Company Notes

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…

We reiterate our Outperform and $50 target on the shares of Corning (GLW; $40.26) after hosting a virtual investor meeting with Ann Nicholson, Vice President of Investor Relations, on Wednesday (8/14). Most importantly for us,…

Recent news flow out of Maplebear, doing business as Instacart (CART; $32.01; E/W), provides further support for the idea that the company is enabling a wider range of avenues for deepening relationships with existing retail…

Hyzon Motors (HYZN; $0.08) reported Q2 results, which generally lived up to our expectations on a continuing operations basis. Most importantly, Hyzon’s average monthly free cash flow (FCF) burn rate in Q2 was ($9.2mm) or…

We reiterate our Outperform on the shares of Sanmina (SANM; $69.48) after hosting an investor meeting in San Jose, CA with CEO Jure Sola and CFO Jon Faust, where we also had the opportunity to…