In today’s briefing:
- Infosys Buyback: Tax-Inefficient for Shareholders?
- Changhong Jiahua (3991 HK): Expect Sichuan Changhong To Make An Offer
- Western Digital Corporation: Can They Build A Strong Competitive Positioning In The AI-Driven Economy?
- Lam Research Corporation: Advanced Packaging Technologies
- MV US Listed Semiconductor 25 Index Rebalance: Capping Leads to US$3bn Trade
- Oracle’s $300 Billion OpenAI Deal Sends It Skyward—But Can It Stick The Landing?
- Freebit Co Ltd (3843 JP): Q1 FY04/26 flash update
- Tenable Holdings: Its Tenable One Platform Traction As A Pivotal Growth Driver!
- Via Transportation (VIA): Above-Range Ticket, Below-Range Start — Via IPO Finds Its Route
- Vimeo’s AI Pivot Just Landed It A $1.38 Billion Payday—Here’s The Real Reason Why!
Infosys Buyback: Tax-Inefficient for Shareholders?
- Infosys Ltd (INFO IN) made headlines in the market after approving share buyback worth INR 180 bn at INR 1800 per share.
- The buyback is the largest in company’s history and represents 2.4% of the paid up capital.
- However, from the shareholders lens, the buyback would be tax-inefficient, after the regulatory changes which came in effect from Oct 2024.
Changhong Jiahua (3991 HK): Expect Sichuan Changhong To Make An Offer
- Changhong Jiahua Holdings (3991 HK) (CJ), which is principally engaged in the distribution of consumer electronic products, is suspended pursuant to the Takeovers Code.
- Sichuan Changhong Electric Co, Ltd. (600839 CH) holds ~60.13% of the shares outstanding. And 100% of the preference shares (76.7% of shares out).
- This week, a final judgement, concerning monies owed, was ruled in CJ’s favour. The sum involved is ~30% of CJ’s market cap.
Western Digital Corporation: Can They Build A Strong Competitive Positioning In The AI-Driven Economy?
- Western Digital Corporation reported strong fourth-quarter fiscal 2025 financial results, showcasing increased demand driven chiefly by the data center market, predominantly through hyperscale customers.
- The company generated $2.6 billion in revenue, which constituted a 30% yearly increase, and achieved a non-GAAP gross margin of 41.3%.
- This result was driven by the mix shift toward higher capacity drives and effective cost management.
Lam Research Corporation: Advanced Packaging Technologies
- Lam Research Corporation’s recent financial performance and strategic direction offer a balanced picture of its current and future potential.
- The company reported impressive results for its June 2025 quarter, with revenues and profitability reaching the upper end of guided ranges.
- Significantly, gross margins exceeded 50% for the first time since the merger with Novellus, and earnings per share hit a new company high.
MV US Listed Semiconductor 25 Index Rebalance: Capping Leads to US$3bn Trade
- There are no constituent changes for the VanEck Vectors Semiconductor (SMH US) ETF in September but there are a lot of float and capping changes.
- Estimated one-way turnover is 5.25% resulting in a round-trip trade of US$3bn. Taiwan Semiconductor (TSMC) – ADR (TSM US) is the largest impact passive sell.
- There will be more flows in a lot of these stocks from Technology Select Sector SPDR (XLK US) at the close on Friday.
Oracle’s $300 Billion OpenAI Deal Sends It Skyward—But Can It Stick The Landing?
- Oracle Corporation has catapulted into the center of the artificial intelligence (AI) race with a landmark $300 billion cloud infrastructure deal with OpenAI, positioning itself as the new backbone of AI computing.
- The agreement, which spans five years starting in 2027, is one of the largest cloud contracts in history and has already helped Oracle lock in a record $455 billion in remaining performance obligations (RPO).
- This unprecedented backlog of contracted revenue reflects surging demand from major AI players including Meta, xAI, NVIDIA, and AMD.
Freebit Co Ltd (3843 JP): Q1 FY04/26 flash update
- In Q1 FY04/26, the company reported revenue of JPY15.2bn, operating profit of JPY1.7bn, and net income of JPY1.1bn.
- Business support services for MVNOs expanded, resulting in revenue growth of 12.7% YoY and operating profit increase of 53.3% YoY.
- Revenue for 5G Homestyle service increased 11.3% YoY to JPY6.9bn, while operating profit rose 19.3% YoY.
Tenable Holdings: Its Tenable One Platform Traction As A Pivotal Growth Driver!
- Tenable Inc.’s earnings for the second quarter of 2025 reflected both strengths and areas for continued focus, showcasing the company’s efforts in expanding its exposure management platform.
- With a reported 12% year-over-year revenue growth reaching $247.3 million, the company’s momentum is attributed to the increased adoption of its exposure management platform, Tenable One.
- Of particular note, Tenable One comprised 40% of new sales for the quarter, emphasizing a growing customer demand to unify risk visibility and management across various cyber domains.
Via Transportation (VIA): Above-Range Ticket, Below-Range Start — Via IPO Finds Its Route
- Via Transportation priced its public offering at $46.00 per share, above the marketed range of $40–$44, but opened at $44.00, down 4.5% from issue.
- Investors quickly stepped in, and within 30 minutes, the stock climbed above the IPO price. The stock closed at $49.51 or 7.6% above issue.
- Looking forward, we see Via as a potential long-term play, given the sticky nature of its contracts and the enormous opportunity to modernize public transportation infrastructure.
Vimeo’s AI Pivot Just Landed It A $1.38 Billion Payday—Here’s The Real Reason Why!
- Vimeo Inc., the once high-flying video hosting platform, is set to be acquired by Bending Spoons in an all-cash deal worth approximately $1.38 billion, or $7.85 per share.
- This price implies a hefty 91% premium over Vimeo’s 60-day volume-weighted average share price prior to the announcement, underscoring the significance of the offer.
- The transaction has been unanimously approved by Vimeo’s Board and is expected to close in Q4 2025.
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