Publicly traded 3pl companies

On Friday, the EV market received a jolt as Swedish electric performance carmaker Polestar began trading on the Nasdaq after going public via a SPAC transaction. Shares, trading under the ticker “PSNY,” opened the trading day valued at $13.30 but sank to less than $11 as of midday. advertisement advertisement Polestar is the latest high-profile company to go public during a rather tumultuous time on the market—and also to do so using a SPAC deal. Sustainable consumer-products company Grove Collaborative likewise went public a week ago. But Polestar, which itself was spun off from its parent company, Volvo, is among a slew of other EV makers that have gone public in recent years, such as Rivian , Fisker , Nikola , and Lordstown Motors. “By 2025, we aim to be selling 290,000 cars per year, 10 times as many as we sold in 2021,” said Thomas Ingenlath, CEO of Polestar, in a press release . “We already have a real and … [Read more...] about Polestar goes public: What to know about the electric vehicle company’s SPAC merger

Share to Twitter Share to Linkedin The U.S. Department of Defense is a huge consumer of technology, and as a result America is home to many of the world’s biggest makers of military hardware. If you were to infer from this that Americans have a love affair with defense companies, you’d be wrong. It is a longstanding tradition in the domestic political culture to view military contractors with suspicion. That tradition is not confined to one party. During the 1920s, Republicans led the charge in labeling military suppliers like Dupont as “merchants of death.” Fifty years later, during the Vietnam War, it was Democrats who took the lead in condemning the “military-industrial complex.” The latest wrinkle in this longstanding bipartisan bias is the charge that traditional defense companies are not innovative, and that if the Pentagon wants cutting-edge technology it needs to turn to commercial companies in Austin, Boston and Silicon Valley. The … [Read more...] about U.S. Defense Companies Are World-Class Innovators. Why Doesn’t Washington Know That?

You know the place, even if you haven’t been there. advertisement advertisement From the outside, it has a spare, severe look. But inside, past the flower stall and barbershop, the vibe is serene and hushed. Long tables and worn leather chairs invite people to cluster; the scent of locally roasted coffee mixes with the sound of the nearby photo booth, whirring in the background. There are vintage records on the shelves and slinky indie pop on the speakers, and the late afternoon sunlight makes puddles on the century-old wood floor. The feeling is both of the moment and timeless. To a remarkable extent, this place, the Ace Hotel, is the brainchild of a single man, a lean, mop-haired native of the Pacific Northwest named Alexander Calderwood. A kind of hipster polymath, he was able to look around the corners of culture and see what was coming years, if not decades, before everyone else. In his 20-year career, Calderwood cofounded a barbershop, a … [Read more...] about Behind Ace Hotel Founder Alex Calderwood’s Creative Life And Untimely Death

Gaurav Dua is the Senior VP, Head – Capital Market Strategy & Investments, Sharekhan by BNP Paribas We expect Q4 earnings season to be quite tough for certain sectors as after an earning upgrade cycle of past 4-5 quarters, the Q4 earning season could see meaningful downgrades in estimates in select sectors like cement, FMCG, oil marketing companies, consumer durable companies, said Gaurav Dua, Head - Capital Market Strategy at Sharekhan by BNP Paribas. Talking about which stocks to focus on going ahead, he said we expect market behaviour to be skewed in favour of high quality stocks from select sectors. Do you think the market investors will have to worry more about the US Fed action than about the Ukraine-Russia war? The US Federal Reserve is expected to hike rates by 25 bps for 5/6 times this year and it is already factored in by the markets. In fact, the recent Bloomberg data indicates that the majority expect (probability of 75 percent) an aggressive 50 bps in … [Read more...] about Daily Voice | Market behaviour to be skewed in favour of high quality stocks going ahead: Gaurav Dua of Sharekhan

Share to Twitter Share to Linkedin It’s been a rollercoaster ride for shares of Airbnb since the online home rental firm went public in December 2020. Shares rose in the second half of last year, peaking at just over $207 in November. Now they’re trading for about 50% less, following a decline in many U.S. stocks. One of Airbnb’s three billionaire cofounders has continued to sell shares monthly despite the stock plunge. Since June 15, 2021, Joe Gebbia, who is head of Airbnb’s nonprofit arm, has sold 5 million shares worth $713 million. He’s been selling at a rate of 200,000 to 700,000 shares a month, as recently as this month—parting with 8% of his stake in the company. After taxes, Forbes estimates Gebbia took home at least $450 million. Per Securities and Exchange Commission filings, those transactions were part of a predetermined trading plan. The only exception was March of this year, when Gebbia sold 1.4 million shares for a pretax total of $215 … [Read more...] about These Airbnb Founders Have Sold More Than $1 Billion Worth Of Stock Combined In The Past Year

