Smartkarma Daily Briefs

In this insight, we discuss a pair trade involving a basket of Korean consumer stocks (long) and a basket of Japanese consumer stocks (short) over the next 3-6 months.
The 10 Korean names (long basket) include Samyang Food, APR, Amorepacific Corp, Korean Air, CJ Corp, Classys, Nongshim, Shinsegae, Hotel Shilla, and Lotte Tour Development.
The 10 Japanese names (short basket) include Fast Retailing, Oriental Land, Kao Corp, Seibu Holdings, ANA Holdings, Shiseido, J.Front Retailing, Kose Corp, Pola Orbis Holdings, and Kyoritsu Maintenance.

SoftBank (9984 JP) Tactical Outlook: Extremely Oversold After -11% Plunge

By Nico Rosti

Softbank Group (9984 JP) crashed nearly -11% between Thursday and Friday close, reaching deeply oversold extremes.
Softbank Group has declined for three consecutive weeks, posting a cumulative -37% correction over this period.
Softbank Group‘s entry into the Outliers zone suggests an extreme oversold condition—potentially creating a tactical long setup for risk-tolerant traders.

The Game Has Changed Since the Era of Cross-Shareholdings

By Aki Matsumoto

Share buybacks peak every year in June when AGMs are held, after which the “Quiet Period” begins. Toward the fiscal year-end, buybacks are expected as a means to resolve cross-shareholdings.
Given that the capital profitability of all TSE-listed companies hasn’t shown improvement, investors must continue to call for reducing excess cash reserves through dissolution of cross-shareholdings and the share buybacks.
Shareholders entrust management with the responsibility to maximize shareholder interest, which includes shareholder returns and corporate value growth. It’s natural for shareholders to demand that management fulfill this fiduciary duty.

Primer: VisasQ (4490 JP) – Nov 2025

By αSK

VisasQ is a dominant player in Japan’s expert network service (ENS) market, poised for global expansion following its strategic acquisition of US-based Coleman Research Group.
The company exhibits a strong revenue growth trajectory, driven by the increasing demand for specialized knowledge in corporate strategy and investment decisions. However, profitability has been volatile, highlighted by a significant goodwill impairment charge in FY2024 related to the Coleman acquisition.
Future growth hinges on successfully integrating Coleman, leveraging AI to enhance its service platform, and capitalizing on the expanding global ENS market, which is projected to grow at a CAGR of over 16%.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

NS Group (471A) IPO: The Investment Case

NS Group (471A JP) is a Japanese property rent guarantee company. It is seeking to raise up to US$255 million. Pricing is on 1 December and listing is on 16 December.
The controlling shareholder is Bain Capital, which owns 51.0% of voting rights. The offering is a pure secondary sale by Bain.
The investment case rests on its unique market positioning, accelerating growth, sector-leading profitability, cash generation, and low leverage.

SBI Shinsei Bank Pre-IPO – Peer Comparison

By Sumeet Singh

SBI Shinsei Bank (8303 JP), a Japanese financial institution, aims to raise around US$2bn in its Japan listing.
SBI Shinsei Bank (SBISB) is a Japanese financial institution providing a range of financial products and services to both individual and institutional customers.
We have looked at past performance in our earlier notes. In this note, we undertake a peer comparison

Muji: Closing in on ¥1 Trillion with Fresh Ideas

By Michael Causton

Ryohin Keikaku has once again exceeded expectations, posting record sales and profits that suggest its near-term ¥1 trillion target will easily be reached.
While worries over ubiquity remain, the trusting relationship between customer and brand has allowed rapid and successful category expansion which should deliver those targets.
This includes overseas markets where Muji is now gaining momentum again in China and, at last, making the most of its brand in Europe.

Onward’s Radical Transformation from Stolid to Trend Leader

By Michael Causton

Onward has quietly but radically transformed its business from wholesale to omnichannel retail.
Even more remarkably for a company whose average customer age was until very recently over 50, its latest brands now appeal to teens and 20s.
The new brands exemplify how much this previously staid wholesaler has changed.

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

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

Nov 25

Daily Brief Crypto: Cosmo Jiang – Unpacking Digital Asset Treasuries – [Making Markets and more

By Smartkarma Daily Briefs | Crypto, Daily Briefs

In today’s briefing:

Cosmo Jiang – Unpacking Digital Asset Treasuries – [Making Markets, EP.70]
Crypto Down, but 4Q Historically Good : Strong Performance for Cryptocurrencies in 4Q23 and 4Q24

Cosmo Jiang – Unpacking Digital Asset Treasuries – [Making Markets, EP.70]

By Web3 Breakdowns

Cosmo Giang, partner at Pantera Capital, discusses the investment thesis behind digital asset treasury companies (DATs) and their role in the crypto ecosystem, particularly highlighting Solana as their largest position.
Giang compares DATs to traditional financial companies, emphasizing how they can generate yield on assets like Bitcoin and Solana, similar to how banks generate returns on deposits.
Giang reveals how Solana’s smart contract platform offers more sustainable yield potential compared to Bitcoin, leading to Pantera’s bullish stance on the cryptocurrency.

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

Crypto Down, but 4Q Historically Good : Strong Performance for Cryptocurrencies in 4Q23 and 4Q24

By Water Tower Research

4Q for the last two years has seen strong performance for cryptocurrencies. BTC was up more than 45% in 4Q23 and more than 65% in 4Q24.
Given the strong institutional interest in crypto after the US passed the GENIUS Actand the amount of capital going into digital asset treasury (DAT) companies, we could see a similar strong performance in 4Q25.
There has been significant interest in DAT companies, particularly those focusing on coins other than Bitcoin and those adding return enhancers to their models, DAT++ companies.

