MONEY MASTER

PepsiCo Inc has reached an agreement with activist investor  Elliott Investment Management  that includes plans to slash its US product lineup by  20%  and step up its focus on affordability, while also preparing layoffs as part of a broader cost-cutting push. The deal marks an early resolution between PepsiCo and Elliott, which built a roughly  US$4 billion stake  earlier this year and publicly pushed for changes, arguing the company’s sprawling brand portfolio and weakening beverage share were holding back performance. PepsiCo shares were little changed in late trading. The stock is down  4.2%  year-to-date through Monday, compared with a  16% gain  for the S&P 500. Elliott Pushes Simplification and Margin Improvement Marc Steinberg, partner at Elliott, said the agreed-upon plan “will drive greater revenue and profit growth.” Elliott will continue to engage with PepsiCo but did not secure a board seat as part of the agreement. Peps...

 US President Donald Trump warned that Netflix Inc’s planned  US$72 billion acquisition  of Warner Bros Discovery Inc could pose antitrust issues, adding political uncertainty to one of the largest media deals in history. Speaking at an event at the Kennedy Center, Trump said the combined company’s market share “could be a problem” — comments likely to heighten concerns that US regulators may challenge the merger. “Well, that’s got to go through a process, and we’ll see what happens,” Trump said on Sunday, confirming he recently met Netflix co-CEO Ted Sarandos. The remarks come as the deal faces what is expected to be an extensive review by the Justice Department, which will evaluate whether combining the world’s largest streaming platform with a major Hollywood studio violates competition laws. Prediction market Polymarket saw expectations for the deal’s completion fall sharply — from around  60% to 23%  — following Trump’s comments. Warner Bros shares rose 1% ...

Advanced Micro Devices (AMD.US) skyrocketed  24%  on Monday, sparking a surge in  bullish call-option activity worth millions of dollars after unveiling a  multi-year AI chip-supply deal with OpenAI  — one that could generate  tens of billions in revenue  for the chipmaker. AMD shares closed at  US$203.71 , after touching an intraday high of  US$226.71 , marking its biggest one-day gain in over a year. The rally triggered aggressive options buying, including a  US$2.27 million block trade  for calls with a  US$240 strike price  expiring in four days — more than  22 times  existing open interest. Under the deal,  OpenAI  will deploy  6 gigawatts  of AMD’s Instinct GPUs beginning in  2H 2026 , while AMD issued a  warrant for up to 160 million shares  tied to delivery milestones. The first tranche vests upon shipment of the  initial 1GW of MI450 chips . AMD CFO  Jean Hu ...

Key Takeaway:  Alibaba is making a renewed bid to expand AliExpress internationally by targeting  Amazon-listed brands  with cheaper shipping and lower fees, hoping to challenge US rivals despite geopolitical headwinds and stiff competition from Temu and Shein. Alibaba Group Holding Ltd.  is stepping up its overseas e-commerce push by trying to lure well-known Amazon sellers to its global shopping site,  AliExpress . The strategy centers on  lower shipping costs and reduced commission fees , which Alibaba claims could cut selling expenses by as much as half compared with Amazon. AliExpress aims to strengthen its foothold in  Europe, Latin America, and the US , offering brands more traffic support and promotional tools. The company is also looking to leverage existing partnerships from its domestic platform,  Tmall , to encourage global expansion. The move underscores Alibaba’s determination to compete on Amazon’s home turf, even after its first US...

 A sudden surge in Google searches for  “help with mortgage”  has spooked investors, with online chatter drawing comparisons to the 2008 housing crisis. But economists caution: while homeowner stress is rising, a repeat of the GFC is not on the cards — at least not yet.  Key Highlights Search Surge:  Google Trends shows queries for  “help with mortgage”  hitting their highest level since  2009 . Not 2008 Redux:  The viral claim that searches surpassed the 2008 crisis is misleading. The true prior peak was in 2009. Context Matters:  Internet adoption was lower in 2009; today’s spike doesn’t directly translate into mass defaults. Mortgage Stress Signals Delinquencies Rising:  Serious delinquencies (90+ days past due) climbed by  30,000 YoY in July  (Intercontinental Exchange). FHA Loans Under Pressure:  FHA-backed mortgages (popular among first-time & lower-income buyers) accounted for  52% of serious delinquen...

