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Bottom-up stock picking key for outsized returns in current market: Sunny Agrawal

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Bottom-up stock picking key for outsized returns in current market: Sunny Agrawal
As geopolitical tensions in West Asia continue to keep broader markets on edge, investors may need to look beyond benchmark indices to uncover meaningful wealth creation opportunities. According to market expert Sunny Agrawal from SBI Cap Securities, the recent earnings season has highlighted a growing divergence between the performance of large-cap companies and the broader mid- and small-cap universe.

Speaking to ET Now, Agrawal said the latest earnings cycle clearly demonstrated stronger growth momentum among mid- and small-cap companies compared to the Nifty 50 constituents.

“When it comes to the earnings season which has just recently concluded, one thing is pretty clear—that the earnings momentum is pretty robust in the mid- and small-cap pack as compared to the frontline companies. We have seen around 15% to 20% earnings growth for the mid-cap as well as small-cap pack, compared to single-digit earnings growth for Nifty 50 companies. That is the reason we believe that the wealth creation opportunity ultimately lies in pockets which are not part of benchmark indices.”

Bottom-Up Stock Picking Remains Key

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Agrawal believes investors should focus on identifying niche growth stories rather than relying solely on index-linked investing. Several sectors, particularly those linked to India’s power infrastructure buildout, continue to offer attractive opportunities.

“Whether it is wires and cables as a segment, which is a power ancillary, or whether it is the transformer or power equipment sector, which is predominantly not a part of Nifty 50 companies, ultimately it is a bottom-up stock picker’s market. We need to identify growth stories which may not be part of the Nifty 50.”
While he expects the benchmark index to remain range-bound until geopolitical uncertainties ease, he sees substantial opportunities across segments such as auto ancillaries, cables and wires, power ancillaries, B2B jewellery companies, and structural steel tube manufacturers.
Agrawal acknowledged that rising raw material and crude oil prices could exert short-term pressure on margins during the first quarter. However, he remains optimistic about the broader earnings outlook for FY27, particularly if geopolitical tensions begin to subside from the second quarter onward.
EV Bus Opportunity Is Significant, But Patience Is Essential
The government’s recently announced electric bus initiative has generated excitement across the industry, with companies such as JBM Auto and Olectra Greentech expected to benefit. However, Agrawal cautioned investors against expecting immediate and consistent earnings growth from the sector.

“The opportunity size definitely is pretty huge. In fact, there is an opportunity for each and every player to grab a share. But ultimately, announcing a flagship scheme and rolling it out is a different ballgame.”

He noted that electric bus and truck sales remain heavily dependent on government spending and state transport undertakings, often resulting in uneven quarterly sales trends.

“Long term, we definitely continue to remain bullish on EV buses as a theme, but one needs to deploy patient capital if somebody wants to create wealth out of this story.”

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According to him, manufacturing capacity is not a constraint, as major players, including incumbent commercial vehicle manufacturers, have already built significant capabilities to address future demand.

Coal India Rally May Have Run Ahead of Earnings Growth
On the recent surge in Coal India shares, Agrawal adopted a more measured stance.

While acknowledging an improvement in fourth-quarter earnings, he does not foresee a dramatic acceleration in profitability during FY27.

“Although there has been some improvement in terms of earnings growth for quarter four, not many fireworks are expected for FY27 in terms of earnings. Post the OFS, we have seen a very sharp up move, maybe on the back of very cheap valuations and the high dividend yield that Coal India commands.”

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Instead, he believes investors looking to benefit from India’s long-term energy growth story may find better opportunities elsewhere within the broader power and energy ecosystem.

Titan Continues to Benefit from Organised Market Shift
Agrawal remains positive on jewellery and lifestyle major Titan, citing its leadership position and continued gains from the shift of consumers from the unorganised sector to organised retail channels.

“The addressable market size is pretty large across all categories, whether it is eyewear, watches or the accessories segment. The shift from unorganised to organised is something which is playing out across all jewellery players, and Titan, being a market leader, is definitely benefiting from that.”

He believes the company can comfortably deliver a 15% to 17% earnings CAGR over the next four to five years.

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However, he also highlighted valuation concerns.

“We continue to remain bullish. The only point I would like to derive is that valuations continue to remain slightly expensive. We believe the fair value of the business is closer to ₹4,500-4,600.”

