In today’s briefing:
- Tata Technologies IPO – Parent and Peer Rally Helps
- Year-End Rally Underway; Many Bullish Reversals/False Breakdowns; Buys: Tech, Cons. Disc., RE, Steel
- First Huawei-Chery EV Ready for Pre-Order
- EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades-Ride the Wave
- Shake Up at OpenAI: Sam Gone, Mira Is Interim CEO, Greg Not Chairman but Remains as President
Tata Technologies IPO – Parent and Peer Rally Helps
- Tata Technologies (TT) is looking to raise around US$370m in its upcoming India IPO.
- Tata Technologies is a global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers (OEMs) and their tier 1 suppliers.
- In our previous note, we looked at the company’s past performance. In this note, we talk about valuations.
Year-End Rally Underway; Many Bullish Reversals/False Breakdowns; Buys: Tech, Cons. Disc., RE, Steel
- We believe there is significant evidence that global equities (MSCI ACWI) have bottomed, and a year-end rally has begun. Buys highlighted in global Technology, Discretionary, Real Estate, and Steel/Mining.
- We discussed in our prior Int’l Compass (11/2/23) how the false breakdown in MSCI ACWI (local currency) was bullish, and a potent rally has ensued. We expect more upside ahead.
- Now getting bullish 3+ month downtrend reversals and false breakdowns in the EURO STOXX 50, ACWI-US, MSCI ACWI ex-US (ACWX-US), MSCI EM (EEM-US), and EAFE (EFA-US). Major risk-on signals everywhere.
First Huawei-Chery EV Ready for Pre-Order
- Huawei Technologies Co. Ltd. on Thursday began taking preorders for the first electric vehicle (EV) it co-developed with auto partner Chery Automobile Co. Ltd., upping the ante in its push into China’s highly competitive EV market.
- Equipped with a digital cockpit powered by Huawei’s HarmonyOS 4.0 and an advanced assisted driving system, the Luxeed S7 is the first electric sedan marketed under Huawei’s Smart Selection business model. The previous releases with other auto partners were SUVs.
- The Luxeed S7 is available for pre-order in four versions with a starting price of 258,000 yuan ($35,417), according to Huawei’s Vmall website.
EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades-Ride the Wave
- 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
Shake Up at OpenAI: Sam Gone, Mira Is Interim CEO, Greg Not Chairman but Remains as President
- Sam Altman – one of OpenAI’s founders and its CEO – has been ousted from the firm citing lack of consistent communication with the board.
- OpenAI has garnered significant spotlight around Gen AI. Surely it is generating revenues at a rapid clip but far from making profits. What will this leadership transition mean?
- Sam’s ousting was totally not expected. On 6th November, OpenAI held its first ever developer conference which was led by him. Earlier this week, he spoke at APEC conference.
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