All Posts By

Smartkarma Daily Briefs

Apr 19
0

Daily Brief Equity Bottom-Up: Perfect Medical: Post Card From HK and more

By | Daily Briefs, Equity Bottom-Up

In today’s briefing:

  • Perfect Medical: Post Card From HK, Yield of 11.5%
  • What Is TSMC Telling Us About Semi Supply Chain Stories at Its Investor Conference?
  • TSMC (2330.TT; TSM.US): 2Q24F Sales in Line, 2024F Is Lowering the Growth Target Below 25% YoY
  • Greenhaven Road’s Scott Miller shares his thoughts on point of sale business, PAR Technologies $PAR
  • IMMR: New Investment and the Impact
  • Wix.com Ltd.: A Story Of Product Enhancements & Innovations Fueled by AI! – Major Drivers
  • AppFolio Inc.: Advancements in Artificial Intelligence (AI) & 3 Key Growth Levers
  • KBR Inc.: How Significant Is The Upside In Government Solutions? – Major Drivers
  • Telix Pharmaceuticals (TLX AU): Accelerated US Growth in 1Q24; Two More US Launches Likely in 2024
  • SentinelOne Inc.: Is Its Focus On Key Areas Of Competitive Strength Paying Off? – Major Drivers

Perfect Medical: Post Card From HK, Yield of 11.5%

By Sameer Taneja

  • Perfect Medical Health (1830 HK), post a correction of consumer discretionary stocks in HK, now trades at a yield of 11.5%, with cash&investments representing 24% of the market cap.
  • HK is experiencing a dip in consumer sentiment, and the company isn’t immune to it, but flat sales/profitability, a 24% net margin, and >40% ROE provide great margin of safety.
  • The stock trades at 9.3x FY24 PE and 11.5% yield (assuming a 110% payout average across company history) with a growth option once the HK economy kickstarts.

What Is TSMC Telling Us About Semi Supply Chain Stories at Its Investor Conference?

By Andrew Lu

  • TSMC reiterates 2024 sales y/y growth of 20-25% but revises down 2024 global semiconductor y/y sales from over 10% to 10% and global foundry sales growth from 20% to 15-19%.
  • No more Moore’s Law: After 3 years ramp up gap between N5-N3, TSMC confirms 10-11 quarters of ramp up gap between N3 and N2 due to longer production cycle.
  • Driven by stronger digital consumer (33% q/q), HPC (3% q/q), IoT (5% q/q) sales but weaker smartphone IC (-16% q/q), TSMC reports 1Q24 sales decline of only 5% q/q.

TSMC (2330.TT; TSM.US): 2Q24F Sales in Line, 2024F Is Lowering the Growth Target Below 25% YoY

By Patrick Liao

  • Declaring a slower recovery for mature nodes was an outlier, indicating that Vanguard’s recovery progress might be slower. 
  • Apple’s iPhone is expected to be the focus for N2 production in 4Q15F.  
  • TSMC’s long-term gross margin is set at 53%, signifying a few key points. 

Greenhaven Road’s Scott Miller shares his thoughts on point of sale business, PAR Technologies $PAR

By Yet Another Value Podcast

  • Interview with Scott Miller, CIO at Greenhaven discussing Par technologies and recent developments
  • Par technologies is a stable point of sale software company focused on food services industry
  • Company has shown strong progress in organic growth and acquisitions, with potential for further upside in the stock market

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

IMMR: New Investment and the Impact

By Hamed Khorsand

  • IMMR is using the gains from Q124 to make an investment in BNED. IMMR intends to invest $45 million to purchase new shares at $0.05 per share.
  • IMMR’s stock continues to trade at a slight premium to cash even though the operating business has continued to expand in auto
  • IMMR disclosed it ended the first quarter of 2024 with approximately $200 million in shareholder equity. This would equate to a sequential increase of approximately $17 million

Wix.com Ltd.: A Story Of Product Enhancements & Innovations Fueled by AI! – Major Drivers

By Baptista Research

  • Wix reported strong Q4 2023 earnings underpinned by its pivot to AI innovation.
  • 2023 was a year of significant progress for the firm as it demonstrated robust growth, reaching record profitability levels.
  • With the focus on AI, Wix introduced an array of AI-powered features that would help users create web content more efficiently, resulting in improved monetization and heightened user conversion rates.

