Daily Brief United States: Micron Technology, Axon Enterprise , S&P Global Tokenized Stock (Ondo), Exxon Mobil, Crude Oil, Baillie Gifford US Growth Trust, The Walt Disney Co, Culp Inc, Uber Technologies and more

• Micron delivered a blowout Q4, with $11.3B revenue and $3.03 EPS, led by DRAM’s 27% QoQ growth and an HBM3E run-rate nearing $8B.
• Data centre accounted for 56% of FY2025 sales, driven by LPDDR5 shipments for Nvidia’s GB chips and early HBM4 sampling.
• Management sees 2026 as a tight DRAM supply environment by design, with slower node transitions and deliberate capacity discipline supporting pricing.

• Axon Enterprise, best known for its Tasers, body-worn cameras, and cloud-based evidence management tools, has made headlines yet again.
• The company announced it will acquire Prepared, a U.S.-based emergency communications platform that integrates 911 call data across audio, video, GPS, text, and translation tools into one unified interface.
• Though Axon has not disclosed the official price, media outlets suggest a range of $800 million to $900 million.

• Tokenized Stocks Show Strong On-Chain Supply Growth: The tokenized stocks on-chain market value (ex-EXOD) has grown to an estimated $127M, up 14x YTD (as of 6 Sep 2025; $342M inclusive of EXOD), driven by the launch of Backed’s xStocks and Ondo Global Markets.
• Are Tokenized Stocks Real Stocks? The two main stock tokenization models are synthetic structure and native issuance.
• Both provide exposure to the return of the underlying stock, but native issuance aims to give investors true ownership rights.

• Global oil majors are slashing jobs and investments as weak demand, OPEC+ supply hikes, and rising costs drive the sharpest industry retrenchment since the 2020 collapse.
• U.S. producers face added strain from tariffs, cost inflation, and consolidation, forcing capex cuts, layoffs, and highlighting the slowdown of shale-driven growth that once powered record output.
• ExxonMobil emerges strongest among peers, supported by low debt, robust free cash flow, advantaged low-cost assets, and global diversification, giving it unmatched resilience in a prolonged low-price environment.

• Crude futures steadied Friday as oil headed for the strongest weekly gains since June, coming amid disruptions to Russian fuel supplies and heightened tensions between Moscow and NATO.
• Front-month Nov25 ICE Brent futures were trading at $69.53/b (0925 BST) versus Thursday’s settle of $69.42/b, while Nov25 NYMEX WTI was at $65.17/b against a previous close of $64.98/b.
• Fuel shortages in Russia have forced Moscow to extend the ban on gasoline exports and restrict overseas diesel sales.

Baillie Gifford US Growth Trust (USA) invests in exceptional US businesses with the potential to grow substantially faster than the market and deliver above-market returns. The company’s recent performance has been strong. The portfolio returned an impressive 31.6% in NAV terms and 37.6% on a share price basis in the year to 31 August 2025, well ahead of the benchmark return of 12.7%. However, USA’s managers are disappointed in its performance over three and five years, which was affected by the surge in growth stocks in 2020 and their subsequent sharp re-rating as interest rates rose in 2022. In response, the managers have implemented several portfolio construction ‘enhancements and guide rails’ to limit the adverse performance impact of future volatility. USA’s managers are confident about its outlook as they believe AI is generating exciting investment opportunities across the market. The trust is invested in a variety of companies focused on space travel, entertainment and online retail and business services. The managers expect these innovative and adaptable businesses to realise the outsized returns they are targeting as they develop into the mega caps of tomorrow.

Key points (machine generated)

• Disney has strong brand recognition and diverse content, indicating potential for growth.
• Challenges include increased competition, changing consumer preferences, and economic uncertainties.
• Stakeholders should be optimistic yet cautious about Disney’s future in the evolving entertainment landscape.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Culp reported 1QFY26 GAAP EPS of ($0.02) versus ($0.58) in 1QFY25.
• Adjusting for one-time items, including a $4.0MM gain on the sale of property in Canada in 1QFY26, we estimate that ongoing EPS was ($0.30) versus ($0.36) in 1QFY25; management does not provide an adjusted EPS number.
• Please note with this report, we are assuming coverage of Culp, Inc.

Key points (machine generated)

• Uber has experienced over 50% year-to-date growth and has significant potential for future returns.
• The company connects drivers and riders, merchants and customers, and shippers and carriers, serving over 170 million monthly active users.
• Strategic initiatives like service integration, new product introductions, and effective pricing are expected to enhance growth and profitability.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.