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Smartkarma Daily Briefs

Jul 18
0

Daily Brief Indonesia: Ciputra Development and more

By | Daily Briefs, Indonesia

In today’s briefing:

  • Ciputra Development (CTRA IJ) – Riding the Affordability Wave

Ciputra Development (CTRA IJ) – Riding the Affordability Wave

By Angus Mackintosh

  • Ciputra Development (CTRA IJ) continued to book strong marketing sales in 1H2024 and looks well on track to meet or beat its FY2024E guidance with a strong pipeline of projects.
  • CTRA has the most geographically diversified portfolios in the sector and operates an asset-light joint operating scheme strategy allowing for faster expansion and a good portion of recurrent rental income. 
  • The VAT exemption program looks set to continue to drive residential demand in 2H2024 with CTRA riding the affordability wave having also repositioned its target market. 

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Jul 18
0

Daily Brief India: Hyundai Motor India , Cantabil Retail India and more

By | Daily Briefs, India

In today’s briefing:

  • Hyundai Motor India Pre-IPO – Peer Comparison – Doesn’t Stand Out
  • The Beat Ideas: What Makes Cantabil Retail an Interesting Bet on the Apparel Market?

Hyundai Motor India Pre-IPO – Peer Comparison – Doesn’t Stand Out

By Sumeet Singh

  • Hyundai Motor (005380 KS) is looking to raise around US$3bn via listing its India unit, Hyundai Motor India. HMI is a wholly owned subsidiary of the Hyundai Motor Group.
  • HMI primarily manufactures and sells four-wheeler passenger vehicles and parts. Currently its vehicle portfolio includes 13 passenger vehicle models across sedans, hatchbacks, SUVs and battery EVs.
  • In our previous note, we looked at the company’s past performance. In this note, we undertake a peer comparison.

The Beat Ideas: What Makes Cantabil Retail an Interesting Bet on the Apparel Market?

By Sudarshan Bhandari

  • Overall, Cantabil Retail is a well-managed company with a solid track record and a clear growth strategy. 
  • With a focus on expanding into new markets, maintaining high profitability, and strong promoter and FII confidence, Cantabil is poised for continued success in the Indian retail sector. 
  • Investors looking for a promising investment opportunity in the apparel industry should consider Cantabil Retail for its strong financial performance and growth potential.

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Jul 18
0

Daily Brief United States: Alphabet, Halliburton Co, Eventbrite Inc, Alcoa , Cadence Design Sys, Adeia, Alphabet , Longeveron , GameStop, Genuine Parts Co and more

By | Daily Briefs, United States

In today’s briefing:

  • [Q2 Earnings Preview] Google: Ad Revenue & Cloud Growth Plus AI Advancements in Focus
  • [Earnings Preview] Halliburton: Leans on International Operations Amid North American Weakness
  • EB: TikTok a New Momentum
  • Alcoa Corporation: Strategic Acquisition Of Alumina & 5 Pivotal Growth Drivers
  • Cadence Design Systems: Their Story Of Strategic Partnerships & Expansion through Mergers and Acquisitions! – Major Drivers
  • ADEA: License to Preview
  • Alphabet’s $23 Billion Bet On Wiz: What It Means for the Future of Google Cloud
  • LGVN: Alzheimer’s Drug on a Roll with FDA
  • GameStop: The Sinking Ship with a New Paint Job – Should You Board?
  • Genuine Parts Company: Strategic Acquisitions and Store Ownership in U.S. Automotive Sector As A Key Growth Lever! – Major Drivers

[Q2 Earnings Preview] Google: Ad Revenue & Cloud Growth Plus AI Advancements in Focus

By Uttkarsh Kohli

  • Google’s ad revenue growth consensus is 11.7% YoY in Q2, with some analysts projecting even higher, reflecting robust global digital ad spend trends.
  • Google Cloud’s revenue reached $9.5 billion in Q1 2024, marking a 35% YoY increase and a 4x growth over the past four years. Q2 expected to see continued growth. 
  • AI investments and innovations showcased at Google I/O aim to boost user experience and market leadership, with potential double-digit growth.

[Earnings Preview] Halliburton: Leans on International Operations Amid North American Weakness

By Suhas Reddy

  • Halliburton forecasts low double-digit revenue growth from its international business and flat revenue growth from North America in 2024.
  • Management expects sequential margin growth of 25-75 bps in its Drilling & Evaluation and Completion & Production segments in Q2 2024.
  • Halliburton expects its FCF to rise 10% YoY in 2024. The company returned nearly 60% of its FCF to shareholders in 2023.