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

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

Nov 25

Daily Brief Macro: UK Labour Party: Damned If They Do… and more

By Smartkarma Daily Briefs | Daily Briefs, Macro

In today’s briefing:

UK Labour Party: Damned If They Do…
Ep. 132 Real Conversations | Jim Rickards: Gold, Chaos and the Great Reckoning Ahead
Global Commodities: Metals headed for even greater heights
India’s Synthetic Rubber Sector Steadies Amid Import Decline
External Trade Focus: ASEAN–China Relations in a Rebalanced World
Fed Policy Outlook Heavily Influenced by QE Legacy Issues
Ray Dalio’s All-Weather Portfolio Works In Any Market – And This Tweak Makes It Even Better
AI And Investing In The New Technological Revolution
Delving Into the Macro
Briefing. Copart Market Share Loss, Nvidia Can’t Hold, Dior Expert Call, AppFolio Investor Meeting

UK Labour Party: Damned If They Do…

By Alastair Newton

Whatever Rachel Reeves comes up with in her 26 November budget, she is bound to run into criticism from within her own parliamentary party.
Bond markets seem set to react badly to this, especially if it seems likely that her overall objectives will be undermined by internal resistance to proposed measures.
She and the PM will probably survive this, but a market-unsettling change and slide to the left look increasingly likely by mid-2026, followed by defeat at the next election.

Ep. 132 Real Conversations | Jim Rickards: Gold, Chaos and the Great Reckoning Ahead

By Real Conversations

Gold prices have been steadily rising, with projections of reaching $10,000, possibly as soon as 2026.
The recent surge in gold prices has attracted more institutional investors and retail buyers, especially in countries like Australia and China.
The volatility in gold prices has also increased, with the potential for rapid gains as smaller percentage increases can lead to significant profits.

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

Global Commodities: Metals headed for even greater heights

By At Any Rate

Strong gold demand in 3Q25, totaling almost 980 tons, leading to a surge in demand inflow
Expectation of continued central bank buying and investor demand growth in 2026
Bullish outlook for gold prices, with potential risks including rate sensitivity and potential tariff uncertainties for other precious metals

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

India’s Synthetic Rubber Sector Steadies Amid Import Decline

By Vinod Nedumudy

Highlights

• Consumption outpaces domestic production growth

• Imports decline despite steady industrial demand

• Fresh probe into halobutyl rubber dumping

The first four months of the financial year illustrated an industry striving for balance — one still navigating between domestic self-sufficiency ambitions and dependence on imports for certain specialized grades. Demand from tire makers, which account for nearly two-thirds of synthetic rubber use in India, remained stable amid mixed trends in automotive production and exports.

External Trade Focus: ASEAN–China Relations in a Rebalanced World

By ASEAN Exchanges

ASEAN is scaling into a top-tier economic engine, targeting a US$4.2T GDP in 2025 and cementing its position as the world’s fifth-largest bloc.
Regional exports are set for a breakout phase—BCG projects ~90% growth by 2031 to US$3.2T annually, far outpacing sub-30% global trade expansion.
The uplift is anchored by supply-chain integration across autos, electronics, apparel, agri-food, and data/IT services, supported by policy tailwinds and US–China realignment.

Fed Policy Outlook Heavily Influenced by QE Legacy Issues

By Said Desaque

Prolonged quantitative easing by the Fed has made balance sheet shrinkage difficult without producing periods of cash shortages in the banking system, and has raised the neutral federal funds rate.
Regional Federal Reserve Bank Presidents have become more hawkish since September about inflation, arguing against a December policy easing, but September’s Employment Situation report did justify previous policy rate reductions.
Chairman Powell remains cautious about tariffs. Recent historical research by the Federal Reserve Bank of San Francisco suggests that higher unemployment and disinflation are the long-term outcomes of higher tariffs.

Ray Dalio’s All-Weather Portfolio Works In Any Market – And This Tweak Makes It Even Better

Ray Dalio actually made an art form of it: his All-Weather Portfolio spreads risk across economic scenarios like inflation, deflation, growth, and slowdowns.
You can improve on it by layering a simple trend filter on top. Do that, and the risk-adjusted returns get a serious boost: drawdowns shrink and the ride is smoother.
The traditional All-Weather Portfolio, 2x leveraged, delivered an 8.7% annual return with 13.8% volatility, and a Sharpe of 0.48. The trend-filtered version 8.2% return and a Sharpe 0.71.

AI And Investing In The New Technological Revolution

By BMO Equity Research Metal Matters

Technological revolutions follow a sequence: they start with a disruptive “installation phase”, then go through a critical “turning point”, and are finally followed by a “deployment phase”.
According to Carlota Perez, AI isn’t the start of a new technological revolution: it’s a critical milestone in the current, longstanding “information and telecommunication” revolution.
Being aware of different phases is valuable when investing. It can help you play the contrarian card – staying cautious during the frenzy and making bolder bets during the downturns.

Delving Into the Macro

Aluminium prices have been hitting three year highs and outperforming copper
China’s five year plan emphasizes consumption and trade links, but there are concerns about economic slowdown
Chief economist Doug Porter discusses Fed funds rate and potential rate cuts, leaning towards a dovish view for 2026

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

Briefing. Copart Market Share Loss, Nvidia Can’t Hold, Dior Expert Call, AppFolio Investor Meeting

By The Synopsis

Webinar with former Prada board member discussing luxury landscape and investor trends
Nvidia’s strong earnings initially sparked global rally, but tech stock sell-off signals market caution
Dior executive predicts return to growth in luxury market by 2026, emphasizes product innovation and pricing discipline for success

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

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

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

Nov 25

Daily Brief Utilities: ReNew Energy Global and more

By Smartkarma Daily Briefs | Daily Briefs, Utilities Sector

In today’s briefing:

Lucror Analytics – Morning Views Asia

Lucror Analytics – Morning Views Asia

By Trung Nguyen

In today’s Morning Views publication we comment on developments of the following high yield issuers: ReNew Energy, China Jinmao
UST yields fell on Friday, led by the front end, after New York Fed President John Williams said he saw room for another rate cut in the near term, amid a softening labour market.
The yield on the 2Y UST declined 6 bps to 3.53%, while that on the 10Y UST dropped 5 bps to 4.09%. Equities recovered on Friday, but remained down for the week. The S&P 500 and Nasdaq rose 1.0% and 0.9% to 6,603 and 22,273, respectively.

