Core Viewpoint - Nvidia's stock performance post-earnings will significantly depend on news regarding the H20 chip for China and the related Q3 guidance [1][15]. Group 1: Earnings Report Expectations - Nvidia is set to report its Q2 fiscal 2026 results on August 27, 2023, after market close [1]. - The upcoming report is highly anticipated as Nvidia is a key indicator for the AI sector and the broader market, being the largest AI company by market cap and the largest stock on the S&P 500 [2]. - Nvidia's Q2 results will not include any sales of the H20 chip to China due to U.S. government export controls [3]. Group 2: Financial Metrics and Guidance - Nvidia's projected Q2 fiscal 2026 revenue is $45 billion, reflecting a 50% growth compared to the previous year, while Wall Street's consensus estimate is $46 billion with a 53% growth expectation [4]. - Adjusted earnings per share (EPS) for Q2 is projected at $0.98, indicating a 44% growth, compared to Wall Street's estimate of $1.01, which reflects a 48% growth [4]. - Wall Street anticipates Q3 revenue of $52.5 billion, representing a 50% year-over-year growth, and adjusted EPS of $1.19, or 47% year-over-year growth [12]. Group 3: Historical Performance and Trends - Nvidia has a strong track record of exceeding Wall Street's earnings estimates, with 90% of the last 20 quarters resulting in earnings beats [7]. - The most recent four quarters have shown a perfect record of 100% earnings beats, although the magnitude of these beats has been smaller recently [5][7]. - Historical stock price movements post-earnings releases indicate that even with earnings beats, stock price changes can vary significantly due to other market factors [11]. Group 4: H20 Chip and Market Dynamics - The guidance for Q3 is particularly important as it may include H20 chip sales, which have recently been approved for export by the U.S. government, albeit with a 15% revenue share to the government [13]. - Recent reports suggest Nvidia has instructed some suppliers to halt production of the H20 chip due to a directive from the Chinese government, which could impact expected sales [13]. - The stock's movement will largely depend on the developments regarding the H20 chip and the management's commentary during the earnings call [15].

Core Viewpoint - zSpace, Inc. is set to present at the 2025 Annual Gateway Conference, highlighting its leadership in immersive augmented reality solutions for education [1][5]. Company Participation - zSpace's management will present on September 4 at 11:00 a.m. PT, with the presentation available for live webcast and replay [2]. - Executives from zSpace will be available for one-on-one meetings throughout the conference [2]. Media Engagement - zSpace will participate in a recorded interview with host Katie Perry, aimed at engaging Stocktwits' retail investor audience of over 10 million [3]. Conference Overview - The Gateway Conference connects growth-stage companies with investors, analysts, and partners, featuring presentations and meetings with over 75 public and private companies [5][6]. Company Background - zSpace, Inc. specializes in augmented reality and AI-powered immersive learning experiences, serving K-12 and post-secondary education sectors [8]. - The company is trusted by over 3,500 educational institutions and holds over 70 patents in immersive technology [8].

Core Insights - HubSpot, Inc. (HUBS) is experiencing strong user engagement in its CRM platform, leading to a 19% year-over-year increase in subscription revenues to $744.5 million in Q2, surpassing estimates [1][8] - The company added over 9,700 net new customers in Q2, bringing the total customer count to 267,982, which is an 18% increase year over year [1][8] - HubSpot is effectively cross-selling its products and optimizing pricing strategies, contributing to customer growth [2][3] Financial Performance - Subscription revenues reached $744.5 million in Q2, up from $623.7 million, marking a 19% increase year over year [1][8] - Earnings estimates for 2025 and 2026 have improved, with projections of $9.49 and $11.36 per share, respectively [10] Product and Technology Integration - The integration of AI across HubSpot's product suite is driving significant upgrades, with Sales Hub seat upgrades increasing by 71% and Service Hub seat upgrades by 110% year over year [4][8] - The seat pricing model is lowering barriers for customers, facilitating upgrades and enhancing user engagement [3] Competitive Landscape - HubSpot faces competition from Salesforce, which generated $9.3 billion in subscription and support revenues in Q1, and Microsoft, whose Dynamic 365 revenues surged 23% year over year [5][6] - The CRM market is witnessing rapid digital transformation, with competitors also integrating AI to enhance their offerings [5][6] Valuation Metrics - HubSpot's shares currently trade at a price/book ratio of 12.11, higher than the industry average of 6.51 [9] - The company's stock has declined by 6% over the past year, contrasting with the industry's growth of 39.8% [7]

