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Smartkarma Daily Briefs

Oct 19
0

Daily Brief Event-Driven: China Traditional Chinese Medicine (570 HK): Disaster as Offer Lapses and more

By | Daily Briefs, Event-Driven

In today’s briefing:

  • China Traditional Chinese Medicine (570 HK): Disaster as Offer Lapses, Potential Deal Break Price
  • Thematic Report : Investment Opportunities in Indian Markets Led by Promoter Buying
  • Need a Game Plan to Tackle Korea Zinc’s Buyback Tender with a 20% Proration Risk
  • ABC/TI Fluid Systems: 10% Gross Spread on a Highly Likely Deal
  • Align Partners Goes Activist on Doosan Bobcat
  • EQD | Upcoming ASX200 Pullback in 1-2 Weeks

China Traditional Chinese Medicine (570 HK): Disaster as Offer Lapses, Potential Deal Break Price

By Arun George

  • Shockingly, the Sinopharm-led consortium’s offer for China Traditional Chinese Medicine (570 HK) has lapsed as the precondition long stop date has not been extended.
  • This deal break caught many, including me, off guard. There are lessons to be learnt and questions to be asked. 
  • Shareholders will have a bruising Monday. Our analysis suggests a deal break price of around HK$3.44, a 10% downside to the last close.

Thematic Report : Investment Opportunities in Indian Markets Led by Promoter Buying

By Nimish Maheshwari

  • In the overheated Indian markets where selling spree by promoters is going at record pace.
  • We identified certain interesting companies where promoters are buying giving confidence in their business
  • We further delve into the thesis and key triggers for these companies

Need a Game Plan to Tackle Korea Zinc’s Buyback Tender with a 20% Proration Risk

By Sanghyun Park

  • NPS is now viewing their voting rights on Korea Zinc purely from a returns angle, shifting from earlier expectations of siding with Choi due to political pressure.
  • We need a tendering strategy for a 20% proration risk, focusing on when MBK will buy that extra 3.7% stake to cut losses on untendered shares.
  • MBK will aim to buy leftover shares cheaply. Their approach depends on the progress of Choi and Trafigura’s talks

ABC/TI Fluid Systems: 10% Gross Spread on a Highly Likely Deal

By Jesus Rodriguez Aguilar

  • TI Fluid Systems (TIFS LN) is trading at 10% gross spread to ABC (Apollo)’s Proposal, which the Board of TIFS would be minded to recommend if made firm.
  • Although TIFS has made notable strategic progress recently, and maintained margins despite tough conditions over the last years, the short-term car picture has gotten progressively worse.
  • 200p implies 4.6x EV/NTM EBITDA versus global auto suppliers trading on a median of 4.4x and represents a good-value exit. I believe the deal will complete. Long.

Align Partners Goes Activist on Doosan Bobcat

By Douglas Kim

  • On 18 October, a local activist fund Align Partners Asset Management started its “corporate activism” on Doosan Bobcat Inc (241560 KS).
  • Align Partners sent a shareholder proposal letter requesting a significant increase in the shareholder return rate, including dividends and selling off non-core assets. 
  • We believe that Align Partners’ corporate activism on Doosan Bobcat is likely to have a positive impact on Doosan Bobcat’s share price.

EQD | Upcoming ASX200 Pullback in 1-2 Weeks

By Nico Rosti

  • This week the S&P/ASX 200 INDEX entered WEEKLY OVERBOUGHT status intra-week, peaking at 8384.50, then pulling back to 8283.20 at Close.
  • In this insight we will examine resistance levels the index will have a hard time to clear, without pulling back first at least 1 week.
  • According to our quantitative models, a pullback is highly likely to happen this week, or the next.

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Oct 19
0

Daily Brief Credit: Morning Views Asia: Lippo Karawaci and more

By | Credit, Daily Briefs

In today’s briefing:

  • Morning Views Asia: Lippo Karawaci
  • Weekly Wrap – 18 Oct 2024

Morning Views Asia: Lippo Karawaci

By Leonard Law, CFA

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

Weekly Wrap – 18 Oct 2024

By Felix Fischer

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.