EB: TikTok a New Momentum

By Hamed Khorsand

  • EB has teamed up with TikTok in an integration that could lead to a sharp increase in new creators and overall traffic on EB’s marketplace.
  • TikTok announced on its blog that EB has been integrated to allow content creators to manage and promote events within their TikTok content.
  • The integration would enable followers to purchase tickets to creators’ events straight from TikTok without having to leave the platform.

Alcoa Corporation: Strategic Acquisition Of Alumina & 5 Pivotal Growth Drivers

By Baptista Research

  • Alcoa Corporation recently reported its first quarter 2024 earnings, delivering a mix of strategic developments and financial results that reflect the company’s evolving business landscape.
  • The company announced a significant transaction, the acquisition of Alumina Limited, which is expected to consolidate its ownership in the Alcoa World Alumina and Chemicals joint venture.
  • This all-stock deal, valued at approximately $2.2 billion, aims to provide a streamlined corporate structure and enhance shareholder value.

Cadence Design Systems: Their Story Of Strategic Partnerships & Expansion through Mergers and Acquisitions! – Major Drivers

By Baptista Research

  • Cadence Design Systems, Inc. recently reported a strong start to the year 2024, announcing first-quarter results that surpassed expectations and raised the financial outlook for the remainder of the year.
  • Revenue for the quarter stood at $1.09 billion with non-GAAP earnings per share (EPS) reaching $1.17, underscoring a robust performance against the backdrop of dynamic market conditions.
  • The company cited a record backlog of $6 billion as a primary driver for its optimistic revenue outlook, attributing this in part to burgeoning trends across AI, automotive, and 5G technologies.

ADEA: License to Preview

By Hamed Khorsand

  • •It has been the summer of renewals at ADEA leading to a directionless stock since ADEA reported Q1 results. ADEA has announced several renewals, LBTYA, since the beginning of May
  • We are now more than two weeks into the third quarter lending credibility to why the shares have yet to react positively
  • We were already forecasting the probability of a new license occurring later in the year and are keeping our earnings estimates unchanged heading into ADEA reporting second quarter results.

Alphabet’s $23 Billion Bet On Wiz: What It Means for the Future of Google Cloud

By Baptista Research

  • Alphabet, Google’s parent company, has been buzzing all over Reddit and other platforms as the companyis on the brink of its largest acquisition ever, a $23 billion deal for cloud-based cybersecurity firm Wiz.
  • This acquisition, if completed, will significantly bolster Alphabet’s cybersecurity capabilities and enhance its Google Cloud services.
  • The potential benefits include strengthening its market position in cybersecurity and offering more integrated services to its cloud customers.

LGVN: Alzheimer’s Drug on a Roll with FDA

By Zacks Small Cap Research

  • Longeveron is focusing on using its primary treatment, Lomecel-B, to fight a rare pediatric heart birth defect that devastates families but continues to receive good FDA news regarding its treatment for Alzheimer’s Disease.
  • The company announced that Lomecel B has been granted the Fast Track designation by the FDA, only a week after being granted the RMAT designation, which we believe further demonstrates the positive momentum of LGVN.

GameStop: The Sinking Ship with a New Paint Job – Should You Board?

By Baptista Research

  • GameStop, once the epicenter of the retail investor revolution led by the enigmatic Roaring Kitty (Keith Gill), has seen a dramatic resurgence in attention.
  • Gill, who became famous for his substantial stake in GameStop during the 2021 meme stock frenzy, recently reappeared with jaw-dropping claims of substantial holdings in GameStop and Chewy.
  • However, the recent results and financial disclosures reveal a company that, despite superficial improvements, is fundamentally unstable.

Genuine Parts Company: Strategic Acquisitions and Store Ownership in U.S. Automotive Sector As A Key Growth Lever! – Major Drivers

By Baptista Research

  • Genuine Parts Company reported its first quarter 2024 earnings, showing progress and some headwinds across its business segments.
  • With a strong start to the year, the company reported total GPC sales of $5.8 billion, marking a slight increase compared to the previous year.
  • This comes against the backdrop of a previously strong first quarter in 2023.