AppFolio Inc.: Advancements in Artificial Intelligence (AI) & 3 Key Growth Levers

By Baptista Research

  • AppFolio, Inc. has shown a steady growth pattern in its fourth quarter of 2023, which according to the results, has been due to a sharp expansion in innovation alongside profitable growth.
  • In the final quarter, the revenue of the company increased by 39% year over year reaching $172 million.
  • This steady surge has contributed to an annual increase of 31%, pushing the total to $620 million.

KBR Inc.: How Significant Is The Upside In Government Solutions? – Major Drivers

By Baptista Research

  • KBR, Inc. achieved solid results in the Q4 and FY 2023, meeting or exceeding expectations on all key metrics.
  • Revenue grew by 11%, and adjusted EBITDA by 12% year-on-year, with margins increasing to 10.7%.
  • Cash management was a highlight, with the company settling both the convert and warrants in cash, reducing share count while avoiding dilution, and management described it as ‘delivering on its commitment to maximise shareholder return.’ The company ended the year with a good order backlog, providing visibility of future earnings potential.

Telix Pharmaceuticals (TLX AU): Accelerated US Growth in 1Q24; Two More US Launches Likely in 2024

By Tina Banerjee

  • Telix Pharmaceuticals (TLX AU) reported 18% QoQ revenue growth in 1Q24. The U.S. revenue growth accelerated to 18% QoQ in 1Q24, compared to 11% in 4Q23 and 13% in 3Q23.
  • Telix reaffirmed guidance and expects 2024 revenue of $445–465M, representing 35–40% YoY increase. The current quarterly U.S. revenue run-rate of Illuccix matches the lower end of the guidance.
  • Telix is on track to launch three products in U.S. this year. Two of them have an estimated initial market opportunity of $600–640M, with upside potential from indication expansions.

SentinelOne Inc.: Is Its Focus On Key Areas Of Competitive Strength Paying Off? – Major Drivers

By Baptista Research

  • SentinelOne closed the year with stellar performance, surpassing its fourth-quarter expectations across all metrics, including revenue, gross margin, and operating margin.
  • Moreover, the company reported its annual recurring revenue (ARR) grew by 39% year-over-year to $724 million, primarily due to new customer acquisitions and strong expansion rates.
  • The growing interest in AI-powered security solutions, driven by the rising incidence of cyberattacks, is resulting in robust demand for SentinelOne’s offerings.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Apr 19
0

Daily Brief Credit: ENN Energy – Tear Sheet – Lucror Analytics and more

By | Credit, Daily Briefs

In today’s briefing:

  • ENN Energy – Tear Sheet – Lucror Analytics
  • Morning Views Asia: China Jinmao Holdings, JSW Steel Ltd, Sands China, Yuexiu Property

ENN Energy – Tear Sheet – Lucror Analytics

By Leonard Law, CFA

We view ENN Energy as “Low Risk” on the LARA scale. This reflects the company’s large scale and diversified business profile across Mainland China as well as its robust financial position, with low leverage. These are balanced against ENN Energy’s exposure to commodity price risks and potential changes in government policies. In addition, the company has ongoing related-party transactions.

Our fundamental Credit Bias on ENN Energy is “Stable”, supported by the defensive nature of the industry and the company’s good cash-flow generation. ENN Energy has maintained c. 1.0x net leverage over the past five years.

Controversies are “Immaterial” and the ESG Impact on Credit is “Neutral”. While natural gas is a fossil fuel, it has a lower carbon footprint compared to coal, and has been regarded as a “transition fuel” for countries currently dependent on coal (e.g. China and Indonesia). This will likely support strong gas demand over the next decade, particularly in developing countries.

We have a “Hold” recommendation on the XINAOG notes, with the 2.625 ’30s at 83.9/5.6%/5.7 years.

