EVERCEL Announces Clarification of its February 20, 2024 Press Release NEW YORK, May 16, 2024 (GLOBE NEWSWIRE) -- Evercel, Inc. [OTC EXPERT MARKET: EVRC] Evercel, Inc. wishes to clarify its prior press release of February 20, 2024 regarding its Plan of Liquidation and Dissolution. Evercel’s decision to place Evercel’s assets into a liquidating trust has no impact on ZAGG or its operations. Evercel is a passive and minority investor in ZAGG. ZAGG is solely managed by CoronaPark, and has been since CoronaPark took ZAGG private in 2021. The decision of Evercel to place its assets in a l...
ORI reported lower-than-expected earnings in 1Q24. Looking ahead, we expect improvements in core performance in 2Q24. However, the business outlook remains challenging. We have cut our earnings forecasts for 2024-25 by 20-25% due to a more conservative assumption. Maintain BUY. Target price: Bt7.50.
Despite decent earnings and hotel growth in 1Q24, 2Q24 earnings could face several challenges. Thailand and the Maldives will enter the low travel season in 2Q24 while the hotel in Japan is still ramping up occupancy. The high-margin hotel in Pattaya will close a huge portion of the rooms for renovations. The impact of the new lease for the hotel in Hua Hin could be realised in 2Q24. Maintain HOLD. Target price: Bt46.00.
In 2Q24, we estimate a recovery in core profit, driven by rising coal sales volume and peak season activity in the utilities sector. Short-term prospects suggest a gradual recovery in gas and coal prices, buoyed by growing economic activities in China and India. There is optimism over strengthening gas prices in 2H24, supported by declining gas production capacity in the US and an anticipated peak season towards the yearend. Maintain HOLD. Target price: Bt5.00.
DATA Communications Management Corp.is a Canadian-based provider of marketing and business communication solutions to companies in North America. Its technology-enabled content and workflow management capabilities solve the complex branding, communications, logistics, and regulatory requirements of leading enterprises so its customers can accomplish more in less time. Its services include printing, data & content management, labels & asset tracking, location-specific marketing, and multimedia ca...
AOT concluded 1HFY24 with 61.2m passengers, 51% of its FY24 target of 120m. 2QFY24 results of Bt5.8b were in line with our and consensus expectations. Going into the low travel season in 2HFY24, we see an encouraging tourist momentum, but at the same time, there is still a potential downside if the tourism recovery pace is slower than expected. Maintain BUY. Target price: Bt75.00.
KEY HIGHLIGHTS Update Airports of Thailand (AOT TB/BUY/Bt67.00/Target: Bt75.00) Remain hopeful going into 2HFY24. Banpu (BANPU TB/HOLD/Bt5.30/Target: Bt5.00) Gas prices still pressuring core profit in 2Q24. Central Plaza Hotel (CENTEL TB/HOLD/Bt45.75/Target: Bt46.00) A challenging 2Q24 awaits. Origin Property (ORI TB/BUY/Bt6.10/Target: Bt7.50) Expect improvement in 2Q24, but business outlook remains challenging.
GREATER CHINA Sector Automobile: Weekly: PV sales rebound on delayed booking of sales. Maintain MARKET WEIGHT. Top BUYs: Geely, CATL, Tuopu and Yadea. Top SELLs: Li Auto and XPeng. Results Baidu Inc (9888 HK/BUY/HK$108.40/Target: HK$126.00): 1Q24: Earnings beat; subdued ad revenue growth stemming from soft macro. JD.com (9618 HK/BUY/HK$132.40/Target: HK$151.00): 1Q24: Solid earnings beat; high single-digit revenue growth on track. Update Grand Pharmaceutical Group (512 HK/NOT RATED/HK$5.05): Nuc...
SIA’s FY24 headline net profit of S$2.67b (+24% yoy) was in line with our expectations at 101% of our forecast. FY24’s final DPS of 38 S cents was slightly above our projection. We expect SIA’s earnings to go downhill in the next two years, driven by pax and cargo yield moderation as competition catches up, but still meaningfully above pre-pandemic levels with SIA’s strengthened market leading position. Maintain HOLD on SIA, with a slightly higher target price of S$6.35, based on 1.18x FY25F P/B...
Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar. To request full and unrestricted access to Lucror’s research and analytics platform, please visit
Consumer companies recorded an average NPAT growth of 14.8% in 1Q24 and retailers recorded an average growth of 151.1% yoy. A recurring theme among consumer companies is that a decline in raw material prices caused margin expansion and profit growth. Retail companies saw triple-digit growth as Lebaran fell in 1Q24 compared to 2Q last year. Maintain OVERWEIGHT. Our picks: ACES and CMRY.
Moody's Ratings (Moody's) has assigned ratings to four classes of notes issued by Cerberus Loan Funding XLVI, L.P. (the "Issuer" or "Cerberus XLVI"). Moody's rating action is as follows: U.S.$216,000,000 Class A Senior Secured Floating Rate Notes due 2036, Definitive Rating Assigned Aaa (sf) U....
Erasca Announces Strategic In-Licensing of RAS-Targeting Franchise Pan-RAS molecular glue ERAS-0015 and pan-KRAS inhibitor ERAS-4001 are potent, oral inhibitors with potential best-in-class profiles in RASm solid tumors Pipeline prioritization and workforce restructuring sharpens focus on programs targeting the highest unmet needs and with highest probability of success Priced concurrent $160 million equity offering Erasca to host conference call and webcast Friday, May 17, 2024 at 8:30 am ET SAN DIEGO, May 16, 2024 (GLOBE NEWSWIRE) -- Erasca, Inc. (Nasdaq: ERAS), a clinical-...
HUTCHMED Highlights Sovleplenib Phase III ESLIM-01 Study and Hematological Malignancy Programs Data to be Presented at the upcoming EHA2024 Congress HONG KONG, SHANGHAI and FLORHAM PARK, N.J., May 17, 2024 (GLOBE NEWSWIRE) -- HUTCHMED (China) Limited (“”) (Nasdaq/AIM:HCM; HKEX:13) today announces that topline and subgroup results from the ESLIM-01 Phase III study of sovleplenib, as well as new and updated data related to novel investigational hematological malignancy therapies HMPL-306, HMPL-760 and tazemetostat, will be presented at the upcoming European Hematology Association (“EHA”) Hy...
Erasca Announces Pricing of Underwritten Offering of Common Stock SAN DIEGO, May 16, 2024 (GLOBE NEWSWIRE) -- Erasca, Inc. (Nasdaq: ERAS), a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers, today announced the pricing of an underwritten offering of 86,486,486 shares of its common stock at a price of $1.85 per share. All of the shares to be sold in the offering are to be sold by Erasca. The gross proceeds to Erasca from the offering, before deducting the underwriting dis...
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