Today is Friday, September 2, 2022.
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Broadcom's "Robust Demand"
Shares of Broadcom (Nasdaq: AVGO) grew 1.88% in after-hours trading on Thursday after the semiconductor company posted positive financial earnings.
Financials: Broadcom reported earnings of $9.73 per share and revenue of $8.46 billion; both were better than expected.
Strong Growth: Revenue jumped 25% in the quarter and operating profits increased 32%.
Quote: “Broadcom's record third quarter results were driven by robust demand across cloud, service providers, and enterprise,” - Hock Tan, president and CEO of Broadcom.
Outlook: The company sees revenue in the fourth quarter growing 20% year-over-year. Sales in data centers, broadband, and wireless look promising.
Stock Price: Broadcom’s stock is down 25% in 2022. The stock hit an all-time high at the end of 2021.
Final Thoughts: These are good results for Broadcom, but can investors really trust the volatile chip market in 2022?
Notable Earnings Today: N/A.
Notable IPOs Today: N/A.
Notable Equity Crowdfunding Campaigns Ending Today: The Distillery at South Shore (Honeycomb).
Notable Economic Events Today: Unemployment Rate (8:30 a.m. ET), Nonfarm Payrolls (8:30 a.m. ET), Labor-Force Participation Rate (8:30 a.m. ET), Average Hourly Earnings (8:30 a.m. ET), Factory Orders (10:00 a.m. ET).
Lululemon’s Revenue Growth
Shares of Lululemon Athletica (Nasdaq: LULU) jumped 9.73% in after-hours trading on Thursday after the apparel retailer posted positive financial earnings.
Financials: Lululemon reported earnings of $2.20 per share and revenue of $1.87 billion; both were better than expected.
Growth: During the quarter, net revenue increased 29%, total comparable sales increased 23% and comparable store sales increased 16%.
Not So Direct: Direct-to-consumer net revenue represented 42% of net revenue this quarter, up from 41% last time, which shows some slowdown in growth.
Stock Price: Lululemon’s stock is down 24% in 2022. The stock hit an all-time high in November 2021.
Final Thoughts: This is one of those stocks that did well in the pandemic and is trying to recapture that magic. The company’s core affluent consumer base has been loyal so far, but will that continue?
Equity Crowdfunding Spotlight: Rize Modular
Briefly describe your business. Rize Modular is an environmental conscience and technology-based offsite construction company creating an end-to-end platform to design, build and deliver modular multi-family, affordable housing structures at scale.
What are the terms of the investment for your campaign? Reg CF Common Share Offering, $6.76 per share, $243.36 minimum investment, up to $1.07M Offering Max, $100M pre-money valuation, various bonuses based on StartEngine membership, the amount invested, and timing.
What makes your startup special? The Rize senior leadership team brings a combined experience of over 100 years in volumetric modular construction, which will disrupt all segments of offsite construction. Rize has a very robust pipeline of over 20 projects.
Trends to Watch
A Latte Of Big News: Starbucks names new CEO (CNN)
Gassed Out: Exxon confirms sale of stake in Aera oil producing joint venture (U.S. News & World Report)
Total Recall: GM’s Cruise recalls and updates self-driving software in cars following crash (CNBC)
Buy the Dip: Bitcoin Traders’ Outlook Is So Bleak That Some Analysts See Buying Opportunity (CoinDesk)
There's Always a Catch: Twitter made an edit button, but you’ll have to pay to use it` (Engadget)
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