🎉 Earnings highlight: ST Engineering, SingTel, City Dev and Tencent

✈️ ST Engineering: The company reported a 20% jump in its first half net income to S$336.5 million, while its record-high orderbook provides close to three years of revenue visibility. The sustained recovery in earnings is driven by a gradual improvement in commercial aerospace. STE shares are leading the Singapore benchmark index higher this morning with a +3.7% increase as of 1013AM, while trending STE call warrant 📌 $STEng MBeCW241203 (RGUW.SG)$ (https://warrants.com.sg/tools/livematrix/RGUW) is up 36.8% - close to 10 times more - to SGD 0.026

📱 SingTel: 1QFY25 headline profit after tax and minority interests was S$690 million, above Bloomberg's expectations of S$646 million. Service earnings was higher at S$977 million, due to improving margins from its SingTel SG, Optus and NCS businesses. SingTel shares are up 1.7% as of 1005AM, while SingTel's trending call warrant 📌 $SingtelMBeCW250131 (XIBW.SG)$ (https://warrants.com.sg/tools/livematrix/XIBW) is up 13.6% (8 times more than SingTel shares) to SGD 0.025, while trending put warrant 📌 $SingtelMBePW250131 (FMXW.SG)$ (https://warrants.com.sg/tools/livematrix/FMXW) is down -12.5% to SGD 0.007.

🏢 City Dev: Reported first half revenue of S$1.56 billion which fell 42% year on year, owing to a 73% drop in property development revenue. The company expects headwinds in fundraising and operational pressures in the UK due to high interest rates, geopolitical tensions and trade risks and sees Singapore residential property buying sentiments improving in the second half of the year. It has two projects planned for launch this year. The stock is down 2.1% to $5.10 on the back of the lower than expected earnings while trending City Dev call warrant 📌 $CityDev MBeCW241127 (MOGW.SG)$ (https://warrants.com.sg/tools/livematrix/MOGW) is down 12.5% to SGD 0.007.

🎮 Tencent: Net income surged 82% to 47.6 billion yuan, compared with an estimated 39.9 billion yuan. Revenue jumped 8% to 161.1 billion yuan (USD 22.5 billion) for the April-June period, versus Bloomberg's projected estimate of 161.4 billion yuan. Its core domestic gaming segment, grew at the fastest pace in data that goes back to the third quarter of 2022, following the launch of its closely watched DnF Mobile game. Its operating income however, missed estimates due to higher costs related to employee benefits and marketing. Its share price was down as much as 2.4% to HKD364.20 in Hong Kong, but has since recouped more than half its losses to be down just 0.9% to HKD 370.40 as of 1110AM. When Tencent shares were down -2.4%, trending call warrant 📌 $TencentMBeCW241203 (NVLW.SG)$ (https://warrants.com.sg/tools/livematrix/NVLW) was down as much as 16.3% to SGD 0.041 and trending put warrant 📌 $TencentMBePW241203 (IAIW.SG)$ (https://warrants.com.sg/tools/livematrix/IAIW) was up as much as 14.7% to SGD 0.039.