Smartkarma Daily Briefs

The theory is that stocks which are down hard FY-to-date by end-April end up being good sells because Australians will harvest their losses into end-June.
The idea is then to buy those oversold names and hold them for 30-40 trading days. That has worked 10 out of the last 12 years hedged vs ASX200.
This year, the “sold-down” list is very heavily weighted to miners. They have continued to fall since end-June so it’s down. But hedged vs a basket of miners? It’s up.

J Tower (4485) – Once Ambitious, Still High Growth, Sells Itself Low/Cheapish.

JTower (4485 JP) IPOed itself Dec-2019 at ¥1,600/share. An 8-bagger in a year, fell by half, doubled, fell 70%, then doubled, fell 35%, up 50%. That’s the first 3yrs.
Since then, the trend has been lower. The stock is down 80+% in 2 years, especially painful after an equity raise at just under ¥5,000 6 months ago.
But the stock today closed at ¥1,430, and the Tender Offer is at ¥3,600. A 150% premium. That’s big, but it may be “too low.” An interesting case.

JTOWER (4485 JP): DigitalBridge’s 162% Takeover Premium Offer Is Opportunistic

By Arun George

JTower (4485 JP) has recommended a tender offer from DigitalBridge Group (DBRG US) at JPY3,600, a 161.8% premium to the undisturbed price of JPY1,375 (13 August).
Despite the hefty takeover premium, the offer is light (compared to historical trading ranges and the recent placement) and opportunistically timed (the share price has fallen 61% since 9 May).
Nevertheless, barring a spurt of activism, the offer should succeed as the required 40.7% minority acceptance rate is not onerous and should be comfortably met by Japanese cross-holders.

Quiddity Leaderboard MV Jr Gold Miners Sep 24: Mergers Mean Possible Up-And-Out DELETEs

The MV J-Gold Miners index represents the performance small-cap gold and silver mining companies listed around the world.
This index is reviewed semi-annually in March and September. During these reviews, names can be added or deleted from the index.
In this insight, we take a look at the latest lists of potential ADDs and DELs for the index rebal event in September 2024.

SET50 Index Rebalance Preview: Four Changes & A Few Close Names

By Brian Freitas

Couple of weeks from the start of the review period for the December rebalance of SET 50 Index, we see four potential index changes.
There are a few stocks that are close to the inclusion zone and there could be a reordering among the non-constituents as stock prices move around.
The potential adds have outperformed the potential deletes since the start of the year with most of the outperformance coming over the last 6 weeks.

Piolax (5988 JP): Murakami Becomes a Substantial Shareholder

By Arun George

Murakami’s entities, City Index Eleventh and City Index Third, reported a 5.05% position in Piolax Inc (5988 JP). The purchases were from 11 June to 6 August over 60 days.
Murakami’s average buy-in price over the last 60 days was JPY2,286.61 per share, a 0.7% discount to the last close price.
Murakami’s disclosure suggests two possibilities: the start of an activist campaign or a short-term pump-and-dump play. The former is likely as Piolax is cash-rich with a P/B less than 1x.

BusinessOn Communication (138580 KS): SkyLake’s Delisting Offer

By David Blennerhassett

On the 25th July, SkyLake Equity Partners acquired a 46.9% stake from Praxis Capital Partners in BusinessOn Communication (138580 KS), Korea’s leading B2B SaaS company; plus 24.3% from BusinessOn’s management.
SkyLake has now launched a Tender Offer for 28.94% of BusinessOn. The Tender offer price is ₩15,849/share.
Super clean deal. SkyLake will acquire all shares tendered. There is no minimum tendering % condition.

Midea A/H Listing – Getting Closer to the US$3bn+ Raising, Has a Narrow Window

By Sumeet Singh

Midea Group Co Ltd A (000333 CH) one of the world’s largest home appliance producers, aims to raise up to US$3bn in its H-share listing.
Midea Group is one of the world’s largest home appliance manufacturing companies with a presence in over 200 countries. Its A-shares have been listed since 2013.
We have covered the company and deal background in our previous notes. In this note, we talk about the updates since then.

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Aug 15

Daily Brief Crypto: No Pain and more

By Smartkarma Daily Briefs | Crypto, Daily Briefs

In today’s briefing:

No Pain, No Gain

No Pain, No Gain

By Delphi Digital

Survive the purge, seize the opportunity: Last week’s extreme market volatility presents exceptional forward-looking opportunities for those who remain resilient.
Liquidation waves: A path to equilibrium: Learn how major market disturbances like last week’s can create ripples that take time to settle, offering strategic consolidation points.
Unlocks and ETF flows: What’s next for crypto? Discover how upcoming token unlocks and recent ETF trends may shape the near-term outlook for key crypto assets.

