Company Notes

We think the recent 16% decline in the shares of Corning (GLW; $30.02; E/W), to basically around multi-year lows, represents an interesting “battlefront” for bulls and bears. We think this is especially the case when…

Hyzon Motors (HYZN; $1.20) announced last night in an SEC filing and subsequent press release this morning that it expanded its intellectual property (IP) agreement with affiliates of Horizon, an advanced hydrogen fuel cell company…

This morning, Vantiva (VANTI.FR; €0.18; NR) announced it reached an agreement with CommScope (COMM; $3.45; E/W) to purchase its Home Networks business in exchange for: (1) a 25% stake in Vantiva on a fully dilutive…

We think recent news flow further highlights the intrinsic value of Hyzon Motors’ (HYZN; $1.21) proprietary fuel cell system yet to be recognized in the company’s current valuation. Most notably, last Thursday (9/28), Nikola (NKLA;…

The shares of Sensata (ST; $38.29; O/P) have reacted positively to Wednesday’s Investor Event in New York, rising ~6% since the meeting started, although this is still in the context of a recent ~20% decline…

Earlier this week, we had the opportunity to catch up with Amphenol’s (APH; $84.08; E/W) CEO Adam Norwitt, CFO Craig Lampo, and Sherri Scribner, VP, Strategy, and IR to discuss some of our “top of…

We reiterate our Outperform, increase EPS estimates, and raise our target from $125 to $150 on the shares of Jabil (JBL; $124.95) another “beat and raise” with its FQ4 (Aug) print and full year F2024E…

Jabil (JBL; $105.18; O/P) reported FQ4 (Aug) “core” non-GAAP EPS of $2.45, which beat our consensus matching $2.32 on sales of $8,458mm (vs. our $8,506mm and the Street’s $8,537mm). As illustrated in the variance table…

We bump up our F2024E (Aug) EPS from a loss of ($2.60) to ($2.30) and raise F2025E EPS from $1.90 to $2.45 for Micron (MU; $68.21; E/W) after a basically as expected FQ4 (Aug) print…

Micron Technology (MU; $68.21; E/W) reported FQ4 (Aug) non-GAAP EPS of a loss of ($1.07), which was somewhat ahead of our ($1.18) and the Street’s ($1.15) on slightly better than expected sales ($4,010mm vs. our…

Last night, Jabil (JBL; $105.00; O/P) announced that it reached a definitive agreement to divest its Mobility business (11% of sales at somewhat below average margins) to BYD Electronic or BYDE (285.HK; HK$34.95; NR) for…

Last night, Hyzon Motors (HYZN; $1.22) announced a final resolution of an SEC investigation, ongoing since January of 2022, in which the company agreed to pay a civil monetary penalty of $25mm, subject to court…

The shares of Uber Technologies (UBER; $44.27; O/P) have now retreated 11% since the end of July, albeit in a weak tech tape (-9% for NASDAQ over the same period), but despite a subsequent Q2…

We reiterate our Outperform on Jabil shares (JBL; $107.33) ahead of its FQ4 (Aug) results and Annual Investor Briefing next Thursday (9/28 before market) when we expect a first view on F2024E (Aug) sales and…

After reducing our generally below consensus estimates for Micron (MU; $69.68; E/W) on five different occasions over the course of the past year, we think this may finally be the quarterly call where Street projections…