Smartkarma Daily Briefs

• For the week ending 02/May, U.S. crude inventories fell by 2m barrels (vs. expectations of a 1.7m barrel fall). Gasoline stockpiles unexpectedly rose; distillate inventories fell less than anticipated.
• The EIA reported a 104 Bcf storage build, slightly exceeding the 103 Bcf forecast. Storage levels are 1.4% above the five-year average.
• Analysts cut price targets on Exxon, Chevron, Shell, Halliburton, and Schlumberger. Occidental exceeded Q1 EPS estimates but narrowly missed revenue forecasts.

• The stock opened at $33.25 versus the $30.00 issue price for a gain of 10.8% at first trade.
• According to guidance that the deal finished north of 10-times oversubscribed. The guidance pointed to a midpoint pricing and that is where the final outcome occurred.
• The sponsor, Apollo Global, is known for being a shrewd entity and a stickler on price, however, in this instance investors saw solid value in the company.

• Revelation Biosciences is a life sciences company whose development of immunologic-based therapies is based on the well-established biology of phosphorylated hexaacyl disaccharide (PHAD) and its effect on the innate immune system.
• The company announced its 1Q2025 financial results after recently revealing that it is targeting a new target indication with its Gemini treatment, the prevention of infection in burn patients.

Wheaton announced record revenue, earnings and operational cash flows in Q125, posting adjusted net EPS that was 10.5% better than our forecast and at the top of the range of analysts’ expectations. The main reason for the outperformance was an 18,616oz (20.1%) oversale of gold relative to production, which drove a US$40.1m positive variance in revenue, partially offset by an US$8.6m negative variance in costs, US$3.6m lower-than-expected interest income and US$2.3m higher tax to result in a US$23.9m positive variance in earnings. As a result, we have upgraded our FY25 adjusted net EPS forecast by 7.5c per share (3.4%). Note that, at current metals prices, our FY26 EPS estimate rises by 73.0% to US$2.63/share.

• Unusual Machines (NYSE American: UMAC) reported another record quarter with revenue of approximately $2.04 million and a gross margin of 24% with some impact from tariffs, which the company expects to be short lived.
• This growth was achieved even though US government purchases have paused recently. Margins took a slight hit from the tariffs.
• The company raised $40 million at $5.00 a share to bolster its balance sheet (customers and suppliers need to see the ability to work large orders), and to build out its Orlando motor manufacturing facility.

• Soluna just published its monthly update, which includes signing of term sheets for two new wind- powered data centers (Project Hedy for 120MW and Project Ellen for 100 MW), securing land for 166MW of Project Kati, and a new partnership with Blockware for hosting capacity at Project Dorothy 2.
• For April Soluna’s hosted hashrate was a record 1,727 PH/s, and it mined 10 Bitcoins
• Project Dorothy 1A/1B: Dorothy 1A (25 MW hosting) is fully deployed, and Dorothy 1B (25 MW prop-mining) has achieved strong hashrate growth and met Q1 2025 ancillary service requirements.

Wheaton announced record revenue, earnings and operational cash flows in Q125, posting adjusted net EPS that was 10.5% better than our forecast and at the top of the range of analysts’ expectations. The main reason for the outperformance was an 18,616oz (20.1%) oversale of gold relative to production, which drove a US$40.1m positive variance in revenue, partially offset by an US$8.6m negative variance in costs, US$3.6m lower-than-expected interest income and US$2.3m higher tax to result in a US$23.9m positive variance in earnings. As a result, we have upgraded our FY25 adjusted net EPS forecast by 7.5c per share (3.4%). Note that, at current metals prices, our FY26 EPS estimate rises by 73.0% to US$2.63/share.

• Longeveron is focusing on using its primary treatment, Lomecel-B, to fight a rare pediatric heart birth defect that devastates families but continues to receive good FDA news regarding its treatment for Alzheimer’s Disease.
• The company announced its 1Q results that illustrate the company is on the verge of potentially transformational year.

• Amkor Technology reported its first-quarter financial results for 2025, delivering revenue of $1.32 billion, which reached the upper end of the company’s guidance.
• Earnings per share (EPS) stood at $0.09, pressured by increased research and development (R&D) expenses dedicated to advancing RDL technology for upcoming programs.
• The company’s global manufacturing operations have largely remained insulated from current tariffs and ongoing trade regulations due to their presence in free trade zones, minimizing direct impacts from U.S. import tariffs.

• Crown Holdings reported a strong first quarter for 2025, outperforming expectations with earnings per share at $1.65, significantly higher than the $0.56 from the prior year.
• On an adjusted basis, EPS reached $1.67, an increase from $1.02 a year ago.
• This robust performance was driven by a 3.7% rise in net sales, attributed to gains in global beverage can volumes and North American food can volumes.