Karoon Energy is a new entry in the ASX 200 Trade Table
Who Dat acquisition enables Karoon’s entry to US Gulf of Mexico (US GoM) & provides asset diversification. We factor in KAR’s acquisition at $720m equity raising (US$300m) and debt drawdown (US$274m). The acquisition now presents an opportunity for investors.
The Who Dat oil and gas field is located in Mississippi Canyon (MC) blocks 503 / 504 / 547 in the Gulf of Mexico (GOM) in water depths of 945m. Who Dat was discovered in late 2007, and has been in production since 2011. Who Dat is made up of numerous stacked reservoirs of Pliocene & Miocene age. Producing reservoirs are located at depths of 10,000ft-17,000ft. Oil is sold into the Mars pipeline (operated by Shell), while gas is sold into the Canyon Chief pipeline (operated by Williams).
PYPL:NAS has been consolidating between $71 & $76 for the past 8 weeks. The stock offers value and may break to the upside of the channel.
Q1 payment growth of 10% to US$354.5bn, Q1 adjusted EPS of $1.17 vs. $1.10 expected, expects Q2 revenue growth of about 6.5% to 7.0%, raised full-year guidance. PayPal had an excellent start to 2023, delivered a stronger-than-expected performance in the first quarter, and increased full-year EPS guidance.
MU is under Algo Engine buy conditions and is a new holding in our US Technology Disruptors portfolio.
Micron Technology, Inc. Reports Results for the Fourth Quarter and Full Year of Fiscal 2022
Record revenue year in mobile, auto, industrial, and networking markets
BOISE, Idaho, Sept. 29, 2022 (GLOBE NEWSWIRE) — Micron Technology, Inc. (Nasdaq: MU) today announced results for its fourth quarter and full year of fiscal 2022, which ended September 1, 2022.
Fiscal Q4 2022 highlights
Revenue of $6.64 billion versus $8.64 billion for the prior quarter and $8.27 billion for the same period last year
GAAP net income of $1.49 billion, or $1.35 per diluted share
Non-GAAP net income of $1.62 billion, or $1.45 per diluted share
Operating cash flow of $3.78 billion versus $3.84 billion for the prior quarter and $3.88 billion for the same period last year
Fiscal 2022 highlights
Revenue of $30.76 billion versus $27.71 billion for the prior year
GAAP net income of $8.69 billion, or $7.75 per diluted share
Non-GAAP net income of $9.48 billion, or $8.35 per diluted share
Operating cash flow of $15.18 billion versus $12.47 billion for the prior year
“In fiscal 2022, Micron generated record revenue of $30.8 billion and delivered our sixth consecutive year of positive free cash flow, allowing us to return a record $2.9 billion to our shareholders,” said Micron Technology President and CEO Sanjay Mehrotra. “Our technology and manufacturing leadership in both DRAM and NAND, deep customer relationships, diverse product portfolio, and strong balance sheet put Micron on solid footing to navigate the weakened near-term supply-demand environment. We are taking decisive steps to reduce our supply growth including a nearly 50% wafer fab equipment capex cut versus last year, and we expect to emerge from this downcycle well positioned to capitalize on the long-term demand for memory and storage.”
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