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Polaris and BRP fall after Citi downgrades on tariff uncertainty
** Shares of powersports vehicle-makers Polaris PII.N fall 2.15% to $41.65, while BRP DOO.TO, DOOO.O down 2.6% at $37.72** Citi downgrades both stocks to "sell" from "neutral"** Cuts PT on Polaris to $33 from $49, and to $29 from $48 for BRP** PII and DOO are dealing with weak and in...Reuters
Thu, Mar 20
PDD Holdings' US-listed shares rise on upbeat Q4 profit
** U.S.-listed shares of Temu parent PDD Holdings PDD.O rise 2.1% to $128.72 in morning trading ** PDD reports Q4 adjusted profit of 20.15 yuan ($2.78) per American Depository Share, beating analysts' average estimate of 19.81 yuan, according to data compiled by LSEG ** Co reports Q4 revenue...Reuters
Thu, Mar 20
LIVE MARKETS-Wall Street indexes slip initially, bit then pull up to small gains
US equity indexes turn higher after opening lowerComm Svcs is top S&P sector gainer; Materials off mostEuro STOXX 600 index dips ~0.4%Dollar jumps; crude, bitcoin both up ~1%; gold dipsUS 10-Year Treasury yield falls to ~4.21%Welcome to the home for real-time coverage of markets brought to you b...Reuters
Thu, Mar 20
Optinose surges on Paratek Pharma's buyout deal for up to $330 million
** Shares of drug developer Optinose OPTN.O rise 56.5% to an over four-month high of $9.60** OPTN is set for biggest percentage gain on record** OPTN says privately held Paratek Pharmaceuticals will acquire co and its nasal spray, Xhance, for up to $330 million ** Xhance is used for treating a type ...Reuters
Thu, Mar 20
Citi lifts Coty to Buy on ‘large value-unlock opportunity’ from Wella stake sale
Investing.com -- Citi hiked its rating on Coty (NYSE:COTY) shares to Buy from Neutral, highlighting a “large value-unlock opportunity” from the anticipated sale of its stake in German beauty company WInvesting.com
Thu, Mar 20
CANADA STOCKS-TSX flat after strong gains in prior session
By Nikhil Sharma March 20 (Reuters) - Canada's main stock index was flat on Thursday as investors took a breather a day after the index logged its biggest advance in over seven months as the U.S. Federal Reserve projected further rate cuts for the year.The Toronto Stock Exchange's S&P...Reuters
Thu, Mar 20
South African rand weakens as interest rate held steady as expected
JOHANNESBURG, March 20 (Reuters) - South Africa's rand remained on the back foot on Thursday after the country's central bank left its main interest rate unchanged as expected.At 1352 GMT, the rand traded at 18.22 against the dollar ZAR=D3, about 0.5% weaker than its previous close.The dolla...Reuters
Thu, Mar 20
Newborn Town Inc. (SEHK: 9911) Reported Revenue of RMB 5.09 Billion in 2024, marking a Substantial Increase of 53.9% YoY
Newborn Town Inc. (SEHK: 9911) Reported Revenue of RMB 5.09 Billion in 2024, marking a Substantial Increase of 53.9% YoYOn March 20th, Newborn Town unveiled its annual results for the year ended December 31st, 2024. Benefiting from the AI empowerment of social and entertainment products, the company experienced remarkable growth in both revenue and profit. According to the announcement, Newborn Town reported a total revenue of RMB 5,092 million in 2024, marking a 53.9% year-over-year increase. Net profit for the year reached RMB 788 million, while adjusted EBITDA totaled at RMB 963 million, demonstrating a 42.8% year-over-year increase.The company’s social networking business reached revenue of RMB 4,632 million, marking a 58.1% growth year-over-year. TopTop and SUGO, the social products with second-mover advantages, witnessed substantial expansion particularly in the MENA region. Additionally, the innovative business, which included quality games and social e-commerce segment, also performed impressively, contributing RMB 460 million in revenue, a growth of 21.3% YoY.Sustained Growth Achieved in Social Networking Business as MENA’s Revenue Growth Rate Exceeds 60%Newborn Town’s strategy of developing a 'bush-like' portfolio of social apps has accelerated its growth in 2024, fueled by the company’s product innovation, localized operation and growth, as well as the AI-powered commercialization efficiency gains. Among them, new products TopTop and SUGO have shown explosive growth, while established products like MICO and YoHo continue to deliver steady profits and cash flow.In 2024, SUGO’s total revenue surged by over 200% year-over-year, with average