Key Takeaways: Funds from operations-to-debt ratio  forecast at  22%-24% through 2026 , down from 23.5% in 2024. Weaker-than-expected 1H performance dragged by  Singapore and Las Vegas operations . New York casino licence bid  (US$5.5b Queens project) a key  event risk , with outcome expected  by Dec 1, 2025 . Sluggish Operations Pressure Rating Buffer S&P Global Ratings flagged that  Genting Bhd’s weaker-than-expected performance  in the first half of 2025 is narrowing its credit buffer. The ratings agency projects the group’s  funds from operations-to-debt ratio  to stay within  22%-24% through 2026 , compared with  23.5% in 2024 . Operational softness came mainly from Genting’s  Singapore and Las Vegas properties , where both earnings and profitability lagged expectations. Singapore and Las Vegas Headwinds In Singapore, Genting’s operating profit was affected by: Higher costs  linked to ongoing brownfield const...

  Key Takeaways: Nvidia will release  Rubin CPX chips  by late 2026, built on its next-generation Rubin architecture, succeeding Blackwell. The chips target  data-heavy AI applications  including  video generation  and  AI-assisted software coding . Nvidia projects that  US$100 million invested in Rubin CPX systems  could generate  US$5 billion in token-related revenue . Market Reaction Nvidia’s announcement highlights its strategy to expand beyond text and image AI into more complex, compute-intensive use cases. The integration of video decoding, encoding, and inference into a single processor underlines the company’s ambition to remain the standard-bearer in AI infrastructure. The news reinforces Nvidia’s long-term roadmap at a time when Wall Street is increasingly focused on monetisation of massive AI hardware investments. Investment Implications Growth opportunity:  Rubin CPX could unlock new revenue streams in generative v...

  Key Takeaways: Property expansion:  SkyWorld, Citaglobal, Classita/NexG, and Bina Puri drive growth through new projects and land acquisitions. Governance & legal updates:  Econpile and Vantris (ex-Sapura) clarify legal matters; CIMB announces senior leadership change. Strategic initiatives:  DXN leverages luxury assets for distributor incentives; Perak Transit targets recurring revenue with smart bus stops. Partnerships:  Scicom and Telekom Malaysia collaborate on AI-driven customer engagement. Property & Infrastructure Developments SkyWorld Development (SKYWLD):  To acquire a  2.33-acre site in Ho Chi Minh City  for RM136m. Plans a 40-storey tower with  1,200+ apartment units  plus retail and service facilities. Citaglobal (CITAGLB):  Exercised a  RM90m land option in Pahang  to independently develop a 247-acre industrial park via its property arm. Classita Holdings (CLASSITA → NexG Bina):  Selling non-cor...

Key Takeaway:  Malaysia Smelting Corporation Bhd ( KL:MSC ) is expected to stage a strong earnings rebound in 2026 on the back of rising tin prices and improving smelter operations, according to Apex Securities, which has initiated coverage with a “buy” call. Earnings Outlook Apex Securities forecasts that  net profit will moderate in 2025  due to lower feedstock availability and downtime at MSC’s  Pulau Indah smelter . However, once production normalises, earnings are projected to  jump by 50% in 2026 . The research house expects output to stabilise and gradually improve by 2027, supported by higher plant utilisation and better input supply. Analyst Coverage and Valuation Apex Securities initiated coverage with a  “buy” rating  and a  target price of RM1.51 . UOB Kay Hian is the only other research house covering the stock, also with a “buy” call but at a slightly lower  target price of RM1.37 . Shares of  MSC  have already gained...

Key Takeaway Figma delivered solid Q2 results with  41% YoY revenue growth  to  $249.6M , but that wasn’t enough for a stock priced at sky-high expectations. Guidance points to slowing growth, margin pressure is rising, and early lockup releases add near-term supply risk. Core Financials Q2 Revenue : $249.6M (+41% YoY), in line / slightly below consensus Q3 Guidance : $263–265M (+~33% YoY) Full-Year Guidance : $1.021–1.025B (+~37% YoY) Operating Margin : Down, pressured by higher R&D and S&M spend Takeaway : Growth decelerating from 40%+ to low-30s, with no upside surprise Key Highlights Customer Expansion $10K+ customers: 11,906 $100K+ customers: 1,119 80% using 2+ products; ~⅔ using 3+ products → healthy multi-product adoption Net Dollar Retention Slipped to 129% (from 132% in Q1) → upsell momentum moderating New Products Launches: Make, Draw, Sites, Buzz → broadening from design to full “idea-to-launch” workflows Expenses Rising AI + ecosystem investments lifte...

