Ian Patrick, CIO at the Australian Retirement Trust, discusses the investment opportunities ahead as Australia’s pension industry aims to deepen their push into overseas markets. He speaks with Haidi Stroud-Watts and Avril Hong from the sidelines of the Australian Superannuation Investment Summit. (Source: Bloomberg)
Ian Patrick, CIO at the Australian Retirement Trust, discusses the investment opportunities ahead as Australia’s pension industry aims to deepen their push into overseas markets. He speaks with Haidi Stroud-Watts and Avril Hong from the sidelines of the Australian Superannuation Investment Summit. (Source: Bloomberg)
izusek/E+ via Getty Images Thesis Kamada Ltd. ( KMDA ) has just reported a 4Q25 GAAP EPS of $0.06, a figure that misses consensus by about $0.02, while revenue, which hit $44.68 million and represents 14.6% year-over-year growth, also fell short of estimates by about $1.94 million. So shares closed about 4.5% lower on the day of the call. As for outlook, management reaffirmed its 2026 guidance for...
izusek/E+ via Getty Images Thesis Kamada Ltd. ( KMDA ) has just reported a 4Q25 GAAP EPS of $0.06, a figure that misses consensus by about $0.02, while revenue, which hit $44.68 million and represents 14.6% year-over-year growth, also fell short of estimates by about $1.94 million. So shares closed about 4.5% lower on the day of the call. As for outlook, management reaffirmed its 2026 guidance for $200 to $205 million in revenue and $50 to $53 million in adjusted EBITDA. The big news came in the form of a cash dividend announcement of $0.25 per share. This puts the total at about $14.4 million and payable on April 6th next month. It will be for shareholders of record as of March 23rd, just to keep in mind. This is actually a new company's annual cash dividend policy, in which they’re set to distribute at least 50% of annual net income to shareholders. Since my last coverage , the stock has seen about a 7% upside despite the small sell-off post-earnings. So my case for Kamada stock to see potential upside is via their core plasma-derived products. We also want to see more long-term contracts, as with Kedrab, through 2031. The biosimilars/distribution business could also offer a lot of upside if we see international expansion ramp up. I do, however, see some near-term headwinds, such as competition for Cytogam, as I'll explain. Which is why I've chosen to remain hold rated on the stock. Kamada Ltd. FY25 earnings On earnings, we saw Kamada deliver some pretty strong revenue expansion as well as improved profitability. Total revenue managed to reach $180.5 million, which was a 12% year-over-year increase from the $161.0 million we saw back in 2024. We can put the growth mainly down to increased demand for some of the company’s plasma-derived therapies, particularly Varizig and Kedrab, in the U.S. As for international markets, Kamrab and Glassia also did quite well. We also saw the company benefit from expansion in their distribution segment, particularly with the launch...
Getty Images BlackBerry Limited ( BB ) is a mid-sized software and security company with global operations. BB’s segments are Secure Communications for high-security software and QNX for embedded software. The company also produces revenue from a much smaller licensing contributor from its legacy operation as a mobile-device manufacturer. Interestingly, QNX is not only becoming a supplier of real-...
Getty Images BlackBerry Limited ( BB ) is a mid-sized software and security company with global operations. BB’s segments are Secure Communications for high-security software and QNX for embedded software. The company also produces revenue from a much smaller licensing contributor from its legacy operation as a mobile-device manufacturer. Interestingly, QNX is not only becoming a supplier of real-time operating systems (RTOS) and hypervisors, but it’s also growing into a broader software platform for next-generation vehicles and industrial automation. In that sense, I believe BB now represents an interesting opportunity for contrarian investors. From Smartphones To Enterprise Software BlackBerry Limited is currently an enterprise software company and not a smartphone manufacturer anymore. BB now develops software for secure communications for governments, regulated industries, and automotive and industrial customers. BB was founded back in 1984, originally as Research in Motion (RIM), and by 2013 , it had changed its name to the current one. BB is headquartered in Waterloo, Ontario, and its business seems to be recovering while trading at a reasonable valuation, so I thought it was worthwhile writing an article on this name. Source: BlackBerry Investor Briefing at CES 2026. January 2026. You see, after a meaningful decline from its 2025 highs, I now think the stock is a viable contrarian “Buy” at these levels. In my view, BB has most likely pulled back like this due to skepticism about whether QNX’s design and backlog can actually translate into sustained growth (more on this later). Obviously, this means there’s uncertainty about how quickly we can see QNX help re-rate the stock. On the other hand, I don’t think Secure Communications is the main concern right now, as it’s mostly BB’s stable revenue base rather than a major growth engine. Thus, BB’s execution risks and slightly premium multiple combined have likely pressured the stock price since its 2025 highs. Wit...
Market Snapshot USD/INR ₹92.20 +0.2% Nifty 50 Index 23,639.15 -1.0% India 10-Year Bond Yield 6.67% +0.00 Spot Gold ($/oz) $5,114.18 +0.7% S&P 500 Futures 6,700.50 +0.3% Market data as of 08:18 AM IST, Mar. 13, 2026, or the previous close for Indian markets. Data is subject to provider delays. Good morning... I’m Savio Shetty , and covering equities in Mumbai has been quite something this turbulent...
