$MAXN

Maxeon Solar Technologies Ltd

  • NASDAQ
  • Utilities
  • Alternative Power Generation
  • Manufacturing
  • Semiconductor and Related Device Manufacturing

PRICE

$12.57 ▼-1.412%

Last Close

VOLUME

216,517

DAY RANGE

12.57 - 13.59

52 WEEK

7.48 - 25.39

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Friday, August 13, 2021 Futures Up/Down % Last Dow 50.00 0.14% 35,452 S&P 500 3.25 0.07% 4,457 Nasdaq 3.50 0.02% 15,081 Following a third straight record close for the S&P 500 and Dow Jones Industrial Average, futures are again looking to push higher, building on the continued upward momentum. Volumes were very light on Thursday and market breadth was negative, but that didn’t stop major averages from climbing all day despite another rise in producer prices (PPI inflation data) as the S&P 500 recorded its 47th record close this year (on track to beat its record of 62 record highs registered in 2017). Volume on U.S. exchanges was just 8.38 billion shares, making it one of the slowest trading days of the year. The average for the full session over the last 20 trading days is around 9.5 billion shares. It’s also now been 323 calendar days since the S&P 500 last ended, on a closing basis, a decline of 5% or more from a record high (according to Reuters). In Asian markets, The Nikkei Index slid -37 points to dip back below the 28,000 level, the Shanghai Index dipped -8 points to 3,516 and the Hang Seng Index dropped -126 points to 26,391. In Europe, the German DAX is higher by 75 points to move above the 16,000 level, while the FTSE 100 is up over 25 points to 7,220. After a consolidation day, crypto assets are surging again this morning, on track for weekly highs for Bitcoin around $46,500, Ethereum up over $3,250 and Bitcoin cash ($BCH) up 5% around $640. In stock news, the FDA amended the emergency use authorizations granted for Pfizer ($PFE)/BioNTech ($BNTX) and Moderna ($MRNA) COVID-19 vaccines on Thursday, allowing their use as booster shots in certain immunocompromised individuals Market Closing Prices Yesterday The S&P 500 Index gained 13.13 points, or 0.30%, to 4,460.83 The Dow Jones Industrial Average edged higher 14.88 points, or 0.04%, to 35,499.85 The Nasdaq Composite jumped 51.13 points, or 0.35%, to 14,816.26 The Russell 2000 Index declined -6.27 points, or 0.28% to 2,244.07 Events Calendar for Today 8:30 AM ET Import/Export Prices MoM for July 10:00 AM ET University of Michigan Sentiment, Aug-P 1:00 PM EST Baker Hughes Weekly rig count data Earnings Calendar: Earnings Before the Open: CL, ME, VERO Other Key Events: Cowen 9th Annual Internet & Media Bus Tour (virtual), 8/9-8/13 Credit Suisse 4th Annual FinTech Conference (virtual), 8/11-8/13 Macro Up/Down Last Nymex -0.02 69.07 Brent 0.03 71.34 Gold 10.10 1,761.90 EUR/USD 0.0018 1.1748 JPY/USD -0.14 110.27 10-Year Note -0.025 1.342% Sector News Breakdown Consumer AirBnB ($ABNB) Q2 gross bookings $13.4B up 320% vs. est. $11.19B; saw strong demand for bookings in q2, achieving highest gross nights booked of any quarter; number of active listings grew in q2; active listings in non-urban destinations in Europe & N. America increased 8% from Q1 2021 to Q2; expect q3 rev to be co’s strongest qtrly rev on record and to deliver the highest adj Ebitda dollars and margin ever; expect GBV in q3 2021 to be well above 2019 levels, but below co saw in q2 due to impact of booking timing differences and cancellations DoorDash ($DASH) 2Q revs $1.2B vs est. $1.08B, qtrly total orders +69% to 345Mm, qtrly marketplace gov +70% to $10.5B; guides 3Q marketplace gov $9.3-9.8B with adj EBITDA $0-100Mm vs est. $44Mm; guides FY marketplace gov $39-40.5B w/ adj EBITDA $150-350Mm vs est. $213.5Mm JBS SA, the world’s largest meatpacker, said late Thursday it has proposed buying the remaining common shares in Pilgrim’s Pride (PPC) for $26.50 per share in order to delist its U.S.