In today’s briefing:
- Index Rebalance & ETF Flow Recap: S&P/ASX, KOSPI, NIFTYJR, Kakao Pay, HK Electric, Adani Group
- AMD: Underperforming The Market While Margins Hit All-Time Highs
- EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades
- PayPal Holdings Inc.: Major Drivers
Index Rebalance & ETF Flow Recap: S&P/ASX, KOSPI, NIFTYJR, Kakao Pay, HK Electric, Adani Group
- The announcement of the changes to the FTSE GEIS was made on Friday post market close. Friday was also the cutoff for the March review of the S&P/ASX indices.
- Monday is the review cutoff for some indices, while Friday is the announcement of the changes to the Hang Seng family of indices and the SSE STAR50 (STAR50 INDEX).
- There were big outflows from the IShares Edge MSCI Min Vol Emerging Markets ETF (EEMV US) for yet another week taking YTD outflows to nearly US$3bn.
AMD: Underperforming The Market While Margins Hit All-Time Highs
- AMD’s revenue and margins hit an all-time high, and that’s bad news for AMD.
- Investors should pay close attention to decisions regarding capital allocation, according to the product roadmap.
- AMD is no longer the only game in town for semiconductors, and this is bad news to AMD.
EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades
- Weekly summary of vol changes and moves across Global Markets
- Analysing ATM volatility and skew changes over the last 5 days
- We suggest a few trades to take advantage of the implied vol surfaces
PayPal Holdings Inc.: Major Drivers
- PayPal Holdings delivered strong results in the last quarter surpassing Wall Street expectations in terms of revenues as well as earnings.
- In the quarter, eBay Marketplaces revenue fell by 31%, and the take rate on these volumes dropped from 2.29% to 1.95%.
- We give PayPal Holdings a ‘Buy’ rating with a revised target price.
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