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Janney starts Enovix with Buy after earnings sellofff 07:42 ENVX Janney Montgomery Scott analyst Sean Milligan initiated coverage of Enovix with a Buy rating and $23 fair value estimate. The analyst views the more than 40% selloff in the shares since the Q3 earnings conference call on Tuesday as a buying opportunity. Enovix has designed and validated a 100% silicon anode lithium-ion battery cell that is five years ahead of the conventional li-ion energy density curve, and is progressing with its manufacturing scale-up to support a targeted $1B revenue run-rate aimed at a $13B total addressable market in the consumer electronics sector, Milligan tells investors in a research note.

Aehr Test Systems receives over $4M in orders for FOX WaferPak 07:32 AEHR Aehr Test Systems announced it has received $4.4M in orders from its lead silicon carbide test and burn-in customer for multiple WaferPak full wafer Contactors to meet their increased production capacity needs for silicon carbide power semiconductors for the electric vehicle market. These WaferPak Contactors are expected to ship by the end of Aehr's fiscal third quarter ending February 28, 2023. Gayn Erickson, President and CEO of Aehr Test Systems, commented, "We are excited to receive these follow-on orders for a significant number of WaferPaks to be used with previously shipped FOX-XP systems for high volume production of MOSFETS used in electric vehicle inverters and onboard chargers. This customer is a leading Fortune 500 supplier of semiconductor devices with a significant customer base in the automotive semiconductor market, and has publicly announced that they expect their growth rate to accelerate faster than previously forecasted. We are excited to participate in their ramp and meet their quality, reliability and capacity needs, and they continue to forecast orders for a significant number of FOX systems and WaferPak Contactors during this fiscal year and well into the future.
 
DraftKings reports Q3 revenue $502M, consensus $437.23M 07:05 DKNG Monthly Unique Payers increased to 1.6 million average monthly unique paying B2C customers, representing an increase of 22% compared to the third quarter of 2021. "DraftKings had a very strong third quarter. Our team continued to drive top-line growth through highly effective customer engagement and compelling product and technology enhancements while remaining focused on our path to profitability," said Jason Robins, DraftKings' co-founder, Chief Executive Officer and Chairman of the Board. "For the NFL season, we made investments in our mobile Sportsbook product, creating a differentiated and fun customer experience, and also realized unique marketing optimization benefits as an operator with truly national scale. Throughout 2022, we've struck the right balance between delivering differentiated top-line growth and driving operating efficiencies. We continue to be confident that we will achieve positive Adjusted EBITDA in the fourth quarter of 2023 based on the visibility we have into expected state launches."
 
Roku downgraded to Neutral from Buy at Cannonball Research 06:11 ROKU Cannonball Research analyst Vasily Karasyov downgraded Roku to Neutral from Buy with a $57 price target. The analyst thinks "bears will remain in control of the narrative" around Roku in the coming quarters. The company's longer term opportunity "may be intact and supported by growth in active accounts and streaming hours but the stock just won't get credit for it in this tape," Karasyov tells investors in a research note. He does not see a convincing bull case emerging until Roku's Platform revenue re-accelerates significantly and visibility and conviction in estimates improve. Show Related Items >>

WeWork initiated with a Buy at BTIG 05:31 WE BTIG analyst Thomas Catherwood initiated coverage of WeWork with a Buy rating and $7.50 price target. The analyst expects the need for flexible solutions to drive a "Supercycle" of demand for flexible workspaces over the near- and medium-term, a trend that should directly benefit WeWork. Additionally, an improved cash flow profile will allow the company to repay near-term maturities and refinance larger tranches of debt maturing in mid-2025, Catherwood tells investors in a research note.
 
American Axle & Manufacturing Non-GAAP EPS of $0.27 beats by $0.03, revenue of $1.54B beats by $70M, updates FY guidance
Nov. 04, 2022 8:16 AM ET American Axle & Manufacturing Holdings, Inc. (AXL)
  • American Axle & Manufacturing (NYSE:AXL): Q3 Non-GAAP EPS of $0.27beats by $0.03.
  • Revenue of $1.54B (+27.3% Y/Y)beats by $70M.

  • 2022 Updated Financial Outlook: AAM is targeting sales in the range of $5.75 - $5.85 billion (consensus of $5.84B) vs. $5.75 - $5.95 billion prior. AAM is targeting Adjusted EBITDA in the range of $745 - $765 million vs. $790 - $830 million prior. AAM is targeting Adjusted free cash flow of approximately $300 million vs. $300 - $350 million prior; this target assumes capital spending of approximately 3.0% - 3.5% of sales.
  • Shares-17%PM.<------------
 
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