In today’s briefing:
- Ohayo Japan | Nasdaq up on Nvidia (Again)
- Snack Dynasty: Haldiram’s Rise to a Multi-Billion Dollar Empire
- #2 India Insights: Adani on Fundraising Spree, RIL Betting on Logistics, NTPC Green IPO Soon
- China Power Sector: Where Can We Still Find Value?
- [Blue Lotus Daily – TMT Update]:700 HK/JD US/AAPL US/1810 HK/2618 HK/BABA US/PDD US/VIPS US/3690 HK
- #6Business Buzz: Tech Giants Clash in India, Apple Triumphs in China, Nasdaq Rises
- The Highlights – Cannabis News for the Week Ending May 24, 2024
- Furniture/Furnishings Weekly – May 28, 2024
Ohayo Japan | Nasdaq up on Nvidia (Again)
- Toyota, Mazda and Subaru are positioning themselves to meet growing consumer demand for hybrid vehicles, which offer a balance of fuel efficiency, emissions, and practicality compared to fully electric vehicles
- Nvidia climbed above $1,100 for the first time ever, buoyed by news that Elon Musk’s AI startup xAI raised $6 billion in a Series B
- GameStop (GME) soared nearly 25% after raising close to $1 billion from a share sale. Apple (AAPL) also saw gains following a significant increase in iPhone sales in China.
Snack Dynasty: Haldiram’s Rise to a Multi-Billion Dollar Empire
- Haldiram’s skyrockets from Bikaner roots to $8 billion global snack powerhouse.
- Agarwal family’s strategic split and merger propel Haldiram to new heights in the snack industry.
- Bain and Blackstone battle for Haldiram, eyeing a massive acquisition.
#2 India Insights: Adani on Fundraising Spree, RIL Betting on Logistics, NTPC Green IPO Soon
- Adani Group readying its war-chest with the fund raise as it recovered from Hindenburg Saga
- Reliance entering into logistics infrastructure sector with its logistics park in Chennai
- NTPC soon to launch its renewables arm IPO of 10,000 crore after elections
China Power Sector: Where Can We Still Find Value?
- The China Power Sector has revived on the back of industry tariff reforms, higher consumption driven by AI adoption, and an increase in grid investments. Yet, there are still values.
- China Power International (2380 HK) and Huaneng Power Intl Inc H (902 HK) are the power conglomerates that look attractive on fundamentals, earnings and valuations.
- Among clean energy names, China Longyuan Power (916 HK) is a laggard YTD. However, earnings growth should accelerate and its multiples are not stretched.
[Blue Lotus Daily – TMT Update]:700 HK/JD US/AAPL US/1810 HK/2618 HK/BABA US/PDD US/VIPS US/3690 HK
- 700 HK:<DnF Mobile> officially launched today, with good first-day performance.（+）
- JD US/AAPL US/1810 HK: iPhone prices cut by 20%+ for 6.18 shopping festival (+/-/-)
- JD US/2618 HK/BABA US/PDD US/VIPS US: JD begins cracking down on “big enterprise disease” through layoffs and stricter corporate culture (+/+/-/-/-)
#6Business Buzz: Tech Giants Clash in India, Apple Triumphs in China, Nasdaq Rises
- U.S. Tech Lobby opposes India’s antitrust law, fearing cost hikes and investment hurdles.
- Apple’s China iPhone shipments surge 52% in May, driven by discounts and sales preparation.
- Nasdaq 100 Futures rise on Apple’s China surge, but global markets remain cautious.
The Highlights – Cannabis News for the Week Ending May 24, 2024
- MSOS fell 14.90% last week, while YOLO dropped 8.72%. Of the larger MSOs, Verano (NEO: VRNO, OTCQX: VRNOF) got hit hardest at -20.77%.
- MariMed (CSE: MRMD, OTCQX: MRMD) at -4.61% and Cannabist (NEO: CBST, OTCQX: CBSTF) at -7.43% held up best, but the entire top 10 was down last week.
- Cannabis stocks continue to sell off in the face ostensibly good news
Furniture/Furnishings Weekly – May 28, 2024
- A tough week for our indexes. It was a down week in the market for Water Tower Research’s Residential Manufacturers & Suppliers Index (-6.4%) and Home Goods Retailers Index (- 6.7%) relative to the broader market indexes (-0.1% to -1.5%) and the Mass Retailers Index (-1.6%).
- On a relative basis, the Commercial/Contract Furniture Index (-1.0%) outperformed.
- Leggett reappointed Karl Glassman as CEO. Amidst the ongoing mattress industry recession/depression, Glassman, who served as Leggett’s CEO from 2016 to 2021 and Board Chair since 2020, was again appointed President and CEO, succeeding CEO Mitch Dolloff, who resigned.
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