All Posts By

Smartkarma Daily Briefs

Mar 30
0

Daily Brief Industrials: Asian Terminals, Kawasaki Heavy Industries and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Asian Dividend Gems: Asian Terminals Inc
  • Quiddity JPX-Nikkei 400 Rebal 2025: End-Mar 2025 Ranks

Asian Dividend Gems: Asian Terminals Inc

By Douglas Kim

  • Backed by DP World (DPW DU), Asian Terminals (ATI PM) is one of the largest owners and operators of ports and related infrastructure in the Philippines.
  • We are impressed with the company’s excellent financials including consistent profit margins and free cash flow, strong market share, and execution of its business strategies.
  • It also trades at cheap valuations with solid dividends and it has also been buying back shares. 

Quiddity JPX-Nikkei 400 Rebal 2025: End-Mar 2025 Ranks

By Janaghan Jeyakumar, CFA

  • JPX-Nikkei 400 is composed of common stocks listed on the Tokyo Stock Exchange. It is a free-float-adjusted capped index composed of 400 constituents.
  • The annual index review takes place in August every year. We look at the latest rankings of potential ADDs/DELs every month.
  • Below is a look at the rankings of potential ADDs/DELs for the JPX-Nikkei 400 August 2025 rebalance based on trading data as of end-March 2025.

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

Sign Up for Free

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

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


Mar 30
0

Daily Brief TMT/Internet: Topcon Corp, Hang Seng TECH Index, Shinko Electric Industries, United Microelectron Sp Adr, Sprinklr, Cogent Communications Holdings, Viasat Inc, Gitlab , HashiCorp , Lumentum Holdings and more

By | Daily Briefs, TMT/Internet

In today’s briefing:

  • Topcon (7732 JP): KKR/JICC-Sponsored Preconditional MBO, with Caveats
  • ETF Flows in Q1: Inflows for Taiwan, Outflows for China
  • (Mostly) Asia-Pac M&A: Gold Fields, Sinarmas Land, Shinko Electric, Domain, Japfa, Tsuruha/Welcia
  • UMC (2303.TT; UMC.US): 1Q25 Results Could Be Upbeat, but 2Q25 Could Be a Bit Downside.
  • Sprinklr Doubles Down on Big-Spending Clients to Unlock MarginExpansion! Will It Work?
  • Can Cogent’s IPv4 Strategy Unlock a Massive New Revenue Stream?
  • Viasat’s Global Satellite Game Plan: Could Its Flexible Coverage Strategy Up Their Game?
  • GitLab’s MASSIVE Jump In SaaS Revenue – Could It Be The Secret Weapon For Future Growth?
  • HashiCorp Ramps Up Cloud Revenue: Could This Be Their Most Profitable Move Yet?
  • Lumentum Holdings: Their Recent Capacity Expansion and Technology Growth Is Fuelling Our Optimism!

Topcon (7732 JP): KKR/JICC-Sponsored Preconditional MBO, with Caveats

By Arun George

  • Topcon Corp (7732 JP) recommended a KKR/JICC-sponsored preconditional MBO at JPY3,300, representing an 87.9% premium to the undisturbed price and a 5.4% premium to the last close.
  • The offer is preconditional on regulatory approvals and is scheduled to start at the end of July. The offer is attractive and represents an all-time high. 
  • The offer comes with caveats: the Board recommendation is not unanimous, the lower limit is set below the two-thirds threshold, and KKR offered a higher price during the discussions. 

ETF Flows in Q1: Inflows for Taiwan, Outflows for China

By Brian Freitas

  • The largest ETF inflows in the region have been in Taiwan as investors rush into indices that have higher dividend yields.
  • China had large inflows last year as markets floundered. With markets trading in a range over the last 6 months, those flows have reversed in Q1 this year.
  • Australia has seen net inflows this year, while there have been net outflows from Hong Kong, India and Japan focused ETFs.

(Mostly) Asia-Pac M&A: Gold Fields, Sinarmas Land, Shinko Electric, Domain, Japfa, Tsuruha/Welcia

By David Blennerhassett

UMC (2303.TT; UMC.US): 1Q25 Results Could Be Upbeat, but 2Q25 Could Be a Bit Downside.

