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Smartkarma Daily Briefs

Jun 08
0

Daily Brief Japan: Toyota Industries and more

By | Daily Briefs, Japan

In today’s briefing:

  • Last Week in Event SPACE: Toyota Indust. Great Eastern, Mayne Pharma, Shibaura Elect., New World

Last Week in Event SPACE: Toyota Indust. Great Eastern, Mayne Pharma, Shibaura Elect., New World

By David Blennerhassett

  • The value realisation of selling cross-holdings should not be contingent on selling your shares to someone else too cheaply but that is exactly what Toyota is proposing here.
  • OCBC is doing the right thing. Although a 17.8% bump in terms for Great Eastern Holdings (GE SP)‘s minorities is probably not enough to dislodge Palliser.
  • Cosette has lodged a termination notice, which Mayne Pharma (MYX AU) rejects. It’s anyone’s guess whether this saga concludes with a price cut; or Cosette walking.

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Jun 08
0

Daily Brief Australia: Healius , Washington H. Soul Pattinson and Co. Ltd and more

By | Australia, Daily Briefs

In today’s briefing:

  • Quiddity ASX Jun25 Results: All Expected ADDs/DELs Correct, One Extra ADD/DEL, LONGs up 5% Vs SHORTs
  • (Mostly) Asia-Pac M&A: Soul Patts/ Brickworks, Spartan Resources, PointsBet, ESR Group, Tam Jai

Quiddity ASX Jun25 Results: All Expected ADDs/DELs Correct, One Extra ADD/DEL, LONGs up 5% Vs SHORTs

By Janaghan Jeyakumar, CFA

  • The ADDs/DELs for the ASX index family for the June 2025 index rebal event were announced after market close on Friday 6th June 2025.
  • There are 12 index changes collectively for ASX 20, ASX 50, ASX 100, and ASX 200.
  • In this insight, we take a look at our final flow expectations for each of these confirmed index changes.

(Mostly) Asia-Pac M&A: Soul Patts/ Brickworks, Spartan Resources, PointsBet, ESR Group, Tam Jai

By David Blennerhassett

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Jun 08
0

Daily Brief Consumer: Able C&C, Toyota Industries, NIFTY Index, Procter & Gamble Co, Viking Holdings and more

By | Consumer, Daily Briefs

In today’s briefing:

  • A Visit to Daiso in Seoul – A Retail Giant Crushing the Competition
  • Last Week in Event SPACE: Toyota Indust. Great Eastern, Mayne Pharma, Shibaura Elect., New World
  • Nifty 50 Tactical Outlook After RBI’s Steep Rate Cut
  • Procter & Gamble (P&G)’s 7
  • Viking Holdings Is Quietly Becoming the Hottest Cruise Stock — Why Smart Money Thinks It’s About to Soar!

A Visit to Daiso in Seoul – A Retail Giant Crushing the Competition

By Douglas Kim

  • I recently visited Daiso near Seoul Station. Daiso is one of the few off-line stores that has been crushing the competition in Korea in the past several years.
  • Amid continued weak economy in Korea in the past several years, Daiso has thrived through its detailed execution of focus on low priced products with highest value to consumers.
  • Able C&C (078520 KS) is a prime example a company capitalizing on the strong demand for cosmetic products at Daiso. 

Last Week in Event SPACE: Toyota Indust. Great Eastern, Mayne Pharma, Shibaura Elect., New World

By David Blennerhassett

  • The value realisation of selling cross-holdings should not be contingent on selling your shares to someone else too cheaply but that is exactly what Toyota is proposing here.
  • OCBC is doing the right thing. Although a 17.8% bump in terms for Great Eastern Holdings (GE SP)‘s minorities is probably not enough to dislodge Palliser.
  • Cosette has lodged a termination notice, which Mayne Pharma (MYX AU) rejects. It’s anyone’s guess whether this saga concludes with a price cut; or Cosette walking.

Nifty 50 Tactical Outlook After RBI’s Steep Rate Cut

By Nico Rosti

  • The NIFTY Index rallied after RBI cuts key policy rate by 50 bps to 5.50%(but RBI governor said there is limited policy space from here).
  • Inflation forecast was cut to 3.7%; GDP growth forecast retained at 6.5, but Trump’s trade tariffs and the prospect of a global economic slowdown are generating uncertainty.
  • The NIFTY was already moving up in the last 2 days and accelerated sharply on Friday. But our model signals that the index is not overbought, it can go higher.

Procter & Gamble (P&G)’s 7

By Baptista Research

  • Procter & Gamble, the global powerhouse behind brands like Tide, Pampers, and Gillette, has announced one of its most significant organizational shake-ups in recent years.
  • The company plans to cut 7,000 nonmanufacturing jobs globally—roughly 15% of its non-factory workforce—over the next two years.
  • This move is part of a broader noncore restructuring program estimated to cost between $1 billion and $1.6 billion before tax, with about 25% of that in noncash charges.

