Company Notes

Last night, Sensata (ST; $27.32; E/W) disclosed in an 8-K filing that CFO Brian Roberts, who has served in his current role only since October of 2023, resigned from the company to “pursue other opportunities”….

Yesterday (5/14), Uber Technologies (UBER; $89.79; E/W) announced a strategic partnership with iFood, an on-demand delivery platform in Brazil, which is aimed at providing an easier on-demand rideshare and delivery experience for consumers in the…

Last night, Plexus (PLXS; $132.09; E/W) announced that its Board authorized a $100mm increase to its share repurchase program. By comparison, PLXS’ market cap is $3.7B and the company disclosed that it had $18mm remaining…

We reduce our rating on the shares of Nextracker (NXT; $55.04) from Outperform to Equal-Weight with the stock now up ~50% YTD, albeit mostly in the past month or so, and since F2026E (Mar) guidance…

Nextracker (NXT; $55.04; O/P) reported FQ4 (Mar) adjusted EPS of $1.29, which was well ahead of our $1.02 and the Street’s $0.97 on sales of $924mm (+26% YoY) that were also much higher than our…

Earlier today, management from Uber Technologies (UBER; $90.11; E/W) presented at its annual Go-Get Product Event, which focused on initiatives aimed at how the company can provide better affordability to customers through new product innovation…

Yesterday, Corning (GLW; $47.62; O/P) announced it is formally collaborating with Broadcom (AVGO; $232.42; NR) on a co-packaged optics (CPO) infrastructure aimed at increasing networking and processing bandwidth, density, and power efficiency, by reducing distances…

This morning, Flex (FLEX; $41.83; 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, has…

This morning, Western Digital (WDC; $46.57; O/P) announced that its Board authorized a new $2B share repurchase program that is effective immediately and equates to 12% of the company’s market capitalization. We are not surprised…

Sensata (ST; $25.47; E/W) produced some solid Q1 EPS upside and offered up better than expected Q2E guidance, especially relative to our more dour assumptions on global light vehicle production, in new CEO’s Stephan Von…

We continue to think the shares of Lyft (LYFT; $13.00; O/P) offer excellent value, even as we remain wary of some future top-line macro headwinds on network rides growth and mix. To that end, Lyft…

Lyft (LYFT; $13.00; O/P) posted much better than expected Q1 adjusted EBITDA of $106mm (2.6% of gross bookings), which compared to our $93mm (2.2% of gross bookings) and the Street’s $92mm (2.2% of gross bookings)….

This morning, Maplebear, d/b/a Instacart (CART; $44.35; E/W) confirmed in an 8-K filing that CEO Fidji Simo, who has served in her current role for nearly four years, plans to resign from the company and…

We raise our F2025/F2026E (Jun) EPS for Sandisk (SNDK; $34.97; E/W) from $2.40/$4.45 to $2.78/$4.75 after the company produced some solid upside with FQ3 (Mar) results and offered up FQ4E (Jun) guidance that was ahead…

Last night, Western Digital (WDC; $44.30; O/P) announced that it appointed Kris Sennesael as CFO (effective May 12th). Recall, the company appointed Don Bennett as interim CFO back in February after WDC’s former CFO Wissam…