Morning Views Asia: China Jinmao Holdings, JSW Steel Ltd, Sands China, Yuexiu Property

By Leonard Law, CFA

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Apr 19
0

Daily Brief Event-Driven: Azure Min’s (AZS AU)’s “Boost” As Gina Ups Stake in Lynas and more

By | Daily Briefs, Event-Driven

In today’s briefing:

  • Azure Min’s (AZS AU)’s “Boost” As Gina Ups Stake in Lynas
  • Shinko Electric (6967 JP): Widening Spread Is an Opportunity
  • Inageya (8182 JP): Share Exchange Offer from USMH (3222 JP)
  • SoftBank (9984 JP): Arm Out-Stretched (On Valuation) And Is JPY Depreciation Largely Done?
  • NPN X PRX: Discounts Widen as Fed Pivots on Rate Outlook

Azure Min’s (AZS AU)’s “Boost” As Gina Ups Stake in Lynas

By David Blennerhassett

  • On the 8th April, Azure Minerals (AZS AU) shareholders overwhelmingly approved the Sociedad Quimica y Minera (SQM US)/Gina Rhinehart’s Hancock transaction. Shares promptly closed down 7% on regulatory approval fears.
  • Those fears are unwarranted. China’s Tianqi Lithium would indirectly own just ~11% in Azure post-deal.  China has recently lifted anti-dumping tariffs on a range of Aussie products. FIRB won’t block.
  • An expected approval may have spurred Gina to buy more shares in Lynas (LYC AU). Why buy now if FIRB dings Azure; that outcome would push the whole sector lower.

Shinko Electric (6967 JP): Widening Spread Is an Opportunity

By Arun George

  • Shinko Electric Industries (6967 JP)‘s pre-conditional tender offer from the JIC alliance is JPY5,920 per share. The gross spread widened from a low of 3.1% on 14 March to 7.0%. 
  • The widening spread can be attributed to China SAMR approval timing, earnings risk, Ibiden Co Ltd (4062 JP)’s material underperformance lowering the break price and a large fund liquidating positions. 
  • The deal break risks remain low with the timing remaining the key risk. The current 7.0% spread is an attractive opportunity to add. 

Inageya (8182 JP): Share Exchange Offer from USMH (3222 JP)

By Arun George

  • Inageya Co Ltd (8182 JP) announced a share exchange offer by United Super Markets (3222 JP) at 1.46 USMH shares per Inageya share.
  • The share exchange aligns with Aeon Co Ltd (8267 JP)’s well-flagged intention of making Inageya a wholly-owned subsidiary of USMH.
  • Aeon’s 50%+ shareholding in Inageya and USMH facilitates the two EGM votes. The deal metrics are broadly fair for both sets of shareholders. 

SoftBank (9984 JP): Arm Out-Stretched (On Valuation) And Is JPY Depreciation Largely Done?

By Victor Galliano

  • Arm – which we estimate accounts for 45% of SoftBank group’s equity value – is experiencing limits to its “growth at any price” stock status; the shares fell 12% yesterday
  • The JPY’s depreciation is supportive of the group NAV, but with the Fed’s hawkish stance well known and BoJ expected to raise interest rates, JPY weakness may be largely done
  • SoftBank shares trade at a wide 53%+ discount to the estimated NAV; yet we see downside risks to Arm’s valuation, along with the potential for JPY weakness to reverse

NPN X PRX: Discounts Widen as Fed Pivots on Rate Outlook

By Charlotte van Tiddens, CFA

  • The discounts of both Naspers and Prosus have widened during the last 5 trading sessions.
  • We see current levels as attractive entry points for trading the rump.
  • In our view, there are a number of fundamental factors that could act as positive catalysts to a further structural narrowing of the discount.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Apr 19
0

Daily Brief Crypto: Crypto Moves #24 – Bitcoin Is A Safe Haven When There’s Nothing to Worry About and more

By | Crypto, Daily Briefs

In today’s briefing:

  • Crypto Moves #24 – Bitcoin Is A Safe Haven When There’s Nothing to Worry About

Crypto Moves #24 – Bitcoin Is A Safe Haven When There’s Nothing to Worry About

By Mads Eberhardt

  • In issue #17 of Crypto Moves, we described MicroStrategy’s co-founder and Chairman, Michael Saylor, as today’s Satoshi Nakamoto when it comes to Bitcoin narratives.
  • While Satoshi Nakamoto was the creator of Bitcoin and the miner of its genesis block, Michael Saylor has emerged as a key leader in the last few years, promoting and supporting the current narratives that have driven Bitcoin to new peaks.
  • These narratives have primarily centered on Bitcoin being a store of value, especially as an inflation hedge and a safe haven during economic crises and geopolitical instability.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Apr 19
0

Daily Brief Macro: EM Gold Rush: The pressure valve amid Asian FX debasement risks? and more

By | Daily Briefs, Macro

In today’s briefing:

