-20% -15% -10% -5% 0% 5% 10% 15% 20% 0 100 200 300 400 500 600 HK$ mn TCM retail sales (LHS) Growth YoY (RHS) Source: Hong Kong Census and Statistics Department; Morgan Stanley Research. Morgan Stanley Asia Limited+ Laurence Tam Equity Analyst Laurence.Tam@morganstanley.com +852 2239-1753 June 10, 2026 04:31 AM GMT Beijing Tongrentang Chinese Medicine | Asia Pacific M Update Annual Shareholder Meeting Takeaways Key Takeaways The company has set five initiatives to drive business growth in the 15th Five-Year ...

We expect a slight 4Q EPS (to be reported 6/30) beat with cc sales and EPS slightly above consensus. F27 guidance will be the focus, especially on 2H27 as mgmt already provided color on CY26 (through 1H27) on its 3Q call. On regions, we expect results to be similar to 3Q trends (NAM solid but EMEA and China weak). On China, we believe trends will remain sluggish for the foreseeable future and possibly even into 2H27. Overall, based on convos w/investors we believe sales pressure is expected in F27 with GM i ...

J P M O R G A N Asia Pacific Equity Research 10 June 2026 Sources for: Style Exposure – J.P. Morgan Global Markets Strategy; all other tables are company data and J.P. Morgan estimates. See page 6 for analyst certification and important disclosures, including non-US analyst disclosures. Pidilite Industries Overweight PIDI.NS, PIDI IN Price (09 Jun 26):Rs1,481.80 Price Target (Sep-27):Rs1,630.00 Consumer, Retail, Media Latika Chopra, CFA AC (91-22) 6157-3584 latika.chopra@jpmorgan.com CEO Interaction: Constr ...

June 10, 2026 04:29 AM GMT Planet Labs PBC | North America Solid 1QFY27 Offset by ATM Overhang; Maintain EW PL reported a strong 1QFY27 and raised its FY27 revenue and gross margin outlook on its earnings call on Thursday June, 4, but muted adj. EBITDA flow through tempers enthusiasm. The $1.5bn ATM offering adds dilution / supply overhang. Maintain EW / PT of $35. | M | | | | | --- | --- | --- | --- | | Downloaded by zouguanzhong@cramc.hk | Not for redistribution without written consent of Morgan Stanley | ...

J P M O R G A N North America Equity Research 10 June 2026 Freeport-McMoRan Investor Meeting Takeaways bennett.moore@jpmchase.com We hosted Freeport's CEO, Kathleen Quirk, and CFO, Maree Robertson, for an J.P. Morgan Securities LLC investor meeting where discussions primarily focused on: 1) Grasberg's ramp since the mudslide last fall; 2) opportunities and gating factors for leaching; and 3) government policy/relations in both the US and Indonesia. Grasberg's ramp remains on track, with improvements "on the ...

June 10, 2026 04:36 AM GMT Entergy Corp | North America Investor Day Takeaways Continued strong load growth, low equity needs, and upsides that could support EPS growth in the teens through 2035. Several highlights from ETR's investor day yesterday: Overall, met the high expectations held by investors, rolling forward a growth outlook to 2030 that was in line with estimates and reinforcing a continuation of the trends into the 2030s. The company laid out top-tier retail sales growth (9% CAGR with 7-12 GW ad ...

Ac t i o n | 10 Jun 2026 00:28:27 ET │ 13 pages Cracker Barrel Old Country Store Inc (CBRL.O) F3Q26 Final Bite: Better F3Q/Guidance Bump CITI'S TAKE Better-than-feared F3Q results with a bump to (what was and may still remain conservative) FY26 guidance (top-line and EBITDA) and commentary around improvement in underlying traffic trends are likely to boost shares in the NT. While the underlying is improving, traffic growth (down 6.7%, two-year down ~12%) remains challenged, and, in the context of a lower-in ...

Exhibit 2: ROE Sensitivity for a 100MW AI Datacenter June 10, 2026 04:43 AM GMT Reliance Industries | Asia Pacific M Update AI Monetization: Leasing Infrastructure to META META and Reliance announced that META will lease 168 MW in the first phase of data centre capacity from Reliance at its 1GW Jamanagar datacenter, with an option to scale up. META will cover the cost of energy and water supporting facilities. META will connect the datacenter to its cable systems (Project Waterworth), which links the US, In ...

J P M O R G A N During the multi-day PegaWorld event, we sat in on a number of customer keynotes and breakout sessions focused on how enterprises are moving from AI pilots to repeatable, governed production outcomes. Across sessions, the consistent message was that scaling AI is increasingly an operating model challenge, requiring workflow discipline, clear guardrails, defined success criteria, and intentional design of where AI is inserted into the processes. Customer and partner discussions focused heavil ...

业绩总结 - Nvidia计划的大规模800V直流电源架构的发货时间推迟至2028年，低于市场预期[1] - 根据Morgan Stanley的供应链检查，800V直流电源的开发仍在进行中，预计将在2026年第三季度准备好大规模生产[2] - Delta预计将在2026年第四季度成为首个大规模生产800V直流电源机架的供应商，初始发货量将不大[3] 用户数据与市场表现 - 分析师对其行业覆盖范围在未来12-18个月的表现预期为吸引人，相较于相关的广泛市场基准[30] - 分析师对其行业覆盖范围在未来12-18个月的表现预期与相关的广泛市场基准持平[31] - 分析师对其行业覆盖范围在未来12-18个月的表现预期持谨慎态度，相较于相关的广泛市场基准[31] 新产品与技术研发 - 报告涵盖的行业为大中华区技术硬件，列出了多家公司的评级和价格，包括AAC Technologies Holdings (2018.HK)的评级为O，价格为HK$46.06[59] - BYD Electronics (0285.HK)的评级为O，价格为HK$26.92，显示出其市场表现良好[59] - HIKVision Digital Technology (002415.SZ)的评级为E，价格为Rmb30.49，表明其面临一定的市场挑战[61] - ZTE Corporation (0763.HK)的评级为O，价格为HK$27.98，显示出其在市场中的竞争力[63] 市场扩张与策略 - 许多公司如Acer Inc. (2353.TW)和Asustek Computer Inc. (2357.TW)的评级均为U，反映出市场对其未来表现的谨慎态度[63] - 报告强调，股票评级可能会随时变更，投资者应查看最新的研究报告以获取最新信息[63] - 历史价格未进行拆分调整，投资者需注意这一点以确保数据的准确性[64]