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Results came out one after another, Malaysia National Re rose and stopped, and Du Fu fell
Q4 net profit reached a record high, and Malaysian National Reinsurance rose and fell
Insurance revenue soared, Malaysian National Reinsurance $MNRB(6459.MY$ At the end of fiscal year 2024, net profit was reported at RM232,631,000, a year-on-year increase of 1.45 times, a record high.
After the announcement of the results, the stock immediately jumped higher in midday trading, hitting a rising and closing market level, rising 30% or 54 cents to RM2.34, setting a 52-week high.
When the market closed, the stock closed at RM2.32, up 52 cents or 28.9%, making it the highest rising stock today.
Net profit plummeted 60%, and Du Fu Technology took back recent gains
Another Dufu Technology, which also announced results today $DUFU(7233.MY$ Net profit for the first quarter of fiscal year 2024 fell to RM4.255,000, a sharp drop of 59.3% year-on-year, due to the decline in hard disk drive-related revenue.
The company reported revenue of RM57.859,000 for the first quarter ending the end of March, a year-on-year decrease of 22%.
The stock had a heavy decline in midday trading. At one point, it fell nearly 6%. When the market closed, the stock closed at RM2.20, a drop of 11 cents, or 4.8%.
Source: Nanyang Siang Pao
Disclaimer: This content is for informational and educational purposes only, and does not constitute any specific investment, investment strategy, or recommendation endorsement. The reader shall bear any risk and responsibility arising from reliance on this content. Be sure to exercise your own independence before making any investment decisions...
Q4 net profit reached a record high, and Malaysian National Reinsurance rose and fell
Insurance revenue soared, Malaysian National Reinsurance $MNRB(6459.MY$ At the end of fiscal year 2024, net profit was reported at RM232,631,000, a year-on-year increase of 1.45 times, a record high.
After the announcement of the results, the stock immediately jumped higher in midday trading, hitting a rising and closing market level, rising 30% or 54 cents to RM2.34, setting a 52-week high.
When the market closed, the stock closed at RM2.32, up 52 cents or 28.9%, making it the highest rising stock today.
Net profit plummeted 60%, and Du Fu Technology took back recent gains
Another Dufu Technology, which also announced results today $DUFU(7233.MY$ Net profit for the first quarter of fiscal year 2024 fell to RM4.255,000, a sharp drop of 59.3% year-on-year, due to the decline in hard disk drive-related revenue.
The company reported revenue of RM57.859,000 for the first quarter ending the end of March, a year-on-year decrease of 22%.
The stock had a heavy decline in midday trading. At one point, it fell nearly 6%. When the market closed, the stock closed at RM2.20, a drop of 11 cents, or 4.8%.
Source: Nanyang Siang Pao
Disclaimer: This content is for informational and educational purposes only, and does not constitute any specific investment, investment strategy, or recommendation endorsement. The reader shall bear any risk and responsibility arising from reliance on this content. Be sure to exercise your own independence before making any investment decisions...
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Morinami Plantation hopes to enter solar and digital centers
Morinami cultivation $SIMEPLT(5285.MY$ It was announced on Tuesday that the largest shareholder, the National Investment Agency (PNB), plans to jointly develop a 1,000-acre Jilin Integrated Green Industrial Park (KIGIP) development project. Of these, 660 acres will be used to develop solar power plants, which will be owned and operated by Senami.
The news spurred the stock price to skyrocket this morning. At one point, it rose to RM4.73, a 2-year high.
$SIMEPLT(5285.MY$
Given the company's huge basement, Bank of Malaysia's investment bank research analysts are optimistic that it will be the potential beneficiaries of the Green Industrial Park, the 5th largest solar project (LSS5), and data center requirements.
The company had already leased the land to a third-party solar power plant. Looking back at LSS4, about 40% of the quota granted by the government for solar power plants was on the company's land. In light of this, we believe the company has the potential to further benefit from the recently announced LSS5.
According to reports, the company is also exploring opportunities to develop data centers with partners. Analysts estimate potential locations including Kulai, Johor and Kedah Kulim.
Analysts believe the company may maximize profits by selling land to the government or industrial parks or renewable energy operators. Alternatively, become a large renewable energy provider to earn stable income, or rent out land.
Furthermore, the company also confirmed that the industrial sector will be within the next 5 years...
Morinami cultivation $SIMEPLT(5285.MY$ It was announced on Tuesday that the largest shareholder, the National Investment Agency (PNB), plans to jointly develop a 1,000-acre Jilin Integrated Green Industrial Park (KIGIP) development project. Of these, 660 acres will be used to develop solar power plants, which will be owned and operated by Senami.
The news spurred the stock price to skyrocket this morning. At one point, it rose to RM4.73, a 2-year high.
$SIMEPLT(5285.MY$
Given the company's huge basement, Bank of Malaysia's investment bank research analysts are optimistic that it will be the potential beneficiaries of the Green Industrial Park, the 5th largest solar project (LSS5), and data center requirements.
The company had already leased the land to a third-party solar power plant. Looking back at LSS4, about 40% of the quota granted by the government for solar power plants was on the company's land. In light of this, we believe the company has the potential to further benefit from the recently announced LSS5.
According to reports, the company is also exploring opportunities to develop data centers with partners. Analysts estimate potential locations including Kulai, Johor and Kedah Kulim.
Analysts believe the company may maximize profits by selling land to the government or industrial parks or renewable energy operators. Alternatively, become a large renewable energy provider to earn stable income, or rent out land.
Furthermore, the company also confirmed that the industrial sector will be within the next 5 years...
