Daily Briefs

In the first quarter of 2024, C.H. Robinson implemented a new operating model based on lean methodology, aiming to improve execution, decision-making, and accountability across the business.
This shift resulted in better pricing and capacity procurement efforts, thus improving optimization of volume and adjusted gross profit per truckload.
The company saw improved operational discipline and decision-making based on data, fostering a healthier work culture with a focus on continuous improvement.

XPON: The core battery business still faces a difficult

Expion360 continues to expand its product lineup beyond the core RV and marine battery markets as it has officially entered the home energy storage market and expanded its offerings for the small RV market.
New RV shipments have shown signs of life in the first quarter but we will have to the mix of RV shipments appears to have shifted to lower end towable units.
The company released first-quarter results which were roughly in line with our lowered expectations.

CXW: 1Q24 Beat Highlights Operating Leverage, Improving Occupancies

Management has indicated that the pipeline for new leases, renewals is robust as ICE & multiple government entities seek capacity.
Company is engaged in multiple discussions.
In addition, the recent debt issuance extended maturities & CXW was able to maintain the cost of capital despite the uncertain rate, economic outlook.

Parker-Hannifin Corporation: Evolution of Win Strategy 3.0 and Margin Expansion! – Major Drivers

The Parker-Hannifin Corporation had a strong third-quarter performance in its Fiscal Year 2024, recording record sales of $5.1 billion and a 150 basis point improvement in its margins on the prior year.
The CFO, Todd Leombruno, attributed the record levels of sales, segment operating income, net income, and earnings per share to the impressive operating performance of the company.
Highlights of the quarter included the aerospace segment which drove significant growth and a record operating margin of 26.7%.

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May 16

Daily Brief Financials: Nexus Select Trust, Ngern Tid Lor , Berkshire Hathaway Inc Cl A, Fairfax Financial Holdings Ltd, Moody’s Corp, Pakuwon Jati, Block , Coinbase Global , Intercontinental Exchange and more

By Smartkarma Daily Briefs | Daily Briefs, Financials

In today’s briefing:

Nexus Select Trust IPO Lockup Expiry – US$1.5bn Stake Comes Free. Will Likely Be a Coordinated Exit
Quiddity Leaderboard SET50 Jun 24: BANPU Vs SAWAD Has to Be Monitored Closely
Dispatch from Omaha: Berkshire after Warren Buffett
Fairfax Financial Holdings (FRFFF) – Wednesday, Feb 14, 2024
Moody’s Corporation: What Are Their New Artificial Intelligence (AI) Enabled Solutions? – Major Drivers
Morning Views Asia: Indofood CBP Sukses, Pakuwon Jati, Rakuten
Block Inc.: A Deep Dive Into Their Strategic Evolution & Competitive Landscape! – Major Drivers
Coinbase Global: Increased Adoption and Expansion of Base! – Major Drivers
Intercontinental Exchange Inc. (ICE): Strong Global Commodity and Financial Risk Management Businesses! – Major Drivers

Nexus Select Trust IPO Lockup Expiry – US$1.5bn Stake Comes Free. Will Likely Be a Coordinated Exit

By Sumeet Singh

Nexus Select Trust (NST IN) raised around US$391m in its India IPO in May 2023.
NST is a REIT with a portfolio of 17 Grade A urban consumption centers. Its portfolio covers retail malls, office assets, hospitality assets and a renewable power plant.
In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.

Quiddity Leaderboard SET50 Jun 24: BANPU Vs SAWAD Has to Be Monitored Closely

By Janaghan Jeyakumar, CFA

The SET50 index tracks the performance of the top 50 largest and most liquid names listed on the Stock Exchange of Thailand (SET).
In this insight, we take a look at the potential ADDs/DELs for SET during the index rebal event in June 2024.
Although 80% of the 3-month reference period is now complete, it is still possible for the rankings to change.

Dispatch from Omaha: Berkshire after Warren Buffett

By Behind the Money

Thousands of people from around the world gather in Omaha for Berkshire Hathaway shareholder meeting at Warren Buffet’s house.
Questions arise about who will take over Berkshire Hathaway after Buffet’s reign and what will happen to the company.
Berkshire Hathaway annual meeting features a variety of booths and shops representing the conglomerate’s diverse business holdings, attracting shareholders and fans alike.