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

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

Nov 25

Daily Brief Industrials: Qube Holdings, Smec Co Ltd, GlobalData , Banyan Tree Holdings, Capacit’e Infraprojects, Exchange Income, Freightos , Samsung SDI, Copart Inc, bpost SA and more

By Smartkarma Daily Briefs | Daily Briefs, Industrials

In today’s briefing:

Qube Holdings (QUB AU): Macquarie’s NBIO at A$5.20
SNT Group – Formalizes a Hostile Takeover of SMEC
Primer: GlobalData (DATA LN) – Nov 2025
Tourism and Real Estate Stocks Dominate Filed Transactions Last Week
The Beat Ideas- Capacite Infraprojects: Optimizing the Growth Trajectory
Primer: Exchange Income (EIF CN) – Nov 2025
Primer: Freightos (CRGO US) – Nov 2025
Samsung SDI (006400): When Is the Buying Opportunity?
Wreck-It…Wealth: This Scrap-Heap Stock Could Be A Portfolio Hero (CPRT)
What’s News in Amsterdam – 24 November (AkzoNobel | ING | Fagron | bpostgroup)

Qube Holdings (QUB AU): Macquarie’s NBIO at A$5.20

Qube Holdings (QUB AU) has received a non-binding proposal from Macquarie Asset Management (MAM) at A$5.20 per share, a 27.8% premium to the undisturbed price.
The Board has granted exclusive due diligence until 1 February 2026 (or 15 February under certain circumstances). A scheme offer would be conditional on FIRB and ACCC approval.
While the offer represents an all-time high, the scarcity value of high-quality infrastructure assets could spur a competing bid from others, such as Brookfield, which holds pre-emptive rights at Patrick.

SNT Group – Formalizes a Hostile Takeover of SMEC

On 24 November, the SNT Group formalized its hostile takeover of Smec. S&T Holdings disclosed that it acquired an additional 5.46% stake in SMEC, raising its stake to 13.65%.
S&T Holdings and SNT Group Chairman Choi combined own a 20.2% stake in SMEC. In comparison, the SMEC CEO Choi Young-seop owns a 9.75% stake in SMEC.
In our view, this is likely to lead to a potential fight for the control of SMEC’s management rights, pushing up the share price of SMEC even further.

Primer: GlobalData (DATA LN) – Nov 2025

By αSK

GlobalData is a data analytics and consulting company with a strong, subscription-based recurring revenue model, which accounts for approximately 75-80% of its total revenue.
The company has demonstrated a solid long-term growth track record through both organic development and strategic acquisitions, though recent performance shows signs of slowing revenue growth and margin pressure.
Positioned in the growing business intelligence and analytics market, the company’s ‘One Platform’ model offers a scalable and integrated solution, but it faces significant competition from larger, established players.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Tourism and Real Estate Stocks Dominate Filed Transactions Last Week

By Geoff Howie

Institutions were net sellers of Singapore stocks from Nov 14 to Nov 20, with a net outflow of S$131 million.
United Overseas Bank led share buybacks, acquiring 997,700 shares at an average price of S$34.01, totaling S$58.2 million.
Wing Tai Holdings’ Cheng Wai Keung increased his interest to 62.24%, while Banyan Tree Holdings’ Goodview Properties raised its stake to 6.06%.

The Beat Ideas- Capacite Infraprojects: Optimizing the Growth Trajectory

By Sudarshan Bhandari

Capacite Infraprojects saw its highest-ever Q2 performance with 24% YoY income growth. It achieved nearly its full-year order inflow target of Rs. 3,500 crores in H1 FY26, signaling strong execution.
The Rs. 11,991 crores order book provides robust 4.5x revenue visibility, and a shift towards the upper end of the 16.5%-17.5% EBITDA margin guidance suggests improving operational efficiency and profitability.
CIL is set for sustained, high-double-digit growth with major H2 FY26 project ramp-ups and a Rs. 4,000 crores FY28 revenue target, necessitating a focus on execution and working capital strategies.

Primer: Exchange Income (EIF CN) – Nov 2025

By αSK

Exchange Income Corporation (EIC) operates a diversified business model focused on two key segments: Aerospace & Aviation and Manufacturing. This diversification provides resilience against economic cycles and market fluctuations.
The company has a proven track record of disciplined, accretive acquisitions, integrating niche market leaders to drive growth and steady cash flow. This strategy is a core tenet of its long-term value creation.
EIC is committed to providing shareholders with reliable and growing dividends, supported by the essential nature of the services and products offered by its portfolio of companies.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Freightos (CRGO US) – Nov 2025

By αSK

Freightos is a first-mover in the digitization of the global freight industry, operating a SaaS-enabled marketplace that connects carriers, forwarders, and shippers, driving transparency and efficiency in a traditionally opaque market.
The company is demonstrating strong top-line growth, evidenced by a 28.86% 3-year revenue CAGR and 23 consecutive quarters of record transaction volumes. However, it remains significantly unprofitable, with substantial cash burn as it invests in scaling its platform.
Future success hinges on achieving operating leverage and scaling its network to reach profitability. The company is targeting adjusted EBITDA breakeven by the fourth quarter of 2026, a key catalyst for the stock.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Samsung SDI (006400): When Is the Buying Opportunity?

By Henry Soediarko

Recent quarters operating numbers for Samsung SDI (006400 KS) is quite poor and have caused the share price to decrease accordingly.
The share price has rallied on the back of the news on Tesla’s new business to order ESS from Samsung SDI.
At what level shall investors start to accumulate Samsung SDI.

Wreck-It…Wealth: This Scrap-Heap Stock Could Be A Portfolio Hero (CPRT)

Copart’s business model is beautifully simple. When an insured vehicle is deemed a total loss after an accident, insurers need to dispose of it quickly.
Its online auction platform lets insurers, banks, and rental-car companies offload banged-up vehicles to a global buyer base across almost 200 countries.
Copart’s valuation story is refreshingly simple. This is a business with a ten-year record of double-digit growth, industry-leading margins, and cash conversion that’s practically perfect.

What’s News in Amsterdam – 24 November (AkzoNobel | ING | Fagron | bpostgroup)

By The IDEA!

