Thematic (Sector/Industry) Archives | Page 32 of 116 | Smartkarma

• Global semiconductor sales reached a all time record high of $627.6 billion in 2024, an increase of 19.1% YoY, details here:
• As anticipated, semi sales eased off in December 2024, reaching $57.0 billion, a decrease of 1.2% MoM but still up 17% YoY.
• WSTS is forecasting 11.2% growth in 2025. Based on the planned ~40% increase in Mag7 CapEx, we think this is too low and needs to be revised upward to >15% 

• US Markets: Stocks closed mixed as investors assessed tariffs and Powell’s testimony. Intel surged 6.5% on AI chip support, while Tesla dropped 5% on BYD’s AI deal.
• Japan: Japan’s current account surplus hit ¥29.26tn in 2024, boosted by foreign investments. Nitori and Nissan announced major investment and restructuring plans.
• Earnings Highlights: SoftBank’s telecom unit saw net income rise 7% to ¥437bn. Shiseido posted an ¥11bn loss, while OMRON raised profit forecasts by 54%.

• ITC Ltd (ITC IN)  revenue growth was driven by its diversified businesses, but profitability was hit by high raw material costs.
• India is shifting its capital expenditure focus from FY25-30 towards energy infrastructure, including power generation and grid integration. 
• China plans to reduce subsidies for renewable energy projects after surpassing its 2030 solar and wind power targets early.

• US semi onshoring plays lifted by Vance comments on US production comments.
• SMCI preliminary numbers after market pointing to big upside for 2026 and 30% uptake in new DC’s.
• Shiseido numbers missed but there were bright spots…enough to cover up the blemishes for a squeeze?

• The US administration has issued a six-month pause on FCPA enforcement, potentially revisiting and scaling back past actions, including those linked to the Adani bribery charges.
• This executive order could alleviate regulatory pressures, offering companies like Adani a temporary reprieve and potentially reshaping global enforcement norms for corporate bribery cases.
• Investors may now see a more balanced regulatory landscape, reducing immediate legal risks for multinational corporations while prompting a reassessment of FCPA’s impact on global business conduct.

• Each week, I’ll share five intriguing investment ideas that recently caught my attention. These ideas are meant to spark your research and help you kickstart the week ahead with fresh insights.
• The ideas will often be concise, with occasional references to valuable work from other practitioners that I encourage you to explore.
• If you have something fascinating to share that could benefit me and the wider community, don’t hesitate to send it my way—I’d love to hear from you!

• Phillip Securities believes Q&M will reverse margin trends as expansion phase ends; DBS bullish on GuocoLand after strong 1HFY2025 results.
• UOB Kay Hian optimistic about Wilmar’s improving China operations; analysts raise DBS’s target prices above $51 on strong capital returns.
• Analysts positive on CLAR post FY2024 results; OCBC Investment Research raises DBS’s target price to $50 after record profits in FY2024 under Piyush Gupta’s leadership.

• As of FY19 PEB was only 2-4% of overall construction, and is projected to reach 5-7% by FY28. Low current share in overall construction indicates high growth potential in India.
• The PEB Sector is rapidly becoming a key pillar of modern infrastructure. Driven by industrialization and urbanization, its adoption is accelerating, especially in the industrial and commercial sectors.
• The Rapid Growth of the PEB Industry in India is driven by industrial demand, infrastructure expansion, and rising adoption in warehouses, data centers, logistics, and commercial buildings.

• The WTR Sustainable Index was up 0.5% W/W versus the S&P 500 Index (down 0.2%), the Russell 2000 Index (down 0.3%) and the Nasdaq Index (up 0.1%).
• Energy Technology (13.3% of index) was down 1.2%, while Industrial Climate and Ag Technology (46.6% of index) was up 0.3%, ClimateTech Mining was up 0.4%, and Advanced Transportation Solutions (21.7% of index) was up 2.0%.
• Top 10 Performers: FGPHF, AZRE, CRE, LTBR, NVVE, OPTT, AMSC, TGEN, VLI, ELBM

• The Senate committee advanced RFK Jr.’s HHS secretary nomination with a vote along party lines, as Senator Bill Cassidy (R) was swayed by numerous promises to not dismantle vaccine policies.
• Even ahead of RFK Jr.’s now likely confirmation, health agencies have faced disruptive changes and uncertainty from Trump’s anti-DEI executive orders.
• The latest was a $4 billion cut to NIH grant funding, reducing support for academic research at universities, hospitals, and other grant recipients. 

