Company Notes

Yesterday after the close (3/19), Benchmark Electronics (BHE; $27.65; O/P) announced CFO Roop Lakkaraju, who has served in his current role for the past six years, is stepping down (effective April 1st) to take over…

In recent weeks, DoorDash (DASH; $134.31; E/W) has continued to announce new retail on-demand delivery partnerships to its Marketplace platform, most recently adding well-known brands such as MAC Cosmetics, Pet Supplies and Sally Beauty. We…

This morning, the Volkswagen Group (VOW.DE; €136.90; NR) announced it will integrate Mobileye Global’s (MBLY; $29.97; O/P) advanced driver assistance systems (ADAS) and autonomous driving systems (ADS) across its luxury global brands (Audi, Bentley, Lamborghini,…

Earlier today, Mobileye Global (MBLY; $29.11; O/P) announced the wind down of its aftermarket solutions business following a “thorough review” of the operations’ future growth prospects and investment requirements. The decision was reached as MBLY…

We think recent news flow around Uber Technologies (UBER; $74.51; O/P) has generally been much more positive than negative since the company hosted its Virtual Investor Update (“Raise Target to $100 After Investor Update”; 2/14)….

Last Thursday, the Minneapolis City Council passed an ordinance that requires rideshare drivers to earn $0.51 per minute and $1.40 per mile for each ride provided, with a minimum of $5 for each fare, excluding…

The shares of Jabil (JBL; $123.15; O/P) plunged 16% on Friday, leaving the stock 20% below recent highs, after F2024E (Aug) guidance disappointed the Street for a second quarter in a row, albeit in the…

Jabil (JBL; $1.47.46; O/P) reported FQ2 (Feb) “core” non-GAAP EPS of $1.68, which was ahead of our $1.63 and the Street’s $1.66 on sales of $6,767mm (vs. our $6,900mm and the Street’s $6,891mm). Recall, JBL…

Yesterday (3/13), the U.S. Department of Energy (DoE) announced it awarded $750mm in funding for 52 different clean hydrogen-based projects (across 24 U.S. states) that was available through the U.S. Infrastructure Investment and Jobs Act….

We initiate coverage of Amkor Technology (AMKR; $33.08) with an Equal-Weight rating after a 62% rally in its shares since late-October. Amkor, founded in 1968, is a top player in the outsourced semiconductor assembly and…

Micron (MU; $93.15; E/W) is +18% since its late-December FQ1, suggesting the Street is looking for a pretty complete “beat and raise” with FQ2 (Feb) results and outlook next Wednesday (3/20). Consensus is most bullish…

This morning, Hyzon Motors (HYZN; $0.67) announced at a ceremony in Australia that it successfully integrated its single-stack 200kW fuel cell system (FCS) and powertrain into a heavy-duty cabover commercial truck designed to tow semi-trailers,…

Jabil (JBL; $154.53; O/P) shares are up 21% YTD and +83% over the past year into its FQ2 (Feb) print next Friday (3/15 before market). This is even though our F2024E (Aug) and F2025E EPS…

Yesterday, NetApp (NTAP; $104.80; E/W) announced some incremental developments on the artificial intelligence (AI) front. Although we assume AI-workloads are not a significant sales driver of storage systems until customers start to deploy models capable…

We lower F2025E (Jan) sales for ChargePoint (CHPT; $2.00; E/W) from $538mm to $500mm after it reported a slightly better FQ4 (Jan) than we expected, albeit with a weaker than anticipated FQ1E (Apr) outlook, more…