| Today | ||||
Bearish flow noted in… Story temporarily locked. | ||||
Latest data shows the… Latest data shows the largest indicative borrow rate increases among liquid option names include: (FRGE) 297.65% +18.05, Imperial Petroleum (IMPP) 95.00% +8.30, Novus Capital Corporation II (NRGV) 170.82% +2.00, Aterian (ATER) 86.47% +0.79, Fisker (FSR) 30.45% +0.63, Dutch Bros (BROS) 55.52% +0.44, Crispr Therapeutics (CRSP) 0.70% +0.33, Desktop Metal (DM) 5.85% +0.32, AppHarvest (APPH) 18.62% +0.28, and db X trackers China (ASHR) 7.87% +0.26. | ||||
| Yesterday | ||||
Bullish option flow… Bullish option flow detected in BlackBerry with 9,621 calls trading, 3x expected, and implied vol increasing almost 4 points to 76.85%. May-22 6.5 calls and May-22 6 calls are the most active options, with total volume in those strikes near 5,600 contracts. The Put/Call Ratio is 0.11. Earnings are expected on June 23rd. | ||||
Helbiz expands its… Helbiz expands its e-scooter offerings to the Asia Pacific region for the first time through a strategic trial with alloggio, an operator of short-term rental accommodations in Australia. The program will begin in June, deploying at least 100 e-scooters to alloggio guests and staff, initially in Queensland, Australia, with plans for expansion into other tourism hotspots across the eastern coast of Australia. Leading Helbiz's newest region is Mitchell Price. As Regional Managing Director for Helbiz in the Asia Pacific Region, Mitchell will oversee the operations and expansion of Helbiz's micro-mobility program. Prior to joining Helbiz, Mitchell was Chief of Staff to an Australian Member of Parliament and senior executive for Lime and Superpedestrian in the APAC. Helbiz will initially provide scooters at some of alloggio's major holiday destination hubs including Noosa, Brisbane, and Magnetic Island in Queensland. The e-scooters are powered by 100% clean energy. The scooter ride can be started and paid for through the Helbiz app. | ||||
Latest data shows the… Latest data shows the largest indicative borrow rate increases among liquid option names include: (FRGE) 303.50% +2.67, Rocket Companies (RKT) 9.67% +1.41, Digital World Acquisition Corp (DWAC) 104.19% +1.30, Microvision (MVIS) 17.88% +0.59, Fisker (FSR) 31.63% +0.49, Yum China (YUMC) 1.62% +0.29, Golden Ocean (GOGL) 1.03% +0.25, PowerShares DB Optimum Yield Diversified Comm Strategy Portfolio (PDBC) 1.11% +0.23, Arch Coal (ARCH) 12.86% +0.21, and SPDR S&P Regional Banking (KRE) 1.14% +0.20. | |
Blade Air Mobility… Blade Air Mobility announced that it has entered into a definitive agreement through its wholly-owned European subsidiaries to acquire the asset-light commercial passenger transport activities of three urban air mobility operators in Europe: Monacair SAM, Heli Securite and another helicopter operator in the South of France. Blade will also develop branded passenger terminals at multiple airports and vertiports in France, Monaco and Switzerland utilized by the Air Carriers. The Air Carriers' April year-to-date charter business revenues and flight hours were each approximately 30% above the same period in 2019 as the post-pandemic recovery in travel has been strong in the region. Blade will simultaneously acquire the asset-light commercial activities of Monacair, Heli Securite and a third European helicopter operator for a total cash outlay of $50M. Blade will become the exclusive customer of the Air Carriers, offering Blade branded charter and by-the-seat services in Europe. Pro forma for this acquisition in 2019, Blade would have flown approximately 260,000 fliers spanning three continents. The combination should immediately contribute free cash flow, driven by flight margins above Blade's historical company average, considerably accelerating Blade's path to profitability. Blade will collaborate with the Air Carriers to expand routes for additional key European markets, pursue vertiport development opportunities, and explore integration of Electric Vertical Aircraft for Blade flights in Europe. Transaction is expected to close by Summer 2022, subject to regulatory approval and customary closing conditions. | |
Canaccord analyst T.… Canaccord analyst T. Michael Walkley lowered the firm's price target on BlackBerry to $6 from $7 and keeps a Hold rating on the shares. The analyst attended its Analyst Day and come away incrementally positive on the company's more detailed strategy to grow its software and services segments as it targets $1.2B in revenue by F2027 with increasing profitability. He said his target reduction is due to sustained multiple compression of software stocks. | |
Aspen Aerogels appointed… Aspen Aerogels appointed Virginia Johnson as Chief Legal Officer, General Counsel and Corporate Secretary. Johnson joins the company from Schneider Electric North America, where she served as General Counsel. Prior to her tenure with Schneider, Johnson served in a variety of roles of increasing responsibility in the legal department of Global Atlantic Financial Group, formerly Goldman Sachs Reinsurance Group, most recently as Senior VP, Head of Corporate Legal, Associate General Counsel & Secretary, 2013 to 2021. Before joining Global Atlantic, Johnson was a partner in the Litigation Department of Prince Lobel Tye, 2011 to 2013. |
| Wednesday | ||||
Targets 5-year revenue… Targets 5-year revenue CAGR 13%. The company is targeting: An average 100+ basis points increase in non-GAAP gross margin per year to FY27. Non-GAAP operating margin of approximately 20% by FY27. Investing approximately 30% of revenue on Research & Development in FY23. To be modestly non-GAAP EPS and cashflow negative in FY23 due to investment plans. To be approaching breakeven non-GAAP EPS and cashflow in FY24. To generate positive non-GAAP EPS and cashflow beginning in FY25. IoT: IoT Serviceable AddressableMarket is expected to grow at approximately 8-12% per year from FY23 to FY26. Revenue growth for the IoT business unit is expected to exceed the market growth rate resulting in an increase in market share above the current level of 26% in core automotive domains. Revenue from production-based royalties is expected to grow faster than revenue from the pre-production design phase, increasing the portion of total revenue from royalties. The SAM for BlackBerry IVY is expected to be approximately $800 million in FY25. BlackBerry is targeting its first IVY design wins in FY23. Cybersecurity:The SAMs for endpoint security and managed cybersecurity services are expected to grow at 15% and 14%, respectively, per year to FY27. Revenue for the Cybersecurity business unit, excluding UEM, is expected to grow with a 5-year CAGR of approximately 16% to FY27. Churn in the UEM customer base is expected to negatively impact revenue and Annual Recurring Revenue in FY23, but the impact is expected to become less significant from FY24 onwards. Approximately 20% of the UEM customer base is in non-core verticals, and those customers, representing annual revenue in the region of $40 million, are exhibiting higher than average churn. Approximately 64% of the Cylance customer base currently buys 1 Cylance module, and approximately 27% buy 2 modules. Management is targeting selling additional modules to these customers. | ||||
