Daily Briefs

Given its portfolio mix, Treasury Wine Estates (TWE AU) does not expect a material impact on its business from the blanket 10% tariff on all goods imported from Australia/New Zealand.
However, there is a high probability that Treasury Wine Estates (TWE AU) will be deleted from a global index in May and that will lead to large selling from passives.
There has been an increase in short interest and an increase in other positioning. Trading will be volatile but there could be a downward bias over the next few weeks.

Merger Arb Mondays (07 Apr) – Seven & I, Makino, HKBN, OneConnect, Dada, Insignia, Domain, Dropsuite

We summarise the latest spreads and newsflow of merger arb situations we cover across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Philippines, Thailand and Chinese ADRs.
Highest spreads: Seven & I Holdings (3382 JP), Insignia Financial (IFL AU), ENN Energy (2688 HK), OneConnect Financial Technology (OCFT US), Smart Share Global (EM US), Soundwill Holdings (878 HK).
Lowest spreads: Sinarmas Land (SML SP), Makino Milling Machine Co (6135 JP), Millennium & Copthorne Hotels Nz (MCK NZ), Shibaura Electronics (6957 JP), Tonami Holdings (9070 JP).

Komeri (8218) Rare, Tariff-Proof Domestic Growth Idea at a Steep Discount

By Michael Allen

Komeri plans to expand their addressable market by 75% and to double their current market share to 21%.
Same store sales of the company’s Pro Stores rose an average of more than 7% in the past 8 quarters, and selling area is expanding at more than 25% annually.
Yet Komeri trades at just 11x earnings, compared to about 16x for Topix and 18x for the median retail stock.

Chagee Holdings (CHA US) IPO: The Bear Case

Chagee Holdings (CHA US), a leading premium tea drinks brand, is seeking to raise US$400-500 million through a Nasdaq IPO.
In Chagee Holdings (CHA US) IPO: The Bull Case, we highlighted the key elements of the bull case. In this note, we outline the bear case.
The bear case rests on unsustainable growth rates, pressure on KPIs, signs of margin pressure, increasing S&M expenses and weakening forward growth indicators.

HK-Listed Apparel & Footwear Screener: Tariff Drag On The Sector

By Sameer Taneja

Tariff introductions in Vietnam were 46%, PRC 34%, Bangladesh 37%, Indonesia 32%, etc, have rocked the textile complex, and share prices have reacted negatively.
The companies with the maximum revenue exposure to the US market are Stella International (1836 HK), with 47%, Crystal International (2232 HK), with 38%, and Lever Style (1346 HK), with 58%.
We anticipate that the negative sentiment will continue to hinder the sector until a reasonable negotiation occurs. In the meantime, there are no beneficiaries in this trade war.

Goldlion Holdings (533 HK) Privatization – Updates on Valuation Outlook Based on 2024 Results

By Xinyao (Criss) Wang

2024 results is significantly below expectations. While revenue had negative growth, SG&A expenses remain high.Coupled with net fair value losses after tax on investment properties, we saw ugly net profit.
As consumer confidence won’t improve in short term, coupled with competition/corporate strategy lag, we adjusted next three-year growth based on 2024 results. This may increase the success rate of privatization.
Reasonable valuation of Goldlion is 9-14x P/E due to short-term headwinds.If performance picks up due to effective expansion in online channels or popular products launched, P/E may improve to 12-15x.

Political Problems Are Preventing a Solution to the Problem of Declining Birthrates

By Aki Matsumoto

Eliminating income limits on child allowances seems to be the right policy because the wealthier families have more children. However, it lacks viewpoints toward the growing number of unmarried people.
It seems effective to solve the problem of the growing income disparity and the child-rearing/housework being disproportionately placed on women, and taking appropriate measures for those who desire diverse lifestyles.
Policies don’t reach the ever-increasing number of singles. Rather than solutions to declining birthrate, priority is given to policies that distribute money to those who are more certain to vote.