Market Snapshot USD/INR ₹92.20 +0.2% Nifty 50 Index 23,639.15 -1.0% India 10-Year Bond Yield 6.67% +0.00 Spot Gold ($/oz) $5,114.18 +0.7% S&P 500 Futures 6,700.50 +0.3% Market data as of 08:18 AM IST, Mar. 13, 2026, or the previous close for Indian markets. Data is subject to provider delays. Good morning... I’m Savio Shetty , and covering equities in Mumbai has been quite something this turbulent week. Local shares head into Friday looking weary, with bulls watching nervously as the Nifty 50 hovers near a key support level. A weak regional backdrop, with the deepening risk-off mood, is compounding the strain on already fragile Indian equities. Meanwhile, geopolitical tensions are keeping investors uneasy. US President Donald Trump and Iran’s new supreme leader have both struck defiant tones, with Tehran saying the Strait of Hormuz should remain shut. Brent crude’s surge back toward $100 a barrel is sending another energy shock through the system. For India, that’s a double blow. Higher crude squeezes corporate margins and complicates the inflation outlook. It also pressures the rupee, raising the risk of faster foreign fund outflows. Another worry is building. Prices for everyday goods are starting to climb again, raising the risk that inflation could take some of the shine off early signs of a recovery in consumer spending. But there’s a silver lining for one hitherto unsung sector. Coal power might become a hero in these times. More on that below. In today’s newsletter, we look at: A boost for coal usage amid the gas shortage The allure of arbitrage funds as a safe haven A record line-up of bankers for the NSE IPO But first, a closer look at how a key support that has held for years is under attack from bears. Markets Buzz: Nifty Tests Decade-Old Support The Nifty is at risk of breaking below one of its most reliable technical cushions — the 100-week moving average — that has acted as a durable floor for more than a decade, barring the pandemic shock in 2020. The...
(RTTNews) - Asian stock markets are trading mostly lower on Monday, following the broadly negative cues from Wall Street on Friday, as traders remain concerned aver the outlook for the global economy amid the energy crisis in Europe and the report of fresh COVID-19 related lockdowns in China following new virus outbreaks, with the sixth-largest city Chengdu entering full lockdown. Asian markets cl...
(RTTNews) - Asian stock markets are trading mostly lower on Monday, following the broadly negative cues from Wall Street on Friday, as traders remain concerned aver the outlook for the global economy amid the energy crisis in Europe and the report of fresh COVID-19 related lockdowns in China following new virus outbreaks, with the sixth-largest city Chengdu entering full lockdown. Asian markets closed mixed on Friday. The Australian stock market is slightly higher in choppy trading on Monday, recouping some of the losses in the previous three sessions, with the benchmark S&P/ASX 200 staying above the 6,800 level, despite the broadly negative cues from Wall Street on Friday, with strength is mining and energy stocks amid a rebound in commodity prices. Traders also await the Reserve Bank of Australia's interest rate decision on Tuesday, with the RBA widely tipped to raise interest rates by another 50 basis points. The benchmark S&P/ASX 200 Index is gaining 4.40 points or 0.06 percent to 6,833.10, after touching a high of 6,858.00 earlier. The broader All Ordinaries Index is up 0.70 points or 0.01 percent to 7,057.00. Australian stocks closed modestly lower on Friday. Among the major miners, BHP Group and Fortescue Metals are gaining almost 2 percent each, while Mineral Resources is up almost 1 percent, Rio Tinto is adding 1.5 percent and OZ Minerals is edging up 0.2 percent. Oil stocks are mostly higher. Santos is gaining more than 2 percent, Beach energy is surging almost 5 percent, Origin Energy is adding almost 1 percent and Woodside Energy is advancing almost 3 percent. Among tech stocks, Xero is edging down 0.1 percent, Zip is down almost 1 percent, Afterpay owner Block is losing more than 3 percent and WiseTech Global is slipping 3.5 percent, while Appen and WiseTech Global are edging up 0.2 percent each. Gold miners are mostly higher, Gold Road Resources is gaining almost 4 percent, Evolution Mining is adding more than 3 percent, Newcrest Mining is up more than...
e-crow/iStock via Getty Images Daqo New Energy Corp. ( DQ ), a manufacturer of high-purity polysilicon for the solar photovoltaic or PV industry operating out of China, has lost more than a third of its market value in the last 4-5 months. Even the release of the Q4 FY2025 report was not able to stem the slide in the stock price. However, there are several reasons why, in spite of the stock’s decl...