By Patrick Liao

  • The 1Q25 outlook is slightly affected by earthquakes, but production can resume in late 1Q25.
  • The UMC 12nm project could be in vain if Intel collaborates with TSMC or if TSMC takes over Intel’s foundry service.   
  • UMC’s annual revenue could see a -5% year-over-year growth in 2025, but there may be a few percentages increase in wafer shipments.  

Sprinklr Doubles Down on Big-Spending Clients to Unlock MarginExpansion! Will It Work?

By Baptista Research

  • Sprinklr recently reported its financial results for the fourth quarter and the full fiscal year of 2025.
  • The company showcased a moderate revenue growth rate, with total revenue for the fourth quarter up 4% year-over-year to $202.5 million, while subscription revenue also grew by 3% year-over-year to $182.1 million.
  • Non-GAAP operating income was noted at $25.9 million, resulting in a 13% non-GAAP operating margin.

Can Cogent’s IPv4 Strategy Unlock a Massive New Revenue Stream?

By Baptista Research

  • Cogent Communications Holdings reported its fourth-quarter and full-year 2024 financial results, with some noteworthy developments across its business segments and operations.
  • The company closed the year with total revenue of $252.3 million for the quarter, bringing the full year’s revenue to $1 billion, an increase from $940.9 million in 2023.
  • EBITDA, as adjusted, was $66.9 million for the quarter and $348.4 million for the year, showing a slight decrease compared to the previous year’s $352.5 million.

Viasat’s Global Satellite Game Plan: Could Its Flexible Coverage Strategy Up Their Game?

By Baptista Research

  • Viasat’s latest financial results provide a comprehensive view of its current performance and future outlook in the satellite communications industry.
  • The company demonstrated a solid financial standing, with revenues for the third quarter of fiscal year 2025 at $1.12 billion and an adjusted EBITDA of $393 million, reflecting a 3% increase year-over-year.
  • The adjusted EBITDA margin stood at 35%, indicating moderate growth and operational efficiency improvements.

GitLab’s MASSIVE Jump In SaaS Revenue – Could It Be The Secret Weapon For Future Growth?

By Baptista Research

  • GitLab Inc. delivered a strong performance in the fourth quarter of fiscal year 2025, showcasing impressive top line growth and improved profitability metrics.
  • The company’s revenue increased by 29% year-over-year to $211.4 million, driven by robust momentum in its enterprise offerings, particularly GitLab’s Ultimate and Duo products.
  • Notably, the company demonstrated significant operating leverage with a non-GAAP operating margin of 17.7%, an increase of more than 960 basis points compared to the same period in the previous year.

HashiCorp Ramps Up Cloud Revenue: Could This Be Their Most Profitable Move Yet?

By Baptista Research

  • HashiCorp has reported its fiscal 2024 fourth-quarter earnings, surpassing expectations with $156 million in revenue, signaling a 15% year-over-year growth.
  • The company has shown strong overall performance in the context of a challenging economic landscape, indicating potential recovery signs in the market.
  • The non-GAAP remaining performance obligations also reported a growth of 21% year-over-year, reaching $483 million, reflecting continuous demand for its offerings.

Lumentum Holdings: Their Recent Capacity Expansion and Technology Growth Is Fuelling Our Optimism!

By Baptista Research

  • Lumentum Holdings recently released its second-quarter fiscal year 2025 earnings, presenting a blend of strong performance in certain segments and ongoing challenges in others.
  • Led by CEO Alan Lowe, who has announced his retirement, the company highlighted key financial results and strategic initiatives amidst a backdrop of leadership transition.
  • In the second quarter, Lumentum exceeded the high end of its guidance range for both revenue and earnings per share.

