In today’s briefing:
- Shift in Rate Dynamics
- Oddity Tech IPO Valuation Analysis: Growth and Profitability, Solid Upside With Limited Risk
- Moderna (MRNA US): Second Product Submission Is Not Big Enough Needle-Mover
- Celsius Liquidations Could Pressure Altcoin Markets
- The Kraft Heinz Company: Winning the Market with Their Easy Meals and Taste Elevation! – Key Drivers
- The Interpublic Group of Companies: Overcoming Challenges in Integrated Advertising & Creativity Led Solutions! – Key Drivers
- Jabil Inc.: Harnessing AI to Transform the Industry – Key Drivers
- Juniper Networks Inc.: 5 Reasons Why Their Business Is Growing – Key Drivers
- KLA Corporation: The Growth Engines You Didn’t Know About! – Key Drivers
- AEye, Inc. – New Management Focusing on Automotive First
Shift in Rate Dynamics
- US 10 year cleared the 4.90% resistance threshold as the market reprices Fed policy. This yield pop will have lasting effects.
- 3.85% is the key support with to supply rally energy.
- Short term target comes in at 4.20% and MT resistance at 4.70% (but not in a strait line). A staircase move is expected.
Oddity Tech IPO Valuation Analysis: Growth and Profitability, Solid Upside With Limited Risk
- Oddity Tech, the owner of popular and fastest-growing global brands IL MAKIAGE and SpoiledChild, set terms for an upcoming IPO. The company offers ~10.5M Class A shares.
- Selling shareholders (private equity firm L. Catterton and Oran Holtzman, Co-founder & CEO) offer ~8.77M Class A shares, while Oddity Tech offers ~1.75M Class A shares.
- The net proceeds from the sale of Class A shares will be ~$41M. Oddity Tech will not receive any proceeds from the sale of shares by the selling shareholders.
Moderna (MRNA US): Second Product Submission Is Not Big Enough Needle-Mover
- Moderna Inc (MRNA US) has submitted marketing authorization applications for the investigational RSV vaccine, mRNA-1345, in Europe and Australia and initiated submission process in the U.S.
- Moderna anticipates to launch RSV vaccine in 2024 in US. Each year in US, approximately 60,000–120,000 older adults are hospitalized, and 6,000–10,000 of them die due to RSV infection.
- This year, FDA has already approved two RSV vaccines, Arexvy from GSK and Abrysvo from Pfizer, which are scheduled to be launched in the U.S. by this fall.
Celsius Liquidations Could Pressure Altcoin Markets
- Last week, bankrupt crypto lender Celsius gained court approval to convert its altcoin holdings into more liquid BTC and ETH as part of its restructuring plan.
- The company has reportedly moved some of its holdings to market maker Wintermute and stablecoin issuer Paxos.
- As of end-March, Celsius held more than $2B in BTC, ETH and stETH and a mixed bag of liquid and illiquid altcoins, including $240mn of its own CEL token.
The Kraft Heinz Company: Winning the Market with Their Easy Meals and Taste Elevation! – Key Drivers
- Kraft Heinz delivered a positive result and managed an all-around beat in the last quarter.
- In the quarter, the company introduced It Has to be HEINZ, a new worldwide campaign that represents the brand’s first unification under a single creative approach.
- We give The Kraft Heinz Company a ‘Hold’ rating with a revised target price.
The Interpublic Group of Companies: Overcoming Challenges in Integrated Advertising & Creativity Led Solutions! – Key Drivers
- Interpublic Group of Companies managed to exceed analyst expectations in terms of revenue as well as earnings.
- The company’s organic revenue before billable expenses was down 20 basis points compared to last year’s extremely high first-quarter organic increase of 11.5%.
- We give the Interpublic Group of Companies a ‘Hold’ rating with a revised target price.
Jabil Inc.: Harnessing AI to Transform the Industry – Key Drivers
- Jabil delivered a strong result and managed an all-around beat in the last quarter.
- The company’s growth was driven by improved profitability in electric vehicles, healthcare, renewable energy infrastructure, and cloud sectors.
- The healthcare sector also presents opportunities for Jabil, with increasing interest from OEMs seeking outsourcing manufacturing solutions.
Juniper Networks Inc.: 5 Reasons Why Their Business Is Growing – Key Drivers
- Juniper managed to exceed analyst expectations in terms of revenue as well as earnings.
- The enterprise business exhibited significant momentum, with double-digit revenue growth in key segments.
- Additionally, Juniper experienced strong growth in its Mistified segment, propelled by Mist AI.
KLA Corporation: The Growth Engines You Didn’t Know About! – Key Drivers
- KLA managed to exceed analyst expectations in terms of revenue as well as earnings.
- The company’s revenue exceeded the guidance range and represented 6% year-over-year growth.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
AEye, Inc. – New Management Focusing on Automotive First
AEye is the global leader in adaptive, high- performance LiDAR solutions.
Its software-driven LiDAR platform (4SightTM Intelligent Sensing Platform [4Sight]) and its partnering and licensing business model are key to AEye’s differentiation and significant multi- market revenue runway.
Near term, there are 6+ automotive OEM nominations with six to 10 million LiDAR units providing more than $5 billion in gross revenue opportunity.
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