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Smartkarma Daily Briefs

Dec 25
0

Daily Brief China: Minieye Technology and more

By | China, Daily Briefs

In today’s briefing:

  • Minieye Technology IPO: Valuation Multiples Appear Justified Given Top-Line Growth of 30%+

Minieye Technology IPO: Valuation Multiples Appear Justified Given Top-Line Growth of 30%+

By Andrei Zakharov

  • Minieye Technology, a fast-growing provider of intelligent driving and cabin solutions in China, will price its IPO this week.
  • The company was backed by CICC Capital, Beijing Siwei, Shenzhen Zeyi, and Mr. Wu Yongming, the current CEO of Alibaba, among others.
  • IPO valuation multiples appear justified given the company’s top-line growth of 30%+ and full-stack in-house R&D capabilities.

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Dec 25
0

Daily Brief Japan: Matsuya Co Ltd and more

By | Daily Briefs, Japan

In today’s briefing:

  • Matsuya Targets ¥20 Billion Online

Matsuya Targets ¥20 Billion Online

By Michael Causton

  • Department store sales to locals plummeted in October, resulting in the first decline in 32 months.
  • While sluggish clothing sales was one factor, another was crowded luxury concessions putting off locals from visiting.
  • Matsuya thinks it has the answer: keeping locals and tourists separate using a new online store.

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Dec 25
0

Most Read: China National Building Material, Hang Seng TECH Index, Seven & I Holdings, Honda Motor, Kokusai Electric , AppLovin , Malaysia Airports Holdings, LG CNS, Greatview Aseptic Packaging, Hyundai Motor and more

By | Daily Briefs, Most Read

In today’s briefing:

  • CNBM (3323 HK)’s Buyback Ups Parent’s Stake >50%
  • How Has the Index Rebalance Strategy Performed in 2024?
  • 7&I (3382 JP) – Share Price Dipping Deeper Means Dipping Toes Deeper
  • Honda (7267 JP) – MAMMOTH New ¥1.1Trln Stock Buyback
  • Japan: Potential Passive Selling in February
  • S&P500 December 2024 Forecast (Final): Flipping the COIN
  • Malaysia Airports (MAHB MK): IFA Says NOT Fair, But Reasonable; And To Accept Terms
  • LG CNS IPO: Limited Float Pushes Back Passive Buying
  • GAPack (468 HK): XJF’s Offer Now Open
  • Korea FSC Official: New Rule to Block “Treasury Stock Magic” Takes Effect on 31st

CNBM (3323 HK)’s Buyback Ups Parent’s Stake >50%

By David Blennerhassett

How Has the Index Rebalance Strategy Performed in 2024?

By Brian Freitas

  • It has been a decent year for the index rebalance strategy, though there have been some big hiccups along the way.
  • Forecasting the index changes and impacts has been important, but timing (especially momentum/value regime changes) and hedge selection have also been major factors affecting the returns of the strategy.
  • As passive AUM continues to increase, we expect focus on the strategy to continue in 2025 with market players taking different approaches to trading the potential and announced index changes.

7&I (3382 JP) – Share Price Dipping Deeper Means Dipping Toes Deeper

By Travis Lundy

  • Seven & I Holdings (3382 JP) shares are in a lull here. Winter doldrums without news as the Ito consortium gets its ducks in a row and 7&i sells York.
  • Alimentation Couche-Tard (ATD CN) is waiting patiently. They have the ability to wait, and to fund, and pay up. 
  • An article/show is causing a dip today on top of last week’s weakness. This is a dip to buy.

Honda (7267 JP) – MAMMOTH New ¥1.1Trln Stock Buyback

By Travis Lundy

  • Today, along with the announcement of Memorandum of Understanding between Honda Motor (7267 JP), and Nissan Motor (7201 JP) to work towards negotiating a Joint Holding Company by June 2025… 
  • Honda cancelled their existing ¥100bn buyback, and initiated a truly mammoth NEW Buyback – up to 1.1 billion shares (23.7% of TSO), spending up to ¥1.1trln on market through Dec-2025.
  • Assuming the stock pops, it is probably “only” worth 15-18%, but that’s still a LOT. At that rate it boosts BVPS by 8+% on its own, and EPS by 17%.

