Capital Power reports voting results from the 2024 annual meeting of shareholders EDMONTON, Alberta, May 03, 2024 (GLOBE NEWSWIRE) -- The annual meeting of shareholders (“annual meeting”) for Capital Power Corporation (TSX: CPX) (“Capital Power” or “the Company”) was held on April 30, 2024 in Edmonton, Alberta. Each of the matters voted upon at the annual meeting is discussed in detail in the Company’s Management Proxy Circular dated March 11, 2024 and available on the Company’s website at: . The total number of shares represented by shareholders present in person and by proxy at the...
GREATER CHINA Strategy Alpha Picks: May Conviction Call: Adding CR Beer, Crystal, Geely, Haier, Kuaishou, Ningbo Tuopu, Pinduoduo, Shenzhou, and Tencent to our BUY list, closing out SELL calls. INDONESIA Strategy Alpha Picks: Slight Outperformance In A Bear Market: Our picks are BSDE, TLKM, ACES, BBTN, CMRY, SIDO, JSMR and AKRA. MALAYSIA Strategy Alpha Picks: Well-Positioned For 1Q Results Season: Our April picks again beat the KLCI. May 24 picks: GENM, Inari, Mah Sing, MrDIY, MYEG, Press Meta...
GREATER CHINA Strategy Alpha Picks: May Conviction Call Adding CR Beer, Crystal, Geely, Haier, Kuaishou, Ningbo Tuopu, Pinduoduo, Shenzhou, and Tencent to our BUY list, closing out SELL calls. Small-Mid Cap Monthly Reiterate BUY on Crystal International. Sector Automobile Weekly: EV sales pick up; take...
China’s EV sales picked up strongly last week. Except for Li Auto, most EV companies in China witnessed buoyant sales growth during the week. Tesla saw the fastest wow sales growth due to price cuts, while Aito posted the sharpest wow sales growth, given the ramp-up of the new M9 deliveries. This week, we also have our takeaways from Beijing Auto Show. Maintain MARKET WEIGHT. Top BUYs: Geely, CATL, Tuopu and Yadea. Top SELLs: Li Auto and XPeng. Remove BYD from the top SELL list.
The HSI and MSCI China rose 7.4% and 6.4% mom respectively in April, lifted by news of a stock connect scheme expansion and further easing of restrictions on property purchases in China. With the July Politburo likely to see further supportive policy rollout, we are adding beneficiaries of improving domestic consumption − CR Beer, Crystal, Geely, Haier, Kuaishou, Ningbo Tuopu, Pinduoduo, Shenzhou and Tencent − to our BUY list, and closing out our SELL calls.
Apr 24 GGR was in line with our estimate but 2% above consensus forecast. While we expect a GGR surge in the coming May Golden Week, we see margin pressures for companies under our coverage in the coming quarters, given higher marketing expenses and labour costs rising from the intensifying industry competition, and potential market share losses from the ongoing facility upgrades. Downgrade the sector to MARKET WEIGHT.
Capital Power announces first quarter 2024 results Genesee Repowering project hits major milestones EDMONTON, Alberta, May 01, 2024 (GLOBE NEWSWIRE) -- Capital Power Corporation (TSX: CPX) today released financial results for the quarter ended March 31, 2024. Financial highlights Generated adjusted funds from operations (AFFO) of $142 million and net cash flows used in operating activities of $334 millionGenerated adjusted EBITDA of $279 million and a net income of $205 million Strategic highlights Successful commissioning began on Genesee repower unit 1 simple cycl...
Capital Power declares dividends for its Common and Preference shares EDMONTON, Alberta, April 30, 2024 (GLOBE NEWSWIRE) -- The Board of Directors for Capital Power Corporation (“Capital Power”) (TSX: CPX) declared a dividend of $0.615 per share on the outstanding common shares for the quarter ending June 30, 2024. The dividend is payable on July 31, 2024 to shareholders of record at the close of business on June 28, 2024. The Board of Directors also declared the following dividends on its Cumulative Rate Reset Preference Shares: SharesTSX Stock SymbolDividend Per ShareRecord DatePaym...
PARIS--(BUSINESS WIRE)-- Regulatory News: Pernod Ricard (Paris:RI): Communiqué de presse – Paris, 30 Avril 2024 Ne pas distribuer directement ou indirectement au Canada ou au Japon. La diffusion de ce document peut, dans certains pays, faire l’objet d’une réglementation spécifique. Les personnes en possession du présent document doivent s’informer des éventuelles restrictions locales et s’y conformer. Le présent communiqué ne constitue pas et ne fait pas partie d’une offre de valeurs mobilières ou une quelconque sollicitation d’achat ou de souscription de valeurs mobilières aux Etats-Uni...
