All Reports

We think a range of news flow over the past few weeks further suggests to us that electric vehicle (EV) charging infrastructure spending remains robust even in the face of ongoing macro uncertainty, which we…

Last Thursday (2/2), TechCrunch reported that Lyft (LYFT; $17.43; O/P) is planning to unveil a next-generation dockable e-scooter along with new docking stations, which it reported is planned to start rolling out later this month….

This morning, Dell Technologies (DELL; $41.41; E/W) disclosed in an 8-K, which included an internal memo to employees from Co-COO Jeff Clarke, that it is reducing headcount by ~5% across both Client Solutions Group (CSG;…

We reviewed Nextracker’s publicly available IPO roadshow presentations and S-1 filings ahead of Flex’s (FLEX; $24.42; O/P) plans to issue 23.26mm shares of Nextracker, before an overallotment option of up to another 3.49mm shares, which…

We adjust our 2023E EPS for Aptiv (APTV; $118.68; E/W) from $3.75 to $4.35 following a “mixed bag” of Q4 results and after the company introduced 2023E EPS targets of $4.00-$4.50 (vs. consensus of $4.58). From…

Benchmark Electronics (BHE; $28.66; O/P) produced solid Q4 EPS despite late quarter weakening in higher margin semi-cap equipment program demand (25% of 2022 sales), which is consistent with recent comments from other EMS providers, such…

Aptiv (APTV; $114.75; E/W) reported adjusted Q4 EPS of $1.27, which was ahead of our $1.21 and the Street’s $1.20 on sales of $4,640mm (vs. our $4,301mm and the Street’s $4,437mm). However, as per the…

Last night, Flex’s (FLEX; $23.78; O/P) Nextracker subsidiary filed an amended S-1 as part of plans for its IPO and Nasdaq listing under the symbol NXT. The filing disclosed FLEX plans to issue 23.26mm shares…

Lyft shares (LYFT; $16.30; O/P) still look attractive to us ahead of its Q4 results and outlook, scheduled for next Thursday (2/9 after market), even after considering a recent 48% YTD rally to 1.0X 2023E…

We expect Uber Technologies’ (UBER; $31.15; O/P) Q4 results and outlook, scheduled for Wednesday, February 8th (before market), to provide further support for our belief that its vast and expanding network is undervalued, especially given…

We make further cuts to F2023/F2024E (Jun) EPS for Western Digital (WDC; $43.95; E/W), from ($1.20)/$0.20 to ($2.40)/($0.40), after FQ2 (Dec) EPS, came in more or less in line with our recently reduced estimates but…

We reiterate our Outperform and raise our target from $52 to $60 on the shares of Sensata (ST; $50.85) after it produced a Q4 beat and offered up Q1E guidance that lived up to Street…

Yesterday, NetApp (NTAP; $66.23; E/W) disclosed plans in an 8-K to restructure and subsequently reduce global headcount by a surprising ~8% in order to better prioritize investments in the face of ongoing macro uncertainties and…

Corning’s (GLW; $34.61; E/W) Q1E guidance disappointed the Street, basically as we anticipated, outside of news of another round of inflation-fighting price increases and productivity ratio improvements. Specifically, GLW targets Q1E sales and EPS of…

Corning (GLW; $36.39; E/W) reported Q4 “core” EPS of $0.47, which was ahead of our $0.45 and the Street’s $0.44 on some core sales upside ($3,633mm vs. our $3,578mm and the Street’s $3,551mm). By comparison,…