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Aug 15

Daily Brief Equity Bottom-Up: The Beat Ideas- Authum 2.0: A New Era in Financial Services! and more

By Smartkarma Daily Briefs | Daily Briefs, Equity Bottom-Up

In today’s briefing:

The Beat Ideas- Authum 2.0: A New Era in Financial Services!
Tencent (700 HK): 2Q24, Gross Margins of All Business Lines Improved Significantly
Appier (4180) | The Hidden Gem in AI Marketing
HD Hyundai: Updated NAV Analysis
Floor & Decor Holdings Inc.: A Bear’s Perspective! – Major Drivers
Tencent 2Q: Recent Launch of DnF Mobile Helps Domestic Gaming Return to Growth
TSMC (2330-TT): Revisiting Previous Bullish Themes Following Outperformance
Shift Up: 2Q 2024 Results Analysis
[Earnings Review] Occidental Beats Q2 Estimates with Boosted Output and Stronger Realisations
Fu Shou Yuan (1448.HK) – Negative Growth in 24H1 Seems Inevitable

The Beat Ideas- Authum 2.0: A New Era in Financial Services!

By Sudarshan Bhandari

Transformation of the company from Equity investment driven to Equity and stress business.
Complete restructuring of Reliance Capital and Reliance Home Finance into Authum and Focus on ARC and stressed assets.
Recoveries in completely provided portfolios of Reliance Capital, Planned debt fundraise for further growth.

Tencent (700 HK): 2Q24, Gross Margins of All Business Lines Improved Significantly

By Ming Lu

Total revenue increased by 8% YoY in 2Q24, lightly higher than 1Q24 and 4Q23.
The gross margins of all business lines Improved significantly YoY.
We set the upside at 35% and the price target at HK$506 for the end of 2025. Buy.

Appier (4180) | The Hidden Gem in AI Marketing

By Mark Chadwick

Appier achieved 32% YoY sales growth in Q2, driven by strong US market performance and balanced revenue from both new and existing customers.
The company’s EBITDA margin improved to 13%, reflecting strong operating leverage despite ongoing investments in growth initiatives.
Trading at a 2.9x EV/FY25 revenue multiple, Appier is undervalued relative to peers, with significant upside potential from sustained growth and strategic initiatives.

HD Hyundai: Updated NAV Analysis

According to our NAV analysis, it suggests a base case valuation of 122,473 won per share for HD Hyundai, representing a 50% upside from current levels.
The combined value of HD Korea Shipbuilding & Offshore Engineering, HD Hyundai Electric & Energy, and HD Hyundai Marine Solution is 11.4 trillion won.
We estimate HD Hyundai’s 73.85% stake in Hyundai Oilbank to be 7.0 trillion won. We also applied a 5x OP of its core business and a 50% holdco discount.

Floor & Decor Holdings Inc.: A Bear’s Perspective! – Major Drivers

By Shifara Samsudeen, ACMA, CGMA

Floor & Decor Holdings, Inc. navigated the fiscal second quarter of 2024 with outcomes that reflected the broader economic challenges impacting the retail and real estate sectors.
In the quarter under review, the company reported a dip in both total sales and comparable store sales which fell slightly short of expectations.
This mirrored the continuing pressures from taut monetary policies adversely affecting housing market activities and discretionary spending on major projects.

Tencent 2Q: Recent Launch of DnF Mobile Helps Domestic Gaming Return to Growth

Tencent (700 HK) reported 2Q2024 results today which beat consensus. Domestic gaming resumed growth driven by the successful launch of DnF Mobile which continues to dominate charts in China.
All three business segments saw improvement in margins driven by Tencent’s high-margin businesses incl. mini-programs, video accounts, short-videos, etc.
We expect continued recovery in Tencent’s earnings, however, remain cautious given slowdown in consumption spending and macroeconomic uncertainties.

TSMC (2330-TT): Revisiting Previous Bullish Themes Following Outperformance

By Wium Malan, CFA

Taiwan Semiconductor (TSMC) (2330 TT) has significantly outperformed this year, driven by a global AI-driven tailwind resulting in substantial revenue growth acceleration and a significant earnings upgrade cycle.
Record levels of FCF generation have supported dividend increases, and whilst future DPS expectations seem conservative, the current dividend yield suggests future increases have been priced in.
TSMC trades just above its 5-year historic average trading levels and at a premium to its key competitors, other smaller listed foundries, its main customers, and large suppliers.

