Equities Analysis

TBO Tek Acquisition Powers Strong Quarter Growth

TBO Tek Limited's travel technology platform continues bridging global tourism markets. While the stock stumbled on profit-taking, the company's strategic acquisition and surging hotel bookings paint...

Takeover rumors swirl around Caesars Entertainment, which keeps its jackpot out of shareholders' reach

A brutal reminder of the laws of gravity is a fundamental rule of financial markets, and a decidedly recurring theme in our columns this week.

Steadfast Group Marches Ahead on Solid Momentum

Steadfast Group Limited's stock has stumbled, despite solid operational gains, creating an intriguing disconnect between market sentiment and business reality. The company continues expanding its...

Duolingo suddenly brought back to earth

A perfect storm for Duolingo, which has wiped out 4/5 of its market capitalisation in nine months.

WH Group Beefs Up the Bottomline

WH Group-the big name behind breakfast meats-is proving that one can thrive in an uncertain environment. By trimming the fat in America and getting creative with snacks in Asia, they managed to...

Perpetual Strengthens Position as Global Manager

Perpetual is undergoing a significant strategic evolution, strengthening its global footprint while streamlining its operations. Through disciplined simplification, focused investment capabilities,...

Air Products & Chemicals, Inc. : Industrial Gas Leader Betting on Hydrogen

Founded in 1940 by Leonard P. Pool, who pioneered the idea of producing industrial gases directly at customer sites rather than transporting them long distances, Air Products and Chemicals is today a...

Cheniere Energy and Venture Global, US LNG heavyweights, reap an unexpected windfall

Iran's retaliation could achieve what a decade of US gas diplomacy struggled to move forward.

HP Completely Ignored by Investors Despite a Solid Operational Track Record

Separated from HP Enterprise and listed as a standalone company for exactly ten years, the maker of computers, IT equipment and consumables may be the cheapest listed company in the entire US market.

AMD Gets Out the Heavy Artillery

The announcement of a strategic partnership between AMD and Meta can be read in two ways. ...

DHL Group: Navigating the mercurial backdrop well, 2026 EBIT target falls short of expectations

DHL navigated a mixed quarter with solid execution in Express offsetting softer trends elsewhere. free cash flow underwhelmed versus expectations but remained above the group’s 2025 target, and...

SFS Group: Resilience across margins despite challenging end markets

Chapeau: Solid profitability and cash generation offset FX headwinds and muted demand, with cautious FY26 guidance underpinned by efficiency gains and pricing discipline. Earnings/Sales releases SFS...

Atos: Second gear engaged

After a tough year, Atos delivered in-line results and, crucially, set out credible Guidance, including a 2026 7% operating margin target, signaling a potential turn toward sustainable recovery and a...

IMI: End of 2025 sets up continued traction in 2026, £500m buyback announced

Solid 2025 execution at IMI underpinned a constructive 2026 outlook, with robust cash generation supporting a £500m buyback alongside a higher dividend and resilient margins. Earnings/Sales...

Entain: BetMGM profitability and continued online momentum support the story

Entain delivers a solid set of FY25 results, underpinned by resilient Online trends and BetMGM turning profitable, strengthening the group’s cash flow outlook. Despite United Kingdom regulatory...

Men and women still take markedly different approaches to investing

The barometer published by the AMF for International Women's Day, for instance, highlights sharp divergences when it comes to cryptoassets.

Deutsche Lufthansa: Turnaround program and effective hedging to help relieve Middle East uncertainties

Chapeau: Lufthansa delivered slightly better-than-expected 2025 results, with turnaround execution and superior hedging helping buffer Middle East uncertainty; modest estimate upgrades appear...

Service Revenue Drives Finning's Resilient Growth Engine

Finning International is a leading global equipment and services provider, supported by a diversified regional footprint and a steadily expanding product-support ecosystem. Its disciplined execution,...

IMI keeps the cash flowing

British engineering firms rarely excite investors. IMI, a Birmingham based maker of valves and motion control systems, is trying to prove that steady industrial businesses can still deliver attractive...

Elekta: Profitability improvements and beat, despite exogenous headwinds, are noteworthy

Elekta delivered a resilient Q3, outperforming on profitability despite foreign exchange headwinds and tariffs. Strength in order intake across China, the United States and Europe, renewed growth in...

Reckitt Benckiser Group: Core Reckitt and EM remain strong though near-term margin headwinds disappoint markets

Reckitt delivered broadly in-line results, with Core Reckitt strength and solid Emerging Markets momentum offset by softer trends in Europe. Guidance on revenue holds, but near-term margin pressure...

TUI Group: Initial insights into the Middle East unrest

TUI Cruises faces temporary operational challenges in the Middle East as two vessels await emergency logistics. We estimate a €44m impact on JV income, though the broader outlook remains resilient...

Pbb Deutsche Pfandbriefbank: Harder, longer transition

pbb Deutsche Pfandbriefbank delivered Q4 figures marked by accelerated De-Risking and a still-muted market backdrop. Management maintains its cost of risk normalisation view but acknowledges that...

L'Oréal, or the price of excellence

The world's number one beauty company closes out 2025 by accelerating quarter after quarter. Record margins, cash flow up 8%, a strategic push into luxury. And yet, at roughly 29 times 2026 earnings,...

LEG Immobilien: Strategy on track to de-risk and maintain profitability

Chapeau: LEG Immobilien delivers on its strategy with solid FY2025 figures, an 8% dividend hike, and a return to positive revaluations. With confirmed 2026 guidance, a clear path to 45% LTV, and...

Merck: Q4 miss and slightly weak 2026 guidance

Q4 fell short of expectations as Life Science and healthcare grew while Electronics lagged; 2026 Guidance trails consensus mainly on FX, but long-term prospects across businesses and the balance sheet...

Continental: Resilient FY25 results amid group transformation into a pure tire player

Continental delivers FY25 results broadly in line with preliminaries, showcasing resilient tyres performance, solid free cash flow, and a higher-than-expected dividend, while advancing portfolio...