J P M O R G A N Global Markets Strategy 11 June 2025 Japan Equity Strategy Capex expansion cycle continues amid uncertainty: Promising sectors and companies A capex expansion cycle continues for Japanese companies even as uncertainty over US tariff policy rises. In FY2024, capex in semiconductors, automation, power transmission and distribution, and inbound sectors advanced. Capex accounts for nearly 20% of Japan's GDP, and corporate capex expanded during periods of economic growth and a booming stock marke ...

Core Insights - Abercrombie & Fitch Co. (ANF) experienced an 11% drop in shares after releasing its first-quarter fiscal 2025 results, underperforming compared to the Zacks Retail - Discount Stores industry and the broader S&P 500 [1][3] Financial Performance - The company reported an earnings per share (EPS) of $1.59, exceeding the Zacks Consensus Estimate of $1.35, and achieved record sales of $1.1 billion, reflecting an 8% year-over-year increase [3][5] - Despite strong revenue growth, EPS declined by 25.7% compared to $2.14 in the same quarter last year, and gross margin contracted by 440 basis points to 62% due to inflationary pressures and higher selling expenses [5][10] Brand Performance - The Hollister brand showed robust growth with a 22% increase in sales and 23% comparable sales gains, while the Abercrombie brand faced a 4% decline in sales and a 10% drop in comparable sales [6][9] - The Abercrombie brand's underperformance is concerning as it constitutes nearly 50% of the company's total sales, posing a strategic risk [9][12] Guidance and Market Sentiment - Management raised sales growth expectations for fiscal 2025 to 3-6% but lowered EPS guidance to $9.50-$10.50 from $10.40-$11.40, indicating potential profitability challenges in the second half of the fiscal year [10][19] - The Zacks Consensus Estimate for EPS has seen downward revisions, with a 6.2% decline to $10.28 for fiscal 2025 over the past 30 days [17][19] Strategic Initiatives - The company is focusing on long-term growth through brand evolution, international expansion, and enhancing omni-channel capabilities, including plans to open 60 new stores and remodel 40 in fiscal 2025 [11][12] - Abercrombie's brand portfolio revitalization, particularly the success of Hollister, is a key strength, with eight consecutive quarters of growth [12][18] Valuation - ANF is currently trading at a forward 12-month P/E ratio of 7.57X, significantly below the industry average of 17.85X and the S&P 500's average of 22.02X, indicating a potential buying opportunity despite investor concerns [13][16]

Key Takeaways NFLX will invest Euro 1B in Spain by 2028 to expand EMEA operations and produce local original content. Spain is now a global content hub for Netflix, with above 1,000 Spanish titles and strong viewing traction. NFLX International markets drove 44% of Q1 revenues, with EMEA and APAC growth of 15% and 23%, respectively.Netflix (NFLX) relies heavily on its international business as a key growth driver. In the first quarter of 2025, revenues rose 12.5% year over year, largely driven by strong i ...

Key Takeaways HOOD's May 2025 equity, options and crypto DARTs rose 15%, 50%, and 66.7% year over year, respectively. Robinhood launched new products like Futures, Index Options, and U.K. trading to expand its client base. HOOD shares surged 101% YTD, with 2025 and 2026 earnings projected to grow 11.9% and 20.5%, respectively.Robinhood Markets, Inc. (HOOD) has released the monthly operating data for May 2025. It reported a rise in equity, options, and crypto Daily Average Revenue Trades (DARTs) from the y ...

Key Takeaways EQX trades at a 51.2% discount to its industry average and below key peer valuations. EQX is expanding production capacity and acquiring Calibre to boost output past 1.2 million ounces annually. Despite high costs and Los Filos suspension, EQX expects lower AISC in H2 with improved cash flow.Equinox Gold Corp.'s (EQX) stock looks attractive from a valuation perspective. EQX is currently trading at a forward price/earnings of 6.54X, a roughly 51.2% discount to the Zacks Mining – Gold industry ...

SINGAPORE, June 12, 2025 (GLOBE NEWSWIRE) -- HomesToLife Ltd (Nasdaq: HTLM) (“HomesToLife” or the "Company"), a Singapore-based home furniture company with sales across Asia-Pacific, Europe and North America regions, today announced unaudited financial results for the first quarter ended March 31, 2025 (“Q1 2025”). The Company posted net revenue of $5.2 million in Q1 2025, up 405% from net revenue of $1.0 million in Q1 2024. This increase was driven by a $4.4 million revenue contribution from HTL Far East P ...

Includes 15.6 Metres Averaging 1.47% Cu and 8.5 g/t Ag E Zone Skarn Returns 29.7 Metres Averaging 1.92% Cu and 15.2 g/t Ag Infill Drilling Continues to Extend Deposit at Depth Below 2024 MRE MONTREAL, June 12, 2025 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the “Company or "Osisko Metals") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce new drilling results from the 2025 drilling program at the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec. Results for eight ...

Heads up, FIFA World Cup is one year away. And here's what you need to know. This is what FIFA tells me will be the most complex World Cup they've ever hosted.32 teams typically they're expanding to 48. Co-hosted for the first time ever by three different countries, USA, Canada, and Mexico. And that means all three of those countries teams get automatically into the tournament.So yes, we will be seeing the US men's national team. The question is how much of them will we be seen if they can make it to the kn ...

Shake Shack (SHAK) FY Conference June 11, 2025 02:15 PM ET Speaker0 Hi, everyone. Thanks for participating in Oppenheimer's twenty fifth Annual Consumer Conference. I'm Mike Tamas, and I cover Shake Shack here at Oppenheimer. Know, Shake Shack's been one of our top picks in 2025, and we remain excited about management's new strategies to stimulate same store sales, enhance margins, and accelerate unit growth. We're gonna dig into all those topics and much more with Katie Fogarty, Shake Shack's CFO. She join ...

Key Takeaways T reached 30M fiber locations, progressing toward its 2030 goal of 60M across the U.S. ahead of schedule. T's strategy includes network upgrades, partnerships, acquisitions, and a unique customer service guarantee. Earnings estimates for T are trending down as competition intensifies in the fiber network space.AT&T, Inc. (T) recently announced that its fiber broadband network has reached 30 million consumer and business locations across the United States. The major milestone was realized ahe ...