We analyzed the changes in short interest of KRX stocks as of Feb 14th which has an aggregated short interest worth USD3.7bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases & decreases in short value, short as multiple of ADT.
We highlight short interest changes in SK Hynix, Hanwha Ocean.
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
China’s data center companies like GDS Holdings (9698 HK) , 21Vianet Group (VNET US) , and SUNeVision Holdings (1686 HK) are benefiting from the increased data needs of AI industry.
GLD remains in an uptrend but faces resistance at $250-$252, with support at $242-$245; momentum indicators suggest a cooling-off phase.
Investor sentiment remains bullish despite $801.89M in outflows, with 6.3% of top portfolios adding GLD and strong YTD performance.
CME Gold options market remains bullish, with a 0.63 put-call ratio and strong call open interest at 3000, 3100, and 3250 strike levels, signaling upside expectations.
Each week, I’ll share five intriguing investment ideas that recently caught my attention. These ideas are meant to spark your research and help you kickstart the week ahead with fresh insights.
Because these ideas are the result of my first-level idea generation process, they require more in depth research. Therefore, the ideas will often be concise, with occasional references to valuable work from other practitioners that I encourage you to explore.
If you have something fascinating to share that could benefit me and the wider community, don’t hesitate to send it my way—I’d love to hear from you!
Discussion on the balance between custom ASICs and GPUs in the tech industry
Concerns about over-excitement towards custom ASICs and potential loss of market share for GPUs
Considerations of architectural compatibility, innovation adoption, and economic viability for custom ASICs compared to GPUs.
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.
Reliance Industries (RIL IN) faces a major setback as Delhi High Court rules in favour of GOI in a gas dispute, accusing RIL of fraud and unjust enrichment worth $1.7 billion.
SEBI rejects Danny Gaekwad’s bid for a competing offer in Religare Enterprises (RELG IN) , citing lack of financial proof and inadequate due diligence.
Amazon.com Inc (AMZN US) launches its 10-minute delivery service, Amazon Now, in Bengaluru, focusing on groceries and essentials.
Timing the market is considered to be a Myth of the market. The probability of achieving the timing, even with an optimistic 50% success rate per decision, is < 0.0001%.
The returns are impacted significantly when best performing days of the market are missed. Interestingly, many of the best-performing market days occur during or immediately following a market crash
The hedged portfolio has significantly smaller drawdowns compared to the unhedged portfolio, demonstrating how hedging can reduce portfolio losses during market downturns.
Most Western media viewed Xi’s weekend handshake with Ma in the meeting with business leaders over the weekend as historical reconciliation. We believe it dangerously missed the mark;
Watch Jiang Fan…His next move to revitalize Taobao/Tmall could mean headwinds to Pinduoduo and JD.com. Taobao/Tmall performed well during CNY;
Alibaba’s Apple grab shows its unique ecosystem position in the US-China macrocosm. JD’s entry to O2O showed it needed a new growth driver post 2025.
The CPI jumped 0.5% in January, the largest increase since August 2023, exceeding expectations and signaling a broad-based rise in the cost of goods and services.
The hotter-than-expected inflation has led to a reassessment of monetary policy, diminishing hopes for rate cuts and leading the market to expect higher rates for years to come.
The significant surge in inflation impacts consumers through higher costs and impacts the Fed’s ability to reach its 2% inflation target.
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
JX Advanced Metals (5016 JP) is a global leader in the semiconductor and ICT materials sector. It is seeking to raise up to US$2.6 billion.
JXAM is a wholly owned subsidiary of ENEOS Holdings (5020 JP). After the listing, it is expected to become an equity-method affiliate of ENEOS.
The bull case rests on its leading market position, focus businesses’ improving performance, improving profitability, shift to cash generation, and low leverage.
Xtapli is looking to raise around US$242m via a primary placement, after having raised US$145m in Jan 2025.
QuantumPharm is a R&D platform, utilizing quantum physics-based first-principles calculation, advanced AI, high-performance cloud computing, and scalable and standardized robotic automation to provide drug and material science R&D solutions.
In this note, we will talk about the placement and run the deal through our ECM framework.
Hexaware Technologies raised around US$1bn in its India IPO, while its anchor book was strong, overall coverage was not.
Hexaware is a global digital and technology services company with AI at its core, delivering innovative solutions that help customers in their digital transformation journey and subsequent operations.
We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.