In this edition: • AkzoNobel | a second Axalta shareholder opposes the proposed merger terms • ING | completes two risk sharing transactions • Fagron | strengthens position in EMEA and granted California license to FSS Boston • bpostgroup | unions call upon their members not to strike at bpost

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

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

Nov 25

Daily Brief Industrials: Qube Holdings, Smec Co Ltd, GlobalData , Banyan Tree Holdings, Capacit’e Infraprojects, Exchange Income, Freightos , Samsung SDI, Copart Inc, bpost SA and more

By Smartkarma Daily Briefs | Daily Briefs, Industrials

In today’s briefing:

Qube Holdings (QUB AU): Macquarie’s NBIO at A$5.20
SNT Group – Formalizes a Hostile Takeover of SMEC
Primer: GlobalData (DATA LN) – Nov 2025
Tourism and Real Estate Stocks Dominate Filed Transactions Last Week
The Beat Ideas- Capacite Infraprojects: Optimizing the Growth Trajectory
Primer: Exchange Income (EIF CN) – Nov 2025
Primer: Freightos (CRGO US) – Nov 2025
Samsung SDI (006400): When Is the Buying Opportunity?
Wreck-It…Wealth: This Scrap-Heap Stock Could Be A Portfolio Hero (CPRT)
What’s News in Amsterdam – 24 November (AkzoNobel | ING | Fagron | bpostgroup)

Qube Holdings (QUB AU): Macquarie’s NBIO at A$5.20

Qube Holdings (QUB AU) has received a non-binding proposal from Macquarie Asset Management (MAM) at A$5.20 per share, a 27.8% premium to the undisturbed price.
The Board has granted exclusive due diligence until 1 February 2026 (or 15 February under certain circumstances). A scheme offer would be conditional on FIRB and ACCC approval.
While the offer represents an all-time high, the scarcity value of high-quality infrastructure assets could spur a competing bid from others, such as Brookfield, which holds pre-emptive rights at Patrick.

SNT Group – Formalizes a Hostile Takeover of SMEC

On 24 November, the SNT Group formalized its hostile takeover of Smec. S&T Holdings disclosed that it acquired an additional 5.46% stake in SMEC, raising its stake to 13.65%.
S&T Holdings and SNT Group Chairman Choi combined own a 20.2% stake in SMEC. In comparison, the SMEC CEO Choi Young-seop owns a 9.75% stake in SMEC.
In our view, this is likely to lead to a potential fight for the control of SMEC’s management rights, pushing up the share price of SMEC even further.

Primer: GlobalData (DATA LN) – Nov 2025

By αSK

GlobalData is a data analytics and consulting company with a strong, subscription-based recurring revenue model, which accounts for approximately 75-80% of its total revenue.
The company has demonstrated a solid long-term growth track record through both organic development and strategic acquisitions, though recent performance shows signs of slowing revenue growth and margin pressure.
Positioned in the growing business intelligence and analytics market, the company’s ‘One Platform’ model offers a scalable and integrated solution, but it faces significant competition from larger, established players.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Tourism and Real Estate Stocks Dominate Filed Transactions Last Week

By Geoff Howie

Institutions were net sellers of Singapore stocks from Nov 14 to Nov 20, with a net outflow of S$131 million.
United Overseas Bank led share buybacks, acquiring 997,700 shares at an average price of S$34.01, totaling S$58.2 million.
Wing Tai Holdings’ Cheng Wai Keung increased his interest to 62.24%, while Banyan Tree Holdings’ Goodview Properties raised its stake to 6.06%.

The Beat Ideas- Capacite Infraprojects: Optimizing the Growth Trajectory

By Sudarshan Bhandari

Capacite Infraprojects saw its highest-ever Q2 performance with 24% YoY income growth. It achieved nearly its full-year order inflow target of Rs. 3,500 crores in H1 FY26, signaling strong execution.
The Rs. 11,991 crores order book provides robust 4.5x revenue visibility, and a shift towards the upper end of the 16.5%-17.5% EBITDA margin guidance suggests improving operational efficiency and profitability.
CIL is set for sustained, high-double-digit growth with major H2 FY26 project ramp-ups and a Rs. 4,000 crores FY28 revenue target, necessitating a focus on execution and working capital strategies.

Primer: Exchange Income (EIF CN) – Nov 2025

By αSK

Exchange Income Corporation (EIC) operates a diversified business model focused on two key segments: Aerospace & Aviation and Manufacturing. This diversification provides resilience against economic cycles and market fluctuations.
The company has a proven track record of disciplined, accretive acquisitions, integrating niche market leaders to drive growth and steady cash flow. This strategy is a core tenet of its long-term value creation.
EIC is committed to providing shareholders with reliable and growing dividends, supported by the essential nature of the services and products offered by its portfolio of companies.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Freightos (CRGO US) – Nov 2025

By αSK

Freightos is a first-mover in the digitization of the global freight industry, operating a SaaS-enabled marketplace that connects carriers, forwarders, and shippers, driving transparency and efficiency in a traditionally opaque market.
The company is demonstrating strong top-line growth, evidenced by a 28.86% 3-year revenue CAGR and 23 consecutive quarters of record transaction volumes. However, it remains significantly unprofitable, with substantial cash burn as it invests in scaling its platform.
Future success hinges on achieving operating leverage and scaling its network to reach profitability. The company is targeting adjusted EBITDA breakeven by the fourth quarter of 2026, a key catalyst for the stock.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Samsung SDI (006400): When Is the Buying Opportunity?

By Henry Soediarko

Recent quarters operating numbers for Samsung SDI (006400 KS) is quite poor and have caused the share price to decrease accordingly.
The share price has rallied on the back of the news on Tesla’s new business to order ESS from Samsung SDI.
At what level shall investors start to accumulate Samsung SDI.

Wreck-It…Wealth: This Scrap-Heap Stock Could Be A Portfolio Hero (CPRT)

By Quantum Commodity Intelligence

Copart’s business model is beautifully simple. When an insured vehicle is deemed a total loss after an accident, insurers need to dispose of it quickly.
Its online auction platform lets insurers, banks, and rental-car companies offload banged-up vehicles to a global buyer base across almost 200 countries.
Copart’s valuation story is refreshingly simple. This is a business with a ten-year record of double-digit growth, industry-leading margins, and cash conversion that’s practically perfect.

What’s News in Amsterdam – 24 November (AkzoNobel | ING | Fagron | bpostgroup)

By The IDEA!