Japan: Potential Passive Selling in February

By Brian Freitas

  • Currently, 9 stocks could be deleted from global passive portfolios in February. The deletion will lead to liquidity events where trackers will need to sell multiple days of ADV.
  • There has been a buildup on shorts on few stocks with minimal positioning in the other stocks. That could change once the calendar ticks over to 2025.
  • Kokusai Electric (6525 JP) is a potential inclusion to the Nikkei 225 (NKY INDEX) in March and this deletion could provide liquidity to enter a position ahead of that announcement.

S&P500 December 2024 Forecast (Final): Flipping the COIN

By Dimitris Ioannidis

  • Coinbase Global (COIN US) can be the unexpected addition by transition because of a high liquidity score and a close distance below the estimated transition threshold.
  • Lennox International (LII US) is the main candidate for addition by migration due to having the highest average mcap score and passing eligibility metrics.
  • Illumina Inc (ILMN US) has a muted conviction for addition because of ineligible earnings and a recent deletion from the index.

Malaysia Airports (MAHB MK): IFA Says NOT Fair, But Reasonable; And To Accept Terms

By David Blennerhassett

  • Back on the 15th May, a consortium (Khazanah Nasional, EPF, the Abu Dhabi Investment Authority, and Global Infrastructure Partners) collectively holding 41.22%, launched an Offer for Malaysia Airports (MAHB MK).
  • After some political gymnastics, MAHB squared away the necessary regulatory approvals, and a firm Offer was made on the 15th November. The Offer Doc dispatched on the 6th December. 
  • In the Circular on Friday, the IFA said NOT fair – with reference to a SOTP; but reasonable referencing historical market pricing and that no competing Offer will emerge. 

LG CNS IPO: Limited Float Pushes Back Passive Buying

By Brian Freitas

  • LG CNS (LGCNSZ KS) is looking to raise up to KRW 1,199bn (US$830m), valuing the company at KRW 6 trillion (US$4.15bn) at the top end of the IPO price range.
  • As a member of the IT sector, inclusion in the KOSPI200 Index will only take place via Fast Entry (near impossible) or as a large-scale company.
  • Inclusion in global indices could commence in September 2025 and will be easier if the identity of the pre-IPO minority shareholders is disclosed or if the strategic investors sell.

GAPack (468 HK): XJF’s Offer Now Open

By David Blennerhassett

  • On Friday, the 20th December, GAPack (468 HK) announced that Shandong Xinjufeng Technology (301296 CH) (XJF) had satisfied all pre-conditions.
  • The Offer Document has now been dispatched, and the Offer is now open for tendering. The First Close is the 21st January.
  • This Doc is largely a nothing burger. The Response Document, which will include the IFA, is required to be dispatched on or before the 7 January 2025. 

Korea FSC Official: New Rule to Block “Treasury Stock Magic” Takes Effect on 31st

By Sanghyun Park

  • Korea FSC announced on the 24th that the updated Capital Markets Act rules, approved by the Cabinet, will take effect on the 31st.
  • Banning new shares to treasury stocks during spin-offs could shift board focus in Korea, reducing big shareholder influence and prioritizing the broader shareholder base.
  • The capital markets law change could shift shareholder returns from buybacks to dividends, marking a key inflection point for traders, especially in Korea’s preferred stock market.

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Dec 25
0

Daily Brief Industrials: Minieye Technology, Samsung C&T, FedEx Corp, Cintas Corp and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Minieye Technology IPO: Valuation Multiples Appear Justified Given Top-Line Growth of 30%+
  • Change in Regulation of Treasury Shares Allocation Post Spinoffs Starting January 2025
  • FedEx’s $30 Billion Spin-Off: A Game-Changer for Freight and Shareholders? – Major Drivers
  • Cintas Corporation: Customer Base Expansion through No Program Accounts As A Critical Factor Driving Growth! – Major Drivers

Minieye Technology IPO: Valuation Multiples Appear Justified Given Top-Line Growth of 30%+

By Andrei Zakharov

  • Minieye Technology, a fast-growing provider of intelligent driving and cabin solutions in China, will price its IPO this week.
  • The company was backed by CICC Capital, Beijing Siwei, Shenzhen Zeyi, and Mr. Wu Yongming, the current CEO of Alibaba, among others.
  • IPO valuation multiples appear justified given the company’s top-line growth of 30%+ and full-stack in-house R&D capabilities.

