In today’s briefing:
- Snap 3Q22: Tik Tik Tik (Tok) …BOOM
- Bumble Inc.: New Feature Additions & Other Developments
- Cleveland-Cliffs Inc: Labor Agreement & Other Developments
- Textron Inc: New Product Launches & Other Developments
Snap 3Q22: Tik Tik Tik (Tok) …BOOM
- How long until SNAP gets back to Zuck’s original $3B buyout offer?!
- Key negative point: US engagement dropped 5% despite user growth +4%…we think its BeReal as much as TikTok.
- Uninvestable or Long Time Horizon? Least visibility of any major public company we’ve ever followed. Don’t know the answer!
Bumble Inc.: New Feature Additions & Other Developments
- Bumble delivered a mixed set of results for the past quarter surpassing Wall Street expectations on the revenue front but missing out on earinings.
- The Bumble app continued to grow as the company performed well in traditional as well as international growth markets.
- In the quarter, Bumble brought a wide portfolio of discovery-oriented products to the market.
Cleveland-Cliffs Inc: Labor Agreement & Other Developments
- With Cleveland-Cliffs’ results just around the corner, it is to be seen how the management has progressed with their execution in terms of profitability and their attempts towards free cash-flow-driven reduction in debt.
- However, higher costs and inflation led to a drop in margins and it had missed out on earnings.
- The gross inventory values in terms of the working capital increased in the last quarter because of higher costs, and the overall steel inventory volumes decreased.
Textron Inc: New Product Launches & Other Developments
- Textron has its results just around the corner and there is a good chance that the company may deliver an all-around beat.
- It had a solid previous quarter with strong execution and higher revenues that resulted in segment profit margin.
- On the innovation front, Textron delivered the foremost Cessna SkyCourier to its launch customer FedEx and the foremost XLS Gen2 aircraft.
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