Company Notes

Last week, Uber Technologies’ (UBER; $71.58; O/P) CEO Dara Khosrowshahi traveled to South Korea in another highly publicized overseas business trip, which we think provided some more support for the idea that underpenetrated geographies are…

Earlier today, Lyft (LYFT; $11.47; O/P) filed an 8-K, disclosing plans to restructure its bikes and scooters business unit, now organized under the moniker of Lyft Urban Solutions (LUS), with an aim of better optimizing…

Last night, Sensata (ST; $36.66; E/W) disclosed in an 8-K that it signed an agreement last month to divest its Insights business to private equity firm Balmoral Funds for $165mm in cash. Recall, this data…

This morning, CommScope’s (COMM; $3.90; NR) RUCKUS Networks business unit and Nokia (NOK; $4.39; NR) announced the introduction of a new Wi-Fi and fiber connectivity solution to enable a range of what should be increasingly…

Last Friday (8/30), Hyzon (HYZN; $0.06; NR) announced that it, along with New Way Trucks, a large U.S.-based manufacturer of refuse equipment, and Recology, a waste and recycling management provider, showcased a hydrogen fuel cell…

We are raising our rating on the shares of Dell Technologies (DELL; $110.74) from Equal-Weight to Outperform, bumping up F2025/F2026E (Jan) EPS from $7.65/$8.80 to $7.90/$9.25 (14% average growth), and establishing a target of $140…

This morning, Uber Technologies (UBER; $72.60; O/P) announced a new strategic partnership with autonomous vehicle (AV) technology provider Wayve to ultimately deploy Wayve-powered AVs on Uber’s rideshare and delivery network in “multiple” markets globally. As…

We bump up our F2025/F2026E (Apr) EPS for NetApp (NTAP; $131.91; E/W) from $6.90/$7.75 to $7.15/$8.00 after a solid FQ1 (Jul) EPS beat drove some incremental confidence in the company’s full F2025E EPS guidance. Specifically,…

NetApp (NTAP; $131.91; E/W) reported FQ1 (Jul) non-GAAP EPS of $1.56, which was ahead of our $1.47 and the Street’s $1.45, on some sales upside ($1,541mm vs. our $1,538mm and the Street’s $1,526mm) and better…

We think FQ2 (Jul) results and outlook from ChargePoint (CHPT; $1.84; E/W), scheduled for Wednesday, September 4th (after market), come with a relatively high degree of difficulty given all the moving pieces in recent months…

Last night (8/22), Uber Technologies (UBER; $73.31; O/P) announced a multi-year strategic partnership with General Motors’ (GM; $46.46; NR) Cruise unit whereby it will deploy autonomous vehicles (AVs) on Uber’s network. This agreement builds on…

This morning, Flex (FLEX; $31.92; O/P) announced that its Anord Mardix business, which is focused on a range of power solutions for cloud and traditional data centers, as well as some other industrial applications, opened…

We reviewed Western Digital’s (WDC; $65.03; O/P) recently filed 10-K for the fiscal year ending June 28th, 2024. Most importantly, WDC did not offer up any new disclosures in the filing on its pending spin-off…

We think the risk/reward skews somewhat positive for the shares of NetApp (NTAP; $133.25; E/W) into its FQ1 (Jul) results and outlook next Wednesday (8/28 after market), albeit with puts and takes for investors to…

We see a favorable risk/reward for the shares of Dell Technologies (DELL; $111.53; E/W) into its FQ2 (Jul) results and outlook next Thursday (8/29 after market). Admittedly, the stock is now up 27% just since…