In today’s briefing:
- Ansarada (AND AU)’s Scheme Is Back On Track
- A8 Media (800 HK): 23rd August Shareholder Vote
- Taiwan Tech Weekly: Hit Hard By AI/Tech Pullback; Watch UMC, Mediatek, Realtek, AMD, MSFT Earnings
- Texas Instruments: Is Its China Revival Here To Stay? – Major Drivers
- Mainland Connect NORTHBOUND Flows (To 19 July 2024): A Big Broad Sell in Third Plenum Week
- S&P 500 / S&P 1500: Exclusion by Earnings
- Pureprofile Ltd – Maiden positive NPAT FY24 EBITDA in line with guidance
- Sms Co Ltd (2175 JP): Q1 FY03/25 flash update
- Spotify Technologies: Will Its Focus On Podcasting and Content Diversification Give A Much Needed Boost To Profitability? – Major Drivers
- Alphabet Inc.: Is There A Silver Lining In Its AI Innovations? – Major Drivers
Ansarada (AND AU)’s Scheme Is Back On Track
- Datasite’s A$2.50/share, in cash, lifetime-high Offer for virtual room provider Ansarada Group Ltd (AND AU), announced on the 13th Feb, appeared a total slam dunk.
- And for the most part it was, with the Explanatory Doc lodged on the 12th April, and Scheme Meeting initially scheduled for the 14th June. Then the ACCC waded in.
- The ACCC has now signed off. FIRB will follow shortly. The revised Scheme Meeting will be held on the 19 August, with expected implementation on the 6 September.
A8 Media (800 HK): 23rd August Shareholder Vote
- Back on the 12th June, PRC property rental play A8 New Media (800 HK) announced an Offer by way of a Scheme from chairman/founder/major shareholder Liu Xiaosong.
- The Cancellation price was $0.36/share, a punchy 162.77% to last close. The price was declared final.
- The Scheme Doc is now out, with an independent shareholder vote on the 23 August and payment on or around the 2nd October. This is a done deal.
Taiwan Tech Weekly: Hit Hard By AI/Tech Pullback; Watch UMC, Mediatek, Realtek, AMD, MSFT Earnings
- Top Gainers/Loser: Taiwan Tech Stocks Hit Hard Last Week By Global AI/Tech Pullback
- Key Events This Week: Major Earnings Week Including UMC, Mediatek, Realtek, AMD, Microsoft
- TechChain Insights: Call with Silicon Motion; QLC NAND Emerging as Key Enabler for AI Devices
Texas Instruments: Is Its China Revival Here To Stay? – Major Drivers
- The Texas Instruments had a mixed Q2, reporting revenue of $3.8 billion, a 4% sequential increase but 16% YoY decline.
- This contrasted with their optimistic revenue predictions for Q3, forecasting in the range of $3.94 billion to $4.26 billion.
- This could have been due to the decline in Analog revenue by 11% YoY, Embedded Processing by 31%, and its Other segment by 22% from YoY quarter.
Mainland Connect NORTHBOUND Flows (To 19 July 2024): A Big Broad Sell in Third Plenum Week
- The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.
- Last week saw NORTHBOUND net SELL RMB 11.4bn of A-shares. NORTHBOUND sold everything. Seemed somewhat cap-weighted. Not a pretty flow picture.
- A-Shares sharply underperformed HK indices, but AH spreads didn’t recover the prior week’s disaster. That said, there WAS dip-buying this week on the worst hit, which is unusual recently.
S&P 500 / S&P 1500: Exclusion by Earnings
- The ‘Financial Viability’ (GAAP earnings) criterion is the main obstacle that keeps companies out of the S&P 500 and overall S&P 1500.
- Uber Technologies (UBER US) and Crowdstrike Holdings (CRWD US) are past examples of companies that got added to S&P 500 after passing the GAAP Earnings criterion.
- Marvell Technology (MRVL US) and Snowflake (SNOW US) are currently ineligible for S&P 500 inclusion due to failing the GAAP Earnings eligibility requirement.
Pureprofile Ltd – Maiden positive NPAT FY24 EBITDA in line with guidance
- RaaS Research Group has published an update report on data analytics company Pureprofile (ASX:PPL) following the release of its unaudited FY24 results which included a maiden NPAT of $0.1m, a $2.0m turnaround on FY23, and EBITDA of $4.4m, down 4% on the pcp but within the guidance range of $4.1m to $4.4m.
- FY24 EBITDA was ahead of our forecast for $4.3m.
- Revenue for the year was $48.1m, again within the company’s guidance range of $48m to $49.1m, although a little below our forecast for $49.0m.
Sms Co Ltd (2175 JP): Q1 FY03/25 flash update
- Sales increased by JPY2.2bn YoY, driven by higher sales in Career and Elderly Care and Disability Welfare Operators segments.
- Operating profit declined by JPY729mn YoY due to higher advertising and other expenses exceeding sales increase.
- Kaipoke member locations increased to 29,900 (+10.5% YoY) and elderly care facilities to 51,950 (+12.2% YoY) as of July 1, 2024.
Spotify Technologies: Will Its Focus On Podcasting and Content Diversification Give A Much Needed Boost To Profitability? – Major Drivers
- Spotify has reported a solid performance for the second quarter of 2024, characterized by notable strides in subscriber growth, profitability, and revenue enhancements.
- The company’s delivery on key metrics evidenced a substantiation of their dual commitment to offering a robust product while proving their business sustainability.
- Their execution of strategic initiatives such as diversified subscription plans and regional price adjustments contributed positively to the financial results.
Alphabet Inc.: Is There A Silver Lining In Its AI Innovations? – Major Drivers
- Alphabet Inc. witnessed a notable second quarter, proving its strong stance in the market with increased momentum in Search and substantial progress in Cloud, largely centered around its use of artificial intelligence (AI).
- The company’s quarter was highlighted by tremendous results in Search with the platform having another booming quarter.
- The AI initiatives seem to be driving new growth contributing positively to these results.
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