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Apr 07

Most Read: SPDR S&P 500, BYD, Solar Industries India, Mitsubishi Logisnext Co., Ltd., Krafton , Treasury Wine Estates, Seven & I Holdings, Topcon Corp, Abacus Storage King and more

By Smartkarma Daily Briefs | Daily Briefs, Most Read

In today’s briefing:

Trump Team’s Weird Tariff Math – Not Meant to Be Negotiated
BYD (1211 HK): God’s Eye & Potential HSTECH Index Inclusion
AMFI Stock Reclassification Preview (Jun 2025): Plenty of Change With More Likely
US Tariff Impact Estimates
Mitsubishi Logisnext (7105) – Worth Buying The Dip On Likely Sale
20 Korean Stocks That Could Outperform Next 2 Months Amid Tariff War and Local Political Turmoil
Treasury Wine Estates (TWE AU): Passive Selling Adds to Tariff Woes
Merger Arb Mondays (07 Apr) – Seven & I, Makino, HKBN, OneConnect, Dada, Insignia, Domain, Dropsuite
(Mostly) Asia-Pac M&A: Topcon, Jinke Smart Services, Dropsuite, Domain, Jamco, Shin Kong, Dada Nexus
Abacus Storage King (ASK AU) Gets an NBIO from Ki Corp & PSA

Trump Team’s Weird Tariff Math – Not Meant to Be Negotiated

By Travis Lundy

For weeks, if not months, the world has been wondering what the “reciprocal tariffs” would be, and what the logic would be behind them.
There is talk of VAT, and NTBs, and huge tariff step-ups after quotas are exceeded (US exports of milk and cheese to Canada – high tariffs, but quotas not exceeded).
But a quick check of the math on the Trump Executive Order and Annex I tells you the logic is different than what everyone expected.

BYD (1211 HK): God’s Eye & Potential HSTECH Index Inclusion

BYD (1211 HK) raised US$5.6bn in a secondary offering a few weeks ago and the stock is trading a lot higher than the placement price.
Buying from global index trackers is done, but there will be more passive buying from Hang Seng Index (HSI) and Hang Seng China Enterprises Index (HSCEI) trackers later this month.
With the release of the God’s Eye advanced driver-assistance system (ADAS), the stock could be added to the Hang Seng TECH Index (HSTECH INDEX) in June, bringing more passive inflows.

AMFI Stock Reclassification Preview (Jun 2025): Plenty of Change With More Likely

We currently forecast 10 stocks moving from MidCap to LargeCap, 10 stocks moving from LargeCap to MidCap, 9 stocks from SmallCap to MidCap, and 11 stocks from MidCap to SmallCap.
From the new listings, 2 stocks are expected to be added to Mid Cap, and multiple stocks to Small Cap.
There are multiple stocks among the AMFI changes that will be changes for the NSE Nifty Next 50 Index (NIFTYJR INDEX) and/or Nifty Midcap 150 Index in September.

US Tariff Impact Estimates

By Phil Rush

New US tariffs ignored any notion of reciprocity, reaching shockingly substantial sizes. However, the UK was relatively fortunate in landing on the 10% minimum rate.
Repeating 2024’s imports would raise $577bn in tariff revenue, which is worth ~3% of consumption. 70% pass-through to prices would add 2% to the level over 1-2 years.
Negotiations need to conclude rapidly to avoid these front-loaded price rises. The EU’s likely retaliations would magnify its pain, but the US is the biggest stagflationary loser.

Mitsubishi Logisnext (7105) – Worth Buying The Dip On Likely Sale

By Travis Lundy

There was a Nikkei article in December about the Mitsubishi Heavy Industries (7011 JP) selling its interests in Mitsubishi Logisnext Co., Ltd. (7105 JP).
The stock popped. Then popped some more. It was not expensive yet, but no longer dirt cheap. Now the stock is falling as Trump Tariffs threaten to throttle exports.
The reasons why this takeout price could be “high” are unchanged. Tariffs meant to drive US-manufacturing don’t reduce need for forklifts. Logisnext is not badly placed.

