United States

Linde, a leading global industrial gases and engineering company, recently reported its first quarter financial results for 2025.
Despite navigating economic headwinds, the company demonstrated resilience, reflecting the robustness of its operating model.
Linde employees managed to deliver an 8% growth in Earnings Per Share (EPS) excluding foreign exchange impacts, while expanding operating margins by 120 basis points to 30.1%.

Okta Inc.: Its Strength In the Public Sector Is One Of Its Biggest Catalysts!

Okta, Inc. has provided a mixed yet insightful picture of its progress and challenges from its latest earnings results.
On the positive side, the company has reported robust financial indicators for the first quarter of fiscal year 2026, including record operating profitability and strong cash flows.
These financials showcase Okta’s capability to efficiently manage costs and drive profitability despite a generally cautious economic environment.

How Kinder Morgan Is Balancing Debt & Growth with Game-Changing Projects Set to Power the Future!

Kinder Morgan reported a quarter with financial performance mostly in line with expectations, pointing to a strong demand for natural gas, particularly driven by LNG exports and increasingly by power generation needs, which include data centers.
The company is witnessing encouraging demand projections tied to a continued growth in U.S. natural gas consumption, expected to rise significantly by the decade’s end.
Current transport volumes have reflected the robust demand across key sectors such as residential, commercial, and power generation, with the company citing historical demand benchmarks from past decades to illustrate the potential for continued growth.

Abbott Laboratories Expansion Play: Can Global Growth & Local Manufacturing Drive the Next Surge?

Abbott Laboratories recently shared its first quarter 2025 earnings results, revealing a strong performance amidst a challenging global environment influenced by new tariff policies and ongoing economic uncertainties.
Abbott’s diversified model and strategic framework contribute to the company’s operational resilience, as evidenced by its ability to meet growth objectives and deliver high single-digit sales growth alongside double-digit earnings per share (EPS) growth.
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.

Boston Scientific WATCHMAN Surge: Will 20% Growth & New Clinical Data Cement Its Cardiovascular Dominance?

Boston Scientific Corporation reported strong first quarter 2025 results, exhibiting significant growth in both revenue and earnings.
The company’s total operational sales increased by 22% while organic sales grew by 18%, surpassing the upper range of guidance of 14% to 16%.
In terms of earnings, the first quarter adjusted EPS reached $0.75, a 34% growth over the previous year, exceeding the projected range of $0.66 to $0.68.

Asana Inc.: AI Studio Expansion & Customer Adoption to Potentially Converting AI Into A Substantial Revenue Source!

Asana’s latest financial results for the first quarter of fiscal year 2026 illustrate a mix of achievements and challenges.
The company has achieved a significant milestone by reaching non-GAAP profitability for the first time, boasting a non-GAAP operating margin of 4%, an improvement from a 9% operating loss margin in the prior year.
This was facilitated by stronger-than-expected revenue of $187.3 million, which represents a 9% yearover-year increase, surpassing initial guidance.

Digital Turbine: Expansion of Device Footprint

Digital Turbine, Inc.’s latest financial results demonstrate a blend of positive developments and ongoing challenges.
For the fiscal fourth quarter ending March 2025, the company returned to year-over-year growth, generating $119.1 million in revenue and $20.5 million in EBITDA, with a non-GAAP earnings per share of $0.10.
This marks a 6% increase in revenue compared to the previous year and a significant 66% rise in year-over-year EBITDA.

Stanley Black & Decker Unleashes $500 Million Supply Chain Overhaul to Battle Tariff Headwinds; Will It Work?

Stanley Black & Decker’s first quarter earnings for 2025 reflected continued progress in line with its transformation strategy, demonstrating both positive outcomes and ongoing challenges.
The company reported organic revenue growth of 1%, driven by strong performance in its outdoor products segment and key contributions from the DEWALT brand, which showed mid-single-digit revenue growth.
The execution of strategic initiatives seems to have resulted in improved supply chain efficiencies, helping to drive a year-over-year gross margin expansion of 140 basis points to 30.4%.

Overview# 29- The Hard-Asset Reset: Buying the Pullback in Commodities

By Rikki Malik

We look at certain investor positioning in the commodity sector
A bear market rally in the USD is the biggest risk and opportunity.
We add some soft commodities to the inflation beneficiaries’ basket

Warner Bros. Discovery’s Bold Split Could Be a Game-Changer—Streaming

Warner Bros. Discovery (WBD) reported first quarter financial results for 2025, highlighting significant strides in its streaming and content services as well as providing insight into its strategic vision for growth.
The company emphasized its commitment to high-quality storytelling and global reach, which it sees as key drivers in its business growth.
For the period, Warner Bros. Discovery continued its momentum in the streaming domain, adding more than 5 million subscribers, resulting in a total of over 22 million new subscribers over the past year.

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Jun 21

Daily Brief United States: Blackline Inc, Capri Holdings , Life Time Group Holdings, Wesco International, M3-Brigade Acquisition V Corp, Box Inc Class A, Boeing Co, Blackbaud Inc, Cleveland-Cliffs Inc , Blueprint Medicines and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

BlackLine Inc.: Can Its New Platform Pricing Model & Its AI Agents Become Key Growth Catalysts?
Capri Holdings: An Insight Into Its Strategic Wholesale and Digital Expansion & Other Major Drivers
Life Time Group Holdings: A Close Look At Its Pricing & Retention Strategy & Other Growth Catalysts!
WESCO International Powers Utility Rebound with Grid Modernization & Strategic Contracts!
MBAV SPAC: Strategic Sponsor Shift Targets Digital Assets
Box Inc.: Here Are the 7 Key Drivers Shaping Its Performance for 2025 & Beyond!- Major Drivers
Boeing’s Dreamliner Nightmare: Is AI171 the Beginning of the End?
Blackbaud Transforms Revenue Model with Game-Changing 3-Year Contracts; What’s The Revenue Impact?
Cleveland-Cliffs Abandons Weirton Plant—What’s Behind This Bold Pivot?
Blueprint Medicines Targets $2 Billion—Can Soaring AYVAKIT Treatment Rates Make It Happen?

BlackLine Inc.: Can Its New Platform Pricing Model & Its AI Agents Become Key Growth Catalysts?

BlackLine, a leader in financial automation solutions, recently announced its Q1 2025 earnings results, highlighting both opportunities and challenges as the company navigates its ongoing journey towards growth and market expansion.
The company reported a total revenue increase of 6% year-over-year, reaching $167 million, with strong subscription and services revenue performance.
However, the financial results are a mix of positives and certain areas that might require attention.

