In today’s briefing:
- Micron Earnings, SiTime, Consumer, and Applied Materials Insider Sale
- Ohayo Japan | New Nasdaq Record
- Portfolio Update: June 2024
- #21 India Insight: Zomato Tax Demand, Tata Steel Legal Action, NTPC Rs. 12,000 Fund-Raise
- Furniture/Furnishings Weekly – July 1, 2024
- The Highlights – Cannabis News for the Week Ending June 28, 2024
- Biopharma Week in Review – July 1, 2024
Micron Earnings, SiTime, Consumer, and Applied Materials Insider Sale
- Micron’s earnings were… acceptable.
The market didn’t like the guide, but I think it is more of a function of expectations management.
Micron is clearly on the upswing, and the stock needs healthy revenue and profit beats.
Ohayo Japan | New Nasdaq Record
- The tech-heavy Nasdaq advanced 0.8% to hit a record high. Tech giants Microsoft and Apple surged 2.2% and 2.9%
- Tesla rose more than 6% ahead of quarterly delivery numbers released on Tuesday, expected to show a decline of ~5%
- Japan’s average land price rose by 2.3% in 2024, the highest annual increase since 2010, driven by economic recovery and rising tourism.
Portfolio Update: June 2024
- There were no changes to the portfolio in June.
- The two major news among my holdings come from Norbit and Lindbergh.
- Norbit acquired Innomar, a market leader in sub-bottom profilers in the maritime industry, to strengthen their oceans segment product offering.
#21 India Insight: Zomato Tax Demand, Tata Steel Legal Action, NTPC Rs. 12,000 Fund-Raise
- GAIL’s Rs. 12,940-crore Urja Ganga gas pipeline delayed to March 2025 completion date
- Tata Steel UK pursues legal action against Unite union over planned July 8 strike
- IREDA could unlock Rs. 22-lakh crore debt market for renewables energy
Furniture/Furnishings Weekly – July 1, 2024
- Residential furniture stocks had a tough week over concerns about demand, though commercial furniture stocks fared better.
- The Water Tower Research Commercial/Contract Furniture Index declined 0.5%, the Residential Manufacturers & Suppliers Index fell 3.2%, and Home Goods Retailers declined 5.7%.
- All three trailed the broader indexes (+0.2 to +0.5%) and the Mass Retailers Index (+1.7%).
The Highlights – Cannabis News for the Week Ending June 28, 2024
- Cannabis stocks had a volatile week but finished almost exactly flat.
- The US cannabis MSOS ETF ended the five days down 0.27%, while the global YOLO ETF gained 0.43%.
- Among the larger MSOs, Green Thumb Industries (CSE: GTII, OTCQX: GTBIF) at +6.11% and Verano (NEO: VRNO, OTCQX: VRNOF) at +5.49% performed best, while Jushi (CSE: JUSH, OTQCX: JUSHF) had the largest weekly loss.
Biopharma Week in Review – July 1, 2024
- We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&A.
- We recapped our IOC of Ainos, Inc. (AIMD) in a FlashCast Podcast. Those interested can listen to the episode on Apple Podcasts or Spotify.
- Alnylam Pharmaceuticals, Inc. (ALNY) reported strong vutrisiran Phase 3 HELIOS-B results for ATTR-CM, showing a significant 28% reduction in the primary composite endpoint of mortality and CV events for all patients (HR=0.718, p=0.0118) and a 33% reduction for the mono subset (HR=0.672, p=0.0162) versus placebo.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