Shift Up: 2Q 2024 Results Analysis

On 14 August, Shift Up (462870 KS) reported its 2Q 2024 results, which was the first earnings report post its IPO.
Shift Up reported sales of 65.2 billion won (up 65.4% YoY and 19.5% below consensus) and OP of 45.1 billion won (up 49% YoY and 21.4% below consensus) in 2Q24.
The company is preparing for a PC release of Stellar Blade in the near future to continue its strong popularity and it expects better results on PC than on console.

[Earnings Review] Occidental Beats Q2 Estimates with Boosted Output and Stronger Realisations

By Suhas Reddy

Occidental’s Q2 revenue grew 1.7% YoY but missed estimates by 1.7%. Net profit surged by 34.9% YoY and beat estimates by 32.5%.
Total production rose by 3.3% YoY led by robust growth in the Permian and Gulf of Mexico. Production touched its highest in four years.
Average crude oil realisations rose 8.6% YoY, and natural gas increased by 11.3%, while domestic gas realisations fell sharply by 60.3% YoY.

Fu Shou Yuan (1448.HK) – Negative Growth in 24H1 Seems Inevitable

By Xinyao (Criss) Wang

According to the management, the performance of 24H1 should be better than that of 21H1, but Fu Shou Yuan’s performance in 2024 full year may still fall short of expectations.
In the future, the development strategy of Fu Shou Yuan would rely more on endogenous growth. Without aggressive M&A, long-term revenue growth rate could fall to single digit.
Special dividends will continue in the future. However, one major risk for Fu Shou Yuan is policy risk. The bottom line is the demand for the funeral industry always exists.

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Aug 15

Daily Brief Macro: Modern Monetary Theory (MMT) Revisited and more

By Smartkarma Daily Briefs | Daily Briefs, Macro

In today’s briefing:

Modern Monetary Theory (MMT) Revisited
CX Daily: Chinese Shippers’ Diverging Fortunes
Indonesia Economics: Even with Headline Stability, Watch for More Policy Uncertainty
[IO Weekly 2024/32] Chinese Economic Sentiment Sours, Driving Iron Ore Lower; Option Activity Surges
Fundamental Changes Reflected from Recent Market Turbulence
Taiwan: Rates to Buck Global Loosening as Growth Stays Robust and Inflation Too High
UK Services CPI Realigns With Trend
New Zealand Policy Rate 5.25% (consensus 5.5%) in Aug-24

Modern Monetary Theory (MMT) Revisited

By Alex Ng

The inflationary implications of Modern Monetary theory have finally been exposed in the aftermath of the COVID-19 pandemic after 2022
The risks of inflation were underplayed due to prolonged disinflationary impulses stemming from decades of globalisation. Recent US practice of MMT could force the Fed to raise its inflation target.
Japan pursued an MMT framework since 2013, but the continuation of quantitative easing and arrival of rising inflation is undermining the yen. The Eurozone faces the same predicament as Japan.

CX Daily: Chinese Shippers’ Diverging Fortunes

By Caixin Global

Shipping / In Depth: Chinese shippers’ diverging fortunes
Macao / Macao takes aim at currency exchange services for gamblers
Personnel / Securities watchdog official named head of Shenzhen Exchange

Indonesia Economics: Even with Headline Stability, Watch for More Policy Uncertainty

By Manu Bhaskaran

Indonesia’s 2Q24 GDP continues the pattern of recent years of remarkably stable growth, but other data paint a more mixed picture when it comes to underlying demand.
Changes in demand conditions may tilt the growth-inflation tradeoffs in favour of earlier rate cuts by Bank Indonesia, but pressures on the rupiah may limit its scope for action.
Recent signs of mixed messaging and flip-flops in areas of fiscal policy, trade policy, and the new capital are signs that decision-making is being compromised by politicking

[IO Weekly 2024/32] Chinese Economic Sentiment Sours, Driving Iron Ore Lower; Option Activity Surges

By Pranay Yadav

Iron Ore Price Decline: Iron ore prices dropped 1.7% in Week 32, driven by reduced steel output and fading demand. Stimulus-driven rally failed to sustain.
Options Market Trends: Weekly options volume surged, with put volume increasing 106%, pushing the put/call ratio to 1.33, indicating bearish sentiment.
Implied Volatility Shifts: Implied volatility (IV) surged midweek, particularly for September contracts, reflecting increased market uncertainty; options skew narrowed to just 0.3% suggesting more expensive calls.

