In today’s briefing:
- 2024 High Conviction Update: BILL Holdings, Attractive Valuation Levels To Unwind Bearish Positions
- Walmart Raises Alarm on Tariffs: What Shoppers Need to Brace For!
- Warner Music Group Is Fighting AI With the NO FAKES Act—Why It Could Change the Industry Forever!
2024 High Conviction Update: BILL Holdings, Attractive Valuation Levels To Unwind Bearish Positions
- BILL Holdings shares have materially underperformed year-to-date and fell ~51%. Shares saw selling pressure post 2QFY25 earnings as results indicated weak outlook.
- I see limited room for downside given current valuation of ~3x 2025E EV/Revenue (with ~13% growth) and recent acquisition of AvidXchange at a higher multiple.
- I believe BILL’s current attractive valuation levels can be viewed as opportunity to unwind bearish positions and valuation looks more reasonable vs. peers, especially AvidXchange.
Walmart Raises Alarm on Tariffs: What Shoppers Need to Brace For!
- Walmart reported a solid first quarter for fiscal 2026, with results exceeding analysts’ expectations and reflecting resilience amid a volatile economic environment.
- The company posted adjusted earnings of 61 cents per share, surpassing the 58-cent consensus estimate, and saw revenue grow 2.5% year over year to $165.6 billion.
- U.S. same-store sales rose 4.5%, outpacing the projected 3.9% increase.
Warner Music Group Is Fighting AI With the NO FAKES Act—Why It Could Change the Industry Forever!
- Warner Music Group (WMG) reported its fiscal second-quarter results for the period ended March 31, 2025.
- The company’s financial performance during this period was relatively stable, although it faced a variety of challenges impacting growth.
- Total revenue increased by a modest 1%, with Recorded Music revenue also growing by 1% and Music Publishing revenue by 3%.
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