Daily Brief Industrials: Golden Energy & Resources, Cummins Inc, Plug Power Inc and more

In today’s briefing:

(Mostly) Asia-Pac Weekly Risk Arb Wrap: Relia, Kingston, Fengxiang, Jafco, Esso, Golden Energy
Cummins Inc: Acquisition Of Siemens’ Commercial Vehicles Business & Other Drivers
Plug Power Inc: Partnership With Nikola Corporation & Other Drivers

(Mostly) Asia-Pac Weekly Risk Arb Wrap: Relia, Kingston, Fengxiang, Jafco, Esso, Golden Energy

There are 43 – mostly firm, mostly Asia-Pac – transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
One new deal was discussed on Smartkarma in the past week: Mitsui & Co’s tilt for Relia Inc (4708 JP).
Key updates took place for: Kingston Financial (1031 HK), Shandong Fengxiang (9977 HK), Jafco Co Ltd (8595 JP), Golden Energy & Resources (GER SP), and Esso Thailand (ESSO TB).

Cummins delivered a mixed set of results for the quarter, surpassing the revenue expectations of Wall Street but missing out on earnings.
Also, through its subsidiary Meritor, Cummins announced the completion of its acquisition of the commercial vehicles business of Siemens.
Demand for the products of the company remained quite strong across its key regions and markets, which resulted in strong revenue in this quarter.

Plug Power delivered another below par result in the quarter, failing to meet Wall Street expectations in terms of revenues as well as earnings.
The management claims that its fully developed green hydrogen platform has the potential to make it profitable.
In the hydrogen and fuel cell industries, Plug Power has a first-mover advantage which drives investor optimism.

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

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