CM – Top US stocks in focus: Tesla, Hasbro and Lockheed Martin

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Joshua Warner
July 26, 2021 1:35 p.m.

Tesla is making headlines in its earnings calendar today and will publish its second quarter results after the market closes, with analysts expecting significant growth in sales and earnings.

As with any automaker in the current environment, dealers will be interested in an update on how Tesla is dealing with the global semiconductor chip scarcity that has thrown many of its competitors off course. Initial signs suggest that Tesla has overcome the chip shortage well. The company reported earlier this month that it shipped 201,250 cars to customers in the quarter. Nonetheless, the company’s outlook for continued production will be an important non-financial metric to monitor.

Consensus shows that analysts see revenue of $ 11.47 billion, adjusted EPS of $ 0 Expect $ .93 and GAAP EPS of $ 0.53.

The toy manufacturer Hasbro posted excellent sales and earnings growth in the second quarter and is confident of achieving double-digit sales growth this year as well.

Revenue rose 54% to $ 1.32 billion, well above analysts’ $ 1.16 billion. Adjusted net earnings per share rose to $ 1.05 from just $ 0.02 a year ago. In particular, sales of consumer goods rose 33% and the entertainment segment, which includes companies like Peppa Pig, rose 47%. The biggest improvement came from its digital games business, which jumped from just $ 186.7 million last year to $ 406.3 million.

“Wizards continued to deliver excellent results with a compelling analog and digital release schedule for MAGIC: THE GATHERING. Consumer product sales increased as demand for Hasbro toys and games remained robust and entertainment sales increased as we produce entertainment with strong deliveries, ”said Brian Goldner, Chairman and CEO of Hasbro.

Lockheed Martin saw revenue and earnings growth in the second quarter, but narrowly missed expectations due to a heavy burden of “performance issues” in its aerospace division – the largest in the industry.

Net sales increased to $ 17.00 billion from $ 16.2 billion last year and net income increased to $ 6.52 from $ 5.79 last year. That included a loss of $ 225 million from a failed classified project in the aviation industry. Without that loss, earnings per share would have been approximately $ 7.13. Analysts had expected earnings per share of USD 6.53.

The weapons and defense company left its full-year revenue guidance unchanged at $ 67.3 billion to $ 68.7 billion, but raised its EPS target from $ 26.40 to 26.70 $ 26.70 to $ 27.00.

Tobacco giant Philip Morris has set a very ambitious goal to end all cigarettes in the UK within the next 10 years, demonstrating its confidence in its next generation products, e-cigarettes and heated tobacco pens.

Chief Executive Officer Jacek Olczak told the Daily Mail that the iconic Marlboro brand would be phased out in the country. In particular, the goal is roughly in line with the country’s plan to become « smoke-free » by 2030.

Insurance brokers Aon and Willis Towers Watson abandoned plans to complete a $ 30 billion merger agreed in March because the couple saw no way to convince US officials.

« Despite regulatory dynamism around the world, including the recent approval of our merger by the European Commission, we have reached an impasse with the US Department of Justice, » said a statement by the two. “The DOJ’s position overlooks the fact that our complementary businesses operate in broad, competitive areas of the economy. We are confident that the merger would have accelerated our collective innovation on behalf of our customers, but the inability to achieve an accelerated dispute resolution brought us to this point. ”The DoJ took action and argued back in June that the deal would lead to less competition and possibly higher prices. As a result, Aon has to pay Willis Towers $ 1 billion in termination fees.

PerkinElmer, the maker of detection, imaging and computing devices for scientific research, announced its largest acquisition to date and plans to purchase antibody and reagent leader BioLegend for 5.25 billion.

The company said that the deal will be finalized by the end of the year. BioLegend is expected to have annual sales of $ 380 million in 2022, and PerkinElmer plans to expand its existing life science franchise into new segments upon closing.

The news came as PerkinElmer reported a 51% increase in sales to $ 1.22 billion on organic growth of 41%. Adjusted earnings per share increased from $ 1.57 to $ 2.83. PerkinElmer expects third quarter revenue of $ 1.0 billion and adjusted earnings per share of $ 1.62. For the full year it is targeting adjusted sales of $ 4.57 billion and adjusted earnings per share of $ 9.88.

Chip giant Taiwan Semiconductor Manufacturing Co (TSMC) said it was still considering whether to set up production sites in Germany was feasible, but said the idea was still in a « very early stage ».

The European Commission has spoken to companies such as TSMC and other chip manufacturers such as Intel about setting up semiconductor factories in Europe in view of the global supply shortage. TSMC signaled earlier this year that it would like to expand in the US and Japan to diversify from Taiwan.

« We are currently seriously examining Germany, but it is still at a very early stage, » said TSMC Chairman Mark Liu at the company’s annual general meeting. « We continue to communicate with our major customers in Germany whether this is most important and most effective for our customers. »

The European airline Ryanair has indicated that it is ready this year for a large order for some of the MAX 10 aircraft to be awarded by Boeing, but only if the price is right.

Ryanair is Boeing’s largest customer in Europe and released its quarterly results today. CFO Neil Sorahan said Ryanair could try to place the order « maybe at the end of the year » but said it « all depends on the price ».

New aircraft would only be delivered after the end of fiscal year 2026, when existing orders end. Any order would give Boeing and its MAX aircraft a boost, which had previously been suspended due to safety concerns after two fatal crashes.

Chinese education stocks fell sharply on Friday after China announced it would ban for-profit corporations from tutoring core subjects in an effort to reduce the cost of raising families and encourage them to have more children.

The news is disastrous for the industry, as evidenced by the fact that TAL Education has lost over 70% of its value since the news broke, while New Oriental Education has lost around two-thirds of its value. Both stocks warned over the weekend that the development would hurt their businesses.

The language learning app Duolingo raised its price target before going public, signaling a strong appetite for the share.

It said it plans to sell 5.1 million shares between $ 95 and $ 100, ahead of the previous range of $ 85 to $ 95. At the higher end of that range, Duolingo could raise up to $ 511 million and have a valuation of over $ 4.6 billion. In particular, approximately 1.4 million of these shares will be sold by existing investors.

The Singaporean real estate portal PropertyGuru will go public through the merger with SPAC Bridgetown 2 Holdings in a deal valued at around $ 1.78 billion.

The transaction is expected to raise approximately $ 431 million for the combined company, which will be listed on the NYSE. PropertyGuru operates primarily in Singapore, but has also spread to other parts of Asia including Vietnam, Indonesia, Malaysia and Thailand. Bloomberg reported that it is the third largest real estate marketplace in all of Southeast Asia.

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