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Jul 18
0

Daily Brief China: Hygeia Healthcare Group, ESR Group , NIO , Samson Holding, Dbg Technology, Distinct Healthcare Holdings, Xiaomi Corp and more

By | China, Daily Briefs

In today’s briefing:

  • Hong Kong: Stocks Facing the Passive Boot in August
  • Atla Global Management’s John Haskell on International Real Estate + ESR Group Thesis $1821.HK
  • China Autos Landscape Has Permanently Changed, Foreign Brands Have Lost Their Clout
  • Samson (531 HK): MBO Via A Scheme
  • Quiddity Leaderboard ChiNext & ChiNext 50 Dec 24: Multiple Ranking Changes; Double-Impacts for Some
  • Pre-IPO Distinct Healthcare Holdings-  Hard to Deliver the Expected Returns Due to Growth Bottleneck
  • Morning Views Asia: SM Investments, Xiaomi Corp

Hong Kong: Stocks Facing the Passive Boot in August

By Brian Freitas

  • There are a bunch of stocks listed in Hong Kong that have underperformed the HSCEI INDEX and their peers and could be deleted from global passive portfolios in August.
  • The deletion from passive portfolios will lead to a liquidity event at the end of August where passive trackers will need to sell multiple days of ADV.
  • There has been a big jump in cumulative excess volume in some stocks and the A/H premium on a lot of the names has jumped over the last few months.

Atla Global Management’s John Haskell on International Real Estate + ESR Group Thesis $1821.HK

By Yet Another Value Podcast

  • Andrew Walker hosts the podcast and introduces John Haskell, CIO at Ulta Global Management
  • Ulta Global focuses on international public real estate investing, particularly in emerging markets
  • Despite negative perception and underperformance in emerging markets, there are opportunities for value investing in international real estate

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

China Autos Landscape Has Permanently Changed, Foreign Brands Have Lost Their Clout

By Mohshin Aziz

  • Chinese auto brands commands 61% market share in May 2024, up from 7% in 2021. Its premium car market share has also risen to 25% from nothing  
  • The transition towards EV, swift adoption of technology and sleek designs has made traditional car makers (including luxury marquees) look antiquated and out of fashion compared to the Chinese brands  
  • Premium Chinese automakers LiAuto and NIO will benefit over long-term, whilst the foreign dealers and local-foreign JV OEMs will suffer over the long term. 

Samson (531 HK): MBO Via A Scheme

By David Blennerhassett

  • Furniture trader Samson Holding (531 HK) has announced a Scheme from Shan Huei Kuo, Samson’s Chairman. 
  • The Cancellation price is $0.48, a 50% to last close. The premium is more pronounced if going back a month. The price is final.
  • This looks done. But Samson is an illiquid micro cap.

Quiddity Leaderboard ChiNext & ChiNext 50 Dec 24: Multiple Ranking Changes; Double-Impacts for Some

By Janaghan Jeyakumar, CFA

  • The ChiNext Index represents the performance of the 100 largest and most liquid A-share stocks listed on the ChiNext Market of the Shenzhen Stock Exchange.
  • The ChiNext 50 index is a subset of the ChiNext Index and it consists of the top 50 names in the ChiNext index with the highest daily average turnover.
  • In this insight, we take a look at our latest rankings for ADDs and DELs for the upcoming index rebal event in December 2024.

Pre-IPO Distinct Healthcare Holdings-  Hard to Deliver the Expected Returns Due to Growth Bottleneck

By Xinyao (Criss) Wang

  • Due to industry characteristics, it would be difficult for Distinct Healthcare to scale up. The Company is more of “a supplementary role” in the entire medical service system in China.
  • Profit margin is not satisfactory and cost side is also difficult to reduce. Even if Distinct Healthcare successfully turns losses into profits, it’s hard to generate good returns for investors.
  • Post-Money valuation was US$510 million after Series E financing. For a company that would encounter bottlenecks in both revenue and profit growth, it would be difficult to achieve high valuation.

Morning Views Asia: SM Investments, Xiaomi Corp

By Leonard Law, CFA

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

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Jul 18
0

Daily Brief Japan: Koito Manufacturing, Kokusai Electric , Isetan Mitsukoshi Holdings Ltd, TSE Tokyo Price Index TOPIX, Toyo Tanso and more

By | Daily Briefs, Japan

In today’s briefing:

  • Koito Mfg (7276) Bounces The Same as It Bounced in March On the Same News – An Echo? Meh Again.
  • Kokusai Electric Placement Updates – Misbehaving
  • Isetan-Mitsukoshi Bets on Flagships and Real Estate
  • Women’s Empowerment in Japan Will Still Take a Considerable Amount of Time
  • Toyo Tanso (5310 JP): Q1 FY12/24 report update

Koito Mfg (7276) Bounces The Same as It Bounced in March On the Same News – An Echo? Meh Again.

