Company Notes

Corning (GLW; $44.10; O/P) reported Q1 “core” EPS of $0.54, which was ahead of our $0.50 and the Street’s $0.51 on some better than expected core sales ($3,679mm vs. our $3,600mm and the Street’s $3,643mm)….

We are reducing our 2025/2026E EPS for Amkor Technology (AMKR; $17.48; E/W) from $1.35/$2.20 to $1.00/$1.40. Admittedly, this is after the company produced Q1 results in line with our and Street thinking while offering up…

Amkor Technology (AMKR; $17.48; E/W) reported Q1 EPS of $0.09, which was in line with our consensus matching $0.09 on sales of $1,322mm that exceed our and the Street’s $1,275mm). Recall, AMKR’s Q1 guidance called…

Sanmina (SANM; $80.73; O/P) reported FQ2 (Mar) non-GAAP EPS of $1.41, which was ahead of our consensus matching $1.38 on somewhat better than expected sales of $1,984mm (vs. our $1,963mm and the Street’s $1,964mm). Recall,…

This morning, Flex (FLEX; $34.70; O/P) announced it “significantly” increased production capacity for data center power products, such as busway systems, power distribution units and remote power panels, at its manufacturing facility in Columbia, South…

We believe the shares of Fabrinet (FN; $198.55; O/P), which are still down 26% over the past 3+ months, prove oversold when the company reports FQ3 (Mar) results and outlook next Monday (5/5 after market)…

On Friday, Deliveroo (ROO.GB; £1.72; NR) disclosed it received an all-cash takeover proposal from DoorDash (DASH; $187.76; E/W) on April 5th to purchase the company in its entirety for 180 pence per Deliveroo share or…

Last Thursday (4/24), Lyft (LYFT; $12.21; O/P) published a shareholder letter from CEO David Risher, which emphasized what has become the company’s intense focus on providing a better and better rideshare experience since he was…

We are raising our 2025/2026E EPS for Celestica (CLS; $90.97; O/P) from $4.75/$5.35 to $5.00/$5.70, implying more than 20% average EPS growth over the next two years, while staying on the conservative side for possible…

We bump up our F2025/F2026E (Sept) EPS for Plexus (PLXS; $125.35; E/W) from $6.90/$7.55 to $7.05/$7.70 after the company produced some FQ2 (Mar) EPS upside, led by healthier than expected operating margins, and FQ3E (Jun)…

We adjust our 2025/2026E EPS for Vertiv Holdings (VRT; $83.88; E/W) from $3.55/$4.25 to $3.50/$4.20 after the company produced a solid Q1 EPS beat ($0.64 vs. our $0.60 and consensus of $0.61) and updated full…

Mobileye Global (MBLY; $14.50; E/W) reported some Q1 upside while reiterating its full 2025E guidance, which management thinks already bakes in a reasonable amount of risk to revenue from newly imposed U.S tariffs on vehicle…

We are confident that FQ2 (Mar) results and guidance from Sanmina (SANM; $80.26; O/P) can at least live up to our and Street expectations when it reports on Monday (4/28 after market) given what we…

We stick with our forecasts for Benchmark Electronics (BHE; $37.69; O/P) ahead of its Q1 results and outlook, scheduled for next Tuesday (4/29 after market), although we still wonder about the difficulty of “getting things…

According to press reports from earlier today, Lyft (LYFT; $12.06; O/P) plans to onboard taxis to its rideshare network for certain riders in St. Louis, MO starting next month. Interestingly, this news follows closely on…