In today’s briefing:
- Cloudflare Inc.: Does It Have A Sustainable Competitive Advantage? – Key Drivers
- Fidelity National Information Services Inc.: Is The Recurring Revenue Growth in Banking and Capital Markets Here To Stay? – Key Drivers
- First Solar Inc.: The Evolar AB Acquisition May Be Small But Is Key For Future Growth – Major Drivers
- Index Rebalance & ETF Flow Recap: STAR50, SSE50, SSE180, KOSPI2, TW Top 50, HDFC/HDFCB, Rakuten Bank
- Snap Inc.: Acquisition Of Th3rd For 3D Scanning Capabilities & Other Drivers
Cloudflare Inc.: Does It Have A Sustainable Competitive Advantage? – Key Drivers
- Q1 was a challenging quarter for Cloudflare as the company failed to meet the revenue expectations of Wall Street as a result of various the headwinds.
- However, macroeconomic uncertainty lengthened sales cycles and affected close rates, resulting in a back-end weighted quarter.
- Despite these challenges, Cloudflare remains resilient and profitable, with an operating profit of $19.4 million and generating $13.9 million of free cash flow.
Fidelity National Information Services Inc.: Is The Recurring Revenue Growth in Banking and Capital Markets Here To Stay? – Key Drivers
- Fidelity National Info (FIS) had a successful start to 2023, surpassing Wall Street expectations in terms of revenues as well as earnings.
- FIS experienced significant recurring revenue growth in their banking and capital markets businesses and impressive organic growth in their e-commerce segment.
- We give Fidelity National Information Services a ‘Buy’ rating with a revised target price.
First Solar Inc.: The Evolar AB Acquisition May Be Small But Is Key For Future Growth – Major Drivers
- First Solar had a very disappointing result in the last quarter as it failed to meet the revenue expectations as well as the earnings expectations of Wall Street.
- With their CadTel technology, vertically integrated manufacturing process, and commitment to Responsible Solar, First Solar could stand out from competitors and maintains long-term competitiveness.
- The recent acquisition of the European perovskite company, Evolar AB was also a part of the expansion strategy.
Index Rebalance & ETF Flow Recap: STAR50, SSE50, SSE180, KOSPI2, TW Top 50, HDFC/HDFCB, Rakuten Bank
- The announcement of the changes for the June rebalance of the local China indexes was made post market close on Friday.
- A busy week is coming up with rebalance implementations, review cutoffs and announcements.
- There were inflows to iShares MSCI Japan ETF (EWJ US), Wisdomtree Japan Hedged Eq (DXJ US) and Jpmorgan Betabuilders Japan (BBJP US) during the week.
Snap Inc.: Acquisition Of Th3rd For 3D Scanning Capabilities & Other Drivers
- It was a challenging yet promising quarter for Snap as it failed to meet the revenue expectations of Wall Street but surprisingly managed to deliver a positive bottom-line.
- Despite a 7% year-over-year decrease in revenue, the company reached 383 million daily active users in Q1 and showcased the community’s continued growth.
- Snap introduced My AI, an AI-powered chatbot, and unveiled new features at the Snap Partner Summit, emphasizing their commitment to innovation.
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