Let the Money Talk

OCBC’s 4Q2022 results were lower than expectations with net profit of S$1.31bn vs our estimate of S$2.03bn. This was mainly due to net interest income growth of 34% YoY (S$2.39bn), NIM growth of 79bps YoY to 2.31% and loans growth of 2% YoY (S$295bnn) offset by non-interest income dipping 42% YoY (S$615mn). 4Q22 dividend is up 43% YoY to 40 cents, total FY22 dividend at 68 cents (+28% YoY). — The...

Baidu announced a US$5 billion share buyback after reporting better-than-expected revenue, reflecting how its cloud computing service is offsetting an advertising lull during China’s economic downturn. Its shares gained 6 per cent in pre-market US trading. —  The Daily Morning Note is a round-up of local and global business headlines that you need to know to get ahead of your day.  This...

Tencent Holdings is in talks with Meta Platforms to distribute its Meta Quest line of virtual reality, or VR headsets in China, three people familiar with the matter said. The talks between Tencent and Meta started last year and have continued in recent months, according to one of the sources who have direct knowledge of the matter, adding that the talks remain early stage and details have yet to...

Galois Capital, a crypto investment firm known for betting against the Luna token before its implosion last year, is closing its flagship fund after it was hit by the collapse of cryptocurrency exchange FTX. — The Daily Morning Note is a round-up of local and global business headlines that you need to know to get ahead of your day. This programme is brought to you by PYTCH Media, a creative studio...

Facebook and its stablemate Instagram launched on Sunday a paid subscription service, as the advertising-based business model that has long dominated the internet falters. Mark Zuckerberg, the CEO of Facebook-parent Meta, announced on Sunday the launch of Meta Verified, a service starting at US$11.99 a month to authenticate one’s account. — The Daily Morning Note is a round-up of local and global...

Phillip Securities' Research Analyst, Glenn Thum, will be covering DBS 2Q23 results in line with the estimate. Maintain BUY recommendations. Listen to this podcast to learn more about the latest corporate updates. Alternatively, visit www.stocksbnb.com for the full report. #PhillipCapital #YourPartnerinFinance #Servingyousince1975  #fintech #PYTCH #PYTCHMedia #DailyMorningNote #DailyNews #Fin...

Phillip Securities' Research Analyst, Glenn Thum, will be covering DBS 4Q2022 results above expectation. Maintain BUY recommendations. Listen to this podcast to learn more about the latest corporate updates. Alternatively, visit www.stocksbnb.com for the full report. #PhillipCapital #YourPartnerinFinance #Servingyousince1975  #fintech #PYTCH #PYTCHMedia #DailyMorningNote #DailyNews #FinanceNe...

Paramount Global said it saw its streaming business grow during the fourth quarter and announced plans to increase prices for Paramount+ this year. Despite adding more streaming customers, Paramount reported its fourth-quarter revenue declined 7%, compared with last year, to roughly $5.9 billion as the weak advertising market weighed on the company. — The Daily Morning Note is a round-up of local...

In this episode, Phillip Securities' Research Analyst, Ambrish Shah, will be covering PayPal Holdings Inc's 4Q22 Results - Accelerated cost reductions. Phillip Securities Research's analysts recommend Maintaining BUY as the results were in line with expectations. Listen to this podcast to learn more about the latest corporate updates. Alternatively, visit www.stocksbnb.com for the full report. #Ph...

In this episode, Phillip Securities' Research Analyst, Glenn Thum, will be covering SGX's 1H23 results within expectations with Maintain BUY recommendations. Listen to this podcast to learn more about the latest corporate updates. Alternatively, visit www.stocksbnb.com for the full report. #PhillipCapital #YourPartnerinFinance #Servingyousince1975  #fintech #PYTCH #PYTCHMedia #DailyMorningNot...

Barclays on Wednesday reported a full-year net profit of £5.023 billion ($6.07 billion) for 2022, beating consensus expectations of £4.95 billion but suffering a 19% fall from the previous year’s restated £6.2 billion in part due to a costly trading blunder in the U.S. — The Daily Morning Note is a round-up of local and global business headlines that you need to know to get ahead of your day. This...

Coca-Cola on Tuesday reported quarterly revenue that beat analysts’ expectations, driven by higher prices on its drinks. But those higher prices have hurt demand for Coke products like Simply Orange Juice and Fairlife Milk. — The Daily Morning Note is a round-up of local and global business headlines that you need to know to get ahead of your day. This programme is brought to you by PYTCH Media, a...

