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New Street Research

Research is provided by our team of experienced analysts. Our work is idea driven, based on independence of thought, sector expertise, and firmly focused on fundamentals and valuation of telecoms and internet names globally. New Street is headquartered in London with offices in New York, Singapore and Australia. 

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
US Healthcare
Japanese Healthcare

We also provide debt research on:
Pan European Telecom Services and Cable

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/21085" target="_blank" data-smartkarma-citation="entities:21085:1">Naspers' (NPN SJ)</a> 1H17 results show continued traction on the top-line with revenues (adjusted for M&amp;A and FX changes) continuing to accelerate, albeit slightly below our expectations. Profitability is a key issue for investors and, as expected, the African PayTV business remains under pressure. Sub-Saharan Africa, in particular, has struggled, while in South Africa trends have stabilized. Encouragingly, the e-commerce business segment saw better profitability despite continued investment in new…

Naspers' (NPN SJ) 1H17 results show continued traction on the top-line with revenues (adjusted for M&amp;A and FX changes) continuing to accelerate, albeit slightly below our expectations. Profitability is a key issue for investors and, as expected, the African PayTV business remains under pressure. Sub-Saharan Africa, in particular, has struggled, while in South Africa trends have stabilized. Encouragingly, the e-commerce business segment saw better profitability despite continued investment in new…

Naspers 1H17 Result Shows Encouraging Underlying Trends

The recent 3Q16 results from <a href="https://www.smartkarma.com/entities/22691" target="_blank" data-smartkarma-citation="entities:22691:1">Sina Corp (SINA US)</a> and <a href="https://www.smartkarma.com/entities/3826" target="_blank" data-smartkarma-citation="entities:3826:1">Weibo (WB US)</a> were largely in-line with NSR's forecasts, driven by continued market share gains in internet advertising. We like the fact that growth of revenue from key accounts (large businesses) is now larger than from SMEs. This indicates that Weibo is benefiting from the higher allocation of ad budgets at large companies towards social media.Also positive is the cost base rising by less than half the rate of top-line growth (+18% v +42%)…

The recent 3Q16 results from Sina Corp (SINA US) and Weibo (WB US) were largely in-line with NSR's forecasts, driven by continued market share gains in internet advertising. We like the fact that growth of revenue from key accounts (large businesses) is now larger than from SMEs. This indicates that Weibo is benefiting from the higher allocation of ad budgets at large companies towards social media.Also positive is the cost base rising by less than half the rate of top-line growth (+18% v +42%)…

Sina/Weibo: Ad Budgets Moving to Social Media

Thematic (Sector/Industry)

5G considerations have moved to centre stage for operators, vendors, policy makers and regulators globally in recent months as technology roadmaps become clearer. Distinct regional roadmaps are emerging, with network densification a key differentiator between markets. We view dense networks as a key enabler for 5G to succeed. On that basis, China, Japan, and South Korea already operating widespread dense wireless networks today giving them a low-cost route for the further spread of small cells…

5G considerations have moved to centre stage for operators, vendors, policy makers and regulators globally in recent months as technology roadmaps become clearer. Distinct regional roadmaps are emerging, with network densification a key differentiator between markets. We view dense networks as a key enabler for 5G to succeed. On that basis, China, Japan, and South Korea already operating widespread dense wireless networks today giving them a low-cost route for the further spread of small cells…

5G: Will Enhanced TD-LTE Become a Stepping Stone to 5G?

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

Alibaba continues to expand Double 11, its shopping event around Singles’ Day, a consumerist holiday meant for treating oneself. The 2016 version of the event was the retailer’s most extravagant and successful one yet. This year, Alibaba rebranded the shopping event from “Double 11” to “The 11/11 Global Shopping Festival”. Based on this rebranding and its surrounding marketing and promotional events as well as the integration of the most up-and-coming technology, it is clear that the retailer does not simply plan on expanding the shopping event but instead plans on leveraging the event to expand its business globally.

