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 PRESS RELEASE

RxSight, Inc. Announces Pricing of Public Offering of Common Stock

RxSight, Inc. Announces Pricing of Public Offering of Common Stock ALISO VIEJO, Calif., May 08, 2024 (GLOBE NEWSWIRE) -- (NASDAQ: RXST) -- RxSight, Inc., an ophthalmic medical device company dedicated to providing high-quality customized vision to patients following cataract surgery, announced today that it has priced its underwritten public offering. RxSight expects to sell 1,785,714 shares of its common stock at a price to the public of $56.00 per share. RxSight has granted the underwriters a 30-day option to purchase up to an additional 267,857 shares of its common stock at the public...

Benjaphol Suthwanish ... (+13)
  • Benjaphol Suthwanish
  • Jo Yee Ng
  • John Cheong Ming Chern
  • Jonathan Koh
  • Julia Pan Mengyao
  • Jun Sian Tan
  • Kasemsun Koonnara
  • Kong Ho Meng
  • Ming San Soong
  • Nurul Nazira Binti Abdullah
  • Shirley Wang Xueyi
  • Stella Guo Yuting
  • Thailand Research Team

Regional Morning Notes - Thursday, May 09, 2024

GREATER CHINA Sector Internet: Expect growth momentum to reaccelerate in 2Q24 with release of blockbuster games. Update Budweiser APAC (1876 HK/BUY/HK$11.00/Target: HK$17.00): Base effect and bad weather to impact sales volume growth in 2Q24 in China. TAL Educational Group (TAL US/BUY/US$13.14/Target: US$16.30): Moderate regulatory tone; viable strategic transition to non-academic education. MALAYSIA Initiate Coverage Lagenda Properties (LAGENDA MK/BUY/RM1.66/Target: RM2.05): A legend in the af...

 PRESS RELEASE

Volaris Celebrates Frontier Airlines’ Reactivation of the Codeshare Ag...

Volaris Celebrates Frontier Airlines’ Reactivation of the Codeshare Agreement Between Both Airlines Starting today, Frontier Customers will have access to more than 40 destinations in Mexico through Volaris Partnership MEXICO CITY, May 08, 2024 (GLOBE NEWSWIRE) -- Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (NYSE: VLRS and BMV: VOLAR) (“Volaris” or “the Company”), the ultra-low-cost carrier (ULCC) serving Mexico, the United States, Central, and South America, welcomes Frontier Airlines reactivation of the Codeshare agreement between both airlines, facilitating travel between...

Jonathan Koh
  • Jonathan Koh

United Overseas Bank (UOB SP) - 1Q24: Building Regional Franchise For ...

UOB reported net profit of S$1,487m for 1Q24 (-2% yoy). Contributions from wealth management and credit cards increased 5% and 11% yoy respectively. Trading & investment income increased 10% yoy to an all-time high of S$521m. UOB generated ROE of 14.0%, and CET-1 remains robust at 13.9% in 1Q24. One-off expenses from the integration of Citi Consumer businesses is expected to be reduced in 2Q24.

John Cheong Ming Chern
  • John Cheong Ming Chern

AEM Holdings (AEM SP) - 1Q24: Earnings Below Estimate; Outlook Worsens...

AEM’s 1Q24 revenue of S$94m (-38% yoy) is in line with expectation, but earnings of S$2.4m (-85% yoy) is below expectation at only 7% of our full-year estimate. AEM maintained its 1H24 revenue guidance of S$170m-200m. However, the near-term outlook has worsened as visibility in 2H24 remains limited, and any uptick in growth is expected to occur only in 2025. We cut our 2024 earnings forecast by 42%. Downgrade to SELL with a 14% lower target price of S$1.67 (12x 2025F PE).

Mad Engine Global, LLC: Update to the credit analysis

Our credit view of Mad Engine reflects its small scale and very high leverage, offset by its low capital investment requirements.

Pertamina International Shipping (P.T.): Update to credit analysis

Our credit view of this issuer reflects its high level of integration within the Pertamina group, constrained by its small operating scale and aged fleet.

Macroeconomics – Japan: Bank of Japan's inflation outlook firms but su...

Negotiations for higher wages and increased consumer confidence will help boost inflation in Japan but sustained reflation depends on structural factors.

Ewa Manthey ... (+2)
  • Ewa Manthey
  • Warren Patterson

The Commodities Feed: US crude inventories edge lower

Oil prices recovered in the latter part of yesterday's trading session due to US inventory declines. However, there are still some lingering demand concerns

 PRESS RELEASE

ProSomnus Sleep Technologies Takes Strategic Action to Position Compan...