In this edition: • AkzoNobel | a second Axalta shareholder opposes the proposed merger terms • ING | completes two risk sharing transactions • Fagron | strengthens position in EMEA and granted California license to FSS Boston • bpostgroup | unions call upon their members not to strike at bpost

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

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

Nov 25

Daily Brief Energy/Materials: Tung Ho Steel Enterprise, Gold, Rubber Future SGX TSR20, Hornbeck Offshore Services, Crude Oil, Ball , Intl Flavors & Fragrances, Mosaic Co/The, Nabaltec AG and more

By Smartkarma Daily Briefs | Daily Briefs, Energy & Materials Sector

In today’s briefing:

Quiddity Leaderboard T50/100 Dec25: Final Ranks; Tung Ho Escapes TDIV Deletion!
Ep. 132 Real Conversations | Jim Rickards: Gold, Chaos and the Great Reckoning Ahead
Global Commodities: Metals headed for even greater heights
India’s Synthetic Rubber Sector Steadies Amid Import Decline
Hornbeck Offshore Services, Inc. (HOS): Peeking at the IPO Prospectus of Marine Services Company
Oil futures: Prices plunge as Ukraine to consider US-backed peace deal
Ball Corporation: Reinventing Its Growth Engine With Strategic Investments
IFF Partners With Kemira on DEB Technology — Could This Mega-Project Reinvent Its Health & Biosciences Future?
Mosaic Surges in Brazil: How Its Fertilizantes Unit Keeps Beating EBITDA Targets Despite Market Pressures!
Nabaltec — Full year guidance maintained

Quiddity Leaderboard T50/100 Dec25: Final Ranks; Tung Ho Escapes TDIV Deletion!

By Janaghan Jeyakumar, CFA

The T50 index represents the top 50 largest stocks by market capitalization in the Taiwan Stock Exchange (TWSE). The T100 index represents the next 100 largest names (51-150 ranks).
Today is the base date for the December 2025 index rebal event and the expected ADDs/DELs discussed in this insight are our final index change expectations.
We expect four changes for T50 and three additional changes for the T100 index for the December 2025 rebal.

Ep. 132 Real Conversations | Jim Rickards: Gold, Chaos and the Great Reckoning Ahead

By Real Conversations

Gold prices have been steadily rising, with projections of reaching $10,000, possibly as soon as 2026.
The recent surge in gold prices has attracted more institutional investors and retail buyers, especially in countries like Australia and China.
The volatility in gold prices has also increased, with the potential for rapid gains as smaller percentage increases can lead to significant profits.

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

Global Commodities: Metals headed for even greater heights

By At Any Rate

Strong gold demand in 3Q25, totaling almost 980 tons, leading to a surge in demand inflow
Expectation of continued central bank buying and investor demand growth in 2026
Bullish outlook for gold prices, with potential risks including rate sensitivity and potential tariff uncertainties for other precious metals

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

India’s Synthetic Rubber Sector Steadies Amid Import Decline

By Vinod Nedumudy

Highlights

• Consumption outpaces domestic production growth

• Imports decline despite steady industrial demand

• Fresh probe into halobutyl rubber dumping

Hornbeck Offshore Services, Inc. (HOS): Peeking at the IPO Prospectus of Marine Services Company

By IPO Boutique

Hornbeck operates one of the world’s largest high-spec offshore fleets, serving diversified markets including oilfield services, military support, and emerging offshore wind.
Strong revenue growth and consistent profitability reflect resilient demand across deepwater energy, specialty services, and expanding non-oilfield markets.
IPO prospects hinge on market timing and valuation, as energy-related offerings have produced mixed results in 2025.

Oil futures: Prices plunge as Ukraine to consider US-backed peace deal

Crude oil futures tumbled on Friday as ceasefire speculation around the Russia/Ukraine war gained momentum after President Zelensky agreed to work with Washington on the US-drafted proposals.
Front-month Jan26 ICE Brent futures were trading at $62.50/b (1933 GMT) versus Thursday’s settle of $63.38/b, while Jan26 NYMEX WTI was at $57.99/b against a previous close of $59/b.
President Zelensky said he is ready for “honest work” with the US after receiving a draft of the plan to end the war with Russia, although European officials have cautioned that the proposals are too one-sided in favour of Moscow.

Ball Corporation: Reinventing Its Growth Engine With Strategic Investments

Ball Corporation’s third quarter 2025 performance indicates both strengths and challenges for the company, as per their recent earnings call.
During this period, Ball Corporation reported a 4.2% growth in beverage can volumes and a 5.1% increase in comparable operating earnings.
Comparable diluted earnings per share saw a 12.1% rise, while the company returned $1.35 billion to shareholders through share repurchases and dividends.

IFF Partners With Kemira on DEB Technology — Could This Mega-Project Reinvent Its Health & Biosciences Future?

International Flavors & Fragrances Inc. (IFF) presented its third-quarter results for 2025, showcasing a steady operational performance amidst challenging market conditions.
The company maintained flat sales compared to the previous year, despite headwinds such as geopolitical challenges, macroeconomic uncertainty, and soft demand in certain sectors.
Growth was observed in the Scent and Taste segments, counterbalancing weakness in Food Ingredients and Health & Biosciences, particularly in North America.

Mosaic Surges in Brazil: How Its Fertilizantes Unit Keeps Beating EBITDA Targets Despite Market Pressures!

The Mosaic Company’s third-quarter 2025 results showcase a complex financial landscape characterized by significant investments, strong regional performances, and strategic asset reallocations.
The company reported a substantial increase in net income to $411 million compared to $122 million in the prior year, with adjusted EBITDA rising to $806 million from $448 million.
This improvement was primarily driven by higher prices across all segments and particularly robust performance in Mosaic Fertilizantes.

Nabaltec — Full year guidance maintained

By Edison Investment Research

Nabaltec’s numbers for the first nine months of 2025 (9M25) confirm resilient earnings in a weak demand environment. Group revenue declined 1.9% y-o-y to €155.1m, while EBIT fell 16.8% to €14.0m, with a nine-month EBIT margin of 9%. Guidance for 2025 is unchanged at up to a 2% revenue contraction and an EBIT margin of 7–9%. Although Q4 can be seasonally weak, given the nine-month results (with a Q3 EBIT margin of 10.3%) the full year guidance looks achievable in our view, and we see no reason to revisit our estimates or valuation. Nabaltec is controlling its costs as far as possible in a difficult demand environment, but it retains a conservative balance sheet and a number of growth options.