In this Insight:

  1. Vedanta Resources
  2. Longfor Properties
  3. Anton Oilfield
  4. Adani Green Energy
  5. Reliance Industries

and more…

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Oct 19
0

Daily Brief Equity Bottom-Up: TSMC: Trading as if Valuations Don’t Matter and more

By | Daily Briefs, Equity Bottom-Up

In today’s briefing:

  • TSMC: Trading as if Valuations Don’t Matter
  • Tech News This Week. ASML, TSMC, Intel, SiC Capacity, MCU in China
  • TSMC Shares Surge 11% as Q3 Earnings Soar on AI Demand, Revenue Up 39% YoY
  • Taiwan Tech Weekly: IPhone 16 Sales Surge in China; Samsung’s Strength Diluted Against TSMC’s Focus
  • Bangkok Bank – BBL Sees 29% Higher NPLs YTD and Core Manufacturing & Commercial Loans -4% YTD
  • Tech Supply Chain Tracker (19-Oct-2024): ATE Energy boosts green energy & marine projects in PH.
  • TEGNA Inc.: Leveraging Advanced Advertising Platforms & Focus on Premion! – Major Drivers
  • Dana Inc. – The Latest Acquisition Target Heating Up Wall Street!
  • Five9 Inc.: An Insight Into Its Competitive Advantage & Go-To-Market Strategy! – Major Drivers
  • Accenture plc: How Is Its Approach Towards Strategic Bolt-On Acquisitions Working Out? – Major Drivers

TSMC: Trading as if Valuations Don’t Matter

By Pyari Menon

  • Shares of Taiwan Semiconductor (TSMC) – ADR (TSM US) surged on a robust results and raised revenue outlook, driven by strength in AI related demand.
  • Markets are overlooking the fact that many AI companies and solutions are unnecessary, unsustainable and will lead to blowups and consolidation.
  • We make the case for why TSMC is over valued and investors will likely get better entry levels.

Tech News This Week. ASML, TSMC, Intel, SiC Capacity, MCU in China

By Nicolas Baratte

  • The price of ASML EUV machine is increasing as thruput (wafer / hour) is increasing. 
  • TSMC 3nm is fully booked in 2025. Here is the list of clients / chips. 
  • SiC and MCU over-investments in China? Very likely. China is limiting SiC investments. 

TSMC Shares Surge 11% as Q3 Earnings Soar on AI Demand, Revenue Up 39% YoY

By Uttkarsh Kohli

  • TSMC reported Q3 revenue of NT$759.69 billion, marking a 39% year-over-year increase, surpassing the guidance range of NT$724-750 billion, driven by strong AI demand.
  • The company’s net income reached NT$325.3 billion, up 54% from last year and exceeding LSEG’s estimate of NT$300.2 billion, reflecting strong operational performance.
  • TSMC’s gross margin improved to 57.8%, an increase of 4.6% from Q2, highlighting enhanced profitability from advanced chip production amid growing AI applications.

Taiwan Tech Weekly: IPhone 16 Sales Surge in China; Samsung’s Strength Diluted Against TSMC’s Focus

By Vincent Fernando, CFA

  • Hua-Where? Hua-Who? Report: Apple’s iPhone 16 Pro & Pro Max Sales Surge 44% in China; A Strong Start Amidst Competition
  • Samsung Under Siege: Facing Major Challenges Across Verticals as TSMC Tightens Foundry Grip
  • TSMC 3Q24: Guidance Remains Strong; Explains Why AI Demand Not Overhyped; Stay Long… TSMC is Working with All AI Innovators

Bangkok Bank – BBL Sees 29% Higher NPLs YTD and Core Manufacturing & Commercial Loans -4% YTD

By Daniel Tabbush

  • Where there are many other areas of interest in Asia, globally, the figures just out for Bangkok Bank are incredible to us, not in a positive way.
  • The bank has seen its NPLs rise from THB71bn to THB85bn to THB92bn from 4Q23 to 2Q24 to 3Q24, putting YTD growth at 29%
  • The bank has more than 1/4 of its loans in manufacturing & commercial where loan balances are down 4.0% YTD and down 4.3% QoQ

Tech Supply Chain Tracker (19-Oct-2024): ATE Energy boosts green energy & marine projects in PH.

