Daily Brief TMT/Internet: SK Inc, Robotis, Visa, Palo Alto Networks, Cambricon Technologies Lt, LY , Doximity, Epam Systems, Torex Semiconductor, Genpact Ltd and more

• LG plans to cancel its remaining 3.02M treasury shares by next year, effectively wiping out all treasury stock—a clear preemptive move ahead of mandatory cancellation rules.
• Local pension funds are betting SK Inc will do a partial treasury burn before Q4, front-running the 3rd Commercial Act and sending a pro-policy signal.
• The SK treasury burn story offers multiple plays: holdco rerate, SK Inc momentum, and subsidiary rollover as NAV discounts tighten—definitely a multi-layered setup worth active monitoring.

• On 28 August, Robotis (108490 KS) announced a rights offering capital increase of 100 billion won.
• Rights offering plan is to allocate 1,349,528 new shares (10% of outstanding shares) to existing shareholders, and then conduct a public offering for general investors once forfeited shares are issued. 
• The expected rights offering price is 74,100 won per share (12.8% lower than current price). We are Negative on this rights offering.

• AI is becoming more integrated into daily life, including potential use for planning holidays and making payments
• Visa is focusing on innovation to redefine the future of payments, with a history of adapting to new technologies and consumer expectations
• Visa’s chief Product officer discusses the company’s vision for the future of consumer payments and the opportunities they see in the market

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

• Palo Alto Networks (PANW US) is acquiring CyberArk Software Ltd (CYBR US) in a $25B stock-and-cash deal, with shareholders receiving $45 plus 2.2005 PANW shares per CYBR share.
• The transaction is expected to close in the second half of Palo Alto’s fiscal 2026 (February–July 2026), subject to customary regulatory approvals and CyberArk shareholder consent.
• Upon completion, the deal will trigger significant passive flows, with an upweight of Palo Alto Networks (PANW US) and the removal of CyberArk Software Ltd (CYBR US) from relevant indices.

• Shares of Chinese AI chipmaker Cambricon Technologies Corp. Ltd. (688256.SH +3.24%) surged Monday, bringing the company to the brink of unseating Kweichow Moutai Co. Ltd. (600519.SH -2.27%) as the most expensive stock on China’s A-share market.
• Cambricon’s stock closed up 11.4% on Monday at 1,384.93 yuan ($191.07) per share, just shy of the fiery liquor-maker Kweichow Moutai, which closed at 1,490.33 yuan.
• The chip company’s shares have more than doubled since mid-July and have climbed over 562% since September 2024. The rally has pushed Cambricon’s price-to-earnings ratio to 4,463 times, far exceeding Moutai’s 20 times.

• LY is finally moving to integrate LINE and Yahoo more effectively. It has taken too long.
• LINE has 100 million users in Japan and yet until now, there has not been a decent shopping tab within the LINE app to encourage cross-use.
• This is finally happening next month and, along with some AI-based UI and search improvements should help LY maintain parity with Rakuten if not surpass on growth rates.

• Doximity, a professional network for physicians, recently reported its fiscal 2026 first-quarter results.
• The company posted a revenue of $146 million, marking a 15% year-over-year increase, exceeding its guidance by 4%.
• The adjusted EBITDA was $80 million, translating to a 55% margin, which was above the guidance range, reflecting a 21% year-on-year growth.

• EPAM Systems, Inc. reported robust results for the second quarter of 2025, delivering significant growth across multiple dimensions.
• Key highlights of the report include a solid year-over-year revenue increase of 18% to $1.353 billion, with organic constant currency growth of 5.3%.
• This marks the third consecutive quarter of positive organic growth amidst a challenging macroeconomic environment.

• Despite tariffs and geopolitics reshaping global supply chains, the cyclical recovery in the semiconductor market is continuing, while customer inventories remain at low levels.
• This coincides with a full-fledged recovery in PC demand driven by the October Windows 10 end-of-service PC replacement, and rapid diffusion of AI PCs (equipped with dedicated AI accelerators designed to optimize and accelerate AI tasks, providing improved performance and efficiency in handling GenAI workloads without relying on external servers or cloud services).
• Q1 2025 Gartner worldwide PC shipments increased +4.8% YoY, with Q2 +4.4% (the US slowed to flat after frontloading ahead of tariffs), for 1H 2025 +4.7%, entering a full-fledged recovery. 

• Genpact Limited’s financial performance in the second quarter of 2025 presented a mix of strengths and potential challenges for investors to consider.
• The company reported a revenue of $1.25 billion, marking a 7% year-over-year increase, showing robust growth across its business segments.
• Profitability also improved, with gross margin expanding by 50 basis points and adjusted operating income margin increasing by 40 basis points over the previous year.