Change in Regulation of Treasury Shares Allocation Post Spinoffs Starting January 2025

By Douglas Kim

  • Starting January 2025, there will be a major change in the regulation regarding the use of treasury shares during a company spinoff process.
  • The main change involves the practice of allocating newly issued shares to existing treasury shares held by companies during corporate spinoffs. 
  • This practice will now be banned which should help to reduce the wrongful use of treasury shares and improve minority shareholders’ rights. 

FedEx’s $30 Billion Spin-Off: A Game-Changer for Freight and Shareholders? – Major Drivers

By Baptista Research

  • FedEx Corporation is embarking on a transformative journey with its announcement to spin off FedEx Freight into a standalone publicly traded company within the next 18 months.
  • The move, estimated to unlock over $30 billion in value, aims to streamline FedEx’s core operations and capitalize on the rising valuations of standalone trucking companies.
  • The spinoff is seen as a strategic step to enhance focus, competitiveness, and shareholder value.

Cintas Corporation: Customer Base Expansion through No Program Accounts As A Critical Factor Driving Growth! – Major Drivers

By Baptista Research

  • Cintas Corporation recently released its fiscal 2025 second-quarter results, highlighting strong financial performance but facing some challenges.
  • The company experienced robust demand for its diverse service offerings, contributing to a 7.8% increase in total revenue, reaching $2.56 billion.
  • The organic growth rate, adjusted for acquisitions and currency impacts, stood at 7.1%.

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Dec 25
0

Daily Brief Energy/Materials: Insolation Energy, Crude Oil, SGX Rubber Future TSR20, Natural Gas, Rajshree Polypack and more

By | Daily Briefs, Energy & Materials Sector

In today’s briefing:

  • Insolation Energy Ltd- Forensic Analysis
  • [US Crude Oil Options Weekly 2024/51] WTI Futures Fall on Weak China Data and Fed Hawkishness
  • Vietnam Rubber Group (VRG) Showcases Its EUDR Preparedness At Annual Rubber Conference
  • [US Nat Gas Options Weekly 2024/51] Henry Hub Surged for the Second Week on Robust Demand Outlook
  • RPPL: Strong Q2 Led by Volume Growth and Margin Normalization

Insolation Energy Ltd- Forensic Analysis

By Nitin Mangal

  • Insolation Energy (INA IN), originated from Jaipur, Rajasthan has been a beneficiary of the heavy solar tailwinds in the last two years and has been involved in major capex phase.  
  • The company has received big contracts such as the MoU with government to the tune of INR 100 bn in spite of having net worth of only INR 1.1 bn.
  • As far as forensics is concerned, we notice several irregularities such as low capitalisations, misclassification of OCF, EPS, naïve accounting of investments, forex movements, strange movements in margins, etc.

[US Crude Oil Options Weekly 2024/51] WTI Futures Fall on Weak China Data and Fed Hawkishness

By Suhas Reddy

  • WTI futures fell 2.6% for the week ending 20/Dec, pressured by weak economic data, a robust dollar, and the Fed’s hawkish outlook on rate cuts in 2025.  
  • WTI options Put/Call volume ratio fell to 0.95 from 1.15 (13/Dec) last week, as call volume dropped by 52.5% WoW while put volume decreased by 60.8%.   
  • WTI OI PCR rose to 0.87 from 0.85 last week. Call OI fell by 18.5% WoW, while put OI declined by 16.3%. 

Vietnam Rubber Group (VRG) Showcases Its EUDR Preparedness At Annual Rubber Conference

By Vinod Nedumudy

  • 40-45% of production forest areas in Vietnam certified for sustainable  management 
  • VRG sold over 800 tons EUDR rubber netting an additional US$250/ton
  • Member firms abroad readying to sign contracts on EUDR rubber

[US Nat Gas Options Weekly 2024/51] Henry Hub Surged for the Second Week on Robust Demand Outlook

By Suhas Reddy

  • US natural gas prices surged by 14.3% for the week ending 20/Dec, driven by rising LNG exports, favourable long-term weather forecasts, and stronger-than-expected declines in natural gas stockpiles.
  • Henry Hub Put/Call volume ratio fell sharply to 0.60 from 1.10 (13/Dec) the previous week as call volumes surged by 228.8% WoW, while put volumes increased by 77.6%. 
  • Henry Hub OI PCR inched up to 0.84 from 0.83 compared to last week. Call OI rose by 5.3% WoW, while put OI increased by 6.0%.

