Core Viewpoint - Bank of America Securities reports that Wanwu Cloud (02602) management indicated during the earnings briefing on August 19 that revenue and core profit growth for the fiscal year 2025 is expected to exceed that of the first half of this year [1] Financial Forecast Adjustments - Bank of America Securities has raised the core profit forecast for Wanwu Cloud for the fiscal years 2025 to 2027 by 3.5% to 6.5% due to stable earnings [1] - However, the reported profit forecast has been lowered by 7.5% to 10.5% due to higher-than-expected credit provisioning losses [1] Target Price and Valuation - The target price for Wanwu Cloud has been increased from HKD 22.9 to HKD 24, based on a projected price-to-earnings ratio of 10 times for the fiscal year 2026 [1] - Despite the upward adjustment in target price, the company maintains an underperform rating due to concerns over sluggish growth [1]

Core Viewpoint - Cathay Pacific announced its 2025 H1 results, achieving a net profit of HKD 3.651 billion, a year-on-year increase of 1.1%, in line with expectations [1] Group 1: Financial Performance - The group reported a 9.5% year-on-year increase in revenue, reaching HKD 54.309 billion [1][3] - The adjusted net profit after excluding non-recurring items was HKD 3.832 billion, showing a slight decline year-on-year [1][3] - Passenger revenue accounted for 69% of total revenue, increasing by 12.7% year-on-year, while cargo revenue decreased to 23%, growing by 1.2% [3] Group 2: Capacity and Utilization - The group experienced significant growth in capacity and traffic, with ATK increasing by 15.9% and RTK by 18.1% year-on-year [2] - The passenger load factor improved by 2.4 percentage points, with passenger traffic rising by 27.8% [2] - Aircraft utilization increased by 20%, reaching an average of 10.8 hours [3] Group 3: Cost and Efficiency - Total costs increased by 10.7% year-on-year, but unit costs per ATK decreased by 4.1% [3] - The company announced a mid-year dividend of HKD 0.20 per share, totaling HKD 1.288 billion, with a payout ratio reduced to 35% from 46% in 2024 [3] Group 4: Fleet Expansion - As of 2025 H1, the fleet consisted of 234 aircraft, with an order for 14 additional Boeing 777-9 aircraft, bringing the total order for this model to 35 [4] - The new aircraft are expected to be delivered starting in 2034, indicating ongoing fleet optimization [4] Group 5: Investment Outlook - The company is expected to maintain high profitability levels, with a projected net profit of HKD 7.792 billion for 2025, down from a previous forecast of HKD 9.008 billion [4] - The PE ratios for 2025-2027 are projected to be 8.7x, 6.9x, and 6.2x, significantly below the industry average [4]

Core Viewpoint - Morgan Stanley has downgraded Cathay Pacific's net profit forecasts for 2025 to 2027 by 7%, 5%, and 7% respectively, primarily due to a reduction in passenger yield expectations, partially offset by improved cost control [1] Group 1: Financial Forecasts - The target price for Cathay Pacific has been lowered from HKD 12.1 to HKD 10.8 [1] - The company maintains a "market perform" rating amid operational uncertainties, with a 7% dividend yield potentially limiting downside risk [1] Group 2: Market Conditions - A more positive outlook may emerge if demand for routes to Japan and Thailand recovers better than expected, supporting yield performance [1] - The outlook for Sino-US trade is a variable that could impact cargo business momentum [1] Group 3: Cost Considerations - Fuel costs account for approximately 30% of Cathay Pacific's total costs, making oil price trends a significant observation indicator [1]

The consensus estimate for 'Net Sales- Engineered Materials' stands at $1.35 billion. The estimate indicates a year-over-year change of -7.8%. Based on the collective assessment of analysts, 'Operating EBITDA- Acetyl Chain' should arrive at $287.13 million. Compared to the current estimate, the company reported $338.00 million in the same quarter of the previous year. The consensus among analysts is that 'Operating EBITDA- Engineered Materials' will reach $278.50 million. Compared to the present estimate, t ...

