In today’s briefing:
- Copper Is the New “GOLD”: India’s Rush for Rare Minerals
- Baidu Inc.: Are Its Investments In Gen AI and LLM Paying Off? – Major Drivers
- Permian Resources Corporation: Initiation Of Coverage – 5 Major Drivers
- Jazz Pharmaceuticals: Zanidatamab’s Future Progression & 4 Other Drivers
- Karuna Therapeutics: Is The Bidding Battle Underway?
- Tokyo Electron (8035): Q3 FY03/24 Update
- Skechers U.S.A.: Does The Recovery In Wholesale Orderbook Warrant A Bullish Thesis? – Major Drivers
- Autodesk Inc.: Implementation of The New Transactional Model A Potential Game Changer? – Key Drivers
- 3Q Follow-Up – Copro-Holdings (7059 Jp)
- Monolithic Power Systems: Increasing Power Requirements for Newly Introduced AI Products Changing The Game! – Major Drivers
Copper Is the New “GOLD”: India’s Rush for Rare Minerals
- Copper, known as the “red metal” and vital in modern civilization, has seen a significant surge in demand globally, especially in sectors like electrical, electronics, construction, and transportation.
- Global and Indian reserves of copper, use cases, production process and government push towards Copper mining and overall analysis of existing new entrants in the industry.
- India possessing only 0.25% of the world’s reserves, the overall view from mining to distribution and consumption of copper across India and companies involved in the space.
Baidu Inc.: Are Its Investments In Gen AI and LLM Paying Off? – Major Drivers
- The recent earnings of Baidu indicated solid performance for the fiscal year 2023.
- An extremely neutral analysis reveals several positives.
- The total revenue for Baidu Core’s total revenue for the year increased by 8% year-over-year, indicating strong financial resilience.
Permian Resources Corporation: Initiation Of Coverage – 5 Major Drivers
- This is our first report on Permian Resources, a Delaware-based independent oil and natural gas company.
- The company reported its Q4 and full-year 2023 earnings with significant growth and progress.
- The company finished the year delivering industry-leading returns, exceeding both internal and external expectations.
Jazz Pharmaceuticals: Zanidatamab’s Future Progression & 4 Other Drivers
- Jazz Pharmaceuticals reported a strong financial year in 2023, with overall revenues surpassing $3.8 billion.
- This performance was primarily driven by the growth of key products in the company’s portfolio – Xywav, Epidiolex and Rylaze, which collectively accounted for a 27% year-over-year increase in revenue.
- The company’s sleep therapeutic area contributed more than $1.9 billion in annual revenue, indicating a strong demand for its offerings given the high prevalence of sleep related disorders.
Karuna Therapeutics: Is The Bidding Battle Underway?
- In December 2023, American multinational pharmaceutical company Bristol Myers Squibb has agreed to acquire Karuna Therapeutics for $330 per share in cash, implying a total equity value of $14B.
- The special meeting of Karuna’s shareholders to be held on March 12, 2023, to consider and vote on various proposals necessary to approve upcoming M&A deal.
- I expect the bidding battle among big pharma to acquire Karuna Therapeutics and its valuable pipeline of transformative medicines to treat schizophrenia and psychosis in Alzheimer’s disease.
Tokyo Electron (8035): Q3 FY03/24 Update
- Tokyo Electron (8035 JP) is a global manufacturer of semiconductor production equipment (SPE).
- In FY03/23, the company posted revenue of JPY2.2tn, operating profit of JPY617.7bn, recurring profit of JPY625.2bn, and net income attributable to owners of the parent of JPY471.6bn.
- Tokyo Electron Limited announced revisions to its full-year earnings forecast for FY03/24.
Skechers U.S.A.: Does The Recovery In Wholesale Orderbook Warrant A Bullish Thesis? – Major Drivers
- Skechers ended the 2023 fiscal year on a high note, reaching an annual sales record of $8 billion, a $556 million increase compared to the prior year.
- This milestone was the result of four quarterly sales records, including $1.96 billion for the fourth quarter.
- The company also achieved an annual gross margin record of 51.9%.
Autodesk Inc.: Implementation of The New Transactional Model A Potential Game Changer? – Key Drivers
- Autodesk demonstrated strong performance in the fourth quarter and full year results of fiscal 2024 with 14% constant currency revenue growth in Q4.
- The report reflects Autodesk’s resilience and discipline manifested through its subscription business model, product diversification, and robust customer base.
- The company’s diversified consumer base spans various regions and industries, enabling balanced growth.
3Q Follow-Up – Copro-Holdings (7059 Jp)
- COPRO-HOLDINGS. Co., Ltd., (COPRO) announced its 3Q FY24/3 (9 months) results.
- Key consolidated figures included net sales of ¥17,496 mn (+28.8% YoY), operating profit of ¥1,406 mn (+63.0% YoY), ordinary profit of ¥ 1,480 mn (+70.8% YoY), and profit attributable to owners of parent of ¥936 mn (+79.7% YoY).
- COPRO-CONSTRUCTION. Co., Ltd., (formerly COPRO-ENGINEERED), which operates the Company‘s core business of construction technician dispatching, proactively increased the number of recruits amid the chronically serious shortage of labor against the backdrop of regulations capping overtime work to start in April 2024 and big construction projects.
Monolithic Power Systems: Increasing Power Requirements for Newly Introduced AI Products Changing The Game! – Major Drivers
- Monolithic Power Systems (MPS) enters 2024 with a cautiously optimistic outlook, following a record revenue of $1.82 billion for the full year of 2023, marking its 12th consecutive year of revenue growth.
- The highlights of MPS’ performance in 2023 were the consistent execution, continuous innovation, and robust customer focus.
- However, the visibility beyond the current quarter remains limited due to uncertain customer ordering patterns reflecting overall economic uncertainty.
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