In today’s briefing:
- Quiddity Leaderboard MV Jr Gold Miners Sep 24: Mergers Mean Possible Up-And-Out DELETEs
- Floor & Decor Holdings Inc.: A Bear’s Perspective! – Major Drivers
- [Earnings Review] Occidental Beats Q2 Estimates with Boosted Output and Stronger Realisations
- Squarespace Inc.: A Bear’s Perspective! – Major Drivers
- TLN: More EBITDA More Value
- No Pain, No Gain
- Ionis Pharmaceuticals: These Are The Key Advancements in Angelman Syndrome and Broad Neurology Portfolio! – Major Drivers
- Starbucks Gambles on New CEO: Will Niccol Turn the Tide or Spill the Beans?
- Bentley Systems Inc – Why Howard Hughes Holdings is Pershing Square’s Prime Target!
- Asbury Automotive Group: What Is Their Expansion Strategy Focused on Diverse Revenue Streams? – Major Drivers
Quiddity Leaderboard MV Jr Gold Miners Sep 24: Mergers Mean Possible Up-And-Out DELETEs
- The MV J-Gold Miners index represents the performance small-cap gold and silver mining companies listed around the world.
- This index is reviewed semi-annually in March and September. During these reviews, names can be added or deleted from the index.
- In this insight, we take a look at the latest lists of potential ADDs and DELs for the index rebal event in September 2024.
Floor & Decor Holdings Inc.: A Bear’s Perspective! – Major Drivers
- Floor & Decor Holdings, Inc. navigated the fiscal second quarter of 2024 with outcomes that reflected the broader economic challenges impacting the retail and real estate sectors.
- In the quarter under review, the company reported a dip in both total sales and comparable store sales which fell slightly short of expectations.
- This mirrored the continuing pressures from taut monetary policies adversely affecting housing market activities and discretionary spending on major projects.
[Earnings Review] Occidental Beats Q2 Estimates with Boosted Output and Stronger Realisations
- Occidental’s Q2 revenue grew 1.7% YoY but missed estimates by 1.7%. Net profit surged by 34.9% YoY and beat estimates by 32.5%.
- Total production rose by 3.3% YoY led by robust growth in the Permian and Gulf of Mexico. Production touched its highest in four years.
- Average crude oil realisations rose 8.6% YoY, and natural gas increased by 11.3%, while domestic gas realisations fell sharply by 60.3% YoY.
Squarespace Inc.: A Bear’s Perspective! – Major Drivers
- Squarespace’s First Quarter 2024 Earnings revealed a strong performance, with revenue up by 19% and bookings increasing by 23%, surpassing the provided guidance on both metrics.
- The unlevered free cash flow margin stood at 32%, contributing to a positive outlook for the fiscal year 2024 in terms of both revenue and free cash flow.
- Throughout the quarter, growth was primarily fueled by consistent organic momentum in the company’s core business, particularly in website services which experienced robust retention and an uptick in new customer growth both domestically and internationally.
TLN: More EBITDA More Value
- TLN benefited from warmer weather in the second quarter with its power plants running without any issues. The increase in electricity demand resulted in TLN reporting adjusted EBITDA higher estimates.
- TLN’s management suggesting there could be more data center deals in the future was the biggest takeaway from the earnings call.
- Considering the added benefit of the auction results for 2025-26, we believe there is ample reason to expect TLN’s stock to trade above our price target of $145.
No Pain, No Gain
- Survive the purge, seize the opportunity: Last week’s extreme market volatility presents exceptional forward-looking opportunities for those who remain resilient.
- Liquidation waves: A path to equilibrium: Learn how major market disturbances like last week’s can create ripples that take time to settle, offering strategic consolidation points.
- Unlocks and ETF flows: What’s next for crypto? Discover how upcoming token unlocks and recent ETF trends may shape the near-term outlook for key crypto assets.
Ionis Pharmaceuticals: These Are The Key Advancements in Angelman Syndrome and Broad Neurology Portfolio! – Major Drivers
- Ionis Pharmaceuticals Inc., a leader in RNA-targeted therapeutics, recently held its second quarter 2024 earnings call outlining several achievements and perspectives on ongoing projects and upcoming product launches.
- Ionis has made significant progress with a clear strategic focus on its pipeline, recent approvals, and foundational growth in its research and commercial domains.
- Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.
Starbucks Gambles on New CEO: Will Niccol Turn the Tide or Spill the Beans?
- Starbucks, the global coffee giant, has taken a bold step by appointing Brian Niccol, the former CEO of Chipotle, as its new leader.
- This move follows the sudden departure of Laxman Narasimhan, whose tenure saw a significant drop in Starbucks’ share value, raising questions about the company’s future direction.
- Niccol, credited with turning around Chipotle after its foodborne illness crisis, brings a reputation for innovation and effective leadership.
Bentley Systems Inc – Why Howard Hughes Holdings is Pershing Square’s Prime Target!
- Howard Hughes Holdings, a real estate company with a diversified portfolio of master-planned communities, operating assets, and strategic developments, has recently garnered attention due to the possibility of being taken private by Pershing Square, an investment firm led by Bill Ackman.
- Pershing Square, the largest shareholder of Howard Hughes with a 38% stake, is reportedly considering this move to unlock greater value from the company.
- On the one hand, Howard Hughes has shown strong performance across its core business segments, delivering impressive results in land sales, operating assets, and condo developments.
Asbury Automotive Group: What Is Their Expansion Strategy Focused on Diverse Revenue Streams? – Major Drivers
- The Asbury Automotive Group has reported mixed results for the second quarter of 2024, which reflect both a resilient operational performance and significant challenges due to a system outage.
- A detailed analysis highlights both the strengths and areas of concern for the company during this period.
- Asbury faced a major operational disruption beginning on June 19, due to an outage with their dealer management system (DMS) provided by CDK.
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