By Tech Supply Chain Tracker

  • ATE Energy is leading green energy and marine projects in the Philippines to support sustainability efforts and protect the environment. Taiwan is seeking to import green energy from the Philippines to meet its goal of achieving net-zero emissions by 2050.
  • The US faces challenges in expanding nuclear power as part of its efforts to reach net-zero emissions targets. Japan and Taiwan are teaming up to produce the Lean3 EV, promising a compact design and high efficiency for urban areas.
  • The new iPad mini features advanced Apple Intelligence technology with four major upgrades for top-tier performance and functionality. Joo-Sun Choi is returning to Samsung’s DS division after a successful term as SDC president. Taiwan is focusing on low-carbon power to drive industrial growth, while ESL adoption is on the rise with retailers like Simple Mart Taiwan and Walmart leading the way in a retail revolution for lower prices.

TEGNA Inc.: Leveraging Advanced Advertising Platforms & Focus on Premion! – Major Drivers

By Baptista Research

  • TEGNA Inc. reported their Q2 2024 financial results, reflecting a mix of challenges and opportunities which present a balanced view for potential investors.
  • In this earnings review, a detailed assessment of the company’s performance and strategic initiatives provides insights into its emerging trends and operational focus.
  • During the quarter, TEGNA noted a decline in total company revenue compared to the previous year, which primarily stemmed from decreases in subscriber counts and national advertising revenues.

Dana Inc. – The Latest Acquisition Target Heating Up Wall Street!

By Baptista Research

  • In a notable development, Dana Incorporated (NYSE:DAN) has recently emerged as a potential acquisition target, sparking rumors across Wall Street.
  • The company’s stock rose by 0.5%, following reports of takeover interest as mentioned in a Betaville “uncooked” alert.
  • The timing of this speculation coincides with a strong earnings performance for Q2 2024, where Dana posted $2.7 billion in sales and a solid $244 million in adjusted EBITDA.

Five9 Inc.: An Insight Into Its Competitive Advantage & Go-To-Market Strategy! – Major Drivers

By Baptista Research

  • In the latest earnings discussion of Five9, Chairman and CEO Mike Burkland relayed a mixed set of results, presenting a blend of successes and challenges.
  • The company achieved an annual revenue run rate exceeding $1 billion, primarily driven by a 21% year-over-year growth in LTM Enterprise subscription revenue.
  • Alongside, the adjusted EBITDA margin improved sequentially to 17% of revenue, contributing robustly to a strong LTM operating cash flow of $126 million, which is 13% of revenue.

Accenture plc: How Is Its Approach Towards Strategic Bolt-On Acquisitions Working Out? – Major Drivers

By Baptista Research

  • Accenture recently reported its fourth quarter result for fiscal 2024, showcasing a mixture of strengths and setbacks.
  • As a multinational professional services company known for its capabilities in digital, cloud, and security, Accenture’s continued focus on embracing technological transformations, particularly Generative AI (GenAI), and adapting to market demands are pivotal points observed from the earnings report.
  • 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.

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Oct 19
0

Daily Brief Macro: HK/China: DOOM AND GLOOM? DON’T GET FOOLED AGAIN and more

By | Daily Briefs, Macro

In today’s briefing:

  • HK/China: DOOM AND GLOOM? DON’T GET FOOLED AGAIN
  • Market Commentary Snapshot: Delaying EUDR Likely To Bring Supply Glut Back
  • [ETP 2024/42] WTI Falls as Supply Disruption Fears Subside, Nat-Gas Slides on Weaker Demand Outlook
  • China September GDP Rotates Higher
  • Regional Economics: Can Asian Economies Innovate?
  • HEW: European Doves Are Too Stretched
  • Heard From Fortress Hill: Weekly Market Observations (18 Oct 2024)
  • Chile: 25bp Rate Cut To 5.25% (consensus 5.25%) in Oct-24

HK/China: DOOM AND GLOOM? DON’T GET FOOLED AGAIN

By David Mudd

  • As HK/China markets complete their retracements after the best rally in more than a decade, the exaggerated pessimism from the media and analysts returns.
  • The government continues to roll out measures to relieve the pressure on the property market in what is a multi-year process with no quick fix.
  • Even after a historic rally, the HSI still trades at a significant valuation discount which will narrow in the coming months.