Consumer Durables Entering a Recovery Phase
Turning to the consumer durables segment, Agrawal suggested that the worst may now be behind the sector as inventory levels normalise and demand remains healthy.

He expressed a preference for business-to-business manufacturers over consumer-facing brands, arguing that the former offer more attractive opportunities.

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“Things are getting better as the system inventory gets drawn down. We have seen some margin pressure during quarter four, but it looks like the worst is behind for the entire sector.”

Among his preferred names are contract manufacturing and electronics players such as Amber Enterprises and PG Electroplast.

“Both have disappointed in terms of margins during quarter four, but what we believe is that FY27 should be a normalised year in terms of margins going forward. Demand continues to remain robust, the way the heatwave is playing out and the way El Niño conditions are being forecast. It seems that FY27 should be a far better year in terms of earnings. So, we would like to ride through PG and Amber.”

Key Takeaways
Agrawal’s investment approach remains firmly rooted in stock selection rather than index investing. While benchmark indices may continue to consolidate amid global uncertainties, he sees compelling opportunities emerging across mid- and small-cap companies tied to power infrastructure, industrial manufacturing, consumer durables and organised retail themes. For investors willing to look beyond the index and maintain a long-term horizon, these pockets could continue to offer stronger earnings growth and wealth creation potential in the years ahead.

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Form 144 ENTERGY CORP /DE/ For: 25 June

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Form 144 ENTERGY CORP /DE/ For: 25 June

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Bio-Techne Shares Surge 19 Percent as Life Sciences Tools Provider Gains Momentum

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Bio-Techne Shares Surge 19 Percent as Life Sciences Tools Provider

Bio-Techne Corporation shares jumped more than 19 percent on Thursday, reaching $70.31 as investors responded to positive developments around the company’s life sciences tools and diagnostics businesses.

The significant gain reflected renewed confidence in Bio-Techne’s position within the biotechnology research and clinical diagnostics markets. The company provides essential reagents, instruments and assays used by researchers and clinicians worldwide.

Bio-Techne has reported steady performance despite challenges in the broader life sciences sector, including funding pressures for academic research and cautious spending by pharmaceutical companies. Its diversified portfolio spanning protein sciences, diagnostics and genomics has provided stability.

The company’s focus on innovation, quality and customer relationships has sustained demand for its products. Recent product launches and strategic initiatives have generated interest among analysts and investors.

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Business Overview and Performance

Bio-Techne operates through Protein Sciences and Diagnostics and Genomics segments. The Protein Sciences division offers antibodies, proteins, immunoassays and other research tools.

The Diagnostics and Genomics segment provides clinical laboratory products, spatial biology solutions and genomic testing services. This diversification helps mitigate risks associated with any single market or customer type.

The company has maintained consistent revenue growth through organic expansion and strategic acquisitions. Its global distribution network and reputation for quality support market leadership in multiple product categories.

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Bio-Techne’s financial results have demonstrated resilience amid industry headwinds. Management has emphasized operational efficiency and portfolio optimization while investing in growth areas.

Market Environment

The life sciences tools and diagnostics industry faces cyclical pressures from research funding, pharmaceutical R&D spending and healthcare budgets. Bio-Techne’s essential products provide some insulation from these fluctuations.

Academic and government research funding remains crucial for many customers. Private sector investment in biotechnology and pharmaceutical development drives additional demand.

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The COVID-19 pandemic accelerated certain segments while creating supply chain challenges. Post-pandemic normalization has required adaptation to changing demand patterns.

Technological advances in genomics, proteomics and spatial biology create opportunities for innovative product providers. Bio-Techne’s investments in these areas position it for growth.

Strategic Initiatives

Bio-Techne continues expanding its product portfolio through internal development and acquisitions. Recent moves have strengthened capabilities in high-growth areas like spatial transcriptomics and advanced immunoassays.

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The company’s focus on automation and workflow solutions addresses customer needs for increased efficiency and reproducibility. These offerings appeal to both research and clinical laboratories.

Sustainability initiatives and responsible sourcing practices align with growing stakeholder expectations. Bio-Techne’s commitment to quality and ethical practices supports long-term customer relationships.

Digital transformation efforts enhance customer experience and operational efficiency. Online platforms and data analytics capabilities improve accessibility and support for users.

Investment Considerations

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Bio-Techne’s recent share price surge reflects positive market sentiment around its fundamentals and growth prospects. The company’s valuation has adjusted to account for its market position and pipeline.