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

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

Nov 25

Daily Brief Financials: iEdge Singapore Next 50 Index, Banyan Tree Holdings, Paymentus Holdings , Bitcoin, Aedas Homes SA, NS Group, Bitcoin Pro, SBI Shinsei Bank and more

By Smartkarma Daily Briefs | Daily Briefs, Financials

In today’s briefing:

Comparing the Singapore Next 50 to Its Regional Peers: An Asia Portfolio Context
Tourism and Real Estate Stocks Dominate Filed Transactions Last Week
Primer: Paymentus Holdings ( PAY US) – Nov 2025
Cosmo Jiang – Unpacking Digital Asset Treasuries – [Making Markets, EP.70]
Neinor / Aedas Homes – Second OPA at €24 for Minorities Reshapes the Arb
NS Group (471A) IPO: The Investment Case
Crypto Down, but 4Q Historically Good : Strong Performance for Cryptocurrencies in 4Q23 and 4Q24
SBI Shinsei Bank Pre-IPO – Peer Comparison

Comparing the Singapore Next 50 to Its Regional Peers: An Asia Portfolio Context

By Jay Cameron

This insight compares the iEdge Singapore Next 50 Index with regional mid-cap indices, focusing on methodology, sector composition, and historical performance.
Combining flagship and next-tier indices can broaden sector exposure and balance within an Asia-focused equity portfolio.
A volatility-driven allocation strategy is presented, showing that dynamic mid-cap exposure can help moderate drawdowns and enhance returns during market cycles.

Tourism and Real Estate Stocks Dominate Filed Transactions Last Week

By Geoff Howie

Institutions were net sellers of Singapore stocks from Nov 14 to Nov 20, with a net outflow of S$131 million.
United Overseas Bank led share buybacks, acquiring 997,700 shares at an average price of S$34.01, totaling S$58.2 million.
Wing Tai Holdings’ Cheng Wai Keung increased his interest to 62.24%, while Banyan Tree Holdings’ Goodview Properties raised its stake to 6.06%.

Primer: Paymentus Holdings ( PAY US) – Nov 2025

By αSK

Paymentus is a high-growth, cloud-based bill payment technology provider, capitalizing on the secular shift from paper to electronic transactions. Its strong revenue growth is driven by onboarding new clients and increasing transaction volumes.
The company’s proprietary Instant Payment Network (IPN) and omni-channel platform create a network effect, enhancing its competitive moat. Strategic partnerships with major financial institutions and technology companies are expanding its market reach.
While the company exhibits strong top-line momentum and improving profitability, it faces risks from customer concentration, potential margin pressure from large enterprise clients, and intense competition in the fragmented electronic payments market.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Cosmo Jiang – Unpacking Digital Asset Treasuries – [Making Markets, EP.70]

By Web3 Breakdowns

Cosmo Giang, partner at Pantera Capital, discusses the investment thesis behind digital asset treasury companies (DATs) and their role in the crypto ecosystem, particularly highlighting Solana as their largest position.
Giang compares DATs to traditional financial companies, emphasizing how they can generate yield on assets like Bitcoin and Solana, similar to how banks generate returns on deposits.
Giang reveals how Solana’s smart contract platform offers more sustainable yield potential compared to Bitcoin, leading to Pantera’s bullish stance on the cryptocurrency.

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

Neinor / Aedas Homes – Second OPA at €24 for Minorities Reshapes the Arb

By Jesus Rodriguez Aguilar

Neinor will complete the voluntary OPA at €21.335 with Castlelake’s 79%, then launch a mandatory €24/share offer for minorities if acceptance falls below 50%, effectively setting a regulatory floor.
Aedas shares jumped to €23.65 as the market prices a near-certain €24 exit. The resulting 1.5% spread offers a mid–single-digit annualized return, driven mainly by timeline rather than deal risk.
Next steps include CNMV approval of the voluntary OPA, acceptance verification, and automatic escalation to the mandatory €24 offer. Execution risk remains minimal; timing drift is now the main variable.

NS Group (471A) IPO: The Investment Case

NS Group (471A JP) is a Japanese property rent guarantee company. It is seeking to raise up to US$255 million. Pricing is on 1 December and listing is on 16 December.
The controlling shareholder is Bain Capital, which owns 51.0% of voting rights. The offering is a pure secondary sale by Bain.
The investment case rests on its unique market positioning, accelerating growth, sector-leading profitability, cash generation, and low leverage.

Crypto Down, but 4Q Historically Good : Strong Performance for Cryptocurrencies in 4Q23 and 4Q24

By Water Tower Research

4Q for the last two years has seen strong performance for cryptocurrencies. BTC was up more than 45% in 4Q23 and more than 65% in 4Q24.
Given the strong institutional interest in crypto after the US passed the GENIUS Actand the amount of capital going into digital asset treasury (DAT) companies, we could see a similar strong performance in 4Q25.
There has been significant interest in DAT companies, particularly those focusing on coins other than Bitcoin and those adding return enhancers to their models, DAT++ companies.

SBI Shinsei Bank Pre-IPO – Peer Comparison

By Sumeet Singh

SBI Shinsei Bank (8303 JP), a Japanese financial institution, aims to raise around US$2bn in its Japan listing.
SBI Shinsei Bank (SBISB) is a Japanese financial institution providing a range of financial products and services to both individual and institutional customers.
We have looked at past performance in our earlier notes. In this note, we undertake a peer comparison

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

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

Nov 25

Daily Brief Health Care: Monash IVF, UltraGreen.AI, Becton Dickinson and Co, Narayana Hrudayalaya Ltd, Masimo Corp, Ainos , Oramed Pharmaceuticals , Reviva Pharmaceuticals Holdi, Madrigal Pharmaceuticals Inc, CSPC Pharmaceutical Group and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

Monash IVF (MVF AU) Rejects Soul Patts/Genesis’ Offer
UltraGreen.ai IPO: High Growth and High Margins, Market Leader
New BD Looks Cheap But I’m Not Ready to Buy (Yet)
Narayana Hrudayalaya: A Quarter of Record Performance and Strategic Expansion
Masimo Corporation Expands Beyond Pulse Oximetry
WTR Small-Cap Spotlight Recap: AI Nose’s Continuing Momentum in 2025 and What to Expect in 2026
ORMP: Advancing Clinical Activities
RVPH: Brilaroxazine Poster Presentations
Madrigal Pharma: Inside the MAESTRO-NASH Breakthrough- How Weight Loss Supercharges Antifibrotic Effects!
CSPC Pharma (1093 HK): 9M25 Remain Subdued on Finished Drugs; Key Pivotal Data Read Outs Awaited