• Reduction of personal income tax can lead to an additional aggregate income of INR 1 Lakh crores, which can create additional consumption of INR 5 lakh crores; uplifting GDP.
• USA and China are the good cases studies where such kind of consumption boom happened
• With India at inflection point of $2000 GDP, discretionary consumption set for boom.

• The Dow Jones Industrial Average gained 0.4%, the S&P 500 rose 0.6%, and the Nasdaq jumped nearly 1%, driven by a 3% surge in Nvidia.
• Japan posted a record-high current account surplus of ¥29.26tn in 2024, up 29.5% year-on-year, driven by strong returns on foreign investments
• Elon Musk and investors bid $97B to acquire OpenAI, aiming to restore its non-profit mission, amid legal battles with CEO Sam Altman.

• Continuing review of the sectors we like for the next phase of the HK/China bull market
• In financials, insurers are a lower volatility way of playing the equity market revival
• Watch for a reversal of bond yields as a signal to buy

• Will carbon capture & storage (CCS) enable a boom in low- carbon ethanol and sustainable aviation fuel (SAF)?
• CCS involves capturing CO2 emissions, purifying, transporting, and permanently storing in geological formations underground.
• Low- carbon ethanol and SAF offer among the most compelling opportunities for CCS and are worth attention as (1) ethanol carbon capture is among the lowest-cost CCS applications,

• With the government’s push for consumption through tax relief, the Indian two industry is optimistic about a strong demand in coming months.
• Domestic volumes for Bajaj Auto Ltd (BJAUT IN) and Hero Motocorp (HMCL IN) declined 11% and 2%YoY,respectively,while forTVS Motor (TVSL IN) and Eicher Motors (EIM IN)increased 10% and 15% YoY,respectively
• In the exports segment, Bajaj Auto Ltd (BJAUT IN) , TVS Motor (TVSL IN) , and Eicher Motors (EIM IN) recorded YoY volume growth of 37%, 52%, and 141%, respectively.

• As we previously noted, Chinese housing market started 2025 with a bang but quickly deteriorated. This trend became more pronounced post CNY; 
• Is this a temporary lull from the very strong start? Or it signals something more troublesome in consumption in 2025? 
• We now think our forecasted 25% GTV growth by Beike in C1Q25 is at risk.

• Tencent and NetEase games showed strong during CNY, echoing strong box office showing. Express delivery data suggested robust e-commerce performance;
• However, as a big ticket item with no subsidies support, housing market petered out quickly after CNY, which suggests recovery is still fragile;
• Meituan’s milk tea order volume jumped after introducing social gift functions. Meituan and JD.com are two beneficiaries of social gifting from the GMV angle with Tencent from the advertising angle.

• Continuing the trend from December’24, wholesale volume growth in Jan’2025 remained strong in the passenger vehicle segment. This was driven by channel filling, and strong rural demand.
• Maruti Suzuki India (MSIL IN),holding approximately 43% market share, reported growth in both the utility vehicle (UV) and compact SUV segments. Mahindra & Mahindra (MM IN) reported 18% YoY growth.
• Hyundai Motor India (HYUNDAI IN) & Tata Motors Ltd (TTMT IN) reported decline in volume growth. Tax initiatives introduced in recent Union Budget are expected to increase demand in medium term.

• Our Hardman & Co Insight of October 2024 looked forward to the first Labour Budget for 14 years.
• The main theme was that, because the new Chancellor, Rachel Reeves, had ruled out increases in taxes on ‘working people’, investors would bear the brunt of any tax increases to fill the alleged £22bn hole in the public finances left to the new government by the Tories.
• The pain that was going to be suffered was increased by the aim to raise some more to improve public services, so Reeves booked £40bn of tax rises.

• Wolters Kluwer Financial & Corporate Compliance (“FCC”) has signed an agreement to acquire Registered Agent Solutions, Inc. (“RASi”) for approximately USD 415m in cash.
• The acquisition will expand the presence of FCC Legal Services (“CT Corporation”) with small businesses, middle-market companies and law firms in the U.S.
• RASi serves thousands of customers across all 50 U.S. states and the District of Columbia. 

• US stocks fell on Friday, with the Dow Jones Industrial Average plummeting over 400 points, due to concerns over tariffs and inflation.
• Key inflation data is due out next week, including January’s consumer price index (CPI) and wholesale inflation figures, which may impact investor sentiment.
• Major companies, including McDonald’s, Coca-Cola, and Unilever, will report earnings next week, providing insight into the health of the consumer sector.