Gamuda Bhd (KL:GAMUDA) has secured a  RM2.138 billion contract  through its engineering unit to construct hyperscale data centres for Eco World Development Group Bhd (KL:ECOWLD). Contract Details Client:  Quantum Alpha Sdn Bhd, a unit of EcoWorld. Scope of Works: Main structures of  two data centre blocks . Power substation  and  water reservoir . Related  infrastructure and facilities . Timeline:  Project begins  3Q2025 , targeted completion by  3Q2027 . Strategic Significance The award underscores Gamuda’s push into  digital infrastructure , a growth area aligned with rising demand for  cloud computing and AI . Comes shortly after Gamuda’s tie-up with  Gentari (Petronas’ clean energy arm)  to develop  1.5GW of solar + storage projects  aimed at powering hyperscale data centres. Follows another major win this month: a  RM1.13 billion highway project  in Sarawak via joint venture with Naim Holdings...

Earnings Release:  Friday, pre-market (Aug 29, 2025) Ticker:  $BABA (NYSE) Current Price:  $120.45 (-1.4% Thursday) 52-Week Range:  $80.06 – $148.43 YTD Performance:  +41.8% Street Expectations Revenue:  US$34.26 billion (vs. US$33.47 billion YoY) EPS:  US$1.95 (vs. US$2.26 YoY) Earnings Track Record: Beat EPS estimates in  7 of the last 10 quarters  (including the last two). Missed revenue in Q4, but historically beat in  7 of last 10 quarters . Analyst Sentiment Several brokers, including  Barclays and Bank of America , have trimmed price targets ahead of the release. Hedge funds such as  Bridgewater, Appaloosa, and Coatue  have reduced exposure to Chinese equities, including Alibaba. Key Themes to Watch 1.  AI and Cloud Momentum Alibaba Cloud remains a critical growth engine. Q4 Cloud Intelligence Group revenue:  +18% YoY, outperforming most other segments. Growth driven by  AI-related product adoption . ...

Guan Chong Bhd (KL:GCB) slumped to its lowest level since March 2024, as disappointing second-quarter results triggered heavy selling among investors. Stock Performance Shares fell as much as 9% or nine sen to 92 sen in morning trade. At 11.15am, the counter was last seen at 93 sen. Trading activity was brisk, with more than 11 million shares changing hands — the highest volume in over five months. Market Reaction The sharp drop followed weaker-than-expected earnings that missed analyst forecasts, raising concerns over near-term profitability. Investors are turning cautious as margins face pressure from volatile cocoa prices and softer demand outlook in downstream chocolate products. Outlook While Guan Chong remains a leading regional cocoa grinder, analysts note that sustained earnings recovery will depend on stabilising raw material costs and stronger demand traction from key export markets. For now, sentiment remains under pressure, reflected in the stock’s sharp correction.

Elon Musk escalated his fight in the AI sector as  xAI  and  X (formerly Twitter)  filed suit against  Apple (AAPL US)  and  OpenAI  in the  U.S. District Court for the Northern District of Texas . The complaint alleges that Apple and OpenAI colluded to stifle AI competition in the App Store, favoring ChatGPT over rival models like xAI’s  Grok .   Investor Takeaway : Apple : Near-term financial impact limited, but regulatory/legal overhang could grow if Musk’s claims gain traction. Tesla : Lawsuit not material to fundamentals, but potential xAI stake keeps optionality alive — seen positively by Wedbush’s Dan Ives. AI Landscape : Lawsuit signals intensifying battles over who controls  AI access points  — hardware (Apple), distribution (App Store), and model development (OpenAI, xAI). Key Allegations Apple allegedly gave  preferential treatment to OpenAI’s ChatGPT  in the App Store. Musk argues this bias "thwarts c...