e-crow/iStock via Getty Images Daqo New Energy Corp. ( DQ ), a manufacturer of high-purity polysilicon for the solar photovoltaic or PV industry operating out of China, has lost more than a third of its market value in the last 4-5 months. Even the release of the Q4 FY2025 report was not able to stem the slide in the stock price. However, there are several reasons why, in spite of the stock’s decline, now could be a good time to place bets on a turnaround, both in terms of the stock price and the company itself. Why DQ has solid long-term prospects DQ supplies high-purity polysilicon, which is the raw material the vast majority of solar panels are made of. The use of solar panels, in turn, has increased in recent years as it provides a relatively clean way and an increasingly more affordable way of generating electricity, especially to those that live in remote areas and do not have access to existing power grids for whatever reason. Solar panels themselves are constantly improving, and their ability to convert sunlight into electricity is becoming increasingly efficient. For these and other reasons, it is believed that demand for solar panels will increase over time, which means that there will be a greater need for the raw material to make them, something a manufacturer like DQ can take advantage of. However, solar panels are not perfect, as they do come with drawbacks. For instance, the ability to generate power from solar panels fluctuates throughout the day, depending on how much sunlight there is, which means that a backup power source is needed, like batteries. Another is that the use of solar panels is influenced by the cost of competing sources of energy production. If those become less expensive, then that could affect demand for solar power since consumers may not want to put up with the disadvantages of solar panels when alternatives make more sense. The reverse is also true. This also means the recent events in Iran could have an impact on DQ since they...
Victoria Kotlyarchuk /iStock via Getty Images The messy marketplace Calumet Specialty Products ( CLMT ) endured over the past few years wasn't wasted time. Management took full advantage where others might have simply marched in place, hoping and waiting. The company spent its resources and time in cost cutting, market honing, and/or process understanding, followed by development. We judge manager...
Victoria Kotlyarchuk /iStock via Getty Images The messy marketplace Calumet Specialty Products ( CLMT ) endured over the past few years wasn't wasted time. Management took full advantage where others might have simply marched in place, hoping and waiting. The company spent its resources and time in cost cutting, market honing, and/or process understanding, followed by development. We judge managers by their ability to control what they can. Others may choose a different definition, such as total success; again, we don't. Now, perhaps there are some hidden surprises to investigate. Thinking about hidden surprises, paper bags are interesting toting containers and make for an interesting analogy. One can't see, unless you're Superman, what's inside until you open the top or rip it apart and peek. Paper bags are easy to open. Investors often miss major opportunities in investing simply because they can't or won't take the time to view the easy. For Calumet, it is really quite simple: just open the top and pull out the investments. Shall we go grab that bag and carefully open it, or is ripping more fun? This continues our coverage of Calumet, the last being Calumet: Specialty Products' Businesses Coming Together Financially . In the article, we wrote about marketplace changes that support future positive cash flows, including changes in RVO, high specialty margins, and a startup of higher SAF capacity at MRL. We continue monitoring and updating progress with these changes. The results aren't small but rather transformative. 2025 Results We begin with last year. The December quarter results included the 2025 summary. The results are listed in the next table along with 24 for comparison. EBITDA (Millions) 25 24 Specialty $292 $223 Performance Brands $48 $57 MRL (Renewables) -$1 $25 Asphalt $33 -$3 *Bonus MRL PTC $8 Corporate -$78 Totals $301 $229 Click to enlarge * After the year ended, Calumet was informed that by law it generated an additional $8 million in PTC for 2025....
Afya (AFYA) came out with quarterly earnings of $0.41 per share, beating the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +7.90%. A quarter ago, it was expected that this medical education company would post earnings of $0.32 per shar...
Afya (AFYA) came out with quarterly earnings of $0.41 per share, beating the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +7.90%. A quarter ago, it was expected that this medical education company would post earnings of $0.32 per share when it actually produced earnings of $0.38, delivering a surprise of +18.75%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Afya, which belongs to the Zacks Schools industry, posted revenues of $169.03 million for the quarter ended December 2025, missing the Zacks Consensus Estimate by 4.57%. This compares to year-ago revenues of $145.28 million. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Afya shares have lost about 9.9% since the beginning of the year versus the S&P 500's decline of 1%. What's Next for Afya? While Afya has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the ...
The Philippines is bracing for more pain ahead in its labor market due to the Middle East conflict, after joblessness surged to the highest in nearly four years. The unemployment rate rose to 5.8% in January, the highest since June 2022 and equivalent to nearly three million Filipinos without jobs. Agriculture and retail shed the most jobs due to seasonal factors, according to the Philippine Stati...
The Philippines is bracing for more pain ahead in its labor market due to the Middle East conflict, after joblessness surged to the highest in nearly four years. The unemployment rate rose to 5.8% in January, the highest since June 2022 and equivalent to nearly three million Filipinos without jobs. Agriculture and retail shed the most jobs due to seasonal factors, according to the Philippine Statistics Authority. The Iran war could have a “more significant effect” on the Philippine labor market compared to the war in Ukraine, as some of the millions of Filipino workers in the Middle East may opt for repatriation, Deputy National Statistician Divina Gracia Del Prado said at a briefing on Friday. Millions of Migrant Workers in Gulf at Risk as War Rages On Returning Filipino workers can be trained for higher-value jobs, Economic Planning Secretary Arsenio Balisacan said in a statement after the jobs data release. Around 10 million Filipinos live and work abroad, of which 2.4 million are in the Middle East. “The government continues to pursue a comprehensive response to support affected workers in the short term while fostering a dynamic and robust labor market in the medium and long term,” Balisacan said.