reports
- Research Department
INFORME DIARIO 03 MAYO + RDOS. ESPAÑA Y EUROPA 1T’24. IDEAS DESTACADAS...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACERINOX, IBERDROLA. EUROPA: AXA, LINDE, SOCIÉTE GÉNÉRALE. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 1T’24 que se publicarán en España y Europa en los próximos días. Dudas en el mercado a pesar de una Fed complaciente A excepción del Ibex y FTSE 100, jornada en rojo en las principales bolsas europeas c...
Del Taco Opens Eighth Location in the Sunshine State
Del Taco Opens Eighth Location in the Sunshine State The leading Mexican QSR chain continues its Florida Panhandle expansion with a new location in DeFuniak Springs DEFUNIAK SPRINGS, Fla., May 02, 2024 (GLOBE NEWSWIRE) -- , the nation’s second-largest Mexican quick service restaurant*, announced today the opening of its new Fresh Flex location at 2760 S. Hwy 331. It is the second restaurant for franchise organization, Consolidated Taco Holdings, and uses the all-new Fresh Flex layout, which features a bold, modernized design and innovative layout changes to optimize the guest experienc...
- Jan Frederik Slijkerman
- Jeroen van den Broek
- Jesse Norcross
- Nadège Tillier
- Timothy Rahill
Coffee, Croissants & Credit/Aroundtown, Public Storage and WP Carey
Real Estate - Aroundtown shows successful result of GBP & USD Hybrid exchange and tender. Public Storage 1Q24: Slightly softer but no real concerns for credit investors. WP Carey 1Q24: Slight miss, but strong cash balance and liquidity
- Wedbush Research
SIVB SVB FINANCIAL GROUP
USB U.S. BANCORP
ZION ZIONS BANCORPORATION N.A.
WTFC WINTRUST FINANCIAL CORPORATION
WING WINGSTOP INC.
WBS WEBSTER FINANCIAL CORPORATION
WAL WESTERN ALLIANCE BANCORP
VLY VALLEY NATIONAL BANCORP
TTWO TAKE-TWO INTERACTIVE SOFTWARE INC.
TCBI TEXAS CAPITAL BANCSHARES INC.
SBNY SIGNATURE BANK
RF REGIONS FINANCIAL CORPORATION
PZZA PAPA JOHN'S INTERNATIONAL INC.
PPBI PACIFIC PREMIER BANCORP INC.
PB PROSPERITY BANCSHARES INC.(R)
NYCB NEW YORK COMMUNITY BANCORP INC.
KEY KEYCORP
JACK JACK IN THE BOX INC.
HMST HOMESTREET INC.
HBAN HUNTINGTON BANCSHARES INCORPORATED
HAFC HANMI FINANCIAL CORPORATION
FRC FIRST REPUBLIC BANK
FITB FIFTH THIRD BANCORP
FHN FIRST HORIZON CORPORATION
FFWM FIRST FOUNDATION
EWBC EAST WEST BANCORP INC.
ETSY ETSY INC.
DIN DINE BRANDS GLOBAL INC.
CVBF CVB FINANCIAL CORP.
CUBI CUSTOMERS BANCORP INC.
CTSH COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION CLASS A
COLB COLUMBIA BANKING SYSTEM INC.
CHUY CHUY'S HOLDINGS INC.
CFG CITIZENS FINANCIAL GROUP INC.
CATY CATHAY GENERAL BANCORP
CAKE CHEESECAKE FACTORY INCORPORATED
BZH BEAZER HOMES USA INC.
BXP BOSTON PROPERTIES INC.
BKU BANKUNITED INC.
BANC BANC OF CALIFORNIA INCORPORATED
GRBK GREEN BRICK PARTNERS
CFR CULLEN/FROST BANKERS INC.
BOKF BOK FINANCIAL CORPORATION
CMA COMERICA INCORPORATED
EA ELECTRONIC ARTS INC.
