First Read US Weekly RevPAR Update Slightly Better RevPAR This Week Driven by Business Travel Weekly RevPAR up +2% YOY US Weekly RevPAR was up +2% YOY for August 4 - August 10 week, above last week's up +1%, with ADR up +140bps and occupancy up +40bps. ADR up +140bps was above last week's +60bps. Occupancy of up +40bps was slightly below last week's +50bps. RevPAR was up +11% vs. '19 per our calculations, broadly in line with last week's +11.5%. We estimate that ADR was up +20% vs. '19 (last week up +20%) a ...

ab 14 August 2024 Global Research and Evidence Lab Cruise Lines Rehash - August 14, 2024 Equities Americas Leisure Goods & Services Robin M. Farley Analyst robin.farley@ubs.com +1-212-713 2060 Arpine Kocharyan Analyst arpine.kocharyan@ubs.com +1-212-713 2086 Alex Kivali Associate Analyst alex.kivali@ubs.com +1-212-713 3945 Alexia Tsimikas Associate Analyst alexia.tsimikas@ubs.com +1-212-713 2183 See here and here for past rehashes. This report has been prepared by UBS Securities LLC. ANALYST CERTIFICATION A ...

ab 14 August 2024 Global Research and Evidence Lab Powered by YES UBS Evidence Lab July Web Traffic Data Equities Americas Internet Services 12-month rating Neutral * 12m price target US$11.00 Price (14 Aug 2024) US$9.36 RIC: UPWK.O BBG: UPWK US Trading data and key metrics | --- | --- | |-----------------------------|---------------| | 52-wk range | US$15.66-9.01 | | Market cap. | US$1.25b | | Shares o/s | 133m (COM) | | Free float | 87% | | Avg. daily volume ('000) | 2,156 | | Avg. daily value (m) | US$23 ...

Global Research and Evidence Lab 14 August 2024 Dayforce Inc. 2024 Boost amid $500m New Buyback = Buy Non-deal road show offers a glimpse at a Special Software Story We recently hosted Dayforce CEO David Ossip, CFO Jeremy Johnson as well as multiple members from investor relations. We continue to have substantial confidence in our thesis as we believe DAY stock is poised to outperform on cloud revenue remix + improving free cash flow conversion—we believe recent underperformance is mostly due to risk-off se ...

Global Research and Evidence Lab 14 August 2024 Fiverr International Ltd July Web Traffic Data Remains Soft Updated Stock Thoughts According to the UBS Evidence Lab Web Traffic Monitor ( > Access Dataset), monthly unique visitors to Fiverr.com slowed to -17% yoy in July from -15% in June. This marked the second consecutive month of worsening trends after web traffic comps have generally been improving since late 2023. Consensus for Q3 calls for a slight deceleration in GMV growth. While some deceleration is ...

Global Research and Evidence Lab 14 August 2024 LatAm Transport and Capital Goods Daily Take-Off: ERJ, TUPY, AZUL, COPA, RAIL ERJ: LATAM discussing up to 30 E2 Jets According to Aeroin, the Minister of Ports and Airports, Mr. Silvio Costa Filho, pointed out that LATAM is in negotiations to acquire jets from the Brazilian manufacturer. Moreover, the article states that LATAM expects to grow more than 10% in the next three years and is considering buying 30 planes. Nonetheless, the CEO of LATAM Brazil, Mr. Je ...

报告行业投资评级 - 报告给予Ibotta Inc的评级为Buy [4] 报告的核心观点 积极因素 - Instacart合作伙伴关系有望带来6%的FY25收入增长 [2] - 第三方零售合作伙伴关系是报告看好Ibotta的原因 [2] - 第三方赎回业务仍处于早期阶段,长期前景乐观 [2] 负面因素 - 广告收入疲软限制了收入和EBITDA的上行空间 [2] - 业绩波动性高于预期,需要降低EBITDA估值倍数 [2] 分部业务总结 第三方赎回业务 - 第三方赎回收入占比提升对毛利率有负面影响 [3] - 第三方赎回业务净增用户超预期,沃尔玛表现领先 [2][14] - 第三方赎回业务收入增长强劲,同比增长52.1% [14] 直接面向消费者(DTC)赎回业务 - DTC赎回收入同比下降25% [14] 其他收入 - 其他收入同比下降26.9% [15] 财务表现总结 - 总收入同比增长13.6%,超出预期 [15] - 毛利率为87.2%,较上年同期提升0.7个百分点 [16] - 销售及营销费用占比较高,达56.5% [16][17] - 调整后EBITDA同比增长11.6%,达到28.7%的利润率 [21] - 自由现金流大幅增长,达到32.7百万美元 [21][22]

Global Research and Evidence Lab 14 August 2024 Equities Americas Healthcare Kevin Caliendo Analyst kevin.caliendo@ubs.com +1-212-713 3630 AJ Rice Analyst aj.rice@ubs.com. +1-212-713 4299 Christopher Mercado, CFA Associate Analyst christopher.mercado@ubs.com +1-212-713 1430 Andrea Alfonso Analyst andrea.alfonso@ubs.com +1-212-713 1342 Dylan Finley Associate Analyst dylan.finley@ubs.com +1-212-713-4880 US Healthcare A Look at Today's Stock Movers, News & Key Data What We Thought Was Interesting Today Today w ...

Global Research and Evidence Lab 14 August 2024 Best Buy Co. Inc. A Tough Lap or A Laptop Pop? Expecting an in-line 2Q; QTD comp and category trends will be key We think the most likely case is that BBY reports 2Q EPS inline to slightly better than the consensus EPS estimate of $1.17. That said, we think the market is expecting a total enterprise comp decline slightly below initial guidance for -3% (cons. also -3.0%, our model has a -3.5%). Our checks indicate sales trends improved a bit sequentially from 1 ...

Global Research and Evidence Lab 14 August 2024 Equities Auto insurance CPI +18.6% y/y, +0.9% sequentially Used Car prices continue , Repair & Medical Care Inflation still elevated ● Physical damage (PD) severity Digital Ad Spend has been trending higher in general Brian Meredith Analyst brian.meredith@ubs.com +1-212-713 2492 Alison Jacobowitz Analyst alison.jacobowitz@ubs.com +1-212-713 3815 Justin Tucker Associate Analyst justin.tucker@ubs.com +1-212-713 2325 We continue to expect personal auto insurance ...