-based subsidiary, which represents a premium of about 17% to PPC’s last close PepsiCo Inc. ($PEP) and Boston Beer Co. (SAM) said they plan to partner on an alcoholic version of the Mountain Dew soft drink with the brand Hard Mtn Dew. The coming product is a nod to what the companies see as evolving tastes of drinkers, executives said Tuesday. Fiesta Restaurant ($FRGI) Q2 EP S0.11, in-line with ests; Q2 revs $91.2M, consensus $157.49M; Comp restaurant sales at Pollo Tropical increased 43.5%; comparable restaurant sales at Taco Cabana increased 15.6% Flowers Foods ($FLO) Q2 adj EPS $0.32 vs. est. $0.28; Q2 revs $1.02B vs. est. $1.01B; raises FY21 EPS view to $1.17-$1.22 from $1.10-$1.17 (est. $1.15), while narrows FY21 revenue view to $4.26B-$4.30B from $4.23B-$4.30B (est. $4.25B); Q2 adjusted EBITDA decreased 5.0% to $122.1M Luminar Technologies ($LAZR) 2Q adj EPS ($0.08) vs est. ($0.08) on revs $6.3Mm vs est. $6.32Mm; guides FY revs $30-33Mm vs est. $27.35Mm Mister Car Wash ($MCW) Q2 adj EPS $0.14 on revs $197.1M (vs. $101.9M last year); Q2 comp store sales increased 93% for the second quarter of 2021 compared to Q2 fiscal 2020; sees FY21 revenue net growth of about 30% and comparable stores sales growth of 29% to 33% Rush Street interactive ($RSI) Q2 adj EPS loss (-$0.04) vs. est. loss (-$0.12); Q2 revs $122.8M vs. est. $112.4M; boosts FY21 revenue view to $465M-$495M from $440M-$480M (est. $467.69M) Hall of Fame Resort & Entertainment (HOFV) Q2 revenue +39% to $2.4M, Q2 net income was $15.5M, Q2 Adj EBITDA loss ($5.6M) vs $1.3M YoY and Q2 cash balance, including restricted cash, of $73.7M vs $68.5M as of March 31, 2021 Energy, Industrials and Materials Kansas City Southern (KSU) says its board has determined that the latest unsolicited proposal from Canadian Pacific Railway (CP) does not constitute a superior proposal, and reaffirms its support of a merger with Canadian National Railway (CNI). Earlier this week, CP submitted a new $300 per share offer that values KSU at $31B. Under the terms of the CNI, KSU holders would receive $200 in cash and 1.129 CNI shares Boeing’s (BA) Starliner space capsule launch is facing delays of several months as it will likely need repairs, the WSJ reported Maxeon Solar (MAXN) 2Q EPS ($1.99) vs est. ($1.39) on revs $176Mm vs est. $181.1Mm; guides 3Q revs $220-240Mm vs est. $220Mm Hydrofarm Holdings (HYFM) Q2 adj EPS $0.30 vs. est. $0.20; Q2 sales $133.8M vs. est. $134.7M; sees FY sales up 45%-50% XL Fleet Corp. (XL) 2 EPS ($0.08) vs est. ($0.06) on revs $3.7M vs est. $4.4M; OEMs have pushed out the opening of new orders and extended lead times, indicating the shortage of its new commercial fleet vehicles will stretch into 2022 Financials com ($LZ) Q2 adj EPS $0.03 vs est. $0.02 on revs $150.4M vs est. $140.5M, gross margin 67% from 68% in Q1; sees Q3 revs $143M-$147M, FY revs $570M-$578M vs est. $564.36M, FY adj EBITDA $55M-$59M, says 2021 quarterly revenue growth rates are affected by the impact Covid-19 had on business formations in 2020 Rocket Companies ($RKT) Q2 adj EPS $0.46 vs. est. $0.49; Q2 revs $2.67B vs. est. $2.92B; Achieved record purchase closed loan origination volume, nearly doubling year-over-year; fourth consecutive quarter of meeting or exceeding guidance for closed loan, net rate lock volume, and gain on sale margins; generated $84 billion in mortgage origination closed loan volume and gain on sale margin of 2.78% SoFi Technologies ($SOFI) Q2 EPS ($0.48) vs est. ($0.06) on adj revenue $237.22M vs est. $218.6M, adj EBITDA $11.24M; Q2 total products 3.7M (+123% YoY), total members 2.6M (+113% YoY); sees Q3 adj net sales $245M-$255M