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.
The BBH team is very much looking forward to the upcoming 16th Annual PASLA/RMA Conference on Asian Securities Lending which will be held in Sydney, Australia next week.
In the Americas, Frontier is the owner and operator of an extensive copper and fiber optic network but they are up against a massive debt burden. In Asia, shares in the Doosan Group of companies plunged last week after reporting worse than expected earnings. In Europe, the UK contractor, Interserve (IRV LN), has seen two of its largest shareholders refuse to back a deal the board had set out to swap creditor balances for equity in the firm.
In the Americas, investors are wary not to overlook the fact that there is still plenty of regulatory red tape that TELL must cut through before 2023 operations are expected to start. In Asia, Japanese telecommunication giant Softbank Group Corp unveiled plans for the biggest share buyback in the company’s history. In Europe, Spanish food store provider Distribuidora Internacional (DIA SM) rallied 70% this week following news that the board is to work with Mikhail Fridman and his investment firm, LetterOne.
In the Americas, the online pet pharmacy, PetMed, saw sales remain flat against last year at $60.1 million. In Asia, two of the world’s largest shipbuilders are set to combine forces in an attempt to thwart competition from Chinese rivals. In Europe, Wirecard shares fell up to 31% as reports of forgery mire the payment processing provider.