Malaysian conglomerate Sunway Bhd. is abandoning its takeover bid of IJM Corp Bhd. after failing to secure enough support from the target company’s shareholders. Sunway said its conditional voluntary takeover offer for IJM “has lapsed” after it fell short of the 50% threshold by the deadline on Monday. The failed 11 billion ringgit ($2.7 billion) bid leaves IJM an independent company after shareho...
Malaysian conglomerate Sunway Bhd. is abandoning its takeover bid of IJM Corp Bhd. after failing to secure enough support from the target company’s shareholders. Sunway said its conditional voluntary takeover offer for IJM “has lapsed” after it fell short of the 50% threshold by the deadline on Monday. The failed 11 billion ringgit ($2.7 billion) bid leaves IJM an independent company after shareholders rejected the share-heavy offer viewed by critics of undervaluing the company. The result stifles Sunway’s ambitions to create what would arguably be the biggest construction firm in the Southeast Asian country, and leaves IJM’s construction, property and infrastructure businesses intact under the same management. The bid drew scrutiny over concerns it would dilute equity interests of the government and rights of Malaysia’s indigenous majority. Sunway is largely controlled by Malaysian ethnic Chinese tycoon Jeffrey Cheah Fook Ling . Read More: Sunway’s $2.7 Billion IJM Bid Questioned Over Bumiputera Rights A corruption probe involving individuals linked to IJM also added a layer of uncertainty. “We respect the decision of IJM shareholders and the outcome of the process,” Sunway said in a statement late Monday. “In any transaction of this scale, differing perspectives are natural, and we acknowledge the robust public discourse that has accompanied the offer.”
stockcam Globalstar ( GSAT ) shares jumped on Friday after it was reported that Amazon ( AMZN ) was in talks to acquire the company and boost its internet satellite offering to compete with SpaceX ( SPACE ). And while that may be a straightforward story on its own, there is a 3.7 trillion dollar monkey wrench to consider. Apple ( AAPL ). The iPhone maker holds roughly a 20% stake in Globalstar ( G...
stockcam Globalstar ( GSAT ) shares jumped on Friday after it was reported that Amazon ( AMZN ) was in talks to acquire the company and boost its internet satellite offering to compete with SpaceX ( SPACE ). And while that may be a straightforward story on its own, there is a 3.7 trillion dollar monkey wrench to consider. Apple ( AAPL ). The iPhone maker holds roughly a 20% stake in Globalstar ( GSAT ), meaning any acquisition of Globalstar would require negotiations with Apple. Media reports suggested that the companies were still negotiating over some complexities of a deal following lengthy talks. Apple acquired the stake by making a $400M equity investment in Globalstar, as well as $1.1B in infrastructure payments to help Globalstar build its network. Apple uses Globalstar's satellites for its Emergency SOS feature on the iPhone 14 series (and later), as well as the Apple Watch, which allows users to make quick calls and texts to emergency services; it also alerts emergency contacts with a user's location via their cellular service. The feature was first unveiled in the U.S. and has rolled out across the world . While many iPhone users (and first responders) have praised the feature, Apple has still not charged for the service, despite initially saying it would after a short time. Assuming a deal between Amazon and Globalstar goes through, Seeking Alpha analyst Julia Ostian believes Amazon could offer its own direct-to-device wireless service, perhaps as a perk for Prime subscribers. “I personally expect them to include it as a service tier within Amazon Prime or maybe integrate it with AWS and even Alexa for connectivity in remote areas,” Ostian said via email. “By using its massive existing customer base, Amazon has a chance at competing with Starlink, which is already far ahead in adoption.” Julian Lin , Investing Group Leader for Best Of Breed Growth Stocks, shared a similar take. “I would fully expect [Amazon] to offer its own cell phone service, as it woul...
stockcam Globalstar ( GSAT ) shares jumped on Friday after it was reported that Amazon ( AMZN ) was in talks to acquire the company and boost its internet satellite offering to compete with SpaceX ( SPACE ). And while that may be a straightforward story on its own, there is a 3.7 trillion dollar monkey wrench to consider. Apple ( AAPL ). The iPhone maker holds roughly a 20% stake in Globalstar ( G...
