Our latest look at aggregate inventories up and down the supply chain after the recent CQ3 results season suggested further progress towards “normalizing” inventories, especially at electronics manufacturing service (EMS) providers. However, we recognize that…
We modify 2024E and 2025E adjusted EBITDA for Lucid Group (LCID; $2.31; E/W) from losses of ($2.54B)/($2.11B) to ($2.44B)/($2.10B) after Q3 EBITDA losses of ($613mm) were less than our estimate of ($658mm), which compared to…
Last night, Aptiv (APTV; $55.64; E/W) announced that Joe Massaro, who has served as CFO since 2016, would move into a senior operations role as Vice Chairman, Engineered Components Group (ECG; interconnect and cable management…
We reinstate our Equal-Weight on the shares of CommScope (COMM; $5.20), after today’s 25% decline in the stock, which seemed to reflect concerns tied to news that negotiations with one group of creditors had ceased…
We reiterate our Outperform and raise our target from $16 to $21 on the shares of Lyft (LYFT; $14.40) after the company beat Q3 expectations and provided some better-than-expected Q4E guidance that reflected well on…
Lyft (LYFT; $14.40; O/P) posted Q3 gross bookings of $4.108B, which was ahead of our $4.07B and the Street’s $4.08B that in turn drove adjusted EBITDA of $107mm (2.6% of gross bookings) vs. our $93mm…
We think yesterday’s Q3 results and guidance from Lumen Technologies (LUMN; $8.87; NR) highlighted the Optical Technologies sales and profits tailwinds (30%+ of 2024E sales and nearly 40% of profits) that Corning (GLW; $48.30; O/P)…
Not surprisingly, the shares of Nextracker (NXT; $40.79; O/P) are trading down 7% today after the U.S. Presidential election raised investor questions around the ongoing availability of various solar industry benefits derived from the Inflation…
This morning, Mobileye Global (MBLY; $15.83; E/W) and Lyft (LYFT; $14.23; O/P) announced a partnership aimed at deploying MBLY’s autonomous driving system (e.g., Drive) as part of autonomous vehicles (AVs) to be engaged on LYFT’s…
We are reducing our 2024/2025E EPS for Sensata (ST; $31.78; E/W) from $3.50/$3.60 to $3.42/$3.40 after the company produced a basically as expected set of Q3 results, albeit with Q4E guidance that was below our…
We stick with our Outperform and bump up our target from $85 to $87 on the shares of Sanmina (SANM; $72.80; O/P) after the company posted solid FQ4 (Sept) results and guidance, especially on the…
Over the past week, Hyzon Motors (HYZN; $1.69) disclosed two separate announcements about completed trials of its Class 8 200kW fuel cell electric truck with TALKE, a logistics solutions provider for the chemical industry, as…
Mobileye Global (MBLY; $15.57; E/W) shares rose 25% last week after it reported Q3 results and provided guidance on Thursday morning (10/31) that offered support for the idea that management has found a stable base…
We adjust our 2024/2025E EBITDA for DoorDash (DASH; $155.82; E/W) from $1,875mm/$2,275mm to $1,900mm/$2,375mm (+60% and +25% YoY) after the company produced better than expected Q3 results with guidance that was basically in line with…
We adjust our 2024/2025E EPS for Belden (BDC; $116.14; E/W) from $5.95/$7.55 to $6.15/$7.55 after it produced solid Q3 results and guidance. Q3 non-GAAP EPS of $1.70 came in comfortably ahead of our $1.60 and…