The stock appeals to investors seeking exposure to life sciences innovation and research tools. Its diversified business model and consistent performance provide defensive characteristics.

Risks include funding pressures in academic research, competition from larger players and potential slowdowns in pharmaceutical R&D spending. Bio-Techne’s ability to innovate and maintain quality will influence long-term success.

Analysts generally maintain constructive outlooks, citing the company’s technology leadership and market opportunities. However, patience may be required as the sector navigates cyclical challenges.

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Industry Trends

The life sciences tools market continues evolving with advances in single-cell analysis, spatial biology and multi-omics approaches. Companies providing enabling technologies benefit from these scientific developments.

Clinical diagnostics demand grows with aging populations and personalized medicine trends. Bio-Techne’s products support both research and clinical applications.

Automation and artificial intelligence integration transform laboratory workflows. Providers offering compatible solutions gain competitive advantages.

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Sustainability considerations influence purchasing decisions across the industry. Companies demonstrating environmental responsibility may attract preference from research institutions and corporate customers.

Future Outlook

Bio-Techne’s strategic direction focuses on leveraging its technology platform while expanding into adjacent markets. Successful execution could drive sustained growth and margin improvement.

The company continues investing in research and development to maintain innovation leadership. Its ability to translate scientific advances into commercial products will influence future performance.

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Investors will monitor upcoming financial results for progress on key metrics including organic growth and margin trends. Management guidance will provide insight into execution priorities.

The recent share price movement suggests renewed market interest in Bio-Techne’s story. The company’s fundamental strengths and market opportunities support potential for continued positive sentiment.

As life sciences research advances, Bio-Techne’s essential tools and technologies will likely remain in demand. Its ability to adapt to evolving customer needs while delivering consistent results positions it favorably in the industry.

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Potential JPMorgan CEO successors named as top executive retires

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Potential JPMorgan CEO successors named as top executive retires

The race to succeed America’s top banker is on.

Sources inside JPMorgan Chase, the nation’s top bank, say the elevation of two senior executives Doug Petno and Troy Rohrbaugh as co-presidents of the company, sets up a long-awaited horse race to succeed the voluble Jamie Dimon, its CEO for the past two-plus decades and widely regarded as the nation’s top banker.

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As if to leave no doubt about his intentions, Dimon Thursday also announced that Marianne Lake, one of the highest-ranking women on Wall Street who had been seen as a frontrunner to succeed Dimon, “has decided to retire” from the bank.

Lake, a longtime executive who was head of the firm’s powerful consumer and community banking division, is said to be “not too happy” about being passed over for the top job. One indication was the absence of a statement from Lake in the press release, said people close to the bank. A JPM spokesperson had no immediate comment.

JAMIE DIMON REVEALS WHAT HE TOLD MAMDANI AFTER PRIVATE MEETING, SAYS IDEOLOGY CAN LEAD MAYORS TO FAIL

Exterior view of 270 Park Avenue in New York City.

JPMorgan Chase’s new global headquarters at 270 Park Ave. in New York City. (JPMorgan Chase / Fox News)

Jenn Piepszak, JPM’s chief operating officer, is also no longer considered a possible replacement for Dimon, people inside the bank say. Also out of the running is Mary Erdoes, the head of JPM’s asset management and wealth management business, On The Money has learned.

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“The changes announced today mark an important step in our board’s thoughtful process around succession planning and development of our top leaders,” Dimon said in a press release. “We are fortunate to have in place an exceptional group of senior leaders, not only at our operating committee level but across our organization.”

DOJ PROBES JPMORGAN, CITIGROUP TRANSACTIONS TIED TO IRAN SUPREME LEADER’S BUSINESS NETWORK

Jamie Dimon speaks on stage

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during the 2026 Reagan National Economic Forum on Friday, May 29, 2026.  (Caroline Brehman/Bloomberg via Getty Images / Getty Images)

Petno and Rohrbaugh had jointly run the firm’s powerful consumer and investment bank, and were considered top contenders to replace Dimon when he is expected to begin transitioning out of his role as CEO as early as this year, though he has always been obtuse about the timing of his decision and has left open the possibility to remain as chairman indefinitely.

Stocks In This Article:

That said, inside JPM headquarters in Midtown Manhattan, there was nothing obtuse about the elevation of Petno and Rohrbaugh. Dimon created the co-president position precisely to set up a horse race between the two to take over as CEO sometime soon, these people say.