RPPL: Strong Q2 Led by Volume Growth and Margin Normalization

By Ankit Agrawal, CFA

  • Q2FY25 performance was strong led by volume growth and margin improvement. Q2FY25 revenue grew 31% YoY and 12%+ QoQ. Volumes grew 24.6% YoY (9.5% QoQ) led by strong demand environment.
  • Margins have now normalized as raw material prices have stabilized. EBITDA margin improved to 14.9% vs 14.7% QoQ and 13.5% YoY. PAT margin grew to 5.8% vs 3.2% YoY.
  • RPPL’s value-added segments like barrier packaging and injection molding are growing rapidly. Exports are also steady at INR 10cr+ per quarter and have a strong order pipeline.

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Dec 25
0

Daily Brief Industrials: Minieye Technology, Samsung C&T, FedEx Corp, Cintas Corp and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Minieye Technology IPO: Valuation Multiples Appear Justified Given Top-Line Growth of 30%+
  • Change in Regulation of Treasury Shares Allocation Post Spinoffs Starting January 2025
  • FedEx’s $30 Billion Spin-Off: A Game-Changer for Freight and Shareholders? – Major Drivers
  • Cintas Corporation: Customer Base Expansion through No Program Accounts As A Critical Factor Driving Growth! – Major Drivers

Minieye Technology IPO: Valuation Multiples Appear Justified Given Top-Line Growth of 30%+

By Andrei Zakharov

  • Minieye Technology, a fast-growing provider of intelligent driving and cabin solutions in China, will price its IPO this week.
  • The company was backed by CICC Capital, Beijing Siwei, Shenzhen Zeyi, and Mr. Wu Yongming, the current CEO of Alibaba, among others.
  • IPO valuation multiples appear justified given the company’s top-line growth of 30%+ and full-stack in-house R&D capabilities.

Change in Regulation of Treasury Shares Allocation Post Spinoffs Starting January 2025

By Douglas Kim

  • Starting January 2025, there will be a major change in the regulation regarding the use of treasury shares during a company spinoff process.
  • The main change involves the practice of allocating newly issued shares to existing treasury shares held by companies during corporate spinoffs. 
  • This practice will now be banned which should help to reduce the wrongful use of treasury shares and improve minority shareholders’ rights. 

FedEx’s $30 Billion Spin-Off: A Game-Changer for Freight and Shareholders? – Major Drivers

By Baptista Research

  • FedEx Corporation is embarking on a transformative journey with its announcement to spin off FedEx Freight into a standalone publicly traded company within the next 18 months.
  • The move, estimated to unlock over $30 billion in value, aims to streamline FedEx’s core operations and capitalize on the rising valuations of standalone trucking companies.
  • The spinoff is seen as a strategic step to enhance focus, competitiveness, and shareholder value.

Cintas Corporation: Customer Base Expansion through No Program Accounts As A Critical Factor Driving Growth! – Major Drivers

By Baptista Research

  • Cintas Corporation recently released its fiscal 2025 second-quarter results, highlighting strong financial performance but facing some challenges.
  • The company experienced robust demand for its diverse service offerings, contributing to a 7.8% increase in total revenue, reaching $2.56 billion.
  • The organic growth rate, adjusted for acquisitions and currency impacts, stood at 7.1%.

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Dec 25
0

Daily Brief TMT/Internet: NVIDIA Corp, BP PLC, Jabil Circuit, BlackBerry Ltd, Micron Technology, Factset Research Systems Inc, Paychex Inc and more

By | Daily Briefs, TMT/Internet

In today’s briefing:

  • Nvidia (NVDA.US): To Establish Offshore Headquarter in Taiwan.
  • Tech Supply Chain Tracker (25-Dec-2024): Japanese IDMs’ global investment plans.
  • Jabil Inc.: Can Its AI and Data Cloud Expansion Give Them A Competitive Edge? – Major Drivers
  • BlackBerry’s IoT Boom: Can It Outpace Challenges in Cybersecurity? – Major Drivers
  • Micron Bets Big on AI Chips Amid Sluggish Smartphone and PC Sales But Will It Work? – Major Drivers
  • FactSet Research System: Its Monetization of Gen AI Products Could Be A Multi-Faceted Growth Opportunity? – Major Drivers
  • Paychex Inc.: These Are The 7 Biggest Factors Impacting Its Performance In 2025 & Beyond! – Major Drivers

Nvidia (NVDA.US): To Establish Offshore Headquarter in Taiwan.