monthly recharge amount exceeding US$10 million. TopTop also delivered impressive results, with its UGC-driven community further thriving and total revenue increasing by more than 100%. These successes have diversified the company’s revenue streams, making its core business more resilient and robust.The MENA market remains a crucial growth driver and has continued to unlock significant business potential in 2024. According to the announcement, Newborn Town’s core social apps revenue in this region increased by over 60% compared to the previous year, far outpacing the growth rate of 2023.After over a decade of penetration in the MENA region, Newborn Town continues to break new ground and create incremental value. This not only underscores the vast commercial opportunities in the MENA market but also highlights the company’s growing dominance as a leading social entertainment player, further establishing its strengths through strong localization strategies.The MENA region has become a fertile ground for Newborn Town to cultivate blockbuster products. With multiple products leading their respective niches, Newborn Town is inching closer to its strategic goal of "deepening its presence in MENA".In the second half of 2024, the company was granted the Regional Headquarters License by Saudi Arabia's Ministry of Investment (MISA), becoming the first global social entertainment company to establish a regional headquarters in Saudi Arabia. The Capabilities to Replicate Blockbuster Products Further Improved by AI EmpowermentFor the first time in its results announcement, Newborn Town revealed details about its self-developed multimodal algorithm model, which has significantly boosted commercialization efficiency and fueled new products’ explosive growth. The Boomiix model has been instrumental in enhancing the capabilities of Newborn Town’s proprietary AI engine, improving efficiency in user behavior analysis, preference identification, and value measurement. The upgraded algorithm has optimized social matching and content recommendation, leading to better user experiences and higher commercialization efficiency.SUGO’s success has exemplified AI-driven efficiency gains. By leveraging Boomiix, the social platform has seen improved matching efficiency and smarter operational decision-making progress. By the end of 2024, SUGO experienced a more than 20% increase in ARPU (Average Revenue Per User) compared to the beginning of the year, marking a significant optimization in its monetization strategies.With AI integration deepening across R&D, operations, marketing, and advertising, Newborn Town has successfully accelerated its ability to replicate blockbuster products. SUGO, the social app launched just over three years ago, has already surpassed US$10 million in monthly recharge amount, reinforcing AI’s role in the company’s expansion strategy.In recent years, by continuously addressing diverse user needs and driving product innovation, the company has built a thriving 'bush-like' portfolio of social apps, including MICO, YoHo, TopTop, SUGO and HeeSay. With the "product matrix + AI engine" model proving effective, Newborn Town is well-positioned to further leverage technology-driven growth and unlock greater commercial value.Quality Games Began Driving Revenue Whilst Social E-commerce Unleashed PotentialIn 2024, the company made significant strides in its innovative business segments, particularly in quality games and social e-commerce.The quality games sector saw steady growth. The company's self-developed quality games, published through external teams, have generated approximately RMB 705 million in recharge amount, marking about an 80.4% increase compared to 2023. The flagship title, Alice's Dream: Merge Games has performed exceptionally well. Notably, the quality games began contributing to the company’s revenue in the fourth quarter of 2024, marking its entry into a profitable phase.Meanwhile, the social e-commerce business experienced rapid growth, driven by the in-depth exploration of user needs, an expanded product portfolio, and a broader user base. Its revenue increased by over 200% year-over-year, with profits surging by more than 600%, solidifying the company’s leadership in this vertical market.Newborn Town has demonstrated its firm confidence in future growth through concrete actions. In 2024, the company repurchased shares worth over HKD 150 million and has planned