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BenzingaEditorial

The US IPO Market Braces for 17 Debuts

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17 IPOs are slated to raise $9.1 billion in the week ahead, led by long-awaited Chinese ride-hailing giant DiDi Global (NYSE: DIDI) which is scheduled to make its billion-dollar debut.

DiDi

DiDi is aiming for a market cap of of $67.5 billion. China’s dominant ride-hailing app expects to raise more than $4 billion in its IPO which could be one of the year’s largest. With 15 million drivers across 4,000 cities, Didi ranks among the five largest privately held start-ups in the world, backed up by SoftBank Group Corp (OTC: SFTBY), Uber (NYSE: UBER) and Tencent (OTC: TCEHY). Revenue more than doubled in the first quarter of the year for this unprofitable company with an accumulated deficit that has been probed by China’s regulators due to anti-trust violations.

SentinelOne

Cybersecurity platform which provides an AI-powered and automated cybersecurity defence, SentinelOne (NYSE: S), plans to raise $880 million at an $8.2 billion market cap. Fast growing and unprofitable, it counts 4,700 customers as of April 30th.

D-MARKET Electronic Services & Trading

Istanbul-based e-commerce platform D-MARKET Electronic Services & Trading (NASDAQ: HEPS) plans to raise $681 million at a $3.9 billion market cap. Under the name Hepsiburada, it connected 33 million members, 9 million Active Customers, and a base of approximately 45 thousand Active Merchants last year. Although fast growing, EBITDA turned negative during the first quarter of the year.

Krispy Kreme

A brand famous for its glazed doughnuts, Krispy Kreme (NASDAQ: DNUT) plans to raise $600 million at a $3.8 billion market cap. An omni-channel business operating through a network of doughnut shops, partnerships with retailers, and an e-Commerce and delivery business, it has a long track record and strong brand awareness, but it has yet to prove its growth strategy.

LegalZoom.com

At its second IPO attempt, the legal solutions provider LegalZoom.com (NASDAQ: LZ) plans to raise $488 million at a $5.3 billion market cap. It claims to be a leading online platform for legal and compliance solutions that helped form 10% of new LLCs and 5% of new corporations in the US last year. During the first quarter, it was profitable on an EBITDA basis, operating across all 50 states in the US.

Clear Secure

Identity verification platform Clear Secure (NYSE: YOU) targets to raise $396 million at a $4.34 billion market cap. Its secure identity platform uses biometric technology to validate identity. As of the end of May, its network included 38 airports, 26 sports and entertainment partners, along with 67 Health Pass-enabled partners.

Dingdong

Chinese grocery delivery platform Dingdong (NYSE: DDL) pegged its valuation at $6 billion, hoping to raise $343 million. With fresh groceries as its core product categories, this unicorn Shanghai-based company is unprofitable but with explosive growth, claiming to be the fastest growing on-demand e-commerce company in China.

EverCommerce

A leading provider of integrated, vertically-tailored SaaS solutions for service-based SMBs serves over 500,000 customers, EverCommerce (NASDAQ: EVCM) set the terms for a $3.4 billion IPO, hoping to raise $325 million. The business has three core verticals: Home Services, Health Services, and Fitness & Wellness Services.

Intapp

A provider of industry-specific, cloud-based software solutions for the professional and financial services industry across the globe, Intapp (NASDAQ: INTA) filed for a $278 million IPO. As of March 31st, it had over 1,600 clients and it currently has more than 20 clients with contracts greater than $1 million of ARR. It is aiming for a market cap of $1.9 billion.

Xometry

Online manufacturing marketplace Xometry (NASDAQ: XMTR) proposed to raise $275 million at a $1.9 billion market cap. As an AI-enabled marketplace for on-demand manufacturing, its buyers include businesses ranging from self-funded start-ups to Fortune 100 companies. Since its inception, over 6 million parts have been manufactured through its platform.

Integral Ad Science Holding

Integral Ad Science Holding (NASDAQ: IAS) is pursuing a $240 million IPO with a value of $2.5 billion. The company’s technology provides metrics designed to verify that digital ads are served to a real person, viewable on-screen, and appear in a brand-safe and suitable environment in the correct geography. It is profitable on an EBIT basis.

Torrid Holdings

Plus-sized women’s apparel brand Torrid Holdings (NYSE: CURV) filed for a rare public debut in the mall sector, aiming to raise $156 million, valuing the company at $2.1 billion. By net sales, this profitable company is the largest direct-to-consumer brand of women’s plus-size apparel and intimates in North America.

Acumen Pharmaceuticals

Alzheimer’s biotech Acumen Pharmaceuticals (NASDAQ: ABOS) plans to raise $125 million at a $607 million market cap. Its lead candidate, ACU193, is a humanized monoclonal antibody that selectively targets amyloid-beta oligomers. Currently in Phase 1 trial in patients with mild dementia or cognitive impairment due to AD, data is expected the end of 2022.