Capri Holdings: An Insight Into Its Strategic Wholesale and Digital Expansion & Other Major Drivers

Capri Holdings Limited’s recent earnings reflect a mix of strategic changes and financial outcomes that should be carefully considered by investors.
The company is in a transitional phase, highlighted by the announcement of the pending sale of Versace to Prada Group.
The decision to divest Versace aims to refocus resources on the Michael Kors and Jimmy Choo brands, with potential benefits of debt reduction and reinstatement of a share repurchase program.

Life Time Group Holdings: A Close Look At Its Pricing & Retention Strategy & Other Growth Catalysts!

Life Time Group Holdings, Inc. reported robust financial performance for the first quarter of 2025.
The company achieved total revenue of $706 million, marking an 18.3% increase year-over-year.
This growth was attributed primarily to a 17.9% increase in membership dues and enrollment fees, alongside an 18.7% rise in in-center revenue.

WESCO International Powers Utility Rebound with Grid Modernization & Strategic Contracts!

By Special Situation Investments

Wesco International, Inc. presented its first quarter 2025 financial results and outlook and reported a 6% organic sales growth for the first quarter, primarily fueled by a 70% increase in its data center business, along with notable surpluses in their OEM and Broadband segments.
These results exceeded initial forecasts and reflect the company’s ability to capitalize on high-demand areas within technology infrastructure.
The firm achieved a stable gross margin sequentially, a strategic play given potential global tariff impacts.

MBAV SPAC: Strategic Sponsor Shift Targets Digital Assets

MBAV’s sponsor interest was acquired by Tether co-founder Reeve Collins and private equity veteran Chinh Chu at $0.90/unit.
MBAV’s trust account is valued at approximately $10.45/share, with current trading price at $12.65/share.
Cantor Fitzgerald, underwriter of MBAV’s IPO, acquired $37.5m stake and will sell private placement warrants to new sponsor.

Box Inc.: Here Are the 7 Key Drivers Shaping Its Performance for 2025 & Beyond!- Major Drivers

Box, Inc.’s first quarter fiscal 2026 results presented a mixed picture with certain positive takeaways and some potential areas of concern for investors to consider.
The company reported revenue of $276 million, marking a 4% year-over-year increase, or 5% when accounting for constant currency fluctuations.
This indicates steady demand, particularly for its AI-driven solutions like Box AI, which continues to attract customers aiming to transform AI-driven workflows around content.

Boeing’s Dreamliner Nightmare: Is AI171 the Beginning of the End?

The crash of Air India Flight AI171 has jolted the global aviation industry and once again cast a long shadow over Boeing’s safety record.
The Dreamliner, once heralded as a revolutionary leap in aviation technology with a flawless fatality record, now lies at the center of a growing storm.
The flight, a Boeing 787-8 en route to the U.K., crashed shortly after takeoff from Ahmedabad, killing 241 of the 242 onboard.

Blackbaud Transforms Revenue Model with Game-Changing 3-Year Contracts; What’s The Revenue Impact?

Blackbaud, Inc. recently reported its first-quarter 2025 financial results, demonstrating a measured performance.
Revenue for the quarter was $271 million, marking 5.8% organic growth.
The company achieved a non-GAAP adjusted EBITDA margin of 34.3% and non-GAAP diluted earnings per share of $0.96.

Cleveland-Cliffs Abandons Weirton Plant—What’s Behind This Bold Pivot?

Cleveland-Cliffs reported a challenging first quarter of 2025, grappling with lower-than-expected performance metrics, particularly in terms of EBITDA and cash flow.
The company attributed these underwhelming results predominantly to low steel prices lingering from late 2024 into early 2025 and the lagging performance of non-core assets.
The federal tariffs on foreign steel, imposed under Section 232, were highlighted as critical to mitigating unfair competition—a policy supported by the Trump administration that aims to bolster domestic production.

Blueprint Medicines Targets $2 Billion—Can Soaring AYVAKIT Treatment Rates Make It Happen?

By Special Situation Investments

Blueprint Medicines presented a mixed yet promising outlook for the first quarter of 2025, exhibiting growth and challenges in their financial and operational performance.
The company reported significant progress, particularly with AYVAKIT, their commercialized treatment for systemic mastocytosis (SM), which achieved a 61% year-over year revenue growth.
This reflects a robust market demand and a growing patient base on therapy, aligning with their $2 billion revenue target for 2030.

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Jun 20

Daily Brief United States: Berto Acquisition, Allegheny Technologies, Rubrik , Tripadvisor Inc, Intapp , Vishay Intertechnology, WD-40 Company, Manpowergroup Inc, Moog Inc Class A, Murphy Oil Corp and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

SPAC TACO: Potential Upside with Strong Sponsor and Meme Appeal in Crypto Treasury Bubble Theme
Allegheny Technologies Incorporated (ATI): Aerospace & Defense Sector Growth To Bolster Its Position & Capitalively Grow In Critical Markets!
Rubrik Inc.: Increasing Adoption of Rubrik’s Security Cloud
TripAdvisor: Enhancing User Experience Through Smart Tech & Personalization But Is It Enough?
Intapp Inc.: An Insight into Its Strategic Client Upsell & Cross-Sell Initiatives & Other Major Drivers
Vishay Intertechnology Expands Smart Grid & AI Footprint: Is It the Next Big Semiconductor Player?
How WD-40 Company Is Winning in Emerging Markets with Hybrid Models & Smart Straw Innovation!
ManpowerGroup: Restructuring Initiatives in Northern Europe to Support Financial Recovery & Future Growth Plans!
Moog Inc.: Advancements in Space & Defense to Solidify Its Position Within The Defense Industry!
Murphy Oil: Will Its Exploration & Development in Emerging Regions Be A Breakthrough Move?

SPAC TACO: Potential Upside with Strong Sponsor and Meme Appeal in Crypto Treasury Bubble Theme

Berto Acquisition (TACO) is a SPAC that IPO’d in April 2025, led by Harry You, with a $300m IPO size.
The SPAC’s current price is $10.53, slightly above its ~$10 trust value, indicating minimal cost for upside potential.
TACO’s IPO was upsized from $250m to $261m, excluding the underwriter’s over-allotment, which is uncommon.

Allegheny Technologies Incorporated (ATI): Aerospace & Defense Sector Growth To Bolster Its Position & Capitalively Grow In Critical Markets!