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

Fairfax Financial Holdings (FRFFF) – Wednesday, Feb 14, 2024

Author disputes Muddy Waters’ claims and endorses purchasing Fairfax Financial shares
Fairfax’s true book value is believed to be higher than its current trading price, making it a promising investment
Fairfax is a property and casualty insurer with a strong underwriting history, adding to its appeal as an investment opportunity.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Moody’s Corporation: What Are Their New Artificial Intelligence (AI) Enabled Solutions? – Major Drivers

Moody’s Corporation (Moody’s) began 2024 on a strong note with a sizeable 21% revenue growth ensured by a robust issuance environment and sustained demand for risk assessment solutions.
By taking advantage of investments made in analytical talent and technology, Moody’s leveraged robust issuance periods, resulting in a 35% year-over-year increase in revenue.
Despite uncertainties surrounding the year ahead due to factors like upcoming U.S. elections, tense Middle East situations, and potential fluctuations in U.S. inflation and central bank rates, Moody’s remains optimistic about potential growth.

Morning Views Asia: Indofood CBP Sukses, Pakuwon Jati, Rakuten

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.

Indofood CBP Sukses
Pakuwon Jati
Rakuten

Block Inc.: A Deep Dive Into Their Strategic Evolution & Competitive Landscape! – Major Drivers

Block Inc., previously known as Square, provided updates on its business performance for the first quarter of 2024 in a recent earnings conference call.
The company reported an impressive gross profit of $2.09 billion, an increase of 22% compared with the same period last year.
This was mainly due to robust growth in the company’s Square and Cash App businesses, and discipline in managing expenses.

Coinbase Global: Increased Adoption and Expansion of Base! – Major Drivers

Coinbase Global Inc., under the leadership of Co-Founder and CEO Brian Armstrong, reported a strong first quarter for 2024 in the latest earnings call.
Significant progress has been made on the 2024 priorities shared on a previous call, and these include revenue expansion through the improvement of core trading, growth in stablecoins, dominance in the derivatives space both domestically and internationally, and growth through key market investments.
Coinbase has developed a low-cost Layer 2 solution named Base and is striving to drive regulatory clarity through court disputes, policy collaborations globally, and procrypto candidate support.

Intercontinental Exchange Inc. (ICE): Strong Global Commodity and Financial Risk Management Businesses! – Major Drivers

Intercontinental Exchange (ICE) reported records in Q1 2024 with net revenue of $2.3 billion; a 5% increase compared to the prior year.
There were also some highlights, such as $1.4 billion of record adjusted operating income representing an 8% year-over-year growth.
ICE also saw record first quarter net revenues totaling a record $1.2 billion which is up 11% year-over-year.

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May 16

Daily Brief Consumer: Meituan, Alibaba Group Holding , Perfect Medical Health, Lock&Lock, Vipshop Holdings, TSE Tokyo Price Index TOPIX, Add-Shop E-Retail, Booking Holdings and more

By Smartkarma Daily Briefs | Consumer, Daily Briefs

In today’s briefing:

Meituan (3690 HK): Out of the Woods and Light a Fire
Alibaba: Our Take on 4QFY24
Alibaba (9988 HK): Dual Primary Listing & Potential Southbound Flows
Shortlist Of High Conviction Ideas: Income, Value, and Margin of Safety – May 2024
Lock & Lock: Second Tender Offer by Affinity Equity Partners
Alibaba (BABA US): Taobao/Tmall Is Back
Vipshop: Net Cash at 40% of Market Cap, Now Paying Dividends and Buying Back Shares
What Happens to the Effectiveness of TSE Requests when They Become Effort Obligations?
How an Indian SME Used Circular Transaction Tactics to Inflate Financial Performance?
Booking Holdings Inc.: Expanding Beyond Traditional Accommodations & How AI Is Helping Them Change The Game! – Major Drivers

Meituan (3690 HK): Out of the Woods and Light a Fire

By Eric Wen

We notice a pickup in consumer acceptance of instrashopping, as result of COVID-cultivated behavior. We notice similar business model worked outside of China (Coupang) for densely populated urban upper-middle-class customers;
Meituan’s launch of membership is a wise step towards strengthening user stickiness and emphasizing transaction soundness over impulsive buying. Meituan’s portfolio in food, dining, hotel & travel offer unparalleled value;
We see Meituan’s success in Hong Kong honed a replicable business model targeting single and low priced segment. Consolation on a global scale now seems a possibility.