Alibaba continues to expand Double 11, its shopping event around Singles’ Day, a consumerist holiday meant for treating oneself. The 2016 version of the event was the retailer’s most extravagant and successful one yet. This year, Alibaba rebranded the shopping event from “Double 11” to “The 11/11 Global Shopping Festival”. Based on this rebranding and its surrounding marketing and promotional events as well as the integration of the most up-and-coming technology, it is clear that the retailer does not simply plan on expanding the shopping event but instead plans on leveraging the event to expand its business globally.

How Alibaba's 11/11 Global Shopping Festival Represents the Future of Ecommerce

Asia and Global Semiconductor and Tech Research

Andrew Lu

<h2>Summary</h2><ul>
<li>
BB ratio down to 0.91 for the first time in four-year and below parity in 11 months: North America-based manufacturers of semiconductor equipment posted $1.49 billion in orders worldwide in October 2016 (three-month average basis) and a book-to-bill ratio of 0.91, according to SEMI.</li>
<li>
Sign of a downturn? For the time being, we identify the downturn as a seasonal one.  However, we would be cautious after Philadelphia and Taiwan Semiconductor index both reached record high levels.</li>
<li>
Checkpoint…</li>
</ul>

Summary

BB ratio down to 0.91 for the first time in four-year and below parity in 11 months: North America-based manufacturers of semiconductor equipment posted $1.49 billion in orders worldwide in October 2016 (three-month average basis) and a book-to-bill ratio of 0.91, according to SEMI.

Sign of a downturn? For the time being, we identify the downturn as a seasonal one.  However, we would be cautious after Philadelphia and Taiwan Semiconductor index both reached record high levels.

Checkpoint…


N.A. Semiconductor Equipment BB Ratio to Four Year Low - Sign of a Downturn?

China

Tencent Holdings Limited operates as an investment holding company. The Company, through its subsidiaries, provides Internet and mobile value-added services (VAS), online advertising, and e-commerce transactions. Tencent Holdings offers services to users worldwide.

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Tencent (700 HK)

Naspers 1H17 Result Shows Encouraging Underlying Trends

Naspers' (NPN SJ) 1H17 results show continued traction on the top-line with revenues (adjusted for M&A and FX changes) continuing to...

New Street Research

5G: Will Enhanced TD-LTE Become a Stepping Stone to 5G?

5G considerations have moved to centre stage for operators, vendors, policy makers and regulators globally in recent months as technology roadmaps...

New Street Research

How Alibaba's 11/11 Global Shopping Festival Represents the Future of Ecommerce

Alibaba continues to expand Double 11, its shopping event around Singles’ Day, a consumerist holiday meant for treating oneself. The 2016 version...

Euromonitor International Ltd.

N.A. Semiconductor Equipment BB Ratio to Four Year Low - Sign of a Downturn?

Summary BB ratio down to 0.91 for the first time in four-year and below parity in 11 months: North America-based manufacturers of semiconductor...

Andrew Lu

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Naspers 1H17 Result Shows Encouraging Underlying Trends

Naspers' (NPN SJ) 1H17 results show continued traction on the top-line with revenues (adjusted for M&A and FX changes) continuing to...

New Street Research

Sina/Weibo: Ad Budgets Moving to Social Media

The recent 3Q16 results from Sina Corp (SINA US) and Weibo (WB US) were largely in-line with NSR's forecasts, driven by continued market share...

New Street Research

5G: Will Enhanced TD-LTE Become a Stepping Stone to 5G?

5G considerations have moved to centre stage for operators, vendors, policy makers and regulators globally in recent months as technology roadmaps...

New Street Research

How Alibaba's 11/11 Global Shopping Festival Represents the Future of Ecommerce

Alibaba continues to expand Double 11, its shopping event around Singles’ Day, a consumerist holiday meant for treating oneself. The 2016 version...

Euromonitor International Ltd.

N.A. Semiconductor Equipment BB Ratio to Four Year Low - Sign of a Downturn?

Summary BB ratio down to 0.91 for the first time in four-year and below parity in 11 months: North America-based manufacturers of semiconductor...

Andrew Lu