MARKETS - Page 12

On Friday, Samsung Electronics, the world’s largest memory chip maker, made a significant announcement. It estimated that its first-quarter operating profit would surge more than 10-fold, a remarkable achievement that surpasses market expectations. This positive outlook is not just a result of the rebound in chip prices but also the promising potential of its mobile division. The successful launch of its Galaxy S24 smartphones in January, featuring functions based on Google’s generative AI technology, is expected to significantly boost earnings

According to two sources familiar with the matter, Zeekr, the luxury electric vehicle (EV) brand owned by Chinese automaker Geely (0175. HK), has resumed its efforts to raise $500 million through an initial public offering (IPO) in New York. The company had temporarily halted its listing plans in November due to a misalignment in valuation expectations between investors and the company, compounded by unstable global financial market conditions at the time. Geely has already raised funds in a private sale

In a departure from its trend over the past four years, Tesla recorded a decrease in quarterly deliveries, falling short of Wall Street projections. Described by some as “ugly,” this performance came despite price reductions failing to invigorate demand in an intensely competitive market. The electric car manufacturer, spearheaded by Elon Musk, only managed to deliver 386,810 vehicles in the quarter, which was significantly below analysts’ forecasts. The results were the lowest since the COVID-19 pandemic in early 2020 and

The global electric vehicle (EV) race is heating up, and Nissan is determined to stay ahead of the curve. In a recent press briefing, Nissan CEO Makoto Uchida announced the company’s commitment to invest in Renault’s electric vehicle unit, Ampere, despite the shelving of its initial public offering (IPO) plans. This move underscores Nissan’s strategic alliance with Renault and its determination to solidify its position as a significant player in the burgeoning EV market. Uchida’s message was clear: “We want

Alibaba Group (9988.HK), the world’s top ecommerce company, dumped plans to list its logistics subsidiary Cainiao Smart Logistics Network on Tuesday and said it would instead buy up to $3.75 billion in the firm from shareholders. The move, which comes just six months after the ecommerce giant unveiled a major restructuring plan, is designed to give each of its businesses the flexibility to seek capital increases or market debuts. Founder Jack Ma’s Alibaba will adopt a holding company management model

The self-described front page of the internet’s user-generated discussion forums ended its first day of trading up 48% on Thursday, signaling investor appetite for initial public offerings of promising yet loss-making companies could be returning. Shares of Reddit (RDDT), whose IPO valued the company at $6.4 billion, closed at $34 each on the New York Stock Exchange, up from the $24 to $35 range set in its filing. Reddit, a platform that has operated since 2005 without turning an annual

On Tuesday, the Japanese yen experienced a significant decline following the Bank of Japan’s highly anticipated decision to terminate its long-standing hostile interest rate policy. Meanwhile, the dollar gained ground in anticipation of the Federal Reserve’s imminent rate decision. In a landmark departure from years of extensive monetary stimulus, the Bank of Japan (BOJ) concluded its two-day monetary policy meeting by discontinuing eight years of negative interest rates and other unconventional policies. The move shifted the focus for markets, analysts,

Haleon, a major British consumer healthcare company, revealed plans by its biggest shareholder, Pfizer, to reduce its ownership stake. Through a public offering of 630 million shares, Pfizer aims to bring its ownership down to around 24%. The offering’s price per share will likely be announced around March 19th, following a book-building process. This move aligns with Pfizer’s previously announced strategy of gradually decreasing its stake in Haleon. This measured approach underscores Pfizer’s long-term belief in Haleon’s potential and commitment

Last year, Warren Buffett’s Berkshire Hathaway (BRKa.N) boosted the compensation of Greg Abel, his appointed successor, to $20 million, coinciding with the conglomerate’s achievement of a record operating profit. The company, headquartered in Omaha, Nebraska, advocated against six shareholder proposals. These proposals included calls for increased disclosure regarding efforts to curb greenhouse gases and enhance diversity, tighter monitoring of safety measures within its BNSF railroad division, and dialogue on the extent to which its operations are influenced by Chinese governmental

The demand for one of the riskiest forms of corporate debt in the United States is experiencing a resurgence this year. Companies are responding to investor preferences for assets capable of securing elevated yields over multiple years, especially in anticipation of forthcoming interest rate decreases. This trend is contributing to the revitalization of the $1.4 trillion global junk bond market, as businesses seek to stave off potential distress during economic downturns. However, it’s also exacerbating the divergence between the highest