Fundamental Changes Reflected from Recent Market Turbulence

By Alex Ng

The recent market turbulence is partially due to a reduction in risky positions. The US economy is also slowing, while Eurozone data shows the recovery is not gaining momentum.
China data points to a H2 slowdown. This will be a bumpier environment in H2 2024.
We see scope for a further correction of the S&P500 to 5000, with USDJPY down to 140. Fed easing likely starts in September, supporting U.S. equities at lower levels.

Taiwan: Rates to Buck Global Loosening as Growth Stays Robust and Inflation Too High

By Prasenjit K. Basu

We expect a 12.5bp hike in the policy rate in Sep’24, as CPI inflation (2.52%YoY in Jul’24) remains well above the 2% target amid CBC concerns about overheated property markets.
Real GDP grew 5.1%YoY in Q2CY24, following 6.6%YoY growth in Q1 (both faster than mainland China). Exports grew 10%YoY in Jan-Jul’24, and export orders growth is at a 2-year high.
The market’s trailing P/E ratio (23.56x) is well above its 20-year mean (19.84x). But we recommend a mild Overweight in Taiwan equities, with a focus on the largest tech stocks.

UK Services CPI Realigns With Trend

By Phil Rush

UK inflation increased in July on household energy utility price base effects, but unusual downside news in services prices limited the move to 2.2% and 3.6% on the CPI and RPI.
The BoE erroneously extrapolated recent services strength, so a return to the downward trend would widen the gap in the coming months, but its predictive power is poor.
Slowing trends can aid the MPC to cut again in November but further headline rises and excessive wage pressures should encourage at least a longer pause afterwards.

New Zealand Policy Rate 5.25% (consensus 5.5%) in Aug-24

By Heteronomics AI

The RBNZ unexpectedly reduced the OCR by 25 basis points to 5.25%, citing weakening domestic economic activity and a decline in inflationary pressures, contrasting with the economic consensus of no change.
The decision reflects a balance between maintaining restrictive monetary policy to ensure inflation remains anchored and responding to broader global trends of easing inflation and subdued economic growth.
Future interest rate decisions will be influenced by the pace at which domestic inflation pressures dissipate, the stability of inflation expectations, and the evolving global economic conditions.

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

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Aug 15

Daily Brief Thailand: Thanachart Capital and more

By Smartkarma Daily Briefs | Daily Briefs, Thailand

In today’s briefing:

SET50 Index Rebalance Preview: Four Changes & A Few Close Names

SET50 Index Rebalance Preview: Four Changes & A Few Close Names

By Brian Freitas

Couple of weeks from the start of the review period for the December rebalance of SET 50 Index, we see four potential index changes.
There are a few stocks that are close to the inclusion zone and there could be a reordering among the non-constituents as stock prices move around.
The potential adds have outperformed the potential deletes since the start of the year with most of the outperformance coming over the last 6 weeks.

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Aug 15

Daily Brief South Korea: BusinessOn Communication, HD Hyundai , Shift Up, Samvardhana Motherson Automotive Systems Group BV and more

By Smartkarma Daily Briefs | Daily Briefs, South Korea

In today’s briefing:

BusinessOn Communication (138580 KS): SkyLake’s Delisting Offer
HD Hyundai: Updated NAV Analysis
Shift Up: 2Q 2024 Results Analysis
Morning Views Asia: Samvardhana Motherson International Ltd, SK Hynix, Vedanta Resources

BusinessOn Communication (138580 KS): SkyLake’s Delisting Offer

By David Blennerhassett

On the 25th July, SkyLake Equity Partners acquired a 46.9% stake from Praxis Capital Partners in BusinessOn Communication (138580 KS), Korea’s leading B2B SaaS company; plus 24.3% from BusinessOn’s management.
SkyLake has now launched a Tender Offer for 28.94% of BusinessOn. The Tender offer price is ₩15,849/share.
Super clean deal. SkyLake will acquire all shares tendered. There is no minimum tendering % condition.

HD Hyundai: Updated NAV Analysis

According to our NAV analysis, it suggests a base case valuation of 122,473 won per share for HD Hyundai, representing a 50% upside from current levels.
The combined value of HD Korea Shipbuilding & Offshore Engineering, HD Hyundai Electric & Energy, and HD Hyundai Marine Solution is 11.4 trillion won.
We estimate HD Hyundai’s 73.85% stake in Hyundai Oilbank to be 7.0 trillion won. We also applied a 5x OP of its core business and a 50% holdco discount.

