In the Americas, hydrogen fuel cell manufacturer, Ballard Power Systems, announces agreement with Norled A/S. In Asia-Pacific, the passing of the Chairman of Korea’s largest airline has threatened to disrupt his family’s control over the group company. In Europe, convertible bond activity has been a focus for securities lending demand this week.
In the Americas, we saw an increase in directional demand for Eastman Kodak Company (KODK). In Asia Pacific, Chinese auto makers rallied strongly last week on news that a leading firm may receive subsidies on green cars. In Europe, Superdry shares dropped as much as 25% this week as its founder won a controversial vote to return to the company.
In the Americas, Lyft stock will be organized in a dual class structure with Class A & Class B shares. In Asia Pacific, ZTE Corp forecasted better than expected earnings for the first quarter of 2019. In Europe, short positions grow for struggling UK construction contractor Kier Group (KIE LN).
In the Americas, A short squeeze has fee levels spiking for allocations of Sorrento Therapeutics, Inc. (SRNE). In Asia Pacific, Kingdee International Software sank in Hong Kong trading after a critical report was released calling the company a bubble stock. Several European stocks announced details of capital raising.
In the Americas, we have seen increased demand for Turtle Beach Corp. (HEAR), a video-game headset maker, ahead of their fourth-quarter 2018 financial results. In Asia Pacific, China’s largest electric-vehicle maker is continuing to feel the effects of the central government’s decision earlier in the year to reduce subsidies to the industry. In Europe, Elliot Management Corp and Vivendi set to go to war again over Telecom Italia Spa (TIT IM) board.
In the Americas, Eli Lilly and Company (LLY) completes a spin-off of its remaining interest in Elanco Animal Health (ELAN). In Asia Pacific, a new announcement caused shares in Kawasaki Kisen Ltd to slide as much as 10%. In Europe, UK retail is a focus for borrowers again this week as Debenhams returns to the headlines.
In the Americas, demand for Mattel, Inc.(MAT) remains stable as the toy maker looks to recover from a difficult 2018. In Asia Pacific, Standard Chartered Plc also announced that it will restructure operations into hubs focused in Hong Kong, Singapore and London. In Europe, Aston Martin is back in the spotlight after falling the most since its controversial initial public offering last year.
Last year, was a turbulent year for global markets and from a securities lending perspective, it offered numerous opportunities to generate returns in what became a banner year for many lending programs. This year, we expect many of the core themes of last year will continue leading to another broadly positive year for securities lending returns.
In the US last week, investors reacted positively after Yeti (YETI) reported encouraging fourth-quarter earnings where sales beat street forecasts. In Asia Pacific, Investors dumped shares in Bingo Industries after it downgraded its full year profit forecast by 20 percent last week. In Europe, Wirecard (WDI GY) is back in the news this week after a German regulator introduces a short sell ban on the Bavarian payment processor.