SLM SLM CORP
TSC TRISTATE CAPITAL HOLDINGS INC
ZNGA ZYNGA INC. CLASS A
HOPE HOPE BANCORP INC.
CVNA CARVANA CO. CLASS A
FCNCA FIRST CITIZENS BANCSHARES INC. CLASS A
ZG ZILLOW GROUP INC. CLASS A
TENB TENABLE HOLDINGS
AX AXOS FINANCIAL INC.
UBER UBER TECHNOLOGIES INC.
LC LENDINGCLUB CORP
SI SILVERGATE CAPITAL
U UNITY SOFTWARE
DASH DOORDASH
SOFI SOFI TECHNOLOGIES INC
APP APPLOVIN CORP
NAPA DUCKHORN PORTFOLIO INC (THE)
BROS DUTCH BROS INC
CAVA CAVA GROUP INC
- Michael Symington
- Nick Setyan
Pool Corporation Announces an Increase in Its Share Repurchase Program...
Pool Corporation Announces an Increase in Its Share Repurchase Program, Growth of Its Quarterly Cash Dividend and 2024 Annual Meeting of Stockholders Voting Results COVINGTON, La., May 01, 2024 (GLOBE NEWSWIRE) -- Pool Corporation (Nasdaq/GSM:POOL) announced today that its Board of Directors (the Board) has authorized an increase in the company’s share repurchase program to $600.0 million. As of May 1, 2024, this adds $316.2 million to the $283.8 million remaining under its existing share repurchase program for the purchase of the company’s common stock in the open market at prevailing ma...
Sysco to Host 2024 Investor Day
Sysco to Host 2024 Investor Day HOUSTON, May 01, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE: SYY) today announced that it will host an investor day at the New York Stock Exchange (NYSE) on May 22, 2024, starting at approximately 9:00 a.m. Eastern Daylight Time and concluding at approximately 12:00 p.m. Eastern Daylight Time. Presentations will be made by Kevin Hourican, Chair of the Board and Chief Executive Officer, Kenny Cheung, EVP and Chief Financial Officer, and select members of the management team. In-person attendance is by invitation only. Please email the Investor Relati...
Flowers Foods to Report First Quarter 2024 Results
Flowers Foods to Report First Quarter 2024 Results Thomasville, Ga., April 30, 2024 (GLOBE NEWSWIRE) -- Flowers Foods, Inc. (NYSE: FLO) will report its first quarter 2024 financial results on Thursday, May 16, 2024, after market close. On the same day, the company will host a live question and answer webcast at 5:00 p.m. Eastern. Please note the change from our normal timing due to a scheduling conflict. A link to the webcast, press release, pre-recorded remarks by management with accompanying transcript, and supporting slide presentation will be posted at . A replay will be available a...
Sysco Reports Third Quarter Operating Income and EPS Growth
Sysco Reports Third Quarter Operating Income and EPS Growth HOUSTON, April 30, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE: SYY) (“Sysco” or the “company”) today announced financial results for its 13-week third fiscal quarter ended March 30, 2024. Key financial results for the third quarter of fiscal year 2024 include the following (comparisons are to the same period in fiscal year 2023): Sales increased 2.7%; U.S. Foodservice volume increased 2.9%; U.S. local volumes grew 0.4%;Gross profit increased 5.2% to $3.6 billion;Operating income increased 3.8% to $722.0 million, and adjus...
Sysco Announces CEO Kevin Hourican Has Been Appointed Chair of the Boa...
Sysco Announces CEO Kevin Hourican Has Been Appointed Chair of the Board and Chief Executive Officer Ed Shirley Steps Down Larry Glasscock Appointed Lead Independent Director HOUSTON, April 30, 2024 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE: SYY), the leading global foodservice distribution company, today announced that the Board has appointed President and Chief Executive Officer Kevin Hourican to Chair of the Board of Directors. Edward D. Shirley has stepped down from his position as Chairman of the Board due to personal health reasons. Effectively immediately, Mr. Hourican will ser...