JX Advance Metal’s (JXAM) parent, ENEOS Holdings (5020 JP), is looking to raise around US$2.6bn via selling more than half of its stake in JXAM in its Japan IPO.
JXAM engages in business activities primarily focused on the development, manufacture and sale of materials made from copper and rare metals, which are used in the semiconductor and ICT fields.
In this note, we talk about the not-so-positive aspects of the deal.
Mixue Group is getting ready to complete its IPO in Hong Kong in the coming weeks. Mixue Group plans to raise about US$500 million from its Hong Kong IPO.
The company has an excellent income statement with notable growth in sales and profits in the past four years.
Net margin improved from 15.7% in 2023 and 18.7% in 1Q-3Q 2024, driven by higher sales base and lower major operating costs as a percentage of sales
Mixue Group, the largest freshly-made drinks company in China, is reportedly set to begin book building for its Hong Kong IPO by end-February, targeting to raise approximately USD 500 million.
Mixue Group (MIX HK)‘s mass-market pricing strategy and compelling value for money positioning targets price-sensitive consumers, especially in lower-tier cities and among youth, driving high-volume sales.
Mixue Group (MIX HK) reported robust revenue and profit growth for first nine months of 2024 led by new store openings and margin expansion despite sector slowdown and intensifying competition.
All the three candidates lonapegsomatropin, TransCon CNP, palopegteriparatide in the pipeline of VISEN are based on Exclusive License Agreements with Ascendis Pharma. So, there’re concerns about VISEN’s independent R&D capabilities.
VBP would destroy the price system of growth hormone market in China, and market size would shrink due to price reduction and decreasing demand as fewer babies will be born.
Post investment valuation reached US$1.03 billion. Since leading domestic companies have dominated the market, it’s not easy for VISEN to break through. Valuation of VISEN could be lower than peers.
Innovatiview India ltd (IIL) is a technology-driven provider of automated ancillary security and surveillance solutions for examinations, elections, and large-scale events across India.
IIL was the largest player in examination integrated security solutions in India, with a market share of 73.7% in terms of revenue for FY24, according to F&S Report.
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
Goodman Group went into a trading halt and then announced results and an underwritten equity placement of A$4bn (US$2.54bn) to pursue growth opportunities across logistics and data center operations.
The stock has dropped since CIC’s stake sale in December but still continues to handily outperform peers.
There will be some passive buying in the stock at the time of share settlement and more a few days later to mop up around 37% of the offering.
PEC Ltd. (PEC SP), a plant and terminal engineering specialist, has (finally) announced an Offer from Allied Energy Services, an engineering entity under the Liberty Group.
Liberty is offering S$0.84/share (not final) – including a AS$0.20/share special dividend – a 12.8% premium to undisturbed; but really more like a >35% premium.
Irrevocables from the board of 63.38% have been secured. Looks pretty clean. Assuming late May payment, pay up to S$0.79/share for a 6%/15% gross/annualised spread.
On February 14, 2025, JEH announced the cancellation of its planned share offering and withdrew its Prime Market listing application due to a potential insider trading violation involving an executive.
While the news may trigger a sharp correction in the stock, JEH’s core business remains strong, driven by pricing power, expansion opportunities, and growing inbound demand.
If governance concerns are effectively addressed, the stock could offer a compelling buy-and-hold opportunity once market sentiment stabilizes.
Taiwan Semiconductor (TSMC) (2330 TT) started to rally after an article on the WSJ said that the Taiwanese company is considering buying Intel’s semiconductor manufacturing plants.
As always, buy the rumor, sell the news is a possibile strategy here: our models say the stock is getting quickly overbought (WEEKLY period).
In this insight we will provide some short-term, tactical guidance to identify profit targets, where can you expect to see the stock reaching in the next few days/weeks.
Danish Compromise Uncertainty: If Banco BPM fails to secure Danish Compromise approval, its CET1 ratio could decline by 268bps, making it a riskier acquisition for UniCredit, potentially jeopardizing the deal.
UniCredit’s Strategic Dilemma: UniCredit may renegotiate the exchange ratio, withdraw the bid, or pursue Commerzbank instead, as Banco BPM’s Anima acquisition increases capital consumption risks and complicates UniCredit’s strategic plans.
Market Skepticism: As of February 18, 2025, Banco BPM’s shares trade at €9.04, while UniCredit’s offer values them at €8.47, leading to a +6.7% gross spread.
