Baidu Inc (9888 HK) - 4Q25: Earnings Beat; Milder Top-Line Decline Fue...

Baidu’s 4Q25 earnings beat our expectations. Revenue dropped 4% yoy to Rmb32.7b, in line with consensus estimate. Gross margin shrank 3ppt yoy to 44.2%, exceeding consensus expectation. Non-GAAP operating profit was Rmb2.3b, plunging 55% yoy, while non-GAAP operating profit margin came in at 7%. Non-GAAP net profit slumped 42% yoy to Rmb3.9b, beating consensus forecasts. Maintain BUY with a slightly lower target price of HK$175.00 (US$194.00).

Bible 4Q25 – Ride-Sharing & Delivery: Accelerating into 2026; robotaxi...

Today, we are publishing the Ride-sharing and delivery section of our 30th Tech Infrastructure Quarterly Bible. The Tech Bible is a must-read for any tech investor, as it summarizes the quarterly earnings reports from the over 140 companies we track, providing an update on our key perspectives and convictions. In the coming weeks we will publish sections on Smartphones, Automotive, Memory, Hyperscale & Cloud, Telecom Equipment, Industrials, PCs, Enterprise IT, Foundry, and Semicap Equipment. Ri...

Lucror Analytics - Morning Views Latam

In today's Morning Views publication we comment on developments of the following high yield issuers: Grupo Nutresa, Vale, Gerdau, Frontera Energy, Natura, Hunt Oil, Ero Copper, FS Agrisolutions

QUALCOMM Incorporated: Key facts and statistics - fiscal 2025

A summary company profile, detailing QUALCOMM Incorporated’s business operations and financial highlights.

Cisco Systems Inc: 1 director

A director at Cisco Systems Inc sold 10,233 shares at 78.596USD and the significance rating of the trade was 69/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clear...

Lucror Analytics - Morning Views Latam

In today's Morning Views publication we comment on developments of the following high yield issuers: Natura, YPF, C&W Communications, CSN, Alpek, Grupo Nutresa, Vista Energy Argentina, Gran Tierra Energy, Vale, Embraer

Unilever Plc: 1 director

A director at Unilever Plc sold after exercising options/sold 18,486 shares at 5,414p and the significance rating of the trade was 75/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over th...

Intel and Nvidia and Meta

Auto and industrial recovery, Semicap, Arista, Cisco, and more. Tech w...

Healthcare - Bi-Weekly: Poised For Strength

The HSHCI rose 1.8%, outperforming the HSI, which declined by 3.8% in the first two weeks of Feb 26. InSilico took the lead with a 16.9% share price increase, while CRO leaders WuXi AppTec and WuXi Bio gained 11.7% and 8.1% respectively. Innovent also outperformed its peers with a 9.2% rise. Fuelled by strong innovation, business development momentum, and robust 2025 results, the Chinese healthcare sector is expected to remain resilient in 2026. Maintain OVERWEIGHT.

Regional Morning Meeting Notes: Monday, February 16, 2026

Greater China Economics | Money Supply M0 growth was weaker in Jan 26 due to Chinese New Year effects, while M2 growth rose to 9.0% yoy, the highest since 2023. New bank loans surged to Rmb4.71t and new TSF rose to Rmb7.22t, both above consensus forecasts. However, outstanding bank loan growth fell to a record-low 6.1% yoy, highlighting fragile underlying credit demand despite strong front-loaded lending. Sector Update | Healthcare HSHCI rose 1.8%, outperforming the HSI, which declined b...

Cisco 2FQ26: thesis playing out: high single digit growth with AI and...

Cisco reported 2FQ26 (4Q25)

Healthcare - Internet Healthcare: Evolving Amid AI Innovation And Poli...

China’s internet healthcare segment is entering a new phase, fuelled by accelerating AI innovation from tech giants and policy support, eg the pilot programme for first-time online consultations. Despite profitability challenges, leading players are leveraging AI ecosystems and innovative strategies to position themselves for sustained long-term growth. We maintain BUY on Ali Health and PAGD. Maintain OVERWEIGHT on the China healthcare sector.

Benelux Morning Notes

Company comments AB InBev: Little to disappoint Adyen: 2H25 results – mixed results, soft guidance CVC Capital Partners: Executing well dsm-firmenich: Messy results Fagron: Beat on all lines, confident FY26 outlook to drive c.5% consensus EBITDA upgrade Flow Traders: EMEA saves the day KBC: Good results, opening up “jaws” further to 2028 Kinepolis: Canadian peer Cineplex 4Q25 results below consensus, January 2026 box office revenue up MICC: FX headwind leads to a 50bp margin miss in FY25 Montea:...

NIKE, Inc. - November 2025 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Hyperscalers to nearly double AI capex again in 2026. Implications

All four hyperscalers have now reported. AI capex is set to nearly double for a second consecutive year. Click the link below for a single slide on the implications for XPU spending.

PSA Media and Entertainment: Sony (6758 JT) FY25 Q3 Review and Outlook

Sony’s FY25 Q3 performance came in ahead of consensus but the shares barely moved. Pelham Smithers reviews the performance and assesses the positives and negatives ahead.

Greater China Strategy Alpha Picks: February Conviction Calls.

Chinese equities recovered in January, with the HSI and MSCI China rising 6.9% and 5.0% mom respectively. Given the supportive macro policy environment, we maintain a constructive view on the markets despite the risk of further volatility in February. Accordingly, we are adding Alibaba, Ganfeng Lithium, and Minth to our BUY list, and Meituan to our SELL list.

China Internet. Deeper Dive Into Agentic AI And The Rise Of AI Super A...

To-C applications growth is accelerating among mega-cap players with super apps, while emerging unicorns focus on To- B and To-prosumers in specific AI scenarios/verticals and on physical AI in verticals such as mobility and smartphone. For the next 6-12 months, we are eyeing key AI narratives: a) rollout of super apps leveraging on agentic AI, b) leading LLMs in specific verticals unlocking monetisation potential, and c) key drivers of cloud revenue growth. Maintain OVERWEIGHT. Top BUYs: Baidu,...

China Internet: Deeper dive into agentic AI and the rise of AI super a...

Highlights  To-C applications growth is accelerating among mega-cap players with super apps, while emerging unicorns focus on To-B and To-prosumers in specific AI scenarios/verticals and on physical AI in verticals such as mobility and smartphone. For the next 6-12 months, we are eyeing key AI narratives: a) roll-out of super apps leveraging on agentic AI, b) leading LLMs in specific verticals unlocking monetisation potential, and c) key drivers of cloud revenue growth. Over time, we expect fur...