ATI reported robust first-quarter financial results for 2025, showing continued strong momentum.
Revenue grew by 10% year-over-year, reaching approximately $1.14 billion, mainly driven by high demand in aerospace and defense (A&D).
The company’s adjusted EBITDA of $195 million exceeded expectations, with adjusted earnings per share also surpassing the top of guidance.

Rubrik Inc.: Increasing Adoption of Rubrik’s Security Cloud

Rubrik recently reported strong financial performance in its first-quarter fiscal year 2026, showcasing robust growth and an enhanced market position within the cyber resilience space.
The company’s subscription ARR reached approximately $1.2 billion, marking a 38% year-over-year increase.
Net new subscription ARR also saw significant growth at $89 million for the quarter.

TripAdvisor: Enhancing User Experience Through Smart Tech & Personalization But Is It Enough?

TripAdvisor, a prominent player in the online travel space, recently held a conference call to discuss its first quarter 2025 financial results.
The company showcased both triumphs and challenges in navigating the evolving landscape of travel and experiences.
On the positive side, TripAdvisor reported consolidated revenue of $398 million, marking a 1% increase or approximately 3% growth in constant currency.

Intapp Inc.: An Insight into Its Strategic Client Upsell & Cross-Sell Initiatives & Other Major Drivers

Intapp delivered a strong financial performance in its fiscal third quarter of 2025, driven mainly by its cloud and AI capabilities, alongside strategic business expansions.
The company’s Cloud Annual Recurring Revenue (ARR) reached $352 million, representing a year-over-year increase of 28%.
This growth underscored the importance of cloud solutions, which now account for 77% of Intapp’s total ARR of $455 million.

Vishay Intertechnology Expands Smart Grid & AI Footprint: Is It the Next Big Semiconductor Player?

Vishay Intertechnology, a company specializing in semiconductors and passive electronic components, recently reported its first-quarter financial results for 2025.
Here’s a detailed assessment of the quarter’s outcomes and the investment considerations that arise from them.
Revenue for the first quarter stood at $715 million, slightly above the midpoint of their guidance.

How WD-40 Company Is Winning in Emerging Markets with Hybrid Models & Smart Straw Innovation!

WD-40 Company reported its second-quarter results for fiscal year 2025, highlighting a mix of positive growth in sales and ongoing challenges related to foreign currency exchange rates and other macroeconomic factors.
The company recorded net sales of $146.1 million, marking a 5% increase from the previous year.
Adjusting for currency translations, this translates to a 9% increase.

ManpowerGroup: Restructuring Initiatives in Northern Europe to Support Financial Recovery & Future Growth Plans!

ManpowerGroup’s recent earnings revealed a mixed performance for the first quarter of 2025, highlighting both favorable and challenging aspects of its business environment.
The company’s global operations spanning Europe, Latin America, the Asia Pacific, and North America faced varying levels of demand due to economic and geopolitical dynamics, particularly influenced by trade policy announcements in the U.S. which have resulted in heightened uncertainty and cautious client behavior.
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.

Moog Inc.: Advancements in Space & Defense to Solidify Its Position Within The Defense Industry!

Moog Inc.’s financial performance in the second quarter of fiscal year 2025 demonstrated robust sales and strategic adaptability amid potential uncertainties from evolving tariffs.
Overall, the company reported record-level sales of $935 million, which slightly surpassed last year’s second quarter figures.
The company exhibited strength in its Defense, Military Aircraft, and Commercial Aircraft segments, although Industrial sector sales declined, primarily influenced by the company’s simplification initiatives.

Murphy Oil: Will Its Exploration & Development in Emerging Regions Be A Breakthrough Move?

By VRS (Valuation & Research Specialists)

Murphy Oil Corporation recently reported its financial results for the first quarter of 2025.
The company produced 157,000 barrels of oil equivalent per day, with 78,500 barrels daily coming from oil.
The past quarter was marked by several operational challenges, such as unplanned non-operated downtime in the Gulf of America and logistical delays stemming from winter storms in Canada, impacting production by approximately 6,000 barrels of oil equivalent per day.

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Jun 19

Daily Brief United States: NVIDIA Corp, Advanced Micro Devices, Marvell Technology , Under Armour, Trane Technologies , nCino, Integral Ad Science Holding , Guess? Inc, Cintas Corp, Amazon.com Inc and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

NVIDIA CORPORATION Common Stock – June 4, 2025
AMD Advancing AI 2025: Key Takeaways
Marvell Expects Hyper-Growth in Data Center Custom Chips (ASIC) With a Higher Earnings Risk
Under Armour Working On A Bold Restructuring Move; Will It Result In A Retail Rebound?
Trane Technologies: Resilient Residential HVAC Transition…
nCino Inc.: Is The Robust Consumer Lending Momentum Here To Stay?
Integral Ad Science (IAS) Is Doubling Down on Innovation: Will Publica & AI Tools Fuel the Next Revenue Surge?
Guess? Inc.: Will The Rag & Bone Acquisition Be A Game Changer In The Dynamic Fashion Industry Landscape!
Cintas Corporation: Cross-Selling & Expanding Product Portfolio To Up Their Game!
Stock Analysis – AMAZON.COM, INC. Common Stock – May 5, 2025

NVIDIA CORPORATION Common Stock – June 4, 2025

NVIDIA Corporation is a computing infrastructure company that provides graphics, computing, and networking solutions across the United States, Singapore, Taiwan, China, Hong Kong, and other in- ternational markets.
The Company’s shares have been listed in the Nasdaq Composite stock market index since January 22, 1999, and are included among the companies with the highest market capitalization globally.
Additionally, Nvidia’s shares are included in several national indices, such as S&P 500, Dow Jones, NASDAQ-100, and DJ Semiconductors. In May 2024, Nvidia Corporation announced a ten-for-one stock split.

AMD Advancing AI 2025: Key Takeaways

By William Keating

AMD snagged Sam Altman as a guest speaker and advocate for the company’s next generation MI450 accelerator product
Oracle announced their intention to create a zetascale AI cluster based on AMD’s MI355X GPUs
Marvell announced its custom Ultra Accelerator Link (UALink) scale-up offering. Astera Labs will be next in line.

