Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Thematic (Sector/Industry)

<p><a href="https://www.smartkarma.com/entities/13644" target="_blank" data-smartkarma-citation="entities:13644:1">Coach Inc (COH US)</a> fell another -2.3% today in the US after an analyst downgrade, and the stock is down -14.4% since reporting unexciting Q4 FY16 earnings results on the morning of August 9th. We remain bearish on the stock; in our view, the Street's sales and earnings estimates for FY17 and FY18 remain far too optimistic given weaker spending by Asian tourists in the US and overly aggressive Street assumptions for Japanese and Chinese consumer spending. We also believe that COH will struggle to…</p>

Coach Inc (COH US) fell another -2.3% today in the US after an analyst downgrade, and the stock is down -14.4% since reporting unexciting Q4 FY16 earnings results on the morning of August 9th. We remain bearish on the stock; in our view, the Street's sales and earnings estimates for FY17 and FY18 remain far too optimistic given weaker spending by Asian tourists in the US and overly aggressive Street assumptions for Japanese and Chinese consumer spending. We also believe that COH will struggle to…

July Tourism & Macro Data Suggest Coach Q1 FY17 Will Disappoint

Independent TMT Analyst

Edison Lee, CFA

Equity Bottom-Up

Alibaba Group Holding  / Equity Bottom-Up

<ul>
<li>On July 22, <a href="https://www.smartkarma.com/entities/20724" target="_blank" data-smartkarma-citation="entities:20724:1">Alibaba Pictures Group Ltd (1060 HK)</a> issued a profit warning for 1H2016, saying its net loss for the period would be Rmb400m to Rmb450m (US$60m to 67m) driven by marketing costs related to Taobao Movie Tickets.</li>
<li>Alibaba Pictures incurred an operating loss of Rmb395m (U$59m) in 2015, and will unlikely see any profits in the near term owing to its efforts to build an integrated, Internet-based entertainment media platform.</li>
<li>However, no matter how much loss Alibaba Pictures will incur, it…</li>
</ul>


On July 22, Alibaba Pictures Group Ltd (1060 HK) issued a profit warning for 1H2016, saying its net loss for the period would be Rmb400m to Rmb450m (US$60m to 67m) driven by marketing costs related to Taobao Movie Tickets.
Alibaba Pictures incurred an operating loss of Rmb395m (U$59m) in 2015, and will unlikely see any profits in the near term owing to its efforts to build an integrated, Internet-based entertainment media platform.
However, no matter how much loss Alibaba Pictures will incur, it…


Alibaba Pictures' Profit Warning - Positive for Alibaba Group Holdings

Hong Kong

Alibaba Pictures Group Ltd. produces and invests in television programming and motion pictures in China.

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Alibaba Pictures (1060 HK)

July Tourism & Macro Data Suggest Coach Q1 FY17 Will Disappoint

Coach Inc (COH US) fell another -2.3% today in the US after an analyst downgrade, and the stock is down -14.4% since reporting unexciting Q4 FY16...

Daniel Hellberg

Alibaba Pictures' Profit Warning - Positive for Alibaba Group Holdings

On July 22, Alibaba Pictures Group Ltd (1060 HK) issued a profit warning for 1H2016, saying its net loss for the period would be Rmb400m to...

Edison Lee, CFA

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