STMicroelectronics Announces Status of Common Share Repurchase Program STMicroelectronics Announces Status ofCommon Share Repurchase Program Disclosure of Transactions in Own Shares – Period from Apr 22, 2024 to Apr 26, 2024 AMSTERDAM – April 29, 2024 -- STMicroelectronics N.V. (the “Company” or “STMicroelectronics”), a global semiconductor leader serving customers across the spectrum of electronics applications, announces full details of its common share repurchase program (the “Program”) disclosed via a press release dated July 1, 2021. The Program was approved by a shareholder resoluti...
GAC’s 1Q24 net profit came in at Rmb1,220m (-21% yoy), above our estimate but below consensus’. The 1Q24 earnings beat to our estimates lies in the margins of JV brands. Despite a sales decline, the JV brands’ net profit per vehicle grew 14% yoy in 1Q24. We lift our 2024-26 net profit forecasts by 19%/19%/24% to Rmb4.29b/Rmb4.10b/ Rmb4.11b respectively. Raise target price from HK$3.00 to HK$3.30. Upgrade from SELL to HOLD.
We raise 2024 forecasts on China’s PV sales growth and PEV sales growth from +8%/+21% to +10%/+24% on bigger-than-expected subsidies for the cash-for-clunker program and zero downpayment auto loans. Meanwhile, we lift the target prices of BYD, Geely, GWM, GAC and Yadea to HK$160.00/HK$13.00/HK$13.50/HK$3.30 /HK$20.00 respectively. Upgrade GWM from HOLD to BUY, and upgrade GAC from SELL to HOLD. Top BUY: CATL, Geely and Yadea. Top SELL: BYD, Li Auto and XPeng.
>We reiterate our Outperform rating after a road show in Paris - We organised a road show in Paris with STMicroelectronics, following in the Q1 2024 earnings publication (Flash in French /Flash in English). The group was represented by Jean Marc Chery (CEO), Lorenzo Grandi (CFO) and the IR team (Celine Berthier and Cedric Pugni). After having sharply downgraded its forecasts for 2024, management revisited the reasons and quantification of the warning, as well as the s...
>Neutral rating maintained and target price unchanged at € 150 - Neutral rating maintained with a target price of € 150. The valuation at 16x P/E NTM is sufficiently low and correctly reflects the potential for downward adjustments to the guidance for Q4 2023-24e and FY 2023-24e. In the short term, upside for the share remains limited given the uncertainties surrounding the trajectory for a recovery in growth.Following the publication of Q3 2023-24 sales, our ta...
>Nous réitérons notre opinion Surperformance après un roadshow à Paris - Nous avons organisé un roadshow à Paris avec STMicroelectronics, à la suite des résultats du T1 24 (Flash en Français /Flash in English). Le groupe était représenté par Jean Marc Chery (CEO), Lorenzo Grandi (CFO) et l’équipe IR (Celine Berthier et Cedric Pugni). Après avoir significativement révisé en baisse ses prévisions pour 2024, le management est revenu sur les raisons et la quantification d...
>Neutre maintenu avec un OC inchangé à 150 € - Neutre maintenu avec un OC de 150 €. La valorisation à 16x de PE NTM est suffisamment basse et reflète fidèlement les potentiels ajustements à la baisse sur le T4 23/24e et l’exercice FY 23/24e. A court terme, le potentiel d’appréciation du cours reste limité eu égard aux incertitudes autour de la trajectoire de reprise de la croissance.Suite à la publication du CA T3 23/24, nous retenons que 1/ le déstockage des wh...
KEY HIGHLIGHTS Sector Automobile We raise 2024 forecasts on China’s PV sales growth and PEV sales growth from +8%/+21% to +10%/+24% on bigger-than-expected subsidies for the cash-for-clunker program and zero downpayment auto loans. Meanwhile, we lift the target prices of BYD, Geely, GWM, GAC and Yadea to HK$160.00/HK$13.00/HK$13.50/HK$3.30 /HK$20.00 respectively. Upgrade GWM from HOLD to BUY, and upgrade GAC from SELL to HOLD. Top BUY: CATL, Geely and Yadea. Top SELL: BYD, Li Auto and XPeng. ...
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