In today’s briefing:
- Biocytogen (百奥赛图) IPO Trading: Week Demand
- Deere & Co: Major Drivers
- Dollar Tree: Major Drivers
Biocytogen (百奥赛图) IPO Trading: Week Demand
- Biocytogen raised HKD 471m (USD 60.77m) from its global offering and will list on the Hong Kong Stock Exchange on Thursday, September 1st.
- In the previous note, we looked at the company’s business lines including biotech and animal model businesses.
- In this note, we provide an update for the IPO before trading debut.
Deere & Co: Major Drivers
- Despite ongoing supply issues, Deere increased production rates in the past quarter, which led to a 25% increase in net sales.
- The demand-driven growth in the construction and forestry industries also contributed to the division’s impressive success in the third quarter.
- Furthermore, because of ongoing supply issues that result in manufacturing inefficiencies, overhead expenses also increase over time.
Dollar Tree: Major Drivers
- Given the ongoing cost difficulties that the retail industry is witnessing, Dollar Tree’s business was bound to be negatively impacted.
- Its second quarter performance was below par with revenues below Wall Street expectations and earnings just about meeting the analyst consensus estimate.
- For Family Dollar, the management relocated 24 stores, remodelled 257 stores, and established 95 new stores throughout the quarter.
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