Viking Holdings Is Quietly Becoming the Hottest Cruise Stock — Why Smart Money Thinks It’s About to Soar!

By Baptista Research

  • Viking recently reported its first-quarter results for 2025, showcasing a solid financial and operational performance.
  • The company experienced a 7.1% increase in net yields alongside a 14.9% capacity boost compared to the previous year.
  • Total revenue reached nearly $900 million, approximately three times higher than in 2019, reflecting strong demand for Viking’s offerings and the disciplined implementation of its growth strategy.

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Jun 08
0

Daily Brief TMT/Internet: Unimicron Technology, Intel Corp, Snowflake , Arista Networks, DiDi Global and more

By | Daily Briefs, TMT/Internet

In today’s briefing:

  • Taiwan Top 50 ETF Rebalance: Elite Materials Added (But Bigger Sell Flows Elsewhere)
  • Intel (INTC.US): Exploring a Tough Journey. (V)
  • Snowflake’s $250M “Crunchy” Bet: How Two Smart Acquisitions Are Fueling Its AI War With Databricks!
  • Arista Networks’ $1.5B AI Jackpot: How a “Has-Been” Became Wall Street’s Newest Favorite!
  • Didi Global Q125 Results | Company Should Move to List Shares While Earnings & Conditions Favorable

Taiwan Top 50 ETF Rebalance: Elite Materials Added (But Bigger Sell Flows Elsewhere)

By Brian Freitas

Intel (INTC.US): Exploring a Tough Journey. (V)

By Patrick Liao

  • Intel Corp (INTC US) CEO Lip-Bu Tan was setting two guideline that “build the best products” and “satisfy customers.”
  • Going forward, no new product development project will be approved—nor will engineering resources be allocated—unless it can demonstrate a projected gross margin of at least 50%.
  • In the coming months, an internal tug-of-war is expected to unfold within the company—between engineers and senior executives

Snowflake’s $250M “Crunchy” Bet: How Two Smart Acquisitions Are Fueling Its AI War With Databricks!

By Baptista Research

  • Snowflake has taken a bold strategic leap in its battle for AI supremacy by acquiring Crunchy Data, a leading PostgreSQL-based database company, for approximately $250 million.
  • Coming shortly after Databricks’ $1 billion acquisition of Neon, this move signals an intensifying war for enterprise customers who want to build AI agents using their own data.
  • Crunchy Data’s roughly 100 employees are set to join Snowflake as the company integrates Crunchy into a new product offering called Snowflake Postgres.

Arista Networks’ $1.5B AI Jackpot: How a “Has-Been” Became Wall Street’s Newest Favorite!

By Baptista Research

  • Once considered vulnerable to competitive pressures and margin erosion, Arista Networks (NYSE: ANET) has staged a remarkable comeback that has turned heads on Wall Street.
  • After seeing its stock plunge nearly 50% earlier this year due to fears around tariffs and intensified white-box competition, Arista has bounced back with vengeance.
  • Now trading near $95, the stock has rallied on the back of a robust Q1 2025 print, confident full-year guidance, and its growing role in powering AI infrastructure for tech giants like Microsoft, Meta, and Oracle.

Didi Global Q125 Results | Company Should Move to List Shares While Earnings & Conditions Favorable

By Daniel Hellberg

  • Didi reported solid top-line growth, improving core margins (and OpCF) in Q125
  • Drivers of Q125 top-line growth were broad-based, but note F/X impact on International
  • We believe Didi should move to re-list shares while earnings & conditions are supportive

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Jun 08
0

Daily Brief United States: Intel Corp, Snowflake , Arista Networks, Bristol Myers Squibb Co, Procter & Gamble Co, Viking Holdings and more

By | Daily Briefs, United States

In today’s briefing:

  • Intel (INTC.US): Exploring a Tough Journey. (V)
  • Snowflake’s $250M “Crunchy” Bet: How Two Smart Acquisitions Are Fueling Its AI War With Databricks!
  • Arista Networks’ $1.5B AI Jackpot: How a “Has-Been” Became Wall Street’s Newest Favorite!
  • Bristol Myers Just Dropped $11.1 Billion on BioNTech: Is This the Pivot That Transforms Its Oncology Pipeline?
  • Procter & Gamble (P&G)’s 7
  • Viking Holdings Is Quietly Becoming the Hottest Cruise Stock — Why Smart Money Thinks It’s About to Soar!