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
The resumption of short selling in Korea will start again on 31 March. There has been a ban on short selling in Korea since November 2023.
We provide some short selling candidates in Korea. Their sharply increasing share prices in the past five years have resulted in much more burdensome valuations.
Despite their burdensome valuations and sharply higher share prices, the remains high risk of some of these stocks that could overshoot to the upside.
We expect BIDU to post C4Q24 top line,non-GAAP operating profit and GAAP net income (5.1%), (7.7%) and (8.7%) vs. consensus.We expect BIDU to issue C1Q25 top line guidance (1.2%) vs.consensus;
BIDU’s problem is not only manifested in the loss of the Apple contract,it is also the loss of first mover advantage in both Generative Artificial Intelligence and Autonomous Driving Services.
Losing traffic advantage, BIDU has become a self-containing app ecosystem but all pillars of this ecosystem is facing intensifying competition. SELL @US$78.
Tam Jai International (2217 HK)‘s privatisation price is lower than we expected, based on 1.37x 12-month forward P/B, against our expectation of 1.63x (the historical average).
The PER of 21.1x for CY25, a premiuim to sector average of 13.7x, however, looks attractive enough for investors that entered in the last 12 months.
The 52.6% discount to IPO price (HK$3.33) and huge net cash have made some early investors unhappy. There is already letter from a minority shareholder calling to vote against it.
Singapore’s Premier Marina Operator. SUTL Enterprise is a leading Singapore-based marina developer, operator, and consultant, specializing in integrated luxury marina projects under its proprietary ONE°15 brand.
The company operates its flagship ONE°15 Marina Sentosa Cove and extends its expertise to third-party marinas through long-term management contracts and consultancy services. With a strong brand position and established industry leadership, SUTL is expanding across Asia-Pacific, capitalizing on growing demand for luxury yachting and premium marina infrastructure.
Diverse and Resilient Revenue Streams. SUTL generates revenue through recurring membership fees, marina management contracts, and sales of goods and services.
Kiri Industries (KIRI IN) ’s Q3/9M FY25 results show revenue growth, operational enhancements, and a legal victory in the DyStar case, alongside a strategic shift in joint venture accounting.
The legal win and growth in high-margin segments signal improved profitability and future revenue potential, bolstered by a robust copper project on track for 2028.
The new copper unit: Company investing close to 8000Cr in the new copper business, In first phase co will invest near to 1100Crs.
New Toyo International, established in 1975, is a leading producer of specialty packaging materials in the Asia Pacific Region. Its operations span across Singapore, Malaysia, Vietnam, Dubai, Indonesia and China.
The Group has two core business divisions. Its Specialty Papers division focuses on the production of laminated foil paper, and coated paper and metalized paper, while the Printed Carton and Labels division offers mainly gravure and lithography or offset printing of packaging materials for cigarettes and fast-moving products. In addition, the Group has a trading business that focuses on tobacco packaging-related materials, as well as a corrugated cartons production operation.
For specialty paper, which is one-third of its revenues, but more than two-thirds of its profitability the company has maintained margins through active cost management and inventory control despite the recent decline in the revenues due to destocking.
Cytokinetics Inc. reported its third quarter 2024 results, highlighting significant developments across its pipeline and commercial readiness efforts.
A notable achievement was the completion of the rolling submission and the new drug application to the FDA for aficamten, a cardiac myosin inhibitor targeting obstructive hypertrophic cardiomyopathy (HCM).
This represents a key milestone in Cytokinetics’ efforts to bring potentially transformative therapies to market.
Papa John’s International recently announced their third-quarter 2024 financial results, delineating a mixedperformance.
The company’s primary focus is set on improving execution, profitability, and sustainable shareholder value.
Todd Penegor, the recently appointed President and CEO, along with a restructuring inthe leadership team, emphasizes a strategic drive toward refining product propositions, marketing strategies, and technology infrastructure.
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
In the next installment of our Webinar series, in collaboration with ASEAN Exchanges, we go live with Smartkarma Insight Provider Thomas Lam.
Australia and ASEAN have built a strong, enduring partnership over the past 50 years, culminating in the Australia-ASEAN Comprehensive Strategic Partnership (CSP) in 2021.
The CSP has accelerated inter-regional cooperation across key areas such as the energy transition, digital economy, health, and human rights, reflecting a shared commitment to regional stability and growth.
