In today’s briefing:
- Samsonite (1910 HK): Time To Revisit After >20% Pullback + Just Announced Share Buyback
- Core Scientific Rejects The CoreWeave Unsolicited Offer But What Value Could They Be Expecting? What Makes Them So Attractive? – Financial Forecasts
- ETF Flows Shine As BTC Flirts With Range Highs
- Weekly Compass – Mixed Signals, Reasons for Caution
- SmartRent Exploring A Potential Sale! – Strategic Expansion in Community WiFi Solutions & 3 Other Factors Making It An Attractive Acquisition Target! – Financial Forecasts
- Bakkt Holdings Weighing A Potential Sale But Can It Get Acquired? At What Value? – Financial Forecasts
- [ETP 23/2024] Jittery Crude And Fiery Natural Gas Markets Defined Energy Markets Last Week
- International Paper: What Value Could They Extract From Suzano & What Makes Them So Valuable? – Financial Forecasts
- BigCommerce Holdings – Special M&A Report – What Valuation Can It Extract In The Event Of A Potential Acquisition? – Financial Forecasts
- BrainStorm Cell Therapeutics (BCLI) Initiation 11062024
Samsonite (1910 HK): Time To Revisit After >20% Pullback + Just Announced Share Buyback
- Samsonite is similar to another HK-listed company that I have written extensively about, L’Occitane (973 HK), in that they are both western brands selling globally but somehow listed on HKSE.
- The company announced a share buyback program this morning. The company targets to repurchase up to USD200m, which is around 4.3% of the total shares outstanding.
- With the announcement of the share buyback plan, it offers an attractive entry point for the stock, as I like the fundamentals of the company and the valuation is cheap.
Core Scientific Rejects The CoreWeave Unsolicited Offer But What Value Could They Be Expecting? What Makes Them So Attractive? – Financial Forecasts
- Core Scientific, a leading entity in the cryptocurrency mining and data center sector, has recently positioned itself as a pivotal player in the evolving digital infrastructure landscape.
- The firm reported robust financials for the first quarter of Fiscal Year 2024, showcasing significant growth and operational efficiency.
- Notably, Core Scientific rejected an unsolicited acquisition proposal from CoreWeave, an event that merits analysis concerning its impact on shareholder value and corporate strategy.
ETF Flows Shine As BTC Flirts With Range Highs
- BTC Spot ETFs see record inflows, signaling strong market interest despite flat prices.
- Market structure remains bullish as BTC consolidates near all-time highs, indicating potential breakout.
- Altcoins suffer double-digit drawdowns amid BTC’s resilience, highlighting market dispersion.
Weekly Compass – Mixed Signals, Reasons for Caution
- The U.S. dollar has staged a false breakdown and is now on the cusp of a reversal.
- False breakdown on 10-yr yield at the critical 4.35% level. Simply put, higher yields tend to pressure the equity markets.
- IWM breaking to new RS lows, violating 7-month RS support. Quality related names continue to be leadership within the market, and Technology continues to dominate relative performance.
SmartRent Exploring A Potential Sale! – Strategic Expansion in Community WiFi Solutions & 3 Other Factors Making It An Attractive Acquisition Target! – Financial Forecasts
- SmartRent has provided a noteworthy set of results for the first quarter of 2024, accompanied by the company’s initiative of exploring a potential sale.
- In the recent report, SmartRent disclosed a revenue for the quarter amounting to $50.5 million, with $12 million attributable to SaaS (Software as a Service) recurring revenue products, representing a year-over-year increase of 32%.
- This growth is largely driven by the scaling of total deployed units and new gains from cross-selling strategies, demonstrating an effective execution of their business and product expansion strategy.
Bakkt Holdings Weighing A Potential Sale But Can It Get Acquired? At What Value? – Financial Forecasts
- Bakkt Holdings, a crypto platform company, has recently reported its financial results for the first quarter of 2024, showcasing various strengths and facing some challenges as it explores potential sale opportunities.
- The CEO emphasized the focus on growing the client network, enhancing the product portfolio, and aligning costs with strategic priorities.
- The CFO outlined financial details, stressing cost management and asset growth.
[ETP 23/2024] Jittery Crude And Fiery Natural Gas Markets Defined Energy Markets Last Week
- Crude oil prices crater as OPEC meeting outcome fails to support oil prices. Despite OPEC+ extending larger cuts until end-2025, prices fell on fears of excess supply.
- Henry Hub Gas prices rose sharply last week driven by expectations of a hotter-than-expected summer in the US & Outages in Norway.
- Energy majors fell sharply on 3/June and ended the week in the red. BP and Exxon Mobile were downgraded. Berkshire ramped up holdings in Occidental.
International Paper: What Value Could They Extract From Suzano & What Makes Them So Valuable? – Financial Forecasts
- International Paper, a prominent player in the paper and packaging industry, recently disclosed its financial results for the first quarter of 2024.
- These results are pivotal when assessing the company’s current operational efficiency and financial health, especially considering its potential acquisition by Suzano, a Brazilian firm also in the paper and packaging sector.
- The reported quarter saw International Paper navigating through a mix of challenges and strategic advancements.
BigCommerce Holdings – Special M&A Report – What Valuation Can It Extract In The Event Of A Potential Acquisition? – Financial Forecasts
- BigCommerce has made notable strides in improving its business model and focusing on efficient revenue growth, particularly in the first quarter of 2024.
- As expressed by the company’s CEO, Brent Bellm, and CFO, Daniel Lentz, on their latest financial results, BigCommerce reported a 12% year-over-year revenue increase to approximately $80 million.
- This growth combined with an adjusted EBITDA of just over $4 million, indicating a trajectory towards sustainable profitability.
BrainStorm Cell Therapeutics (BCLI) Initiation 11062024
- BrainStorm Cell Therapeutics Inc. (Nasdaq: BCLI, Biotech) is focused on developing autologous mesenchymal stem cell (MSC) therapies for the treatment of neurodegenerative diseases (NDDs) – BCLI’s primary target is the fatal amyotrophic lateral sclerosis (ALS/MND/Lou Gehrig’s).
- Post hoc analysis of BCLI’s PIII trial data shows BCLI’s NurOwn® (debamestrocel, MSC-NTF), has statistically significant clinical effects on early-stage ALS sufferers and that placebo trialists deteriorate faster.
- Peer reviewed research (Mar 2024) indicated that BCLI’s NurOwn® has a positive impact on NfL biomarkers for ALS.
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