vs est. $260.3M, adj EBITDA ($7M)-$3M; reaffirms FY guidance for adj net revs $980M and adj EBITDA $27M ZipRecruiter (Z$IP) Q2 net loss ($25.8M) adj EBITDA loss ($1.7M), sales $183M vs est. $160.4M; sees Q3 adj EBITDA $10M-$16M, sales $182-$188M vs est. $156M; raised FY forecast for sales to $651M-$665M from $580M-$600M (est. $595.3M); adj EBITDA to $30M-$38M from $20M-$28M Healthcare The FDA amended the emergency use authorizations granted for Pfizer ($PFE)/BioNTech ($BNTX) and Moderna ($MRNA) COVID-19 vaccines on Thursday, allowing their use as booster shots in certain immunocompromised individuals Acutus Medical ($AFIB) Q2 EPS loss (-$0.89) vs. est. loss (-$0.84); Q2 revs $4.71M vs. est. $4.15M; leaving its year guidance unchanged and projects revenue to range between $22.0 million and $30.0 million; said Q2 direct segments which grew nearly 45% sequentially as compared to the first quarter of 2021 Bio-Life Solutions ($BLFS) 2Q adj EPS $0.00 vs est. ($0.07) on revs $31.2Mm vs est. $27.6Mm; guides FY revs $108-117Mm vs est. $110.5Mm Co-Diagnostics ($CODX) 2Q revs $27.4Mm vs est. $20.8Mm; guides 3Q EPS $0.19-0.22 vs est. $0.22, sees 3Q revs $23-25Mm vs est. $18.1Mm Moderna ($MRNA) announced the publication of a new study showing that its COVID-19 vaccine led to durable antibody levels against newly detected COVID-19 variants. Seer Inc. ($SEER) 2Q EPS ($0.27) vs est. ($0.28) on revs $1.3Mm vs est. $787K Spectrum Pharma (SPPI) 2Q adj EPS ($0.25) vs est. ($0.26), ended qtr with cash, equivalents & marketable of $158.8Mm Technology, Media & Telecom Disney ($DIS) 3Q adj EPS $0.80 vs est. $0.55 on revs $17.02B vs est. $16.76B, qtr end Disney+ paid subs 116Mm, qtr end ESPN+ paid subs 14.9Mm, qtr end Hulu paid subs 42.8Mm; pleased with company’s trajectory amidst ongoing challenges of covid Globant S.A. ($GLOB) 2Q adj EPS $0.88 vs est. $0.84 on revs $305.3Mm vs est. $288.2Mm; guides 3Q adj EPS at least $0.92 vs est. $0.85, sees 3Q revs at least $325Mm vs est. $292.7Mm; guides FY adj EPS at least $3.58 vs est. $3.40 and revs at least $1.236B vs est. $1.145B Latch Inc. ($LTCH) Q2 loss ($40.1M) vs ($15M) loss YoY on revenue $9M vs est. $10.1M, adj EBITDA ($17.4M) from ($13.4M) YoY, total bookings $95.8M (+102% YoY), booked ARR $48.8M (+122% YoY); issued Q3 guidance for total bookings $55M-$90M, revenue $10M-$11M vs est. $14.79M, adj EBITDA ($32M)-($28M); now sees FY bookings $325-$340M and lowered its FY rev outlook to $38M-$42M from $47M-$51M vs est. $49.1M LiveXLive Media ($LIVX) Q1 EPS loss (-$0.12) vs. est. loss (-$0.06); Q1 revs up 269% to $38.8M vs. est. $28.03M; raises FY22 revenue view to $115M-$125M from $110M-$120M (est. $114.19M); Paid subscribers as of June 30, 2021 increased 32% to over 1,162,000, a net increase of approximately 285,000, as compared to 877,000 subscribers at June 30 Sierra Wireless ($SWIR) 2Q adj EPS ($0.03) vs est. ($0.15) on revs $132.8Mm vs est. $119.8Mm, says product demand remains very strong, limited production has resumed at Vietnam facility but experiencing production interruptions due to covid Viavi Solutions ($VIAV) Q4 adj EPS $0.22 vs. est. $0.19; Q4 revs $310.9M vs. est. $300.83M; sees Q1 adj EPS $0.20-$0.22 vs. est. $0.20; sees Q3 revs $303M-$317M vs. est. $309.01M Cricut ($CRCT) Q2 EPS $0.22 vs. est. $0.20; Q2 revs $334.49M vs. est. $319.08M; Connected machine revenue was $146.3 million, up 29.0% over Q2 2020; subscriptions revenue was $50.7 million, up 110.9% over Q2 2020; accessories and materials revenue was $137.5 million, up 40.4% over Q2 2020; gross margin was 39.0%, up from 31.1% over Q2 2020 ContextLogic (WISH) Q2 revs $656M vs. est. $722.9M; shares tumble over 20% after saying demand slowed and costs rose more than expected (downgraded ay Cowen and JPM)