By Travis Lundy

  • An interview in the Nikkei of Koito Manufacturing (7276 JP) CFO Takahito OTAKE offered the comment that Koito Mfg expected a shareholder return of 130% a year through March 2029.
  • The stock popped 19% after lunch on that comment, then fell back to end up 5.0%.
  • This is the same pop as we saw end-March. Then it was +24.6% and it stayed up the next day. Same reason for the pop. This was an echo.

Kokusai Electric Placement Updates – Misbehaving

By Sumeet Singh

  • KKR and KSP Kokusai Investments are looking to raise approximately US$1.7bn through an extended secondary follow-on offering, via selling approximately 22.3% of Kokusai Electric (6525 JP). 
  • We have looked at the lockup expiry and deal dynamics in our earlier notes.
  • In this note, we talk about share price performance since then.

Isetan-Mitsukoshi Bets on Flagships and Real Estate

By Michael Causton

  • Isetan Shinjuku expects to post sales in excess of ¥400 billion this year, a record for a single retail store, although most of the growth is from inbound tourists. 
  • But Isetan-Mitsukoshi is working to ensure longer term stability through more sophisticated databases and personalised marketing.
  • At the same time, it will make better use of real estate assets, investing ¥500 billion around Isetan Shinjuku alone.

Women’s Empowerment in Japan Will Still Take a Considerable Amount of Time

By Aki Matsumoto

  • Since Japan’s gender gap index ranks 118th out of 146 countries, stagnating in the lower group, it will take a considerable amount of time to resolve the issue.
  • A shortcut to the improvement of women’s status is to greatly improve the gender ratio in the legislature in order to change the current framework for improving women’s status.
  • Behind the lagging 103rd place in the ratio of female managers is the lack of progress in higher education for women.

Toyo Tanso (5310 JP): Q1 FY12/24 report update

By Shared Research

  • Q1 FY12/24 results: Revenue JPY12.6bn (+11.2% YoY), Operating profit JPY2.5bn (+19.1% YoY), Net income JPY2.4bn (+29.8% YoY).
  • Orders and backlog: Orders JPY12.0bn (+7.6% YoY), Order backlog JPY17.4bn (+9.1% YoY), driven by semiconductor-related applications.
  • FY12/24 forecast: Revenue JPY54.0bn (+9.6% YoY), Operating profit JPY10.9bn (+17.4% YoY), Capital investment JPY16.0bn (JPY5.7bn in FY12/23).

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Jul 18
0

Daily Brief Utilities: Gulf Energy Development and more

By | Daily Briefs, Utilities Sector

In today’s briefing:

  • Gulf (GULF TB)/Intouch (INTUCH TB) Merger and ADVANC/THCOM VTOs

Gulf (GULF TB)/Intouch (INTUCH TB) Merger and ADVANC/THCOM VTOs

By Arun George

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Jul 18
0

Daily Brief Energy/Materials: SK Innovation, Coal, Halliburton Co, Alcoa , Kinder Morgan, VAALCO Energy and more

By | Daily Briefs, Energy & Materials Sector

In today’s briefing:

  • SK Innovation & SK E&S Merger Official Disclosure: Unexpected Merger Ratio
  • Warren Irwin on Uranium, Canada & Contrarian Opportunities
  • [Earnings Preview] Halliburton: Leans on International Operations Amid North American Weakness
  • Alcoa Corporation: Strategic Acquisition Of Alumina & 5 Pivotal Growth Drivers
  • Kinder Morgan: Energy Demand from Data Centers and AI Driving Growth! – Major Drivers
  • VAALCO Energy (NYSE: EGY): Increased reserves and resources estimate in Cote d’Ivoire

SK Innovation & SK E&S Merger Official Disclosure: Unexpected Merger Ratio

By Sanghyun Park

  • The merger ratio, not as unfavorable to SK Innovation as feared, shows SK Group acting cautiously amid political and regulatory scrutiny.
  • SK Inc.’s stake will drop to mid-60s; the 1.2x merger ratio for SK E&S could positively affect SK Innovation’s stock price short-term.
  • Persuading KKR is crucial. SK E&S won’t convert ₩3T in RCPS or grant appraisal rights, potentially leading KKR to consider litigation, a significant risk to the merger.

