In today’s briefing:
- Hanwha Ocean: Potential Capital Raise of Nearly 2 Trillion Won
- Monthly Container Shipping Tracker | Rates Bottoming | Fuel Tailwind Easing? | (August 2023)
- Uber Technologies Inc.: Breaking the Mold With New Strategies! – Major Drivers
- Ingersoll Rand Inc.: Cracking The Code To Overcoming Global Supply Chain Hurdles! – Major Drivers
Hanwha Ocean: Potential Capital Raise of Nearly 2 Trillion Won
- Hanwha Ocean’s share price declined by 5% today, mainly due to local media reports about a potential capital raise of nearly 2 trillion won to 2.5 trillion won.
- Although the company has not officially announced a rights offering, we believe the probability of Hanwha Ocean announcing a major rights offering is relatively high in the next 3-6 months.
- We estimate this probability range is closer to about 60-70%. The company needs additional capital to improve its highly leveraged balance sheet and to make major investments.
Monthly Container Shipping Tracker | Rates Bottoming | Fuel Tailwind Easing? | (August 2023)
- Our monthly index suggests that container rates have bottomed, with easier comps in H2
- Lower fuel has been a tailwind for carriers for several months, but that could change
- We still think the worst has passed for carriers, a few of which have performed well in ’23
Uber Technologies Inc.: Breaking the Mold With New Strategies! – Major Drivers
- Uber Technologies delivered a mixed set of results in its most recent result, with revenues falling short of Wall Street expectations but above-par earnings.
- However, it has faced its fair share of challenges in the competitive landscape and increasing complexity of marketplace management.
- We give Uber Technologies a ‘Hold’ rating with a revised target price.
Ingersoll Rand Inc.: Cracking The Code To Overcoming Global Supply Chain Hurdles! – Major Drivers
- Ingersoll Rand Inc. managed to exceed analyst expectations in terms of revenue and earnings.
- Revenue and total company organic orders both saw a year-over-year increase.
- While the PST segment margin grew by 240 basis points, the ITS segment margin increased by 200.
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