In October 2024, the 4th ASEAN-Australia Summit in Vientiane, Laos emphasized the importance of connectivity, infrastructure development, and economic integration to support ASEAN’s community-building efforts.
Join us as Thomas Lam shares his expert analysis on the Summit, and what the Australia-ASEAN collaboration means for the future of the ASEAN region.
The webinar will be hosted on Wednesday, 26 February 2025, 16:30 SGT/HKT.
Thomas Lam has over two decades of experience in the realm of economics and finance, with expertise ranging from covering the global economy, deciphering financial markets, including macro forecasting, to advising on investment strategy. He commenced his career in New York, initially at a large money-center bank and then at a hedge fund. Thereafter, while in Singapore, he worked at two financial institutions and later joined academia. Tom has been consistently ranked among the top five most accurate economists in the world on forecasting the US economy overall (placed third, last published by the “Bloomberg Rankings of Top Forecasters”). During the Global Financial Crisis, he was also acknowledged as the second-best US forecaster worldwide.
For the week ending 14/Feb, U.S. natural gas prices gained 12.6% on the back of colder weather forecasts, rising LNG exports, and falling inventories.
Henry Hub Put/Call volume ratio dropped to 0.66 from 1.33 (07/Feb) the previous week as call volumes surged by 102.1% WoW, while put volumes inched down by 0.2%.
Henry Hub OI PCR rose to 0.98 from 0.97 (07/Feb) last week. Call OI rose by 5.2% WoW, while put OI increased by 6.5%.
Unemployment’s rising trend was a dovish crutch broken by stability in December, with the turn in underlying changes repeating the hawkish patterns after Jul-23 and Feb-24.
An intensification of wage growth to 0.7% m-o-m extended its hawkish trend to return the annual rate to around 6%, meaning no progress on where it started the year.
Payback in unemployment follows that in GDP, bringing the data to a more consistently hawkish position at the end of 2024. We still only expect a final BoE rate cut in May.
President Trump’s executive order on reciprocal tariffs has not produced much market reaction, as the proposals will not be delivered to the president until April 1
The process of Commerce/U.S. Treasury and Homeland Security input is seen reducing the odds of penal tariffs.
However, uncertainty still exists and the EU in particular is at real risk of threats and implementation in the spring.
Buy and hold investors should be looking to buy on dip, and we are structurally long Indian equities.
However the attraction of India as a hedge against Trump’s global trade war and China has diminished. Two reasons.
First, India’s disappointing economic performance. Second, Trading Post’s expectations that the trade war will be over sooner than consensus is expecting and that a US-China trade deal will be struck.
WTI futures fell by 0.4% for the week ending 14/Feb, marking its fourth straight weekly drop. Prices fell due to trade policy uncertainty and rising crude inventories.
WTI options Put/Call volume ratio fell to 0.94 from 1.18 (07/Feb) last week, as call volume rose by 23.6% WoW while put volume dropped by 1.6%.
WTI OI PCR fell to 0.96 from 0.98 last week. Call OI dropped by 16.9% WoW, while put OI decreased by 20.1%.
Total copper production, excluding Cobre Panamá, was 431,000 tonnes—14% higher than the previous year and exceeding guidance of 420,000 tonnes. Gold production also surpassed guidance at 139,000 ounces.
Management believes the ICC’s five-month arbitration delay for the Cobre Panama mine, now set for February 2026, is unlikely to affect the pace of negotiations.
The company trades at an EV-EBITDA of 9.4x, which is more expensive than some of its peers. However, Cobre Panama’s option value materializing makes it attractive (4.7x EV-EBITDA).
The RBA lowered the cash rate to 4.1% as inflation moderates faster than expected, with underlying inflation at 3.2% in the December quarter, supported by easing wage pressures and subdued private demand.
Labour market tightness persists despite overall economic weakness, with the unemployment rate at 4%, sustained employment growth, and high unit labour costs posing potential inflationary risks.
The outlook remains uncertain, with global risks including US trade tensions and geopolitical instability, while further rate cuts will depend on continued disinflation and stable labour market conditions.
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.
Cocoa Price Update Much of the price increase between summer and winter can be fundamentally explained with the decision by the cocoa board of the Ivory Coast (about 35-40% of global supply) not to allow farmers to plant new trees to discipline supply, as cocoa bean prices were too low from its perspective.
Also contributing were cyclical happenings such as complicated weather occurring, swollen shoot virus and speculation.