Sharp Hike Signals Hardline Stance US President Donald Trump signed an executive order raising tariffs on Canadian goods to  35% from 25% , covering all products outside the US-Mexico-Canada Agreement (USMCA). The escalation underscores a hardline US trade posture heading into the Aug 1 deadline. Transshipment Route Closed Off To prevent tariff evasion, the White House added a  40% levy on transshipped goods , targeting supply chains rerouted via third countries. This move tightens cross-border logistics and increases compliance costs for exporters. Negotiations Hit a Wall Canadian Prime Minister Mark Carney reportedly attempted to initiate talks, but no discussions took place before the announcement. While Carney described previous talks as “constructive,” Trump’s remarks suggest a limited window for compromise, citing Canada’s long-standing tariffs on US agriculture. Geopolitical Overhang Ottawa’s recent steps toward recognising Palestinian statehood added a geopolitical lay...

Amazon’s Prime Day 2025  isn’t just a shopping bonanza — it’s shaping up to be a  massive e-commerce and membership machine  with potential upside for investors. What’s New This Year? For the  first time , Prime Day runs  four full days  (July 8–11) across  20 countries . Analysts project  $21B+ in gross merchandise value , up  60%  from last year (BofA Securities). Adobe Analytics forecasts  $23.8B in total online retail spend  across the U.S. during the week —  more than 2x Black Friday 2024 . Not Just a Sales Event — A Strategic Win Amazon is expected to  boost both retail and ad revenue ,  attract millions of new Prime members , and  reinforce customer loyalty : 2024 saw  record-high Prime signups  leading into the event. A  Jefferies survey  shows  73% of U.S. consumers  hold Prime memberships — crushing  Walmart+ (26%)  and  Target Circle (22%) . "Prime Day ...

Tesla (TSLA.US) stock climbed on Thursday, reaching $369.16 in late trading, up 3.14% , as excitement grows over the company's upcoming Cybercab and ambitious robotaxi plans. This follows Wednesday's close at a 52-week high and the stock's continued momentum toward levels not seen since April 2022 . Key Developments Driving the Surge: Cybercab Unveiling and Cost Efficiency Tesla's purpose-built robotaxi, the Cybercab, is expected to begin sales in 2026 . A Tesla engineer revealed the vehicle will use 50% fewer parts than a Model 3 , significantly lowering production costs. Tesla also plans to launch its self-driving robotaxi service in late 2025 , initially leveraging current models equipped with advanced driver-assistance systems. A Trillion-Dollar Opportunity Wedbush analyst Dan Ives called the self-driving business a "trillion-dollar opportunity" , underscoring the potential market impact of Tesla's autonomous technology. Delivery and Growth Outlook...

Shares of GameStop (GME.US) soared as much as 14% on Thursday afternoon following the return of Keith Gill , better known as Roaring Kitty , to the social media platform X. Gill’s cryptic post reignited excitement among meme stock enthusiasts, fueling both the stock price and options activity. GameStop Rally Details Catalyst: Gill posted a fake TIME Magazine cover featuring a desktop computer monitor and keyboard at 1:45 p.m. ET . By 3:45 p.m. , the post had been viewed 3.1 million times . Gill is known for triggering meme stock rallies with his enigmatic posts, boasting 1.6 million followers on X. Stock Reaction: GameStop shares surged as investors piled in, marking another chapter in the ongoing saga of meme stock volatility. Options Market Activity Most Traded Call Contracts: Strike Price: $30. Expiration: Dec. 6. Volume: 60,220 contracts . Open Interest: 18,110 contracts . The spike in call options highlights bullish sentiment, with traders betting on further gains. Broader...

  Corporate Highlights: Earnings, Dividends, and Key Developments Across Sectors Tenaga Nasional Bhd (TNB): Net profit surged  85%  in  3QFY2024  to  RM1.58 billion , driven by  RM1.12 billion forex gains . Quarterly revenue rose  6.6%  to  RM14.35 billion  on higher electricity sales. CIMB Group: 3QFY2024  net profit increased nearly  10%  to  RM2.03 billion , bolstered by growth in  net interest income  (1.8%) and  non-interest income  (28%). Alliance Bank: Net profit edged up  2.5%  to  RM189.91 million  in  2QFY2025 , while revenue hit a record  RM605.65 million , up  14.7%  year-on-year. Declared a  9.50 sen  interim dividend. Hong Leong Financial Group (HLFG): Net profit rose  14%  to  RM847.67 million  in  1QFY2025 , while subsidiary  Hong Leong Bank  reported a  5.8% increase  in net profit t...