In today’s briefing:
- Chinese ChatGPT Rival Mobvoi Files for Hong Kong IPO
- Fox Corporation: Formation of Tubi Media Group To Lead Fox’s Digital Expansion Efforts – Key Drivers
- Henry Schein Inc.: Acquisition of Regional Health Care Group & Other Drivers
- Waters Corporation: Can It Weather the Storm in China? – Key Drivers
Chinese ChatGPT Rival Mobvoi Files for Hong Kong IPO
- Google-backed Chinese artificial intelligence company Mobvoi Inc. filed Tuesday for an initial public offering on the Hong Kong Stock Exchange.
- The Beijing-based startup, valued at $756 million in its last round of fundraising three years ago, didn’t disclose the size of the IPO.
- Bloomberg reported that the company aims to raise $200 million to $300 million, citing people familiar with the matter.
Fox Corporation: Formation of Tubi Media Group To Lead Fox’s Digital Expansion Efforts – Key Drivers
- Fox Corporation delivered an all-around beat in the previous quarter.
- The significant Super Bowl LVII bolstered the quarter’s success on the Fox Broadcast Network, which generated significant advertising revenue across their businesses and contributed to a remarkable 61% growth in advertising revenue in the Television segment.
- Despite the industry challenges, We give Fox Corporation a ‘Hold’ rating with a revised target price.
Henry Schein Inc.: Acquisition of Regional Health Care Group & Other Drivers
- Henry Schein delivered a mixed set of results for the previous quarter, with revenues above analyst expectations but below-par earnings.
- The global dental specialties business saw increased sales growth, particularly in premium product lines and implant sales.
- Henry Schein made notable acquisitions, including a majority stake in Biotech Dental, a leading provider of dental implants and clear aligners, and the planned entry into the Brazilian implant market with the acquisition of S.I.N.
Waters Corporation: Can It Weather the Storm in China? – Key Drivers
- Waters Corporation delivered a disappointing set of results as the company was unable to meet the revenue expectations as well as earnings expectations of Wall Street.
- Waters Corporation continues to invest in high-growth adjacencies and has a pending acquisition of Wyatt.
- Waters Corporation is focused on managing the challenges and maintaining its growth trajectory, emphasizing customer needs and market opportunities.
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