In today’s briefing:
- Hesai Group IPO: The Bull Case
- Index Rebalance & ETF Flow Recap: MSCI, ASX, STAR50, China 50, NIFTY100, SMM SP, Pertamina Geo IPO
- McCormick & Co: Major Drivers
- Mondelez International: Collaboration With HCL Technologies & Other Developments
Hesai Group IPO: The Bull Case
- Hesai Group (HSAI US) has launched a Nasdaq IPO to raise up to US$171 million at an indicative price range of US$17-19 per ADS.
- Hesai is a global leader in LiDAR technology for autonomous driving and ADAS. In the ADAS market, Hesai is the global leader in terms of shipment volume in 2022.
- The key elements of the bull case rest on a solid competitive positioning, large addressable markets, high growth and a strong balance sheet.
Index Rebalance & ETF Flow Recap: MSCI, ASX, STAR50, China 50, NIFTY100, SMM SP, Pertamina Geo IPO
- There were some review cutoffs last week as well as the implementation of the PCOMP INDEX, IDX 30 Index, LQ 45 Index and IDX 80 Index.
- The big event in the coming week is the announcement of the MSCI February QCIR on Friday morning Asia time with implementation at the close of trading on 28 February.
- Inflows to iShares Core MSCI Emerging Markets ETF (IEMG US) continue while IShares Edge MSCI Min Vol Emerging Markets ETF (EEMV US) continues to see redemptions.
McCormick & Co: Major Drivers
- McCormick delivered a disappointing result, failing to meet the analyst consensus with respect to revenues as well as earnings.
- The management claims that it is seeing an improved momentum given the changing consumer consumption patterns, Flavor Solutions demand, and steady service levels and supply.
- In Q4, their sales growth was decent in the Flavor Solutions area and kept up momentum across all geographies.
Mondelez International: Collaboration With HCL Technologies & Other Developments
- Mondelez delivered a strong quarterly result and surpassed market expectations in terms of the revenues as well as earnings.
- The strong top-line performance of the company was driven by continued volume strength and pricing execution.
- Mondelez delivered robust top-line growth in both developed and emerging markets.
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