20 Korean Stocks That Could Outperform Next 2 Months Amid Tariff War and Local Political Turmoil

By Douglas Kim

In this insight, we discuss 20 Korean stocks that could outperform the market in the next two months amid global tariff war and local political turmoil.
Going forward, we believe these 20 Korean stocks could continue to outperform the market in the next couple of months.
As the market tries to digest further the uncertainties due to tariff war and the local Presidential election, these 20 stocks could provide sound defensive outperformance.

Treasury Wine Estates (TWE AU): Passive Selling Adds to Tariff Woes

Given its portfolio mix, Treasury Wine Estates (TWE AU) does not expect a material impact on its business from the blanket 10% tariff on all goods imported from Australia/New Zealand.
However, there is a high probability that Treasury Wine Estates (TWE AU) will be deleted from a global index in May and that will lead to large selling from passives.
There has been an increase in short interest and an increase in other positioning. Trading will be volatile but there could be a downward bias over the next few weeks.

Merger Arb Mondays (07 Apr) – Seven & I, Makino, HKBN, OneConnect, Dada, Insignia, Domain, Dropsuite

We summarise the latest spreads and newsflow of merger arb situations we cover across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Philippines, Thailand and Chinese ADRs.
Highest spreads: Seven & I Holdings (3382 JP), Insignia Financial (IFL AU), ENN Energy (2688 HK), OneConnect Financial Technology (OCFT US), Smart Share Global (EM US), Soundwill Holdings (878 HK).
Lowest spreads: Sinarmas Land (SML SP), Makino Milling Machine Co (6135 JP), Millennium & Copthorne Hotels Nz (MCK NZ), Shibaura Electronics (6957 JP), Tonami Holdings (9070 JP).

(Mostly) Asia-Pac M&A: Topcon, Jinke Smart Services, Dropsuite, Domain, Jamco, Shin Kong, Dada Nexus

By David Blennerhassett

I tally 54 – mostly firm, mostly Asia-Pac – transactions currently being discussed and analysed on Smartkarma.
Two news new deals discussed this week: Reject Shop (TRS AU) and Topcon Corp (7732 JP). Jinke Smart Services (9666 HK) also suspended pursuant to the Takeovers Code.
Key updates/news took place on Dropsuite (DSE AU), AVJennings Ltd (AVJ AU), Domain Holdings (DHG AU), Jamco (7408 JP), Shin Kong Financial Holding (2888 TT), and Dada Nexus (DADA US).

Abacus Storage King (ASK AU) Gets an NBIO from Ki Corp & PSA

By Special Situation Investments

Abacus Storage King (ASK AU) was demerged from Abacus Property Group in 2023 and the stock has traded in a range since listing.
Now, Ki Corp and Public Storage (PSA US) have made a conditional and non-binding proposal to take Abacus Storage King (ASK AU) private at A$1.47/share.
The offer is a 27% premium to the last close of the stock and is higher than the price that the stock has traded at since listing.

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Apr 06

Daily Brief Quantitative Analysis: HK Connect Flows Weekly (Apr 3rd): Pop Mart Intl and more

By Smartkarma Daily Briefs | Daily Briefs, Quantitative Analysis

In today’s briefing:

HK Connect Flows Weekly (Apr 3rd): Pop Mart Intl, China Mobile, Meituan, Alibaba, CMB

HK Connect Flows Weekly (Apr 3rd): Pop Mart Intl, China Mobile, Meituan, Alibaba, CMB

By Ke Yan, CFA, FRM

We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 3rd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Pop Mart International, China Mobile, Meituan, Alibaba, CMB, Xiaomi.

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Apr 06

Daily Brief Thematic (Sector/Industry): #132 India Insight: U.S. 26% Tariff on India and more

By Smartkarma Daily Briefs | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

#132 India Insight: U.S. 26% Tariff on India, Apple’s 25% Output Surge, HDFC Bank Regulatory Warning
#133 India Insight: GOI Trims 4.83% in Mazagon OFS, Gensol Faces SEBI Scrutiny, ABFRL’s 2x Rev Plan
APAC Healthcare Weekly (April 6)- Nippon Shinyaku, Shionogi, Beigene, Celltrion, Mesoblast, Lupin

#132 India Insight: U.S. 26% Tariff on India, Apple’s 25% Output Surge, HDFC Bank Regulatory Warning

By Sudarshan Bhandari

U.S. imposes 26% tariff on Indian imports to be enforced in two phases i.e. 10% from April 5 and 16% from April 10 , although India sees no major setback.
Apple (AAPL US) to raise India’s iPhone output to 25% by 2028 from 14% in FY24, boosting local manufacturing and to meet the projected demand.
SEBI warns HDFC Bank for non-compliance; analysts project a 12% upside in share price.