• Abnormally high growth during CNY of the express delivery parcel data showed social gift giving likely bumped up 20ppt YoY growth this CNY;
• BYD plans to extend ADS to its low priced cars. 2025 will be a year L3 ADS extending to mainstream EV’s now this prediction is even conservative;
• Chinese EV makers are launching free price wars. But zero financing may be prompted by the banks, not by EV makers, mitigating margin impact.

• Daiichi Sankyo has announced that Dato-DXd has been recommended for approval in EU. Astellas Pharma has submitted new drug application for conditional approval of Izervay for Geographic Atrophy in Japan.
• SanBio has successfully secured the planned production yield for the second commercial production run to meet the approval conditions for the shipment of Akuugo suspension for intracranial implantation.
• IHH Healthcare is seeking compensation of INR109.3B from Daiichi Sankyo for its stake buy in Fortis Healthcare. Dr. Reddy’s Laboratories entered licensing agreement with Shanghai Henlius Biotech for Darzalex biosimilar.

• 2025’s Chinese New Year (CNY)  closed with a bang. Home appliances, mobile phones and general merchandises were robust.  Catering saw steady growth and box office hit a record high;
• Domestic travel was vibrant. So was inbound overseas travel. But outbound overseas travel was in the doldrums on several unfavorable incidents involving kidnapping in Thailand and flu in Japan; 
• We predict a 65% chance of a housing resurrection post CNY.  We observe an improvement in consumer sentiment as life gradually returning to normal. 

• This note is a weekly (select weeks on SK) curated selection of Chinese news articles and company announcements focused on developers in distress
• We look for their deals, updates, specific project progress news (‘local signals’), as well as relevant local research commentaries about the market
• We do not verify the underlying data or provide any opinion, we only select and summarize the information; See direct links to the sources

• Japanese equities fell this week, with the Nikkei losing 2% and Topix down 1.8%.
• Japan’s entertainment stocks have been on a tear over the past six months, and there’s little sign of momentum fading.
• Japan’s economy is heating up, and markets are taking notice. The 10-year bond yield has climbed to 1.29%, the highest in 14 years

• OpenAI’s new AI tool, Deep Research, enables users to quickly gather in-depth research across various sources. It promises to replace hours of manual research with results in just minutes.
• Lenskart is in talks with five investment banks to launch a $1 billion-plus IPO, set for later this month. The eyewear brand, valued at $5 billion.
• Zomato (ZOMATO IN)  has rebranded to Eternal Ltd, signalling its expansion beyond food delivery. The new entity will oversee Zomato, Blinkit, Hyperpure, and District

• RBI has recently lowered its key repo rate by 25 basis points to 6.25%. This is the first such reduction since May 2020, aiming to revive the economy. 
• Nifty 50 index has shown an average absolute return of approximately 38% during four cycles of Interest rates easing in the past 2 decades.
• Positive for banking, real estate, and auto sectors. The Indian economy will likely see higher consumer spending, increased investment, and credit growth, supporting GDP expansion.

• Only Cordiant and Pantheon buck the trend…
• For the remaining 29 quoted Infrastructure Investment Companies (IICs) and the Renewable Energy Infrastructure Funds (REIFs), 2024 was a dire year ‒ as was 2023.
• NAV discounts widened appreciably, while some REIFs, in particular, really struggled.

• Arrow Exploration (AXL LN/CN)C; Target price of £0.80 per share: Appraisal drilling results at Alberta Llanos unlock full field development with horizontal wells – Following the discovery well, Arrow has drilled two new vertical wells at Alberta Llanos, effectively delineating the field.
• The AB-2 well at the far northern limit of the field encountered multiple hydrocarbon-bearing intervals with good reservoir characteristics but came in structurally lower than anticipated, resulting in sub-economic oil rates from the Carbonera sandstones.
• Additional zones can be completed at a later stage.

• Amazon’s Weak Guidance Hits Shares – Despite beating Q4 estimates, Amazon issued softer Q1 guidance, mirroring cloud concerns that also weighed on Microsoft and Google.
• Fed in Focus Amid Jobless Data – Weekly jobless claims rose to 219,000, slightly above estimates, fuelling speculation on the Federal Reserve’s next move ahead of Friday’s jobs report.
• BOJ Hawkish Shift Strengthens Yen – BOJ’s Tamura signalled a rate hike to 1% in FY25, sparking sharp yen gains as USD/JPY fell below 152.

