All Reports

This morning, Flex (FLEX; $27.03; O/P) disclosed in an 8-K that it received shareholder approval to purchase up to 20% of its issued and outstanding shares and that its Board authorized a new cap of…

The shares of Belden (BDC; $88.79; O/P) dropped 6% on Thursday after a solid “beat and meet”, despite the company continuing to prove out the significant potential of a detailed strategy shifting more revenues to…

We reiterate our Outperform, raise our target from $125 to $130, as we increase our 2023/2024E EPS for Aptiv (APTV; $109.58) from $4.45/$5.80 to $4.80/$6.00 after the company delivered an impressive “beat and raise”. Most…

We are reducing our rating on the shares of CommScope (COMM; $3.26) from Outperform to Equal-Weight after a much bigger Q2 “miss and lower” than we expected with our recent estimate cuts (“Reducing Estimates Ahead…

Belden (BDC; $94.05; O/P) reported Q2 non-GAAP EPS of $1.91, which comfortably beat our $1.75 and the Street’s $1.77 on sales of $692mm (vs. our $688mm and the Street’s $687mm). Recall, BDC’s outlook called for…

Aptiv (APTV; $106.28; O/P) reported adjusted Q2 EPS of $1.25, handily beating our $0.90 and the Street’s $1.01, on sales of $5,200mm, which were ahead of our $4,825mm and the Street’s $4,827mm. As per the…

CommScope (COMM; $4.42; O/P) reported Q2 non-GAAP EPS of $0.19, which badly missed our consensus matching $0.37. Sales were $1,918mm, below our $2,013mm and the Street’s $2,029mm, which led to disappointing operating profits and margins…

We raise our 2023E EBITDA for DoorDash (DASH; $85.98; E/W) for a fifth consecutive quarter, from $775mm to $950mm, while increasing 2024E EBITDA from $850mm to $1,100mm after some better than expected Q2 results and…

DoorDash (DASH; $85.98; E/W) reported Q2 sales of $2,133mm (+5% QoQ and +33% YoY), which was ahead of our $2,075mm and the Street’s $2,061mm. At the same time, adjusted EBITDA of $279mm (13.1% of sales)…

On Monday (7/31), Dell Technologies (DELL; $52.94; E/W) introduced a new set of solutions (e.g., IT infrastructure, PCs, professional services) aimed at helping enterprises build Generative AI (GenAI) models on-premises in a quick and secure…

Hyzon Motors (HYZN; $1.95) is scheduled to report Q2 results next Tuesday (8/8 before market). Given that Hyzon is still in “pre-revenue” mode after recently completing a major restructuring of its strategy and operations, we…

We raise our 2023E and 2024E EBITDA for Uber Technologies (UBER; $46.86; O/P) from $3.53B and $5.15B to $3.78B and $5.50B after another “beat and raise” that was fairly impressive across basically all key metrics….

Benchmark Electronics (BHE; $26.51; O/P) produced Q2 results and outlook that demonstrated an ongoing top line growth story, despite macro conditions, that can continue to come with margin expansion, especially when adjusted for the financial…

Uber Technologies (UBER; $49.46; O/P) posted Q2 adjusted EBITDA of $916mm (9.9% of sales), which handily beat our forecast of $837mm (9.1% of sales) and the Street’s $846mm (9.1% of sales). Sales of $9,230mm were…

We once again reduce F2024E (Jun) EPS for Western Digital (WDC; $42.56; E/W), from a loss of ($3.90) to ($6.30) after a slightly better than expected FQ4 (Jun) was accompanied by disappointing guidance. Management seemed to…