Marvell Expects Hyper-Growth in Data Center Custom Chips (ASIC) With a Higher Earnings Risk

By Nicolas Baratte

Marvell AI event yesterday, good efforts to explain its Data Center / Accelerators roadmap, growth opportunity: ~50% Cagr to 2028, a bit higher than TSMC (45%), lower than AMD (60%).
CEO suggests that data center revenues can increase 4.4x to 2028, total revenue to ~triple to CY28. That’s possible but Marvell’s fragility is margins and lower scalability than AMD, Nvidia.
The nature of custom-designed ASICs is a lot of R&D for a single customer. Marvell GAAP margins are thin and therefore a binary bet on operating leverage.

Under Armour Working On A Bold Restructuring Move; Will It Result In A Retail Rebound?

Under Armour’s fourth-quarter fiscal 2025 earnings report reveals a complex narrative, reflecting both strides in strategic realignment and significant challenges in market execution and financial performance.
On the positive side, Under Armour demonstrated notable progress in several areas, including gross margin improvement, strategic streamlining, and brand repositioning efforts.
The company increased its gross margin by 170 basis points to 46.7%, driven by reductions in product and freight costs, a decrease in promotional activities, and strategic pricing benefits.

Trane Technologies: Resilient Residential HVAC Transition…

Trane Technologies reported strong first quarter results for 2025, showing resilience in a challenging macroeconomic environment.
They achieved an 11% organic revenue growth and a 26% increase in adjusted EPS, largely propelled by their innovations in sustainable solutions and a strategic focus on high-demand sectors like Commercial HVAC.
The company continues to benefit from its robust operating system and strategic direct sales force, which have driven significant market outperformance and growth in bookings across verticals such as data centers, healthcare, and higher education.

nCino Inc.: Is The Robust Consumer Lending Momentum Here To Stay?

In the first quarter of fiscal year 2026, nCino, Inc. reported financial results that provide insights into both its strengths and areas for improvement.
Total revenues reached $144.1 million, marking a 13% year-over-year increase.
This growth was primarily driven by robust subscription revenues, which grew by 14% to $125.6 million.

Integral Ad Science (IAS) Is Doubling Down on Innovation: Will Publica & AI Tools Fuel the Next Revenue Surge?

Integral Ad Science (IAS) presented a mixed but notably strong performance in their Q1 2025 financial results.
The company displayed an impressive 17% growth in revenue to $134.1 million, surpassing their prior guidance.
Growth was largely driven by a 24% increase in their optimization segment, buoyed by the financial services and retail verticals.

Guess? Inc.: Will The Rag & Bone Acquisition Be A Game Changer In The Dynamic Fashion Industry Landscape!

Guess?, Inc. recently reported its first-quarter results for fiscal 2026, revealing a performance that surpassed initial expectations primarily driven by strategic financial management and beneficial acquisitions.
The company’s revenue grew by 9% in U.S. dollars and 12% in constant currency, largely fueled by the acquisition of rag & bone, which added substantial growth to the topline.
Apart from this, core growth from Guess’s wholesale operations in Europe and the Americas also contributed positively.

Cintas Corporation: Cross-Selling & Expanding Product Portfolio To Up Their Game!

By VRS (Valuation & Research Specialists)

Cintas Corporation announced its fiscal 2025 third-quarter results, highlighting both strengths and areas to monitor.
The company demonstrated robust financial performance, reporting an 8.4% increase in total revenue to $2.61 billion, with an organic growth rate of 7.9%.
Despite negative impacts from foreign currency exchange rate fluctuations, the Uniform Rental and Facility Services segment achieved a 7% organic growth, while First Aid and Safety Services and Fire Protection Services reported impressive double-digit growth, suggesting a strong customer value proposition.

Stock Analysis – AMAZON.COM, INC. Common Stock – May 5, 2025

Amazon.com, Inc. is a leading global technology and e-commerce conglomerate based in the United States, with a dominant and expanding presence across international markets, particularly in sectors such as cloud computing, digital streaming, and logistics.
The company’s shares have been listed on the Nasdaq Stock Market since 1997 and are included among the companies with the highest market capitalization globally.
Additionally, Amazon.com’s stock is included in a series of prominent indices, such as the Nasdaq 100, S&P 500, and Dow Jones Industrial Average (DJIA).

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Jun 18

Daily Brief United States: Makemytrip Ltd, Chagee Holdings, Warner Bros Discovery , Base Oil, Natural Gas, Crude Oil, Pharma-Bio Serv and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

MakeMyTrip Placement – Basically a Selldown by Trip.com
Chinese Tea Chain: An Impromptu Snapshot Visit at Sunac Mall – Mixue, Chagee, Goodme, ChaPanda
Weekly Update (WBD, STRZ, MODG)
Global base oils margins outlook: Week of 16 June
[US Nat Gas Options Weekly 2025/24] Henry Hub Slips on Tepid Demand and Subdued Export Flows
[US Crude Oil Options Weekly 2025/24] WTI Surged on Mideast Tensions and U.S.-China Trade Optimism
Asia base oils supply outlook: Week of 16 June
PBSV: Margins Increase and Profitability Returns
Americas/EMEA base oils demand outlook: Week of 16 June
Americas/EMEA base oils supply outlook: Week of 16 June

MakeMyTrip Placement – Basically a Selldown by Trip.com

By Akshat Shah

Makemytrip Ltd (MMYT US) is looking to raise upto US$2.66bn via an equity combo of a 14m share selldown, which could raise around US$1.41bn and US$1.25bn five-year put-three convertible bonds.
The company plans to use the proceeds to buy back Class B shares from Trip.com to lower Trip.com’s voting power in MakeMyTrip to 19.99%.
In this note, we run the deal through our ECM framework and comment on deal dynamics.

Chinese Tea Chain: An Impromptu Snapshot Visit at Sunac Mall – Mixue, Chagee, Goodme, ChaPanda

By Ke Yan, CFA, FRM

We recently visited Guangzhou city, a tier one city in China, on a vacation trip.
One of the malls that we visited happened to have several listed tea chain stores.
We took a snapshot of the shop traffic and noted the difference in locations of various stores. We also ordered tea drinks from two of these stores.

Weekly Update (WBD, STRZ, MODG)

By Richard Howe

Warner Bros. Discovery (WBD) announced on June 9, 2025, its plan to split into two independent, publicly traded companies by mid-2026.
Global Networks will be the entity that is spun-off. It will consist of legacy cable TV and digital networks, such as: CNN, TBS, TNT (including TNT Sports)…
CFO Gunnar Wiedenfels will become CEO of this spun‑off entity.