Core Insights - Alexandria Real Estate Equities (ARE) shares have increased by 19.3% over the past three months, significantly outperforming the industry growth of 3.9% [1][9] - The company's portfolio of Class A/A+ properties in strategic AAA innovation cluster locations is well-positioned to capitalize on the rising demand for life science assets, driven by the need for drug research and innovation [1][5] - Alexandria's strong acquisition and development strategy, along with a robust balance sheet, supports long-term growth prospects [1][8] Financial Performance - The Zacks Consensus Estimate for Alexandria's 2025 funds from operations (FFO) per share has been revised upward by one cent to $9.21 over the past month, indicating positive analyst sentiment [2] - As of June 30, 2025, the occupancy rate of Alexandria's operating properties in North America was high at 90.8%, contributing to strong rental growth [6] - In the second quarter of 2025, Alexandria placed into service development and redevelopment projects totaling 217,774 RSF, achieving 90% occupancy and generating an incremental annual net operating income of $15 million [7] Market Position and Strategy - Alexandria's strategic focus on Class A/A+ properties in AAA locations is driving high demand, which in turn supports occupancy levels and rent growth [5][9] - The company has $4.6 billion in liquidity as of the end of the second quarter of 2025, with a disciplined debt profile reflected in a net debt to adjusted EBITDA ratio of 5.9X and a fixed-charge coverage ratio of 4.1 [8][9] - Alexandria has increased its dividend nine times in the last five years, with a five-year annualized dividend growth rate of 4.88%, indicating a commitment to shareholder returns [10] Future Outlook - The combination of a strong operating platform, financial flexibility, and strategic property acquisitions suggests that the upward trend in Alexandria's stock price is likely to continue in the near term [11]

Core Insights - Micron Technology, Inc. is witnessing a significant increase in demand for its High Bandwidth Memory (HBM) due to the rapid adoption of artificial intelligence (AI) [1] - The company has sold out its entire HBM supply for the calendar year 2025, indicating strong market demand [9] Demand and Revenue Growth - HBM demand is projected to rise from approximately $18 billion in 2024 to $35 billion in 2025, with continued growth expected in 2026 [2] - In the third quarter, Micron's HBM revenues experienced a 50% sequential growth, and the company anticipates its HBM market share to align with its DRAM share by the second half of 2025 [3][9] - The Zacks Consensus Estimate forecasts year-over-year revenue growth of 47% for fiscal 2025 and 33.9% for fiscal 2026 [5] Capacity Expansion and Investment - Micron is heavily investing in new capacity to meet the rising HBM demand, including expanding its backend manufacturing capacity and plans to increase HBM capacity in Singapore by 2027 [4][9] - Volume shipments of its 12-high HBM3E are currently underway, and sampling for HBM4 has begun for platforms expected in 2026 [3] Competitive Landscape - While there are no direct U.S. competitors in the memory chip space, companies like Intel and Broadcom play significant roles in the HBM supply chain and AI hardware ecosystem [6] - Intel is developing AI accelerators that will require a robust HBM supply, while Broadcom designs custom chips that often integrate HBM, potentially influencing Micron's supply allocation [7] Stock Performance and Valuation - Micron's shares have increased by approximately 39.8% year-to-date, outperforming the Zacks Computer – Integrated Systems industry's gain of 25.9% [8] - The company trades at a forward price-to-sales ratio of 2.68, which is lower than the industry average of 3.65 [10] Earnings Estimates - The Zacks Consensus Estimate for Micron's fiscal 2025 and 2026 earnings suggests a year-over-year increase of about 518.5% and 62.4%, respectively, with upward revisions in estimates over the past 30 days [11]

