STX: First Look at FQ1 (Sep) Results and Outlook

Seagate (STX; $112.64; E/W) reported FQ1 (Sep) non-GAAP EPS of 1.58, which compared to our $1.60 and the Street’s relatively stale $1.48 since management noted in early-September that EPS would likely be at the high…

UBER: Positioned Well to Report More Global Growth

We think Uber Technologies (UBER; $80.41; O/P) Q3 results and guidance next Thursday (10/31 before market) can at least live up to Street expectations, even after considering some potential transitory effects on results from recent…

LYFT: Raise Price Target Ahead of Q3 Print

We think Lyft’s (LYFT; $13.86; O/P) Q3 results and outlook, scheduled for November 6th (after market), can lead to a “next leg” in the stock’s recent recovery that started in mid-August (+53% vs. a prior…

HYZN: Discloses A New Refuse Truck Purchase Agreement

This morning, Hyzon Motors (HYZN; $2.47) announced it entered into a purchase agreement to supply GreenWaste, a waste management services provider based in California, with 12 of its hydrogen-powered refuse fuel cell electric vehicles (FCEVs)…

Solid September Seasonality from European Registrations

This morning, the European Automobile Manufacturers Association released car registration data from the region for the month of September, which was right around MoM seasonal patterns. Specifically, European vehicle registrations increased 48% MoM (~20% of…

GLW: Hemlock Awarded CHIPS Act Funding

This morning, the U.S. Department of Commerce announced that it signed a non-binding preliminary memorandum of terms with Corning’s (GLW; $47.08; O/P) Hemlock Semiconductor business (9% of 2024E sales) to provide up to $325mm in…

PLXS: A Lot of Good News in the Stock?

We have badly missed a recent breakout in the shares of Plexus (PLXS; $136.69; E/W) since its most recent bottom in mid-June (e.g., +34% since 6/11 vs. +21% over the prior two years), which especially…

GLW: Raise Price Target Ahead of Q3 Print

The shares of Corning (GLW; $46.62; O/P) have rebounded 23% since early-August, exceeding prior highs of May 2021 to levels last seen in 2000, which of course “raises the bar” for the stock into its…

TEL: FQ4 Print Can Highlight Some Differentiated Value

We reiterate our Outperform on the shares of TE Connectivity (TEL; $148.97; O/P) ahead of its FQ4 (Sept) results and outlook, scheduled for October 30th (before market). We note the stock is still only at…

APH: Expecting A Solid Q3E Beat and Meet

We think Amphenol (APH; $67.46; E/W) delivers another in a recent series of “beat and meets” with its Q3 results and Q4E guide on Wednesday (10/23 before market). We model Q3E sales, operating margins, and…

Welcome to the Power Technologies Land Grab

Yesterday (10/17), Schneider Electric (SU.FR; €245.65; NR) announced an agreement to acquire a 75% interest in Motivair Corporation, a privately held company that specializes in liquid cooling and advanced thermal management, for $850mm. We think…

BHE: Expect a Solid Q3 Print and Guide

We think Benchmark Electronics (BHE; $44.99; E/W) produces Q3 results and guidance on October 30th (after market) that provide solid support for current valuation with upside potential mainly tied to recent bookings and updated production…

LCID: Another Big Dilutive Capital Raise

The shares of Lucid Group (LCID; $2.72; E/W) are down 17% today after it completed a major equity capital raise that included another investment by its majority stockholder and affiliate of the Public Investment Fund…

FLEX: Crowns Its Power Solutions with More Opportunity

This morning, Flex (FLEX; $34.70; O/P) announced plans to acquire, for $325mm in cash, privately held Crown Technical Systems, which produces power distribution and protection systems used in data centers, as well as by utilities…

CLS: A Recently Raised Bar Looks Manageable

The bar has obviously been raised for Celestica (CLS; $58.42; O/P) into its Q3 results and outlook, scheduled for next Wednesday (10/23 after market), given how the shares have rebounded 37% from recent lows set…