Category

Daily Briefs

Aug 27
0

Daily Brief China: Great Wall Motor, Golden Eagle Retail, Neusoft Xikang Healthcare Technology Co Ltd and more

By | China, Daily Briefs

In today’s briefing:

  • Quiddity A/H Premium Monitor 🦄 (As of 25 Aug 2023)
  • Weekly Deals Digest (27 Aug) – Golden Eagle, Costa, Boustead, UMW, ARM, Integral, S.F. Holding
  • China Healthcare Weekly (Aug.25) – Anti Corruption Affects IPO, TIGIT Revives Again? Neusoft Xikang

Quiddity A/H Premium Monitor 🦄 (As of 25 Aug 2023)

By Travis Lundy

  • This week it is changed from H/A Discount to A/H Premium, by popular demand. Some Northbound data is added. We kept the unicorn.
  • Last week saw a win/loss ratio of 21:13. Average recommended pair on the week earned 0.9% if Sunday recos executed Monday close, 1.35% if executed Monday VWAP. 
  • 6 Unwinds and 3 new trades recommended this week. As always, feedback desired to make this even better.

Weekly Deals Digest (27 Aug) – Golden Eagle, Costa, Boustead, UMW, ARM, Integral, S.F. Holding

By Arun George

China Healthcare Weekly (Aug.25) – Anti Corruption Affects IPO, TIGIT Revives Again? Neusoft Xikang

By Xinyao (Criss) Wang

  • Anti-Corruption campaign has affected healthcare companies’ IPO. It’s crucial for companies to explain the compliance of selling expenses in IPO approval process. Investors need to be aware of potential risks.
  • Roche posts interim TIGIT OS data after “inadvertent disclosure”, which seems to give investors a glimmer of hope. But for now, we remain cautious about TIGIT based on our analysis.
  • We updated our views on Neusoft Xikang. We still hold a conservative view towards whether Xikang can successfully IPO this time, mainly due to some negative factors and gloomy outlook.

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Aug 27
0

Daily Brief Japan: Medical Data Vision, Softbank Group, Tokyo Stock Exchange Tokyo Price Index Topix and more

By | Daily Briefs, Japan

In today’s briefing:

  • Medical Data Vision (3902) – SBI Upping Their Stake Means Opportunity
  • Last Week In Event SPACE: JSR, Intouch/Thaksin, Softbank/ARM, M&A Research, Premier
  • ECM Weekly (27th August 2023) – ARM, Integral, Doosan, Samhi, JSW, TVS, Zeekr, Coforge, APA
  • For Diversity to Be Perceived as Not Special, Managers’ Recognition Needs to Move Toward DE&I

Medical Data Vision (3902) – SBI Upping Their Stake Means Opportunity

By Travis Lundy

  • On Friday after the close, SBI Holdings (8473 JP) – which currently owns 24.63% of Medical Data Vision (3902 JP) – announced it would buy another 2,043,200 shares.
  • This market purchase would lift them to just under 30% by year-end.
  • There have been similar trades done by others in the past and they were worth looking at.

Last Week In Event SPACE: JSR, Intouch/Thaksin, Softbank/ARM, M&A Research, Premier

By David Blennerhassett

ECM Weekly (27th August 2023) – ARM, Integral, Doosan, Samhi, JSW, TVS, Zeekr, Coforge, APA

By Sumeet Singh

  • Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
  • ARM Holdings finally made its IPO filings public, while Doosan Robotics too kicked of its much awaited listing.
  • In the placement space, Union Bank Of India (UNBK IN) managed to upsize its offering, while APA Group (APA AU) pulled off a non-accretive acquisiton.

For Diversity to Be Perceived as Not Special, Managers’ Recognition Needs to Move Toward DE&I

By Aki Matsumoto

  • Metrical’s research shows that % of female board members has significant positive correlation with ROE(2019), with ROA(2020), with ROA and Tobin’s Q(2021), and with ROE, ROA and Tobin’s Q(June 2023).
  • A measure of a company’s seriousness about diversity is the ratio of internal executive directors. Female directors rely heavily on outside directors and are rarely promoted from within the company.
  • To bring value to a company, diversity must be built in at every workplace level, but fewer female employees than male are promoted to managerial positions in two-thirds of companies.