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

Sign Up for Free

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

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


Mar 30
0

Daily Brief Industrials: Asian Terminals, Kawasaki Heavy Industries and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Asian Dividend Gems: Asian Terminals Inc
  • Quiddity JPX-Nikkei 400 Rebal 2025: End-Mar 2025 Ranks

Asian Dividend Gems: Asian Terminals Inc

By Douglas Kim

  • Backed by DP World (DPW DU), Asian Terminals (ATI PM) is one of the largest owners and operators of ports and related infrastructure in the Philippines.
  • We are impressed with the company’s excellent financials including consistent profit margins and free cash flow, strong market share, and execution of its business strategies.
  • It also trades at cheap valuations with solid dividends and it has also been buying back shares. 

Quiddity JPX-Nikkei 400 Rebal 2025: End-Mar 2025 Ranks

By Janaghan Jeyakumar, CFA

  • JPX-Nikkei 400 is composed of common stocks listed on the Tokyo Stock Exchange. It is a free-float-adjusted capped index composed of 400 constituents.
  • The annual index review takes place in August every year. We look at the latest rankings of potential ADDs/DELs every month.
  • Below is a look at the rankings of potential ADDs/DELs for the JPX-Nikkei 400 August 2025 rebalance based on trading data as of end-March 2025.

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

Sign Up for Free

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

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


Mar 30
0

Daily Brief Health Care: Prodia, Innovent Biologics Inc, Dentsply International and more

By | Daily Briefs, Healthcare

In today’s briefing:

  • Prodia (PRDA IJ) – Expanding and Digitally Remastered
  • Innovent Biologics Inc (1801 HK): 2024 Product Sales Jump 44% and Loss Narrows; Momentum to Continue
  • Dentsply Sirona’s Plan: Merging Tech

Prodia (PRDA IJ) – Expanding and Digitally Remastered

By Angus Mackintosh

  • Prodia (PRDA IJ) FY2024 results reflect an impending recovery, with the company aggressively expanding its outlets by adding 73 over the year, and mostly lower cost points of collection. 
  • The company continues to roll out new tests, with more emphasis on esoteric testing, but also looking at routine testing. It will continue opening new outlets in 2025. 
  • Prodia also continues to expand its digital capabilities through U by Prodia for patients and Prodia for Doctors, and Prodialink. Valuations look attractive with Prodia trading on a low-single-digit EV/EBITDA,

Innovent Biologics Inc (1801 HK): 2024 Product Sales Jump 44% and Loss Narrows; Momentum to Continue

By Tina Banerjee

  • Innovent Biologics Inc (1801 HK) has announced 2024 result, with total revenue increasing a whopping 52% YoY to RMB9,422M and net loss narrowing 91% YoY to RMB933M.
  • On adjusted basis, the company reported maiden net profit of RMB332M compared with loss of RMB515M in 2023. Innovent is expected to become profitable on reported basis this year.
  • Innovent aims to achieve RMB 20B product revenue in 2027, implying a CAGR of 34% and advance five pipeline assets to the global/multi-regional Phase 3 clinical trial stage by 2030. 

Dentsply Sirona’s Plan: Merging Tech

By Baptista Research

  • DENTSPLY SIRONA’s fourth-quarter and full-year 2024 earnings report reflects a mixed performance amid ongoing challenges and strategic repositioning.
  • On the positive side, the company experienced growth in several areas, including a 13% uplift in imaging and a 7% increase in Wellspect sales.
  • In Europe, DENTSPLY SIRONA achieved a 2% organic sales growth, supported by significant momentum in Germany and a 20% year-on-year growth in the SureSmile business.

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

Sign Up for Free

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

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


Mar 30
0

Daily Brief Consumer: JD.com , Seven & I Holdings, Macy’s Inc, Signet Jewelers, Target Corp, Abercrombie & Fitch Co Cl A, TSE Tokyo Price Index TOPIX, Arcos Dorados Holdings and more

By | Consumer, Daily Briefs

In today’s briefing:

  • JD.com (9618 HK): Strategic Highlights and Market View from HKEX Top Trades
  • Last Week in Event SPACE: Seven & I, ENN Energy, Sun Corp, Great Eastern Holdings
  • Macy’s Inc. A Tale Of Reimagined Store Initiatives & Digital Integration To Push For Growth!
  • Wall Street Smells A Buyout: Signet Jewelers Just Got a $4.2 Billion Wake-Up Call!
  • Target Corporation Paving The Way Forward With Digital Future With AI
  • Abercrombie & Fitch Quietly Built A Retail Empire — And Just Fired Its Biggest Growth Cannon Yet!
  • Aiming for REITs with Lower Downside Risk and Expectations of Higher Shareholder Returns?
  • Arcos Dorados: Will This Digital Surge Help Gain Market Share In The Latam QSR Market?