Core Insights - Jackson Financial (JXN) is expected to report quarterly earnings of $4.61 per share, a decline of 13.4% year-over-year, with revenues forecasted at $1.76 billion, reflecting a decrease of 37.3% compared to the same period last year [1] Earnings Estimates - The consensus EPS estimate has been revised 9.9% higher over the last 30 days, indicating a collective reevaluation by analysts [2] - Revisions to earnings projections are crucial for predicting investor behavior and are linked to short-term stock price performance [3] Revenue Projections - Analysts estimate 'Revenues- Net investment income' at $510.28 million, a year-over-year decline of 31.8% [5] - 'Revenues- Other income' is projected at $12.50 million, showing a year-over-year increase of 25% [5] - 'Revenues- Premium' is expected to reach $39.85 million, reflecting a 7.7% increase year-over-year [5] - 'Revenues- Fee income' is forecasted at $1.20 billion, indicating a significant decline of 40.5% year-over-year [6] Adjusted Earnings Before Tax - 'Adjusted earnings before tax- Retail Annuities' is projected at $410.27 million, down from $465.00 million in the same quarter last year [6] - 'Adjusted earnings before tax- Closed Life and Annuity Blocks' is estimated at $24.68 million, compared to $35.00 million a year ago [7] - 'Adjusted earnings before tax- Institutional Products' is expected to be $19.12 million, down from $29.00 million in the previous year [7] Stock Performance - Jackson Financial shares have decreased by 5.5% over the past month, contrasting with the Zacks S&P 500 composite's increase of 0.6% [7] - The company holds a Zacks Rank 1 (Strong Buy), suggesting it is expected to outperform the overall market in the near term [7]

大摩维持其"与大市同步"评级，美股目标价由48美元微降至47美元；基于第四财季业绩超出预期，将 2026至2028财年各年非通用会计准则每股盈利预测上调12%、10%及3%，但下调远期盈利预测2%至 6%，以反映市场竞争加剧对利润的影响。 摩根士丹利发表研究报告指，新东方截至今年5月底止2025财年第四季业绩胜预期，但2026财年首季及 全财年收入指引则较市场预期逊色，关注海外业务需求恶化会否拖累2026财年收入及利润率，认为集团 实施成本控制措施未知能否抵销相关负面影响。集团给予2026财年首季展望，收入按年增长2%至5%， 较市场预期低5%至8%，全年收入预期增长5%至10%，亦较市场预期低3%至7%。 ...

Core Insights - The upcoming earnings report for International Paper (IP) is anticipated to show quarterly earnings of $0.38 per share, reflecting a 30.9% decline year-over-year, while revenues are forecasted to reach $6.77 billion, indicating a 43% increase compared to the previous year [1] - Analysts have revised the consensus EPS estimate down by 1.5% over the last 30 days, suggesting a reevaluation of initial projections [1][2] Financial Metrics - The consensus estimate for 'Net Sales- Global Cellulose Fibers' is projected at $650.42 million, representing a 9.3% decrease from the prior-year quarter [3] - 'Net Sales- Corporate and Inter-segment' is expected to be $63.94 million, indicating a 25.7% decline from the previous year [4] - Analysts predict a 'Segment Operating Profit (Loss)- Global Cellulose Fibers' of -$3.83 million, contrasting sharply with the year-ago figure of $31.00 million [4] Stock Performance - International Paper shares have increased by 18.5% over the past month, outperforming the Zacks S&P 500 composite, which rose by 3.6% [4] - The company holds a Zacks Rank of 3 (Hold), suggesting it is expected to closely follow overall market performance in the near term [4]

Core Viewpoint - Wall Street analysts anticipate Waste Management (WM) to report quarterly earnings of $1.89 per share, reflecting a year-over-year increase of 3.9%, with revenues expected to reach $6.34 billion, up 17.4% from the previous year [1] Earnings Estimates - Changes in earnings estimates are crucial for predicting investor reactions, with empirical studies showing a strong correlation between earnings estimate revisions and short-term stock performance [2] - The consensus EPS estimate for the quarter has been revised downward by 0.8% over the past 30 days, indicating a collective reassessment by analysts [1] Key Metrics Projections - Analysts project 'Operating revenues- WM Renewable Energy' at $99.63 million, a 44.4% increase from the year-ago quarter [4] - 'Operating revenues- Recycling' is expected to reach $439.11 million, indicating an 8.4% increase from the prior-year quarter [4] - The estimate for 'Operating revenues- Corporate and Other' is $5.69 million, reflecting a decrease of 5.3% from the year-ago quarter [4] Internal Revenue Growth - The average prediction for 'Internal Revenue Growth - Total - As a % of Total Company' is 18.0%, compared to 5.5% reported in the same quarter last year [5] - 'Internal Revenue Growth - Internal revenue growth - As a % of Total Company' is estimated at 6.1%, up from 5.3% in the previous year [5] Stock Performance - Waste Management shares have decreased by 3% over the past month, contrasting with a 5.9% increase in the Zacks S&P 500 composite [6] - WM holds a Zacks Rank 3 (Hold), suggesting it is expected to perform in line with the overall market in the near future [6]