Shift Up: 2Q 2024 Results Analysis

On 14 August, Shift Up (462870 KS) reported its 2Q 2024 results, which was the first earnings report post its IPO.
Shift Up reported sales of 65.2 billion won (up 65.4% YoY and 19.5% below consensus) and OP of 45.1 billion won (up 49% YoY and 21.4% below consensus) in 2Q24.
The company is preparing for a PC release of Stellar Blade in the near future to continue its strong popularity and it expects better results on PC than on console.

Morning Views Asia: Samvardhana Motherson International Ltd, SK Hynix, Vedanta Resources

By Leonard Law, CFA

Samvardhana Motherson International Ltd
SK Hynix
Vedanta Resources

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Aug 15

Daily Brief Australia: Core Lithium Ltd, Iron Ore and more

By Smartkarma Daily Briefs | Australia, Daily Briefs

In today’s briefing:

Tax-Loss Selling In Australia 2024: Trade Reversed Is Tale of Two Hedges, Time To Unwind
[IO Weekly 2024/32] Chinese Economic Sentiment Sours, Driving Iron Ore Lower; Option Activity Surges

Tax-Loss Selling In Australia 2024: Trade Reversed Is Tale of Two Hedges, Time To Unwind

The theory is that stocks which are down hard FY-to-date by end-April end up being good sells because Australians will harvest their losses into end-June.
The idea is then to buy those oversold names and hold them for 30-40 trading days. That has worked 10 out of the last 12 years hedged vs ASX200.
This year, the “sold-down” list is very heavily weighted to miners. They have continued to fall since end-June so it’s down. But hedged vs a basket of miners? It’s up.

[IO Weekly 2024/32] Chinese Economic Sentiment Sours, Driving Iron Ore Lower; Option Activity Surges

By Pranay Yadav

Iron Ore Price Decline: Iron ore prices dropped 1.7% in Week 32, driven by reduced steel output and fading demand. Stimulus-driven rally failed to sustain.
Options Market Trends: Weekly options volume surged, with put volume increasing 106%, pushing the put/call ratio to 1.33, indicating bearish sentiment.
Implied Volatility Shifts: Implied volatility (IV) surged midweek, particularly for September contracts, reflecting increased market uncertainty; options skew narrowed to just 0.3% suggesting more expensive calls.

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Aug 15

Daily Brief Singapore: Scilex Holding and more

By Smartkarma Daily Briefs | Daily Briefs, Singapore

In today’s briefing:

SCLX: Revenues Beat Estimates in 2Q

SCLX: Revenues Beat Estimates in 2Q

By Zacks Small Cap Research

SCLX is filling a much-needed area of the health care sector, that of developing non-opioid pain relief products.
The company already has commercialized products that are proven to improve patients’ lives.
The company released its 2Q2024 results that showed revenues that bested estimates as sales of its primary products showed robust growth, while adding another product to its mix.

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Aug 15

Daily Brief United States: VanEck Vectors Junior Gold Miners ETF, Floor & Decor Holdings, Occidental Petroleum, Squarespace, Talen Energy , Bitcoin Pro, Ionis Pharmaceuticals, Starbucks Corp, Bentley Systems , Asbury Automotive and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

Quiddity Leaderboard MV Jr Gold Miners Sep 24: Mergers Mean Possible Up-And-Out DELETEs
Floor & Decor Holdings Inc.: A Bear’s Perspective! – Major Drivers
[Earnings Review] Occidental Beats Q2 Estimates with Boosted Output and Stronger Realisations
Squarespace Inc.: A Bear’s Perspective! – Major Drivers
TLN: More EBITDA More Value
No Pain, No Gain
Ionis Pharmaceuticals: These Are The Key Advancements in Angelman Syndrome and Broad Neurology Portfolio! – Major Drivers
Starbucks Gambles on New CEO: Will Niccol Turn the Tide or Spill the Beans?
Bentley Systems Inc – Why Howard Hughes Holdings is Pershing Square’s Prime Target!
Asbury Automotive Group: What Is Their Expansion Strategy Focused on Diverse Revenue Streams? – Major Drivers

Quiddity Leaderboard MV Jr Gold Miners Sep 24: Mergers Mean Possible Up-And-Out DELETEs

The MV J-Gold Miners index represents the performance small-cap gold and silver mining companies listed around the world.
This index is reviewed semi-annually in March and September. During these reviews, names can be added or deleted from the index.
In this insight, we take a look at the latest lists of potential ADDs and DELs for the index rebal event in September 2024.

