In today’s briefing:
- EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades
- Adobe Inc: Major Drivers
- Cirrus Logic Inc: Major Drivers, Financial Forecasts, DCF & Comparables Valuation, Key Risks (01/23)
- Oracle Corporation: New Cloud Zone & Other Developments
EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades
- Weekly summary of vol changes and moves across Global Markets
- Analysing ATM volatility and skew changes over the last 5 days
- We suggest a few trades to take advantage of the implied vol surfaces
Adobe Inc: Major Drivers
- Adobe managed a decent result in the last quarter meeting the revenue expectations of Wall Street and managing an earnings beat.
- The company delivered 15% growth in the top-line for the 2022 fiscal with $17.61 billion in revenue.
- We remain confident in their long-term strategies and give Adobe a ‘Hold’ rating with a revised target price.
Cirrus Logic Inc: Major Drivers, Financial Forecasts, DCF & Comparables Valuation, Key Risks (01/23)
- Cirrus delivered a decent quarterly result with an all-around beat, driven by greater smartphone unit volumes linked to its customers’ new product launches, resulting in revenue over the high end of its target range.
- Furthermore, with the development of Cirrus’ 22-nm codec, audio sensing and other signal processing use cases will benefit from increased performance and power efficiency.
- The management has been working with several customers to design their first amplifier created especially for this market.
Oracle Corporation: New Cloud Zone & Other Developments
- Oracle had a strong quarter and saw its revenue increase by 25%.
- Even with Cerner excluded, total revenue increased by 9% in constant currency, exceeding Q1 and surpassing revenue from the same period last year.
- Oracle’s liquidity is also solid as it held over $7.4 billion in cash and marketable securities at the end of the quarter.
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