#133 India Insight: GOI Trims 4.83% in Mazagon OFS, Gensol Faces SEBI Scrutiny, ABFRL’s 2x Rev Plan

By Sudarshan Bhandari

GOI launches a 4.83% stake sale in Mazagon Dock at an 8% discount, causing a 6.4% stock dip.
SEBI may investigate Gensol Engineering (GENSOL IN) over related-party EV leases and falsified debt servicing documents.
Aditya Birla Fashion and Retail Ltd (ABFRL IN) shifts focus to organic growth with plans to double revenue and hit 70% ROCE in lifestyle brands which drives strong re-rating potential.

APAC Healthcare Weekly (April 6)- Nippon Shinyaku, Shionogi, Beigene, Celltrion, Mesoblast, Lupin

By Tina Banerjee

Nippon Shinyaku filed NDA of tagraxofusp for a rare aggressive hematologic malignancy in Japan. Shionogi initiated rolling NDA submission to the FDA for Xocova for COVID-19 post-exposure prophylaxis.
Beigene is discontinuing clinical development program for ociperlimab, as a potential treatment for lung cancer. Celltrion received positive CHMP opinion for the addition of the Omlyclo autoinjector formulation.
The first three children with SR-aGvHD will receive a course of Mesoblast’s Ryoncil commencing this week. Lupin is acquiring UK-based Renascience Pharma, a sole supplier of 4 specialty products.

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Apr 06

Daily Brief Technical Analysis: Odds of a Prolonged Downturn Are Rising; We Are Cautious; Get Defensive and more

By Smartkarma Daily Briefs | Daily Briefs, Technical Analysis

In today’s briefing:

Odds of a Prolonged Downturn Are Rising; We Are Cautious; Get Defensive

Odds of a Prolonged Downturn Are Rising; We Are Cautious; Get Defensive

By Joe Jasper

We have been expecting near-term downside on ACWI-US and the S&P 500 since our February 27 Int’l Compass, when both ACWI-US and the S&P 500 displayed false breakouts.
Market dynamics have continued to deteriorate to the point where we don’t see it as a buying opportunity, and we believe $115 support is not likely to hold on ACWI-US.
Therefore, we are cautious and would get defensive, as we believe the odds of a more prolonged downturn in global equities are rising.

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Apr 06

Daily Brief Event-Driven: SSI Weekly Newsletter: Updates on Liquidia and more

By Smartkarma Daily Briefs | Daily Briefs, Event-Driven

In today’s briefing:

SSI Weekly Newsletter: Updates on Liquidia, SpringWorks, Allakos, Acelyrin, SAGA, NZME, Nathan’s, HilleVax, TTEC
Last Week in Event SPACE: Makino, ENN Energy, Trump Tariffs, HKBN
Weekly Deals Digest (06 Apr) – Skyworth, HKBN, Makino, Avjennings, Domain, Dropsuite, Dada Nexus
(Mostly) Asia-Pac M&A: Topcon, Jinke Smart Services, Dropsuite, Domain, Jamco, Shin Kong, Dada Nexus

SSI Weekly Newsletter: Updates on Liquidia, SpringWorks, Allakos, Acelyrin, SAGA, NZME, Nathan’s, HilleVax, TTEC

Liquidia’s NDA for Yutrepia accepted by FDA with a PDUFA date set for May 24, commercialization expected soon.
SpringWorks Therapeutics’ stock dropped 17% amid silence on Merck takeover talks, market perceives low deal probability.
Allakos announced a buyout at $0.33/share, stock jumped 40%, deal expected to close in May 2025.