Warren Irwin on Uranium, Canada & Contrarian Opportunities

By Money of Mine

  • Recent changes in Canada’s M&A rules have restricted critical metal companies from selling to Chinese investors
  • Chinese investors have played a key role in funding the exploration and development of copper porphyries, which are vital for global production
  • The uncertainty caused by these rules may lead companies to relocate outside of Canada, potentially harming the country’s mining industry and economy

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

[Earnings Preview] Halliburton: Leans on International Operations Amid North American Weakness

By Suhas Reddy

  • Halliburton forecasts low double-digit revenue growth from its international business and flat revenue growth from North America in 2024.
  • Management expects sequential margin growth of 25-75 bps in its Drilling & Evaluation and Completion & Production segments in Q2 2024.
  • Halliburton expects its FCF to rise 10% YoY in 2024. The company returned nearly 60% of its FCF to shareholders in 2023.

Alcoa Corporation: Strategic Acquisition Of Alumina & 5 Pivotal Growth Drivers

By Baptista Research

  • Alcoa Corporation recently reported its first quarter 2024 earnings, delivering a mix of strategic developments and financial results that reflect the company’s evolving business landscape.
  • The company announced a significant transaction, the acquisition of Alumina Limited, which is expected to consolidate its ownership in the Alcoa World Alumina and Chemicals joint venture.
  • This all-stock deal, valued at approximately $2.2 billion, aims to provide a streamlined corporate structure and enhance shareholder value.

Kinder Morgan: Energy Demand from Data Centers and AI Driving Growth! – Major Drivers

By Baptista Research

  • Kinder Morgan reported a robust performance for the recent quarter, indicating positive trends in several key areas, while also outlining challenges and broader economic impacts that could shape future operations.
  • The company demonstrated a healthy financial position with a 13% increase in adjusted earnings per share (EPS) and a 7% rise in EBITDA.
  • The enhanced financial metrics were primarily driven by strong contributions from the Natural Gas and Refined Products segments.

VAALCO Energy (NYSE: EGY): Increased reserves and resources estimate in Cote d’Ivoire

By Auctus Advisors

  • • The YE23 SEC net 1P reserves in Cote d’Ivoire are estimated at 16.9 mmboe; which compares very favorably with the previous estimate for the WI 1P reserves of 13 mmboe (as of 01/10/2023).
  • • The YE23 WI 2P reserves are now estimated at 22.5 mmboe.
  • Adding back production over November and December 2023 (assuming ~5 mbbl/d production), the new estimate represents an increase of ~1.1 mmboe vs the previous estimate of 21.7 mmboe at the end of October 2023.

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Jul 18
0

Daily Brief TMT/Internet: Intouch Holdings, Taiwan Semiconductor (TSMC) – ADR, Kokusai Electric , Advanced Info Service, Dbg Technology, Alphabet, Sino American Silicon Products, ASML Holding NV, Eventbrite Inc and more

By | Daily Briefs, TMT/Internet

In today’s briefing:

  • Cascading Takeunders for INTUCH, ADVANC, and THCOM as GULF TB Seeks To “Restructure”
  • GULF-INTUCH Amalgamation
  • Taiwan Dual-Listings Monitor: TSMC Rebounds After Sharp Breakdown; ASE Major Premium Breakdown
  • Kokusai Electric Placement Updates – Misbehaving
  • GULF/INTUCH Merger & ADVANC/THCOM VTO’s
  • Quiddity Leaderboard ChiNext & ChiNext 50 Dec 24: Multiple Ranking Changes; Double-Impacts for Some
  • [Q2 Earnings Preview] Google: Ad Revenue & Cloud Growth Plus AI Advancements in Focus
  • Tech Supply Chain Tracker (18-Jul-2024): GlobalWafers gets $400M CHIPS Act funds.
  • ASML Holding N.V.: Will The Prebuilding Strategy to Manage Supply Chain and Demand Pay Off? – Major Drivers
  • EB: TikTok a New Momentum

Cascading Takeunders for INTUCH, ADVANC, and THCOM as GULF TB Seeks To “Restructure”

By Travis Lundy

GULF-INTUCH Amalgamation

By Waraporn Wiboonkanarak

  • The amalgamation will entail the ratios for allocations of shares in the NewCo to the shareholders of GULF and INTUCH as detailed below.
  • The amalgamation process and the establishment of the NewCo are expected to be completed in 2Q25.
  • The restructuring is aimed at reducing duplication in the shareholding structure and facilitating growth opportunities in the energy, infrastructure, and digital businesses.