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

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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
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Aug 27
0

Daily Brief TMT/Internet: Accton Technology, Softbank Group, Gartner Inc, Zebra Technologies Corp and more

By | Daily Briefs, TMT/Internet

In today’s briefing:

  • Index Rebalance & ETF Flow Recap: HSCEI, HSI, HSTECH, Yuanta ETFs, China ETFs, REMX, KOSPI
  • Last Week In Event SPACE: JSR, Intouch/Thaksin, Softbank/ARM, M&A Research, Premier
  • ECM Weekly (27th August 2023) – ARM, Integral, Doosan, Samhi, JSW, TVS, Zeekr, Coforge, APA
  • Gartner Inc.: Why Enterprise Leaders Can’t Get Enough of Gartner’s Insights! – Major Drivers
  • Zebra Technologies Corporation: The Future of Mobile Computing Amidst a Demand Downturn! – Major Drivers

Index Rebalance & ETF Flow Recap: HSCEI, HSI, HSTECH, Yuanta ETFs, China ETFs, REMX, KOSPI

By Brian Freitas

Last Week In Event SPACE: JSR, Intouch/Thaksin, Softbank/ARM, M&A Research, Premier

By David Blennerhassett

ECM Weekly (27th August 2023) – ARM, Integral, Doosan, Samhi, JSW, TVS, Zeekr, Coforge, APA

By Sumeet Singh

  • Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
  • ARM Holdings finally made its IPO filings public, while Doosan Robotics too kicked of its much awaited listing.
  • In the placement space, Union Bank Of India (UNBK IN) managed to upsize its offering, while APA Group (APA AU) pulled off a non-accretive acquisiton.

Gartner Inc.: Why Enterprise Leaders Can’t Get Enough of Gartner’s Insights! – Major Drivers

By Baptista Research

  • Gartner delivered a strong result and managed an all-around beat in the last quarter, marked by double-digit growth in revenue, along with high single-digit growth in contract value.
  • Additionally, Gartner reported excellent free cash flow during the quarter.
  • The company’s focus on research as its primary revenue segment was highlighted, with significant growth in research revenue during the quarter.

Zebra Technologies Corporation: The Future of Mobile Computing Amidst a Demand Downturn! – Major Drivers

By Baptista Research

  • Zebra Technologies’ results were a major disappointment as the company failed to meet Wall Street’s revenue and earnings expectations.
  • Weaker demand and cautious consumer spending patterns throughout Zebra’s end markets impacted its second-quarter performance.
  • In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

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  • ✓ Events & Webinars
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Aug 27
0

Daily Brief Energy/Materials: Marathon Oil, Occidental Petroleum, Cf Industries Holdings, Mosaic Co/The, Phillips 66 and more

By | Daily Briefs, Energy & Materials Sector

In today’s briefing:

  • Marathon Oil Corporation: Projected Capital Program – Are They Aiming Too High? – Major Drivers
  • Occidental Petroleum: Tackling Challenges with Bold Operational Improvements! – Major Drivers
  • CF Industries Holdings: Does It Have A Sustainable Competitive Advantage? – Major Drivers
  • The Mosaic Company: Collaboration With Safe Security & Other Major Developments
  • Phillips 66: How Strategic Moves Paint a Bright Future Amidst Mixed Results! – Major Drivers

Marathon Oil Corporation: Projected Capital Program – Are They Aiming Too High? – Major Drivers

By Baptista Research

  • Marathon Oil delivered a mixed set of results for the previous quarter, with revenues below the analyst consensus.
  • The company reported a strong adjusted free cash flow of $531 million and returned $434 million to shareholders, marking a 10% increase in distributions compared to the previous quarter.
  • In the third quarter, Marathon Oil’s management team expects total company oil and oil equivalent production to either meet or surpass the upper limit of its annual guidance range.

Occidental Petroleum: Tackling Challenges with Bold Operational Improvements! – Major Drivers

By Baptista Research

  • Occidental Petroleum delivered a disappointing set of results as the company could not meet Wall Street’s revenue and earnings expectations.
  • The company’s adjusted profit of $0.68 per diluted share slightly exceeded the reported profit of $0.63.
  • Despite planned maintenance activities across their oil and gas businesses, the company generated over $1 billion of free cash flow for working capital.