Last Week in Event SPACE: Makino, ENN Energy, Trump Tariffs, HKBN

By David Blennerhassett

At a zero net debt zero net cash (securities liquidated) Adjusted Price/Earnings Ratio of 11.3x expected Net Income, the multiple offered Makino Milling Machine (6135 JP) is not a knock-out.
ENN Energy (2688 HK) investors hoping for a clean (er) exit, or where the back-end terms were clearly defined, will be disappointed. And minorities are active in this name. Avoid
New Trump Tariffs are not based on any actual tariffs, or non-tariff measures. The simple/explicit assumption is that if you run a trade surplus with the US, you are cheating.

Weekly Deals Digest (06 Apr) – Skyworth, HKBN, Makino, Avjennings, Domain, Dropsuite, Dada Nexus

A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments: DN Solutions (298440 KS) seeks to raise US$1.1 billion in a KRX IPO and Chagee Holdings (CHA US) seeks to raise US$400-500 million through a Nasdaq IPO.
Event-Driven developments: Skyworth Group Limited (751 HK), HKBN Ltd (1310 HK), Makino Milling Machine Co (6135 JP), Avjennings Ltd (AVJ AU), Domain Holdings Australia (DHG AU), Dropsuite Ltd (DSE AU).

(Mostly) Asia-Pac M&A: Topcon, Jinke Smart Services, Dropsuite, Domain, Jamco, Shin Kong, Dada Nexus

By David Blennerhassett

I tally 54 – mostly firm, mostly Asia-Pac – transactions currently being discussed and analysed on Smartkarma.
Two news new deals discussed this week: Reject Shop (TRS AU) and Topcon Corp (7732 JP). Jinke Smart Services (9666 HK) also suspended pursuant to the Takeovers Code.
Key updates/news took place on Dropsuite (DSE AU), AVJennings Ltd (AVJ AU), Domain Holdings (DHG AU), Jamco (7408 JP), Shin Kong Financial Holding (2888 TT), and Dada Nexus (DADA US).

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Apr 06

Daily Brief Equity Bottom-Up: 20 Korean Stocks That Could Outperform Next 2 Months Amid Tariff War and Local Political Turmoil and more

By Smartkarma Daily Briefs | Daily Briefs, Equity Bottom-Up

In today’s briefing:

20 Korean Stocks That Could Outperform Next 2 Months Amid Tariff War and Local Political Turmoil
China Healthcare Weekly (Apr.6) – SASAC to Encourage SOE M&A, WuXi AppTec Disposed XDC Shares Again
Navkar Corporation: How JSW’s Acquisition of Navkar Creates a Logistics Powerhouse.
SmartRent Inc.: Is The Expansion of Recurring SaaS Revenue Expected To Last In These Tough Times?
Endava Inc.: 6 Major Game-Changers Impacting Its 2025 Performance & Beyond!
GFL Environmental Eyes $1 Billion In M&A—Will This Aggressive Inorganic Expansion Materialize?
HCA Healthcare’s New Revenue Strategy: Inside The Government Policies & Critical Factors Powering Its Growth!
Huntington Ingalls Industries Looking To Reinvent Shipbuilding—Will Its Workforce Optimization Efforts Work Out?
MACOM Doubles Down on GaN Power with CHIPS Funding Boost!
Marriott Vacations: Capitalizing On First-Time Buyer Growth & Contract Sales To Up Their Top-Line Growth!

20 Korean Stocks That Could Outperform Next 2 Months Amid Tariff War and Local Political Turmoil

By Douglas Kim

In this insight, we discuss 20 Korean stocks that could outperform the market in the next two months amid global tariff war and local political turmoil.
Going forward, we believe these 20 Korean stocks could continue to outperform the market in the next couple of months.
As the market tries to digest further the uncertainties due to tariff war and the local Presidential election, these 20 stocks could provide sound defensive outperformance.

