Share to Twitter Share to Linkedin Mercedes-Benz stock (OTCMKTS: MBGAF) has gained almost 20% over the last month, following a strong set of Q3 earnings and broader gains in global stock markets. Over the quarter, revenue rose almost 19% year-over-year to 37.7 billion euros (about $37.5 billion), as deliveries expanded after multiple quarters of supply chain and semiconductor supply-related issues. Mercedes-Benz car sales rose 38% year-over-year to 530,400 units, marking a sharp reversal from Q2 2022 when volumes dipped by about 6% year-over-year. Net profits also rose by about 35% to 4.0 billion euros, despite inflation-related pressures, partly due to a favorable model mix. Mercedes has been prioritizing the delivery of more premium vehicles and trims in recent quarters with its top-end luxury vehicles accounting for 15% of overall sales over the last quarter. However, despite the strong numbers over the last quarter, we remain neutral on Mercedes, with … [Read more...] about Is Mercedes Stock A Buy At $65?
Share to Twitter Share to Linkedin Toyota Motor’s stock (NYSE: TM) has declined by around 20% year-to-date, underperforming the broader U.S. indices. Toyota posted mixed results for Q2 FY’23. Revenue rose by over 22% to 9,218 billion yen ($69 billion), with deliveries rising by about 10% versus last year. However, operating profits fell to about 562 billion yen ($4.2 billion), down from 749 billion yen a year earlier as the company faces headwinds amid rising interest rates, foreign exchange volatility, and disruption to manufacturing caused by coronavirus lockdowns in China. While Toyota has reiterated its operating profit forecast of 2.4 trillion yen ($17 billion) for the fiscal year 2023, it cut its production target for the year to 9.2 million vehicles from 9.7 million vehicles previously. That said, profits are projected to remain down by about 20% versus last year due to supply chain-related headwinds. Although the results were a mixed bag, we … [Read more...] about Why Toyota Stock Looks Like A Buy Despite Mixed Earnings
Share to Twitter Share to Linkedin Despite a 15% fall year-to-date, Norfolk Southern stock (NYSE: NSC) has little room for growth. NSC stock has declined from over $290 in early January to around $205 in mid-October before rising to about $255 now. The YTD 15% fall for Norfolk Southern aligns with the -15% returns for the broader S&P500 index and its peers, CSX stock and Union Pacific UNP stock, both down over 15%. Looking at the longer term, Norfolk Southern stock is up 70% from levels seen in late 2018, compared to around 65% returns for the S&P500 index. This 70% rise for UNP stock since late 2018 was driven by: 1. the company’s P/S ratio, which rose 35% to 4.8x trailing revenues, from 3.5x in 2018, 2. a 14% fall in its total shares outstanding to 233 million, driven by share repurchases of around $7 billion between 2019 and 2021, and 3. Norfolk Southern’s revenue grew 7.9% to $12.4 billion over the last twelve months, compared … [Read more...] about What’s Driving The Growth For Norfolk Southern Stock?
Share to Twitter Share to Linkedin Etsy stock (NASDAQ NDAQ : ETSY) has gained 17% in the last week, significantly outperforming the S&P 500 (up 1.1%). Further, the trend was observed over the last ten days (23% vs 3.2%) and one month (60% vs 8.5%). The company offers an online marketplace for unique and creative goods. Its stock price has witnessed a positive momentum after the third quarter results, as it surpassed the consensus estimates and provided strong guidance for revenues and gross merchandise value in Q4. In addition, the price bounced last week after BTIG analyst Marvin Fong gave bullish comments about the stock. He suggested that the shoppers’ browsing activity on the platform has increased (based on the data collected by his firm). Now, is Etsy stock set to rise further, or could we expect some correction? We believe that there is a greater than 90% chance of a rise in Etsy stock over the next month (21 trading days) based on our … [Read more...] about Etsy Stock Jumped 17% Last Week, Where Is It Headed?