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(US) Select Premarket Movers Fri, 21 May 2021 8:41 AM EST Upside: -ANVS +23% (announces positive Phase 2 Data for ANVS401; improves cognition in Alzheimer’s Disease) -YALA +11% (launches $150M share repurchase program) -BKE +6.8% (earnings) -RFIL +5.9% (receives $7.6M follow-on order from Tier-1 wireless carrier customer) -DECK +5.8% (earnings, guidance) -PANW +5.8% (earnings, guidance) -FL +2.2% (earnings) -WWE +2.1% (returns to live events with 25-city tour beginning July 16) -ROST +1.8% (earnings, guidance; new share repurchase program) -TSLA +1.6% (said to have raised prices for Model 3 and Model Y) -DE +1.3% (earnings, guidance) -HD +1.1% (announces $20B share repurchase authorization) Downside: -VFC -3.9% (earnings, guidance) -FLO -2.3% (earnings, guidance) -AMH -2.1% (prices upsized 16.3M shares at implied $36.75/shr) -ACRS -1.2% (files automatic mixed shelf of up to $150M) -MAXN -1.1% (earnings, guidance)

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Early Look Friday, May 21, 2021 Futures Up/Down % Last Dow 130.00 0.38% 34,158 S&P 500 13.25 0.32% 4,167 Nasdaq 33.00 0.24% 13,519 U.S. stocks are looking higher to end the week, adding to yesterday’s massive gains that saw major averages snap their 3-day losing streak, led by technology shares as Treasury yields remained subdued and on increased economic optimism after Americans filing for first-time unemployment benefits fell last week to a pandemic low of 444,000. It was another “buy the dip” reaction for major averages as the S&P avoided its longest losing streak since February with yesterday’s advance. Oil prices are looking higher, trying to snap its 3-day losing streak, while gold is little changed after a strong week of gains. Inflation fears still linger for markets as pricing fears remain as the economy improves, keeping gains in check for now. The U.S. Treasury, meanwhile, proposed a minimum global corporate tax rate of 15%, lower than earlier proposals of 21% that received pushback from other countries. Crypto currencies are steady after three days of extreme volatility. Yesterday’s big Nasdaq gains (1.77%) gave it a chance to avoid its fifth straight weekly decline heading into the trading week, which would be its longest in nine years (is up 0.8% heading into today). In Asian markets, The Nikkei Index rose 219 points to 28,317, the Shanghai Index slipped -20 points to 3,486, the Hang Seng Index edged higher 8 points to 28,458. In Europe, the German DAX is up about 25 points to 15,394, while the FTSE 100 is little changed at 7,015. Market Closing Prices Yesterday The S&P 500 Index jumped 43.44 points, or 1.06%, to 4,159.12 The Dow Jones Industrial Average rose 188.11 points, or 0.55%, to 34,084.15 The Nasdaq Composite surged 236.00 points, or 1.77%, to 13,535.74 The Russell 2000 Index advanced 14.12 points, or 0.64% to 2,207.76 Events Calendar for Today 9:45 AM EST Markit Composite Flash PMI, May 9:45 AM EST Markit Manufacturing PMI…est. 60.2 9:45 AM EST Markit Services PMI, Flash…est. 64.5 10:00 AM EST Existing Home Sales MoM for April…est. 6.09M 1:00 PM EST Baker Hughes Weekly rig count data Earnings Calendar: Earnings Before the Open: BAH, DE, FL, FLO, ROLL, VFC Other Key Events: UBS Financial Institutions Conference (virtual), 5/19-5/21 Virtual Display Week 2021, 5/17-5/21 Oppenheimer Rare & Orphan Disease Summit (virtual), 5/21 Macro Up/Down Last Nymex 1.01 62.95 Brent 0.93 66.04 Gold 1.75 1,879.00 EUR/USD 0.0004 