Taiwan Dual-Listings Monitor: TSMC Rebounds After Sharp Breakdown; ASE Major Premium Breakdown

By Vincent Fernando, CFA

  • TSMC: +17.9% Premium; Rebounds After Brief Breakdown; Wait for Better Levels
  • UMC: +1.8% Premium; Can Consider Shorting the Premium at Current Level
  • ASE: +5.5% Premium Represents a Major Breakdown; Can Consider Going Long

Kokusai Electric Placement Updates – Misbehaving

By Sumeet Singh

  • KKR and KSP Kokusai Investments are looking to raise approximately US$1.7bn through an extended secondary follow-on offering, via selling approximately 22.3% of Kokusai Electric (6525 JP). 
  • We have looked at the lockup expiry and deal dynamics in our earlier notes.
  • In this note, we talk about share price performance since then.

GULF/INTUCH Merger & ADVANC/THCOM VTO’s

By Brian Freitas

Quiddity Leaderboard ChiNext & ChiNext 50 Dec 24: Multiple Ranking Changes; Double-Impacts for Some

By Janaghan Jeyakumar, CFA

  • The ChiNext Index represents the performance of the 100 largest and most liquid A-share stocks listed on the ChiNext Market of the Shenzhen Stock Exchange.
  • The ChiNext 50 index is a subset of the ChiNext Index and it consists of the top 50 names in the ChiNext index with the highest daily average turnover.
  • In this insight, we take a look at our latest rankings for ADDs and DELs for the upcoming index rebal event in December 2024.

[Q2 Earnings Preview] Google: Ad Revenue & Cloud Growth Plus AI Advancements in Focus

By Uttkarsh Kohli

  • Google’s ad revenue growth consensus is 11.7% YoY in Q2, with some analysts projecting even higher, reflecting robust global digital ad spend trends.
  • Google Cloud’s revenue reached $9.5 billion in Q1 2024, marking a 35% YoY increase and a 4x growth over the past four years. Q2 expected to see continued growth. 
  • AI investments and innovations showcased at Google I/O aim to boost user experience and market leadership, with potential double-digit growth.

Tech Supply Chain Tracker (18-Jul-2024): GlobalWafers gets $400M CHIPS Act funds.

By Tech Supply Chain Tracker

  • GlobalWafers secures $400M from CHIPS Act to boost semiconductor production amid global chip shortage.
  • Samsung intensifies focus on wearable device sales with new strategies to adapt to declining demand in market.
  • Acer targets Indian smartphone market with white-label approach and Qualcomm teams up with Microsoft to innovate PCs using AI technology.

ASML Holding N.V.: Will The Prebuilding Strategy to Manage Supply Chain and Demand Pay Off? – Major Drivers

By Baptista Research

  • ASML Holding NV has released its financial results for the first quarter of 2024, highlighting a combination of achievements and forecasts that paint a detailed picture of the company’s current and future trajectory.
  • In terms of financial performance, ASML reported total net sales of EUR 5.3 billion, which aligns with the company’s previous guidance.
  • The revenue from 11 EUV (extreme ultraviolet) systems constituted EUR 1.8 billion of the total net sales.

EB: TikTok a New Momentum

By Hamed Khorsand

  • EB has teamed up with TikTok in an integration that could lead to a sharp increase in new creators and overall traffic on EB’s marketplace.
  • TikTok announced on its blog that EB has been integrated to allow content creators to manage and promote events within their TikTok content.
  • The integration would enable followers to purchase tickets to creators’ events straight from TikTok without having to leave the platform.