Global base oils margins outlook: Week of 16 June

Global base oils margins fall as feedstock/competing fuel prices surge.
Sharp fall in base oils margins reflect impact of higher crude/diesel prices rather than any sudden change in base oils supply-demand fundamentals.
Fall in base oils margins comes at a time of year when supply-demand fundamentals are already starting to face downward pressure.

[US Nat Gas Options Weekly 2025/24] Henry Hub Slips on Tepid Demand and Subdued Export Flows

By Suhas Reddy

For the week ending 13/Jun, U.S. natural gas prices fell by 5.4% on the back of mild near-term demand, softening LNG exports, and rising storage levels.
For the week ending 06/Jun, the EIA reported that U.S. natural gas inventories rose by 109 Bcf, higher than analyst expectations of a 108 Bcf build.
Henry Hub OI PCR inched up by 0.86 on 13/Jun compared to 0.85 on 06/Jun. Call OI increased by 4.3% WoW, while put OI grew by 5.5%.

[US Crude Oil Options Weekly 2025/24] WTI Surged on Mideast Tensions and U.S.-China Trade Optimism

By Suhas Reddy

WTI futures surged by 13% for the week ending 13/Jun on the back of rising geopolitical tensions in the Middle East and easing trade tensions between the U.S. and China.
The U.S. rig count fell by four to 555. The oil rig count fell by three to 439, while gas rigs inched down by one to 113.
WTI OI PCR grew to 0.89 on 13/Jun compared to 0.83 on 06/Jun. Call OI rose by 5.9% WoW, while put OI grew by 14.5%.

Asia base oils supply outlook: Week of 16 June

Asia base oils prices slide relative to crude and gasoil prices, triggering fall in margins.
Size and speed of drop in base oils premium to crude/gasoil complicates production and procurement plans.
Any signs of crude oil prices holding at more elevated levels for longer, and base oils margins at lower levels for longer, could put pressure on refiners to cut output.

PBSV: Margins Increase and Profitability Returns

By Zacks Small Cap Research

Pharma-Bio Serv(PBSV) Company Sponsored Research Report

Americas/EMEA base oils demand outlook: Week of 16 June

US base oils demand could get support from expectations of steady-to-higher prices following surge in crude oil prices.
Weakening supply-demand fundamentals previously put pressure on adjustment in base oils prices to reflect that dynamic.
Concern about exposure to lower prices incentivized buyers to limit their procurement plans.

Americas/EMEA base oils supply outlook: Week of 16 June

US base oils margins fall as crude and heating oil prices surge.
Margins had previously been trending lower slowly.
Steady-to-lower margins coincided with muted domestic demand and improving supply fundamentals following completion of most plant maintenance work.

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Jun 17

Daily Brief United States: Live Nation Entertainment, Inc, Ciena Corp, Slide Insurance Holdings, Intel Corp, Caris Life Sciences, Vivos Therapeutics , GameStop, Indus Realty Trust Inc, Keysight Technologies In, Base Oil and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

Select Sector Indices and S&P Equal Weight Rebalance: US$12.7bn Round-Trip Trade Post Capping
Ciena Corporation Reveals Pluggable Optics Power—Is 800G the Next Big Telecom Breakthrough?
Slide Holdings Insurance, Inc.(SLDE): Florida Based Insurer Looking to Ride the Tailwinds of Sector
Intel Is Shrinking (Headcount), Declining (Market Share), but Weakness Can Be a Strength
Caris Life Sciences, Inc. (CAI): Price Bumped Higher, Intersection of Cancer and AI in High Demand
Vivos Therapeutics, Inc: SCN Acquisition Closed; Key Step in Strategic Pivot
GameStop’s Crypto Gamble & AI Facelift: A Meme Stock On Life Support?
Indutrade: Initiation of Coverage- How Europe’s Quiet Giant Is Diversifying to Beat Market Volatility!
Keysight Technologies Taps into 6G & Open RAN—Is This the Future of Wireless Dominance?
Oil Prices Rise as Israel Attacks Iran’s Nuclear Facilities – What We Do

Select Sector Indices and S&P Equal Weight Rebalance: US$12.7bn Round-Trip Trade Post Capping

By Brian Freitas

There are no constituent changes for the S&P 500 INDEX (SPX INDEX) in June but there are capping changes for the Select Sector indices and the Equal Weight Index.
The round-trip trade is US$12.7bn with a big chunk from the Equal Weight Index, Communication Services Select Sector SPDR Fund (XLC US) and Consumer Discretionary Select (XLY US).
The largest flows are expected in Meta, Amazon.com, Alphabet, Broadcom, Live Nation Entertainment, Tesla, T Mobile Us, Exxon Mobil, Fox, Omnicom Group, TKO Group Holdings and Netflix.

Ciena Corporation Reveals Pluggable Optics Power—Is 800G the Next Big Telecom Breakthrough?

Ciena Corporation’s financial results for the fiscal second quarter of 2025 reflect robust performance and strategic positioning within the dynamic networking and telecommunications industry.
The company reported revenue of $1.13 billion, marking alignment with the high end of their guidance, an indicator of successful strategy execution and market demand.
This strong revenue performance is underscored by substantial growth in cloud provider revenue, which represented 38% of total revenue and grew by 85% year-over-year to over $400 million in the quarter.

Slide Holdings Insurance, Inc.(SLDE): Florida Based Insurer Looking to Ride the Tailwinds of Sector

According to our sources, the deal is well-oversubscribed with good diversification from long-only accounts.
Looking at the financial metrics of this company, they wrote premiums of $1.33b in 2024 which was a 52.5% increase from 2023.
The success of the insurance sector as a whole including the strong performance of Ategrity Specialty Holdings (ASIC US) last week will only further enhance the optics of this IPO.

Intel Is Shrinking (Headcount), Declining (Market Share), but Weakness Can Be a Strength

By Nicolas Baratte

Intel layoffs now extending to production in US, Israel. Intel’s revenue/employee is half that of AMD, TSMC. An AMD or TSMC employee generates 2x more revenue than an Intel employee.
Intel shareloss in PC, Server continues. Over the past 4 years Intel lost 6 percentage points PC market share (down to 76%), 13 percentage points in server (down to 73%).
Intel is now without an AI / GPU roadmap. It looks bad but the twist is it helps Intel requalify with Nvidia DGX, replacing AMD. Weakness breeds strength.

