hapabapa/iStock Editorial via Getty Images We are back to comment on DiDi Global ( DIDIY ) following a not-so-lucky period in our initiation of coverage and the company's Q4 release. It is not very common for us to focus on Chinese listed equities. For our new readers, the company is a leading technology platform for shared mobility, with international segments. We rated DiDi Global overweight due...
hapabapa/iStock Editorial via Getty Images We are back to comment on DiDi Global ( DIDIY ) following a not-so-lucky period in our initiation of coverage and the company's Q4 release. It is not very common for us to focus on Chinese listed equities. For our new readers, the company is a leading technology platform for shared mobility, with international segments. We rated DiDi Global overweight due to 1) its China mobility segment that was combining growth and margin expansion, 2) the autonomous vehicle upside with also robotaxi models, and 3) an attractive valuation with a $2 billion ongoing buyback program. Since our strong buy recommendation, DiDi shares have lost more than 20% (Fig. 1), creating an opportunity to double down. Mare Ev. Lab Rating Update Fig 1 DiDi Global Results and Our Positive Stance In Q4, DiDi Core Platform Transactions increased by 13.5% (Fig. 2), with the China Mobility segment up by 10.1% and the International segment up by 24.5% compared to Q4 2024. Looking at the P&L, the company made a decisive investment to increase market expenditure and incentives in the International segment. So, China Mobility segment adj. EBITA reached RMB 2.6 billion, while the International segment reported a loss of RMB 3.4 billion. DiDi 2025 Numbers in a Snap Fig 2 Why Are We Positive? Starting with the accounting, here at the Lab, the company reported an IFRS profit of RMB 1.0 billion. However, this number was affected by a one-time RMB 5.3 billion ($740 million) provision. This negative one-off is related to a potential US lawsuit. As we can see from the " In re DiDi Global Inc. Securities Litigation ," investors' key allegations were related to 1) data security violations and 2) imminent regulatory crackdown. The write-off was already booked in Q2 2025. So, this was not a surprise (we reported this downside in our risk section). In numbers, excluding these negative (not-yet) cash items, the company's adjusted profit stood at a much healthier RMB 7.9 billion....
Pentagon Weighs Anti-Drone Laser Weapon Deployment In DC To Fortify Airspace We outlined a glaring security gap in U.S. counter-drone defenses well before the U.S.-Iran conflict erupted one month ago. At the time, we specifically pointed out that data centers are largely unprepared for drone threats. We believe the Gulf conflict - after Iran bombed multiple data centers and military bases - has li...
Pentagon Weighs Anti-Drone Laser Weapon Deployment In DC To Fortify Airspace We outlined a glaring security gap in U.S. counter-drone defenses well before the U.S.-Iran conflict erupted one month ago. At the time, we specifically pointed out that data centers are largely unprepared for drone threats. We believe the Gulf conflict - after Iran bombed multiple data centers and military bases - has likely pushed the federal government into panic mode, accelerating efforts to deploy counter-drone systems around high-value targets across the homeland, whether military bases or civilian infrastructure. This brings us to a New York Times report from Tuesday morning outlining how the Department of War is considering deploying anti-drone laser weapons near Fort McNair in Washington, DC, where Defense Secretary Pete Hegseth and Secretary of State Marco Rubio reside, following recent reports of suspicious activity and ongoing concerns about drone attacks on the homeland. The report cited sources who "requested anonymity" and said the Army is discussing deploying laser weapons that would add an extra layer of security to some of the world's most secure airspace across the Washington-Baltimore region. The Federal Aviation Administration and the DoW are reportedly moving closer to a broader agreement on laser weapons, which offer a low-cost solution for defeating drone threats at scale, especially in an era when cheap kamikaze drones and swarms can quickly exhaust even the most sophisticated air defenses. On Sunday, Heather Chairez, a spokeswoman for an Army-led joint task force in the DC area, said she was "aware of the reported drone sightings near Fort McNair and the surrounding areas." She noted there was no credible threat in the recent incident, yet the task force had increased its counter-drone activities "to keep our service members and civilians who work and live on Fort McNair safe." An FAA spokeswoman, Hannah Walden, said the heads of her agency are prepared to work wit...
primeimages/iStock via Getty Images Back in January, I rated SoFi Technologies ( SOFI ) as a hold, as I was uncertain about the capital allocation strategy after the $3B raised across the July and December equity rounds. The stock is down nearly 40%. In the last earnings call, CFO Chris Lapointe didn't specify how they plan to spend the $3B. That said, his following remarks could be an indication ...
primeimages/iStock via Getty Images Back in January, I rated SoFi Technologies ( SOFI ) as a hold, as I was uncertain about the capital allocation strategy after the $3B raised across the July and December equity rounds. The stock is down nearly 40%. In the last earnings call, CFO Chris Lapointe didn't specify how they plan to spend the $3B. That said, his following remarks could be an indication that a broad acquisition spree is unlikely (which was my main concern heading into the Q4 print): There's a lot of opportunities out there. I would say more than we've ever seen in eight years here. But I'd also say the bar is really high for us . When I say really high, we've looked at dozens and dozens of things, some of which were for sale, some of which were interesting to us . What we're prioritizing are things that can accelerate our growth versus the time it would take to build it ourselves. Since my last coverage, I have been seeing a wave of contrarian investors and analysts who feel quite optimistic about the solid double-digit growth of the company. In fact, the Street itself is projecting two more quarters of 30%+ revenue growth, followed by another two quarters with mid to high 20% growth. Seeking Alpha That said, I prefer to remain a contrarian here and reiterate my hold rating. To be clear, the rationale has very little to do with valuation. In fact, I am not spooked by the 25x forward P/E multiple, even though it's significantly above the median in the financials sector. What puts me off is the current macro backdrop, coupled with the earnings exposure of the company to its personal loan portfolio. My concern is that the current macroeconomic environment is pressuring the lower-end consumer. The war in the Middle East is just half of the story. In fact, as I'm about to show in this article, there are early signs (very early, I have to admit) of leaving behind the highs of a credit cycle in personal loans. My view could be wrong if the Strait of Hormuz reopen...
