Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>The Trump administration proposed a new 100% tariffs at movies produced outside the United States. Korean contents account for about 8-9% of total viewing hours on Netflix globally.</li>
<li>Top three listed film/drama production companies in Korea including Studio Dragon, CJ ENM, and ContentreeJoongAng are likely to be negatively impacted by the new major tariffs imposed by the U.S.</li>
<li>Economics of making a movie is much cheaper in South Korea versus the U.S. Producing a film in South Korea can cost 30–70% less than in the United States.</li>
</ul>


The Trump administration proposed a new 100% tariffs at movies produced outside the United States. Korean contents account for about 8-9% of total viewing hours on Netflix globally.
Top three listed film/drama production companies in Korea including Studio Dragon, CJ ENM, and ContentreeJoongAng are likely to be negatively impacted by the new major tariffs imposed by the U.S.
Economics of making a movie is much cheaper in South Korea versus the U.S. Producing a film in South Korea can cost 30–70% less than in the United States.


A 100% Tariffs on Films Produced Outside the U.S. - Negative on Korean Film Production Companies

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

<ul>
<li>MNTN, Inc. (pronounced "mountain"), leader in OTT advertising software and first mover of PTV in the United States, filed to go public.</li>
<li>Founder-Led adtech company was backed by Fidelity, BlackRock, Greycroft, SV Angel, Qualcomm Ventures, and Baroda Ventures, among others.</li>
<li>I like the company’s leadership position,  high growth, FCF positive business and $60B+ near-term market opportunity centering around SMBs in the United States.</li>
</ul>


MNTN, Inc. (pronounced "mountain"), leader in OTT advertising software and first mover of PTV in the United States, filed to go public.
Founder-Led adtech company was backed by Fidelity, BlackRock, Greycroft, SV Angel, Qualcomm Ventures, and Baroda Ventures, among others.
I like the company’s leadership position,  high growth, FCF positive business and $60B+ near-term market opportunity centering around SMBs in the United States.


MNTN IPO Preview: Fidelity-Backed Category Creator of Performance TV, Watch This Offering Closely

Equity Analyst, LightStream Research

Shifara Samsudeen, FCMA, CGMA

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cyberagent-inc" target="_blank" data-smartkarma-citation="entities:8197:1" rel="noopener">CyberAgent Inc (4751 JP)</a> reported 1QFY09/2025 results today. 1Q revenues beat consensus but reported OP fell below consensus due to weak gaming margins.</li>
<li>The key highlight of the quarter was the strong results of the Media business whose revenues saw strong growth with strengthened profitability.</li>
<li>Though game earnings were slightly weak during 1Q, we would not be too worried as app analysis data reveals that the segment is off to a strong start in 2QFY09/2025.</li>
</ul>



CyberAgent Inc (4751 JP) reported 1QFY09/2025 results today. 1Q revenues beat consensus but reported OP fell below consensus due to weak gaming margins.
The key highlight of the quarter was the strong results of the Media business whose revenues saw strong growth with strengthened profitability.
Though game earnings were slightly weak during 1Q, we would not be too worried as app analysis data reveals that the segment is off to a strong start in 2QFY09/2025.


CyberAgent 1Q: Media Business Continues to Show Solid Growth

Podcast from BlackRock, The Bid

The Bid

Podcast from BlackRock

The Bid breaks down what’s happening in the world of investing and explores the forces changing the economy and finance. From stock market outlooks and megatrends to geopolitics and technology, BlackRock speaks to thought leaders and industry experts from around the globe about the biggest trends moving markets.

Thematic (Sector/Industry)

<ul><li>AI's evolution is poised to revolutionize industries and economies globally, with potential for job transformation and economic growth.</li><li>The build-out phase of AI is benefiting companies in sectors like chip producers and data center architecture, with opportunities expanding into adoption and transformation phases.</li><li>Investors can position themselves for success by taking an active approach, seeking expertise and identifying promising opportunities in the AI space for long-term growth and value gains.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

AI's evolution is poised to revolutionize industries and economies globally, with potential for job transformation and economic growth.The build-out phase of AI is benefiting companies in sectors like chip producers and data center architecture, with opportunities expanding into adoption and transformation phases.Investors can position themselves for success by taking an active approach, seeking expertise and identifying promising opportunities in the AI space for long-term growth and value gains.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Our outlook remains bullish following the S&amp;P 500's multi-month base breakout above 5670, alongside healthy market dynamics which have continued to improve.</li>
<li>Two weeks ago, our election day report (11/5/24) was titled "Buy the Pullback," and with the SPX/QQQ/IWM pulling back to their 20-day MAs, it's time to buy the pullback again.</li>
<li>We continue to expect significant upside into year-end and early 2025, and we expect support at the 20-day MAs on the aforementioned indexes (though support at 50-day MAs is possible).</li>
</ul>


Our outlook remains bullish following the S&amp;P 500's multi-month base breakout above 5670, alongside healthy market dynamics which have continued to improve.
Two weeks ago, our election day report (11/5/24) was titled "Buy the Pullback," and with the SPX/QQQ/IWM pulling back to their 20-day MAs, it's time to buy the pullback again.
We continue to expect significant upside into year-end and early 2025, and we expect support at the 20-day MAs on the aforementioned indexes (though support at 50-day MAs is possible).


Buy the Pullback Again; S&P 500, Nasdaq 100, Russell 2000 Testing Confluence of Support

United States

Netflix Inc. is an Internet subscription service for watching tv shows and movies. Subscribers can instantly watch unlimited TV shows and movies streamed over the Internet to their TVs, computers and mobile devices and in the United States, subscribers can receive standard definition DVDs and Blu-ray Discs delivered to their homes.

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Netflix Inc (NFLX US)

A 100% Tariffs on Films Produced Outside the U.S. - Negative on Korean Film Production Companies

Top three listed film/drama production companies in Korea including Studio Dragon, CJ ENM, and ContentreeJoongAng are likely to be negatively...

Douglas Kim

MNTN IPO Preview: Fidelity-Backed Category Creator of Performance TV, Watch This Offering Closely

MNTN, inc., an adtech software platform provider and category creator of Performance TV, plans to go public in the United States. The company was...

Andrei Zakharov

CyberAgent 1Q: Media Business Continues to Show Solid Growth

CA's 1Q revenues beat consensus but OP fell below. Key highlight was the stellar performance of the Media business. Though game earnings were...

Shifara Samsudeen, FCMA, CGMA

AI's Three Investing Phases

The article discusses how AI is revolutionizing industries globally, with investors strategizing on how to capitalize on the technology's evolution...

The Bid

Buy the Pullback Again; S&P 500, Nasdaq 100, Russell 2000 Testing Confluence of Support

Buy the Pullback Again, Same as Our Election Day Report; S&P 500 $SPX, Nasdaq 100 $QQQ, Russell 2000 $IWM Testing Confluence of Support at 20-day...

Vermilion Research

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