ProSomnus Sleep Technologies Takes Strategic Action to Position Company for Long-Term Success Announces Plan for $20 million in Aggregate New Financing to Support Daily Operations, Restructuring, Strategic Initiatives, and Advocacy Company Enters into Voluntary Chapter 11 Restructuring Process Which Will Take Company Private, Reduce Debt and Enable Execution of Key Initiatives Minimal Expected Operational Impact to Business, Company Wil Continue Serving Customers and Delivering Products PLEASANTON, Calif., May 08, 2024 (GLOBE NEWSWIRE) -- ProSomnus, Inc. (the “Company”), the leading no...

John Cheong Ming Chern ... (+2)
  • John Cheong Ming Chern
  • Jonathan Koh

Singapore Daily: Thursday, May 9, 2024

KEY HIGHLIGHTS Results AEM Holdings (AEM SP/SELL/S$2.32/Target:S$1.67)                  1Q24: Earnings below estimate; outlook worsens. Downgrade to SELL. United Overseas Bank (UOB SP/NOT RATED/S$30.55)            1Q24: Building regional franchise for consumer businesses. MONTHLY TECHNICAL - INDICES OUTLOOK     Singapore Post (SPOST SP): Trading BUY                                                                         Parkway Life Real Estate Investment Trust (PREIT SP): Trading BUY

Lynn Song ... (+4)
  • Lynn Song
  • Min Joo Kang
  • Nicky Mapa
  • Rob Carnell

Asia Morning Bites

Japan's headline cash earnings disappoint. China's trade and Philippine GDP data are due later today

Soomit Datta
  • Soomit Datta

Millicom (Buy, TP: $24) Q1 24 - Big (10%) EBITDA beat as Xavier Niel c...

On the back of a 1% revenue beat, it was mainly cost which drove a 10% underlying beat at EBITDA.

San Bruno Park School District, CA: Update to credit analysis

Our credit view of San Bruno Park SD, reflecting its strong reserves, healthy local economy and moderately high long-term liabilities.

City of Lake Geneva, WI: Update to credit analysis

Our credit view of Lake Geneva, WI highlights a strong financial position, growing economy reliant on tourism and moderate leverage.

 PRESS RELEASE

Copart, Inc. to Release Third Quarter Fiscal 2024 Results

DALLAS--(BUSINESS WIRE)-- Copart, Inc. (NASDAQ: CPRT) announced today that it will release earnings for the third quarter of fiscal 2024 after 4:00 p.m. Eastern Time (3:00 p.m. Central) on Thursday, May 16, 2024. On Thursday, May 16, 2024, at 5:30 p.m. Eastern Time (4:30 p.m. Central), Copart will conduct a conference call to discuss the results for the quarter. The call will be webcast live and available for access by clicking “Listen Here” at . A replay of the call will be available through August 2024 at . About Copart Founded in 1982, Copart is a global leader in online vehicle aucti...

 PRESS RELEASE

Western Forest Products Inc. Announces Election of Directors

Western Forest Products Inc. Announces Election of Directors VANCOUVER, British Columbia, May 08, 2024 (GLOBE NEWSWIRE) -- Western Forest Products Inc. (TSX: WEF) (“Western” or the “Company”) announces the following voting results in respect of the election of directors at its Annual Meeting of Shareholders (the “Meeting”) held today: Name of NomineeVotes For% ForVotes Against% AgainstLaura A. Cillis187,242,63788.96%23,246,58811.04%Steven Hofer192,441,53891.43%18,047,6878.57%Randy Krotowski181,115,05886.04%29,374,16713.96%Fiona Macfarlane188,112,00589.37%22,377,22010.63%Noordin Nanji148...

Banco Modal S.A.: Update following rating affirmation, outlook changed...

Our credit view of this issuer reflects its adequate liquidity and risk management, constrained by its asset risk strained by market risk and non-banking investments.

 PRESS RELEASE

Organovo Holdings, Inc. Announces Pricing of $5.25 Million Public Offe...

Organovo Holdings, Inc. Announces Pricing of $5.25 Million Public Offering SAN DIEGO, May 08, 2024 (GLOBE NEWSWIRE) -- Organovo Holdings, Inc. (Nasdaq: ONVO) (“Organovo” or the “Company”), a clinical stage biotechnology company focused on developing novel treatment approaches based on demonstration of clinical promise in three-dimensional (3D) human tissues, today announced the pricing of a public offering consisting of 6,562,500 shares of common stock (or pre-funded warrants in lieu thereof) and common warrants to purchase up to an aggregate of 6,562,500 shares of its common stock, at a ...

Village of Germantown, WI: Update to credit analysis

Our credit view of this issuer reflects its history of maintaining strong reserves and liquidity and its elevated leverage for the rating category.

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