Market Commentary Snapshot: Delaying EUDR Likely To Bring Supply Glut Back

By Arusha Das

  • Requests for retraction in contracts by buyers 
  • Oversupply of spot cargoes feeds pessimistic expectations

[ETP 2024/42] WTI Falls as Supply Disruption Fears Subside, Nat-Gas Slides on Weaker Demand Outlook

By Suhas Reddy

  • For the week ending 11/Oct, US crude inventories decreased by 2.2m barrels, diverging from expectations of a 1.8m barrel build. Additionally, gasoline and distillate stockpiles also declined more than anticipated.
  • US natural gas inventories rose 76 Bcf for the week ending 11/Oct, lower than analyst expectations of an 80 Bcf buildup. Inventories are 4.6% above the 5-year seasonal average.
  • Halliburton, Schlumberger, and Occidental’s target prices were cut. Notably, analysts kept their Buy ratings on Reliance despite its net profit falling by 4.8% YoY.

China September GDP Rotates Higher

By Alex Ng

  • Q3 GDP and September figures were slightly better. With a speed up of government spending in Q4 , we change our 2024 GDP forecast to 4.8% from 4.6%. 
  • However, despite a further Yuan1.5-2.0trn of fiscal stimulus to come, we still see 4.5% 2025 GDP.  
  • Stimulus is not focused on the consumer, while the residential housing market has not bottomed in construction or sales terms.  

Regional Economics: Can Asian Economies Innovate?

By Manu Bhaskaran

  • The latest Global Innovation Index shows that Asian economies are not yet fully reaping the benefits of innovation-led growth. 
  • Despite their strong performance in the overall rankings, Asian economies, including frontrunner Singapore, underperform in translating their considerable input investments into tangible outputs. 
  • As the conventional growth drivers of trade, demographics, and physical capital start running out of steam, Asian economies need to catch up to the innovation frontier to promote future growth. 

HEW: European Doves Are Too Stretched

By Phil Rush

  • A consecutive ECB rate cut and the UK’s unexpected disinflation have led to an extension in dovish pricing, which appears stretched both in absolute terms and relative to the US. Despite this, Europe’s resilient labour markets continue to influence medium-term inflation.
  • The Bank of Canada is predicted to implement a 50bp cut next week, following the Fed’s lead in the primary policy event.
  • Flash PMIs, set to be released on Thursday, are considered the most significant data release, particularly due to the stark contrast between US highs and Euro area lows.

Heard From Fortress Hill: Weekly Market Observations (18 Oct 2024)

By Alex Ng

  • HSI declined sharply in the beginning of the week and recoup half of the losses towards end-week.
  • S&P500 rose by 1.15% and broke new record. Dow-jones also broke record high
  • On the whole we hold the same portfolio throughout the week, loosing in the beginning and gaining back in the end of the week.

Chile: 25bp Rate Cut To 5.25% (consensus 5.25%) in Oct-24

By Heteronomics AI

  • The Central Bank of Chile reduced the policy rate by 25 basis points to 5.25%, in line with market expectations, reflecting a cautious approach to inflation management amid global volatility.
  • External factors, including the Federal Reserve’s rate cuts and China’s stimulus measures, have contributed to higher long-term interest rates and a stronger US dollar, exerting downward pressure on the Chilean peso.
  • Future rate cuts are likely, but their pace will depend on domestic inflation trends, global economic developments, and the central bank’s assessment of financial stability risks.
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

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Oct 19
0

Daily Brief Australia: S&P/ASX 200 and more

By | Australia, Daily Briefs

In today’s briefing:

  • EQD | Upcoming ASX200 Pullback in 1-2 Weeks

EQD | Upcoming ASX200 Pullback in 1-2 Weeks

By Nico Rosti

  • This week the S&P/ASX 200 INDEX entered WEEKLY OVERBOUGHT status intra-week, peaking at 8384.50, then pulling back to 8283.20 at Close.
  • In this insight we will examine resistance levels the index will have a hard time to clear, without pulling back first at least 1 week.
  • According to our quantitative models, a pullback is highly likely to happen this week, or the next.

