In today’s briefing:
- Asia base oils supply outlook: Week of 5 May
- APPLE (AAPL US) Post-Earnings Outlook: A Potential Tactical Buy
- Global base oils arb outlook: Week of 5 May
- Global base oils margins outlook: Week of 5 May
- AMD: 1Q25 Small Beat, 2Q Would Have Been a Large Beat Except for New US Export Restrictions to China
- CISO: Leading cybersecurity provider entering new growth phase with high margin
- CISO: Leading cybersecurity provider entering new growth phase with high margin
- LTRN: IND Clearance for LP-184 in TNBC
- MIRA: Breakthrough Results for Pain Treatment
- Phillips 66: Its Expansion & Integration of Midstream Operations With A Focus On NGLs Might Just Pay Off!
Asia base oils supply outlook: Week of 5 May
- Asia’s base oils prices extend rise vs feedstock/gasoil prices.
- Sustained strength of base oils margins points to limited surplus supply even as firm prices incentivize refiners to boost output.
- Limited surplus supply at end-Q1/early-Q2 2025 follows seasonal rise in demand and heavy round of plant maintenance.
APPLE (AAPL US) Post-Earnings Outlook: A Potential Tactical Buy
- Apple (AAPL US) started a mild pullback after releasing its earnings on May 1st. We think this pullback may be a BUY opportunity.
- Some analysts believe the Trump administration’s tariffs will ultimately prove transitory. While near-term impacts are surely expected for Apple (AAPL US) , they’re probably short-term in nature.
- Our model suggests a potential buying opportunity in Apple (AAPL US) may be approaching. This insight outlines the tactical considerations behind that view.
Global base oils arb outlook: Week of 5 May
- Europe Group III base oils price trends higher vs prices in US and Asia over past two months.
- Europe Group III price trends higher vs domestic Group I price and VGO, holds firm vs domestic Group II price.
- Europe’s firmer Group III price differentials could reflect correction following sustained weakness.
Global base oils margins outlook: Week of 5 May
- Global base oils prices extend rise vs feedstock/competing fuel prices.
- Outright prices mostly hold firm or rise even in face of ongoing dip in crude oil/diesel prices.
- Contrasting trends point to stronger base oils fundamentals relative to crude/diesel.
AMD: 1Q25 Small Beat, 2Q Would Have Been a Large Beat Except for New US Export Restrictions to China
- Good 1Q25, revenue +36% YoY, EPS +55%. Complicated 2-3Q ahead due to US export restrictions cutting down revenue by 1.5bn. This is a one-off. Ignoring this, underlying growth looks strong.
- AMD is gaining share in PC and Server, incl enterprise. GPU offering is still behind Nvidia but improving with MI350 in mid-25, MI400 mid-26. MI400 should be on-par with NVDA.
- The stock is down -45% from Jan-24. Trading on low multiples versus historicals: 17x 2026 EPS or more than -1 stdev below avg. Buy!
CISO: Leading cybersecurity provider entering new growth phase with high margin
- Zacks Small-Cap Research Note for CISO Global, Inc. (CISO)
CISO: Leading cybersecurity provider entering new growth phase with high margin
- Zacks Small-Cap Research Note for CISO Global, Inc. (CISO)
LTRN: IND Clearance for LP-184 in TNBC
- Zacks Small-Cap Research Note for Lantern Pharma, Inc. (LTRN)
MIRA: Breakthrough Results for Pain Treatment
- MIRA Pharmaceuticals(MIRA) Company Sponsored Research Report
Phillips 66: Its Expansion & Integration of Midstream Operations With A Focus On NGLs Might Just Pay Off!
- Phillips 66’s first quarter 2025 earnings overview reflects both strategic advancements and current operational challenges faced by the company.
- Mark Lashier, the Chairman and CEO, emphasized the company’s focus on executing its transformational strategy despite a challenging macro-economic environment in the Refining, Renewables, and Chemicals segments.
- The company reported $487 million in earnings but an adjusted loss of $368 million, attributing this to factors such as accelerated depreciation and the impact of significant turnaround activities, which temporarily affected volumes and margins.
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