CF Industries Holdings: Does It Have A Sustainable Competitive Advantage? – Major Drivers

By Baptista Research

  • CF Industries Holdings delivered mixed results for the previous quarter, with revenues well below analyst expectations but managed an earnings beat.
  • The company’s ability to generate adjusted EBITDA of over $1.7 billion in the first half 2023 reflected strong demand dynamics.
  • CF Industries exceeded sales expectations, selling more products than it produced, resulting in low inventories at the end of the first half.

The Mosaic Company: Collaboration With Safe Security & Other Major Developments

By Baptista Research

  • The Mosaic Company delivered mixed results for the previous quarter, with revenues above the analyst consensus.
  • Global crop demand is very high, and supply finds it difficult to match up where fundamentals are still favorable.
  • Furthermore, in Palmeirante, Mosaic is developing one million-tonne blending and distribution facility for its Mosaic Fertilizantes company.

Phillips 66: How Strategic Moves Paint a Bright Future Amidst Mixed Results! – Major Drivers

By Baptista Research

  • Phillips 66 delivered a mixed set of results in its most recent result, with revenues falling short of Wall Street expectations but above-par earnings.
  • The last quarter was marked by strong operational performance and strategic execution, evident in its adjusted earnings of $1.8 billion.
  • In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

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Aug 27
0

Daily Brief Industrials: Stanley Black & Decker and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Stanley Black & Decker Inc.: Breaking Down the Reasons Behind Their Revenue Surge! – Major Drivers

Stanley Black & Decker Inc.: Breaking Down the Reasons Behind Their Revenue Surge! – Major Drivers

By Baptista Research

  • Stanley Black & Decker exceeded analyst expectations in terms of revenue and earnings.
  • Second-quarter revenue decreased from the previous year due to reduced consumer outdoor and DIY volume.
  • Global automotive and aerospace continue to show momentum across Stanley Black & Decker’s industrial end sectors.

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Aug 27
0

Daily Brief Health Care: Medical Data Vision, Telix Pharmaceuticals, Eoflow , Lunit , Neusoft Xikang Healthcare Technology Co Ltd, Zimmer Biomet Holdings, Humana Inc, Exact Sciences, Incyte Corp and more

By | Daily Briefs, Healthcare

In today’s briefing:

  • Medical Data Vision (3902) – SBI Upping Their Stake Means Opportunity
  • Telix Pharmaceuticals (TLX AU): Strong 1H23 Result; Revenue Jumps 9x; 80% Reduction in Net Loss
  • (Mostly) Asia-Pac Weekly Risk Arb Wrap: SK Rent A Car, UMW, BPlant, E Guardian, EOflow, Oishi
  • Lunit (Specializes in AI-Based Cancer Diagnosis and Treatment): Rights Offering of 202 Billion Won
  • China Healthcare Weekly (Aug.25) – Anti Corruption Affects IPO, TIGIT Revives Again? Neusoft Xikang
  • Zimmer Biomet Holdings Inc.: Navigating Global Uncertainties with A Unique Growth Strategy! – Major Drivers
  • Humana Inc.: Pushing the Envelope in Member Experiences! – Major Drivers
  • Exact Sciences Corporation: Cancer Research Through Collaborative Partnerships & Other Drivers
  • Incyte Corporation: 4 Proven Strategies Driving The Recent Financial Performance – Financial Forecasts

Medical Data Vision (3902) – SBI Upping Their Stake Means Opportunity

By Travis Lundy

  • On Friday after the close, SBI Holdings (8473 JP) – which currently owns 24.63% of Medical Data Vision (3902 JP) – announced it would buy another 2,043,200 shares.
  • This market purchase would lift them to just under 30% by year-end.
  • There have been similar trades done by others in the past and they were worth looking at.

Telix Pharmaceuticals (TLX AU): Strong 1H23 Result; Revenue Jumps 9x; 80% Reduction in Net Loss

By Tina Banerjee

  • Telix Pharmaceuticals (TLX AU) reported 1H23 revenue of A$221M, a nine-fold increase on 1H22, reflecting continued growth in sales of its prostate cancer imaging agent, Illuccix.
  • Gross margin improved to 64% in 1H23 from 56% in 1H22. Telix has transitioned to positive earnings on an adjusted EBITDAR basis. Net loss decreased 80% YoY to A$14M.
  • With the increasing adoption in global PSMA PET imaging market, Illuccix has positive outlook. Telix is expected to launch two new products in 2024 for brain and kidney cancer imaging.