Caris Life Sciences, Inc. (CAI): Price Bumped Higher, Intersection of Cancer and AI in High Demand

Caris Life Sciences increased the price range on its IPO on Monday ahead of a Wednesday scheduled debut.
According to our sources, the deal is multiple-times oversubscribed with a mix of new and existing investors. There are multiple mutual-fund anchor orders in the book.
Given how important this company’s technology is to the cancer arena and the revenue growth that is “ramping” into the IPO, we like the risk-reward profile of this deal.

Vivos Therapeutics, Inc: SCN Acquisition Closed; Key Step in Strategic Pivot

By Water Tower Research

SCN acquisition closed, marking a pivotal milestone in the new marketing model.
Vivos completed the acquisition of the Sleep Center of Nevada (SCN), paying $6.0 million in cash and $1.5 million in stock upfront.
SCN remains eligible for an additional $1.5 million contingent stock payment if a financial milestone is achieved.

GameStop’s Crypto Gamble & AI Facelift: A Meme Stock On Life Support?

GameStop, the once-mighty video game retailer turned meme stock sensation, is back in the headlines—but not for reasons that inspire confidence.
The company recently announced a $1.75 billion offering of 0% convertible senior notes due 2032, triggering a nearly 20% plunge in its share price.
Investors were spooked not only by the prospect of future dilution but also by GameStop’s new strategy: pouring hundreds of millions into Bitcoin, mimicking the controversial playbook of MicroStrategy.

Indutrade: Initiation of Coverage- How Europe’s Quiet Giant Is Diversifying to Beat Market Volatility!

Indutrade AB’s recent quarterly earnings present a nuanced picture of its current operational and financial health.
The company reported a 5% organic growth in order intake amidst an uncertain market environment.
This was primarily driven by strong demand in sectors such as pharmaceuticals, the broader process industry, and energy.

Keysight Technologies Taps into 6G & Open RAN—Is This the Future of Wireless Dominance?

Keysight Technologies reported its fiscal second quarter 2025 earnings, highlighting several key aspects that investors may find noteworthy.
The company delivered a robust performance, with revenues at $1.3 billion and earnings per share of $1.70, both exceeding the high-end of guidance.
This performance marks continued revenue growth, driven by strong demand in the Communications Solutions Group (CSG) and a return to growth in the Electronics Industrial Solutions Group (EISG).

Oil Prices Rise as Israel Attacks Iran’s Nuclear Facilities – What We Do

By The Commodity Report

YTD our absolute return strategy is up 12,0% Oil Prices Rise as Israel Attacks Iran’s Nuclear Facilities – What We Do Friday was marked by panic buying safe haven assets.
Gold and Crude went up, risk assets went down. We’re now in a time of mass geopolitical uncertainty and related volatility.
Therefore we think it is important to keep a cool head in such situations and don’t let headlines and breaking news change investment behavior.

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Jun 16

Daily Brief United States: BILL Holdings , Walmart, Warner Music Group and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

2024 High Conviction Update: BILL Holdings, Attractive Valuation Levels To Unwind Bearish Positions
Walmart Raises Alarm on Tariffs: What Shoppers Need to Brace For!
Warner Music Group Is Fighting AI With the NO FAKES Act—Why It Could Change the Industry Forever!

2024 High Conviction Update: BILL Holdings, Attractive Valuation Levels To Unwind Bearish Positions

By Andrei Zakharov

BILL Holdings shares have materially underperformed year-to-date and fell ~51%. Shares saw selling pressure post 2QFY25 earnings as results indicated weak outlook.
I see limited room for downside given current valuation of ~3x 2025E EV/Revenue (with ~13% growth) and recent acquisition of AvidXchange at a higher multiple.
I believe BILL’s current attractive valuation levels can be viewed as opportunity to unwind bearish positions and valuation looks more reasonable vs. peers, especially AvidXchange.

Walmart Raises Alarm on Tariffs: What Shoppers Need to Brace For!

Walmart reported a solid first quarter for fiscal 2026, with results exceeding analysts’ expectations and reflecting resilience amid a volatile economic environment.
The company posted adjusted earnings of 61 cents per share, surpassing the 58-cent consensus estimate, and saw revenue grow 2.5% year over year to $165.6 billion.
U.S. same-store sales rose 4.5%, outpacing the projected 3.9% increase.

Warner Music Group Is Fighting AI With the NO FAKES Act—Why It Could Change the Industry Forever!

Warner Music Group (WMG) reported its fiscal second-quarter results for the period ended March 31, 2025.
The company’s financial performance during this period was relatively stable, although it faced a variety of challenges impacting growth.
Total revenue increased by a modest 1%, with Recorded Music revenue also growing by 1% and Music Publishing revenue by 3%.

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Jun 15

Daily Brief United States: Lam Research, Newmont , NVIDIA Corp, Palantir Technologies , Dick’s Sporting Goods, Elastic NV, C3.ai Inc, Inter Parfums, Dell Technologies , Genesis Healthcare and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

MV US Listed Semiconductor 25 Index Rebalance: US$1.2bn Round-Trip Trade
Newmont Corporation (NYSE: NEM) – Strong Q1, Tier 1 Growth Ahead, Significant Upside if Gold Holds
[Quiddity Index] MV US Semiconductor Jun25 Rebalance Results: Flow Expectations
Palantir’s Parabolic Surge: Meme Stock Mania Or AI Megatrend in Motion?
DICK’S Sporting Goods Is Betting Big on Youth Sports—and It Could Be a $40 Billion Win!
Elastic Ramps Up Cybersecurity Assault with Bold Security Platform Expansion!
C3.ai Strikes Gold with Powerhouse Partnerships—Is Big Tech Its Secret Weapon?
Interparfums Unveils Bold Luxury Push with New Premium Brand Additions!
Dell Technologies: AI Server Integration & Backlog Growth As A Pivotal Growth Lever!
GEN Digital Is Tapping Into Telecom & Employers—Can This Be The Biggest Driver Of Its Future Growth?

MV US Listed Semiconductor 25 Index Rebalance: US$1.2bn Round-Trip Trade

By Brian Freitas

There are no constituent changes for the VanEck Vectors Semiconductor (SMH US) ETF in June but there are a lot of float and capping changes.
Estimated one-way turnover is 2.5% resulting in a round-trip trade of US$1.2bn. Impact on the stocks is small given they are highly liquid.
There will be more flows in a lot of these stocks from trackers of the Technology Select Sector SPDR (XLK US). Broadcom (AVGO US) will have largest outflows.

