HCA Market Close 08.11.22: Featuring Boozt, Shape Robotics and Xplora
HCA Market Close 08.31.22 –Shape Robotics and Boozt reported strong Q3 results, and Xplora announced a new supply-chain financing deal.
Market Movements:
Denmark: OMX:C25 (+1.05%) ; Sweden: OMX:S30 (+1.36%) ; Norway: OBX:OSL (-0.73%) ; S&P 500 (+1.10%) ; Nasdaq (+1.49%); Stoxx 600 (+0.78%)
Market Drivers:
US markets gained today in a risk-on session.
Today's trading session saw Treasury yields fall, which gave a lift to stocks. Interestingly the basic materials sector was the best-performing S&P 500 sector, outperforming tech. The markets could be reacting to US Mid-terms, as polls suggest that the Democrats will lose the house and possibly also the Senate.
In Europe news that the EU and UK are close to a breakthrough regarding the Northern Ireland protocol gave markets a lift and saw the pound strengthen. The EU has begun testing the UK's live database tracking moving goods. If the Bloc is satisfied, it could pave the way for an agreement on customs checks.
At one stage today, there were whispers of a crypto contagion as the world's second-largest crypto exchange FTX closed withdrawals under liquidity stress following a run on the platform. The saga concluded when Binance, the world's largest exchange, and the company responsible for sparking the run, stepped in to buy FTX.
Snacks from the HCA Platform:
This morning, Shape Robotics reported its Q3 results. Following acquisitions and partnerships, Shape Robotics increased its revenue to DKK 20.8m (DKK 0.9m in Q3 2021). More importantly, Shape Robotics delivered a positive EBITDA result of DKK 0.4m in the quarter. Full-year 2022 revenue guidance is maintained at DKK 81-93m, and Shape Robotics expects to deliver a positive EBITDA between DKK 2m and 4m in H2 2022. The share gained 19% this morning and closed the day -1.4% in today's trading.
Shares of Boozt ended the day with a gain of 9.1% at SEK 98 after reporting Q3 2022 this morning, and having traded both in minus of 6.5% and in plus of 11%, it became a volatile day. The report was a bit mixed. It beat expectations and reported market share gains and record sales per order. However, it also highlighted that momentum is slowing a bit in the economy and that they will most likely only reach the lower part of the guidance range on revenue growth.
Xplora announced this morning it has entered into a NOK 100m supply-chain financing facility with Nordea. The agreement will optimise Xplora's working capital by better matching payment schedules in the company's supply chain. The Nordea financing facility consists of a NOK 90m supply-chain financing agreement and a NOK 10m revolving credit facility for a three-year period.
Disclaimer: HC Andersen Capital receives payment from the companies for a #DigitalIR agreement./ Philip Coombes 18:25