By now, the liquidity (measured by open interest in the futures market) in the cocoa market is quite low, making it almost impossible for smaller retail investors to participate in the market anymore.
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
Goodman Group went into a trading halt and then announced results and an underwritten equity placement of A$4bn (US$2.54bn) to pursue growth opportunities across logistics and data center operations.
The stock has dropped since CIC’s stake sale in December but still continues to handily outperform peers.
There will be some passive buying in the stock at the time of share settlement and more a few days later to mop up around 37% of the offering.
Nearing a few days left in the review period, there could be 39 adds/deletes across the S&P/ASX family of indices in March.
Passive trackers will need to trade a lot of stock in the forecast changes, with the impact being especially large for the changes to the S&P/ASX 200 and S&P/ASX 300.
Except for the S&P/ASX 200 (AS51 INDEX) that is heavily tracked, the performance of the forecast changes to the other indices has been very stable with adds outperforming deletes bigly.
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
The resumption of short selling in Korea will start again on 31 March. There has been a ban on short selling in Korea since November 2023.
We provide some short selling candidates in Korea. Their sharply increasing share prices in the past five years have resulted in much more burdensome valuations.
Despite their burdensome valuations and sharply higher share prices, the remains high risk of some of these stocks that could overshoot to the upside.
Classys (214150 KS) reported record-high revenue of KRW243B for 2024, 8% ahead of guidance. Operating profit grew 37% YoY to KRW 123B, and the operating profit margin improved to 50.4%.
Volnewmer remained the key growth driver. Volnewmer has exceeded 1,200 units in annual global sales mainly due to successful launches in major countries including Brazil, Thailand, and the U.S.
The company has guided for 2025 sales of KRW350B, up 44% YoY. 2025 operating profit margin is expected to improve from the operating profit margin of 48.1% reported in 4Q24.
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
PEC Ltd. (PEC SP), a plant and terminal engineering specialist, has (finally) announced an Offer from Allied Energy Services, an engineering entity under the Liberty Group.
Liberty is offering S$0.84/share (not final) – including a AS$0.20/share special dividend – a 12.8% premium to undisturbed; but really more like a >35% premium.
Irrevocables from the board of 63.38% have been secured. Looks pretty clean. Assuming late May payment, pay up to S$0.79/share for a 6%/15% gross/annualised spread.
Singapore’s Premier Marina Operator. SUTL Enterprise is a leading Singapore-based marina developer, operator, and consultant, specializing in integrated luxury marina projects under its proprietary ONE°15 brand.
The company operates its flagship ONE°15 Marina Sentosa Cove and extends its expertise to third-party marinas through long-term management contracts and consultancy services. With a strong brand position and established industry leadership, SUTL is expanding across Asia-Pacific, capitalizing on growing demand for luxury yachting and premium marina infrastructure.
Diverse and Resilient Revenue Streams. SUTL generates revenue through recurring membership fees, marina management contracts, and sales of goods and services.
New Toyo International, established in 1975, is a leading producer of specialty packaging materials in the Asia Pacific Region. Its operations span across Singapore, Malaysia, Vietnam, Dubai, Indonesia and China.
The Group has two core business divisions. Its Specialty Papers division focuses on the production of laminated foil paper, and coated paper and metalized paper, while the Printed Carton and Labels division offers mainly gravure and lithography or offset printing of packaging materials for cigarettes and fast-moving products. In addition, the Group has a trading business that focuses on tobacco packaging-related materials, as well as a corrugated cartons production operation.
For specialty paper, which is one-third of its revenues, but more than two-thirds of its profitability the company has maintained margins through active cost management and inventory control despite the recent decline in the revenues due to destocking.
Headquartered in Singapore, Stamford Tyres Corporation Ltd. is a leading player in the global tire industry, primarily involved in the wholesale distribution, retail, and service of tires, automotive parts, and accessories. It is well-known for its extensive network of customers and strong relationships with major tire manufacturers.
The company has formed strategic partnerships with top tire manufacturers including with Falken, Dunlop and Continental. These collaborations provide Stamford Tyres access to high-quality products and a competitive edge in the market.
Southeast Asia remains the core market for the company contributing nearly 88% of revenues. Of this, Singapore is the largest market (42% of revenues) followed by Indonesia (18%), Thailand (15%) and Malaysia (10%). Stamford Tyres also generates 10% of revenues from South Africa.