Monash IVF (MVF AU) Rejects Soul Patts/Genesis’ Offer

By David Blennerhassett

Monash IVF (MVF AU), a fertility provider, has announced, and summarily rejected, a A$0.80/share non-binding indicative Offer from Washington H. Soul Pattinson and Co. Ltd (SOL AU) & Genesis Capital.
The indicative terms are a ~31% premium to last close. And ~7.7x FY25 EV/EBITDA. Chairman Richard Davis declared terms “opportunistic in timing and materially undervalues the company“.
Genesis/Soul Patts collectively hold 19.6% in MVF. MVF’s share price has cratered this year after a woman was mistakenly implanted with the wrong embryo. The CEO subsequently stepped down.

UltraGreen.ai IPO: High Growth and High Margins, Market Leader

By Hong Jie Seow

UltraGreen.AI (2594794D SP) is looking to raise US$400m in its upcoming Singapore IPO.
UltraGreen is a global leader in Fluorescence Guided Surgery (FGS), a surgical approach that helps doctors see things inside the body that are normally invisible under regular white light.
We have looked at the company’s past performance in our previous note. In this note, we talk about valuations.

New BD Looks Cheap But I’m Not Ready to Buy (Yet)

By Richard Howe

In Q1 2026, BDX will merge its Biosciences & Diagnostic Solutions segment to Waters (WAT). BDX will receive $4BN in cash and 0.14 WAT shares per BDX share, leaving its shareholders with roughly 39 percent of the combined company.
The remaining business, referred to as New BD, will be a focused med-tech company with ~$18BN in revenue across Medical Essentials, Connected Care, BioPharma Systems, and Interventional. More than 90 percent of revenue will be recurring, and management expects high single-digit earnings growth.
New BD’s valuation looks appealing. Based on where BDX and WAT currently trade, New BD implies a P/E of roughly 11x earnings. I believe the business deserves at least a 13x multiple, which would equate to about 12% upside. That said, I’m not ready to buy yet.

Narayana Hrudayalaya: A Quarter of Record Performance and Strategic Expansion

By Sudarshan Bhandari

NARH delivered its best-ever quarter in Q2FY26, with 20.3% YoY revenue growth, 30.3% YoY EBITDA growth and margin expansion across India and Cayman.
Margins improved even with limited capacity, showing stronger earnings quality. Cayman maintains over 40% margins, and India is preparing for a major INR 3,000 crore expansion phase.
With India easing capacity limits, Cayman scaling, and the UK Practice Plus acquisition expanding global reach, NARH is evolving into a stronger multi-country healthcare platform with long-term growth potential.

Masimo Corporation Expands Beyond Pulse Oximetry

Masimo Corporation, a global medical technology company, reported strong results in its third quarter of 2025.
The company experienced an 8% increase in revenue, driven by sustained demand for its innovative healthcare technologies.
The company also delivered a 450 basis point expansion in operating margins and a 38% year-over-year increase in adjusted earnings per share, signaling robust operational efficiency and revenue growth.

WTR Small-Cap Spotlight Recap: AI Nose’s Continuing Momentum in 2025 and What to Expect in 2026

By Water Tower Research

Key takeaways from 3Q25 earnings release. Lu highlighted Ainos’ strong revenue momentum, up more than 4x Y/Y, driven almost entirely by the deployment of AI Nose in senior care programs.
Lu noted that the reported revenue has yet to include any of the $2.1-million, three-year AI Nose subscription order from a semiconductor customer, signaling additional upside in the SmellTech platform’s revenue, the turnaround in gross margin to 82% YTD from negative last year, and Ainos’ cost management with cash operating expenses reduced by 15% YTD versus the previous year.
Lu also highlighted the company’s enhanced visibility through major tech exhibitions resulting in multiple leads, inclusion in a leading tech consultant’s annual tech report, and a GICS code change for the company to technology.

ORMP: Advancing Clinical Activities

By Zacks Small Cap Research

ORMP is leveraging its strong balance sheet to invest in early stage companies, primarily focusing on the medical & biopharma space.
ORMP has substantial liquidity as it both advances its oral drug delivery platform and pursues strategic opportunities, including strategic investments.
The company received ~$27m on its Scilex investment in 3Q25, with the principal on the Scilex investment now fully repaid.

RVPH: Brilaroxazine Poster Presentations

By Zacks Small Cap Research

Reviva is a research and development pharmaceutical company with two portfolio compounds targeting nine indications.
The candidates address multiple related mental disorders, rare diseases & other categories of un met need.
Reviva’s lead indication in schizophrenia with brilaroxazine completed its Phase III RECOVER trial & may pursue future studies.

Madrigal Pharma: Inside the MAESTRO-NASH Breakthrough- How Weight Loss Supercharges Antifibrotic Effects!

Madrigal Pharmaceuticals, a company focused on the treatment of nonalcoholic steatohepatitis (NASH), shared significant progress during its third-quarter 2025 results.
The primary highlight was the robust performance of its lead product Rezdiffra, which is garnering noteworthy sales traction.
Rezdiffra has quickly climbed the ladder in the specialty pharmaceutical market with annualized revenues surpassing $1 billion, achieved in just six quarters post-launch.

CSPC Pharma (1093 HK): 9M25 Remain Subdued on Finished Drugs; Key Pivotal Data Read Outs Awaited

By Tina Banerjee

CSPC Pharmaceutical Group (1093 HK) 9M25 revenue dropped 12% YoY as finished drugs witnessed decrease on VBP and NRDL inclusion. Bulk products and license fees compensated to an extent.
Pressure on revenue will continue to be felt. Newly launched products, pipeline strength and out licensing opportunities would help ward off the effects of lower revenues from finished drugs.
CSPC Pharmaceutical aims to expand into the high-end market to achieve competitive differentiation and thereby command higher prices. Pivotal data read outs awaited.