to continue repurchasing in the following years. Looking ahead, Newborn Town is committed to implementing its strategy for cultivating the application 'bush' worldwide, strengthening AI integration and leveraging its diverse product lineup to capture new niches within the global social entertainment market, tapping into the broader commercial space in the "emotional value" consumption field.About Newborn TownNewborn Town has grown into a leading technology company which was listed on the Main Board of the Hong Kong Stock Exchange (HKEX) in 2019 under the stock code 9911.Committed to creating positive emotional values worldwide, Newborn Town has developed a diverse portfolio of applications in the social networking and entertainment sectors. Its social apps include MICO, YoHo, TopTop, SUGO and HeeSay, together with gaming products like Alice's Dream: Merge Games. These applications have achieved widespread acclaim, reaching over one billion users in over one hundred countries and regions.Newborn Town considers the Middle East and North Africa (MENA) region a key market and has also extended its influence in Southeast Asia, Europe, the United States, Japan, and South Korea. The company aims to become the world's largest social entertainment company.For enquiries, please contactDLK Advisory pr@dlkadvisory.com20/03/2025 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.comEQS
Thu, Mar 20
BUZZ -PREVIEW: Micron Technology rises ahead of Q2 results
** Shares of memory chipmaker Micron Technology MU.O rise 1.5% to $103.60 ahead of Q2 results due after markets close** Wall Street expects Q2 revenue of $7.89 bln vs $5.82 bln a year earlier, according to data compiled by LSEG** Analysts estimate adj. EPS of $1.42, compared with 42 cents a year ear...Reuters
Thu, Mar 20
Mogo Inc reports results for the quarter ended December 31 - Earnings Summary
Mogo Inc MOGO.TO reported a quarterly adjusted loss of 2 cents per share for the quarter ended December 31, higher than the same quarter last year, when the company reported EPS of -10 cents. The lone analyst forecast for the quarter was for a loss of 14 cents per share. Revenue rose 2.7% to C$18...Reuters
Thu, Mar 20
It's True: These 13 States Don't Tax Retirement Income
As we get older, some of us may start wondering about which states will tax our retirement income and which states won't. Some of us may be thinking about relocating for retirement, so the tax environment is a factor to consider. Others of us may be planning to stay put, but are curious about how mu...The Motley Fool
Thu, Mar 20
Baltic index falls on lower capesize, panamax rates
March 20 (Reuters) - The Baltic Exchange's dry bulk sea freight index, which monitors rates for vessels moving dry bulk commodities, edged lower on Thursday, hurt by falling rates across the capesize and panamax segments.* The main index .BADI, which factors in rates for capesize, panamax and su...Reuters
Thu, Mar 20
F&G Annuities & Life slides after unveiling stock offering
** Shares of F&G Annuities & Life Inc FG.N down 11% at $38.04, over 7-mth low, early Thurs after co disclosed planned equity offering** Des Moines, Iowa-based insurer late Weds said it would sell 8 mln shares, per the SEC prospectus filing** Co to use net offering proceeds for general purpos...Reuters
Thu, Mar 20
Designer Brands' Q4 Exceeds EPS Forecast
Designer Brands (NYSE:DBI), known for its footwear chains like DSW, released mixed fourth-quarter 2024 financial results on Thursday, March 20. Its adjusted earnings per share (EPS) loss of $0.44 exceeded expectations of a $0.49 per share loss. Revenue came in at $713.6 million, which was below the ...The Motley Fool
Thu, Mar 20
Beacon Roofing agrees to $11 billion QXO buyout, ending takeover battle
By Aishwarya Jain March 20 (Reuters) - Beacon Roofing Supply BECN.O has agreed to an $11 billion buyout offer from billionaire Brad Jacobs' firm QXO QXO.N, weeks after it rejected a marginally lower bid from the company and raised its defenses to prevent a hostile takeover.The deal caps a mon...Reuters
Thu, Mar 20
UBS, Stifel start coverage of BioVersys with 'buy;' shares climb
** Swiss biotech firm BioVersys BIOV.S shares up 4.3% to 36.2 Swiss francs at 1402 GMT** UBS starts coverage with "buy" rating and PT of 48 francs; Stifel also starts with "buy" and PT of 70 francs** UBS says the market does not fully reflect the "high probability of success"...Reuters
Thu, Mar 20
