Syz the moment

Nvidia CEO Jensen Huang dumped another $27 million worth of $NVDA shares. He has now sold almost $100 million worth of shares over the last week. Source: Barchart

Among them, Microsoft and Johnson & Johnson stand out as the only two companies boasting the highest AAA rating. Source: Genuine Impact

With a 250-year history and a product that has been cheaply imitated for decades, $BIRK's 20% revenue CAGR over the last eight years is very impressive. Looking at profitability, Birkenstock actually has 60% gross margins, and its EBIT margins reached as high as 29% in FY22. In 2021, Birkenstock was acquired by the private equity firm L Catterton for $4.3B. Together with Bernard Arnault's family holding company Groupe Arnault, LVMH owns 40% of the ~$30B firm. The rumored valuation of ~$8B would imply an EBIT multiple somewhere around 20x, using the company's FY22 numbers. Source: Quartr

Stocks tend to go up during most presidencies, regardless of who is in power. Key takeaway: Don't mix politics with your portfolio. Source: Charlie Bilello

As shown on the chart below (courtesy of TME), big golden crosses can lead to much bigger outsized oil moves than what we are seeing now… This is becoming problematic for equity markets. As explained by Goldman, "rallying rates and commodities are derailing the goldilocks soft landing scenario. The uncomfortable combination of rallying oil and US long end breaking up is disrupting this equilibrium and triggering a rotation into the “persisting inflation & sticky rates” narrative, adding pressure on equities and valuations". (GS sales desk)

while headlines are all about artificial intelligence darling Nvidia, the weight-loss drugs champions Eli Lilly and Novo Nordisk stocks performance has been spectacular as well. Two year chart shows that $LLY is well ahead of "hot" $NVDA...and $NVO is practically "there"... Source: The Market Ear, Refinitiv

Source: www.aurum.com

The chip designer aims to raise ~$5B, targeting a valuation of $50B-$55B. It's the largest US IPO since $RIVN in 2021. Note that SoftBank’s $50bn flotation of Arm is more than five times oversubscribed, according to bankers pitching investors on the biggest initial public offering in nearly two years, as the UK-based chip designer forecast accelerating revenue growth boosted by the artificial intelligence boom. Despite investor concerns about a drop in profits in Arm’s most recent quarter amid a smartphone industry slowdown and the company’s exposure to multiple risks in China, advisers working on the Nasdaq listing said there was “little price sensitivity among investors”, many of whom would be forced to buy because of Arm’s inclusion in indices. Here's a snapshot of its FY 2023 income satement by App Economy Insights