Daily Brief United States: ZEEKR, Masimo Corp, Alpha Metallurgical Resources, Microstrategy Inc Cl A, Encompass Health , Ensign Group, Exelixis Inc, Extra Space Storage, Inspire Medical Systems Inc, Iti Inc and more

• ZEEKR (ZK US), a premium Chinese BEV manufacturer and a subsidiary of Geely Auto (175 HK), has restarted its IPO process to raise US$500 million by listing on the NYSE.
• We previously discussed the IPO in ZEEKR IPO: The Bull Case and ZEEKR IPO: The Bear Case. 
• The latest SEC filings reinforce the bear case due to weak industry sentiment, rapidly slowing growth, ongoing operating losses and volatile FCF. 

• Masimo Corporation had a mixed Q4 and fiscal year 2023 earnings call, reporting both positive results and some challenges.
• The company generated over $2 billion in consolidated revenues, with healthcare revenues reaching $1.28 billion.
• In addition, Masimo saw strong growth in its hearables business and reported a record number of contract wins.

• Alpha Metallurgical Resources, a supplier of metallurgical products for the steel industry, closed its fourth quarter with adjusted EBITDA of $266 million and achieved over $1 billion in adjusted EBITDA for the year.
• This is the second consecutive year in which the company attained such a milestone despite facing considerable challenges during the year.
• Alpha highlighted the robustness of its management approach which included proactive identification of issues and proactive response plans that ensured minimal impact on performance.

• Approval of bitcoin ETFs by the SEC causing volatility in MSTR shares and bitcoin prices
• Opportunity for a trade pairing short sale of MSTR shares with purchase of bitcoin ETF
• Fluctuating premium of MSTR’s enterprise value over SOTP value, expected to dissipate with approval of bitcoin ETFs

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.

• Encompass Health’s earnings for the fourth quarter of 2023 revealed yet another strong showing for the company, capping off a robust year of performance.
• On the positive side, a significant growth in both volume and revenue was reported for the year.
• The company recorded a 10.4% increase in revenue, driven by an 8.7% spike in total discharges, indicating its value proposition indeed resonates with referral sources, payers, and the patients it serves.

• The Ensign Group offers a variety of services, including skilled nursing, rehabilitative care services, home health care, hospice care, and physical, occupational and speech therapies, among others.
• In their most recent earnings presentation, the company reported impressive clinical and financial results backed by the commitment and efforts of its employees.
• Ensign reported a same-store occupancy of 79.9%, a 240 basis point increase over the last year, and also noticed improvements in their occupancy on a sequential basis of 40 basis points over the third quarter.

• Throughout 2023, Exelixis Inc, showed a strong overall performance with increased demand and revenue growth in its cabozantinib franchise, globally.
• As per their recent conference call, they revealed that the franchise’s net product revenues rose by 14% YoY in Q4 2023.
• The 2023 full-year revenue also grew by 16% YoY. Moreover, the global cabozantinib franchise net product revenues produced by Exelixis, and its partners reached approximately $2.3 billion in 2023.

• Author has a negative outlook on self-storage REITs, particularly EXR
• Valuations are high despite challenging outlook and higher interest rates
• Predicts industry’s long-term prospects are unfavorable due to institutionalization and increased competition

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.

• Inspire Medical Systems, a manufacturer of devices for treating obstructive sleep apnea, recently reported their fourth quarter and full year 2023 financial results.
• The company delivered strong results, noting this was their first quarter with operating income and that they had completed the year on a high note.
• The company reported revenue of $192.5 million for the fourth quarter, a 40% increase from Q4 2020, and net income of $14.8 million, compared to $3.2 million in the prior year.

• Intra-Cellular Therapies, during their fourth quarter and full-year 2023 earnings, expressed a positive outlook based on strong and consistent growth throughout the past year.
• Key achievements included establishing CAPLYTA as a significant treatment option for a broad patient population with bipolar depression and schizophrenia, and advancing several of their pipeline programs.
• 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.