Author: Cornelio Ash

Cornelio Ash is a senior equity analyst and member of the U.S. Focus List and the Global Focus List Committees, which approves all equity recommendations for developed, emerging, and frontier markets. He is also a lead for the Technology sector and specializes in the Americas region. Cornelio joined the firm in 2005 and received his B.A. in Finance from California State University, Northridge. He holds a Series 65 securities license.

Global Laggards

Posted on by Cornelio Ash

Highlighted Charts

 

U.S.: Kratos Def & Sec Sol (KTOS), Xylem Inc (XYL), Willscot (WSC), Manpower (MAN), Fox (FOX), Marriott International (MAR), Cabot Oil & Gas (COG), Capital One Financial (COF), Jazz Pharmaceuticals (JAZZ), Motorola (MSI).

 

Developed: MMC Norilsk Nickel (MNOD.GB; MNOD LI), Sohgo Securities (SOSE.JP; 2331 JP), Brilliance China Automotive (CBA.HK; 1114 HK), Bandai Namco (N@MB.JP; 7832JP), Bank Hapoalim BM (POLI.IL; POLI IT), Sonova (SOON.CH; SOON SW), T-Gaia (TPRK.JP; 3738 JP), Zensho (ZENS.JP; 7550 JP).

 

Emerging:  Feng Tay (FEN.TW; 9910 TT), Formosa Petrochemical (FPC.TW; 6505 TT).

Global Laggards

Posted on by Cornelio Ash

Highlighted Charts

 

U.S.: Grace W R & Co (GRA), Hubbell Inc (HUBB), Xylem Inc (XYL), CSG Systems (CSGS), Fox Corporation (FOX), Columbia Sports (COLM), U D R (UDR), Public Storage (PSA), ICU Medical (ICUI), Urban Outfitters (URBN), Vishay Intertechnology (VSH).

 

Developed: Oji Holdings (OJIH.JP; 3861 JP),  Sohgo Securities (SOSE.JP; 2331 JP), Aisin Seiki (ZQ@N.JP; 7259 JP), CTS Eventim (EVDX.DE; EVD GR), Swiss Prime Site (SPSN.CH; SPSN SW), Sonova Holding (SOON.CH; SOON SW), Toho Holdings (TOHP.JP; 8129 JP), Konami Holdings (KONA.JP; 9766 JP).

 

Emerging: Fomento Economico Mexicano (FMU.MX; FEMSAUBD MF), Pick N Pay stores (PIKJ.ZA; PIK SJ).

Global Laggards

Posted on by Cornelio Ash

Highlighted Charts

 

U.S.: M D U Resources Group (MDU), Curtiss-Wright (CW), Weibo (WB), Vail Resorts (MTN), Glacier Bancorp (GBCI), HCA Healthcare (HCA), Core Mark Holdings (CORE), Motorola Solutions (MSI), Commvault Systems (CVLT), Ambarella (AMBA).

 

Developed: MMC Norilsk Nickel PJSC (MNOD.GB; MNOD LI), Ck Hutchison Holdings (CHGK.HK;1 HK), Sega Sammy Holdings (SESA.JP; 6460 JP), Mowi (MHG.NO; MOWI NO), Sawai Pharmaceutical (SAWI.JP; 4555 JP), Toho Holdings (TOHP.JP; 8129 JP), Konami Holdings (KONA.JP; 9766 JP).

 

Emerging: Tenaga Nasional (TENN.MY; TNB MK), Pick N Pay Stores (PIKJ.ZA; PIK SJ).

Global Laggards

Posted on by Cornelio Ash

Highlighted Charts

 

U.S.: A G C O Corp (AGCO), Fox Corporation (FOX), Post Holdings (POST), UGI Corp (UGI), AFLAC (AFC), Integra Lifesciences (IART), Plexus Corp (PLXS), Perspecta (PRSP).

 

Developed: Securitas B (SUBF.SE; SECUB SS), Saab B (SAAB.SE; SAABB SS), SGS SA (SGSN.CH; SGSN SW), Japan Tobacco (ABOT.JP; 2914 JP), Sumitomo Realty Development (CK@N.JP; 8830 JP), Straumann (STMN.CH; STMN SW), T-Gaia (TPRK.JP; 3738 JP), NTT Docomo (TTMO.JP; 9437 JP).