By Patrick Liao

  • NVIDIA Corp (NVDA US) CEO Mr. Jensen Huang announced plans to establish an offshore headquarters in Taipei during his visit this June.
  • From a geopolitical perspective, Taiwan is one of the focal points where the U.S. and China could potentially be in conflict. 
  • Focusing on AI, NVIDIA Corp (NVDA US) is currently attracting significant attention, but the decision to establish an offshore headquarters in Taipei is raising curiosity.

Tech Supply Chain Tracker (25-Dec-2024): Japanese IDMs’ global investment plans.

By Tech Supply Chain Tracker

  • Japanese IDMs are increasing global investments, while the US keeps a close eye on China’s chip industry to adjust supply chains.
  • Compal Electronics introduces a new liquid cooling solution for effective cooling of electronic devices.
  • Google enhances AI visual generation with Veo 2, Imagen 3, and Whisk, while Innolux focuses on FOPLP and Lam boosts fab efficiency with collaborative robots.

Jabil Inc.: Can Its AI and Data Cloud Expansion Give Them A Competitive Edge? – Major Drivers

By Baptista Research

  • Jabil Inc. entered the first quarter of its fiscal year 2025 with a relatively solid performance, as evidenced by its reported revenues and continued efforts in restructuring its business model.
  • The company reported $7 billion in revenue for the quarter, representing a 1% increase when excluding the impact of a prior-year divestiture in the Mobility segment.
  • Core operating income was $347 million, with a margin holding steady at 5%, despite a modest impact from recent hurricanes.

BlackBerry’s IoT Boom: Can It Outpace Challenges in Cybersecurity? – Major Drivers

By Baptista Research

  • BlackBerry’s third-quarter fiscal results delivered a mix of optimism and caution as the company reported stronger-than-expected profitability, positive cash flow, and notable progress in its strategic transformation.
  • The stock surged 20% to $3.59, marking its highest close since May, as investors reacted to the earnings beat despite a downward revision in the fiscal-year guidance.
  • The quarter saw BlackBerry posting an adjusted profit of 2 cents per share, surpassing analysts’ expectations of a 1-cent loss.

Micron Bets Big on AI Chips Amid Sluggish Smartphone and PC Sales But Will It Work? – Major Drivers

By Baptista Research

  • Micron Technology Inc., a key player in the computer-memory chip industry, has faced significant headwinds, as evidenced by its recent revenue forecast, which missed analyst expectations.
  • The company projected fiscal second-quarter revenue of $7.9 billion, far below the average estimate of $8.99 billion, while profit forecasts also lagged significantly.
  • These results reflect sluggish demand in its largest markets—smartphones and personal computers—despite a notable surge in data center-related revenue and strong orders for artificial intelligence (AI) components.

FactSet Research System: Its Monetization of Gen AI Products Could Be A Multi-Faceted Growth Opportunity? – Major Drivers

By Baptista Research

  • FactSet delivered a mixed set of results for its first fiscal quarter of 2025, showcasing positives in operating performance amid a backdrop of economic uncertainties and industry-specific challenges.
  • The company reported 4.5% growth in organic Annual Subscription Value (ASV) year-over-year, supported by favorable developments in its wealth management segment and a 7% growth in the Asia-Pacific region.
  • FactSet’s adjusted operating margin stood at 37.6%, and adjusted diluted earnings per share (EPS) reached $4.37.

Paychex Inc.: These Are The 7 Biggest Factors Impacting Its Performance In 2025 & Beyond! – Major Drivers

By Baptista Research

  • Paychex’s recent earnings presentation shows a nuanced business performance with both strengths and challenges to consider.
  • The company reported a 5% increase in total revenue, excluding the expiration of the Employee Retention Tax Credit (ERTC) program, which stands against a 7% revenue growth when adjusted for the ERTC’s effects.
  • The company’s management solutions and PEO (Professional Employer Organization) and insurance solutions have been central to its growth narrative, with corresponding 3% and 7% revenue increases, respectively.