JD.com (9618 HK): Strategic Highlights and Market View from HKEX Top Trades

By Gaudenz Schneider

  • This Insight analyses JD.com (9618 HK) option strategies traded over the last five trading days on the Hong Kong Exchange. Strategy highlights and volatility context are provided.
  • Bearish strategies dominate trading activity, outnumbering bullish ones by more than 3:1, with long volatility structures and calendar/diagonal spreads being prevalent.
  • Long tail events: Several strategies follow a pattern of minimal upfront cost (0.1% premium), targeting a significant payout in case of large price movements within a short timeframe. 

Last Week in Event SPACE: Seven & I, ENN Energy, Sun Corp, Great Eastern Holdings

By David Blennerhassett

  • If you don’t think Seven & I (3382 JP)‘s Standalone Plan has legs to go north of here, or ACT gets its act together,  then you should sell into strength.
  • ENN Energy (2688 HK)‘s cash and scrip (into a unlisted H-share-equivalent entity) Offer was not what the doctor ordered.
  • Sun Corp (6736 JP) is cheap to its holding in Cellebrite DI (CLBT US). How cheap depends on the form and structure of its eventual exit.

Macy’s Inc. A Tale Of Reimagined Store Initiatives & Digital Integration To Push For Growth!

By Baptista Research

  • Macy’s Inc.’s fourth quarter 2024 results reflect a mixture of strategic advancements and continued challenges within a shifting retail landscape.
  • First, the positive aspect of Macy’s strategy comes through its “Bold New Chapter” framework, which focuses on enhancing customer experiences, optimizing store operations, and improving merchandising and digital capabilities.
  • This plan is seemingly paying off as Macy’s achieved a 0.2% year-over-year increase in comparable sales, marking its best performance in 11 quarters.

Wall Street Smells A Buyout: Signet Jewelers Just Got a $4.2 Billion Wake-Up Call!

By Baptista Research

  • Signet Jewelers Ltd. is currently navigating a complex landscape, balancing strategic restructuring with the need to address short-term operational challenges.
  • The fourth quarter of the fiscal year reflected a decline in revenue by 6%, yet adjusted earnings per share (EPS) maintained near previous levels due to significant share repurchases.
  • Same-store sales fell by 1.1%, influenced by the absence of a 53rd week from the prior fiscal year, which accounted for an approximate 4-point difference in total sales.

Target Corporation Paving The Way Forward With Digital Future With AI

By Baptista Research

  • Target Corporation’s recent financial presentation unveiled a comprehensive roadmap for potential growth, positioned against the backdrop of a mixed retail environment characterized by both challenges and opportunities.
  • Target emphasized its differentiated retail strategy, focusing on delivering on-trend, affordable products, aiming to capitalize on its unique brand position in the market often affectionately referred to as “Tarzhay” by its consumers.
  • Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Abercrombie & Fitch Quietly Built A Retail Empire — And Just Fired Its Biggest Growth Cannon Yet!

By Baptista Research

  • Abercrombie & Fitch Company delivered strong financial performance in the fourth quarter of fiscal year 2024, marking a successful turnaround and growth trajectory driven by robust sales, improved operating efficiencies, and strategic investments.
  • The period ended with notable financial achievements including a 9% increase in net sales year-over-year, translating to $1.58 billion.
  • Excluding the impact of the 53rd week in 2023, the net sales growth was an even more impressive 14%.

Aiming for REITs with Lower Downside Risk and Expectations of Higher Shareholder Returns?

By Aki Matsumoto

  • REITs, whose main players are regional banks that invest as a bond alternative, tend to stop their market decline when the spread with JGB yields approaches 400 basis points.
  • While there is certainly room for REITs to strengthen shareholder returns, the possibility that domestic investors may want stable dividends cannot be denied.
  • Other activist investors are watching with interest to see if the shareholder activism approach works in REITs as well, but the main battleground is still listed equities.

