In today’s briefing:
- Merger Arb Mondays (22 Sep) – Technopro, Soft99, Mandom, Pacific Ind, Dongfeng, Shengjing, Smartpay
- Generac Holdings’ Capacity Expansion Plan – Smart Move or Risky Bet on Future Demand?
- FedEx Battles $1B Trade Headwinds With Smart Strategy!
- Monthly Container Shipping Tracker | Sept 1 Rate Increase Failed, Rates Still Down | September 2025
- Stanley Black & Decker: An Insight Into Its Supply Chain Transformation
Merger Arb Mondays (22 Sep) – Technopro, Soft99, Mandom, Pacific Ind, Dongfeng, Shengjing, Smartpay
- I summarise the latest spreads and newsflow of merger arb situations we cover across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Philippines, Thailand and Chinese ADRs.
- Highest spreads: Mayne Pharma (MYX AU), Smart Share Global (EM US), ENN Energy (2688 HK), Dongfeng Motor (489 HK), Oneconnect Financial Technology (6638 HK), Joy City Property (207 HK).
- Lowest spreads: Bright Smart Securities (1428 HK), Pacific Industrial (7250 JP), PointsBet Holdings (PBH AU), Mandom Corp (4917 JP), Humm Group (HUM AU), Fuji Oil Co Ltd (5017 JP).
Generac Holdings’ Capacity Expansion Plan – Smart Move or Risky Bet on Future Demand?
- Generac Holdings, Inc., in its second quarter of 2025 earnings call, reported net sales of $1.06 billion, marking a 6% increase compared to the prior year.
- The growth was driven by a rise in commercial and industrial (C&I) product sales and residential energy storage system shipments.
- Residential product sales increased by 7% due to notable growth in residential energy technology solutions and portable generators.
FedEx Battles $1B Trade Headwinds With Smart Strategy!
- FedEx Corporation recently announced its first-quarter results for fiscal 2026, presenting a mixed bag of positives and challenges.
- On the revenue side, the company showed a 3% year-over-year increase, primarily driven by strength in the U.S. domestic package services.
- Despite this growth in revenue, FedEx faces continuing headwinds from global trade uncertainties and the expiration of a significant contract with the U.S. Postal Service, which together posed a notable financial impact.
Monthly Container Shipping Tracker | Sept 1 Rate Increase Failed, Rates Still Down | September 2025
- Concerted rate increase on Sept 1 failed, deep sea rates are still falling
- Carrier revenues in July-August down ~40% Y/Y, W Coast volumes weak
- We retain our -ive view on container shipping, seek opportunities to Short
Stanley Black & Decker: An Insight Into Its Supply Chain Transformation
- Stanley Black & Decker’s financial results for the second quarter of 2025 highlight a mixed performance amidst a challenging economic environment.
- The company reported revenues of $3.9 billion, a 2% decrease compared to the previous year, with organic revenues down by 3%.
- This decline was primarily impacted by a slow start to the outdoor buying season and disruptions in shipments due to customers’ reactions to tariffs.
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