In today’s briefing:
- 52 Toys Development Co. Ltd Pre-IPO Tearsheet
- Disney’s $875 Million Streaming Comeback and UAE Power Move Could Change Everything!
- MercadoLibre’s Fintech Empire Is Growing: Credit
- Amara (AMA SP): Trading At Terms. Will Be Suspended At Offer Close. Tender/Sell – Or Avoid
- Not the Timing of Annual Securities Report Disclosure, but Rather Company Management Objectives
- TopBuild Corp Is Powering Ahead with Aggressive M&A Playbook To Capture Market Share; What’s Next?
- Prices Drop, Eyes Pop: Insider Buying Update – May 2025 (Small Cap Companies)
- Wynn Resorts: Will Its Global Expansion Efforts & High-Stakes Bet on the UAE Yield Results?
- Upgrading Consumer Discretionary (XLY) To Overweight; 5700-5785 SPX Gap Support Holding as Expected
- Rivian Automotive: Will its Expansion of Production & New Models Help Stay Competitive In A Turbulent EV Market?
52 Toys Development Co. Ltd Pre-IPO Tearsheet
- 52TOYS Development (TOY HK) is planning to raise about US$200m through its upcoming Hong Kong IPO. The lead bookrunners for the deal are Citi, Huatai International.
- 52Toys was established in 2015. The firm is one of the leading IP toy company in China.
- According to CIC, the company was the second-largest multi-genre Chinese IP toy company in terms of China GMV in 2024.
Disney’s $875 Million Streaming Comeback and UAE Power Move Could Change Everything!
- Walt Disney’s second-quarter 2025 earnings report was met with a wave of investor enthusiasm, driving the stock up 11% to over $102.
- This optimism was not only driven by stronger-than-expected financials but also by the high-profile announcement of a new theme park in Abu Dhabi.
- The planned park marks Disney’s seventh globally and is set to be developed in collaboration with the Miral Group.
MercadoLibre’s Fintech Empire Is Growing: Credit
- MercadoLibre, the leading e-commerce and fintech company in Latin America, has reported its financial performance for the first quarter of 2025, showcasing strong growth across its major business segments.
- The company continues to consolidate its position as a key player in both the e-commerce and financial services sectors in the region.
- On the positive side, MercadoLibre has maintained robust growth in net revenues, reflecting the momentum achieved in 2024.
Amara (AMA SP): Trading At Terms. Will Be Suspended At Offer Close. Tender/Sell – Or Avoid
- Back on the 28 April, Amara (AMA SP), a property/hotel play, announced a best-and-final conditional S$0.895/share Offer, a 27% to undisturbed and a lifetime high, from the controlling Teo family.
- This was the Family’s second attempt to take Amara private after its November 2023 best-and-final unconditional Offer at S$0.60/share as discussed in Amara (AMA SP): Teo Family’s Lifetime High Offer.
- The Offeree circ is now out. The IFA says fair & reasonable. The Offer closes on the 10th June – no extension. The Offer is unconditional in all respects.
Not the Timing of Annual Securities Report Disclosure, but Rather Company Management Objectives
- For dialogue with shareholders, annual securities reports should be disclosed in English for overseas investors, who are eager to request the pre-AGM submission and have high demand for this information.
- To change a company to a mindset of dialogue with shareholders rather than controlling AGM, it needs to have a successful experience in converting management to create value through dialogue.
- It’ll be interesting to see if the traditional values of companies, which has been accustomed to management that does not face shareholders, can be changed in the coming years.
TopBuild Corp Is Powering Ahead with Aggressive M&A Playbook To Capture Market Share; What’s Next?
- TopBuild Corp.’s first quarter performance of 2025 reflects a mixed outlook with certain challenges and strengths highlighted across their operations.
- With a reported decline of 3.6% in total sales to $1.2 billion, the company felt the impact of weakened residential construction demand.
- This decline in new residential construction, the company’s largest segment, was partially mitigated by growth in its commercial and industrial sectors.
Prices Drop, Eyes Pop: Insider Buying Update – May 2025 (Small Cap Companies)
- We highlight small cap companies that experienced significant insider buying during May 2025, as reported on the stock exchanges.
- As May 2025 is a earnings season month ,very few companies reported insider transactions. However, we should expect increased buy transactions once the earnings season concludes.
- Real Estate, Media, Power, Industrials and Financial services are top sectors which saw insider buying in the small cap universe.
Wynn Resorts: Will Its Global Expansion Efforts & High-Stakes Bet on the UAE Yield Results?
- Wynn Resorts recently conducted its Q1 2025 earnings review, which showcased both strengths and challenges within its operations.
- This assessment provides a comprehensive analysis of the company’s recent performance and strategic positioning.
- In Las Vegas, Wynn Resorts acknowledged the significant impact of tariffs on its operations, with a pronounced effect on capital expenditures (CapEx) rather than operating expenditures (OpEx).
Upgrading Consumer Discretionary (XLY) To Overweight; 5700-5785 SPX Gap Support Holding as Expected
- A weak 20-year note auction last Wednesday sparked the first semi-meaningful pullback since this lockout rally began April 22nd, when we turned short-term bullish (4/22/25Compass) as SPX was testing 5100-5120.
- We will be watching the 10- and 30-year Treasury yields closely, as both are approaching important resistance levels (more on that below).
- Unsurprisingly, SPX only tested short-term gap support on the pullback at 5700-5785, where we said to expect support in last week’s Compass (5/20/25). Expect this gap support to hold.
Rivian Automotive: Will its Expansion of Production & New Models Help Stay Competitive In A Turbulent EV Market?
- Rivian Automotive Inc.’s latest earnings results present a nuanced view of the company’s current trajectory and strategic plans.
- The first quarter of 2025 showcased Rivian’s efforts to achieve financial and operational milestones, while also highlighting potential challenges it faces in the evolving market landscape.
- On the positive side, Rivian reported a second consecutive quarter of positive gross profit, achieving $206 million.
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