General Motors leaps 7% after 3rd-quarter earnings double analyst expectations https://www.businessinsider.com/general-motors-q3-earnings-stock-profit-revenue-truck-suv-demand-2020-11 Strong truck and SUV sales in North America and China helped pull GM further out of its virus-induced slump, interim CFO John Stapleton said in the earnings report. Overall US auto sales have surged post-pandemic, rising well above 2019 levels after a pandemic rout.
China industrial production rose 6.9% in October vs. a year earlier, steady with September better than expected. Retail sales climbed 4.3%, up from September.
The Moderna coronavirus vaccine data comes from the biotech's interim analysis of its final-stage trial. It comes one week after Pfizer and BioNTech announced that their Covid vaccine is over 90% effective. Crucially, the Moderna coronavirus vaccine can be stored at normal refrigeration temperatures for weeks, while the Pfizer/BioNTech vaccine must be kept at ultra-low temperatures, complicating storage and distribution.
"We upgrade the stock from Reduce to Hold with a higher RM10.80 target price (TP), based on a higher 1.3x P/BV, in line with KESM’s 5-year historical mean in view of a recovery in automotive semiconductor demand going into CY21F,” he said.
KESM managed to recover to the black with 1QFY21 CNP of RM1.2m, though accounting for only 7%/11% of our/consensus’ estimates. We deem this in line with our expectation as we anticipate bulk of the earnings recovery to be reflected in subsequent quarters, particularly in 2HFY21. China and Europe’s car sales continue to climb with China gaining at a quicker pace. Macro-wise, industry leader NXP has also turned slightly positive and expects the recent recovery to build a firm base for a better year going into 2021. Maintain MARKET PERFORM with a higher Target Price of RM10.60.
Uptick to happen towards end of 2020. The group is currently discussing with existing automotive customers on new product introduction and device modification. This includes burn-in and testing services for components that will be used for advanced driver-assistance systems (ADAS), Tyre Pressure Monitoring System (TPMS) and Light Detection and Ranging (LiDAR) systems. However, meaningful contribution from these new products will only be noticeable towards the end of CY20.
Diterbitkan Hari ini 8:22 am Dikemaskini Hari ini 8:25 am 6 Pengundian untuk meluluskan Belanjawan 2021 pada peringkat dasar yang dijadual selepas penggulungan oleh Kementerian Kewangan menjadi tumpuan utama persidangan Dewan Rakyat hari ini.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Kadir
2,107 posts
Posted by Kadir > 2020-09-02 16:55 | Report Abuse
Watch out fr sunright shares...may soon up