  • EM Gold Rush: The pressure valve amid Asian FX debasement risks?
  • 5 Things We Watch – Rates Pricing, Bond Positioning, Equities Setback, USD Wrecking Ball…
  • Asia Ex-Japan Q1 Performance & Attribution:  Strong Start for Active Managers
  • BoE Should Move Behind the Fed and ECB
  • Australia Unemployment Rate 3.84% (consensus 3.9%) in Mar-24
  • GEM Funds Outperform in Q1.  Long-Term Active Vs Passive Performance Compelling.
  • Scandi Watch: Assessing the path for SEK and NOK rates

EM Gold Rush: The pressure valve amid Asian FX debasement risks?

By Elias Lisberg Glistrup

  • Welcome to this week’s edition of our EM-focused weekly editorial.
  • This week, we’ve decided to look into the reemerging weakness in Asian FX, and how this corresponds with the still strong momentum in gold prices.
  • Gold rallies have historically coincided with a weaker USD.

5 Things We Watch – Rates Pricing, Bond Positioning, Equities Setback, USD Wrecking Ball…

By Andreas Steno

  • Macro is truly back with central banks and pricing of policy rates back on the top priority list amongst traders and investors.
  • Powell’s remarks from yesterday confirmed fears of the Fed deviating from their promised rate cuts back in December, and the question will now be, whether they will cut rates at all.
  • A pivot from a pivot is tough, but it might be exactly what’s going to happen.

Asia Ex-Japan Q1 Performance & Attribution:  Strong Start for Active Managers

By Steven Holden

  • Strong start to 2024 as majority outperform: Average returns of 3.3% beat the iShares Asia Ex-Japan benchmark, with 66% of funds outperforming.
  • Technology Sector Drives Returns:  Taiwan and South Korean Tech contribute the most to returns, whilst China Financials and Healthcare drag on performance.
  • HDFC Bank and AIA Group costly: Both stocks are among the top overweights among Asia Ex-Japan investors.  Poor performance this quarter cost managers ~ 50bps in losses versus the benchmark.

BoE Should Move Behind the Fed and ECB

By Phil Rush

  • Hawkish surprises in the UK and US data pushed back rate cut pricing. Dovish comments from Bailey still weigh on BoE rates, inappropriately keeping pricing below the Fed.
  • Underlying inflationary pressures are worse in the UK, where wage growth is persistently high and not backed by productivity, causing the UK’s services inflation to be higher.
  • Prevailing policy settings don’t seem set to drive down UK inflationary pressures before the US. Unemployment is trending similarly, suggesting similar monetary tightness.

Australia Unemployment Rate 3.84% (consensus 3.9%) in Mar-24

By Heteronomics AI

  • Australia’s unemployment rate in March 2024 increased slightly less than predicted, showing relative stability in the labour market.
  • The 3.84% unemployment rate is still higher than both the one-year and long-term averages.
  • Employment decreased, indicating a weaker demand in the labour market.
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

GEM Funds Outperform in Q1.  Long-Term Active Vs Passive Performance Compelling.

By Steven Holden

  • Strong start to 2024 as majority of GEM funds outperform: Average returns of 2.8% beat the iShares MSCI EM ETF by 0.66%, with 63% of funds outperforming.
  • Technology Sector Drives Returns: Technology sector the key contributor to returns, with TSMC accounting for just over half of total fund returns on the quarter.
  • Active vs Passive: Q1 performance adds to GEM active fund’s impressive record of outperformance. 5-year average GEM fund returns are +7.4% ahead of the benchmark iShares MSCI EM ETF.

Scandi Watch: Assessing the path for SEK and NOK rates

By Andreas Steno

  • Welcome to a short and sweet Scandi special.
  • After years of working at the biggest bank in the Nordics, I have developed a strong understanding of the rate path model of Norges Bank and we have developed a “cheat sheet” that can live track the path, if it was to be hypothetically updated daily.
  • The overwhelming conclusion is that the path has shifted in a dovish direction since the MPR-1 meeting in March in contrast to global developments.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Apr 18
0

Daily Brief Australia: Lynas Corp Ltd, Codan, Kinatico , State Gas Ltd and more

By | Australia, Daily Briefs

In today’s briefing:

