UBER: An M&A Setback in Taiwan

Yesterday (12/25), Taiwan’s Fair Trade Commission (FTC) announced that it was blocking Uber Technologies’ (UBER; $61.71; O/P) planned acquisition of Delivery Hero’s (DHER.DE; €28.58; NR) foodpanda delivery business in Taiwan (foodpanda Taiwan) due to its…

UBER: Doubles Down on Taxis in South Korea

This morning, Uber Technologies (UBER; $60.21; O/P) announced plans to acquire TMAP Mobility’s 49% stake in the two companies’ joint venture (JV), named Uber Taxi, in South Korea for $39mm, which would give Uber full…

Some Solid Vehicle Demand Mix in Europe

This morning, the European Automobile Manufacturers Association released new car registration data from the region for the month of November, which was in line with typical MoM seasonal trends. Importantly, the data included ongoing healthy…

MU: A Transitory Type of Disappointment

We reduce F2025/F2026E (Aug) EPS for Micron (MU; $103.90; O/P) from $8.40/$11.20 to $6.75/$8.80 after FQ2E (Feb) guidance badly disappointed the Street, albeit with FQ1 (Nov) profits that were somewhat better than expected despite a…

MU: First Look at FQ1 (Nov) Results and Outlook

Micron Technology (MU; $103.90; O/P) reported FQ1 (Nov) non-GAAP EPS of $1.79, which was ahead of our $1.75 and the Street’s $1.76 despite some lower than expected sales ($8,709mm vs. our $8,750mm and consensus of…

JBL: Cloud Ecosystem Drives Upside Surprise

We bump up our F2025/F2026E (Aug) EPS for Jabil (JBL; $144.95; O/P) from $8.65/$9.60 to $8.75/$9.75 after the company produced a solid “beat and raise” on especially healthy free cash flows (FCF), which was led…

JBL: First Look at FQ1 (Nov) Results and Outlook

Jabil (JBL; $133.96; O/P) reported FQ1 (Nov) “core” non-GAAP EPS of $2.00, which beat our $1.87 and the Street’s $1.88 on sales of $6,994mm that were also ahead of our $6,600mm and the Street’s $6,608mm)….

COMM: Cleans Up Balance Sheet

Last night, CommScope (COMM; $5.61; E/W) announced a major refinancing that pushes out upcoming maturities while laying out a specific plan to reduce balance sheet leverage, which we think enables the company’s ongoing businesses to…

ST: Names New CEO

This evening, Sensata (ST; $29.48; E/W) announced that its Board appointed Stephan Von Schuckmann as CEO effective as of January 1st. Recall, Sensata appointed Martha Sullivan as interim CEO back in April after its former…

Following the Money to More HDD Demand

We think recent reports that privately held Verkada, a supplier of security hardware, such as video cameras, access controls, environmental sensors, alarms and intercoms, is set to raise $200mm in funding at a $4.5B valuation,…

CART: Adds To Business Offering

Yesterday (12/16), Maplebear, d/b/a Instacart (CART; $42.18; E/W), announced it is now offering several new supplier and merchant solutions to Instacart Business users on its platform. Recall, CART’s higher margin Instacart Business offering allows customers…

LYFT: Another Buying Opportunity on Autonomous Overreach

The shares of Lyft (LYFT; $14.09; O/P) are down 23% since 11/12, including a more recent -13% since 12/10, which came on the heels of a report out of data analysis provider Yipit on Alphabet’s…

WDC: Calls Out Some More NAND Pricing Pressure

Yesterday, the shares of Western Digital (WDC; $65.99; O/P) declined 6% on the heels of CEO Dave Goeckeler and CFO Wissam Jabre presenting at an investor conference where the company called out that it is…

MU: Still Looks Oversold into FQ1 (Nov) Print

We continue to see the shares of Micron (MU; $99.43; O/P) as undervalued into its FQ1 (Nov) results and outlook, scheduled for next Wednesday (12/18 after market). We note the stock is +4% since an…

JBL: See FQ1 Providing Solid Set Up for Future Growth

We think Jabil’s (JBL; $132.75; O/P) FQ1 (Nov) results and outlook, scheduled for next Wednesday (12/18 before market), should comfortably support the company’s full F2025E sales, operating margin and EPS outlook of $27.0B (+2% YoY…