All Reports


November 16, 2022

BRDS: Discontinuing Coverage

By Steven Fox

Due to a reallocation of resources, Fox Advisors is discontinuing coverage of Bird Global (BRDS – $0.29 – Last Rating: Not Rated – Price Target: NA). Effective immediately, our rating, price target, disclosures and estimates…

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November 16, 2022

More Rideshare Inflation Pressures to Consider

By Steven Fox

Yesterday (11/15), New York City’s Taxi Limousine Commission (TLC) voted to increase the minimum wage standards for Lyft (LYFT; $12.22; O/P) and Uber Technologies’ (UBER; $30.33; O/P) rideshare drivers by the end of this year….

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November 16, 2022

MU: More Signs of an Extended Down Cycle

By Steven Fox

This morning, Micron (MU; $60.00; E/W) announced that it is further cutting DRAM and NAND wafer starts by approximately 20% vs. FQ4 (Aug), which comes after the company previously announced plans to reduce NAND and…

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November 16, 2022

An Autonomous Road Still Traveled

By Steven Fox

Recent news flow has pointed to important progress on several autonomous vehicle (AV) commercialization roadmaps, which continue to offer viable opportunities for success even after recent management upheaval at TuSimple (TSP; $2.79; NR) and Argo…

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November 15, 2022

DELL: Looking for Valuation Support with FQ3 Print

By Steven Fox

Ahead of its FQ3 (Oct) print next Monday (11/21 after market), Dell Technologies (DELL; $42.55; E/W) shares are down 25% YTD (vs. -17% for the S&P 500), even after its 26% rally from mid-October lows,…

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November 14, 2022

Some More Positive Charging Data Points

By Steven Fox

We think Q3 results and outlook earlier today from Allego (ALLG; $2.98; NR), which is building out a fast-charging network in Europe, further highlighted robust demand for direct current (DC) fast chargers even in the…

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November 10, 2022

Land of Supply Chain Confusion

By Steven Fox

Our most recent survey suggests aggregate inventories up and down the supply chain (27 companies with ~$85B in annual inventories) increased further during CQ3, which is especially worrisome given that most companies we follow saw…

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November 10, 2022

DCFC: Adds to Recent String of Wins

By Steven Fox

Yesterday (11/9), Tritium (DCFC; $1.61; O/P) announced it signed a new supply agreement with EasyGo, which currently manages and operates ~2,400 battery electric vehicle charging points that are used by 30K+ drivers, both directly and…

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November 10, 2022

CHPT: Stock Price Looks Too Under Charged

By Steven Fox

The shares of ChargePoint (CHPT; $11.23; O/P) have now retreated 42% since 9/15, most recently driven by an 20% plunge just since 11/2, which interestingly coincided with CQ3 results and outlook from EVgo (EVGO; $6.47;…

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November 9, 2022

BHE: Meeting Adds Detailed Support for EPS Growth Story

By Steven Fox

We reiterate our Outperform and raise our target from $35 to $37 on the shares of Benchmark Electronics (BHE; $28.69) as we bump up 2023E EPS from $2.30 to $2.40 after attending the company’s Investor…

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November 8, 2022

LYFT: Further Solidifying EBITDA Path to $1B

By Steven Fox

We think Lyft’s (LYFT; $14.14; O/P) Q3 results and outlook hit the necessary “marks”, especially in the context of the current share price and recent moves by management to reduce its expense base meaningfully in…

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November 7, 2022

LYFT: First Look at Q3 Results and Outlook

By Steven Fox

Lyft (LYFT; $14.14; O/P) reported Q3 sales of $1,054mm (+6% QoQ and +22 % YoY), which was basically in line with the Street’s $1,056mm and our $1,050mm, along with adjusted EBITDA of $66.2mm (6.3% of…

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November 4, 2022

NTAP: Insight Keynote Highlights

By Steven Fox

Earlier this week, we virtually sat in on the keynote presentation at NetApp’s (NTAP; $68.04; E/W) Insight 2022 user conference, led by CEO George Kurian, which highlighted NTAP’s vision for the “evolved cloud” that aims…

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November 4, 2022

JBL: Announces CEO Succession Plans

By Steven Fox

This morning, Jabil (JBL; $65.46; O/P) announced that its Board appointed Kenny Wilson as the company’s next CEO, taking over from current CEO Mark Mondello, who will remain on the Board of Directors as Executive…

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November 4, 2022

APTV: On Firmer Footing

By Steven Fox

We raise 2022E EPS for Aptiv (APTV; $91.62; E/W) from $3.05 to $3.50 while sticking with 2023E EPS at $4.80 after global vehicle production trends in Q3 pulled forward some of its full year shipment…

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