- A + A (June 28): Half way to the point when Hong Kong will officially be enveloped by China, Beijing is not just calling the shots politically, but in vast swathes of the city’s US$344 billion economy. From the stock exchange to brokerages, construction projects to the retail sector, Chinese state-controlled firms are increasingly dominating, taking market share away from the local tycoons and British trading houses that thrived under the final decades of UK rule. Those behind the growing Chinese influence view Hong Kong’s economy as stagnant, slow to embrace the technology-driven, new economy industries that have been catalysts for growth on the mainland. Chinese enterprises have been handed more political power in the city, including a recent revamp of the electoral system that reduced the influence of local businesspeople and added greater representation for state-backed companies. “Hong Kong has come to a crucial crossroads,” said Simon Lee, a Hong Kong … [Read more...] about Chinese firms are dominating key parts of Hong Kong’s economy

Share to Twitter Share to Linkedin Now that McDonald’s has agreed to pay France a blockbuster €1.25 billion in back taxes and fines, labor unions are calling the settlement a success for union activism in the corporate tax space. The story dates back to 2015, when a coalition of European and U.S. labor organizations (the European Federation of Public Service Unions; the European Federation of Food, Agriculture, and Tourism Trade Unions; and the Service Employees International Union) and the U.K.-based antipoverty organization War on Want accused McDonald’s of avoiding over €1 billion in taxes in Europe by purposefully restructuring its European operations to take advantage of favorable tax rates in specific countries. The groups were concerned about some restructurings McDonald’s undertook in 2009 to move its European headquarters from the United Kingdom to Switzerland and route its intellectual property to a new IP holding company based in Luxembourg. … [Read more...] about Lesson For McDonald’s: Beware The Tax Whistleblower Unions

In July 2021, the European Commission did something that no other major governing body had ever attempted: It tied trade policy to climate policy. Reaching the European Union's goal of cutting net greenhouse-gas emissions by 55% by 2030 will require the EU to reduce emissions both at home and beyond its borders. To this end, the Commission's Fit for 55 initiative, a package of proposals aimed at meeting the bloc's emissions-reduction target, includes a carbon border adjustment mechanism (CBAM) -- an import tax designed to corral other countries into tackling climate change. The CBAM would tax imported goods sold in EU markets on the basis of their carbon content (the emissions required to produce them), which depends on their material and energy inputs. The proposed levy is intended to address so-called carbon leakage, which occurs when businesses in the EU move production to non-member countries with less stringent emissions rules. In other words, Europe would no longer ignore the … [Read more...] about EU carbon tax hurts poorer states

- A + A KUALA LUMPUR (June 27): Analysts have maintained their "buy" rating of VS Industry Bhd (VSI) despite the company’s earnings for the nine-month period ended April 30, 2022 (9MFY22) coming in below their expectations. Despite maintaining a "buy" rating for the stock, Hong Leong Investment Bank (HLIB) Research trimmed its target price (TP) to RM1.14 (from RM1.21 previously). “In light of [the] rising interest rate environment and cost headwinds, we tweak our P/E (price-to-earnings) target lower from 18 times to 16 times. “As the biggest EMS (electronic manufacturing services) player in Malaysia with a solid track record, we opine that VSI would be able to weather through the gloomy clouds while simultaneously scour for opportunities from the trade diversion,” said the research house in a note on Monday (June 27). VSI’s net profit for the third quarter ended April 30, 2022 (3QFY22) dropped 30.1% year-on-year to RM51.29 million, from RM73.38 million … [Read more...] about Analysts keep ‘buy’ on VS Industry despite lower-than-expected 9MFY22 earnings

Prateek Agrawal is the Business Head & CIO at ASK Investment Managers “Overall, I would stay focussed on earnings and valuations and policy making in India rather than what is happening elsewhere. This should be especially true because the influence of foreign capital on the Indian market is reducing,"  Prateek Agrawal - Business Head and Chief Investment Officer (CIO) of ASK Investment Managers, told Moneycontrol in an interview. Large FPI selling has been readily absorbed by MFs, insurance, Pension and PF funds and this is a structural change that has taken place, he believes. Agrawal's preferred valuation methodology, at present, is to look at 5-year PE averages and earnings yield to bond yield indicators. "These indicators point to an index target of 18,250 to 18,500 over 2022. This leaves just about 7 percent upside from the present levels," says Agrawal, who has over 27 years of experience in capital markets, with long, distinguished stints in sell side research, … [Read more...] about Daily Voice | With valuations no longer cheap, volatility could recur: Prateek Agrawal of ASK Investment Managers