Core Viewpoint - Analysts forecast that Cadence (CADE) will report quarterly earnings of $0.69 per share, indicating no change from the previous year, with anticipated revenues of $468.8 million, reflecting a 2.6% increase year-over-year [1]. Earnings Projections - The consensus EPS estimate has been revised upward by 6.1% over the past 30 days, indicating a collective reassessment by analysts [2]. - Revisions to earnings projections are crucial for predicting investor behavior and are strongly linked to short-term stock price performance [3]. Key Metrics Estimates - Analysts predict an 'Adjusted Efficiency Ratio fully tax equivalent' of 57.5%, up from 56.7% in the same quarter last year [5]. - The 'Net Interest Margin' is expected to be 3.5%, compared to 3.3% in the same quarter last year [5]. - The consensus estimate for 'Average Balance - Total interest earning assets' is $43.77 billion, slightly down from $43.85 billion year-over-year [6]. - 'Non-Performing Loans' are estimated at $236.51 million, up from $216.75 million in the previous year [6]. - 'Non-Performing Assets' are projected at $247.37 million, compared to $221.54 million last year [7]. - 'Total noninterest income' is expected to reach $89.86 million, down from $100.66 million year-over-year [7]. - 'Net Interest Income' is projected at $378.04 million, compared to $356.32 million in the same quarter last year [8]. - 'Credit card, debit card and merchant fees' are expected to be $12.38 million, slightly down from $12.77 million last year [9]. - 'Other noninterest income' is forecasted at $24.46 million, down from $40.06 million year-over-year [9]. - 'Deposit Service charges' are expected to reach $18.73 million, up from $17.65 million last year [9]. - 'Mortgage banking' is projected to reach $7.91 million, compared to $6.17 million in the previous year [10]. Stock Performance - Cadence shares have returned +12.8% over the past month, outperforming the Zacks S&P 500 composite's +5.9% change, with a Zacks Rank 2 (Buy) indicating expected outperformance in the near future [11].

Core Viewpoint - Waste Connections (WCN) is expected to report quarterly earnings of $1.25 per share, reflecting a 0.8% increase year-over-year, with revenues projected at $2.39 billion, indicating a 6.4% year-over-year growth [1]. Earnings Estimates - The consensus EPS estimate has been revised downward by 1.1% over the past 30 days, indicating a collective reassessment by analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate revisions and short-term stock performance [3]. Revenue Breakdown - Analysts estimate that 'Revenue Breakdown- E&P Waste Treatment, Recovery and Disposal' will reach $140.55 million, a 13.8% increase from the previous year [5]. - The 'Revenue Breakdown- Intermodal and Other' is expected to be $51.51 million, reflecting a 4.9% increase year-over-year [5]. - 'Revenue Breakdown- Solid Waste Recycling' is projected at $65.33 million, a 3.2% increase from the prior year [6]. - 'Revenue Breakdown- Solid Waste Collection' is estimated at $1.69 billion, indicating a 6.5% year-over-year change [6]. Geographic Revenues - 'Geographic Revenues- Canada' is expected to reach $359.10 million, reflecting a 12.5% increase year-over-year [7]. - 'Geographic Revenues- Southern' is projected at $501.00 million, indicating a 14.1% increase [8]. - 'Geographic Revenues- Central' is estimated at $429.61 million, reflecting an 11.3% increase [8]. - 'Geographic Revenues- Eastern' is expected to be $447.61 million, indicating a 15.9% increase [8]. - 'Geographic Revenues- Western' is projected at $444.69 million, reflecting a 2% decrease from the prior year [9]. Stock Performance - Shares of Waste Connections have decreased by 1.7% over the past month, contrasting with a 5.4% increase in the Zacks S&P 500 composite [10].