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Oct 19
0

Daily Brief Thailand: Bangkok Bank Public and more

By | Daily Briefs, Thailand

In today’s briefing:

  • Bangkok Bank – BBL Sees 29% Higher NPLs YTD and Core Manufacturing & Commercial Loans -4% YTD

Bangkok Bank – BBL Sees 29% Higher NPLs YTD and Core Manufacturing & Commercial Loans -4% YTD

By Daniel Tabbush

  • Where there are many other areas of interest in Asia, globally, the figures just out for Bangkok Bank are incredible to us, not in a positive way.
  • The bank has seen its NPLs rise from THB71bn to THB85bn to THB92bn from 4Q23 to 2Q24 to 3Q24, putting YTD growth at 29%
  • The bank has more than 1/4 of its loans in manufacturing & commercial where loan balances are down 4.0% YTD and down 4.3% QoQ

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Oct 19
0

Daily Brief South Korea: K Bank, Korea Zinc, Doosan Bobcat Inc and more

By | Daily Briefs, South Korea

In today’s briefing:

  • K-Bank’s IPO Cancellation: What Led to This Move and Plan for a Comeback
  • Need a Game Plan to Tackle Korea Zinc’s Buyback Tender with a 20% Proration Risk
  • Align Partners Goes Activist on Doosan Bobcat

K-Bank’s IPO Cancellation: What Led to This Move and Plan for a Comeback

By Sanghyun Park

  • The institutional demand forecasts were much worse than expected, leading to the company’s blunt admission in the latest filing that the book-building flopped, prompting them to cancel the IPO.
  • Bankers NH and KB suggested an offering price below 8,500 KRW, but pre-IPO backers like Bain Capital and MBK strongly opposed, unhappy with shrinking proceeds, pushing for cancellation.
  • K-Bank plans to regroup and adjust the heavy 50% secondary share portion to retry the IPO in six months before their prelim review window expires.

Need a Game Plan to Tackle Korea Zinc’s Buyback Tender with a 20% Proration Risk

By Sanghyun Park

  • NPS is now viewing their voting rights on Korea Zinc purely from a returns angle, shifting from earlier expectations of siding with Choi due to political pressure.
  • We need a tendering strategy for a 20% proration risk, focusing on when MBK will buy that extra 3.7% stake to cut losses on untendered shares.
  • MBK will aim to buy leftover shares cheaply. Their approach depends on the progress of Choi and Trafigura’s talks

Align Partners Goes Activist on Doosan Bobcat

By Douglas Kim

  • On 18 October, a local activist fund Align Partners Asset Management started its “corporate activism” on Doosan Bobcat Inc (241560 KS).
  • Align Partners sent a shareholder proposal letter requesting a significant increase in the shareholder return rate, including dividends and selling off non-core assets. 
  • We believe that Align Partners’ corporate activism on Doosan Bobcat is likely to have a positive impact on Doosan Bobcat’s share price.

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Oct 19
0

Daily Brief Singapore: SGX Rubber Future TSR20 and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Market Commentary Snapshot: Delaying EUDR Likely To Bring Supply Glut Back

Market Commentary Snapshot: Delaying EUDR Likely To Bring Supply Glut Back

By Arusha Das

  • Requests for retraction in contracts by buyers 
  • Oversupply of spot cargoes feeds pessimistic expectations

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Oct 19
0

Daily Brief Indonesia: Lippo Karawaci, SGX Rubber Future TSR20, Criterium Energy and more

By | Daily Briefs, Indonesia

In today’s briefing:

  • Morning Views Asia: Lippo Karawaci
  • Market Commentary Snapshot: Delaying EUDR Likely To Bring Supply Glut Back
  • Weekly Wrap – 18 Oct 2024
  • Criterium Energy Ltd (TSX-V: CEQ): Encouraging drilling results. Decreasing opex

Morning Views Asia: Lippo Karawaci

By Leonard Law, CFA

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

Market Commentary Snapshot: Delaying EUDR Likely To Bring Supply Glut Back

By Arusha Das

  • Requests for retraction in contracts by buyers 
  • Oversupply of spot cargoes feeds pessimistic expectations

Weekly Wrap – 18 Oct 2024

By Felix Fischer

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.