• Singtel’s FY2025 ebit growth guidance may rise to mid-to-high teens from successful cost cuts, according to CGSI.
• IG predicts OCBC will reach $19 and UOB will hit $39.90 in share price.
• SGX reports record revenue and profit in first half, with 1HFY2025 adjusted net profit up 27.3% and increased revenue across all segments. CEO Loh addresses succession concerns.

• Coherent, SMCI, Entegris all posting solid gains, while Skyworks priced in its poor outlook for its Apple biz.
• Monolithic as much as +19% post market setting a better tone for power/analog semi related. Renesas +12.6% yesterday also.
• Tokyo Electron numbers mixed but positive overall and any weakness at the open a good chance for dip buying.

• Trade is transitioning from a globalization-driven model to a more regionalized structure, influenced by geopolitical tensions, national security concerns, and supply chain diversification.
• North America is consolidating its trade networks, China is deepening ties with the Global South, and Europe is prioritizing strategic trade partnerships, signaling a restructuring of global trade corridors
• India’s trade with the US is projected to more than double and trade with the EU, ASEAN, and Africa are forecast to increase by around 80% over the next decade.

• Gold continues to make new highs to little, if any fanfare
• Traditional drivers of gold like lower real rates and a weaker dollar yet to come into play
• What does this mean for the precious metals mining sector and is it time to buy?

• The SA listed property index fell -2.89% in January, reversing December’s gain.  
• There were only eleven listed property companies up out of forty-five.  The majority of large SA REITs disappointed.
• Despite being thousands of miles from the world’s touchpoints South Africa’s markets cannot escape global uncertainty and its negative impact.

• The YTD FY2025 sales volume of commercial vehicle(CV) companies has been soft due to elections,sluggish government capital expenditure and less replacement demand. However,Jan2025 saw a modest uptick in wholesale volume.
• Domestic volumes for Eicher Motors (EIM IN),Mahindra & Mahindra (MM IN),and Ashok Leyland (AL IN) grew by 21%, 2%,and 3% YoY, respectively,while Tata Motors Ltd (TTMT IN) declined by 2%.
• According to industry reports and management interviews, the commercial vehicle industry is expected to remain largely flat in FY2025 and hopes for a positive growth in FY2026.

• Revisiting a sector we have liked for the last 2 years
• We discuss current sector dynamics and why they could be  a potential short
• Recent positive earning surprises from the banks have not moved the stocks

• US stocks recovered, with the S&P 500 gaining 0.4% and Nasdaq rising 0.2%, led by a 5% surge in Nvidia.
• Alphabet slumped 7% on weak cloud revenue, while AMD fell 6% after a disappointing data-centre forecast, fuelling AI investment concerns.
• Japan’s Nikkei edged higher, supported by Toyota’s upbeat forecast, but a stronger yen capped gains amid rising expectations of a BOJ rate hike

• Trump delays tariffs on Mexico and Canada for 30 days after border security deal; Mexico sends 10,000 National Guard troops.
• India’s Finance Ministry and RBI to ease FEMA rules, attract foreign investments, modernize regulations, and review non-financial sectors.
• The new direct tax code bill, effective from April, will simplify existing laws, without new taxes or rate changes.

• Microsoft’s focus on AI resulted in throwing themselves under the bus to keep the AI train going.
• Microsoft’s decision to maintain CapEx numbers for AI semis may not align with street expectations.
• Microsoft’s shift away from AI for small and medium businesses indicates uncertainty about the utility of AI for a large part of the customer base.

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

• Singtel is considering raising their FY2025 ebit growth guidance to mid-to-high teens, attributed to successful cost cutting efforts according to CGSI.
• IG forecast predicts OCBC stock may reach $19 and UOB may rise to $39.90. RHB increases Centurion’s target price and earnings due to higher rate assumptions.
• CGSI maintains ‘add’ rating for Genting Singapore despite slow tourism recovery. However, DBS and RHB cut CDLHT’s target price due to Singapore hotel oversupply.

• SMCI and server cooling names higher on Blackwell rack announcement.
• Pple suppliers Cirrus and Broadcom up in regular trading but Skyworks -23% and Qualcomm -4% after hours.
• Signs that Minebea Mitsumi may be finally reaching a bottom? 