Alibaba: Our Take on 4QFY24

By Oshadhi Kumarasiri

Alibaba Group Holding (BABA US)‘s FQ4 announcement portrays a resilient comeback to growth, suggesting the past four years’ challenges barely impacted its dominance in Chinese e-commerce.
However, a closer look beyond the surface of Alibaba Group Holding (9988 HK)‘s FQ4 results announcement reveals that little has actually changed in recent months.
Taobao and Tmall face challenges in a tough, stagnant market; AIDC’s growth largely covers for other Alibaba units’ failings, while AliExpress’s expansion cuts into margins.

Alibaba (9988 HK): Dual Primary Listing & Potential Southbound Flows

By Brian Freitas

Along with its fiscal 2024 results, Alibaba (9988 HK) announced that they were preparing for their primary listing in Hong Kong and the conversion was expected to complete by August.
If the conversion is completed by the end of August, Alibaba (9988 HK) could be added to Southbound Stock Connect in September and that could bring in significant flows.
We do not forecast any passive inflows due to the change with Alibaba Group Holding (9988 HK) capped at 8% of the HSI, HSCEI and HSTECH indices.

Shortlist Of High Conviction Ideas: Income, Value, and Margin of Safety – May 2024

By Sameer Taneja

We compile our selection of small and mid-cap names with our desired characteristics of high dividend yields, value, and margin of safety.
Our top picks are Perfect Medical Health (1830 HK), Water Oasis (1161 HK), Taste Gourmet (8371 HK), Uchi Technologies (UCHI MK), and Ginebra San Miguel (GSMI PM).
After a massive recent correction for HK stocks, we are more constructive on the names, and yields there look very attractive.

Lock & Lock: Second Tender Offer by Affinity Equity Partners

By Douglas Kim

On 15 May, it was reported in the local media that Affinity Equity Partners (AEP) is expected to launch a second tender offer for Lock & Lock (115390 KS).
The tender offer price in this second tender offer is 8,750 won (same as the first tender offer). The second tender offer will last from 16 May to 5 June.
In the first tender offer, only about half of the target was reached. There was a strong backlash from investors due to low tender offer price.

Alibaba (BABA US): Taobao/Tmall Is Back

By Eric Chen

Alibaba reported in-line revenue but disappointed adjusted net income for 4QFY24.
Yet a closer look shows strong core Taobao/Tmall performance was offset by higher-than-expected losses incurred by peripheral businesses.
We remain convinced BABA is on track to turn around and an earnings upgrade cycle is one or two quarters away. We are buyer at this price.

Vipshop: Net Cash at 40% of Market Cap, Now Paying Dividends and Buying Back Shares

By Wium Malan, CFA

The slowdown in Chinese retail sales of apparel seems to have been factored into Vipshop Holdings (VIPS US) 1Q 2024 revenue growth expectations whilst bottom-line is supported by margin expansion.
With net cash at ~40% of its market cap, the share price should be supported by the ongoing share repurchase program and its inaugural annual dividend policy.
Its 6.6x NTM PE ratio (~4x ex-cash) seems extremely attractive for a highly cash-generative business set to (conservatively) grow earnings at high-single-digits whilst buying back shares and paying dividends.

What Happens to the Effectiveness of TSE Requests when They Become Effort Obligations?

By Aki Matsumoto

Code of Corporate Conduct lacks explanation of the role to be played by a listed company and the background. Consequently, there’re cases where the same companies have repeatedly committed misconduct.
For companies that are good at pretending that they are trying, without any substance to their corporate governance, making the provisions of Corporate Governance Code mandatory effort won’t be effective.
TSE’s request seems to be an effort obligation. It is good that the substance of the company’s improvement plan, which only made an effort to improve, will be improved.

How an Indian SME Used Circular Transaction Tactics to Inflate Financial Performance?