Intel (INTC.US): Exploring a Tough Journey. (V)

By Patrick Liao

  • Intel Corp (INTC US) CEO Lip-Bu Tan was setting two guideline that “build the best products” and “satisfy customers.”
  • Going forward, no new product development project will be approved—nor will engineering resources be allocated—unless it can demonstrate a projected gross margin of at least 50%.
  • In the coming months, an internal tug-of-war is expected to unfold within the company—between engineers and senior executives

Snowflake’s $250M “Crunchy” Bet: How Two Smart Acquisitions Are Fueling Its AI War With Databricks!

By Baptista Research

  • Snowflake has taken a bold strategic leap in its battle for AI supremacy by acquiring Crunchy Data, a leading PostgreSQL-based database company, for approximately $250 million.
  • Coming shortly after Databricks’ $1 billion acquisition of Neon, this move signals an intensifying war for enterprise customers who want to build AI agents using their own data.
  • Crunchy Data’s roughly 100 employees are set to join Snowflake as the company integrates Crunchy into a new product offering called Snowflake Postgres.

Arista Networks’ $1.5B AI Jackpot: How a “Has-Been” Became Wall Street’s Newest Favorite!

By Baptista Research

  • Once considered vulnerable to competitive pressures and margin erosion, Arista Networks (NYSE: ANET) has staged a remarkable comeback that has turned heads on Wall Street.
  • After seeing its stock plunge nearly 50% earlier this year due to fears around tariffs and intensified white-box competition, Arista has bounced back with vengeance.
  • Now trading near $95, the stock has rallied on the back of a robust Q1 2025 print, confident full-year guidance, and its growing role in powering AI infrastructure for tech giants like Microsoft, Meta, and Oracle.

Bristol Myers Just Dropped $11.1 Billion on BioNTech: Is This the Pivot That Transforms Its Oncology Pipeline?

By Baptista Research

  • Bristol Myers Squibb (BMS) has made headlines with its recent $11.1 billion collaboration deal with German biotech BioNTech, a strategic move that underscores the company’s aggressive pivot toward growth in oncology.
  • The centerpiece of this deal is BNT327, a PD-L1/VEGF-A bispecific antibody, which BMS sees as a next-generation immuno-oncology asset capable of reshaping the cancer treatment landscape.
  • With an upfront payment of $1.5 billion and $2 billion guaranteed through 2028, the agreement also includes a potential $7.6 billion in milestone payments.

Procter & Gamble (P&G)’s 7

By Baptista Research

  • Procter & Gamble, the global powerhouse behind brands like Tide, Pampers, and Gillette, has announced one of its most significant organizational shake-ups in recent years.
  • The company plans to cut 7,000 nonmanufacturing jobs globally—roughly 15% of its non-factory workforce—over the next two years.
  • This move is part of a broader noncore restructuring program estimated to cost between $1 billion and $1.6 billion before tax, with about 25% of that in noncash charges.

Viking Holdings Is Quietly Becoming the Hottest Cruise Stock — Why Smart Money Thinks It’s About to Soar!

By Baptista Research

  • Viking recently reported its first-quarter results for 2025, showcasing a solid financial and operational performance.
  • The company experienced a 7.1% increase in net yields alongside a 14.9% capacity boost compared to the previous year.
  • Total revenue reached nearly $900 million, approximately three times higher than in 2019, reflecting strong demand for Viking’s offerings and the disciplined implementation of its growth strategy.

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Jun 08
0

Daily Brief Energy/Materials: Washington H. Soul Pattinson and Co. Ltd and more

By | Daily Briefs, Energy & Materials Sector

In today’s briefing:

  • (Mostly) Asia-Pac M&A: Soul Patts/ Brickworks, Spartan Resources, PointsBet, ESR Group, Tam Jai

(Mostly) Asia-Pac M&A: Soul Patts/ Brickworks, Spartan Resources, PointsBet, ESR Group, Tam Jai

By David Blennerhassett

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Jun 08
0

Daily Brief China: Newtrend Technology, DiDi Global and more

By | China, Daily Briefs

In today’s briefing:

  • China Healthcare Weekly (Jun.8)-Summit/Akeso, Giant Biogene’s Trouble, Views on Newtrend IPO Pricing
  • Didi Global Q125 Results | Company Should Move to List Shares While Earnings & Conditions Favorable

China Healthcare Weekly (Jun.8)-Summit/Akeso, Giant Biogene’s Trouble, Views on Newtrend IPO Pricing

By Xinyao (Criss) Wang

  • Summit’s chances of being sold have decreased significantly. Since Summit does not have enough funds to promote multiple large-scale Phase III trials, the outlook of Summit/Akeso will become increasingly passive.
  • The public statements of Zhao Yan from Bloomage have raised doubts in the market about the prospects of collagen and Giant Biogene. Below, we shared some differentiated views on this.
  • The IPO pricing of Newtrend is HK$18.9-20.9/share. We think Newtrend is overvalued considering the “price war” and oversupply issue. Reasonable valuation should be lower than Anhui Jinhe Industrial (002597 CH).