• In an interview with Reuters, ING’s CEO Steven van Rijswijk said his bank is exploring acquisitions in major European markets, including Germany, Italy, and Spain, to expand its presence.
• “We would be looking firstly at businesses that offer certain products, operate predominantly in geographical markets where we are already active and have a strong digital footprint,” the CEO told Reuters.
• Van Rijswijk declined to name any potential targets.

• Tractor volume continued to be strong in Jan’25. Favorable reservoir level, strong sowing for Rabi season and government support are expected to drive good demand for tractors in medium term.
• We summarize the sales volume published by listed players Mahindra & Mahindra (MM IN) , and Escorts Kubota Limited (ESCORTS IN) in January 2025.
• Positive management commentary augurs well for uptick in tractor OEM stocks and related auto ancillary companies like GNA Axles Ltd (GNA IN) in medium term.

• Palantir +24% as AI demand shows no signs of a slow down.
• SMCI giving a business update to help one of Japan’s worst tech performers?
• Estee Lauder -16% as its Asian travel retail business continues to falter setting a bad tone for Shiseido and Kose.

• We highlight small cap companies that experienced significant insider buying during January 2025, as reported on the stock exchanges.
• As January 2025 was a month of earnings season,very few companies reported insider transactions. However,given the correction in Indian market,we should expect increased buy transactions once the earnings season concludes.
• Indoco Remedies (INDR IN) and Insolation Energy (INA IN) have seen good buying by insiders.

• US Market Gains Amid Trade Tensions: Major indices rose, led by Big Tech. Dow +0.3%, S&P 500 +0.7%, Nasdaq +1.4%. China retaliated with new tariffs, but compromise signs emerged.
• Japan Market and Corporate Moves: Nikkei rose 278 yen but failed to breach 39,000 yen. Investors focus on Toyota’s Q3 earnings, while domestic-demand stocks gain on stability concerns.
• Upward Revisions and Earnings Trends: Several firms, including Mitsubishi Heavy, JR Central, and Sumitomo Electric, revised profit forecasts upward, citing strong demand, cost-cutting, and currency benefits.

• CGSI maintains buy rating on Genting Singapore despite slow tourism recovery, indicating confidence in long-term prospects.
• DBS and RHB lower CDLHT target price due to Singapore hotel oversupply, reflecting concerns about industry saturation.
• Market may be overreacting to Digital Core REIT’s Linton Hall data centre, according to DBS, suggesting potential undervaluation.

• Housing and Urban Development Corporation Limited (HUDCO IN)  stock dropped 11% after the government slashed funding for PMAY-Urban in the 2025 Union Budget. 
• India and Russia are in discussions to integrate RuPay and MIR payment systems for mutual transactions. This move comes amid Western sanctions on Russia, aiming to ease transaction challenges visitors.
• Ajay Seth, Secretary of DEA, emphasizes the need for India to invest 7-8% of GDP annually in infrastructure. He urges the private sector to contribute more, particularly through public-private partnerships.

• The global economic landscape is undergoing a significant transformation, marked by a phenomenon known as geo-economic fragmentation (GEF). 
• Between mid-October 2023 and mid-October 2024, the value of trade covered by new restrictions surged to USD 887.7 billion, a staggering half a trillion dollars more than the previous year. 
• The cost of trade fragmentation could range from 0.2% to 7% of the global GDP.

• There is increased collateral risk for banks in Hong Kong and China considering ongoing stresses in real estate in both regions
• China Vanke just issued a Profit Alert indicating a loss during FY24 compared with a profit in preceding year
• Land mark downs are to blame and worsening profit margins and additional provisions for impairments

• US and Canada announced a 30-day pause on planned 25% tariffs late Monday, following a phone call between President Donald Trump and Prime Minister Justin Trudeau.
• Consumer discretionary and tech stocks lagged, with Nvidia, Apple, and Tesla all sliding over 2.5%.
• SoftBank Group and OpenAI have announced a partnership to develop and market “Cristal intelligence,” an Advanced Enterprise AI solution.

• The Economic Survey highlighted potential risks to India’s stock market in 2025 due to high valuations and optimistic sentiments in the US. 
• India’s growing retail investor base adds resilience, but many new investors lack experience with market corrections, increasing vulnerability to US market downturns.
• The survey highlights the historical correlation between Indian and US equities, noting that Nifty 50 declined in 21 out of 22 instances when the S&P 500 corrected by over 10%

• Weak tape for tech over mixed signalling out of White House.
• Kyocera earnings missed but management seem to be pulling the right levers (finally) on the restructuring front.
• Ibiden tarred by the Shinko brush, but what about its NVDA exposure?

