To The Moon

Chinese search engine behemoth $Baidu(BIDU)$ posted a stronger-than-expected set of Q4 FY’22 results last week as growth in the company’s cloud computing business helped to offset a slump in the bread and butter advertising operations.While Baidu’s online marketing business saw revenue decline 6% year-over-year to RMB 18.1 billion ($2.62 billion), due to the resurgence of Covid-19 in many Chinese cities and weaker spending by advertisers, non-online marketing revenue grew by 11% to RMB 7.6 billion ($1.10 billion) driven by the cloud businesses.That said, Baidu’s adjusted earnings per share rose 31% to RMB 15.25 ($2.21) driven largely by lower personnel and promotional costs with adjusted operating margins rising to 25% fr

SHORTERS ARE WORKING TO COMPLETELY DESTRUCT THIS SHARE AND MANY OTHER SHARES. WHATEVER THEY FORGET THEY WILL BROKE THE ENTIRE ECONOMY IN US. ONE SOLUTION IS A COMPLETE BAN ON SUSPENSION + A COMMUNICATION FROM THE CEO ASAP, WITH THE FULL PROGRESS THAT THIS COMPANY HAS ALREADY MADE DURING DECEMBER AND JANUARY AND WHAT GOOD NEWS ARE STILL TO EXPECT US. HOPE THIS SHARE WILL SHOOT AND BE Bought THOUSANDS OF SHARES AT A TIME, GOOD LUCK, I STILL OWN MY SHARES, I STILL BELIEVE IN THIS COMPANY$Expion360 Inc.(XPON)$

Even the world's greatest investors are wrong from time to time.

DBS's 1Q22 total allowances were higher y-o-y and q-o-q due to higher SPs of S$167mil for the quarter. Nonetheless, credit costs were maintained at 15bps which is in line with recent quarters when significant repayments were excluded. The GP write-back of S$112mil for 1Q22 was from credit upgrades and transfers to NPA. GP reserves remained prudent at S$3.75bn, which were S$ 200mil above the MAS requirement and S$1bn above Tier-2 eligibility.

DBS (SGX:D05)'s 1Q22 earnings of S$1.80bn in line with our estimates. 1Q22 PATMI is 24% of our FY22e forecast. 1Q22 DPS stable q-o-q at 36 cents. NIM fell 3bps y-o-y to 1.46% but loan growth of 8% y-o-y cushioned NII. NIM grew 3bps q-o-q. Fee income grew 9% q-o-q but fell 7% y-o-y due to weaker market sentiment. Maintain ACCUMULATE rating on DBS with unchanged target price of S$41.60. Our FY22e estimates remain unchanged. For FY22e, DBS's management guided benign provisions, continued growth in loans and stable NIMs. We believe there is upside to NIM guidance. A 50bps move in interest can raise earnings by 13%.