Company Notes

Yesterday, CommScope (COMM; $1.49) announced that it was selected as the “highest and best bidder” to acquire Casa Systems’ (CASSQ; $0.0064; NR) Cable Business assets for $45mm. A sale hearing is scheduled for Tuesday (6/4)…

This morning, Flex (FLEX; $32.80; O/P) announced it acquired, for undisclosed terms, privately held FreeFlow, which provides a suite of electronic component asset disposition services. Overall, we think the acquisition of FreeFlow, which we assume…

We adjust F2025/F2026E (Jan) EPS for Dell Technologies (DELL; $169.92; E/W) from $7.55/$8.40 to $7.65/$8.80 after management “only” raised F2025E EPS guidance from $7.25-7.75 to $7.40-7.90 (+4-11% YoY) following a slight FQ1 (Apr) EPS beat…

We are adjusting our F2025E (Apr) EPS for NetApp (NTAP; $116.50; E/W) from $6.85 to $6.90 to account for somewhat better forward guidance after FQ4 (Apr) results largely came in as we expected. Specifically, FQ4…

We think Lyft’s (LYFT; $15.92; E/W) Investor Day, scheduled for next Thursday (6/6) in New York, can prove a positive catalyst for the shares, especially with the stock down 22% since late-March despite solid Q1…

This morning, Jabil (JBL; $117.33; O/P), which currently trades at 14X our F2024E (Aug) EPS and 6.3X EV/EBITDA, announced a new set of configurable, high-performance server platforms, which are part of the company’s broader set…

We raise our target from $34 to $40 on the shares of Flex (FLEX; $33.64; O/P) to better consider: (1) the rising importance of its robust cloud solutions offering to operating profit growth; and (2)…

Last Thursday (5/23), Dell Technologies (DELL; $160.18; E/W) topped off a series of product and partnership announcements from its Dell Technologies World user conference with news that it is expanding on its existing partnership with…

Last week, we met with Hyzon Motors’ (HYZN; $0.51) CEO Parker Meeks and CFO Stephen Weiland at the Advanced Clean Transportation (ACT) Expo in Las Vegas. Our meeting suggested management is increasingly encouraged by opportunities…

This morning, Lucid Group (LCID; $2.72; E/W) disclosed in an 8-K filing that it is reducing its headcount by 6% or ~400 employees (vs. ~6,500 employees at the end of Q1), which is aimed across…

Yesterday (5/22), we met with ChargePoint’s (CHPT; $1.73; E/W) CEO Rick Wilmer and Patrick Hamer, VP of Capital Markets, and IR, at the Advanced Clean Transportation (ACT) Expo in Las Vegas. Our conversations highlighted how…

We think NetApp (NTAP; $114.11; E/W) produces some solid upside with its FQ4 (Apr) results and outlook, which are scheduled for Thursday, May 30th (after market), vs. our and Street estimates. At the same time,…

We think the Street is looking for another healthy beat from Dell Technologies (DELL; $147.78; E/W) with its FQ1 (Apr) results and outlook next Thursday (5/30 after market) since guidance of the past six quarters…

Yesterday, we sat in on the second day of keynotes at Dell Technologies World, which was led by Dell’s (DELL; $146.68; E/W) Chief Operating Officer Jeff Clarke and included presentations from Arthur Lewis (President, Infrastructure…

Yesterday, we sat in on the Dell Technologies World keynote from Dell’s (DELL; $145.45; E/W) CEO Michael Dell in Las Vegas where the company put forward seven different product advancements, discussed below, aimed at better…