  • Lynas (LYC AU): Gina’s Stake Revives MP Materials Merger
  • Quiddity Leaderboard ASX Jun 24: A Couple of Intra-Review Changes Likely
  • Kinatico Ltd – Q3 NPAT of $0.1m, EBITDA of $0.8m
  • State Gas – Completion Commissioning and a Contract

Lynas (LYC AU): Gina’s Stake Revives MP Materials Merger

By David Blennerhassett

  • Lynas Corp Ltd (LYC AU) is the proverbial Aussie battler. Post the 2018 general elections, the new Malaysian government put Lynas on notice it may halt it rare-earth operations. 
  • Since then, Lynas’ Malaysian facility, which cuts into China’s near-monopoly on processing elements for defense/aerospace/EV/electronics industries, has (mostly) operated without substantial disruptions. Profit peaked in FY22; but has since rolled-over.
  • Gina Rhinehart’s Hancock has now disclosed a 5.82% stake in Lynas; having disclosed a 5.3% stake in MP Materials (MP US) earlier this month. Lynas confirmed discussions with MPM in February.

Quiddity Leaderboard ASX Jun 24: A Couple of Intra-Review Changes Likely

By Janaghan Jeyakumar, CFA

  • In this insight, we take a look at the potential index changes for ASX 200, 100, 50, and 20 in the run-up to the June 2024 index rebal event.
  • There are up to two intra-review changes possible between now and the June 2024 review which could triggered by the Silver Lake (SLR AU) and Boral (BLD AU) deals.
  • Separately, I see one ASX 20 change and two ASX 100 changes for the regular rebalance in June 2024.

Kinatico Ltd – Q3 NPAT of $0.1m, EBITDA of $0.8m

By Research as a Service (RaaS)

  • Kinatico Ltd (ASX:KYP) is a ‘Know Your People’ regtech company providing workforce compliance monitoring and management technology and services.
  • KYP has reported Q3 FY24 EBITDA of $0.8m and NPAT of $0.1m, the first time the company has reported these metrics on a quarterly basis.
  • Revenue was $7.0m for the quarter, flat year-on-year but the composition continued to demonstrate the conversion of one-off transactional revenue to recurring software-as-a-service (SaaS) revenue.

State Gas – Completion Commissioning and a Contract

By Research as a Service (RaaS)

  • With completion, commissioning and a contract secured, first gas is just around the bend.
  • Critically, with the company on the cusp of first gas, it holds first mover advantage over peer group projects where first gas may well be 2026 or later.
  • We assign a NAV of $198m or $0.72/share (down from $0.74/share due to spot gas price adjustment) to GAS against a reference share price of $0.15/share.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Apr 18
0

Daily Brief Thailand: Ngern Tid Lor and more

By | Daily Briefs, Thailand

In today’s briefing:

  • Quiddity Leaderboard SET50 Jun 24: 3 Changes Likely; Banpu Still Not Safe from Deletion

Quiddity Leaderboard SET50 Jun 24: 3 Changes Likely; Banpu Still Not Safe from Deletion

By Janaghan Jeyakumar, CFA

  • The SET50 index tracks the performance of the top 50 largest and most liquid names listed on the Stock Exchange of Thailand (SET).
  • In this insight, we take a look at the potential ADDs/DELs for SET during the index rebal event in June 2024.
  • With roughly half of the 3-month reference period now complete, I see three changes for the SET 50 index but one of those names is still close to the border.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Apr 18
0

Daily Brief South Korea: Lock&Lock, Jeil Machine & Solution and more

By | Daily Briefs, South Korea

In today’s briefing:

  • Lock&Lock Tender Offer: Different Trading Angles Compared to Recent Ssangyong C&E Case
  • Lock & Lock: Affinity Equity Partners Offers a Tender Offer of a 30% Stake at 8,750 Won Per Share
  • Jeil M&S IPO Bookbuilding Results Analysis

Lock&Lock Tender Offer: Different Trading Angles Compared to Recent Ssangyong C&E Case

By Sanghyun Park

  • The tendering price is ₩8,750, roughly 7% higher than the last close. However, Affinity’s commitment makes this event noteworthy.
  • Lock&Lock requires Affinity to target 30%. To reach 95%, securing 25% is needed, much higher than SsangYong C&E, indicating potential price volatility.
  • A second public offering is likely due to the widening gap between the ownership threshold and actual acquisition percentage in Lock&Lock. This could impact prices significantly during the tendering period.