By Nimish Maheshwari

SEBI observed White Organics and Add Shop Retail used circular transaction method to inflate financial performance of respective companies
Promoter sell their holdings on the back of this inflated financial performance
The forensic analysis delves into the modus operandi of these frauds

Booking Holdings Inc.: Expanding Beyond Traditional Accommodations & How AI Is Helping Them Change The Game! – Major Drivers

Booking Holdings has made a robust start to 2024 by posting strong first quarter results.
The company revealed that travelers booked nearly 300 million room nights across its platforms in Q1, exceeding its expectations and showing growth of 9% YoY. Moreover, revenue for Q1 stood at $4.4 billion, reflecting a growth of 17%, while adjusted EBITDA was approximately $900 million, climbing 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.
In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

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May 16

Daily Brief Health Care: Nihon Kohden, Grifols SA, Amgen Inc, Yichang HEC Changjiang Pharma, CytoSorbents , Dyadic International , American Shared Hospital Servi, Lantern Pharma , Bio Techne Corp, Jazz Pharmaceuticals and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

Nihon Kohden (6849 JP): ¥10B Buyback Plan And Stock Split; Japan and US to Drive Business Growth
Liquid Universe of European Ordinary and Preferred Shares: May‘24 Report
Amgen Inc.: Will The Increased Spending on Research and Development (R&D) Pay Off? – Major Drivers
HEC CJ Pharma (1558.HK)’s Merger Deal with Sunshine Lake Pharma – Almost No Investment Value
CTSO: CytoSorbents reports 1st quarter 2024 financial results and highlighted STAR-T trial data presentation at the AATS conference.
DYAI: Product Revenues Next Year
AMS: 1Q24 Revenue Up, With Rhode Island Centers Coming on Stream in 2Q
LTRN: Expanding Horizons into Asia
Bio-Techne Corporation: Growth in the Cell and Gene Therapy Market & Improved Positioning In Spatial Biology Market! – Major Drivers
Jazz Pharmaceuticals plc: Zanidatamab’s Differentiated Efficacy and Safety Profile & Other Major Drivers

Nihon Kohden (6849 JP): ¥10B Buyback Plan And Stock Split; Japan and US to Drive Business Growth

By Tina Banerjee

In FY25, Nihon Kohden (6849 JP) guided for domestic revenue of ¥147B, up 3% YoY. The demand for patient monitors and treatment equipment is expected to remain steady.
Nihon Kohden expects North America business to report a revenue CAGR of 11% (fastest among all the other regions) during FY24–27, outpacing mid-single-digit growth of the market.
The company announced ¥10B buyback plan to repurchase up to 6M shares, representing 3.57% of total number of issued shares from August 5, 2024, to March 31, 2025.

Liquid Universe of European Ordinary and Preferred Shares: May‘24 Report

By Jesus Rodriguez Aguilar

Since mid-April, spreads have generally tightened across our European liquid universe of ordinary and preferred shares (12 have tightened, 7 widened). Views are unchanged.
Recommended trades long preferred / short ordinary shares: Atlas Copco, Danieli, Grifols (see section on the company), Media-for-Europe, Sixt, Volkswagen.
Recommended trades long ordinary / short preferred shares: Henkel, SSAB Svenska Stal, Roche.

Amgen Inc.: Will The Increased Spending on Research and Development (R&D) Pay Off? – Major Drivers

Amgen Inc. witnessed strong growth in the Q1 of 2024 with total revenue increasing by 22% YoY. This was largely driven by strong volume growth, including over $900 million from the integration of Horizon Pharmaceuticals’ legacy portfolio.
The growth was also supported by robust product sales from brands like Repatha, TEZSPIRE, EVENITY, Prolia, and BLINCYTO. Amgen projects full-year sales of approximately $500 million for Neulasta.
The company has advanced many of its pipeline products; it awaits approval for tarlatamab, hopes to bring this innovative cancer solution to patients with small-cell lung cancer.