Core Insights - The Trade Desk's Connected TV (CTV) business is experiencing significant growth, with total revenues for Q2 2025 increasing by 19% year-over-year to $694 million, surpassing the overall digital ad market growth [1][9] - CTV is identified as the fastest-growing advertising channel, bolstered by partnerships with major media companies like Disney, NBCU, Netflix, Roku, and Walmart [1][5] - The company is focusing on the transition from linear to programmatic CTV, which is delivering the highest return on ad spend [2] Revenue and Performance - Video advertising, including CTV, accounted for a high-40s percentage of total business in Q2 2025 [1] - Over 70% of clients are utilizing the AI-powered Kokai platform, with full adoption expected by the end of the year [3] - Campaigns using Kokai are achieving over 20-point improvements in key performance indicators compared to legacy tools, leading to increased advertiser spending [4][9] Competitive Landscape - The competition remains intense, particularly from major players like Google and Amazon, as well as independent ad-tech companies such as Magnite and PubMatic [6][10] - Magnite reported a 14% year-over-year increase in CTV contributions, while PubMatic's CTV revenues surged over 50% year-over-year in Q2 2025 [7][8] Strategic Focus - The Trade Desk is targeting the live sports streaming market, allowing advertisers to bid on key moments in live events, enhancing engagement opportunities [5] - The integration of Koa AI tools into the Kokai platform is seen as a transformative development, improving campaign precision and efficiency [3] Market Position and Valuation - Despite a 54.8% decline in share price year-to-date, TTD's forward price/earnings ratio stands at 26.45X, higher than the industry average of 20.64X [11][13] - The Zacks Consensus Estimate for TTD's earnings for 2025 has remained unchanged over the past 30 days, indicating stability in earnings expectations [14]

Market Overview - The stock market experienced mixed results, with tech shares negatively impacting performance; the Nasdaq Composite fell by 0.6%, while the S&P 500 rose by 0.3% and the Dow Jones Industrial Average increased by 1.5% [2] - Small cap stocks showed the best performance, gaining 3.3% [2] Federal Reserve Insights - Federal Reserve Chairman Jerome Powell's speech at Jackson Hole highlighted the focus on the job market, noting recent weaknesses [3] - The current job market challenges may stem from trade policy changes and the impact of Artificial Intelligence (AI) on hiring practices [4] Employment Trends - There is a slowdown in job creation, particularly affecting entry-level positions, which could have long-term consequences on wage levels for recent graduates [4] Interest Rate Expectations - Following Powell's speech, the probability of a quarter-point rate cut in September rose above 90%, but has since decreased to 83% [5] Economic Data Releases - Upcoming economic reports include Durable Goods orders, expected to decline by 4%, and the Personal Consumption Expenditures (PCE) Index, which will be released later in the week [6] Nvidia and Chip Sector Developments - Nvidia accounts for 8% of the S&P 500 and is set to report earnings soon; the company is facing challenges as China has halted purchases of Nvidia H20 chips due to security concerns [7][10] - The geopolitical landscape raises questions about the ability of adversaries to develop competitive chip technology [8] Tariff News - Canada announced the removal of a 25% tariff on $21 billion of U.S. imports, effective September 1, while maintaining tariffs on U.S. steel, aluminum, and autos [9] Earnings Reports - Upcoming earnings reports include major retailers and tech companies, with Nvidia being a key focus due to its significant market presence [10]

Core Insights - Locafy Limited is participating in the 2025 Gateway Conference on September 3-4, 2025, in San Francisco, CA [1] - CEO Gavin Burnett will present on September 3 at 9:00 am PT and will also hold one-on-one meetings with investors and analysts [2] - The presentation will highlight Locafy's recent momentum, including AI-powered product launches and strategic partnerships, aimed at creating a scalable growth model [3] Company Overview - Founded in 2009, Locafy aims to revolutionize the US$700 billion SEO sector by helping businesses enhance their search engine relevance through an automated approach [4]