China Healthcare Weekly (Apr.6) – SASAC to Encourage SOE M&A, WuXi AppTec Disposed XDC Shares Again

By Xinyao (Criss) Wang

Licensing-Out partnerships are expected to contribute approximately US$6–7 billion in annual upfront payments, US$12–14 billion in milestone payments, and US$25–30 billion in sales-sharing revenues to China’s innovative drug industry.
SASAC’s new policy promotes SOE M&A to strengthen industrial chains, especially in weaker sectors like biomedicine. The strategic deployment of state-owned capital is set to gain momentum.
WuXi AppTec is divesting its stake in WuXi XDC, viewing the shares as overvalued and aiming to lock in profits ahead of a potential price correction.

Navkar Corporation: How JSW’s Acquisition of Navkar Creates a Logistics Powerhouse.

By Viral Kishorchandra Shah

JSW group aims to become a complete port and logistics solution provider to end customers, by combining JSWIL’s port infrastructure with Navkar’s inland logistics capabilities (CFS, ICD, PFT,CTO license).
Access to Navkar’s 100 acres undeveloped land in strategic areas offers JSW Infrastructure Ltd( JSWIL) opportunities for further development and expansion of logistics infrastructure.
JSW targets INR 9,000 crore Capex in logistics by FY30, expecting INR 8,000 crore revenue, INR 2,000 crore EBITDA, and 17-18% ROCE.

SmartRent Inc.: Is The Expansion of Recurring SaaS Revenue Expected To Last In These Tough Times?

SmartRent is undergoing a strategic transformation toward a Software-as-a-Service (SaaS)-focused business model.
This shift is reflected in the growth of the company’s recurring SaaS subscriptions, which increased to 38% of total revenue in the fourth quarter, up from 19% in the previous year.
Annual recurring revenue (ARR) grew to $54.4 million, reflecting a year-over-year increase, and SaaS revenue showed a 17% increase during the same period.

Endava Inc.: 6 Major Game-Changers Impacting Its 2025 Performance & Beyond!

Endava reported its second quarter fiscal year 2025 results with revenue reaching GBP 195.6 million, a 6.6% increase year-over-year, or 9.1% in constant currency.
This growth was driven by strong business performance in North America and the company’s core modernization offerings.
Profit before tax stood at GBP 2.5 million, significantly lower than the GBP 10.6 million a year earlier, highlighting ongoing cost challenges and restructuring impacts.

GFL Environmental Eyes $1 Billion In M&A—Will This Aggressive Inorganic Expansion Materialize?

GFL Environmental Inc. presented a mixed financial performance in its fourth-quarter and annual earnings call for 2024, showcasing both promising growth strategies and some potential headwinds.
For the quarter, the company reported consolidated revenue of $1.986 billion, outpacing their expectations due to solid waste organic growth and strategic pricing initiatives.
The company also highlighted a 7% organic growth in the solid waste segment, a sign of resilience and effective management strategies.

HCA Healthcare’s New Revenue Strategy: Inside The Government Policies & Critical Factors Powering Its Growth!

HCA Healthcare delivered a mixed performance in its fourth-quarter 2024 results, reflecting both strengths and challenges faced during the period.
Positively, the company continued to demonstrate robust demand for healthcare services, with an overall revenue growth of approximately 6% compared to the previous year.
Key performance indicators like inpatient admissions showed a healthy upward trajectory, with a 3% increase in both categories when measured on a same-facility basis.

Huntington Ingalls Industries Looking To Reinvent Shipbuilding—Will Its Workforce Optimization Efforts Work Out?

Huntington Ingalls Industries, Inc. (HII) presented its Q4 2024 earnings results with a mixed outcome, reflecting both opportunities and challenges across its various business segments.
The company reported revenues of $3 billion for the quarter, a decrease of approximately 5% compared to the same period last year.
This decline was attributed to reduced revenues across all three of HII’s segments.

MACOM Doubles Down on GaN Power with CHIPS Funding Boost!

MACOM Technology Solutions Holdings, Inc. reported its financial results for the first fiscal quarter of 2025, with notable developments across its key business segments: Industrial & Defense, Data Center, and Telecom.
The company posted a revenue of $218 million, an 8.7% sequential increase, and an adjusted EPS of $0.79 per diluted share.
It generated approximately $63 million in free cash flow and maintained a strong cash position with $657 million in cash and short-term investments.

