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11-12-2023

TECH

• HubSpot, Inc. released its Q3 2023 earnings report, with a transcript published by Seeking Alpha’s transcripts team.

• China’s Singles Day sales festival saw positive sales growth for Alibaba and JD.com, but exact revenue numbers were undisclosed. Discounts of 40-50% were common.

• The Russian digital ministry intends to block VPN services and protocols considered a security risk.

• Model N, Inc. missed Q4 earnings expectations with $0.01619 EPS and reported 20% YoY growth in SaaS ARR. Intapp Inc. had a strong Q1 with cloud ARR of $242.5 million, up 38% YoY. Research Solutions Inc. achieved record ARR of $11 million and 16% revenue growth in Q1 2024, and acquired Resolute data AI.

• Nvidia and Qualcomm plan to enter the CPU market with Arm’s technology, posing a potential threat to Intel’s dominance.

• U.S. restrictions on selling AI chips to China have led to a game of “catch me if you can” with Nvidia, boosting Chinese innovation.

• Bechtle AG sees 6% growth in Q3 2023 due to public sector demand and an 18% increase in orders. Stock decline doesn’t deter optimism.

MEDIA

• Actors in the SAG-AFTRA union have ended their strike after approving a tentative deal with Hollywood studios. The deal includes wage increases, streaming bonuses, and AI protections.

• Gotham FC defeats OL Reign 2-1 to win their first NWSL Championship title, with Esther Gonzalez scoring the game-winning goal despite Megan Rapinoe’s early injury.

• Manchester United beat Luton Town 1-0 in the Premier League, thanks to a winning goal by Victor Lindelof.

• Former President Donald Trump is requesting televised coverage of his federal election trial, claiming unfair treatment and political motivation.

• Alex Ovechkin scores two goals as the Washington Capitals win 4-1 against the New York Islanders, bringing him closer to Wayne Gretzky’s record.

• Louisiana must create a new congressional map by January 15th, 2023, after a federal court found the current map discriminates against Black voters.

• Hollywood strikes caused unemployment, evictions, and mental health issues for hundreds of thousands of U.S. and Canadian film crew workers.

• Liberty Latin America had a strong Q3 with 44,000 new subscribers and a 10% increase in adjusted OIBDA, but revenues shrank.

• BFI Southbank in London presents an exhibition celebrating the 75th anniversary of ballet drama ”The Red Shoes.”

CONSUMER

• Shiseido and Kao Corporation report decreased net sales in Q3 2023, implementing structural reforms for profitability. Nikon and CION Investment Corporation release Q3 earnings. Eisai provides Q2 update.

• Riverstone Holdings, H C Slingsby, HomeChoice International, Whitbread, and PZ Cussons have all shown lower return on capital employed (ROCE) compared to industry averages.

• Soho House & Co Inc. had a strong Q3 2023, with total membership reaching 185,000 and revenues growing 13% YoY to $301 million. Adjusted EBITDA increased by 108% YoY to $42 million.

• Major retailers like Target and Walmart will be open on Veterans Day 2023, while banks and post offices will be closed.

• Alison and Mike Battle left their jobs to create Lapland U.K., the largest Christmas grotto in the UK, projected to earn $30 million this year.

• Helen of Troy stock (HELE) outperforms S&P 500 with a 1.92% gain, but drops 12.44% in the last month.

REAL ESTATE

• D.R. Horton reports a 39% increase in net sales orders, beats expectations on earnings and revenue, and focuses on affordable homes.

• Legacy Housing Corporation saw a 24% decrease in product sales, amounting to $11.7 million, in Q3 2023 compared to the previous year. Additionally, the company reported an increase in net income and closed a new revolving credit facility.

• Bridge Investment Group Holdings Inc. (BRDG) has a low price-to-sales ratio and poor revenue performance, raising concerns about future growth. BRC Inc. (BRCC) has a low price-to-sales ratio, but strong revenue growth and a positive future outlook.

• Bacone College faces a sheriff’s sale on December 14 due to a breach of contract lawsuit by MHEC, LLC.

TRAVEL

• Luxury travel company Inspirato reported impressive Q3 2023 earnings, emphasizing its focus on exceptional travel experiences and customer value.

ECONOMIC

• US House Speaker proposes Republican stopgap spending measure to prevent government shutdown, facing opposition from lawmakers and Democrats.

• Hanesbrands, Cogent Communications, Sientra, and Genworth Financial all reported Q3 2023 earnings below expectations. Genworth Financial presented its results on the NYSE.

• Moody’s changes US Government debt outlook to negative due to increased fiscal risks, political dysfunction, and declining debt affordability.

• Warning signs of a potential recession include rising credit card balances, reduced earnings expectations, weakening employment data, and slowing consumer spending.

• Individual investors are the majority shareholders in PSI Software SE, Sika AG, and Smartgroup Corporation Ltd, with ownership ranging from 40% to 55%. Institutions own a smaller percentage.

CRYPTO

• FTX has filed a lawsuit against Bybit, accusing it of using VIP status to withdraw hundreds of millions during FTX’s collapse, seeking to recover $953 million.

• Bitcoin’s price could surge to $50,000 to $55,000, BTC futures hit a record high of $17 billion, and a four-week rally brings it close to an 18-month high of $38,000.

HEALTH

• Novo Nordisk’s obesity treatment, Wegovy, has heart protective benefits beyond weight loss, reducing the risk of cardiovascular events by 20%.

• GN Store Nord A/S, H. Lundbeck A/S, and Brenntag SE reported their Q3 2023 earnings, with details available on Seeking Alpha. H. Lundbeck A/S reported strong revenue growth driven by strategic brands. Brenntag SE reported a decline in sales and profits but expects stable business conditions.

SPORTS

• The Toronto Maple Leafs won against the Vancouver Canucks and Calgary Flames, with Noah Gregor and William Nylander making key contributions.

• Mitchell Marsh’s unbeaten 177 helps Australia win against Bangladesh, India and England choose to bat in their final group matches.

• Caleb Love’s late free throws secure a 78-73 win for No. 12 Arizona over No. 2 Duke in a close game.