Notes
QUICK MARKET SUMMARY:
CONSUMER:
🔸 GameStop ( $GME): Q4 EPS $0.30 vs est. $0.08; sales $1.28B (miss); adding Bitcoin to treasury.
🔸 Tesla ( $TSLA): Hosting launch event in Saudi Arabia on April 10.
🔸 Advance Auto Parts ( $AAP): Finished store closures; plans 30 new US stores in 2025, 100+ by 2027.
🔸 https://t.co/mNJtOGZiLg ( $PRTS): Q4 loss -$0.71 vs -$0.15 y/y; sales -15% to $133.5M; no 2025 guidance, exploring strategic options.
🔸 Dollar Tree ( $DLTR): Selling Family Dollar for $1.007B; Q4 adj. EPS $2.11 (miss), sales -42% to $4.99B; guides Q1 sales $4.5–$4.6B.
ENERGY/INDUSTRIALS/MATERIALS:
🔸 Compass Minerals ( $CMP): Cutting 10% of workforce, ending fire retardant biz; expects $11M–$13M cost savings.
🔸 Glencore (GLNCY): Declared force majeure on Chilean copper shipments.
🔸 JinkoSolar ( $JKS): Q4 loss -$0.32; sales -3.9% to $2.83B; Q1 module shipments guided at 16–18 GW.
🔸 Phillips 66 ( $PSX): Adding two board directors amid proxy fight with Elliott.
🔸 Range Resources ( $RRC): Upgraded to Equal Weight at Morgan Stanley.
🔸 Westlake Chemical ( $WLK): Downgraded to Neutral at Piper; target cut to $120.
🔸 Worthington ( $WOR): Q3 EPS $0.79 (beat); revs -4% to $304.5M; EBITDA up 10%.
🔸 US copper import tariffs may come in weeks (Bloomberg).
FINANCIALS:
🔸 Invesco Mortgage ( $IVR): Cuts dividend to $0.34 from $0.40.
🔸 PaySign ( $PAYS): Q4 EPS $0.02; guides FY revenue $68.5M–$70M.
HEALTHCARE:
🔸 Corvus Pharma ( $CRVS): Q4 loss -$0.18; cash runway into Q1 2026.
🔸 Guardant Health ( $GH): VA now covers Shield blood test for colorectal cancer screening.
🔸 Verastem ( $VSTM): Will present data at AACR 2025 in Chicago.
TECH/MEDIA/TELECOM:
🔸 Apple ( $AAPL): iPhone 16 available in Indonesia April 11.
🔸 GCT Semiconductor ( $GCTS): Q4 net loss $5M on $1.8M sales.
🔸 Qualcomm ( $QCOM): Filed antitrust complaints against Arm in US, EU, Korea.
#Upgrades - Oct 02, 2024
$PARR: JPMorgan Upgrades to Overweight from Neutral - PT $30 (from $36)
$CVBF: KBW Upgrades to Outperform from Market Perform - PT $22 (from $20)
$TMP: KBW Upgrades to Outperform from Market Perform - PT $68 (from $59)
$BOH: KBW Upgrades to Market Perform from Underperform - PT $67 (from $60)
$HAFC: KBW Upgrades to Outperform from Market Perform - PT $22 (from $20)
$TOWN: KBW Upgrades to Outperform from Market Perform - PT $40 (from $35)
$RIO: Berenberg Upgrades to Buy from Hold - PT $79 (from $71)
$MTB: Evercore Upgrades to Outperform from In Line - PT $210 (from $187)
$HD: Gordon Haskett Upgrades to Buy from Accumulate - PT $450
$BAH: JPMorgan Upgrades to Overweight from Neutral - PT $170 (from $150)
$SAIC: JPMorgan Upgrades to Overweight from Neutral - PT $170 (from $150)
$FANG: Barclays Upgrades to Overweight from Equalweight - PT $210
$RRC: Barclays Upgrades to Equalweight from Underweight - PT $34
$DQ: HSBC Upgrades to Buy from Hold - PT $29.30
$SPHR: Wolfe Research Upgrades to Outperform from Peerperform - PT $60
$ULTA: UBS Upgrades to Buy from - PT $505
$CRM: Northland Upgrades to Outperform from Market Perform - PT $400