US Weekly IPO and SPAC Monitor: Quiet August Start with Forza X1 FRZA. Magic Empire Global MEGL and Bruush BRSH

August is traditional a slow time in the market with European holidays, this year after the market crashing the IPO market is even quieter with just one IPO scheduled to price this week ahead. Electric boat developer Forza X1 FRZA plans to raise $15 million at a $50 million market cap. Other small deals may also join during the week. Last week two deals priced Hong Kong-based Magic Empire Global (MEGL) which grabbed some $HD mania and finished up 2325%. The other … Continue reading “US Weekly IPO and SPAC Monitor: Quiet August Start with Forza X1 FRZA. Magic Empire Global MEGL and Bruush BRSH”

Tyson Foods Chickens Came Home to Roost as Operating Margins Contract

Tyson Foods is a stock known for not missing earnings, in the Q3 (June), quarter it did. Adjusted operating margins tell the story as they contracted by 340 bps yr/yr to 7.4%. While consumer prices for beef, chicken, and pork boosted revenue the input costs more than offset the pricing benefits. TSN adjusted their prices given their products have a degree of price elasticity. TSN did reaffirm its FY22 revenue guidance of $52-54 billion as well as its adjusted operating … Continue reading “Tyson Foods Chickens Came Home to Roost as Operating Margins Contract”

SoftBank lost $23.4 Billion in Q2 with a Record Vision Fund $17.28 Billion Loss

The world’s largest technology investor Japan’s SoftBank announced Monday it lost $23.4 Billion in the second quarter. It was the company’s largest ever quarterly net loss with the company’s Vision Fund losing 2.33 trillion yen ($17.28B) in Q2. With the Nasdaq Composite down 22.4% for the second quarter and -29.5% for the year the results were expected. Tiger Global Management flagship hedge fund was down 50% in the first half of the year and Cathie Wood’s Ark Innovation ETF was down more than 57% … Continue reading “SoftBank lost $23.4 Billion in Q2 with a Record Vision Fund $17.28 Billion Loss”

Ford Motor Crushes Earnings, Hikes Dividend Raising Guidance

Ford Motor reported better than expected second quarter earnings after the close Wednesday. $F stick soared after the automaker reaffirmed its 2022 outlook and hiked the Ford stock dividend. Strong demand for both the traditional combustion and new electric vehicles overcame supply and inflation headwinds. Ford made an operating profit of $3.7 billion from $40.2 billion in sales. Wall Street was looking for an operating profit of $2.6 billion from sales of $34.8 billion. Earnings Ford Second Quarter 2022 Earnings … Continue reading “Ford Motor Crushes Earnings, Hikes Dividend Raising Guidance”

World’s Top Chipmaker Samsung Reports Highest Second Quarter Profit Since 2018

Samsung Electronics reported second quarter earnings with a 12% rise on Thursday on solid sales of server memory chips. However, the company warned mobile and PC chip demand would continue to weaken as macroeconomic uncertainties persist. Samsung Electronics overtook Intel as the top semiconductor maker in Q3 last year. Operating profit rose to 14.1 trillion won ($10.8 billion) for the quarter from 12.57 trillion won a year earlier, its highest second-quarter profit since 2018. Samsung’s revenue rose 21% to 77.2 … Continue reading “World’s Top Chipmaker Samsung Reports Highest Second Quarter Profit Since 2018”

Market Savages Unity Software Merger with App-Monetization Platform Provider ironSource

Unity Software has agreed to an all-stock merger deal, valuing ironSource at roughly $4.4 bln, a 74% premium to the 30-day average exchange ratio, ironSource $IS was up 51% from the previous day close, though still trades around 75% below record highs set in September. Unity is trading at 8x forward sales, the company operates in priced-to-perfection territory given the current rising-rate environment. The market took harshly to the deal knocking $U down -17% to near the all-time lows seen … Continue reading “Market Savages Unity Software Merger with App-Monetization Platform Provider ironSource”

Levi Strauss Earnings Watch, Market Share Gains Boosting Apparel Margins

Iconic American blue jean maker Levi Strauss & Co. reports second quarter earnings after the market closes on Thursday, July 7th. $LEVI posted improved earnings and revenue for the first quarter ended in February. Levi Strauss has benefited from growth in its direct-to-consumer and e-commerce businesses, though it has had to confront inflation and supply chain constraints. Analysts are projecting revenue of $1.43Billion and EPS of $0.23. Earnings Preview Levi Strauss & Co. NYSE: LEVI Report Earnings After Close Thursday … Continue reading “Levi Strauss Earnings Watch, Market Share Gains Boosting Apparel Margins”

RV Maker Winnebago Profits Top Estimates in the Face of Record Gasoline Prices

Leading RV maker Winnebago reported better than expected third quarter (May) earnings on Tuesday before the bell. Earlier in the month Thor Industries, $WGO’s top competitor also reported solid earnings and revenue in its report. While conditions are unfavorable with rising interest rates raising the cost to finance an expensive RV purchase and record-high gas prices increasing the cost to operate an RV. Supply chain shortages hampered production and delivery. However there does appear to be a new generation of … Continue reading “RV Maker Winnebago Profits Top Estimates in the Face of Record Gasoline Prices”

Snap Crashes Another 30% After Warns Again as Supply Chain, Digital Advertising Apple Worsens

U.S. social networking company Snap only reported earnings a month ago but, in that time, things have gotten dramatically worse, hopes of decent growth has disappeared. The maker of the vanishing-message app Snapchat on Monday warned, lowering its earnings and revenue expectations for the June quarter, citing a rapidly slowing economy. $Snap fell to 16.10 -6.37 (-28.35%) premarket trading, the stock was down 52% YTD before this announcement. SNAP will also slow hiring and postpone some planned staff additions until … Continue reading “Snap Crashes Another 30% After Warns Again as Supply Chain, Digital Advertising Apple Worsens”

Zoom Video Raises Earnings Guidance as it Adjusts to Lower Stay at Home Demand and Inflation

Leading video conferencing software company Zoom Video Communications reported better than expected fiscal first-quarter earnings Monday. $ZM also gave positive guidance which sent the shares sharply higher by more than 19% in after-hours trading. For perspective prior to Monday’s earning’s report, Zoom shares had lost about 85% of their value since peaking in October 2020. The stock has fallen since the stay at home market reverted, the aborted Five9 transaction and the collapse of the manic tech bubble.  Zoom Video … Continue reading “Zoom Video Raises Earnings Guidance as it Adjusts to Lower Stay at Home Demand and Inflation”