AMTD Digital

Digital financial services provider in Asia, AMTD Digital (NYSE: HKD) aims to raise $120 million, valuing the company at $1.4 billion. Profitable with explosive growth, it generates revenue from fees and commissions from two business lines.

Aerovate Therapeutics

Drug formulation developer Aerovate Therapeutics (NASDQ: AVTE) plans to raise $100 million at a $325 million market cap. Its is focused on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension, with a completed a Phase 1 study in healthy volunteers, and Phase 2b/3 trial in PAH patients scheduled to begin.

CVRx

Neuromodulation device provider that manufactures and markets its minimally invasive neuromodulation solutions on its proprietary platform, CVRx (NASDAQ: CVRX) plans to raise $100 million at a $333 million market cap. With a first-of-its-kind FDA approval under its belt, it claims its BAROSTEM NEO is the first and only commercially available neuromodulation device that improves symptoms for patients with heart failure with reduced ejection fraction.

Nyxoah

Belgium-listed Nyxoah (NASDAQ: NYXH) plans to raise $87 million at an $803 million market cap. Its lead product is a CE-marked, minimally-invasive hypoglossal neurostimulation therapy for obstructive sleep apnea. It began generating revenue from Genio in Europe last July and is currently conducting a pivotal trial to support authorization in the US.

By the looks of it, the IPO market is on fire- so much we can argue that it has never been hotter.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

BenzingaEditorial

Coca Cola Confirms Its World’s Beloved Brand Status

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For more than a century, The Coca-Cola Company (NYSE: KO) has been “refreshing the world in mind, body, and spirit”. The company aims to inspire moments of optimism, to create value and make a difference.

On Wednesday, the beverage giant revealed second-quarter earnings and revenue that beat Wall Street’s expectations, allowing it to raise its full year forecast for adjusted earnings per share and organic revenue growth. Most importantly, some markets rebounded from the pandemic, fueling revenue to surpass 2019 levels. Shares rose more than 2% in morning trading.

Q2 figures

Net income rose from $1.78 billion as it amounted to $2.64 billion. It resulted in adjusted earnings per share of 68 cents, exceeding the expected 56 cents. Net sales rose 42% with revenue of $10.13 billion that also exceeded the expected $9.32 billion. Excluding acquisitions and foreign currency, organic revenue rose 37% compared to last year’s biggest plunge in quarterly revenue in at least three decades due to lockdowns that severely dented demand.

A significant increase in marketing and advertising spend fueled the rebound but Coca Cola’s approach isn’t just about boosting spend, but also about increasing the efficiency of that spend. CFO John Murphy revealed that marketing dollars were doubled compared to last year’s quarter, when the pandemic forced the beverage giant to slash its costs to preserve cash.

Unit performance

All drink segments reported double-digit volume growth. Away-from-home channels, like restaurants and movie theaters, were rebounding in some markets, like China and Nigeria, but there are also markets that are still being heavily pressured by the pandemic such as India.

The department that contains its flagship soda saw volume increase by 14% in the quarter. The nutrition, juice, dairy and plant-based beverage business saw a volume growth of 25%, partly fueled by Minute Maid and Fairlife milk sales in North America. The same volume growth was seen by hydration, sports, coffee and tea segment. Costa cafes in the United Kingdom reopened and drove 78% increase in volume for coffee alone.

The risk of raising commodity prices

Like its F&B peers, Coke is facing higher commodity prices but it plans to raise prices and use productivity levers to manage the volatility in the second half of the year.

Outlook

For the full year, Coke improved its organic revenue growth outlook from high-single digit growth to a range of 12% to 14%. It also raised its forecast for adjusted earnings per share growth from high single digits to a low double digits range of 13% to 15%.

Putting it all together, executives emphasized the range of possible outcomes given the asynchronous recovery and dynamic of the pandemic. Coca Cola plans to build on the strong momentum by intensifying the amount and efficacy of promotions and continuing to innovate, what it does better than anyone and what helped it earn its brand status.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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BenzingaEditorial

Automakers Are Hitting the Accelerator in the EV Race

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On Thursday, Daimler AG (OTC: DDAIF) has officially hit the accelerator in the e-car race with Tesla (NASDAQ: TSLA), revealing it will invest more than 40 billion euros in EVs by 2030. From 2025, three new vehicle platforms will only make battery-powered vehicles. One will cover passenger cars and SUVs, one will be devoted to vans and last but not least, the third will be home to high-performance vehicles that will be launched in 2025. Under its EV strategy, the inventor of the modern motor car will be renamed Mercedes-Benz as it spins off its trucks division by the end of the year. With its partners, it will build eight battery plants to ramp up EV production.

Upon the news that come just over a week after the EU proposed an effective ban on the sale of new petrol and diesel cars from 2035, shares rose 2.5%.