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Marquee at the main entrance to the JPMorgan Chase Headquarters Building in Manhattan.

Marquee at the main entrance to the JPMorgan Chase Headquarters Building in Manhattan. (Erik McGregor/LightRocket via Getty Images / Getty Images)

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Both will have big shoes to fill. Since taking over as CEO of JPM in 2006, Dimon has emerged as the most important banker in the country and maybe its most important CEO. JPM is a sprawling “systemically important” institution that does everything from consumer lending to mergers and acquisitions to trading complex derivatives that are the plumbing of the global financial system.

He has successfully led the big bank through financial crises, small and large, such as the 2008 implosion and jostled with presidents from Barack Obama to Donald Trump over economic and banking policy. He is known for his shoot-from-the-hip public presence, and for his management acumen. JPM has been highly profitable and largely free of scandal during his reign. 

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Japan and Sweden Battle for Group F Survival in Decisive World Cup Clash in Arlington

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Frankfurt's Japan midfielder Daichi Kamada (L) scored the opening goal against Bayern Munich on Saturday

ARLINGTON, Texas — Japan and Sweden meet at Dallas Stadium fighting for a place in the World Cup knockout rounds, with both nations facing dramatically different paths into Thursday’s decisive Group F showdown.

Where the Group Stands

Japan and the Netherlands are currently tied in Group F with four points each, with the Dutch holding the tiebreaker on goals. But Sweden is right on their heels with three points. The winner of Thursday’s Japan vs. Sweden match will likely advance, while the loser is going home.

What’s at Stake for Each Team

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A historic victory for Graham Potter’s side would catapult the Swedes to six points, instantly securing automatic qualification for the round of 32. Depending on the concurrent outcome of the Netherlands vs. Tunisia fixture, a win could potentially vault Sweden into a top-two finish, completely eliminating any reliance on wild-card scenarios. Conversely, this outcome would freeze Japan on four points, forcing the Samurai Blue to sweat on the parallel result or hope to advance as one of the best third-placed wild cards. Should Hajime Moriyasu’s men secure all three points, it would complete an undefeated group stage campaign for the Asian heavyweights and leave Sweden in a highly precarious position.

Japan’s Path to This Moment

Japan made history against Tunisia in Monterrey, winning 4-0 to become the first country representing the Asian Football Confederation to score four goals in a single World Cup game. Daichi Kamada needed only four minutes to convert essentially Japan’s first attack when he turned in Keito Nakamura’s endline cross at close range.

That result followed a dramatic comeback in their opener. In a thrilling Group F opener in Arlington on June 14, Japan denied the Netherlands a win with a last-minute equalizer — Koki Ogawa’s corner deflected off Daichi Kamada and past Bart Verbruggen in the 89th minute to secure a 2-2 draw. Netherlands captain Virgil van Dijk broke the deadlock in the 51st minute; Keito Nakamura pulled Japan level six minutes later, and Crysencio Summerville restored the Dutch advantage, but Japan refused to slow down.

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Sweden’s Rollercoaster Group Stage

Sweden’s campaign has swung dramatically between two extremes. Sweden became the first team to win their first game by four goals and then lose their second by four goals since Sweden in 1938. Fresh off a 5-1 win of their own over Tunisia, Sweden were on the receiving end of the same scoreline at the hands of the Netherlands. Brian Brobbey scored a first-half brace inside the first 20 minutes, dispatching two close-range efforts in the fifth and seventeenth minute — the fourth-fastest brace in World Cup history. The fixture was Sweden’s worst defeat at the World Cup since being thrashed 7-1 by Brazil in 1950.

Team News for Japan

Takefusa Kubo remains a major doubt for this crucial encounter due to a lingering knee injury. The Real Sociedad attacker sustained the issue during their draw against the Netherlands. Shuto Machino has also struggled with illness and is yet to feature on the pitch. In his absence, Hajime Moriyasu will likely retain the rest of his high-flying starting eleven tonight.

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Team News for Sweden

Graham Potter faces tough personnel decisions following their defensive collapse against the clinical Dutch side. Anthony Elanga could earn a starting role at right wing-back after scoring a fine consolation goal. Youngster Lucas Bergvall pushes hard to replace Celtic midfielder Benjamin Nygren to provide extra defensive steel. Star attackers Viktor Gyökeres and Alexander Isak will continue their blooming partnership up front.