Arcos Dorados: Will This Digital Surge Help Gain Market Share In The Latam QSR Market?

By Baptista Research

  • Arcos Dorados Holdings Inc. reported its fourth quarter and full year 2024 earnings, highlighting both strengths and challenges the company faced over the period.
  • Arcos Dorados, the largest independent McDonald’s franchisee in Latin America and the Caribbean, showcased resilience in a volatile economic landscape, demonstrating growth across sales channels and operational improvements.
  • Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

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

Sign Up for Free

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

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


Mar 30
0

Daily Brief Financials: Sinarmas Land and more

By | Daily Briefs, Financials

In today’s briefing:

  • The Widjaja Family’s Tilt For Sinarmas Land: This Needs A Bump

The Widjaja Family’s Tilt For Sinarmas Land: This Needs A Bump

By David Blennerhassett

  • The family trust of the Widjaja Family has made a voluntary unconditional general Offer for the 29.7% in Sinarmas Land (SML SP) not held.
  • The S$0.31 cash Offer (not declared final) for the (mainly) Indo property play is a 12.9% premium to last close; but a 73.9% discount to Sinarmas’ 1H24 NAV of S$1.19/share.
  • The Offer is unconditional in all respects. Trading a spread through terms. This deserves a bump.

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

Sign Up for Free

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

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


Mar 30
0

Daily Brief Singapore: Sinarmas Land and more

By | Daily Briefs, Singapore

In today’s briefing:

  • The Widjaja Family’s Tilt For Sinarmas Land: This Needs A Bump

The Widjaja Family’s Tilt For Sinarmas Land: This Needs A Bump

By David Blennerhassett

  • The family trust of the Widjaja Family has made a voluntary unconditional general Offer for the 29.7% in Sinarmas Land (SML SP) not held.
  • The S$0.31 cash Offer (not declared final) for the (mainly) Indo property play is a 12.9% premium to last close; but a 73.9% discount to Sinarmas’ 1H24 NAV of S$1.19/share.
  • The Offer is unconditional in all respects. Trading a spread through terms. This deserves a bump.

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

Sign Up for Free

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

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


Mar 30
0

Daily Brief United States: Abercrombie & Fitch Co Cl A, Celanese Corp Series A, Cheniere Energy, Cogent Communications Holdings, Dentsply International, Gitlab , HashiCorp , Lumentum Holdings, Macy’s Inc, Signet Jewelers and more

By | Daily Briefs, United States

In today’s briefing:

  • Abercrombie & Fitch Quietly Built A Retail Empire — And Just Fired Its Biggest Growth Cannon Yet!
  • Celanese’s Strategic Shake-Up: New Board, New Markets, New Era of Dominance?
  • Cheniere Energy’s Geopolitical Tailwinds Are Fading—Is The Growth Story Losing Steam?
  • Can Cogent’s IPv4 Strategy Unlock a Massive New Revenue Stream?
  • Dentsply Sirona’s Plan: Merging Tech
  • GitLab’s MASSIVE Jump In SaaS Revenue – Could It Be The Secret Weapon For Future Growth?
  • HashiCorp Ramps Up Cloud Revenue: Could This Be Their Most Profitable Move Yet?
  • Lumentum Holdings: Their Recent Capacity Expansion and Technology Growth Is Fuelling Our Optimism!
  • Macy’s Inc. A Tale Of Reimagined Store Initiatives & Digital Integration To Push For Growth!
  • Wall Street Smells A Buyout: Signet Jewelers Just Got a $4.2 Billion Wake-Up Call!

Abercrombie & Fitch Quietly Built A Retail Empire — And Just Fired Its Biggest Growth Cannon Yet!

By Baptista Research

  • Abercrombie & Fitch Company delivered strong financial performance in the fourth quarter of fiscal year 2024, marking a successful turnaround and growth trajectory driven by robust sales, improved operating efficiencies, and strategic investments.
  • The period ended with notable financial achievements including a 9% increase in net sales year-over-year, translating to $1.58 billion.
  • Excluding the impact of the 53rd week in 2023, the net sales growth was an even more impressive 14%.