HEC CJ Pharma (1558.HK)’s Merger Deal with Sunshine Lake Pharma – Almost No Investment Value

By Xinyao (Criss) Wang

Sunshine Lake Pharma plans to privatize HEC CJ Pharma in the form of merger by absorption with conditions. After privatization, CJ Pharma will be delisted from the Stock Exchange.
Sunshine Lake Pharma’s pipeline has been “disconnected” from the level of domestic biotech in recent years, and is completely lagging behind the average speed of innovative drug development in China.
Due to “outdated” pipeline and lack of prospects, even if CJ Pharma is merged into Sunshine Lake Pharma, valuation performance of the new entity would be disappointing in the future.

CTSO: CytoSorbents reports 1st quarter 2024 financial results and highlighted STAR-T trial data presentation at the AATS conference.

CytoSorbents is commercializing its E.U. approved CytoSorb blood purification technology to treat life-threatening conditions in the intensive care unit and cardiac surgery.
The company also seeks U.S. and Canadian approval of a second product, DrugSorb-ATR, to reduce perioperative bleeding risk in patients on the blood thinner, ticagrelor, undergoing cardiac surgery.
Data from the pivotal U.S. STAR-T trial presented at the AATS conference and recent KOL/Analyst/Investor day demonstrate a favorable benefit-to-risk profile of DrugSorb-ATR to reduce serious bleeding in patients undergoing isolated CABG. Company plans to submit for FDA De Novo and Health Canada marketing approvals in Q3 2024.

DYAI: Product Revenues Next Year

Dyadic has developed C1, its proprietary fungal expression system that can produce a variety of recombinant proteins.
C1 has been commercialized in industrial applications and is in development for production of pharmaceutical grade proteins.
C1 exhibits potential to economically produce biologic vaccines, virus like particles, antibodies, Fc-fusion, enzymes, AAVs and other biopharmaceuticals.

AMS: 1Q24 Revenue Up, With Rhode Island Centers Coming on Stream in 2Q

Revenue in 1Q24 advanced 5.9% y/y, driven by 14.5% & 38.4% respective improvements in PBRT and direct patient revenue, the latter due to international operations where patient volumes continue to increase.
Ecuador’s recently installed new Gamma Knife ICON and Peru’s Gamma Knife represent the only Gamma Knife machines in these markets.
AMS has indicated that its sales pipeline is the strongest it has been in years & revenue backlog has reached more than $210M, more than double the level at YE 2023.

LTRN: Expanding Horizons into Asia

Lantern Pharma uses AI & data to identify drug responders, uncover mechanism of action & rescue failed drugs.
It is developing LP-300 for non- & never smoker NSCLC in the Harmonic trial.
Secondary candidates include LP-100 for mCRPC and LP-184 and LP-284 which are in clinical development for multiple biomarker-defined tumors and hematological cancers, respectively.

Bio-Techne Corporation: Growth in the Cell and Gene Therapy Market & Improved Positioning In Spatial Biology Market! – Major Drivers

Bio-Techne Corporation, a biotech firm specializing in protein and cell-based research, recently reported their third quarter 2024 earnings.
The company displayed strong performance, and its financial circumstances seem to be stabilizing.
Bio-Techne’s 2% year-over-year organic revenue growth exceeded their expectations, heralding potential expansion as biotech funding and macroeconomic challenges in China stabilize.

Jazz Pharmaceuticals plc: Zanidatamab’s Differentiated Efficacy and Safety Profile & Other Major Drivers

By Research as a Service (RaaS)

In the Q1 2024 earnings, Jazz Pharmaceuticals reported a year-over-year combined double-digit revenue growth from its key growth drivers including Xywav, Epidiolex, and Rylaze.
These assets have significantly contributed to their first-quarter total revenue growth which reached over $900 million.
Xywav’s revenue growth rose to 14% year-over-year, signifying the company’s positive trajectory and endurance in the market.

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May 15

Daily Brief Australia: Atlas Arteria, Pioneer Credit and more

By Smartkarma Daily Briefs | Australia, Daily Briefs

In today’s briefing:

Atlas Arteria (ALX AU): IFM Ups Stake As Shares Waver
Pioneer Credit Ltd – Refinancing progress – proposed margin reduction

Atlas Arteria (ALX AU): IFM Ups Stake As Shares Waver

By David Blennerhassett

Back in June 2022, US/Europe toll-road play Atlas Arteria (ALX AU) (ATLIX) rejected IFM Global Infrastructure’s request for limited company information, before deciding whether to submit a non-binding indicative proposal.
Undeterred, IFM, which held 15% of shares out at the time, bumped its stake to 19% two months later; and has continued to capitalise on Australia’s creep provisions ever since.
This morning, IFM is understood to have lifted its stake to ~26.5%, in an apparent attempt to gain additional board representation. Another tilt cannot be ruled out.

