In today’s briefing:
- Sayona Mining Placement – Has Remained on Schedule with Increased Coverage
- Jiangxi Rimag IPO Preview: Empowering The Future of Medical Imaging Services in China
- L3Harris Technologies Inc.: Launch of Next-Generation NTS-3 Satellite & Other Developments
- ResMed Inc.: On Track to Meet Global Demand for Connected CPAP and APAP Devices – Key Drivers
- Roper Technologies Inc.: A Disciplined Approach to Capital Deployment – Key Drivers
- Etsy Inc.: Can It Really Outperform The Major Indices? – Key Drivers
- IQVIA Holdings Inc.: Major Partnership With CENTOGENE & Other Drivers
- American Airlines Group Inc.: Improving Premium Cabin Demand Is A Positive Sign – Key Drivers
- Exxon Mobil Corporation: Acquisition Of Drilling Rights In Arkansas & Other Drivers
Sayona Mining Placement – Has Remained on Schedule with Increased Coverage
- Sayona Mining (SYA AU) is looking to raise around US$129m in its primary follow-on offering. Proceeds will be used for CAPEX needs and working capital, amongst others.
- The deal is a slightly large one to digest at 17.9 days of ADV and 12.1% dilution.
- In this note, we will talk about the deal dynamics and run the deal through our ECM framework.
Jiangxi Rimag IPO Preview: Empowering The Future of Medical Imaging Services in China
- Jiangxi Rimag Group (JIR HK), a China-based medical imaging center operator and provider of Rimag cloud services, filed for a Hong Kong IPO.
- Jiangxi Rimag Group (JIR HK) was backed by Goldman Sachs, leading VC firms in Asia, Baidu Inc., JD Health, and American healthcare investment firm OrbiMed.
- China’s medical imaging industry is experiencing a remarkable transformation, driven by rapid technological advancements, evolving healthcare needs, and supportive government policies.
L3Harris Technologies Inc.: Launch of Next-Generation NTS-3 Satellite & Other Developments
- It was a successful first quarter for L3Harris as they delivered an all-around beat while building momentum in orders and backlog.
- The company saw top-line growth of 9% across all segments, along with improved operating income in two out of three segments.
- They also reaffirmed their 2023 guidance, with a potential bias towards the higher end of the revenue range due to strong revenue growth and significant orders.
ResMed Inc.: On Track to Meet Global Demand for Connected CPAP and APAP Devices – Key Drivers
- ResMed delivered a strong set of financial results in the last quarter and managed an all-around beat.
- While they are still addressing some supply chain challenges with the AirSense 11 platform, they are on track to meet the global demand for connected CPAP and APAP devices by the end of 2023.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
Roper Technologies Inc.: A Disciplined Approach to Capital Deployment – Key Drivers
- Roper had a strong quarter which happened to be an all-around beat.
- With a solid start to the year, Roper increased its full-year organic growth outlook and EPS guidance, further reinforcing its strong position in the market.
- Roper Technologies’ backlog at the end of the first quarter of 2023 was $4.4 billion, up 14% from the end of the fourth quarter of 2022.
Etsy Inc.: Can It Really Outperform The Major Indices? – Key Drivers
- Etsy reported another strong performance and kickstarted the year with an all-around beat.
- With a roughly 11% increase in revenue to $641 million, the company’s adjusted EBITDA margin was once again very high at 26.6%.
- Etsy also witnessed strong trends in apparel, particularly in personalized and pop culture-related tops, tees, hoodies, sweatshirts, bags, purses, and gift goods.
IQVIA Holdings Inc.: Major Partnership With CENTOGENE & Other Drivers
- The last quarter proved to be yet another successful period for IQVIA as they delivered an all-around beat.
- With an 11% organic growth in revenue, IQVIA demonstrated the strength and diversification of their short- and long-cycle businesses, enabling them to navigate the macroeconomic dynamics effectively.
- The demand environment for the industry remained robust, with global clinical trial activity showing resilience and positive prospects for their commercial business.
American Airlines Group Inc.: Improving Premium Cabin Demand Is A Positive Sign – Key Drivers
- In 2023, American Airlines Group got off to a good start with revenues above expectations in the latest quarterly result as well as an earnings beat.
- In addition to delivering a profit for the quarter, the American Airlines team outperformed its initial EPS projection of roughly breakeven.
- American Airlines is also satisfied with its domestic and short-haul international unit revenue results.
Exxon Mobil Corporation: Acquisition Of Drilling Rights In Arkansas & Other Drivers
- Despite lower energy prices and refining margins, ExxonMobil produced an all-around beat in the first quarter.
- This 250,000 barrel per day development is the biggest refinery addition in the US, helping to meet society’s ongoing demand for transportation fuels.
- In addition, ExxonMobil acquired drilling rights in Arkansas to enter the crucial mineral mining industry.
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