Shares of Palantir popped more than 19% in extended trading Monday after the company released fourth-quarter earnings that beat analysts’ estimates on top and bottom lines. Palantir’s revenue for the quarter increased 18% year over year, and its U.S. commercial revenue grew 12%. — The Daily Morning Note is a round-up of local and global business headlines that you need to know to get ahead of your...

DBS’ 4Q2022 results beat expectations with net profit of S$2.34bn vs our estimate of S$2.02bn. Bulk of the beat was from stronger than expected net interest income of S$3.28bn (+53% YoY) and net interest margin growth to 2.05% (+62bps YoY). — The Daily Morning Note is a round-up of local and global business headlines that you need to know to get ahead of your day. This programme is brought to you...

In this episode, Phillip Securities' Research Analyst, Maximilian Koeswoyo, will be covering Apple Inc. – Longer term remains attractive. Revenue was in line with our expectations at 101% of our FY22 forecast, while earnings were a slight miss with normalized PATMI coming in at 96%, which excludes a pre-tax valuation loss of 12.7bn US dollars from Amazon’s investment in Rivian. Listen to this podc...

Pepsico on Thursday beat analysts’ estimates for fourth-quarter revenue and profit, benefiting from price hikes for its sodas and snacks to tackle rising costs. On an adjusted basis, the company earned US$1.67 per share in the fourth quarter, beating estimates of US$1.65. — The Daily Morning Note is a round-up of local and global business headlines that you need to know to get ahead of your day. T...

In this episode, Phillip Securities' Research Analyst, Maximilian Koeswoyo, will be covering Apple Inc. – Hurt by supply constraints and FX. Apple’s first quarter 2023 revenue and PATMI were a modest miss from our expectations, coming in at 28% and 29% of our FY23 forecasts. Overall revenue declined by 5.5% to 117bn US dollars while PATMI came in at 30bn dollars. Listen to this podcast to learn mo...

In this episode, Phillip Securities' Research Senior Analyst, Jonathan Woo, will be covering Alphabet Inc 4Q22 earnings results, positives, negatives, and outlook. Maintain BUY rating on Alphabet Inc. with a lowered target price of US$131.00 Listen to this podcast to learn more about the latest corporate updates. Alternatively, visit www.stocksbnb.com for the full report. #PhillipCapital #YourPart...

In this episode, Phillip Securities' Research Senior Analyst, Jonathan Woo, will be covering Meta Platforms Inc 4Q22 earnings results, positives, negatives, and outlook. Downgrade to NEUTRAL rating on Meta Platforms Inc. with a raised target price of US$182.00 Listen to this podcast to learn more about the latest corporate updates. Alternatively, visit www.stocksbnb.com for the full report. #Phill...

Uber Technologies Inc on Wednesday set its sights on delivering profits this year after rounding off 2022 with blow-out earnings as a surge in demand for airport and office rides helped the company rebound from pandemic lows. Uber forecast adjusted EBITDA between $660 million and $700 million for the first quarter, well above the average analyst estimate of $593.06 million, according to Refinitiv...

In this episode, Phillip Securities' Research Analyst, Glenn Thum, will be covering Singapore Banking Monthly for January with interest rates growth plateau. Listen to this podcast to learn more about the latest corporate updates. Alternatively, visit www.stocksbnb.com for the full report. #PhillipCapital #YourPartnerinFinance #Servingyousince1975  #fintech #PYTCH #PYTCHMedia #DailyMorningNot...

Alphabet’s Google has invested almost US$400 million in artificial intelligence (AI) startup Anthropic, which is testing a rival to OpenAI’s ChatGPT. — The Daily Morning Note is a round-up of local and global business headlines that you need to know to get ahead of your day. This programme is brought to you by PYTCH Media, a creative studio powered by PhillipCapital — investing made simple and edu...

Amazon said revenue in its cloud unit increased by 20% in the fourth quarter, a slower pace than analysts had projected and more sluggish than the 27.5% growth rate in the third quarter. — The Daily Morning Note is a round-up of local and global business headlines that you need to know to get ahead of your day. This programme is brought to you by PYTCH Media, a creative studio powered by PhillipCa...

Meta Platforms reported better-than-expected sales during the holiday quarter, fuelled by strong demand for advertising as it attracted more users to its Facebook social network. Revenue for the fourth quarter was US$32.2 billion. That compared with Wall Street estimates of US$31.6 billion. Shares jumped more than 18% in extended trading. — The Daily Morning Note is a round-up of local and global...

McDonald’s shares slipped after the company’s fourth-quarter operating margin and its projection for 2023 both fell short of analyst estimates. The measure of profitability came in at 43.6% for the most recent quarter, below the average estimate of 45.5% compiled by Bloomberg. — The Daily Morning Note is a round-up of local and global business headlines that you need to know to get ahead of your d...