stockcam Globalstar ( GSAT ) shares jumped on Friday after it was reported that Amazon ( AMZN ) was in talks to acquire the company and boost its internet satellite offering to compete with SpaceX ( SPACE ). And while that may be a straightforward story on its own, there is a 3.7 trillion dollar monkey wrench to consider. Apple ( AAPL ). The iPhone maker holds roughly a 20% stake in Globalstar ( GSAT ), meaning any acquisition of Globalstar would require negotiations with Apple. Media reports suggested that the companies were still negotiating over some complexities of a deal following lengthy talks. Apple acquired the stake by making a $400M equity investment in Globalstar, as well as $1.1B in infrastructure payments to help Globalstar build its network. Apple uses Globalstar's satellites for its Emergency SOS feature on the iPhone 14 series (and later), as well as the Apple Watch, which allows users to make quick calls and texts to emergency services; it also alerts emergency contacts with a user's location via their cellular service. The feature was first unveiled in the U.S. and has rolled out across the world . While many iPhone users (and first responders) have praised the feature, Apple has still not charged for the service, despite initially saying it would after a short time. Assuming a deal between Amazon and Globalstar goes through, Seeking Alpha analyst Julia Ostian believes Amazon could offer its own direct-to-device wireless service, perhaps as a perk for Prime subscribers. “I personally expect them to include it as a service tier within Amazon Prime or maybe integrate it with AWS and even Alexa for connectivity in remote areas,” Ostian said via email. “By using its massive existing customer base, Amazon has a chance at competing with Starlink, which is already far ahead in adoption.” Julian Lin , Investing Group Leader for Best Of Breed Growth Stocks, shared a similar take. “I would fully expect [Amazon] to offer its own cell phone service, as it woul...
Bond traders kicked off the week betting that the Federal Reserve will keep interest rates on hold for the coming year, with the Treasuries market holding steady ahead of President Donald Trump’s extended deadline for Iran to reopen the Strait of Hormuz. Interest-rate swaps showed traders wiped out what little remained of their wagers on Fed easing after unexpectedly strong US labor market data we...
Bond traders kicked off the week betting that the Federal Reserve will keep interest rates on hold for the coming year, with the Treasuries market holding steady ahead of President Donald Trump’s extended deadline for Iran to reopen the Strait of Hormuz. Interest-rate swaps showed traders wiped out what little remained of their wagers on Fed easing after unexpectedly strong US labor market data were released Friday during a holiday-abbreviated session. That view prevailed as trading resumed Monday, keeping the yield on policy-sensitive two-year Treasuries around 3.86% and the 10-year yield at about 4.34%. The dollar slid. “The uncertainties created by the war in Iran continue to overshadow the fundamentals,” Ian Lyngen , head of US rates strategy at BMO Capital Markets, wrote in a note. “The US rates market remains slightly cheaper, although the strength of the March payrolls report has undoubtedly contributed to a bond-bearish underpinning at the moment.” Monday’s only major economic release, the Institute for Supply Management’s report on services activity for March, had limited market impact as its overall gauge and an employment measure declined more than economists estimated, while indexes for prices and new orders exceeded estimates. Investors in the $31 trillion US government debt market remain on alert for geopolitical developments as optimism mounts for an agreement on terms to end the war with Iran. Trump extended his deadline to Tuesday for Tehran to reopen the Strait of Hormuz, and global benchmark Brent traded near $109 a barrel, after a session high near $112. Disruptions to oil supply from the region have been a major driver for bond investors, who are stuck considering both the growth and inflation risks posed by a surge in energy prices. Yields over the past month have largely tracked oil prices higher on the perception that rising gasoline prices would show up in US inflation gauges and force the Fed to delay rate cuts. Before the US attacked Iran ...
A daughter of Malaysia’s late finance minister Daim Zainuddin will be charged at the Kuala Lumpur Sessions Court on Tuesday. Lawyer Yu Ying Ying confirmed that Asnida Daim, who is in her 60s, will be charged under Section 36(2) of the Malaysian Anti-Corruption Commission (MACC) Act 2009. That section relates to the offence of failing to comply with a written notice from the MACC to declare assets....
A daughter of Malaysia’s late finance minister Daim Zainuddin will be charged at the Kuala Lumpur Sessions Court on Tuesday. Lawyer Yu Ying Ying confirmed that Asnida Daim, who is in her 60s, will be charged under Section 36(2) of the Malaysian Anti-Corruption Commission (MACC) Act 2009. That section relates to the offence of failing to comply with a written notice from the MACC to declare assets. Court records indicate the case will be mentioned before Judge Rosli Ahmad at 9am. In a separate...
The Zacks Computer - Services industry players like CACI, GIB and PDFS are poised to benefit from digital transformation despite macroeconomic headwinds.
The Zacks Computer - Services industry players like CACI, GIB and PDFS are poised to benefit from digital transformation despite macroeconomic headwinds.
Corn price action is showing fractional losses on Monday morning coming out of Easter weekend, though they are ~3 cents off overnight lows. Futures headed into the long weekend, with some front month weakness as money was being taken off the table. Old crop contracts were fractionally to 2 cents...
Corn price action is showing fractional losses on Monday morning coming out of Easter weekend, though they are ~3 cents off overnight lows. Futures headed into the long weekend, with some front month weakness as money was being taken off the table. Old crop contracts were fractionally to 2 cents...
Wheat is trading with early losses across the three exchanges so far on Monday as the market comes out of the long weekend. The wheat complex held on for marginal gains to head into the long weekend. Chicago SRW futures saw fractional to 2 cent gains on the day, with...