Newmont Corporation (NYSE: NEM) – Strong Q1, Tier 1 Growth Ahead, Significant Upside if Gold Holds

By Rahul Jain

Recent Results: Newmont delivered a strong Q1 2025 performance with record free cash flow of $1.2 billion, driven by higher gold prices and increased production from Tier 1 assets.
Future Plans: The company plans to ramp up Tier 1 output to ~6.7 Moz by 2028, led by projects like Ahafo North, Tanami Expansion 2, and Cadia block-cave development.
Valuation Upside: If current gold prices around $3,400/oz persist, Newmont’s earnings could double vs. consensus, unlocking over 50% potential upside from current share levels.

[Quiddity Index] MV US Semiconductor Jun25 Rebalance Results: Flow Expectations

By Travis Lundy

The MV US Listed Semiconductor 25 index represents the performance of the biggest US-listed companies in the semiconductor industry.
There will be no index changes for the June 2025 rebalance event.
We expect a one-way flow of US$700mn for June 2025.

Palantir’s Parabolic Surge: Meme Stock Mania Or AI Megatrend in Motion?

Palantir Technologies has become one of Wall Street’s most polarizing success stories in 2025.
Riding a 76% year-to-date gain and clocking in at more than 460% over the past 12 months, the company’s stock has reached new highs, closing at a record for three consecutive sessions earlier this month.
The surge puts it in league with speculative darlings like CoreWeave and even evokes comparisons to meme stock veterans such as GameStop.

DICK’S Sporting Goods Is Betting Big on Youth Sports—and It Could Be a $40 Billion Win!

DICK’S Sporting Goods’ recent earnings revealed a robust performance in the first quarter of fiscal 2025, reflecting the effectiveness of its long-term strategies and operational improvements.
The company reported a 4.5% increase in comparable store sales, marking the fifth consecutive quarter of such growth, and achieved a consolidated sales increase of 5.2% to $3.17 billion.
These results were underpinned by a rise in both average ticket value and transaction volume, demonstrating strong consumer demand and engagement with DICK’S product offerings.

Elastic Ramps Up Cybersecurity Assault with Bold Security Platform Expansion!

Elastic N.V. reported a strong fourth quarter, capping off fiscal 2025 with solid growth metrics and notable strategic advancements.
The company’s revenue grew by 16% year-over-year, with Elastic Cloud revenue increasing by 23%, reflecting sustained demand for their solutions.
Elastic’s efforts to penetrate both the enterprise and mid-market segments have borne fruit, as evidenced by the net increase in large customers—those spending over $1 million annually—by approximately 45 this year.

C3.ai Strikes Gold with Powerhouse Partnerships—Is Big Tech Its Secret Weapon?

C3.ai has demonstrated dynamic progress and significant strides in its fiscal year ending April 30, 2025, highlighted by impressive growth metrics and strategic advancements.
The company reported a 25% year-over year revenue increase, reaching $389.1 million, marking three consecutive years of accelerating revenue growth.
This upward trajectory underscores the company’s effective strategies in the expansive Enterprise AI market.

Interparfums Unveils Bold Luxury Push with New Premium Brand Additions!

Interparfums reported a 5% increase in net sales for the first quarter of 2025, with a 7% growth on a like-for-like basis.
These results were driven by strong performances from brands such as Coach, Jimmy Choo, and Donna Karan, as well as newer entries like Lacoste and Cavalli.
The company’s diverse product launches and agile supply chain supported its ability to adapt rapidly to market demands, although some challenges remain due to a shifting global landscape.

Dell Technologies: AI Server Integration & Backlog Growth As A Pivotal Growth Lever!

Dell Technologies Inc.’s fiscal year 2026 first quarter financial results provide a mixed but generally positive view of the company’s current performance and future prospects.
The company reported revenue of $23.4 billion, a growth of 5% year-over-year.
This increase was driven by robust performance across its core markets, particularly in Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG), each growing by 8%.

GEN Digital Is Tapping Into Telecom & Employers—Can This Be The Biggest Driver Of Its Future Growth?

Gen Digital’s latest financial results and strategic developments present a balanced picture of growth and ongoing transformation within the company.
During the fiscal year 2025, Gen Digital demonstrated solid financial performance, highlighted by a record revenue of nearly $4 billion, a 4% year-over-year increase, and a non GAAP operating margin of 58.4%.
This growth was driven by strong demand across Gen’s core cyber safety offerings, including security, privacy, and identity theft protection solutions.

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Jun 14

Daily Brief United States: Crude Oil, Medtronic Plc, Advanced Micro Devices, Bitcoin, Jefferson Capital, U-Haul Holding , Lands’ End Inc and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

Key Markets Tactical Outlooks After Israel Strike on Iran
Medtronic Plc. (NYSE: MDT) To Separate Its Diabetes Business
AMD Claims Its New GPU Is on Par with Nvidia, Its Software Platform ROCm Beats CUDA for Inference.
Crypto ETFs: Global Landscape, Market Dynamics, and Outlook
Jefferson Capital Inc (JCAP): Profitable Insolvency Account Manager Sets Terms for IPO
UHAL: U-Haul Holding Company Reports 4Q and full-year FY2025 Results. Revenues were above expectations in the seasonally slow 4Q
LE: Snapping the Catalog: Tote Girls Rule; Reiterate Buy, $20 PT

Key Markets Tactical Outlooks After Israel Strike on Iran

By Nico Rosti

A quick look at the tactical forecast models for some key markets impacted by the Israeli attack to Iran on June 13th.
We analyze: Crude Oil Futures (CL1 COM COMDTY) , Gold Futures (GOLD COMDTY) , Nasdaq-100 Index (NDX) , Nikkei 225 Index, Hang Seng Index and NIFTY Index
Keep in mind that high volatility can push easily a market into the model’s tails, and forecasts in tails area rely on less data (i.e. less accurate).

Medtronic Plc. (NYSE: MDT) To Separate Its Diabetes Business

By Garvit Bhandari

The separation will occur via a two step transaction – an initial minority IPO carve-out followed by a split-off of the remaining stake.
Two-Step separation allows investors an early opportunity to assess and value the Diabetes business independently, while Medtronic ultimately divests full ownership over time. Diabetes business could be valued between $8-$11B.
The move will allow Medtronic to focus on its faster-growing, higher-margin businesses such as pulsed field ablation and renal denervation.

AMD Claims Its New GPU Is on Par with Nvidia, Its Software Platform ROCm Beats CUDA for Inference.