1.2232 JPY/USD -0.09 108.69 10-Year Note +0.005 1.639% Sector News Breakdown Consumer Home Depot ($HD) announces $20B share buyback Decker’s Outdoors ($DECK) 4Q EPS $1.18 vs. est. $0.64 on sales $561.2Mm vs. est. $437.1Mm; approved additional $750Mm share repurchase auth; guides FY22 net sales $2.95-3.0B vs. est. $2.7B, gross margin approx 53.3%, SG&A exp rt about 35.5%, effective tax rt 23%, EPS $14.05-14.65 excl additional repurchase (vs. est. $14.50); Q4 UGG net sales +53.1%, HOKA net sales +74.2% and Teva net sales +1% Flowers Foods ($FLO) Q1 adj EPS 41c vs. est. 39c; Q1 revs $1.30B vs. est. $1.33B; Q1 adjusted EBITDA decreased 1.0% to $161.6M; adj EBITDA represented 12.4% of sales, a 30-basis point increase; sees year EPS $1.10-$1.17 vs. est. $1.13 on revs $4.23B-$4.3B vs. est. $4.26B Ross Stores ($ROST) 1Q EPS $1.34 vs. est. $0.88 on sales $4.5B vs. est. $3.87B; guides 2Q comps +5-7% and EPS $0.80-0.89 vs. est. $1.04; plans FY comps +7-9% and EPS $3.93-4.20 vs. est. $4.22; announces new $1.5B repurchase program Energy, Industrials and Materials Deere & Co ($DE) Q2 $5.68 vs. est. $5.17 and Q2 sales $12.06B (up from prior year $9.25B); raised its full-year profit forecast and posted a 169% surge in quarterly profit; said it expects to see increased supply-chain pressures through the balance of the year; raises net income for 2021 to be between $5.3B-$5.7B from prior forecast of $4.6B-$5.0B Virgin Galactic ($SPCE) upgraded to Buy from Neutral at UBS with a price target of $36, down from $40 Maxeon Solar ($MAXN) Q1 EPS loss ($1.14) vs. est. loss ($1.48); Q1 revs $165M vs. est. $160.28M; sees Q2 revs $165M-$185M vs. est. $218.6M EnerSys ($ENS) Q4 adj EPS $1.30 vs. est. $1.29; Q4 sales $813.5M vs. est. $801M Financials LPL Financial ($LPLA) reported $1.063T total advisory and brokerage assets at the end of April, indicating a 10.9% increase from March 2021; total net new assets were $73.8B Apollo Investment ($AINV) Q4 Net investment income per share 39c vs. 42c est.; total investment income $50.8M, -29% YoY; net asset value per share $15.88 vs. $15.70 YoY American Homes 4 Rent ($AMH)3M share Spot Secondary priced at $36.75 Healthcare Inspire Medical Systems ($INSP) announced last night Anthem ($ANTM) will provide coverage for the company’s Inspire therapy, effective May 20 Technology, Media & Telecom Applied Materials ($AMAT) 2Q adj EPS $1.63 vs. est. $1.51 on revs $5.58B vs. est. $5.41B; guides 3Q net sales approx $5.92B vs. est. $5.54B, sees 3Q adj EPS $1.70-1.82 vs. est. $1.56 Palo Alto Networks ($PANW) Q3 adj EPS $1.38 vs. est. $1.28; Q3 revs $1.1B vs. est. $1.06B; Q4 Total billings in the range of $1.695B-$1.715B, representing YoY growth of between 22% and 23% (and year total billings growth over 23%); sees Q4 adj EPS $1.42-$1.44 vs. est. $1.42; guides Q4 revs $1.165B-$1.175B vs. est. $1.16B; raises year EPS, revs and billings growth outlook ePlus ($PLUS) 4Q adj EPS $1.41 vs. est. $1.20 on sales $325.6Mm vs. est. $390.8Mm Splunk ($SPLK) upgrade from Sell to Neutral with $125 tgt at UBS saying with shares down 45% since the weak 3QF21/Oct print in early Dec 2020 and given profoundly weak investor sentiment, Splunk shares are looking washed-out and in our view the justification for holding on to our Sell rating has weakened AT&T ($T) upgraded to Buy from Neutral at UBS and raise target to $35 from $32 Yalla Group Limited ($YALA) has authorized a buyback program to repurchase up to $150M (follows three negative short reports in the last two days)