Wheat is trading with early losses across the three exchanges so far on Monday as the market comes out of the long weekend. The wheat complex held on for marginal gains to head into the long weekend. Chicago SRW futures saw fractional to 2 cent gains on the day, with...
The largest part of the economy grew a bit slower in March as the Iran war drove up oil and other prices and companies responded by reducing employment, suggesting a rockier path for the economy until the conflict ends.
The largest part of the economy grew a bit slower in March as the Iran war drove up oil and other prices and companies responded by reducing employment, suggesting a rockier path for the economy until the conflict ends.
BING-JHEN HONG/iStock Editorial via Getty Images NVIDIA could be comparable to 'Liberation Day' on a fundamental basis NVIDIA Corporation (NASDAQ: NVDA ), in conjunction with semiconductors as a whole and the software that relies on them, are having a bad years as sectors. As of now, it's nowhere near as bad as last April's 'Liberation Day' tariff tantrum meltdown, but NVIDIA is underperforming th...
BING-JHEN HONG/iStock Editorial via Getty Images NVIDIA could be comparable to 'Liberation Day' on a fundamental basis NVIDIA Corporation (NASDAQ: NVDA ), in conjunction with semiconductors as a whole and the software that relies on them, are having a bad years as sectors. As of now, it's nowhere near as bad as last April's 'Liberation Day' tariff tantrum meltdown, but NVIDIA is underperforming the market. The question here is, despite the growth in share price from April 2025 til now, does the stock look like as good a deal fundamentally as April 2025? Let's explore. Analysts estimating NVIDIA forward earnings Seeking Alpha The most reliable data here will be the next 3 years of earnings; beyond that, there are not enough analysts offering their opinions to make the data worthwhile. As for 2027 through 2029, high double-digit average earnings growth is expected; if true, this would be an extension of the already phenomenal run. With revenue and earnings growth being the two most important fundamental multiple points, this growth can make a stock as cheap as a prior meltdown with only half as steep a drawdown. A Forward P/E Ratio Comparison Data by YCharts Here we can see the forward GAAP P/E ratio for NVIDIA. If you observe the dip for 2025, we are right at those same forward earnings multiple levels. -30+% drawdown vs. -15+% Data by YCharts Looking at the drawdowns over this period, the current drawdown is less than half as much as the year prior, but earnings growth and growth expectations have made the stock as cheap from this perspective as it was last year. 3 Year price vs growth metrics Data by YCharts Taking a look at the trailing 3 year reflexivity patterns, or in other words, comparing the 3-year growth rates in revenue, earnings, and free cash flow to the growth in price, we now find price once again dipping below those growth rates. This is usually a positive marker and entry point if growth rates continue. These are famously used by both Peter Lynch and...
BING-JHEN HONG/iStock Editorial via Getty Images NVIDIA could be comparable to 'Liberation Day' on a fundamental basis NVIDIA Corporation (NASDAQ: NVDA ), in conjunction with semiconductors as a whole and the software that relies on them, are having a bad years as sectors. As of now, it's nowhere near as bad as last April's 'Liberation Day' tariff tantrum meltdown, but NVIDIA is underperforming th...
BING-JHEN HONG/iStock Editorial via Getty Images NVIDIA could be comparable to 'Liberation Day' on a fundamental basis NVIDIA Corporation (NASDAQ: NVDA ), in conjunction with semiconductors as a whole and the software that relies on them, are having a bad years as sectors. As of now, it's nowhere near as bad as last April's 'Liberation Day' tariff tantrum meltdown, but NVIDIA is underperforming the market. The question here is, despite the growth in share price from April 2025 til now, does the stock look like as good a deal fundamentally as April 2025? Let's explore. Analysts estimating NVIDIA forward earnings Seeking Alpha The most reliable data here will be the next 3 years of earnings; beyond that, there are not enough analysts offering their opinions to make the data worthwhile. As for 2027 through 2029, high double-digit average earnings growth is expected; if true, this would be an extension of the already phenomenal run. With revenue and earnings growth being the two most important fundamental multiple points, this growth can make a stock as cheap as a prior meltdown with only half as steep a drawdown. A Forward P/E Ratio Comparison Data by YCharts Here we can see the forward GAAP P/E ratio for NVIDIA. If you observe the dip for 2025, we are right at those same forward earnings multiple levels. -30+% drawdown vs. -15+% Data by YCharts Looking at the drawdowns over this period, the current drawdown is less than half as much as the year prior, but earnings growth and growth expectations have made the stock as cheap from this perspective as it was last year. 3 Year price vs growth metrics Data by YCharts Taking a look at the trailing 3 year reflexivity patterns, or in other words, comparing the 3-year growth rates in revenue, earnings, and free cash flow to the growth in price, we now find price once again dipping below those growth rates. This is usually a positive marker and entry point if growth rates continue. These are famously used by both Peter Lynch and...