(RTTNews) - Gan & Lee Pharmaceuticals (603087.SS) on Tuesday said its investigational once-weekly insulin GZR4 Injection met primary endpoints in two Phase 3 trials, demonstrating superior blood sugar control versus daily insulin treatments.
(RTTNews) - Gan & Lee Pharmaceuticals (603087.SS) on Tuesday said its investigational once-weekly insulin GZR4 Injection met primary endpoints in two Phase 3 trials, demonstrating superior blood sugar control versus daily insulin treatments.
In this article BRK.B Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 7:43 07:43 Warren Buffett: The world is more dangerous with Iranian nuclear weapons Squawk Box Warren Buffett warned that the spread of nuclear weapons is making the world a more dangerous place, saying the prospect of Iran acquiring a bomb would heighten the risk of a catastrophic conflict. The Berkshire Hathawa...
In this article BRK.B Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 7:43 07:43 Warren Buffett: The world is more dangerous with Iranian nuclear weapons Squawk Box Warren Buffett warned that the spread of nuclear weapons is making the world a more dangerous place, saying the prospect of Iran acquiring a bomb would heighten the risk of a catastrophic conflict. The Berkshire Hathaway chairman said the growing number of nuclear-armed states has fundamentally altered the global risk landscape, amplifying concerns he has voiced for decades about proliferation. "Now you've got… nine countries," Buffett said on CNBC's " Squawk Box " Tuesday. "We worried enormously about it when there were two… You were not dealing with unstable people or anything like that. The ship's turned around." Buffett pointed specifically to rising geopolitical tensions involving Iran and North Korea, suggesting that the potential presence of nuclear weapons in those regions raises the stakes considerably. "Just think of how you'd feel with North Korea having it and Iran wanting to get it," he said. "The most dangerous thing is, actually, somebody that's got their hand on the switch, who is dying themselves, or is facing enormous embarrassment... I don't know the answer for it, but I do know that… it'll be more difficult if Iran has the bomb than they don't." The 95-year-old investor has long warned that the spread of nuclear capabilities increases the likelihood of a worst-case scenario. Asked what advice he would give a U.S. president confronting the issue of enriched uranium, Buffett struck a fatalistic tone about the long-term trajectory. "I would say that one way or another… in the next 100 years — maybe it's 200 years, who knows — something will happen to cause it to be used," he said. "And we can't take what's out there now." Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
dan_prat/iStock Unreleased via Getty Images Suncor Energy ( SU ) up 1.3% in Tuesday's trading after saying it plans to increase its stock buybacks by more than 20% and aims to boost oil production by 100K bbl/day to nearly 1M bbl/day by 2028, the latest in a series of optimistic goals set by the company . S uncor ( SU ) also said it plans to increase free funds flow by $2B, reduce its breakeven co...
dan_prat/iStock Unreleased via Getty Images Suncor Energy ( SU ) up 1.3% in Tuesday's trading after saying it plans to increase its stock buybacks by more than 20% and aims to boost oil production by 100K bbl/day to nearly 1M bbl/day by 2028, the latest in a series of optimistic goals set by the company . S uncor ( SU ) also said it plans to increase free funds flow by $2B, reduce its breakeven cost by $5/bbl to $38/bbl, and raise the capacity of its refining network by 10% to 511K bbl/day by 2028. Suncor's ( SU ) new three-year targets, released in a new Investor Day presentation , follow record-breaking output in 2025, when the company produced 860K bbl/day, up 4% from 2024, and CEO Rich Kruger told The Globe and Mail it is far from done. "We put out an ambitious three-year plan in 2024, and we achieved each and all of the objectives in it in two years," Kruger said. "When I say 'We're not done yet,' I say that with the utmost confidence." Some might question whether Suncor ( SU ) can continue the rapid period of growth it has enjoyed in recent years, but Kruger said in all his time in oil and gas, he has never led a company with such a toolkit of well-connected oil fields and close integration to upgraders. "When you open the cupboard at Suncor, it's like walking into a Costco warehouse. We have a lot of opportunities," the CEO said. Suncor ( SU ) also said it has identified projects that could add 400K bbl/day in future production at a cost of ~$30K per flowing barrel. More on Suncor Energy Suncor Energy: Value Machine Runs At Full Steam Venezuela Catalysts Can Benefit Suncor Energy More Than Petrobras Suncor Energy Q4 2025 Earnings Call Presentation
(RTTNews) - KKR & Co. Inc. (KKR), a global investment firm, announced on Tuesday that it has agreed to acquire Taiyo Holdings, a global supplier of solder resist and other electronic materials, through a tender offer that values the Japanese company at JPY 4,750 per share.
(RTTNews) - KKR & Co. Inc. (KKR), a global investment firm, announced on Tuesday that it has agreed to acquire Taiyo Holdings, a global supplier of solder resist and other electronic materials, through a tender offer that values the Japanese company at JPY 4,750 per share.