All Reports

This morning, Seagate (STX; $62.40; E/W) disclosed in an 8-K filing that it is proceeding with yet another round of cost actions, which we view as a negative indicator for its upcoming FQ3 (Mar) results…

The shares of Uber Technologies (UBER; $30.07; O/P) are now down 18% since the company produced a healthy non-GAAP EBITDA “beat and raise” with its Q4 results and outlook (“Posts Another EBITDA Beat”; 2/8). We…

Yesterday after the close, Lucid Group (LCID; $7.55; O/P) disclosed in an 8-K, which included an internal memo to employees from CEO and CTO Peter Rawlinson, plans to restructure and subsequently reduce headcount by approximately…

We reduce non-GAAP F2023/F2024E (Aug) EPS losses for Micron (MU; $59.28; E/W) from ($2.35)/($1.75) to ($4.35)/($1.95), including $1.9B of inventory write downs or the high end of our $1-2B estimate ($1.4B or $1.34 per share…

Last night, Lyft (LYFT; $9.60; E/W) surprisingly announced that co-founders Logan Green (CEO) and John Zimmer (President) are stepping down from full-time executive management positions into non-executive roles as Chair and Vice Chair of the…

We initiate on Lucid Group (LCID: $8.19) with an Outperform and a $11 target. We believe Lucid is at a critical juncture in its ambitious commercial development plans for a luxury branded electric vehicle based…

We are adjusting our F2023/F2024E (Aug) EPS for Micron (MU; $58.63; E/W), scheduled to post FQ2E (Feb) results next Tuesday (3/28 after market), from losses of ($2.30)/($1.55) to ($2.35)/($1.75) to “catch up” with management’s most…

This morning, the European Automotive Manufacturers Association released car registration data from the region for the month of February. Overall, European car registrations (15-20% of global demand) declined 1% MoM from January or above historical…

Proterra (PTRA; $1.32; O/P) shares are still down 47% since releasing Q4 results on 3/15 and some guidance for 2023E, reflecting a combination of concerns that the company would breach its convertible debt covenants, resolved…

Jabil (JBL; $78.37; O/P) produced a healthy FQ2 (Feb) sales, margin and EPS beat, held back somewhat by higher interest costs related mainly to some higher than expected inventories that we see proving highly transitory….

Jabil (JBL; $80.33; O/P) reported FQ2 (Feb) “core” non-GAAP EPS of $1.88, which beat our $1.84 and the Street’s $1.85 on sales of $8,134mm (vs. our $8,000mm and the Street’s $8,089mm) and despite ~$0.05 of…

We refined our “bottoms up” work around our Mobileye Global (MBLY; $40.93; E/W) forecasts after reviewing the company’s recent 10-K filing. Although, there is no change to our 2023/2024E sales, gross margin, and EPS forecasts,…

Last night, the California Court of Appeal overturned a lower court’s ruling that found Proposition 22 to be unconstitutional. Prop 22, which defines app-based drivers and couriers as independent contractors with certain work-hour based benefits,…

Last night, Hyzon Motors (HYZN; $1.00) announced that Parker Meeks was appointed to CEO on a permanent basis, effective immediately, after taking charge as interim CEO back in August of last year (“CEO Transition Announced”;…

Last night, Hyzon Motors (HYZN; $1.00) announced that Parker Meeks was appointed to CEO on a permanent basis, effective immediately, after taking charge as interim CEO back in August of last year (“CEO Transition Announced”;…