• Budget FY26 treads a fine balance between promoting consumption without compromising on fiscal prudence and maintaining continuity on capex.  
• This report highlights the sector and stock-specific impact of announcements
• Nifty50 EPS growth will remain tepid but it could be much better in FY26E. Post the double-digit market correction, Nifty50 large caps seem less expensive (trading at < +1 sd).

• Insider buying activity often signals that a positive shift in the business cycle may be approaching for certain businesses.
• As January 2025 was a month of earnings season,very few companies reported insider transactions. However,given the correction in Indian market,we should expect increased buy transactions once the earnings season concludes.
• Cyient Ltd (CYL IN) witnessed significant buying by the company’s promoters

• Economic growth leads to increased discretionary consumption, with higher income levels driving demand for a broader and more sophisticated range of consumer goods. 
• This pattern suggests opportunities for businesses to innovate and expand their offerings as economies develop.
• With economic progress and higher incomes (US$ 5,000 and beyond), consumers begin to spend more on mobility and durable goods.

• DBS to kick off bank results on Feb 10, emphasis on capital management; Maybank anticipates surprises from DBS and UOB.
• DBS maintained ‘buy’, while OCBC downgraded Starhill Global REIT to ‘hold’ after 1HFY2025 results, resulting in a lowered TP.
• DBS raised Yangzijiang Shipbuilding’s TP to $3.80 due to improved margins and robust orderbook, reflecting an upgrade.

• Rashmi Saluja, CEO and Chairperson of Religare Enterprises (RELG IN) , sues the company to prevent a potential takeover by the Burman family. (promoter family of Dabur India Ltd (DABUR IN))
• JSW Energy Ltd (JSW IN)  revises its FY25 capex target to Rs 10,000 crore, down from Rs 15,000 crore, shifting focus to acquisitions due to sectoral constraints.
• The Union Budget 2025 allocates Rs. 6.81 lakh crore to defence, with Rs. 4.88 lakh crore for revenue and Rs. 1.92 lakh crore for capital expenditure.

• The shrimp industry is recovering from a prolonged slump as Ecuador’s production declines due to power cuts and drought, and India’s adverse weather impacts yield.
• India’s shrimp exports, critical to its seafood trade, are poised to benefit from higher global prices, a recovery in Western demand, and favorable domestic production conditions.
• Rising prices and demand create optimism for India’s shrimp producers, but challenges like competition from Ecuador, cost pressures, and geopolitical risks remain. 

• Welcome back to Monday Delights!
• This is your Monday morning dose of inspiration. Each week, I’ll share five intriguing investment ideas that recently caught my attention. These ideas are meant to spark your research and help you kickstart the week ahead with fresh insights.
• The ideas will often be concise, with occasional references to valuable work from other practitioners that I encourage you to explore.

• U.S. stocks declined Friday as the White House announced new tariffs on Mexico, Canada, and China taking effect Saturday
• Japanese markets ended mixed last week, with NEC leading gains, surging 18.4% on a stock split announcement and upward guidance revision. The broader TOPIX gained 1.4% for the week
• Companies reporting strong results included SCREEN Holdings, TDK, Fujitsu, MOL, Sakura Internet, and ZOZO

• Investor activism and undervaluation are driving renewed interest in the steel sector, with Aichi and Yodogawa Steel facing pressure to unlock shareholder value.
• Asset Value increased their stake in Sharing Tech. It ticks a lot of boxes: strong growth, high profitability, robust cash reserves, & shareholder-friendly policies.
• Nippon Active Value increased its stake in ASKA Pharma due to its strong fundamentals, undervaluation, profitability, and potential for shareholder value enhancement through cross-shareholding reductions.

• Jensen in the White House did little to help NVDA on the spectre of further restrictions.
• NEC +18% in one of its biggest moves ever on Friday as defense takes a bigger role.
• Screen and Lasertec both reported earnings beats but its a mixed bag for both under the hood.

• In its January 2025 meeting, EMA’s human medicines committee (CHMP) recommended eight medicines for approval, including four innovative, three biosimilars, and one generic drugs.
• The committee has also recommended extensions of indication for eight medicines that are already authorized in the EU.
• Marketing applications for two medicines were withdrawn. Among them, withdrawal of Daiichi Sankyo’s datopotamab deruxtecan for non-squamous non-small cell lung cancer is noteworthy.