Celanese’s Strategic Shake-Up: New Board, New Markets, New Era of Dominance?

By Baptista Research

  • Celanese Corporation recently concluded its Q4 2024 earnings call, led by CEO Scott Richardson and CFO Chuck Kyrish.
  • The company has been taking proactive measures to enhance performance amidst industry challenges.
  • The leadership’s focus has been on cash generation, cost reduction, and strategic divestitures, as reflected in the company’s actions over the past quarters.

Cheniere Energy’s Geopolitical Tailwinds Are Fading—Is The Growth Story Losing Steam?

By Baptista Research

  • Cheniere Energy posted robust results for the fourth quarter and full year 2024, demonstrating its strong operational and financial performance.
  • The company reported a consolidated adjusted EBITDA of approximately $1.6 billion for the fourth quarter, with a full-year total of $6.155 billion.
  • This reflects solid underlying business performance, driven by Cheniere’s focus on safety, operational excellence, customer engagement, and financial discipline.

Can Cogent’s IPv4 Strategy Unlock a Massive New Revenue Stream?

By Baptista Research

  • Cogent Communications Holdings reported its fourth-quarter and full-year 2024 financial results, with some noteworthy developments across its business segments and operations.
  • The company closed the year with total revenue of $252.3 million for the quarter, bringing the full year’s revenue to $1 billion, an increase from $940.9 million in 2023.
  • EBITDA, as adjusted, was $66.9 million for the quarter and $348.4 million for the year, showing a slight decrease compared to the previous year’s $352.5 million.

Dentsply Sirona’s Plan: Merging Tech

By Baptista Research

  • DENTSPLY SIRONA’s fourth-quarter and full-year 2024 earnings report reflects a mixed performance amid ongoing challenges and strategic repositioning.
  • On the positive side, the company experienced growth in several areas, including a 13% uplift in imaging and a 7% increase in Wellspect sales.
  • In Europe, DENTSPLY SIRONA achieved a 2% organic sales growth, supported by significant momentum in Germany and a 20% year-on-year growth in the SureSmile business.

GitLab’s MASSIVE Jump In SaaS Revenue – Could It Be The Secret Weapon For Future Growth?

By Baptista Research

  • GitLab Inc. delivered a strong performance in the fourth quarter of fiscal year 2025, showcasing impressive top line growth and improved profitability metrics.
  • The company’s revenue increased by 29% year-over-year to $211.4 million, driven by robust momentum in its enterprise offerings, particularly GitLab’s Ultimate and Duo products.
  • Notably, the company demonstrated significant operating leverage with a non-GAAP operating margin of 17.7%, an increase of more than 960 basis points compared to the same period in the previous year.

HashiCorp Ramps Up Cloud Revenue: Could This Be Their Most Profitable Move Yet?

By Baptista Research

  • HashiCorp has reported its fiscal 2024 fourth-quarter earnings, surpassing expectations with $156 million in revenue, signaling a 15% year-over-year growth.
  • The company has shown strong overall performance in the context of a challenging economic landscape, indicating potential recovery signs in the market.
  • The non-GAAP remaining performance obligations also reported a growth of 21% year-over-year, reaching $483 million, reflecting continuous demand for its offerings.

Lumentum Holdings: Their Recent Capacity Expansion and Technology Growth Is Fuelling Our Optimism!

By Baptista Research

  • Lumentum Holdings recently released its second-quarter fiscal year 2025 earnings, presenting a blend of strong performance in certain segments and ongoing challenges in others.
  • Led by CEO Alan Lowe, who has announced his retirement, the company highlighted key financial results and strategic initiatives amidst a backdrop of leadership transition.
  • In the second quarter, Lumentum exceeded the high end of its guidance range for both revenue and earnings per share.

Macy’s Inc. A Tale Of Reimagined Store Initiatives & Digital Integration To Push For Growth!