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
For the week ending 14/Feb, U.S. natural gas prices gained 12.6% on the back of colder weather forecasts, rising LNG exports, and falling inventories.
Henry Hub Put/Call volume ratio dropped to 0.66 from 1.33 (07/Feb) the previous week as call volumes surged by 102.1% WoW, while put volumes inched down by 0.2%.
Henry Hub OI PCR rose to 0.98 from 0.97 (07/Feb) last week. Call OI rose by 5.2% WoW, while put OI increased by 6.5%.
Cytokinetics Inc. reported its third quarter 2024 results, highlighting significant developments across its pipeline and commercial readiness efforts.
A notable achievement was the completion of the rolling submission and the new drug application to the FDA for aficamten, a cardiac myosin inhibitor targeting obstructive hypertrophic cardiomyopathy (HCM).
This represents a key milestone in Cytokinetics’ efforts to bring potentially transformative therapies to market.
Papa John’s International recently announced their third-quarter 2024 financial results, delineating a mixedperformance.
The company’s primary focus is set on improving execution, profitability, and sustainable shareholder value.
Todd Penegor, the recently appointed President and CEO, along with a restructuring inthe leadership team, emphasizes a strategic drive toward refining product propositions, marketing strategies, and technology infrastructure.
WTI futures fell by 0.4% for the week ending 14/Feb, marking its fourth straight weekly drop. Prices fell due to trade policy uncertainty and rising crude inventories.
WTI options Put/Call volume ratio fell to 0.94 from 1.18 (07/Feb) last week, as call volume rose by 23.6% WoW while put volume dropped by 1.6%.
WTI OI PCR fell to 0.96 from 0.98 last week. Call OI dropped by 16.9% WoW, while put OI decreased by 20.1%.
Anterix has showcased notable developments in its fiscal third quarter of 2025 that have implications for prospective and current investors.
The company has announced a $13.5 million expansion agreement with the Lower Colorado River Authority, which expanded Anterix’s 900-megahertz broadband spectrum coverage in Texas.
This expansion is a testament to Anterix’s growing scale and its penetration into utility communications solutions, covering a substantial geographic footprint across 15 states, surpassing U.S. Cellular in coverage.
Rani is a clinical-stage biotherapeutics company developing the ingestible robotic RaniPill (RP) that enables oral delivery of biologics & other large molecules.
Its pipeline features clinical assets RT-102 (teriparatide for osteoporosis) & RT-111 (ustekinumab for psoriasis).
Both programs have completed Ph1 trials characterizing safety tolerability & pharmaco-kinetics.
Encompass Health Corporation concluded its fourth quarter of 2024 with a robust financial performance, emphasizing strategic growth and improved patient care metrics.
The company reported a 12.7% increase in revenue for the quarter, reaching $1.4 billion, alongside a 13.6% rise in adjusted EBITDA to $289.6 million.
Key metrics contributing to this growth were the 7.8% increase in discharges and a 4.2% rise in net revenue per discharge.
Arcutis Biotherapeutics’ latest financial results show a mix of strategic execution and market opportunity, underpinned by the performance of its ZORYVE portfolio.
The company’s Q3 2024 results highlighted substantial sales growth, reflecting a year-over-year increase of 452% and a sequential quarterly rise of 45%, bringing net product revenue to $44.8 million.
This growth is underpinned by the expansion of ZORYVE’s indications, now covering psoriasis, seborrheic dermatitis, and atopic dermatitis.
Total copper production, excluding Cobre Panamá, was 431,000 tonnes—14% higher than the previous year and exceeding guidance of 420,000 tonnes. Gold production also surpassed guidance at 139,000 ounces.
Management believes the ICC’s five-month arbitration delay for the Cobre Panama mine, now set for February 2026, is unlikely to affect the pace of negotiations.
The company trades at an EV-EBITDA of 9.4x, which is more expensive than some of its peers. However, Cobre Panama’s option value materializing makes it attractive (4.7x EV-EBITDA).
The WK Kellogg Company recently reported its fourth-quarter and full-year 2024 financial results with notable highlights and areas for investor consideration.
On the positive side, the company successfully progressed its strategic priorities, notably modernizing its supply chain and developing its standalone operating infrastructure following its separation from Kellanova.
This has already led to improved supply chain performance, with increased operational efficiency and a boost to gross margins, which grew by 90 basis points to 29.8% for the year.
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
Before it’s here, it’s on Smartkarma
Unlock all research summaries