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Dec 25
0

Daily Brief Consumer: Hyundai Motor , Matsuya Co Ltd, Darden Restaurants, Carmax Inc, Lamb Weston Holdings, General Mills, Conagra Foods and more

By | Consumer, Daily Briefs

In today’s briefing:

  • Korea FSC Official: New Rule to Block “Treasury Stock Magic” Takes Effect on 31st
  • Matsuya Targets ¥20 Billion Online
  • Darden’s Uber Partnership and Steakhouse Boom: Why Its Stock Is Holding Strong Despite Dropping Sales! – Major Drivers
  • CarMax Inc.: Digital Transformation & Omnichannel Experience As A Critical Growth Lever! – Major Drivers
  • Lamb Weston Holdings Inc.: Expanded Customer Base & Volume Growth Driving Our Bullishness! – Major Drivers
  • Why General Mills’ Snacks and Cereal Are Unstoppable Despite Market Shifts! – Major Drivers
  • Conagra Brands: Leveraging the Growth Potential in Frozen Foods to Set New Standards! – Major Drivers

Korea FSC Official: New Rule to Block “Treasury Stock Magic” Takes Effect on 31st

By Sanghyun Park

  • Korea FSC announced on the 24th that the updated Capital Markets Act rules, approved by the Cabinet, will take effect on the 31st.
  • Banning new shares to treasury stocks during spin-offs could shift board focus in Korea, reducing big shareholder influence and prioritizing the broader shareholder base.
  • The capital markets law change could shift shareholder returns from buybacks to dividends, marking a key inflection point for traders, especially in Korea’s preferred stock market.

Matsuya Targets ¥20 Billion Online

By Michael Causton

  • Department store sales to locals plummeted in October, resulting in the first decline in 32 months.
  • While sluggish clothing sales was one factor, another was crowded luxury concessions putting off locals from visiting.
  • Matsuya thinks it has the answer: keeping locals and tourists separate using a new online store.

Darden’s Uber Partnership and Steakhouse Boom: Why Its Stock Is Holding Strong Despite Dropping Sales! – Major Drivers

By Baptista Research

  • Darden Restaurants recently delivered mixed financial results for its first fiscal quarter, marked by an earnings miss and a drop in same-store sales but bolstered by news of a promising partnership with Uber Technologies.
  • The company reported adjusted earnings of $1.75 per share, slightly below analysts’ estimates of $1.83, and revenue of $2.76 billion, missing the consensus forecast of $2.8 billion.
  • While total revenue improved year-over year due to acquisitions such as Tex-Mex chain Chuy’s for $605 million, same-store sales fell 1.1%, signaling challenges in attracting diners.

CarMax Inc.: Digital Transformation & Omnichannel Experience As A Critical Growth Lever! – Major Drivers

By Baptista Research

  • CarMax, Inc., a prominent player in the used car retail market, reported a notably positive performance in its third quarter fiscal year 2025 results, reflecting the strength of its diversified business model.
  • Retail, wholesale, and the CarMax Auto Finance (CAF) segments all posted year-over-year growth, contributing to a robust increase in earnings per share.
  • The improved performance was driven by a combination of internal execution and favorable external conditions, such as a more stable environment for vehicle valuations.

Lamb Weston Holdings Inc.: Expanded Customer Base & Volume Growth Driving Our Bullishness! – Major Drivers

By Baptista Research

  • Lamb Weston reported financial results for the second quarter of fiscal year 2025, which fell short of expectations amidst challenging operating conditions.
  • The company experienced an 8% decline in net sales compared to the same period last year, driven primarily by a 6% reduction in volume due to declining restaurant traffic both domestically and internationally.
  • In the backdrop of a competitive environment, Lamb Weston faced incremental customer share losses and exit from lower-margin business in EMEA, further impacting sales and volume negatively.

Why General Mills’ Snacks and Cereal Are Unstoppable Despite Market Shifts! – Major Drivers

By Baptista Research

  • General Mills has shown a keen focus on accelerating its organic sales growth, particularly through targeting volume growth.
  • Leadership has prioritized enhancing market competitiveness by employing a “remarkable experience framework” to broaden its market share.
  • There are positive trends in consumer engagement with core brands, bolstered by increased investment in product innovation, brand building, and promotional activities.