Pioneer Credit Ltd – Refinancing progress – proposed margin reduction

Pioneer Credit Limited (ASX:PNC) is one of the leading acquirers and managers of impaired credit in Australia and has gained its status by maintaining positive customer engagement, an unblemished compliance record with ASIC, and strong relationships with Australia’s largest bank and non-bank lenders.
PNC purchases debt from numerous Australian vendor partners (18 different vendors in the past 12 months) with long-term partnership purchasing arrangements in place with Commonwealth Bank of Australia (ASX:CBA).
Pioneer’s success in purchasing large debt portfolios at attractive IRRs since October highlights the strong position the company occupies in the marketplace, now enhanced by the recent purchases on attractive IRRs.

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May 15

Daily Brief South Korea: SK IE Technology and more

By Smartkarma Daily Briefs | Daily Briefs, South Korea

In today’s briefing:

Key Timing Window for a Surge in Block Deals Before Pre-Disclosure Takes Effect in July

Key Timing Window for a Surge in Block Deals Before Pre-Disclosure Takes Effect in July

By Sanghyun Park

Anticipation grows for increased block deals before July 24th’s pre-announcement rule takes effect, emerging as a key investment focus in the local market.
The local market expects heightened activity in the three weeks post-May 15th, following first-quarter earnings announcements, a strategic move to mitigate insider trading controversies.
Local traders eagerly await which companies will capitalize on the post-first-quarter earnings window, with a highly anticipated block deal involving SK Innovation selling a portion of its stake in SKIET.

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May 15

Daily Brief Singapore: Great Eastern Holdings, Grab Holdings , OUE Ltd, Scilex Holding and more

By Smartkarma Daily Briefs | Daily Briefs, Singapore

In today’s briefing:

Great Eastern (GE SP): Getting Technical
Grab Holdings (GRAB US) – Rich in Initiatives
10 in 10 with OUE Healthcare – Sustainable Expansion across Asia
SCLX: Making Decisions That Should Boost Revenue

Great Eastern (GE SP): Getting Technical

By David Blennerhassett

Great Eastern Holdings (GE SP) has consistently traded through OCBC (OCBC SP)‘s Offer terms from the onset.
OCBC did not declare its S$25.60 cash Offer final. And someone appears to be accumulating a stake to block an Exit/Delisting Offer, presumably towards negotiating a bump in terms.
But what happens if GE’s free float falls <10% at the close of the Offer and GE is suspended? And OCBC has no intention of restoring the float?

Grab Holdings (GRAB US) – Rich in Initiatives

By Angus Mackintosh

Grab‘s focus last year was offering more affordable products, which helped to increase its addressable market. FY2024 will see the rollout of a broader range of initiatives across economic segments.
This year Grab is rolling out more premium offerings and new initiatives, including advance bookings, family accounts, increased reviews, and new merchant features to grow revenue streams from advertising.
The upcoming results are likely to reflect seasonal factors but should also reveal something about Grab’s new initiatives and the changing competitive environment, with GoTo investing more aggressively.

10 in 10 with OUE Healthcare – Sustainable Expansion across Asia

By Geoff Howie

10 in 10 with OUE Healthcare – Sustainable Expansion across Asia

SCLX: Making Decisions That Should Boost Revenue

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 reported 1Q2024 results that were a little shy of estimates, but growth continues, and the product line should accelerate growth in the coming years.