By Nicolas Baratte

AMD launched MI300-355. AMD claims that for training MI355 is on par with Nvidia’s B200. For inference MI355 generates more token per $, has a better TCO. MI350 shipped May-25
AI addressable market: AMD maintains its $500bn by 2028 estimate, 60% Cagr “or exceeding that”. Inference will grow faster, over 80% Cagr.
AMD stock is cheap, has bottomed out, the roadmap is more competitive, etc. For investors looking for an alternative to Nvidia and TSMC, AMD is the best alternative imo.

Crypto ETFs: Global Landscape, Market Dynamics, and Outlook

By Animoca Brands Research

Significant Growth & Untapped Potential: While global crypto ETF AUM has reached $168.3B, this represents a small fraction of the $14.8T global ETF market and the $128T total global AUM, indicating a vast addressable market and substantial room for future expansion. We project the global crypto ETF AUM to potentially exceed $1T in five years, over 6x the current level.
US Dominance in AUM, Europe in Variety: The US leads globally with $144.3B in crypto ETF AUM (85.7% market share), largely driven by the successful launch of spot Bitcoin ETFs. Europe, while smaller in AUM ($15.3B), offers a wider array of altcoin ETFs. Canada and Hong Kong have also emerged as important regional hubs.
Quantitative Spotlight on US Market Dynamics: Daily net flows into spot ETFs show a positive but modest correlation with Bitcoin price changes (0.34) and a very weak correlation for Ethereum (0.13). Coupled with low R-squared values, this indicates that spot ETF flows, while impacting underlying crypto price, are just one of many factors

Jefferson Capital Inc (JCAP): Profitable Insolvency Account Manager Sets Terms for IPO

By Small Cap Consumer Research

Jefferson Cap is offering 10.0mm shares at $15.00-$17.00 equating to a market cap of $972m-$1.1b and will debut on June 26th.
The company is backed by J.C. Flowers and the majority of this IPO, 9.375mm shares, is secondary with J.C. Flowers offering 7.76mm shares and Canaccede offering 1.6mm.
Debt buying companies have a vastly different profile than a Chime, CoreWeave or Voyager or Circle which has major, scalable tailwinds.

UHAL: U-Haul Holding Company Reports 4Q and full-year FY2025 Results. Revenues were above expectations in the seasonally slow 4Q

By Zacks Small Cap Research

U-Haul Holding Company is the parent company of U-Haul International, the world’s largest consumer truck and trailer rental company.
U-Haul is also the third largest self-storage operator in North America.
U-Haul benefited from a step up in top-line demand for self-moving services during the pandemic, namely in FY2021 & FY2022.

LE: Snapping the Catalog: Tote Girls Rule; Reiterate Buy, $20 PT

We are reiterating our Buy rating, $20 price target and projections for Lands’ End as we review the June catalog.
Picking up on a theme from last month, the June catalog focus is on the Lands’ End “tote girl.” The company has continued to leverage the popularity of their totes (the most purchases Lands’ End item) and an overall trend towards personalization and embellishment, to capture a younger customer and drive multiple item purchases.
For June, the focus remains on swimwear (now at 50% off), and great new looks for the Lands’; End summer lifestyle, from a new linen collection, dresses, the emerging swim dress category and fitted tops and cotton sweaters.

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Jun 13

Daily Brief United States: Qualcomm Inc, Sui, Apimeds Pharmaceuticals US, Crude Oil, Chime Financial, JAKKS Pacific , Aethlon Medical and more

By Smartkarma Daily Briefs | Daily Briefs, United States

In today’s briefing:

Alphawave Ditches WiseWave Before Embracing Qualcomm Bid. But Why?
Sui (SUI): High Valuation, Early‑Stage Adoption
WTR Biotech Spotlight Podcast Recap Apimeds Pharmaceuticals US, Inc. (APUS)
[ETP 2025/24] WTI Rises on Trade Hopes, Geopolitics; Henry Hub Slips on Weak Near-Term Outlook
Chime Financial, Inc. (CHYM): Rips 59% at Open, IPO Dips the Rest of the Day
JAKK: Further Tariff Proofing the Model Post Mgmt. Meetings; Reiterate Buy
Long COVID is estimated to lead to about $2b-$6.5b of related costs/year for the ~44 to 48m people suffering in the U.S.

Alphawave Ditches WiseWave Before Embracing Qualcomm Bid. But Why?

By William Keating

Qualcomm’s recently rumoured desire to acquire UK-listed Alphawave finally came to fruition on June 9 with a US$2.4 billion offer
Just two days earlier, on June 7, Alphawave announced that the company had disposed of its interest in China-based JV, WiseWave Technology
What is WiseWave Technology, why did Alphawave invest in it and why is it now divesting that interest prior to the Qualcomm acquisition?

Sui (SUI): High Valuation, Early‑Stage Adoption

By Tatja Karkkainen

Sui commands an ~US$11 bn market cap (FDV US$34 bn) barely two years after launch, yet real‑world usage is still embryonic.
Claimed throughput of 297 k TPS contrasts with currently observed ~48 TPS (peak 335).
A restrictive validator set, modest staking yields, looming token unlocks, and limited developer traction undermine the decentralisation and growth narrative.

WTR Biotech Spotlight Podcast Recap Apimeds Pharmaceuticals US, Inc. (APUS)

By Water Tower Research

Apimeds US is a clinical-stage biopharma company that is developing an intradermal bee venom-based toxin, Apitox, for pain associated with inflammatory conditions, including knee OA and multiple sclerosis (MS), for the US market.
Apitox is licensed from Apimeds, Inc. in South Korea (Apimeds Korea), where the therapy has Korean approval as Apitoxin for treatment of OA.
Honeybee venom has anti-inflammatory and analgesic properties.

[ETP 2025/24] WTI Rises on Trade Hopes, Geopolitics; Henry Hub Slips on Weak Near-Term Outlook

By Suhas Reddy

For the week ending 06/Jun, U.S. crude inventories fell by 3.6m barrels (vs. expectations of a 2.4m barrel decline). Meanwhile, gasoline and distillate stockpiles rose more than expected.
The EIA reported a 109 Bcf storage build, while analysts forecasted a 108 Bcf increase. Storage levels are 5.4% above the five-year average but 8.6% below year-ago levels.
Shell targets 12 MMT of new LNG capacity by 2030, while TotalEnergies partners with Mistral AI to enhance its low-carbon, multi-energy strategy using artificial intelligence.

Chime Financial, Inc. (CHYM): Rips 59% at Open, IPO Dips the Rest of the Day