Automotive peers

Ahead of the EU’s announcement that is only part of a broad strategy to combat global warming, many automakers announced major investments in EVs. Earlier this month, Stellantis (NYSE: STLA) revealed its own EV strategy that includes investing more than 30 billion euros by 2025. Mercedes Benz isn’t the only one ‘going for it’ to be dominantly, if not all electric, by the end of the decade. Geely Automobile Holdings Limited’s (OTC: GELYF) Volvo Cars committed to going all electric by 2030, while General Motors Co (NYSE: GM) is aiming to be fully electric by 2035 and Volkswagen AG (OTC: VWAGY) even plans to build half a dozen battery cell plants in Europe.

Moving the debate

Daimler’s chief executive stated that  spending on ICE-related technology will be “close to zero” by 2025 but he did not specify when it will end the sales of fossil fuel-powered cars. Källenius wants to move the debate away from when will the last combustion engine be built to how quickly they can scale up to being close to 100% electric.

Tough decisions for Mercedes Benz

The undergoing shift will result in an 80% drop in investments in ICE vehicles between 2019 and 2026. This will have a direct impact on jobs because EVs have fewer components and so require fewer workers compared to their ICE counterparts. As of 2025, Daimler expects EVs and hybrids will make up half of its sales, with all-electric cars expected to account for most that figure, which is earlier than its previous forecast for 2030.

The battery- the Holly Grail

By 2023, Daimler plans to have a fully operational battery recycling plant in Germany. The industry leader Tesla just signed a deal with the world’s largest nickel miner to secure its battery resources as it prepares to begin its own tables battery in-house. Then there’s Worksport (OTC: WKSP) who will bring solar power to the EV table with its solar fusion TerraVis which will be fine-tuned and validated for prelaunch by the end of 2021. Although the first prototype is a solar-powered tonneau cover for pickup truck drivers, the company is also developing TerraVis COR which is a standalone product that offers remote power generation and storage. In other words, with its two-year partnership with Ontario Tech University, Worksport is fully equipped to power many automakers step into the electrification era.

The EV race is a journey like no other we have witnessed – and the participants are going full-speed ahead as they race to reshape the energy matrix of automotive industry.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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BenzingaEditorial

Intel’s Q2 Results Show It Is Not Losing Focus

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Intel Corporation (NASDAQ: INTC) revealed its second-quarter 2021 financial results yesterday. The digitization transformation and switching to cloud services continue to accelerate, and a company like Intel sees that as the opportunity for an even bigger growth. Even with the current semiconductor shortage, Intel is not losing its focus on both innovations and the implementation of new solutions. The company’s CEO, Pat Gelsinger, appointed earlier in 2021, believes we are at the beginning of the semiconductor industry’s decade of sustained growth and that Intel has a unique position to capitalize on that trend. As the momentum is strengthening, execution is increasing, the company’s products are being chosen for top and flagship products. We can also see good results in other companies in the semiconductor business, like Texas Instruments Incorporated (NASDAQ: TXN) and Advanced Micro Devices, Inc. (NASDAQ: AMD).

 Second-quarter results

Intel’s second-quarter results are positive and the proof of the momentum building up, as mentioned by Gelsinger. GAAP revenues for Q2 were $19.6 billion, significantly higher than the expected $17.8 billion, and there was no change when looking back year over year. However, non-GAAP revenues were $18.5 billion, exceeding the April guidance by $700 million, and that is 2% up compared to the previous year. Intel’s Data Center Group (DCG) generated $6.5 billion compared to the expected $5.9 billion. Client computing generated the expected revenues of 9.95 billion, while the actual revenues were $10.1 billion. GAAP earnings per share were $1.24, while the non-GAAP EPS were $1.28, which also surpassed April’s guidance of $1.07.

 The good trend in the semiconductor industry

Another chipmaker, Dallas-based Texas Instruments, also reported Q2 earnings that topped the expectations. These good results were due to revenues growth and an increase in profits. The analysts expected revenues of $4.36 billion, and the company managed to generate $4.58 billion. That is a sales increase of 41% when looking year over year. Expected earnings per share were $2.05, while the analysts expected $1.83. However, the sales guidance for the current quarter was below the investors’ wishes, so the share price dropped upon the news.

 Outlook

As revenue, EPS, and gross margin exceeded the Q2 guidance, Intel raised its 2021 full-year guidance. So expected GAAP revenues are $77.6 billion and non-GAAP revenues are expected to amount to $73.5 billion (which is an increase of $1 billion), resulting in expected GAAP EPS of $4.09 and non-GAAP EPS of $4.80. Planned CAPEX is between $19 billion and $20 billion and free cash flow should be $11 billion, which is an increase of $500 million versus prior expectations. Gelsinger estimates that the semiconductor shortage will start loosening in the second half of the year, but it will take another one to two years until the demand is completely met.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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