In this Insight:

  1. Vedanta Resources
  2. Longfor Properties
  3. Anton Oilfield
  4. Adani Green Energy
  5. Reliance Industries

and more…

Criterium Energy Ltd (TSX-V: CEQ): Encouraging drilling results. Decreasing opex

By Auctus Advisors

  • • Production to date in October is 950 bbl/d, the same level as reported on 24 September.
  • • The MGH-43 well has encountered 41 m of prospective gross sand intervals with good to excellent oil shows in the main TAF target that will now be perforated.
  • Due to unstable hole conditions in MGH-43, Criterium was unable to conduct pressure testing and resistivity calculations on the zones of interest and therefore could not determine the estimated productivity rates.

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Oct 19
0

Daily Brief United States: Crude Oil, Dana , Tegna Inc, Micron Technology, Five9 Inc, CCC Intelligent Solutions Hold, Constellation Energy , Energy Transfer LP, Expedia Group, Inc., DoubleVerify and more

By | Daily Briefs, United States

In today’s briefing:

  • [ETP 2024/42] WTI Falls as Supply Disruption Fears Subside, Nat-Gas Slides on Weaker Demand Outlook
  • Dana Inc. – The Latest Acquisition Target Heating Up Wall Street!
  • TEGNA Inc.: Leveraging Advanced Advertising Platforms & Focus on Premion! – Major Drivers
  • Micron Technology Inc.: Tackling The Shifts in Customer Demand & Evolving Market Dynamics! – Major Drivers
  • Five9 Inc.: An Insight Into Its Competitive Advantage & Go-To-Market Strategy! – Major Drivers
  • CCC Intelligent Solutions Holdings: Expansion into Emerging Market Solutions & Launch of Payroll Solution Could Up Their Game! – Major Drivers
  • Constellation Brands Inc.: Strategic Focus On High-End & Diversified Portfolio Can Catapult Their Future Growth? – Major Drivers
  • Energy Transfer LP: Expansion of Energy Transfer’s Export Terminals & Other Major Developments! – Key Drivers
  • Uber Eyeing Expedia! Here’s Why That Could Be a Game-Changing Move
  • DoubleVerify Holdings Inc.: Expanded Cross-Platform Measurement Capabilities & Other Major Drivers

[ETP 2024/42] WTI Falls as Supply Disruption Fears Subside, Nat-Gas Slides on Weaker Demand Outlook

By Suhas Reddy

  • For the week ending 11/Oct, US crude inventories decreased by 2.2m barrels, diverging from expectations of a 1.8m barrel build. Additionally, gasoline and distillate stockpiles also declined more than anticipated.
  • US natural gas inventories rose 76 Bcf for the week ending 11/Oct, lower than analyst expectations of an 80 Bcf buildup. Inventories are 4.6% above the 5-year seasonal average.
  • Halliburton, Schlumberger, and Occidental’s target prices were cut. Notably, analysts kept their Buy ratings on Reliance despite its net profit falling by 4.8% YoY.

Dana Inc. – The Latest Acquisition Target Heating Up Wall Street!

By Baptista Research

  • In a notable development, Dana Incorporated (NYSE:DAN) has recently emerged as a potential acquisition target, sparking rumors across Wall Street.
  • The company’s stock rose by 0.5%, following reports of takeover interest as mentioned in a Betaville “uncooked” alert.
  • The timing of this speculation coincides with a strong earnings performance for Q2 2024, where Dana posted $2.7 billion in sales and a solid $244 million in adjusted EBITDA.