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@xX_Drip_Gawd_Xx #StockTraders.NET
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$MAXN https://pub.webull.com/us/news-html/b268ce6fa6a74cd5816019fb60818a98.html?theme=2

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@Counselor #StockTraders.NET
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wow look at $MAXN going for the full on gap fill. i love those charts

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@Counselor #StockTraders.NET
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closed out long swing on $MAXN nice trade

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@Counselor #StockTraders.NET
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nice continuation $MAXN

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@Counselor #StockTraders.NET
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$MAXN nice chart

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@ivtrades-Chris #ivtrades
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1396 $MAXN Oct20 17.5 Calls trade $0.70 (FT Theo=0.49) ASKSIDE PHLX 14:26:42 IV=135.0% +19.6 FLOOR - OPENING Vol=1546, OI=91,

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Key Metrics

Market Cap

568.78 M

Beta

1.77

Avg. Volume

454.06 K

Shares Outstanding

44.61 M

Yield

0%

Public Float

0

Next Earnings Date

2022-08-11

Next Dividend Date

Company Information

Maxeon Solar Technologies, Ltd. is Powering Positive Change™. Headquartered in Singapore, Maxeon designs, manufactures and sells SunPower® brand solar panels in more than 100 countries, operating the SunPower brand worldwide except the United States and Canada. Maxeon is a leader in solar innovation with access to over 1,000 patents and two best-in-class solar panel product lines. With operations in Africa, Asia, Oceania, Europe and Mexico, Maxeon's products span the global rooftop and solar power plant markets through a network of more than 1,100 trusted partners and distributors. A pioneer in sustainable solar manufacturing, Maxeon leverages a 35-year history in the solar industry and numerous awards for its technology.

Website:

HQ: 8 Marina Boulevard 05 02, 018981 Marina Bay Financial Centre

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