(Mostly) Asia-Pac Weekly Risk Arb Wrap: SK Rent A Car, UMW, BPlant, E Guardian, EOflow, Oishi

By David Blennerhassett

Lunit (Specializes in AI-Based Cancer Diagnosis and Treatment): Rights Offering of 202 Billion Won

By Douglas Kim

  • On 24 August, Lunit announced a rights offering capital increase of 202 billion won. 
  • Lunit’s current share price is 155,700 won and its market cap is 1.9 trillion won. The expected rights offering price is 30% discount to current price.
  • We have a positive view of Lunit and its rights offering. Lunit is one of the leading companies in Korea that specializes in AI-based cancer diagnosis and treatment solutions.

China Healthcare Weekly (Aug.25) – Anti Corruption Affects IPO, TIGIT Revives Again? Neusoft Xikang

By Xinyao (Criss) Wang

  • Anti-Corruption campaign has affected healthcare companies’ IPO. It’s crucial for companies to explain the compliance of selling expenses in IPO approval process. Investors need to be aware of potential risks.
  • Roche posts interim TIGIT OS data after “inadvertent disclosure”, which seems to give investors a glimmer of hope. But for now, we remain cautious about TIGIT based on our analysis.
  • We updated our views on Neusoft Xikang. We still hold a conservative view towards whether Xikang can successfully IPO this time, mainly due to some negative factors and gloomy outlook.

Zimmer Biomet Holdings Inc.: Navigating Global Uncertainties with A Unique Growth Strategy! – Major Drivers

By Baptista Research

  • Zimmer Biomet Holdings delivered a strong result and managed an all-around beat last quarter.
  • The company reported increased GAAP diluted earnings per share due to higher revenues and effective cost management.
  • Moreover, the company’s strong operating cash flows and solid balance sheet position provide the strategic flexibility needed for future growth initiatives.

Humana Inc.: Pushing the Envelope in Member Experiences! – Major Drivers

By Baptista Research

  • Humana Inc. delivered a solid result and managed an all-around beat in the last quarter, with adjusted earnings per share meeting expectations and positive results from all lines of business, supported by the growth in Medicare Advantage utilization.
  • The company has reaffirmed its full-year guidance, reflecting a significant increase in adjusted EPS over the previous year.
  • In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Exact Sciences Corporation: Cancer Research Through Collaborative Partnerships & Other Drivers

By Baptista Research

  • Exact Sciences Corporation exceeded Wall Street’s revenue and earnings expectations.
  • Revenue increased in the second quarter.
  • Exact Sciences continues to see widespread Cologuard acceptance and traction among health systems.

Incyte Corporation: 4 Proven Strategies Driving The Recent Financial Performance – Financial Forecasts

By Baptista Research

  • Incyte Corporation delivered an all-around beat in the previous quarter.
  • With patient demand for all indications rising, net product revenues for the quarter increased.
  • The quarter also saw a rise in US patient demand, as total prescriptions grew over the previous quarter, and refills increased.

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  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
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Aug 27
0

Daily Brief Industrials: Stanley Black & Decker and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Stanley Black & Decker Inc.: Breaking Down the Reasons Behind Their Revenue Surge! – Major Drivers

Stanley Black & Decker Inc.: Breaking Down the Reasons Behind Their Revenue Surge! – Major Drivers

By Baptista Research

  • Stanley Black & Decker exceeded analyst expectations in terms of revenue and earnings.
  • Second-quarter revenue decreased from the previous year due to reduced consumer outdoor and DIY volume.
  • Global automotive and aerospace continue to show momentum across Stanley Black & Decker’s industrial end sectors.