Didi Global Q125 Results | Company Should Move to List Shares While Earnings & Conditions Favorable

By Daniel Hellberg

  • Didi reported solid top-line growth, improving core margins (and OpCF) in Q125
  • Drivers of Q125 top-line growth were broad-based, but note F/X impact on International
  • We believe Didi should move to re-list shares while earnings & conditions are supportive

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Jun 07
0

Daily Brief Australia: Helloworld Ltd, Iron Ore and more

By | Australia, Daily Briefs

In today’s briefing:

  • Webjet Group Faces Potential Takeover Amidst Interest from BGH Capital, Helloworld, and International Giants
  • [IO Fundamentals 2025/22] PMI Data Divergence and Declining IO Inventories
  • [IO Technicals 2025/23] Bearish Momentum Persists

Webjet Group Faces Potential Takeover Amidst Interest from BGH Capital, Helloworld, and International Giants

By Special Situation Investments

  • BGH Capital and Garry Weiss hold an 11% stake in WJL, acquired at A$0.80/share, and submitted a rejected offer at the same price.
  • Helloworld increased its stake in WJL to 15%, purchasing shares at A$0.85 and A$0.89/share, and proposed a merger.
  • WJL suspended its share buyback program amid takeover interest, and instructed advisors to explore alternative buyers.

[IO Fundamentals 2025/22] PMI Data Divergence and Declining IO Inventories

By Pranay Yadav

  • China’s NBS manufacturing PMI edged up to 49.5 in May, while Caixin PMI dropped sharply to 48.3 signaling the first contraction in 8 months. 
  • China’s industrial profits stagnated in April 2025, highlighting persistent challenges from weak demand, trade war tensions, and deflationary pressures.
  • Iron ore inventories continued to decline amid slowing shipments and softer blast furnace demand, signaling ongoing destocking.  

[IO Technicals 2025/23] Bearish Momentum Persists

By Pranay Yadav

  • Iron ore supply remains steady despite falling Australian exports and surging Brazilian shipments. However, weak Chinese property demand continues to cloud the market outlook.
  • Analysts at Singapore Ferrous Week trimmed 2025 iron ore surplus forecasts to 20–30 million tons, citing resilient demand, rising steel exports, and Australian supply disruptions.
  • Prices remain below key moving averages, signalling downside momentum, while the MACD staying under its signal line reinforces the ongoing bearish outlook.

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Jun 07
0

Daily Brief Singapore: Great Eastern Holdings, SGX Rubber Future TSR20 and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Great Eastern (GE SP): OCBC Bumps Terms – $30.15/Share Exit Offer
  • Higher Rubber Values Come In Handy For Vietnam, Though Volume Down

Great Eastern (GE SP): OCBC Bumps Terms – $30.15/Share Exit Offer

By David Blennerhassett

  • The prior Offer for Great Eastern Holdings (GE SP) closed on the 12th July 2024, with OCBC holding 93.62%. Shares have been suspended ever since. Compulsory acquisition was not afforded.
  • To break the deadlock, I mused in This Needs To Be Sorted: Great Eastern (GE SP)’s Protracted Suspension, that OCBC needed to come out with a improved Offer of ~S$30/share.
  • That has now unfolded. Minorities have the option of a S$30.15/share Exit Offer; or voting for the resumption of trading, which will be possible via the issuance of bonus shares.

Higher Rubber Values Come In Handy For Vietnam, Though Volume Down

By Vinod Nedumudy

  •  During January-April 2025, exports at 452,866 tons, down 11% YoY  
  • January-April 2025 exports value at US$872.78 mn, up 20.4% YoY  
  • Vietnam Rubber Group reports net profit of US$45.4 mn in Q1 2025  

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Jun 07
0

Daily Brief South Korea: Samsung Life Insurance and more

By | Daily Briefs, South Korea

In today’s briefing:

  • Top 30 Best Performing Stocks in KOSPI in Past Week and Surging Price of Samsung Life Insurance

Top 30 Best Performing Stocks in KOSPI in Past Week and Surging Price of Samsung Life Insurance

By Douglas Kim

  • In this insight, we also provide a list of 30 top performing stocks in KOSPI in the past one week (in terms of price performance and trading value).
  • We also discuss the surging share price of Samsung Life Insurance which suggests a near-term regulation change that could require the company to partially dispose its stake in Samsung Electronics. 
  • With Lee Jae-Myung becoming the new South Korean President, the probability of Samsung Life Insurance being forced to sell its stake in Samsung Electronics has risen much more.

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