wall Street.
- The company experienced 1% growth in the digital space in June, driven largely by effective performance marketing, and it maintained sessions and traffic across the board for the entire month.
- IAC is pleased with the location of such assets in the migration and growth plans.
Cue Health Up For Sale: Tarsadia Pushes for Desperate Sale Amid Stock Plummet!
- This is a special one-time report on Cue Health, a company once lauded for its promise in the diagnostics sector.
- Amidst diminishing fortunes, the company is under the scrutiny of significant shareholder, Tarsadia Investments.
- This report aims to dissect the various valuation scenarios underpinning Cue Health, providing a lucid understanding of its investment potential amidst the unfolding drama.
Hologic Inc.: Decoding the Reasons Behind the Double-Digit Molecular Growth! – Major Drivers
- Hologic, Inc. exceeded analyst expectations in terms of revenue as well as earnings.
- Non-GAAP earnings per share were $0.93 and the total revenue was $984 million.
- In Mammography, Hologic delivered more gantries in Q3 than in Q1 and significantly fewer than in Q2.
Regeneron Pharmaceuticals Inc: Can The Acquisition Of Decibel Therapeutics Be A Game Changer? – Major Drivers
- Regeneron delivered an all-around beat in the previous quarter, demonstrating progress toward their long-term objective of business growth and revenue diversification.
- Total revenues saw an 11% increase compared to the previous year’s quarter, primarily driven by collaboration revenues with Sanofi and net product sales of Libtayo, which exhibited impressive growth of 39% and 49%, respectively.
- Notably, non-EYLEA revenue contributions accounted for 41% of total revenues, marking a significant proportion, the highest in the last decade, excluding contributions from COVID-19 antibodies.
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