Lock & Lock: Affinity Equity Partners Offers a Tender Offer of a 30% Stake at 8,750 Won Per Share

By Douglas Kim

  • On 17 April, Affinity Equity Partners offered a tender offer of a 30% stake in Lock & Lock at 8,750 won per share.
  • The tender offer period is from 18 April to 14 May.  The number of shares that are included in this tender offer is 13.14 million shares (30.33% of outstanding shares).  
  • Lock & Lock’s share price could trade higher close to the tender offer price of 8,750 won as the date as the end of the tender offer period approaches.

Jeil M&S IPO Bookbuilding Results Analysis

By Douglas Kim

  • Jeil M&S reported excellent IPO bookbuilding results. Jeil M&S’s IPO price has been determined at 22,000 won per share (22% higher than the high end of the IPO price range).
  • A total of 2,164 institutional investors participated in this IPO book building. The demand ratio was 646 to 1. Samhyun will start trading on 30 April 2024. 
  • Our base case valuation of Jeil M&S is target price of 24,354 won per share, which is 11% higher than the IPO price.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Apr 18
0

Daily Brief Singapore: Singapore Post and more

By | Daily Briefs, Singapore

In today’s briefing:

  • kopi-C with SingPost’s Group CFO: “We’re building a Singapore-branded global logistics company”

kopi-C with SingPost’s Group CFO: “We’re building a Singapore-branded global logistics company”

By Geoff Howie

  • kopi-C with SingPost’s CFO: “We’re building a Singapore-branded global logistics company” Its Group Chief Financial Officer Vincent Yik explains its strategy.
  • With the decline in demand for postal services over the years, Singapore Post (SingPost), the country’s postal service provider, is pivoting to the logistics sector to survive and thrive, shares its Group Chief Financial Officer Vincent Yik.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free


Apr 18
0

Daily Brief United States: Hollysys Automation Technologies, Lumen Technologies, Pegasystems Inc, Las Vegas Sands, Regeneron Pharmaceuticals, Sherwin Williams Co, SolarEdge Technologies , Winmark Corp, Laboratory Corporation of America Holdings, Homestreet Inc and more

By | Daily Briefs, United States

In today’s briefing:

  • Hollysys (HOLI US): This Is A Buy
  • Lumen Technologies: Its Digital Platform Is Harnessing Multibillion-Dollar Opportunity! – Major Drivers
  • Pegasystems Inc: Generative AI
  • Las Vegas Sands Corp.: Intense Competition in the Premium Mass Segment & 3 Other Major Challenges In Its Path! – Key Drivers
  • Regeneron Pharmaceuticals: Bolstering Cell Therapy Research with 2seventy Bio Acquisition! – Major Drivers
  • The Sherwin-Williams Company: Can Its Dominant Market Position Last? – Major Drivers
  • SolarEdge Technologies Inc.: Expansion of Commercial Segment & Geographical Shift Changing The Game? – Major Drivers
  • Winmark: Resale at Scale – [Business Breakdowns, EP.159]
  • Laboratory Corporation of America (LabCorp): Significant Growth Momentum In The Diagnostics & Women’s Health Can Revolutionize Growth? – Major Drivers
  • Homestreet Inc (HMST) – Wednesday, Jan 17, 2024

Hollysys (HOLI US): This Is A Buy

By David Blennerhassett

  • On the 8th February 2024, 85% of Hollysys Automation (HOLI US) shareholders present and via proxy, voted for Ascendent Capital’s Offer. After three-plus years, the end was finally in sight.
  • Then crickets. The merger was to complete in the 1Q. On the 15th April, HOLI released an accountant resignation notice. No word on dissenters or regulatory approvals. Shares sold off. 
  • The accountant resignation is a nothing burger. HOLI should lift their game and provide more transparency on the outstanding merger conditions. Still, the spread is attractive. This is a buy. 

Lumen Technologies: Its Digital Platform Is Harnessing Multibillion-Dollar Opportunity! – Major Drivers

By Baptista Research

  • Lumen Technologies’ Fourth Quarter 2023 Earnings revealed significant progress in the company’s business transformation.
  • Led by the efforts of the new executive team under CEO Kathleen Johnson, Lumen indicated that it had met its 2023 EBITDA and free cash flow guidance and had made material progress in its strategic priorities.
  • To strengthen its balance sheet, Lumen entered into an agreement with a majority of its creditors that extends most debt maturities to 2029.