 

Emerging: KT&G (KTB.KR; 033780 KS), Tenaga Nasional (TENN.MY; TNB MK), Samsung Securities (SSR.KR; 016360 KS).

Global Laggards

Posted on by Cornelio Ash

Highlighted Charts

 

U.S.: Lennox International (LII), Weibo (WB), Post Holdings (POST), American Financial Group (AFG), Invitae (NVTA), Vishay Intertechnology (VSH), CDK Global (CDK).

 

Developed: Oji Holdings (OJIH.JP; 3861 JP), Kyowa Exeo (KYEX.JP; 1951 JP), Amada Holdings (AM@N.JP; 6113 JP), NTT Docomo (TTMO.JP; 9437 JP), Ajinomoto (AJ@N.JP; 2802 JP), Sumitomo Realty Development (CK@N.JP; 8830 JP), Orpea (ORP.PR; OPRR EB), Toho Holdings (TOHP.JP; 8129 JP), Bureau Veritas (BVI.FR; BVI FP), Mtr (MTRC.HK; 66 HK).

 

Emerging: Telefonica Brasil (TCL.BR; VIVT4 BZ).

Software — Security Sector

Posted on by Cornelio Ash

Key points from this report:

 

  • WFH Accelerates Shift to Cloud-Based Security. Q1 FY20 has confirmed thoughts from our April Cybersecurity report as a select group of young, cloud-based security companies  continue to gain share from legacy security platforms (i.e Checkpoint).
  • Increasing Cyberattacks. Since February 2020, email phishing attacks have increased +667% as employees are working from home and other remote locations.
  • Cybersecurity: Secular Growth Industry. Annual global spending on cybersecurity software and services is poised to increase 52% over the next four years, from $124B to $189B in 2023, a four-year CAGR of 11%.
  • Top Picks: Fortinet (FTNT) , Zscaler (ZS), Okta (OKTA) , Qualys (QLYS), Crowdstrike (CRWD).

Global Laggards

Posted on by Cornelio Ash

Highlighted Charts

 

U.S.: General Dynamics (GD), Fifty One Job (JOBS), Weibo Corp (WB), Genworth Financial (GNW), Invitae (NVTA), Motorola Solutions (MSI).

 

Developed: Andritz (AND.AT; ANDR AV), Swisscom (SCMN.CH; SCMN SW), Ajinomoto (AJ@N.JP; 2830 JP), Leumi (LUMI.IL; LUMI IT), CSPC Pharmaceutical (CPHA.HK; 1093 HK), Fujifilm Holdings (FP@N.JP; 4901 JP), Scsk (SUPU.JP; 9719 JP).

 

Emerging: China Steel (CST.TW; 2002 TT), Kt & G (KTB.KR; 033780 KS), SK Hynix (HYI.KR; 000660 KS).

 

Global Laggards

Posted on by Cornelio Ash

Highlighted Charts

 

U.S.: Carlisle Cos (CSL), Rogers Communications (RCI), JBG Smith Properties (JBGS), Avanos (AVNS), Juniper Networks (JNPR), Commvault Systems (CVLT), Post Holdings Inc (POST), Hub Group (HUBG).

 

Developed: Gbl New (GBLN.BE; GBLB BB), Skanska (SKBF.SE; SKAB SS), Vivendi (EX@F.FR; VIV FB), Huatai Securities (HUAT.HK; 6886 HK), Alfresa (ALCH.JP; 2784 JP), Toho (TOHP.JP; 8129 JP), Scsk (SUPU.JP; 9719:JP).

 

Emerging: NONE

Globant

Posted on by Cornelio Ash

Key points:

 

  • The stock is forming the right side of a consolidation after positive Q1 FY20 results. Buy.
  • Fundamental ratings: EPS Rank 97, Composite Rating 95, SMR Rating A.
  • Technical ratings: RS Rating of 91 and A/D Rating of C+.