TEGNA Inc.: Leveraging Advanced Advertising Platforms & Focus on Premion! – Major Drivers

By Baptista Research

  • TEGNA Inc. reported their Q2 2024 financial results, reflecting a mix of challenges and opportunities which present a balanced view for potential investors.
  • In this earnings review, a detailed assessment of the company’s performance and strategic initiatives provides insights into its emerging trends and operational focus.
  • During the quarter, TEGNA noted a decline in total company revenue compared to the previous year, which primarily stemmed from decreases in subscriber counts and national advertising revenues.

Micron Technology Inc.: Tackling The Shifts in Customer Demand & Evolving Market Dynamics! – Major Drivers

By Baptista Research

  • Micron Technology’s fiscal fourth quarter 2024 earnings call underscores a period of noteworthy developments and strategic pivots, reflecting both positives and challenges that face the company.
  • The call, led by Sumit Sadana and other executives, provided insights into various aspects including demand trends, inventory levels, operational execution, and financial outlook which are critical for understanding Micron’s trajectory and market dynamics.
  • 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.

Five9 Inc.: An Insight Into Its Competitive Advantage & Go-To-Market Strategy! – Major Drivers

By Baptista Research

  • In the latest earnings discussion of Five9, Chairman and CEO Mike Burkland relayed a mixed set of results, presenting a blend of successes and challenges.
  • The company achieved an annual revenue run rate exceeding $1 billion, primarily driven by a 21% year-over-year growth in LTM Enterprise subscription revenue.
  • Alongside, the adjusted EBITDA margin improved sequentially to 17% of revenue, contributing robustly to a strong LTM operating cash flow of $126 million, which is 13% of revenue.

CCC Intelligent Solutions Holdings: Expansion into Emerging Market Solutions & Launch of Payroll Solution Could Up Their Game! – Major Drivers

By Baptista Research

  • CCC Intelligent Solutions Holdings, Inc. delivered a robust financial performance for the second quarter of fiscal year 2024, primarily driven by new business wins, contract renewals, and expansions.
  • The company reported a 10% year-over-year increase in total revenue, amounting to $233 million, which surpassed the guidance range.
  • Adjusted EBITDA also saw an 18% increase from the previous year, reaching $96 million, also exceeding expectations.

Constellation Brands Inc.: Strategic Focus On High-End & Diversified Portfolio Can Catapult Their Future Growth? – Major Drivers

By Baptista Research

  • Constellation Brands delivered mixed results in its Q2 Fiscal Year 2025 earnings, reflecting resilience amid a challenging macroeconomic environment.
  • The performance of the company’s segments varied, with strong growth in the Beer Business offset by headwinds in the Wine and Spirits division.
  • Starting on a positive note, Constellation Brands’ Beer Business continued its streak as a sector leader, demonstrating robust financial performance with net sales and operating income growing by nearly 6% and 13%, respectively.

Energy Transfer LP: Expansion of Energy Transfer’s Export Terminals & Other Major Developments! – Key Drivers

By Baptista Research

  • Energy Transfer’s Q2 2024 earnings report reveals a company navigating complex operational landscapes with a mixture of robust results and strategic adjustments, providing a broad perspective on its strengths and challenges as it plans forward.
  • The company reported a noticeable rise in their financial and operational metrics indicating vital signs of growth.
  • However, certain segments experienced downturns that could suggest areas requiring attention for future stability and improvement.

Uber Eyeing Expedia! Here’s Why That Could Be a Game-Changing Move

By Baptista Research

  • Uber’s potential acquisition of Expedia has sent shockwaves across the travel and tech industries.
  • The ride-hailing giant has reportedly explored the idea of purchasing the $20 billion U.S. travel booking platform, marking a dramatic shift in its strategy to diversify beyond ride-hailing and food delivery.
  • Speculation suggests that Uber is looking to expand its “super app” ambitions—something akin to the multipurpose apps seen in Chinese tech ecosystems like WeChat.

DoubleVerify Holdings Inc.: Expanded Cross-Platform Measurement Capabilities & Other Major Drivers

By Baptista Research

  • DoubleVerify, a leader in media quality and performance solutions, had a pivotal second quarter in 2024, managing to reaccelerate their revenue growth trajectory, powered by a strong push in social and CTV measurement and ongoing growth in their supply-side platform business, notably driven by the expansive retail media sector.
  • 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.
  • In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

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