In today’s briefing:
- Alcoa Corp: The Alumina Price Upside & Other Drivers
- Microsoft Corporation: The Continuing Cloud Momentum
- Moody’s Corporation: The Latam Expansion & Other Drivers
- Stryker Corporation: The Vocera Acquisition & Other Drivers
Alcoa Corp: The Alumina Price Upside & Other Drivers
- Alcoa Corp is seeing improving shipment volumes and benefitting heavily from the stronger U.S. dollar as well as the higher alumina price index.
- Higher costs and lower aluminum and alumina premiums combined with lower metal prices, which included about $40 million to set inventories to net realizable value, more than offset those advantages.
- It is worth highlighting that Alcoa holds accreditations from the Aluminum Stewardship Initiative, the most comprehensive independent system for auditing ethical aluminum production.
Microsoft Corporation: The Continuing Cloud Momentum
- Despite the massive size of its revenues, Microsoft has proven to be a remarkable story in terms of percentage-basis top-line growth over the past few years.
- The Microsoft Cloud achieved a quarterly revenue milestone of $25 billion for the first time, up 28% and 33% in constant currency.
- Additionally, Microsoft acquired the cyber threat research and analysis company Miburo to advance threat intelligence gathering on fresh foreign cyber threats.
Moody’s Corporation: The Latam Expansion & Other Drivers
- Moody’s Corporation has seen its business get hit badly by the impact of volatile market conditions and foreign exchange fluctuations.
- The issuance activity for high yield bonds and leveraged loans has been dampened in the prevailing high-interest rate environment affecting the company.
- Given the current environmental uncertainty, we provide the stock of Moody’s Corporation with a ‘Hold’ rating with a revision in the target price.
Stryker Corporation: The Vocera Acquisition & Other Drivers
- Stryker Corporation has faced a challenging macro environment and is undergoing various supply shortages but this did not stop the company from delivering a solid growth in organic sales.
- Spine and orthopedics net sales also increased in the quarter in constant currency.
- We prove the stock of Stryker Corporation with a ‘Hold’ rating and a revision in the target price.
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