13 August 2024 | 9:20AM EDT Atara Biotherapeutics Inc. (ATRA): 20 EPS: CEO transition; First CD19 oncology data now in 1025, with autoimmune to follow In tandem with 2Q EPS, ATRA announced a CEO transition in which Cokey Nguyen (ATRA's Chief Scientific and Technical Officer) will succeed Pascal Touchon effective September 9. Further updates included delaying the timing for first Ph1 ATA3219 (allogeneic CD19 CAR T) data in relapsed/refractory B-cell non-Hodgkin's lymphoma to 1Q25 vs. 4Q24 prior on slower pat ...

13 August 2024 | 9:10AM EDT Americas Advisors: Weekly M&A activity as of 08.13.2024. Please find below summary tables to highlight weekly M&A trends for the independent advisors, bulge bracket firms, independent investment banks and mid-cap brokers. James Yaro +1(212)902-1913 | iames.e.varo@gs.com Goldman Sachs & Co. LLC Richard Ramsden +1(212)357-9981 richard.ramsden@gs.com Goldman Sachs & Co. LLC Songqing Jiang +1(212)934-0308 songqing.jang@gs.com Goldman Sachs & Co. LLC Ishan Rai, CFA +1(332)245-7603 / i ...

14 August 2024 | 8:53AM AEST Amotiv Ltd. (AOV.AX): FY24 First Take: Result in-line with May guidance; Buy Amotiv (AOV) have reported their FY24 results, the first under their new name and new segmentation. GS take: Result largely in-line with expectations with minimal specific guidance provided. Buy. Key takeaways: ■ Group Ebita of A$194.6m marginally above May guidance of 'at least A$193.5m'. APG achieved Ebita of A$63.1m (May guidance of A$63m). Performance in Lighting (+7.3% organic; +13.3% with acquisit ...

13 August 2024 | 8:31 PM SGT Asia-Pacific Portfolio Strategy: Asian equity market daily update: The MXAPJ Index was flat today. Indonesia and Philippines markets outperformed, while India and Australia markets underperformed. Within MXAPJ sectors, Info Tech and Comm Serv led while Health Care and Materials lagged. MSCI Japan rose 3.1% today. For a detailed analysis, please see Weathering summer storms, August 7, 2024. Exhibit 1: The MXAPJ index has gained 5.2% YTD after gaining 5% in 2023, particularly led ...

13 August 2024 | 10:10PM BRT Allos SA (ALOS3.SA): 2024 First Take:Improving Fundamentals; Income Statement Within Expectations Jorel Guilloty +55(11)3372-3522 jorel.quilloty@as.com Goldman Sachs do Brasil CTVM S.A. Our take: We expect Allos 2024 results to have a muted impact on shares. Net revenue and NOI came within expectations, while property EBITDA and FFO came slightly ahead driven by better SG&A. Fundamentals generally saw an improvement with occupancy rising 60 bps y/y to 96.3%. Occupancy cost saw a ...

13 August 2024 | 5:49AM EDT Americas Healthcare: Biotechnology: Boston Biotech Bus Tour - Day 1 takeaways We met with the management teams from LNTH, BPMC, KYMR, and RYTM during Day 1 of our Boston biotechnology bus tour. We offer our detailed takeaways below. Takeaways Lantheus Holdings (LNTH, Not Covered) We hosted Brian Markison (CEO), Paul Blanchfield (President), and Robert Marshall (CFO), as well as representatives of the company's investor relations team during our 2024 Boston Biotech Bus Tour. The c ...

13 August 2024 | 9:27AM EDT Americas Restaurants: SBUX appoints current CEO of CMG as new Chairman/CEO This morning, SBUX announced that Brian Niccol has been appointed chairman and chief executive officer, with the current CEO/chairman Laxman Narasimhan stepping down effective immediately. Mr. Niccol will join the company on September 9, with current CFO Rachel Ruggeri serving as interim CEO until then. CMG's Board of Directors has appointed Scott Boatwright, Chief Operating Officer, as Interim CEO. SBUX: ...

13 August 2024 | 7:45PM EDT Americas Energy Key learnings from earnings season that support The Future of Utilities Capex; Buy SRE, PWR The Future of Utilities Capex Explore > With second quarter earnings season now behind us, we reflect on key learnings that support The Future of Utilities Capex, our constructive view on Utilities, and our Buy rating on Quanta Services (PWR). We believe commentary from utilities continues to point to positive capital spending revisions as we look to the Fall and early 2025 ...

13 August 2024 | 11:07AM EDT Americas Agriculture: Proposed changes in LCFS Late Monday (8/12), the California Air Resources Board (CARB) proposed amendments to the Low Carbon Fuel Standard (LCFS), subject to a public hearing & vote on November 8th. This follows prior proposal amendments issued in December 2023 that had been scheduled for hearing & vote in February 2024 that was ultimately postponed. Key highlights of proposed changes 1) 9% step-down in 2025 CI reduction. CARB is proposing to modify the nea ...

Investment Rating - The report maintains a "BUY" rating for FIT Hon Teng with a new target price of HK$ 4.25, indicating an upside potential of 88.1% from the current price of HK$ 2.26 [4][12]. Core Insights - FIT Hon Teng reported strong 2Q24 results, with revenue of US$ 1,102 million, reflecting a 20% year-over-year increase, and a net profit of US$ 22.3 million, a significant improvement from US$ 0.35 million in 2Q23 [2][6]. - The company has raised its FY24E guidance for networking business revenue to high double-digit year-over-year growth, up from a previous estimate of 5-15% [2][12]. - The earnings growth is driven by the networking business and the EV segment, which saw a remarkable 231% year-over-year increase due to the Voltaira merger [2][6]. Financial Summary - Revenue projections for FY24E are set at US$ 4,677 million, with expected growth of 11.5% year-over-year, and net profit is projected to reach US$ 183.5 million, reflecting a 41.6% increase [3][10]. - The gross profit margin (GPM) is expected to improve to 20.6% in FY24E, with operating profit margin (OPM) targeted at 7.0% [8][10]. - The company anticipates a rebound in revenue and net profit for FY24E, with expectations of 12% and 42% year-over-year growth, respectively [2][12]. Segment Performance - The EV segment's revenue surged by 231% year-over-year, while the networking segment grew by 29% year-over-year, driven by strong AI demand [2][6]. - The smartphone segment also performed better than expected, benefiting from key customer shipment improvements [2][6]. Earnings Revision - The report indicates that FY25-26E EPS estimates are 13-23% above consensus, reflecting confidence in the company's growth trajectory [2][10]. - Adjustments to FY24-26E EPS have been made to account for higher gross profit margins, offset by increased operating expenses for new products [2][10]. Valuation - The stock is currently trading at 11.2x FY24E P/E and 6.9x FY25E P/E, which is considered attractive given the projected 42% and 63% year-over-year EPS growth for FY24 and FY25, respectively [2][12].