Core Insights - Appaloosa's billionaire investor David Tepper has been actively purchasing AI hardware stocks while reducing positions in favored AI stocks like Meta Platforms [1][5][13] Group 1: AI Hardware Investments - Tepper's investment strategy in the second quarter focused on AI hardware, with significant purchases in Nvidia (1,450,000 shares, 483% increase), TSMC (755,000 shares, 280% increase), and Intel (8,000,000 shares, new position) [6][10] - Nvidia's GPUs, particularly the Hopper (H100) and Blackwell models, are crucial for enterprise data centers, while TSMC is expanding its chip-on-wafer-on-substrate capacity to meet demand for AI-GPUs [10] - Intel is viewed as a value-oriented buy, trading below book value and receiving $7.9 billion from the CHIPS Act for domestic chip fabrication plants, positioning it for future growth [11] Group 2: Selling Activity in Meta Platforms - Tepper's Appaloosa exited five positions and reduced 16 others, including a 27% reduction in Meta Platforms shares, which is a favored AI stock among many fund managers [13][14] - The rationale for selling Meta may include locking in gains from a significant stock price increase from under $100 to over $600 per share between late 2022 and the second quarter of 2025 [15] - Despite concerns about the cyclical nature of advertising revenue, Meta's strong user base (3.48 billion daily users) and successful integration of AI solutions into its ad platform may enhance its pricing power [17][18][19]

Financial Data and Key Metrics Changes - Cash earnings for the full year were $514.6 million, down 8.4% year on year, primarily due to a decrease in non-interest income and higher funding costs impacting margins in the first half [5][17] - Operating expenses increased by 7.7% year on year, reflecting planned investment spending and inflationary pressures, but only rose 2.1% in the second half [6][30] - The common equity tier one (CET1) capital ratio was 11%, down 17 basis points over the half but still above the board-approved target [36][37] Business Line Data and Key Metrics Changes - The consumer division saw strong mortgage growth of 8% for the full year, but cash earnings remained flat [7] - The business and agri divisions experienced a 10% decrease in cash earnings, primarily due to reduced net interest income from competitive pressures [8] - The digital EasySaver product launched in February drove a 23% growth in EasySaver balances, contributing to low-cost deposit growth [8] Market Data and Key Metrics Changes - Customer numbers increased by 11%, with the digital bank reaching 1.2 million customers, marking the strongest growth since its inception [4] - Digital deposits through Bendigo Bank branded products grew by 58% over the year, while UP deposits increased by 34% [10][29] - The household deposit to loan ratio remained strong at 73%, significantly above the industry average [29][35] Company Strategy and Development Direction - The company is focusing on a refreshed strategy that emphasizes trust, agility, regional presence, and a strong deposit-gathering franchise [38][39] - The strategy includes five pillars aimed at enhancing digital experiences, streamlining operations, deepening customer relationships, and reinforcing community support [41][42] - The company plans to optimize its deposit franchise and enhance productivity to achieve a return on equity (ROE) target of above 10% by 2030 [43][51] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by a competitive environment and the need for disciplined pricing strategies to maintain margins [56][96] - The company anticipates a gradual improvement in ROE, with significant investments and productivity improvements required over the next two years [71][72] - Management expressed optimism about the potential for improved deposit growth through enhanced digital capabilities and customer engagement [65][99] Other Important Information - The company has invested over $416 million into local communities through sponsorships and grants over the last twenty years, with over $50 million invested this year alone [12] - The company has implemented a productivity program, with restructuring costs expected to continue as part of a comprehensive strategy [6][19] Q&A Session Summary Question: Margin stability and expectations for the next half - Management expressed a desire for more stability in margins, noting that they have managed pricing effectively despite cash rate impacts [56][57] Question: Building blocks for the 10% ROE target - Management highlighted the importance of optimizing the deposit franchise and maintaining costs in line with inflation to support ROE growth [58][60] Question: Funding strategy for growth in business and agri - Management indicated that improving online deposit account opening capabilities would support growth ambitions in business and agri lending [64][65] Question: Regulatory changes and their impact - Management expressed hope that regulatory changes would reduce burdens for mid-sized banks, allowing for more investment in customer-facing capabilities [67][68] Question: Trajectory of ROE towards FY 2030 - Management indicated that the path to improved ROE would not be linear, with significant efforts required in the next two years [71][72] Question: Capital generation and dividend policy - Management reassured that organic capital generation would improve as the company grows, despite a high payout ratio [76][78] Question: Monetizing the UP client base - Management noted that UP's strong customer satisfaction scores would facilitate growth in home lending as the product offerings expand [85][87] Question: Margin compression in business and agri - Management acknowledged competitive pressures impacting margins but emphasized the importance of strategic pricing and deposit management [89][90]