Daily BriefsUnited States

Daily Brief United States: Intel Corp, Mosaic Co/The, Chevron Corp, Dexcom Inc, Domino’s Pizza, Eli Lilly & Co, Comcast Corp Class A, Etsy Inc, Harris Corp, Keurig Dr Pepper Inc and more

In today’s briefing:

  • Intel Has Big Problems Ahead
  • The Mosaic Company: A Structural Transition Away from Exports in Phosphates – Key Drivers
  • Chevron Corporation: Acquisition of PDC Energy As A Part Of Oil & Gas Industry Consolidation & Other Drivers
  • DexCom Inc.: Launch of G6 Glucose Monitoring System & Other Drivers
  • Domino’s Pizza Inc.: Store Additions Continue To Drive Growth – Key Drivers
  • Eli Lilly and Company: Can Rezvoglar Destroy Sanofi’s Insulin Market Share? – Key Drivers
  • Comcast Corporation: Subscriber Growth Slowdown & Growing Peacock Losses Are Concerning – Key Drivers
  • Etsy Inc.: Can It Really Outperform The Major Indices? – Key Drivers
  • L3Harris Technologies Inc.: Launch of Next-Generation NTS-3 Satellite & Other Developments
  • Keurig Dr Pepper Inc.: Does The Long-Term Growth Potential of Single-Serve Pod Business Make It A Buy? – Key Drivers

Intel Has Big Problems Ahead

By Kevin George

  • The chip industry is seeing two “transitions” Intel is being phased out with the GPU shift, according to the company.
  • The company is also expected to be phased out of the chip industry with the next generation of processors.
  • The chip company is expected to have a new generation of chips in the coming years.

The Mosaic Company: A Structural Transition Away from Exports in Phosphates – Key Drivers

By Baptista Research

  • The Mosaic Company had a mixed quarter with revenues of $3.6 billion that were above Wall Street expectations but the company missed out on earnings.
  • While supply issues are still a worry, this is drawing growers back to the market.
  • We give The Mosaic Company a ‘Buy’ rating with a revised target price.

Chevron Corporation: Acquisition of PDC Energy As A Part Of Oil & Gas Industry Consolidation & Other Drivers

By Baptista Research

  • Chevron once again produced impressive financial results in the most recent quarter and delivered an all-around beat.
  • Despite 20% lower oil prices, adjusted first-quarter earnings increased by more than $200 million over the previous year.
  • Adjusted upstream earnings decreased due to realizations, while adjusted downstream earnings grew due to greater refining margins.

DexCom Inc.: Launch of G6 Glucose Monitoring System & Other Drivers

By Baptista Research

  • DexCom had a strong quarter and managed an all-around beat with strong organic revenue growth of 19% compared to last year.
  • The company’s momentum in global CGM adoption remains high, driven by the growing recognition of the unique experience DexCom provides.
  • The launch of their G7 system has been met with enthusiasm, supported by a successful Super Bowl commercial that generated significant engagement and awareness.

Domino’s Pizza Inc.: Store Additions Continue To Drive Growth – Key Drivers

By Baptista Research

  • Domino’s Pizza had a mixed quarter.
  • The company’s revenues were below Wall Street expectations but its operating income margin increased by 100 basis points year-over-year resulting in an earnings beat.
  • In the first quarter, Domino’s international company opened 143 new stores while closing 37 others, totaling 106 net new stores.

Eli Lilly and Company: Can Rezvoglar Destroy Sanofi’s Insulin Market Share? – Key Drivers

By Baptista Research

  • Eli Lilly is off to a mixed start in 2023, with volume-driven revenue growth led by its incretin portfolio, Verzenio and Jardiance.
  • The new product category delivered $574 million in sales, while the new product and growth product categories together contributed 20 percentage points to volume increase.
  • We give Eli Lilly and Company a ‘Hold’ rating with a revised target price.

Comcast Corporation: Subscriber Growth Slowdown & Growing Peacock Losses Are Concerning – Key Drivers

By Baptista Research

  • Comcast Corporation started off with 2023 on a mixed note.
  • While its revenues and earnings were above Wall Street expectations, the total company revenue of $29.7 billion fell 4%.
  • We give Comcast Corporation a ‘Hold’ rating with a revised target price.

Etsy Inc.: Can It Really Outperform The Major Indices? – Key Drivers

By Baptista Research

  • Etsy reported another strong performance and kickstarted the year with an all-around beat.
  • With a roughly 11% increase in revenue to $641 million, the company’s adjusted EBITDA margin was once again very high at 26.6%.
  • Etsy also witnessed strong trends in apparel, particularly in personalized and pop culture-related tops, tees, hoodies, sweatshirts, bags, purses, and gift goods.

L3Harris Technologies Inc.: Launch of Next-Generation NTS-3 Satellite & Other Developments

By Baptista Research

  • It was a successful first quarter for L3Harris as they delivered an all-around beat while building momentum in orders and backlog.
  • The company saw top-line growth of 9% across all segments, along with improved operating income in two out of three segments.
  • They also reaffirmed their 2023 guidance, with a potential bias towards the higher end of the revenue range due to strong revenue growth and significant orders.

Keurig Dr Pepper Inc.: Does The Long-Term Growth Potential of Single-Serve Pod Business Make It A Buy? – Key Drivers

By Baptista Research

  • The last quarter proved to be a successful one for Keurig Dr Pepper.
  • Their U.S. refreshment beverages segment performed exceptionally well, with share gains in multiple categories and significant market share growth for brands like Dr.
  • Pepper.

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