A Key Tactical Battle in Midfield

The absolute heartbeat and dynamic engine of the Japanese midfield on Matchday 2, Daichi Kamada is tasked with dictating the possession rhythm and unlocking opposition lines for the Samurai Blue. Kamada operated masterfully in the heart of the midfield against Tunisia, breaking forward to provide a vital creative spark and getting himself on the scoresheet. Looking to disrupt that fluid creative rhythm is Sweden’s standout midfielder Jesper Karlström, who anchored the engine room on Matchday 2, attempting to provide tactical protection during a difficult outing against the Netherlands.

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Predicted Lineups

Japan’s predicted starting eleven: Z. Suzuki; Tomiyasu, Itakura, H. Itō; Dōan, Sano, Tanaka, Nakamura; Itō, Kamada; Ueda.

Sweden’s predicted starting eleven: Nordfeldt; Lagerbielke, Hien, Lindelöf; Elanga, Bergvall, Karlström, Ayari, Gudmundsson; Gyökeres, Isak.

A Notable Tournament Milestone

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Beyond the immediate group stakes, Thursday’s fixture also carries a piece of World Cup history. The teams have previously met six times, including Japan’s 2-0 group stage victory at the 2002 FIFA World Cup, which they co-hosted with South Korea. Their latest meeting took place in the 2023 Kirin Challenge Cup, which Japan also won by 2-0. This fixture was the 1,000th World Cup match, with the previous milestone of 900 having been reached at the 2018 FIFA World Cup final.

Match Details and How to Watch

The match kicks off at 6 p.m. local time at Dallas Stadium in Arlington, Texas, with referee Iván Barton of El Salvador in charge. In the United Kingdom, the match will be broadcast live on BBC Two, BBC iPlayer, and the BBC Sport website, with kickoff at midnight BST heading into Friday.

What’s Ahead for the Group Winner

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The winner of Group F will advance to play the runner-up of Group C, Morocco, while the runner-up of Group F will advance to play the winner of Group C, Brazil. With Tunisia having already lost their match and been eliminated, becoming the third team eliminated from the tournament following Haiti and Türkiye, Thursday’s result will determine the final shape of one of the tournament’s most competitive groups.

With Japan needing only a draw to guarantee their place in the knockout stage and Sweden requiring a win to keep their own qualification hopes fully in their own hands, Thursday’s match at Dallas Stadium carries genuinely high stakes for both nations. A Japan victory or draw would complete one of the more memorable group-stage campaigns of the tournament for the Samurai Blue, while a Sweden win would erase the memory of their lopsided defeat to the Netherlands and set up a potential top-two finish in the group, depending on how the simultaneous Netherlands-Tunisia fixture unfolds.

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Horizon Kinetics buys $374 in Texas Pacific land stock

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Forget Everything You Knew About Micron Before (NASDAQ:MU)

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Micron: Buy The Latest Blowout

This article was written by

I write about stocks I’m personally interested in adding to my portfolio. I’m not a professional advisor, but I study business and economics and analyze markets full-time. My writing is meant for both complete beginners — I avoid unnecessary complexity — and advanced readers, as I always aim to offer a distinct and well-reasoned perspective.I also run a YouTube Channel called “The Market Monkeys” and break some of the stocks there as well.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of MU either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Barnes & Noble Education, Inc. (BNED) Analyst/Investor Day – Slideshow

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Barnes & Noble Education, Inc. (BNED) Analyst/Investor Day – Slideshow

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Teradata's Value Appeal Over Snowflake Since AI Is Not Cheap

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Teradata's Value Appeal Over Snowflake Since AI Is Not Cheap

Teradata's Value Appeal Over Snowflake Since AI Is Not Cheap

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Materion Corp stock hits all-time high at 282.78 USD

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Materion Corp stock hits all-time high at 282.78 USD

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Tencent Music: Recent Strategic Moves Are Reshaping The Investment Case (NYSE:TME)

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Tencent Music: Recent Strategic Moves Are Reshaping The Investment Case (NYSE:TME)

This article was written by

Long only, focused on high quality businesses with economic moats and solid business fundamentals. Sector and geography agnostic. Long term investment horizon. None of the articles constitute investment advice.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in TME over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Not investment advice.

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Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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