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May 15

Daily Brief United States: Intel Corp, ContextLogic , Lands’ End Inc, Lantern Pharma , Soligenix , Syra Health , Talen Energy , Vail Resorts, Cinemark Holdings, Valvoline and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

Intel’s Foundry Chief Runs For The Hills
Contextlogic Inc (WISH) – Tuesday, Feb 13, 2024
LE: Snapping the Catalog: The “New” Lands’ End Swim; Reiterate Buy & $14 PT
LTRN: Expanding Horizons into Asia
SNGX: Second Confirmatory Phase 3 Trial of HyBryte in CTCL to Initiate Before End of 2024
SYRA: Reiterates Revenue Guidance Up 64%-100% Y/Y, Diversifying, Growing Pipeline
TLNE: Spark of Value
Vail Resorts Inc (MTN) – Tuesday, Feb 13, 2024
Cinemark Holdings Inc (CNK) – Tuesday, Feb 13, 2024
Pershing Square Challenge 2024 winning team shares pitch on Valvoline $VVV

Intel’s Foundry Chief Runs For The Hills

By William Keating

In a surprise move, Intel announced that its foundry chief Stuart Pann is to retire from the company effective end of May after just over one year in the role
He will be replaced by former IBM, Globalfoundries and Marvell executive Kevin O’Buckley, effective immediately
Mr. O’Buckley now has the dubious distinction of being the third leader of IFS in as many years.

Contextlogic Inc (WISH) – Tuesday, Feb 13, 2024

By Small Cap Consumer Research

textLogic Inc. has entered into a definitive agreement to merge with Qoo10, a leading Asian e-commerce platform
The deal values Wish at less than its estimated book value as of 12/31/23, reflecting the company’s struggles, but presents opportunities for growth and synergies
The merger will allow ContextLogic to focus on monetizing its valuable NOLs and cash position, potentially unlocking additional value for shareholders and signaling a new chapter for Wish as it moves past its downfall

LE: Snapping the Catalog: The “New” Lands’ End Swim; Reiterate Buy & $14 PT

We are reiterating our Buy rating, $14 price target, and projections for Lands’ End after reviewing the May catalogs for 2023 and 2024.
The overwhelming focus for this month is swim, one of the core categories for the company.
Lands’ End continues to drive deeper levels of newness to capture higher pricing and create a sense of urgency for purchases.

LTRN: Expanding Horizons into Asia

Lantern Pharma uses AI & data to identify drug responders, uncover mechanism of action & rescue failed drugs.
It is developing LP-300 for non- & never smoker NSCLC in the Harmonic trial.
Secondary candidates include LP-100 for mCRPC and LP-184 and LP-284 which are in clinical development for multiple biomarker-defined tumors and hematological cancers, respectively.

SNGX: Second Confirmatory Phase 3 Trial of HyBryte in CTCL to Initiate Before End of 2024

On May 10, 2024, Soligenix, Inc. (SNGX) announced financial results for the first quarter of 2024 and provided a business update.
The company recently completed a public offering for gross proceeds of approximately $4.75 million.
This capital infusion is important as the company prepares to initiate a second Phase 3 trial of HyBryte (synthetic hypericin) in the treatment of cutaneous T cell lymphoma (CTCL).

SYRA: Reiterates Revenue Guidance Up 64%-100% Y/Y, Diversifying, Growing Pipeline

The company attributed the strong topline to investments in technology and personnel made in recent quarters to support expected growth.
The Caduceus sub-contract is not included in guidance and so therefore could provide upside, depending on when it comes on stream.
Moreover, SYRA is optimistic about potential new federal business.

TLNE: Spark of Value

By Hamed Khorsand

TLNE reported Q1 results benefiting from its hedging program to offset the warmer winter in parts of the country. The Q1 results confirmed the commentary management had previously provided
TLNE sold its power plants in Texas subsequent to the first quarter ending. This should remove a large portion of volatility from TLNE’s operations
Spark spreads have continued to move in TLNE’s favor implying quarterly results this year could remain above expectations

Vail Resorts Inc (MTN) – Tuesday, Feb 13, 2024

Vail Resorts has underperformed benchmarks in the past but is now poised for a turnaround
The company has expanded its portfolio to 41 strategically located destinations and increased EBITDA and revenue by over 50% since 2018
Despite increased leverage from acquisitions, the management team has effectively managed disruptions to the business and presents an attractive investment opportunity with potential for growth

Cinemark Holdings Inc (CNK) – Tuesday, Feb 13, 2024