Marriott Vacations: Capitalizing On First-Time Buyer Growth & Contract Sales To Up Their Top-Line Growth!

By Special Situation Investments

Marriott Vacations Worldwide reported solid results for the fourth quarter of 2024, underpinned by strong leisure travel demand and strategic adjustments in sales and marketing approaches.
The company has successfully expanded its sales channels and promotional strategies, leading to a 7% year-over-year increase in contract sales, with first-time buyer sales growing faster.
This results from innovative initiatives like virtual tours and sales channels such as roadshows and owner cruises.

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Apr 06

Daily Brief South Korea: Krafton and more

By Smartkarma Daily Briefs | Daily Briefs, South Korea

In today’s briefing:

20 Korean Stocks That Could Outperform Next 2 Months Amid Tariff War and Local Political Turmoil

20 Korean Stocks That Could Outperform Next 2 Months Amid Tariff War and Local Political Turmoil

By Douglas Kim

In this insight, we discuss 20 Korean stocks that could outperform the market in the next two months amid global tariff war and local political turmoil.
Going forward, we believe these 20 Korean stocks could continue to outperform the market in the next couple of months.
As the market tries to digest further the uncertainties due to tariff war and the local Presidential election, these 20 stocks could provide sound defensive outperformance.

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Apr 06

Daily Brief Singapore: Singtel and more

By Smartkarma Daily Briefs | Daily Briefs, Singapore

In today’s briefing:

Odds of a Prolonged Downturn Are Rising; We Are Cautious; Get Defensive

Odds of a Prolonged Downturn Are Rising; We Are Cautious; Get Defensive

By Joe Jasper

We have been expecting near-term downside on ACWI-US and the S&P 500 since our February 27 Int’l Compass, when both ACWI-US and the S&P 500 displayed false breakouts.
Market dynamics have continued to deteriorate to the point where we don’t see it as a buying opportunity, and we believe $115 support is not likely to hold on ACWI-US.
Therefore, we are cautious and would get defensive, as we believe the odds of a more prolonged downturn in global equities are rising.

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Apr 06

Daily Brief United States: ACELYRIN , SmartRent, Belden Inc, Donaldson Co, HCA Healthcare, Inc. , Huntington Ingalls Industries, Ma Com Technology Solutions, Marriott Vacations World, N-able , Reservoir Media and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

SSI Weekly Newsletter: Updates on Liquidia, SpringWorks, Allakos, Acelyrin, SAGA, NZME, Nathan’s, HilleVax, TTEC
SmartRent Inc.: Is The Expansion of Recurring SaaS Revenue Expected To Last In These Tough Times?
Belden Inc.: Expansion of Industrial Network Offerings & 4 Critical Developments Powering Its 2025 Performance!
Donaldson Company: Growth In Aftermarket & Solutions Segments Propelling Our ‘Outperform’ Rating!
HCA Healthcare’s New Revenue Strategy: Inside The Government Policies & Critical Factors Powering Its Growth!
Huntington Ingalls Industries Looking To Reinvent Shipbuilding—Will Its Workforce Optimization Efforts Work Out?
MACOM Doubles Down on GaN Power with CHIPS Funding Boost!
Marriott Vacations: Capitalizing On First-Time Buyer Growth & Contract Sales To Up Their Top-Line Growth!
N-able Inc.: Expanding Reseller & Mid-Market Channels to Strengthen Foothold In Critical Global Markets!
Reservoir Media Is Riding the Streaming Wave—But Can It Keep Growing in a Changing Music Landscape?

SSI Weekly Newsletter: Updates on Liquidia, SpringWorks, Allakos, Acelyrin, SAGA, NZME, Nathan’s, HilleVax, TTEC

Liquidia’s NDA for Yutrepia accepted by FDA with a PDUFA date set for May 24, commercialization expected soon.
SpringWorks Therapeutics’ stock dropped 17% amid silence on Merck takeover talks, market perceives low deal probability.
Allakos announced a buyout at $0.33/share, stock jumped 40%, deal expected to close in May 2025.

SmartRent Inc.: Is The Expansion of Recurring SaaS Revenue Expected To Last In These Tough Times?