💡 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

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  • ✓ Personalised Alerts
  • ✓ Custom Watchlists
  • ✓ Company Data and News
  • ✓ Events & Webinars
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Aug 27
0

Daily Brief Quantitative Analysis: HK Short Interest Weekly: Tencent and more

By | Daily Briefs, Quantitative Analysis

In today’s briefing:

  • HK Short Interest Weekly: Tencent, Wuxi Apptec, China Mobile, Bank Of China, CCB, Country Garden

HK Short Interest Weekly: Tencent, Wuxi Apptec, China Mobile, Bank Of China, CCB, Country Garden

By Ke Yan, CFA, FRM

  • We analyzed the latest HK SFC report for aggregate short position as of Aug 18th. 
  • Top short increases and decreases were tabulated for one week and four week period.  
  • We highlight short changes in Tencent, Wuxi Apptec, China Mobile, Bank Of China, CCB, Country Garden, Bidu.

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  • ✓ Custom Watchlists
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  • ✓ Events & Webinars
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Aug 27
0

Daily Brief Consumer: Great Wall Motor, Hanesbrands Inc, Golden Eagle Retail, Tokyo Stock Exchange Tokyo Price Index Topix and more

By | Consumer, Daily Briefs

In today’s briefing:

  • Quiddity A/H Premium Monitor 🦄 (As of 25 Aug 2023)
  • Activist Investor Stirs the Pot: Is Hanesbrands on the Brink of a Comeback? – Key Drivers
  • Weekly Deals Digest (27 Aug) – Golden Eagle, Costa, Boustead, UMW, ARM, Integral, S.F. Holding
  • For Diversity to Be Perceived as Not Special, Managers’ Recognition Needs to Move Toward DE&I

Quiddity A/H Premium Monitor 🦄 (As of 25 Aug 2023)

By Travis Lundy

  • This week it is changed from H/A Discount to A/H Premium, by popular demand. Some Northbound data is added. We kept the unicorn.
  • Last week saw a win/loss ratio of 21:13. Average recommended pair on the week earned 0.9% if Sunday recos executed Monday close, 1.35% if executed Monday VWAP. 
  • 6 Unwinds and 3 new trades recommended this week. As always, feedback desired to make this even better.

Activist Investor Stirs the Pot: Is Hanesbrands on the Brink of a Comeback? – Key Drivers

By Baptista Research

  • This is a special one-time report on Hanesbrands Inc, a company that is internationally recognized for its Hanes underwear and Champion sportswear and has recently garnered the attention of the New York-based hedge fund, Barington Capital Group LP.
  • With its acquisition of a stake in Hanesbrands, which is slightly below 1%, Barington has initiated active dialogues with the company’s board and management.
  • At the heart of their concerns is Hanesbrands’ subpar performance when placed side by side with its industry competitors and the wider market.

Weekly Deals Digest (27 Aug) – Golden Eagle, Costa, Boustead, UMW, ARM, Integral, S.F. Holding

By Arun George

For Diversity to Be Perceived as Not Special, Managers’ Recognition Needs to Move Toward DE&I

By Aki Matsumoto

  • Metrical’s research shows that % of female board members has significant positive correlation with ROE(2019), with ROA(2020), with ROA and Tobin’s Q(2021), and with ROE, ROA and Tobin’s Q(June 2023).
  • A measure of a company’s seriousness about diversity is the ratio of internal executive directors. Female directors rely heavily on outside directors and are rarely promoted from within the company.
  • To bring value to a company, diversity must be built in at every workplace level, but fewer female employees than male are promoted to managerial positions in two-thirds of companies.

💡 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


Aug 27
0

Daily Brief ESG: For Diversity to Be Perceived as Not Special and more

By | Daily Briefs, ESG

In today’s briefing:

  • For Diversity to Be Perceived as Not Special, Managers’ Recognition Needs to Move Toward DE&I

For Diversity to Be Perceived as Not Special, Managers’ Recognition Needs to Move Toward DE&I

By Aki Matsumoto

  • Metrical’s research shows that % of female board members has significant positive correlation with ROE(2019), with ROA(2020), with ROA and Tobin’s Q(2021), and with ROE, ROA and Tobin’s Q(June 2023).
  • A measure of a company’s seriousness about diversity is the ratio of internal executive directors. Female directors rely heavily on outside directors and are rarely promoted from within the company.
  • To bring value to a company, diversity must be built in at every workplace level, but fewer female employees than male are promoted to managerial positions in two-thirds of companies.

💡 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