Daily Brief United States: Tesla , Servicenow Inc, Crude Oil, At&T Inc, Enphase Energy, Chipotle Mexican Grill, Waste Management, Immix Biopharma Inc, Gold and more

• Tesla’s stock dropped 12% post Q2 earnings, due to a 7% decrease in auto revenue, reflecting broader financial struggles despite a 15% rise in quarterly EV deliveries.
• Trump’s potential repeal of EV subsidies could reduce EV sales by 27% by 2030, but Tesla’s lower reliance on imports may mitigate the effect of increased tariffs.
• Elon Musk’s $5 billion investment in his AI startup xAI raises concerns about potential distractions from Tesla, even as he leverages political shifts to benefit Tesla.

• Earnings Miss: Tesla’s Q2 revenue increased by 2% to $25.5 billion, but earnings per share were 52 cents, missing the forecast of 62 cents.
• Record Revenue in Energy: Tesla achieved record revenues and profits in its energy sector, with 130% QoQ growth in energy storage deployments and regulatory credit revenues.
• Stock Reaction & Competition: Tesla’s stock dropped over 8% after-hours, influenced by increased competition, production challenges, and a notable decline in auto revenue by 7% to $19.9 billion.

• ServiceNow’s second quarter of 2024 financial results indicate strong operational and financial momentum, with notable increases in important metrics despite a backdrop of an internal investigation and leadership changes.
• The management presented a robust narrative of growth, leveraging its GenAI strategy, which contributed significantly to their overall performance.
• The company reported a 23% year-over-year growth in subscription revenue at constant currency, surpassing their own guidance.

• US oil and gas rig count increased by three to 589 for the week ending 26/Jul, rising for the second consecutive week.
• US oil rig count rose by 5 to 482, marking the first increase since May. Gas rigs fell by 2 to 101, following a rise of 3 the previous week.
• In July, the total US rig count increased by 8, the first monthly rise since February and the largest since November 2022.

• AT&T offers a range of telecommunications services, including wireless, fiber, and broadband
• The company’s market position, technological advancements, and capital return potential make it a strong investment opportunity
• Despite being undervalued, AT&T has a significant presence in Latin America and expects steady EBITDA growth

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Enphase Energy reported solid financial outcomes for the second quarter of 2024, driven by robust demand for its products and effective inventory management.
• The company achieved a revenue of $303.5 million, reflecting shipments of approximately 1.4 million microinverters and 120 megawatt-hours of batteries.
• This performance was supported by an overall end market demand valued at around $396 million for the quarter.

• Chipotle Mexican Grill Inc. reported its financial results for the second quarter of fiscal 2024, presenting a robust performance underscored by significant sales growth and strategic corporate initiatives.
• The company highlighted an 18% increase in sales, reaching nearly $3 billion, driven largely by an 11.1% comparable sales growth.
• This impressive sales figure was further bolstered by a 24% growth in in-store sales.

• WM presented its financial outcomes for the second quarter of 2024, underscoring a period of significant operational strength and strategic alignment towards its long-term growth objectives.
• WM reported a historical high with a 30% operating EBITDA margin, driven by efficiencies from technological investments and a robust pricing strategy.
• The company’s commitment to leveraging its expertise across various platforms was evident, particularly with its planned acquisition of Stericycle, which is expected to complement and expand its service offerings in the medical waste industry.

Immix Biopharma has received a grant of US$8m from the California Institute for Regenerative Medicine (CIRM) to advance clinical development of its lead CAR-T asset, NXC-201, in relapsed/refractory amyloid light chain amyloidosis (r/r ALA). We believe that this backing from the government agency not only bolsters the company’s capital position (cash runway estimated to extend to Q425), but also provides external endorsement of its efforts towards developing the first outpatient CAR-T treatment while addressing the unmet medical need in ALA. We remind readers that Immix recently dosed the first patient in the US as part of the Phase Ib NEXICART-2 trial, which plans to complete enrollment (expected n=40) by end-2025. If the data are supportive, we expect the company to follow it up with a Biologics License Application (BLA) submission to the FDA.

• Commodity Popcorn Markets During the week, I saw a tweet by the legendary commodities trader Peter Brandt.
• The technical part of Kucrop Analytics institutional commodity research arm is heavily influenced by Peter Brands Research, as well as Larry Williams Research.

• Both look at markets very different and have a strong track record.