In today’s briefing:
- NVIDIA. Revenue On Track For 2.7x YoY Growth in Q3’CY23
- IHH Healthcare (IHH MK): Recent Acquisitions Are Positive for Future Growth; Strong 1Q23 Performance
- China Merchants Bank – New Results: Property Dev. NPLs at 5.5% from 4.1%… 25% Lower Credit Costs
- PT Nippon Indosari Corpindo (ROTI IJ) – Increasingly Oven Ready
- New Relic Takeover Valuation Analysis: The Buyout Price Looks Reasonable
- Merck & Co. Inc.: Setting New Standards in Oncology & Pneumococcal Immunization! – Major Drivers
- Pinterest Inc.: Embracing Challenges and Emerging as a Dominant Force in Digital Landscape! – Major Drivers
- Paycom Software Inc.: Sustaining High Margins Amidst Rapid Expansion! – Major Drivers
- Howmet Aerospace Inc.: 3 Factors Powering Its Dynamic Growth Trajectory Despite Strikes and Supply Chain Hurdles! – Major Drivers
- Singapore Stocks Poised to Book Net Institutional Inflows in August
NVIDIA. Revenue On Track For 2.7x YoY Growth in Q3’CY23
- NVIDIA Q2’CY23 revenues of $13.51 billion, up 88% QoQ, up 101% YoY, blowing way past the $11 billion guidance midpoint.
- Current quarter revenue is expected to be $16.00 billion. This will be a roughly 2.7x increase YoY
- Are we in the middle of witnessing a bubble of dot.com era proportions?
IHH Healthcare (IHH MK): Recent Acquisitions Are Positive for Future Growth; Strong 1Q23 Performance
- IHH Healthcare (IHH MK) will acquire remaining stake in Indian hospital chain operator Ravindranath GE Medical Associates for RM415M. The transaction is expected to close by 4Q23.
- IHH is acquiring Bedrock Healthcare for RM245M. Bedrock operates 82-bed hospital in the Malaysian state of Sarawak and has earmarked a vacant land for the construction of a 200-bed hospital.
- In 1Q23, IHH reported highest ever quarterly revenue of RM5.1B, representing 24% YoY growth on higher patient volume across key markets. Net income nearly triples to RM1.4B.
China Merchants Bank – New Results: Property Dev. NPLs at 5.5% from 4.1%… 25% Lower Credit Costs
- New results detail from CMB shows divergence with credit quality and actual credit costs
- The bank saw its credit costs decline 25% YoY despite higher Loss and Doubtful Loans YoY
- Property development NPLs surged from 4.1% to 5.5% at 1H23 HoH, to RMB19.6bn in total
PT Nippon Indosari Corpindo (ROTI IJ) – Increasingly Oven Ready
- PT Nippon Indosari Corpindo (ROTI IJ) booked a strong profit performance in 2Q2023 despite slower sales growth, as return rates normalised and raw material and packaging prices stabilised further.
- Sales to Modern Trade led the way in 2Q2023 as post-pandemic consumption habits shifted to those formats, whilst General Trade saw pressure as hawkers and warung owners took holidays
- ROTI should continue to benefit from lower input costs together with a normalisation of its General Trade Business plus productivity is set to improve markedly in 2H2023.
New Relic Takeover Valuation Analysis: The Buyout Price Looks Reasonable
- Following takeover rumors surrounding New Relic Inc (NEWR US) , private equity firms finally agreed to acquire a US-based low-cost observability provider for ~$6.5B.
- American private equity firm Francisco Partners and global alternative asset manager TPG offered $87 per New Relic Inc (NEWR US) share in an all-cash transaction.
- The New Relic Inc (NEWR US) Board of Directors approved the buyout deal, and is expected to close in late 2023 or early 2024.
Merck & Co. Inc.: Setting New Standards in Oncology & Pneumococcal Immunization! – Major Drivers
- Merck delivered an all-around beat in the quarter, making excellent strides in advancing compelling science that will contribute to meeting the world’s most critical unmet medical needs.
- Concerning their research organization, Merck’s encouraging late-stage pipeline keeps proving beneficial for patients with a wide spectrum of ailments.
- In oncology, Merck highlighted information from ASCO’s extensive pipeline, including evidence for KEYTRUDA in lung cancer that is in an earlier stage.
Pinterest Inc.: Embracing Challenges and Emerging as a Dominant Force in Digital Landscape! – Major Drivers
- Pinterest delivered an all-around beat in the most recent quarterly result.
- The company’s strategic focus on core differentiators and visual discovery led to increased user engagement and expansion of the user base.
- Despite challenges in the advertising environment, Pinterest achieved consistent year-on-year revenue growth and margin expansion.
Paycom Software Inc.: Sustaining High Margins Amidst Rapid Expansion! – Major Drivers
- Paycom Software managed to exceed analyst expectations in terms of revenue and earnings.
- The company’s initiative to simplify clients’ experiences was evident by introducing tools like Everyday and the Client Action Center.
- As Paycom continues to execute its strategies and capitalize on its expanding market opportunities, its potential for sustained success remains promising.
Howmet Aerospace Inc.: 3 Factors Powering Its Dynamic Growth Trajectory Despite Strikes and Supply Chain Hurdles! – Major Drivers
- Howmet Aerospace delivered an all-around beat in the most recent quarterly result.
- Revenues showed significant year-over-year and sequential growth, with a notable highlight in the commercial aerospace sector.
- Moreover, Howmet maintained a healthy cash balance and generated robust free cash flow.
Singapore Stocks Poised to Book Net Institutional Inflows in August
- Singapore stocks have booked net institutional fund inflow for three consecutive weeks ending 25 August.
- With four trading sessions for the month remaining, August is poised to be the first month local stocks have booked net inflows since Nov 2022.
- Back in November 2022, UOB posted a 12.4% return and booked the highest net institutional inflow in the Singapore stock market for that month with S$306 million of net inflow.
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