Tan Sri Abdul Rahman Mamat's resignation as Dagang NeXchange Bhd chairman took effect on Dec 6, 2022. Photo by Chu Juck Seng/The Edge - A + A KUALA LUMPUR (Dec 6): Dagang NeXchange Bhd (DNeX), which is embroiled in legal disputes over its 60% investment in semiconductor water foundry SilTerra Malaysia Sdn Bhd, has announced the resignation of its independent and non-executive chairman Tan Sri Abdul Rahman Mamat. Abdul Rahman's resignation took effect on Tuesday (Dec 6), DNeX told Bursa Malaysia. The group cited "to be in line with good corporate governance practices and to pursue other corporate interests" as the reason for his resignation. Abdul Rahman was appointed as the company's chairman on Dec 16, 2013, following his appointment as an independent non-executive director on Dec 12, 2013. On Nov 17, DNeX announced that its wholly owned unit, DNeX Semiconductor Sdn Bhd, had issued and served a notice of arbitration to commence arbitration proceedings against … [Read more...] about DNeX announces Abdul Rahman’s resignation as chairman
- A + A KUALA LUMPUR (Dec 6): LB Aluminium Bhd’s net profit jumped 81% year-on-year for the second quarter ended Oct 31, 2022 (2QFY2023), thanks to higher average selling prices and improved margin in its aluminium products segment. Net profit rose to RM12.35 million in 2QFY2023 from RM6.83 million in 2QFY2022, on the back of RM206.09 million revenue, a 30% increase from RM158.84 million, said the aluminium extrusion manufacturer in a stock exchange filing on Tuesday (Dec 6). For the first six months of FY2023 (1HFY2023), the group’s net profit more than doubled to RM24.86 million from RM9.87 million in 1HFY2022, while revenue grew 58% to RM433.15 million from RM273.39 million. Going forward, the group said stabilising global aluminium prices and the strengthening of the ringgit against the US dollar augur well for its prospects, as its raw material is priced in US dollar. The group, which is 30% owned by executive chairman Tan Sri Leow Chong Howa, also expects … [Read more...] about LB Aluminium’s 2Q net profit jumps 81% as margin improves with higher selling prices
- A + A KUALA LUMPUR (Dec 6): Scientex Packaging (Ayer Keroh) Bhd net profit increased 25% for the first quarter ended Oct 31, 2022 (1QFY2023), as revenue grew amid higher demand in both domestic and export sales, while lower raw material prices boosted margin. Scientex Packaging is 72%-owned by Scientex Bhd. Net profit for 1QFY2023 rose to RM12.28 million from RM9.8 million in 1QFY2022, while revenue grew 19% to RM213.92 million from RM180.31 million, the packaging firm’s stock exchange filing showed. Although the group is facing an increasingly volatile external environment, demand for its products remains fairly resilient, as it continues collaborative work with global and local brand owners to meet their sustainability goals, said Scientex Packaging. “With priority focused on innovation and development of sustainable products, the group has successfully commercialised more sustainable flexible plastic packaging (FPP) products that meet the customers’ stringent … [Read more...] about Scientex Packaging’s 1Q net profit climbs 25% on improved margin with cheaper raw material
- A + A KUALA LUMPUR (Dec 6): The upper limit price of Comintel Corp Bhd's shares has been frozen at 69 sen by Bursa Malaysia, after the stock hit limit up for two consecutive trading days. Comintel surged as much as 30 sen or 333.33% to 39 sen on Monday (Dec 5), after Bursa lifted the trading suspension of the stock following the completion of its regularisation plan. The counter continued its rally on Tuesday (Dec 6) to close another 30 sen or 76.92% higher at 69 sen, with some 6.41 million shares changing hands. At 69 sen, the Practice Note 17 (PN17) company has a market capitalisation of RM96.6 million. Comintel, through its subsidiaries, provides turnkey engineering design and integration as well as manufactures and assembles electronic components. For its second quarter ended July 31, 2022 (2QFY2023), Comintel returned to the black with a net profit of RM1.57 million net profit, versus a net loss of RM296,000 a year earlier, boosted by its construction … [Read more...] about Comintel’s upper limit price frozen at 69 sen as shares surge upon lifting of trading suspension
This article first appeared in The Edge Malaysia Weekly, on November 28, 2022 - December 04, 2022. - A + A THINGS seem to be picking up at oil and gas topside maintenance and offshore support service provider Dayang Enterprise Holdings Bhd. Last Thursday, Dayang’s share price hit a 52-week high of RM1.36, after gaining more than 35% since end-July, buoyed by heavier trading volume. The stock closed at RM1.34 last Thursday, translating into a market capitalisation of RM1.55 billion. On Nov 11, the Employees Provident Fund (EPF) emerged as a substantial shareholder of Dayang with 5.01% equity interest, or 58.03 million shares. By last Thursday, it had upped its stake to 5.37%, or 62.17 million shares. This is the first time the provident fund has been a substantial shareholder of the company since its flotation exercise in April 2008. Also in early November, asset management outfit Fidelity International Ltd (FIL) emerged as a substantial shareholder of … [Read more...] about Dayang seen to benefit from heightened O&G activity
The road sector is seeing a slowdown in capital expenditure and likely stalling of projects but engineering, procurement and construction (EPC) companies in the sector are catching investor fancy as they can brave the storm and stand strong, said market mavens. KNR Constructions and PNC Infratech have emerged as decent investment bets on account of their long track records, robust order books and attractive valuations, said the head of one of the leading PMS firms which manages assets worth around Rs 1,700 crore. “KNR and PNC have remained institutional favourites for a long period of time. And they have delivered good returns, even during the tough times for the industry,” said Santosh Meena, Head of Research, Swastika Investmart. The two companies remain his preferred picks in the EPC space given the healthy return ratios, lean balance sheets and better execution process, he added. PNC has executed 70 major infrastructure projects to date, pointed out ICICI … [Read more...] about Stocks on expressway | PNC Infratech, KNR Constructions may speed up on order inflows, valuations