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Jul 18
0

Daily Brief Industrials: Hyundai Glovis, Sanil Electric, Csx Corp, Toyo Tanso and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Trading Opportunities Arising from the Enactment of The “Doosan Bobcat Prevention Law”
  • Sanil Electric IPO Book Building Results Analysis
  • CSX Corporation: How They Are Looking To Expand Their Business Through Strategic Partnerships and Network Collaboration! – Major Drivers
  • Toyo Tanso (5310 JP): Q1 FY12/24 report update

Trading Opportunities Arising from the Enactment of The “Doosan Bobcat Prevention Law”

By Sanghyun Park

  • Korea’s majority party plans to amend the Capital Markets Act to base listed companies’ merger ratios on intrinsic rather than market value, dubbed the “Doosan Bobcat Prevention Law.”
  • Other conglomerates, like Hanwha and Hyundai Motor Group, may execute mergers just before this amendment.
  • We should expect shareholder-favorable merger ratios. So, we should position in such companies before announcements, ideally just before the new amendment’s enforcement.

Sanil Electric IPO Book Building Results Analysis

By Douglas Kim

  • Sanil Electric reported excellent IPO book building results. The IPO price has been determined at 35,000 won, which is 16.7% higher than the high end of the IPO price range.
  • The demand ratio from 2,205 institutional investors was 414 to 1. Sanil Electric (062040 KS) IPO will start trading on 29 July 2024. 
  • Our base case valuation of Sanil Electric is market cap of 1.8 trillion won or target price of 58,593 won (67% higher than the IPO price of 35,000 won).

CSX Corporation: How They Are Looking To Expand Their Business Through Strategic Partnerships and Network Collaboration! – Major Drivers

By Baptista Research

  • CSX Corporation reported mixed financial results for the first quarter of 2024, demonstrating solid operational performance amid various challenges including severe weather and infrastructure disruptions.
  • The company recorded a total volume increase of 3% driven primarily by a 7% growth in its Intermodal business.
  • Despite this growth in volume, revenue declined slightly by approximately 1% year over year to just under $3.7 billion, influenced by lower fuel surcharges and changes in mix.

Toyo Tanso (5310 JP): Q1 FY12/24 report update

By Shared Research

  • Q1 FY12/24 results: Revenue JPY12.6bn (+11.2% YoY), Operating profit JPY2.5bn (+19.1% YoY), Net income JPY2.4bn (+29.8% YoY).
  • Orders and backlog: Orders JPY12.0bn (+7.6% YoY), Order backlog JPY17.4bn (+9.1% YoY), driven by semiconductor-related applications.
  • FY12/24 forecast: Revenue JPY54.0bn (+9.6% YoY), Operating profit JPY10.9bn (+17.4% YoY), Capital investment JPY16.0bn (JPY5.7bn in FY12/23).

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Jul 18
0

Daily Brief Health Care: Hygeia Healthcare Group, Longeveron , Distinct Healthcare Holdings and more

By | Daily Briefs, Healthcare

In today’s briefing:

  • Hong Kong: Stocks Facing the Passive Boot in August
  • LGVN: Alzheimer’s Drug on a Roll with FDA
  • Pre-IPO Distinct Healthcare Holdings-  Hard to Deliver the Expected Returns Due to Growth Bottleneck

Hong Kong: Stocks Facing the Passive Boot in August

By Brian Freitas

  • There are a bunch of stocks listed in Hong Kong that have underperformed the HSCEI INDEX and their peers and could be deleted from global passive portfolios in August.
  • The deletion from passive portfolios will lead to a liquidity event at the end of August where passive trackers will need to sell multiple days of ADV.
  • There has been a big jump in cumulative excess volume in some stocks and the A/H premium on a lot of the names has jumped over the last few months.

LGVN: Alzheimer’s Drug on a Roll with FDA

By Zacks Small Cap Research

  • Longeveron is focusing on using its primary treatment, Lomecel-B, to fight a rare pediatric heart birth defect that devastates families but continues to receive good FDA news regarding its treatment for Alzheimer’s Disease.
  • The company announced that Lomecel B has been granted the Fast Track designation by the FDA, only a week after being granted the RMAT designation, which we believe further demonstrates the positive momentum of LGVN.

Pre-IPO Distinct Healthcare Holdings-  Hard to Deliver the Expected Returns Due to Growth Bottleneck

By Xinyao (Criss) Wang

  • Due to industry characteristics, it would be difficult for Distinct Healthcare to scale up. The Company is more of “a supplementary role” in the entire medical service system in China.
  • Profit margin is not satisfactory and cost side is also difficult to reduce. Even if Distinct Healthcare successfully turns losses into profits, it’s hard to generate good returns for investors.
  • Post-Money valuation was US$510 million after Series E financing. For a company that would encounter bottlenecks in both revenue and profit growth, it would be difficult to achieve high valuation.

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