In today’s briefing:
- Asics (7936) | Upgraded Targets on Fashion Pivot
- Trip.com (9961.HK, TCOM): 3Q24, Still Healthy, But Stock Price Exceeded Our Last Target
- A Step Closer to Samsung Life Insurance Finally Selling Its Shares in Samsung Electronics?
- The Beat Ideas: EFC(I) Limited – The Indian Wework!
- Crypto Crisp: MicroStrategy Continues Its Buying Spree
- How Spotify Turned Critical Mass Into Massive Profits—Breaking Down the Numbers! – Major Drivers
- NVIDIA’s AI Revolution Stalls? What Blackwell’s Overheating Issues Reveal!
- Disney’s Secret Weapons: How Streaming
- CJ Cheiljedang: Considering a Potential Sale of Its Bio Business
- Warren Buffett’s Domino’s Pizza Deal: The Possible Strategy Behind The Recent $550 Million Investment! – Major Drivers
Asics (7936) | Upgraded Targets on Fashion Pivot
- ASICS has demonstrated exceptional brand rejuvenation and profitability improvements, with an ambitious 2026 plan that capitalizes on high-growth lifestyle categories
- However, the pivot toward fashion and luxury markets introduces heightened execution risk.
- While the upgraded MTP targets are commendable, much of the good news appears to be priced in.
Trip.com (9961.HK, TCOM): 3Q24, Still Healthy, But Stock Price Exceeded Our Last Target
- The stock has risen by 38% since our last buy rate.
- The 3Q24 results are still healthy – both growth rate and operating margin.
- We set a downside of 19% for the end of 2025.
A Step Closer to Samsung Life Insurance Finally Selling Its Shares in Samsung Electronics?
- Amid Samsung Electronics announcing a huge buyback of 10 trillion won, one of the issues that has resurfaced is the potential sale of Samsung Electronics by Samsung Life Insurance.
- The total amount of Samsung Electronics that could be sold by Samsung Life Insurance and Samsung F&M Insurance is 25.6 trillion won (at current prices).
- We remain Positive on Samsung Electronics. The 10 trillion won buyback program is a positive sign on the company’s willingness to provide higher shareholder returns.
The Beat Ideas: EFC(I) Limited – The Indian Wework!
- EFCI Ltd (EFCIL IN) is one of few companies in the Flex Space Operator Business present in the entire value chain providing an unbeatable edge in Cost competitiveness.
- Management target is to double revenue in FY25 capitalising on sector tailwinds driving exponential growth in all business verticals.
- Completed Backward Integration through manufacturing furniture which will help increase margins as furniture comprise 40-50% of total fitout cost.
Crypto Crisp: MicroStrategy Continues Its Buying Spree
- It has been a relatively quiet week.
- Bitcoin has outperformed much of the market, resulting in an increase in its dominance, as highlighted in Thursday’s Crypto Moves #52.
- This was most likely driven by the intense buying pressure from MicroStrategy over the past week.
How Spotify Turned Critical Mass Into Massive Profits—Breaking Down the Numbers! – Major Drivers
- Spotify Technology S.A. delivered a mixed set of results for the third quarter of 2024, showcasing both achievements and continued challenges as the company navigates through its business strategy.
- On one hand, it marked a milestone by delivering strong growth metrics in both subscribers (net addition of 6 million to reach a total of 252 million) and monthly active users (MAU, rising by 14 million to 640 million).
- These metrics exceeded Spotify’s guidance and reflect its dual focus on product innovation and marketing efficiency.
NVIDIA’s AI Revolution Stalls? What Blackwell’s Overheating Issues Reveal!
- NVIDIA, the undisputed leader in AI-driven GPUs, is currently navigating turbulent waters with its latest Blackwell architecture chips.
- While the company has been riding high on record-breaking revenues and a surging demand for AI compute power, reports of overheating issues in Blackwell chips have cast a shadow over its otherwise stellar growth trajectory.
- According to recent disclosures, these state-of-the-art GPUs face severe thermal management challenges when configured in server racks holding up to 72 units.
Disney’s Secret Weapons: How Streaming
- The Walt Disney Company’s recent fourth-quarter and full-year 2024 financial results provided a comprehensive overview of both the progress and challenges faced by the company.
- CEO Bob Iger highlighted the company’s strategic positioning for growth, emphasizing their momentum as a result of specific strategies across various business segments.
- However, the commentary also reveals nuances in their operational dynamics and future outlook.
CJ Cheiljedang: Considering a Potential Sale of Its Bio Business
- CJ Cheiljedang announced that it is considering on potentially selling its bio business for about 5-6 trillion won which could be more than its market cap.
- CJ Cheiljedang’s bio business is expected to have more than 4 trillion won in sales and about 700 billion won in EBITDA in 2024.
- We are positive on the company’s efforts to sell its Bio Business and reinvest it in its food business.
Warren Buffett’s Domino’s Pizza Deal: The Possible Strategy Behind The Recent $550 Million Investment! – Major Drivers
- The recent earnings call for Domino’s Pizza highlighted several key aspects of its financial performance, strategic initiatives, and market dynamics, revealing both promising areas and challenges.
- The company’s Hungry for MORE strategy appears to be yielding positive results domestically, but international markets face significant hurdles.
- Domestically, Domino’s Pizza has successfully leveraged its value-focused Hungry for MORE strategy.
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