Company Notes

Last week, a series of announcements out of Uber Technologies (UBER; $39.73; O/P) further highlighted all the “levers it can still pull” to drive an even more attractive mix of bookings and thus further operating…

ChargePoint (CHPT; $9.07; O/P) shares dropped 7% on Friday (6/2) after the company posted another quarter of robust sales growth in FQ1 (Apr) with further gross margin improvements and opex discipline that led to some…

We bump up F2024E (Jan) EPS for Dell Technologies (DELL; $45.46; E/W) from $5.15 to $5.35 after the company raised full year EPS guidance from $5.00-5.60 to $5.25-5.75, albeit after FQ1 EPS (Apr) beat our…

Dell Technologies (DELL; $45.58; E/W) released its FQ1 (Apr) results at 3PM EST. Specifically, the company reported non-GAAP EPS of $1.31, which beat our $0.85 and the Street’s $0.86. Sales were better than our forecasts…

Last night, Lucid Group (LCID; $7.76; O/P) announced it raised ~$3B through the issuance of a combined 439.239mm shares of its common stock through two separate transactions. By comparison, the company’s total shares outstanding were…

We raise F2024E (Apr) EPS for NetApp (NTAP; $66.35; E/W) from $5.30 to $5.68 (+1% YoY) after a solid FQ4 (Apr) beat and EPS guide for the new fiscal year ($5.65-5.85 vs. the Street’s $5.58),…

NetApp (NTAP; $66.35; E/W) reported FQ4 (Apr) non-GAAP EPS of $1.54, which was comfortably ahead of our $1.34 and the Street’s $1.35 on some sales upside ($1,581mm vs. our $1,544mm and the Street’s $1,543mm) and…

We reviewed Lyft’s (LYFT; $9.02; E/W) third annual Multimodal Report, which was published on Friday (5/26). The report provided a series of incremental proof points for the significant opportunity we still see for Lyft to…

We think recent news flow from Uber Technologies (UBER; $37.56; O/P) further highlights how the company can drive more and more near-term AI and machine learning outcomes “at the edge” over time through its shared…

We think last week’s Capital Markets Day from Ford (F; $12.59; NR) and FQ1 (Apr) results from NVIDIA’s (NVDA; $401.11; NR) bode especially well for electrification, active safety (Level 2+ autonomy) and software-defined vehicle stories…

We see favorable risk/reward around the shares of ChargePoint (CHPT; $8.36; O/P) into the company’s FQ1 (Apr) results and outlook, which are scheduled for next Thursday (6/1 after market). The stock is now down 26%…

We are concerned our and Street forecasts for Dell Technologies (DELL; $45.43; E/W) go through another round of cuts after its FQ1 (Apr) print next Thursday (6/1 after market). Recall, Dell’s F2024E (Jan) outlook called…

We are reducing our 2023/2024E EPS for Corning (GLW; $31.71; E/W), which were already below consensus, from $1.90/$2.20 to $1.80/$2.07 (vs. the Street’s $2.00/$2.38), to take a more conservative demand stance around the company’s Optical…

We believe out-quarter consensus thinking for NetApp (NTAP; $66.46; E/W) once again proves too optimistic, especially on the top line, when the company reports FQ4 (Apr) results and outlook next Wednesday (5/31 after market). On…

Dell Technologies’ (DELL; $46.57; E/W) Co-COO Jeff Clarke led an interesting keynote earlier today during the second day of Dell Technologies World. The talk further highlighted the company’s accelerating pace of innovation that we see…