Floor & Decor Holdings Inc.: A Bear’s Perspective! – Major Drivers

Floor & Decor Holdings, Inc. navigated the fiscal second quarter of 2024 with outcomes that reflected the broader economic challenges impacting the retail and real estate sectors.
In the quarter under review, the company reported a dip in both total sales and comparable store sales which fell slightly short of expectations.
This mirrored the continuing pressures from taut monetary policies adversely affecting housing market activities and discretionary spending on major projects.

[Earnings Review] Occidental Beats Q2 Estimates with Boosted Output and Stronger Realisations

By Suhas Reddy

Occidental’s Q2 revenue grew 1.7% YoY but missed estimates by 1.7%. Net profit surged by 34.9% YoY and beat estimates by 32.5%.
Total production rose by 3.3% YoY led by robust growth in the Permian and Gulf of Mexico. Production touched its highest in four years.
Average crude oil realisations rose 8.6% YoY, and natural gas increased by 11.3%, while domestic gas realisations fell sharply by 60.3% YoY.

Squarespace Inc.: A Bear’s Perspective! – Major Drivers

Squarespace’s First Quarter 2024 Earnings revealed a strong performance, with revenue up by 19% and bookings increasing by 23%, surpassing the provided guidance on both metrics.
The unlevered free cash flow margin stood at 32%, contributing to a positive outlook for the fiscal year 2024 in terms of both revenue and free cash flow.
Throughout the quarter, growth was primarily fueled by consistent organic momentum in the company’s core business, particularly in website services which experienced robust retention and an uptick in new customer growth both domestically and internationally.

TLN: More EBITDA More Value

By Hamed Khorsand

TLN benefited from warmer weather in the second quarter with its power plants running without any issues. The increase in electricity demand resulted in TLN reporting adjusted EBITDA higher estimates.
TLN’s management suggesting there could be more data center deals in the future was the biggest takeaway from the earnings call.
Considering the added benefit of the auction results for 2025-26, we believe there is ample reason to expect TLN’s stock to trade above our price target of $145.

No Pain, No Gain

By Delphi Digital

Survive the purge, seize the opportunity: Last week’s extreme market volatility presents exceptional forward-looking opportunities for those who remain resilient.
Liquidation waves: A path to equilibrium: Learn how major market disturbances like last week’s can create ripples that take time to settle, offering strategic consolidation points.
Unlocks and ETF flows: What’s next for crypto? Discover how upcoming token unlocks and recent ETF trends may shape the near-term outlook for key crypto assets.

Ionis Pharmaceuticals: These Are The Key Advancements in Angelman Syndrome and Broad Neurology Portfolio! – Major Drivers

Ionis Pharmaceuticals Inc., a leader in RNA-targeted therapeutics, recently held its second quarter 2024 earnings call outlining several achievements and perspectives on ongoing projects and upcoming product launches.
Ionis has made significant progress with a clear strategic focus on its pipeline, recent approvals, and foundational growth in its research and commercial domains.
Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Starbucks Gambles on New CEO: Will Niccol Turn the Tide or Spill the Beans?

Starbucks, the global coffee giant, has taken a bold step by appointing Brian Niccol, the former CEO of Chipotle, as its new leader.
This move follows the sudden departure of Laxman Narasimhan, whose tenure saw a significant drop in Starbucks’ share value, raising questions about the company’s future direction.
Niccol, credited with turning around Chipotle after its foodborne illness crisis, brings a reputation for innovation and effective leadership.

Bentley Systems Inc – Why Howard Hughes Holdings is Pershing Square’s Prime Target!

Howard Hughes Holdings, a real estate company with a diversified portfolio of master-planned communities, operating assets, and strategic developments, has recently garnered attention due to the possibility of being taken private by Pershing Square, an investment firm led by Bill Ackman.
Pershing Square, the largest shareholder of Howard Hughes with a 38% stake, is reportedly considering this move to unlock greater value from the company.
On the one hand, Howard Hughes has shown strong performance across its core business segments, delivering impressive results in land sales, operating assets, and condo developments.

Asbury Automotive Group: What Is Their Expansion Strategy Focused on Diverse Revenue Streams? – Major Drivers