By Baptista Research

  • Macy’s Inc.’s fourth quarter 2024 results reflect a mixture of strategic advancements and continued challenges within a shifting retail landscape.
  • First, the positive aspect of Macy’s strategy comes through its “Bold New Chapter” framework, which focuses on enhancing customer experiences, optimizing store operations, and improving merchandising and digital capabilities.
  • This plan is seemingly paying off as Macy’s achieved a 0.2% year-over-year increase in comparable sales, marking its best performance in 11 quarters.

Wall Street Smells A Buyout: Signet Jewelers Just Got a $4.2 Billion Wake-Up Call!

By Baptista Research

  • Signet Jewelers Ltd. is currently navigating a complex landscape, balancing strategic restructuring with the need to address short-term operational challenges.
  • The fourth quarter of the fiscal year reflected a decline in revenue by 6%, yet adjusted earnings per share (EPS) maintained near previous levels due to significant share repurchases.
  • Same-store sales fell by 1.1%, influenced by the absence of a 53rd week from the prior fiscal year, which accounted for an approximate 4-point difference in total sales.

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

Sign Up for Free

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

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


Mar 30
0

Daily Brief Indonesia: Prodia and more

By | Daily Briefs, Indonesia

In today’s briefing:

  • Prodia (PRDA IJ) – Expanding and Digitally Remastered

Prodia (PRDA IJ) – Expanding and Digitally Remastered

By Angus Mackintosh

  • Prodia (PRDA IJ) FY2024 results reflect an impending recovery, with the company aggressively expanding its outlets by adding 73 over the year, and mostly lower cost points of collection. 
  • The company continues to roll out new tests, with more emphasis on esoteric testing, but also looking at routine testing. It will continue opening new outlets in 2025. 
  • Prodia also continues to expand its digital capabilities through U by Prodia for patients and Prodia for Doctors, and Prodialink. Valuations look attractive with Prodia trading on a low-single-digit EV/EBITDA,

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

Sign Up for Free

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

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


Mar 30
0

Daily Brief China: JD.com , Hang Seng TECH Index, Innovent Biologics Inc and more

By | China, Daily Briefs

In today’s briefing:

  • JD.com (9618 HK): Strategic Highlights and Market View from HKEX Top Trades
  • ETF Flows in Q1: Inflows for Taiwan, Outflows for China
  • Innovent Biologics Inc (1801 HK): 2024 Product Sales Jump 44% and Loss Narrows; Momentum to Continue

JD.com (9618 HK): Strategic Highlights and Market View from HKEX Top Trades

By Gaudenz Schneider

  • This Insight analyses JD.com (9618 HK) option strategies traded over the last five trading days on the Hong Kong Exchange. Strategy highlights and volatility context are provided.
  • Bearish strategies dominate trading activity, outnumbering bullish ones by more than 3:1, with long volatility structures and calendar/diagonal spreads being prevalent.
  • Long tail events: Several strategies follow a pattern of minimal upfront cost (0.1% premium), targeting a significant payout in case of large price movements within a short timeframe. 

ETF Flows in Q1: Inflows for Taiwan, Outflows for China

By Brian Freitas

  • The largest ETF inflows in the region have been in Taiwan as investors rush into indices that have higher dividend yields.
  • China had large inflows last year as markets floundered. With markets trading in a range over the last 6 months, those flows have reversed in Q1 this year.
  • Australia has seen net inflows this year, while there have been net outflows from Hong Kong, India and Japan focused ETFs.

Innovent Biologics Inc (1801 HK): 2024 Product Sales Jump 44% and Loss Narrows; Momentum to Continue

By Tina Banerjee

  • Innovent Biologics Inc (1801 HK) has announced 2024 result, with total revenue increasing a whopping 52% YoY to RMB9,422M and net loss narrowing 91% YoY to RMB933M.
  • On adjusted basis, the company reported maiden net profit of RMB332M compared with loss of RMB515M in 2023. Innovent is expected to become profitable on reported basis this year.
  • Innovent aims to achieve RMB 20B product revenue in 2027, implying a CAGR of 34% and advance five pipeline assets to the global/multi-regional Phase 3 clinical trial stage by 2030. 

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

Sign Up for Free

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

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