Pegasystems Inc: Generative AI

By Baptista Research

  • Pegasystems Inc. has noted robust cash flow growth and value delivered to its clients in Q4 of 2023.
  • The company has adopted a new go-to-market strategy that has been received well by the team, leading to strong customer relationships.
  • The company has focused on AI utilization to introduce industry-changing technologies, which has resulted in increased growth and cash flow.

Las Vegas Sands Corp.: Intense Competition in the Premium Mass Segment & 3 Other Major Challenges In Its Path! – Key Drivers

By Baptista Research

  • Las Vegas Sands Corp.
  • reported that Macao delivered $654 million of EBITDA for the quarter, a significant enhancement since the coronavirus pandemic’s end.
  • According to them, robust growth in both gaming and non-gaming revenues is anticipated, propelled by their substantial share in non rolling table win, rolling table win, and slot ETG win.

Regeneron Pharmaceuticals: Bolstering Cell Therapy Research with 2seventy Bio Acquisition! – Major Drivers

By Baptista Research

  • Regeneron Pharmaceuticals Inc.’s latest earnings highlighted several critical developments and financial performance data that shape its investment appeal.
  • Among the company’s accomplishments in 2023 were the FDA approval and successful launch of its EYLEA HD, a promising treatment for patients with wet age-related macular degeneration and diabetic eye diseases, which had strong start despite initial delays.
  • Additionally, the company won a notable legal battle to preserve its intellectual property related to EYLEA, which deterred infringements from a biosimilar manufacturer, potentially deterring future biosimilar launches.

The Sherwin-Williams Company: Can Its Dominant Market Position Last? – Major Drivers

By Baptista Research

  • Sherwin-Williams Company, a global leader in the paint and coatings industry, reported a promising review of their fourth quarter 2023 results and outlook for the first quarter and full year of 2024.
  • The company has experienced positive growth, with sales growing 4.1% to $23.1 billion and adjusted earnings per share growing 18.6% to $10.35 a share.
  • Sherwin-Williams demonstrated robust financial performance during the fourth quarter that has resulted in a record year for the company.

SolarEdge Technologies Inc.: Expansion of Commercial Segment & Geographical Shift Changing The Game? – Major Drivers

By Baptista Research

  • SolarEdge deemed its Q4 2023 and full-year results as clouded by adverse market dynamics and high inventory levels.
  • For Q4, SolarEdge reported revenues of about $316 million, split between $282 million in their solar business and $33 million in non-solar activities.
  • The company shipped 2.2 million power optimizers and 74,000 inverters during the quarter, along with 133-megawatt hours of batteries.

Winmark: Resale at Scale – [Business Breakdowns, EP.159]

By Business Breakdowns

  • Winmark operates five resale brands through a franchising model, including Plato’s Closet and Play It Again Sports
  • The company’s focus is on providing access to quality used products at value pricing, contributing to the circular economy
  • CEO Brett Heface discusses the dynamics of managing the brands, growth strategies, and the company’s mission to provide resale for everyone

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Laboratory Corporation of America (LabCorp): Significant Growth Momentum In The Diagnostics & Women’s Health Can Revolutionize Growth? – Major Drivers

By Baptista Research

  • Laboratory Corporation of America Holdings’ Q4 2023 highlighted a robust performance, driven by strong base business revenue growth.
  • Discussing Q4 results, revenues reached $3 billion, adjusted earnings per share was $3.30, and free cash flow from operations, excluding spin-related items, was $422 million.
  • Enterprise revenue grew by 4% compared to Q4 2022, led by an 8% growth in the Diagnostics business and 7% growth in the Biopharma business.

Homestreet Inc (HMST) – Wednesday, Jan 17, 2024

By Value Investors Club

  • HomeStreet Inc. focuses on MultiFamily lending in western states and recently surged in stock value due to a merger agreement with FirstSun Capital Bancorp
  • Shareholders of HomeStreet will receive shares of FSUN under the deal, expected to close in the middle of 2024
  • The author recommends building a position in FSUN, believing it is undervalued and has potential growth over the next 3 years

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

💡 Before it’s here, it’s on Smartkarma

Sign Up for Free

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network

  • ✓ Unlimited Research Summaries
  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
Sign Up for Free