Conagra Brands: Leveraging the Growth Potential in Frozen Foods to Set New Standards! – Major Drivers

By Baptista Research

  • Conagra Brands’ earnings report for the second quarter and first half of fiscal 2025 reflects a mixed performance, characterized by both positive operational strides and challenges from external factors.
  • The company’s revenues in the period have been consistent, with shipments increasing by 1% and consumption rising by 0.6%, indicating strong alignment between production and sales.
  • There was no significant impact from Thanksgiving timing on these figures, which is typically a consideration for companies with similar fiscal calendars.

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Dec 25
0

Daily Brief Financials: Suntec REIT, Affirm Holdings , Bitcoin, Kolte Patil Developers and more

By | Daily Briefs, Financials

In today’s briefing:

  • Suntec REIT (SUN SP): Tang’s Offer Now Open
  • Affirm Holdings Inc.: Dealing With Funding Strategy Vulnerabilities & 4 Other Challenges! – Major Drivers
  • Crypto Crisp: What’s with the U.S. Fed?
  • Kolte Patil: On Track as Per FY25 Guidance

Suntec REIT (SUN SP): Tang’s Offer Now Open

By David Blennerhassett

  • On the 5th December, Gordan Tang (& his wife Celine) acquired 2.14% in Suntec REIT (SUN SP), lifting their stake to 31.45% from 29.31%, triggering a MGO.
  • This is appears to be a technical Offer. The Offer price is S$1.16/share against a S$1.17/share undisturbed price. Timing, however, IS curious after ESR Group (1821 HK)‘s recent Offer.
  • The Offer Doc is now out and shareholders can tender. At S$1.18/share as I type, zero tendering should occur. The Offer closes on the 20 January, unless extended.

Affirm Holdings Inc.: Dealing With Funding Strategy Vulnerabilities & 4 Other Challenges! – Major Drivers

By Baptista Research

  • Affirm Holdings, Inc. recently provided an update on its fiscal first-quarter performance for 2025, sharing various insights regarding its current operations and strategic direction.
  • Throughout the session led by Founder and CEO Max Levchin, as well as other key executives, the company highlighted strong financial metrics, ongoing initiatives, and future considerations, all of which culminated in both opportunities and challenges for investors assessing its market potentials and risks.
  • 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.

Crypto Crisp: What’s with the U.S. Fed?

By Mads Eberhardt

  • The past week was notably eventful, marked by the U.S. Federal Reserve (Fed) cutting interest rates for the U.S. Dollar by 25 basis points.
  • However, the Fed struck a hawkish tone for the coming year, signaling fewer interest rate cuts than the market had anticipated.
  • This shift unsettled investors, with the crypto market bearing the brunt of the reaction.

Kolte Patil: On Track as Per FY25 Guidance

By Ankit Agrawal, CFA

  • Kolte Patil reported a decent Q2FY25 with highest ever quarterly pre-sales of INR 770cr, a growth of 22% YoY. Pre-sales volume corresponding to this was 1.03 MSF (Million Square Feet).
  • Notably, demand for premium projects has been strong. For H1FY25, 30% of pre-sales has come from 24K luxury segment. This compares to 12% in FY22.
  • Year-To-Date, new launch activity has been decent with the launch of 2.2 MSF of saleable area. This includes Kolte Patil’s entry in Navi Mumbai with a project launch in Vashi. 

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Dec 25
0

Daily Brief Health Care: Pro Medicus Ltd and more

By | Daily Briefs, Healthcare

In today’s briefing:

  • Pro Medicus Ltd (PME AU): Strong FY24 Result; Starts FY25 With Record Breaking Contract Win

Pro Medicus Ltd (PME AU): Strong FY24 Result; Starts FY25 With Record Breaking Contract Win

By Tina Banerjee

  • Pro Medicus Ltd (PME AU) reported strong performance in FY24, with revenue increasing 29% YoY to A$162M. Net profit grew at a faster pace of 37% YoY to A$83M.
  • At the end of FY24, full contracted revenue increased to A$624M over the next five years from A$468M in FY23, laying the foundation for continued growth in FY25 and beyond.
  • In November, PME signed a A$330M, 10-year contract with Trinity Health. The contract is the largest ever for Pro Medicus and Trinity is the first customer with a national footprint.

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