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Summary Of Analyst Estimates
Morgan Stanley:
❖ CPI M/M: 0.40%
❖ CPI Y/Y: 3.1%
❖ Core M/M: 0.27%
❖ Core Y/Y: 3.7%
JP Morgan:
❖ CPI M/M: 0.40%
❖ CPI Y/Y: 3.1%
❖ Core M/M: 0.28%
❖ Core Y/Y: 3.7%
BofA:
❖ CPI M/M: 0.42%
❖ CPI Y/Y: 3.1%
❖ Core M/M: 0.31%
❖ Core Y/Y: 3.7%
Goldman Sachs
❖ CPI M/M: 0.44%
❖ CPI Y/Y: 3.2%
❖ Core M/M: 0.32%
❖ Core Y/Y: 3.7%
$S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Dow Jones Industrial Average(.DJI.US$ $SPDR S&P 500 ETF(SPY.US$ $Invesco QQQ Trust(QQQ.US$
Morgan Stanley:
❖ CPI M/M: 0.40%
❖ CPI Y/Y: 3.1%
❖ Core M/M: 0.27%
❖ Core Y/Y: 3.7%
JP Morgan:
❖ CPI M/M: 0.40%
❖ CPI Y/Y: 3.1%
❖ Core M/M: 0.28%
❖ Core Y/Y: 3.7%
BofA:
❖ CPI M/M: 0.42%
❖ CPI Y/Y: 3.1%
❖ Core M/M: 0.31%
❖ Core Y/Y: 3.7%
Goldman Sachs
❖ CPI M/M: 0.44%
❖ CPI Y/Y: 3.2%
❖ Core M/M: 0.32%
❖ Core Y/Y: 3.7%
$S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Dow Jones Industrial Average(.DJI.US$ $SPDR S&P 500 ETF(SPY.US$ $Invesco QQQ Trust(QQQ.US$
2
S&P 500 Opening Bell Heatmap (Mar. 11, 2024)
$SPDR S&P 500 ETF(SPY.US$ -0.38%
$Invesco QQQ Trust(QQQ.US$ -0.64%
$Dow Jones Industrial Average(.DJI.US$ -0.391%
$iShares Russell 2000 ETF(IWM.US$ -0.73%
Stocks on move: $MSTR +6.2%, $COIN +1.4%, $AAPL +1.7%, $TSLA +3.6%, $PDD +3.1%, $BABA +2.4%, || $SMCI -9.2%, $META -4.9%, $ARM -4.3%, $NVDA -2.2%, $BA -2.9%, $LLY -3.4%, $AMZN -1.7% (🔴)
$SPDR S&P 500 ETF(SPY.US$ -0.38%
$Invesco QQQ Trust(QQQ.US$ -0.64%
$Dow Jones Industrial Average(.DJI.US$ -0.391%
$iShares Russell 2000 ETF(IWM.US$ -0.73%
Stocks on move: $MSTR +6.2%, $COIN +1.4%, $AAPL +1.7%, $TSLA +3.6%, $PDD +3.1%, $BABA +2.4%, || $SMCI -9.2%, $META -4.9%, $ARM -4.3%, $NVDA -2.2%, $BA -2.9%, $LLY -3.4%, $AMZN -1.7% (🔴)
1
All the headline numbers have showed that the labor market is incredibly strong.
But is it really?
Currently, the US has a record ~8.6 MILLION people that are holding 2 or more jobs.
Since 2020, nearly 2.6 million people have taken on an additional job.
Even in the 2008 financial crisis, the worst recession since the Great Depression, this did not happen.
On top of this, 10 of the last 11 months have seen downward revisions in their jobs number.
Is the labor market really THAT strong?
$S&P 500 Index(.SPX.US$ $Dow Jones Industrial Average(.DJI.US$ $Nasdaq Composite Index(.IXIC.US$
But is it really?
Currently, the US has a record ~8.6 MILLION people that are holding 2 or more jobs.
Since 2020, nearly 2.6 million people have taken on an additional job.
Even in the 2008 financial crisis, the worst recession since the Great Depression, this did not happen.
On top of this, 10 of the last 11 months have seen downward revisions in their jobs number.
Is the labor market really THAT strong?
$S&P 500 Index(.SPX.US$ $Dow Jones Industrial Average(.DJI.US$ $Nasdaq Composite Index(.IXIC.US$
1
3
🔹 Adj EPS: $2.00 (Est. $1.69)
🔹 Sales: $13.60B (Est. $13.54B)
🔹 Passenger Revenue: $12.42B (Est. $12.39B)
🔹 Operating Revenue: $13.63B (Est. $13.54B)
🔹 Available Seat Miles: 73.73B (Est. 73.48B)
🔹 PRASM: 16.85C (Est. 16.87C)
🔹 Q4 Capacity: Up 14.7% YoY
🔹 Avg. Fuel Price Per Gallon: $3.13, Down 11.6% YoY
🔹 Sees Q1 Adj EPS Loss b/w $0.35-$0.85 (Est $0.21)
🔹 Sees FY'24 Adj EPS b/w $9-$11 (Est. $9.45)
CEO Scott Kirby's Comments:
🔸 "Delivered on ...
🔹 Sales: $13.60B (Est. $13.54B)
🔹 Passenger Revenue: $12.42B (Est. $12.39B)
🔹 Operating Revenue: $13.63B (Est. $13.54B)
🔹 Available Seat Miles: 73.73B (Est. 73.48B)
🔹 PRASM: 16.85C (Est. 16.87C)
🔹 Q4 Capacity: Up 14.7% YoY
🔹 Avg. Fuel Price Per Gallon: $3.13, Down 11.6% YoY
🔹 Sees Q1 Adj EPS Loss b/w $0.35-$0.85 (Est $0.21)
🔹 Sees FY'24 Adj EPS b/w $9-$11 (Est. $9.45)
CEO Scott Kirby's Comments:
🔸 "Delivered on ...