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

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

Nov 25

Daily Brief TMT/Internet: Taiwan Mobile, Gabia Inc, TSMC (Taiwan Semiconductor Manufacturing) – ADR, Klook, Softbank Group, Global Payments, Gartner Inc, Meitu Inc, Smec Co Ltd, Lumentum Holdings and more

By Smartkarma Daily Briefs | Daily Briefs, TMT/Internet

In today’s briefing:

Quiddity Leaderboard TDIV Dec25: Final Expectations: Many Changes to Rankings; Final Expectations
A Tender Offer of 10% Stake in Gabia by Align Partners Asset Management
Taiwan Dual-Listings Monitor: TSMC Spread Back in Extreme Range, UMC Discount
Klook Travel Technology (KLK): Peeking at the IPO Prospectus of a Hong Kong Based Travel Platform
SoftBank (9984 JP) Tactical Outlook: Extremely Oversold After -11% Plunge
Global Payments Dumps Issuer Solutions — Could This Game-Changing Divestiture Unlock Massive Cash Flow?
Gartner Inc: Setting the Stage for Breakthrough Revenue Growth With Smart Expansion!
Meitu Inc (1357 HK): AI a Threat? Not Really – Long-Term Compounder Driven by Dual Growth Engines
Primer: Smec Co Ltd (099440 KS) – Nov 2025
Lumentum Is Building A 2026 Technology Supercycle — Could CW

Quiddity Leaderboard TDIV Dec25: Final Expectations: Many Changes to Rankings; Final Expectations

By Janaghan Jeyakumar, CFA

The TDIV index tracks the top 50 names in the Taiwan Stock Exchange with the highest dividend yields. It is a yield-weighted index with unique capping rules.
Today is the base date for the final ranks and we see four ADDs and four DELs for the December 2025 rebal.
We estimate one-way flow to be around US$2.2bn with many flow names having multiple days of volume to trade.

A Tender Offer of 10% Stake in Gabia by Align Partners Asset Management

After the market close on 24 November, it was announced that Align Partners is conducting a partial tender offer of a 10% stake in Gabia Inc (079940 KS).
Tender offer price is 33,000 won (20% higher than current price). Tender offer amount is 44.7 billion won.
If Align Partners successfully completes this tender offer, its stake would rise to 19.03%. Plus, the combined stakes of Align Partners and Miri Capital would be 42.99%.

Taiwan Dual-Listings Monitor: TSMC Spread Back in Extreme Range, UMC Discount

By Vincent Fernando, CFA

TSMC: +25.8% Premium; Rebounded to High End of Range, Good Level to Open a Short of the ADR Spread
UMC: -2.2% Discount; Good Level to Open a Short of the ADR Spread
ASE: +3.2% Premium; Wait for More Extreme Level Before Going Long or Short

Klook Travel Technology (KLK): Peeking at the IPO Prospectus of a Hong Kong Based Travel Platform

By IPO Boutique

Klook leads APAC’s fast-growing travel-experiences market with mobile-first, AI-driven personalization and deep merchant integration across 310,000 offerings in 4,200 destinations.
Rapid GTV and profit-margin improvement highlight growing scale, strengthened monetization, and rising APAC demand in an under-digitized, fragmented global experiences sector.
Despite strong positioning, IPO prospects face scrutiny given sector volatility and recent peer underperformance, warranting cautious investor evaluation ahead of 2025 pricing.

SoftBank (9984 JP) Tactical Outlook: Extremely Oversold After -11% Plunge

By Nico Rosti

Softbank Group (9984 JP) crashed nearly -11% between Thursday and Friday close, reaching deeply oversold extremes.
Softbank Group has declined for three consecutive weeks, posting a cumulative -37% correction over this period.
Softbank Group‘s entry into the Outliers zone suggests an extreme oversold condition—potentially creating a tactical long setup for risk-tolerant traders.

Global Payments Dumps Issuer Solutions — Could This Game-Changing Divestiture Unlock Massive Cash Flow?

Global Payments Inc. delivered a strong performance in the third quarter of 2025, showcasing robust operational results and strategic initiatives that position the company for future growth.
The company reported 6% constant currency adjusted net revenue growth, excluding dispositions, alongside 110 basis points of margin expansion and 11% constant currency adjusted EPS growth compared to the prior year.
This performance was bolstered by strong execution across various business units, notably Merchant Solutions and Issuer Solutions.

Gartner Inc: Setting the Stage for Breakthrough Revenue Growth With Smart Expansion!

Gartner’s third-quarter 2025 financial results surpassed expectations amidst a dynamic macroeconomic environment.
The company navigated challenges like changes in the federal government and evolving tariff policies through operational adaptations that contributed to increased client retention and improved contract renewal rates.
Gartner’s client engagement indicators have shown positive trends, signaling potential future growth.

Meitu Inc (1357 HK): AI a Threat? Not Really – Long-Term Compounder Driven by Dual Growth Engines

By Raj S, CA, CFA

Meitu’s business model is not threatened by new AI image generation models. Long-term positioning remains intact. Last-mile workflows, a seventeen-year aesthetic dataset, and stable founder-led execution sustainable clear Moats.
Overseas markets offer materially higher pay-ratios and ARPU. Productivity and e-commerce tools drive the mix shift toward high-margin growth. Both support multi-year revenue compounding independent of AI capex cycles.
Recent Correction due to AI substitution fears drove the multiple to ~27x, placing PEG below 1x on 30% CAGR. Long-term buy with 100% upside and potential for strong re-rating.

Primer: Smec Co Ltd (099440 KS) – Nov 2025

By αSK

Smec Co Ltd is a South Korean company with dual exposure to the cyclical machine tool industry and the evolving telecommunications sector. Its machinery division, rooted in Samsung Heavy Industries, produces CNC lathes, machining centers, and robotic automation solutions. The ICT division provides various gateway solutions.
The company is strategically positioned to benefit from the growth in factory automation and the transition to electric vehicles (EVs), which require advanced manufacturing equipment. Recent corporate actions, including a significant stake acquisition by SNT Holdings with the stated purpose of influencing management, could signal a strategic shift and a more aggressive approach to enhancing corporate value.
Despite a strong growth track record in revenue and net income over the past several years, the company faces intense competition from larger domestic players and is susceptible to the capital expenditure cycles of its key end-markets. The lack of a consistent dividend payment may be a deterrent for income-focused investors.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Lumentum Is Building A 2026 Technology Supercycle — Could CW