Pool Corporation to Present at the Oppenheimer 19th Annual Industrial ...
Pool Corporation to Present at the Oppenheimer 19th Annual Industrial Growth Conference COVINGTON, La., April 29, 2024 (GLOBE NEWSWIRE) -- Pool Corporation (Nasdaq:POOL) announced today that Melanie M. Hart, Vice President and Chief Financial Officer, will be participating in the Oppenheimer 19th Annual Industrial Growth Conference. A virtual presentation will be given on Monday, May 6, 2024, at 12:45 p.m. Eastern Time. Informational materials used during the conference will be posted on the Investor Relations section of POOLCORP’s website. Pool Corporation is the world’s largest whole...
Comcast Announces New Xfinity Military Discount Program and $1 Million...
PHILADELPHIA--(BUSINESS WIRE)-- Today, Comcast Corporation built on its long-standing commitment to veterans, service members, and their families with the introduction of several new initiatives. Timed with National Military Appreciation Month, the company unveiled “The Aviators,” an epic advertising campaign directed by Oscar winner Kathryn Bigelow, launched a new Xfinity Military discount program, and committed to invest more than $1 million in nonprofits that serve the military community in 2024. This press release features multimedia. View the full release here: For National Military Appr...
- Blair Levin
NSR Policy: The Interconnections of ACP, Spectrum, Title II, and the S...
In this weekend update, we reconsider our initial takes on several events last week and how they could be affected by events this week. Specifically, we look at the interplay of the FCC’s Title II Order, the Second Circuit opinion upholding New York State’s mandate for ISPs to offer low-income households a low-cost broadband offering, Senator Cantwell’s draft spectrum bill, and how all are affected by the end of ACP funding in the next few weeks.
- Wedbush Research
UDR UDR INC.
TSLA TESLA INC
MGPI MGP INGREDIENTS INC.
MAA MID-AMERICA APARTMENT COMMUNITIES INC.
IMAX IMAX CORPORATION
ESS ESSEX PROPERTY TRUST INC.
EQR EQUITY RESIDENTIAL
CPT CAMDEN PROPERTY TRUST
AVB AVALONBAY COMMUNITIES INC.
AMC AMC ENTERTAINMENT HOLDINGS INC. CLASS A
- Jay Kornreich
- Richard Anderson
- Jonathan Chaplin
Charter Model Update
This note focuses mostly on model changes. Please see separate notes reviewing results and on thoughts following the earnings call. We lowered broadband adds, revenue and EBITDA. We also expect leverage to approach 4.25x by the end of the year. This likely rules out further repurchases this year, unless EBITDA is stronger than we expect. No change to thesis, though we expect Broadband stocks to be challenged for at least next few quarters. Price target is $431 (+69%).
- Jonathan Chaplin
CHTR: quick thoughts following the call
What's new: in this note we cover the change to leverage and what it means for management’s confidence in the business, our evolving thoughts on broadband market growth, our outlook for 2Q24 for broadband adds, ARPU, and EBITDA, and thoughts on long-term pricing strategy.
- Jonathan Chaplin
CHTR 1Q24 Quick Take: Financial results in-line; subscribers soft
What's new: Revenue and EBITDA in-line; FCF low due to working capital drag (timing); subscriber metrics worse than expected. Leverage down very slightly, as expected. Investors will be very focused on what management says about leverage targets on the call. We don’t have a lot to add on results, at this stage. We touch briefly on the following: Broadband market growth Charter's broadband growth Broadband ARPU growth EBITDA growth FCF and Leverage Lumos overhang
- Jonathan Chaplin
Comcast Model Update
What’s new: In this note, we cover changes to our estimates, and comparisons with guidance and consensus. Please see separate notes reviewing results and thoughts following the earnings call. We lowered broadband adds, revenue and EBITDA. No change to thesis, though we expect Broadband stocks to be challenged for next few quarters. Price target is $51 (+34%).
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