SmartRent is undergoing a strategic transformation toward a Software-as-a-Service (SaaS)-focused business model.
This shift is reflected in the growth of the company’s recurring SaaS subscriptions, which increased to 38% of total revenue in the fourth quarter, up from 19% in the previous year.
Annual recurring revenue (ARR) grew to $54.4 million, reflecting a year-over-year increase, and SaaS revenue showed a 17% increase during the same period.

Belden Inc.: Expansion of Industrial Network Offerings & 4 Critical Developments Powering Its 2025 Performance!

Belden Inc. has delivered a robust financial performance in its fourth quarter and the full fiscal year of 2024, with certain strategically positive developments, although faced with some macroeconomic and operational challenges.
The overall revenue for Q4 2024 amounted to $666 million, marking a notable increase of 21% year over-year.
Earnings per share (EPS) also exceeded expectations, reaching $1.92.

Donaldson Company: Growth In Aftermarket & Solutions Segments Propelling Our ‘Outperform’ Rating!

Donaldson Company, Inc. recently reported its second quarter fiscal year 2025 financial results, presenting a mixed performance amidst challenging market conditions.
The company, known for its focus on technology-led filtration solutions, demonstrated resilience in various segments, although it faced several headwinds.
On the positive side, Donaldson achieved a modest 1% increase in sales in constant currency, with total sales reaching $870 million despite a 170 basis point negative impact from currency translation.

HCA Healthcare’s New Revenue Strategy: Inside The Government Policies & Critical Factors Powering Its Growth!

HCA Healthcare delivered a mixed performance in its fourth-quarter 2024 results, reflecting both strengths and challenges faced during the period.
Positively, the company continued to demonstrate robust demand for healthcare services, with an overall revenue growth of approximately 6% compared to the previous year.
Key performance indicators like inpatient admissions showed a healthy upward trajectory, with a 3% increase in both categories when measured on a same-facility basis.

Huntington Ingalls Industries Looking To Reinvent Shipbuilding—Will Its Workforce Optimization Efforts Work Out?

Huntington Ingalls Industries, Inc. (HII) presented its Q4 2024 earnings results with a mixed outcome, reflecting both opportunities and challenges across its various business segments.
The company reported revenues of $3 billion for the quarter, a decrease of approximately 5% compared to the same period last year.
This decline was attributed to reduced revenues across all three of HII’s segments.

MACOM Doubles Down on GaN Power with CHIPS Funding Boost!

MACOM Technology Solutions Holdings, Inc. reported its financial results for the first fiscal quarter of 2025, with notable developments across its key business segments: Industrial & Defense, Data Center, and Telecom.
The company posted a revenue of $218 million, an 8.7% sequential increase, and an adjusted EPS of $0.79 per diluted share.
It generated approximately $63 million in free cash flow and maintained a strong cash position with $657 million in cash and short-term investments.

Marriott Vacations: Capitalizing On First-Time Buyer Growth & Contract Sales To Up Their Top-Line Growth!

Marriott Vacations Worldwide reported solid results for the fourth quarter of 2024, underpinned by strong leisure travel demand and strategic adjustments in sales and marketing approaches.
The company has successfully expanded its sales channels and promotional strategies, leading to a 7% year-over-year increase in contract sales, with first-time buyer sales growing faster.
This results from innovative initiatives like virtual tours and sales channels such as roadshows and owner cruises.

N-able Inc.: Expanding Reseller & Mid-Market Channels to Strengthen Foothold In Critical Global Markets!

N-able Inc. recently reported its fourth-quarter and full-year financial results for 2024, revealing a stable growth trajectory but with various underlying challenges and opportunities for investors to consider.
The company’s revenue grew by 7% year-over-year in constant currency for the fourth quarter, while the full-year revenue increased by 10% under the same metric.
N-able’s Annual Recurring Revenue (ARR) concluded the fiscal year at $482 million, also indicating a 10% growth in constant currency, underscoring a solid revenue base supported by subscription models.

Reservoir Media Is Riding the Streaming Wave—But Can It Keep Growing in a Changing Music Landscape?