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📝 Editor’s Note
We are once again dealing with the continued conflict in the Middle East, as a temporary lull in strikes have resumed.
The Houthis in the Red Sea wants to emulate what Iran is doing, and block the al-Mandeb strait that facilitates 15% of the world’s trade.
Our view is still the same in times of risk. Look for companies that provide decent dividend yield to hold for the longer-term.
This week, we are looking at two financial institutions and a timber company in the U.S.
Before we proceed, we have some interesting content this week that might change how you think about your portfolio!
Featured Content
Towkay Talk
Stock Rundowns
IPOs
Cheers,
InvestKaki Team 🤜🤛
Table of Contents
Market Roundup (U.S.)
Moving on, here are the news that shocked the world…
Alphabet $GOOG ( ▲ 6.88% ): Alphabet earnings beat expectations. Revenue is up by 20% boosted by its Cloud segment. However, investors were worried that the company increased its capex projections, and that it had its first negative cash flow since listing two decades ago [Read More]
Microsoft $MSFT ( ▲ 3.02% ): Microsoft revenue beat expectations, growing by 18%. Its Azure Cloud segment was up by 41% as its Microsoft Co-pilot seats also grew by 50% to 30 million in July from 20 million in April [Read More]
Meta $META ( ▲ 3.28% ): Meta did not have a good earnings session. It was below expectations as its cash position dwindled by 90% (similar to Alphabet). Its profit declined by 13.6%, as it incurs a higher impairment charge for its Reality Labs division [Read More]
Amazon $AMZN ( ▲ 15.32% ): Amazon is having a field day with its earnings. Top and bottom line beat expectations as it reported strong growth in its chip and AWS cloud segment. [Read More]
Apple $AAPL ( ▼ 7.35% ): Apple is undoubtedly the king for this week, as it recently beat out Nvidia for the highest market cap. Financial numbers are stronger-than-expected as its iPhone sales are up by 22% but it offered a weak guidance for the quarter ahead due to supply constraints [Read More]
Market Roundup (Asia)
Here are the news covering the Asia market…
CXMT: Changxin Technology Group had a strong showing on its first day of trading, with share price being up by 466%. It has raised US$8.6 billion, making it the biggest IPO offering this year [Read More]
Sheng Siong: Sheng Siong’s revenue and profits are both up by 11.9%, as its store count increased by 16 in 2025 and 2026, but faces higher staff costs coming from the Progressive Wage Model [Read More]
Starhill Global REIT: Starhill Global REIT’s distribution per unit increased by 0.8% due to higher contributions from Ngee Ann City Property and Lot 10 properties [Read More]
DFI: DFI has turned a loss of US$38 million in 1H 2025 into a profit of US$118 million in 1H 2026, as its convenience and home furnishing segments returned to growth [Read More]
Digital Core REIT: Digital Core REIT distribution per unit was unchanged for 1H 2026 but it announced that it has signed a 10-year rental agreement with a cloud provider for 8217 Linton Hall Road in Virginia [Read More]
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Stock Ideas
Progressive sells insurance products in the U.S.
👆 Dividend Case: Progressive offers a high dividend yield of 6.5% currently, which is higher than its historical average of 2.1% from 2021 to 2025. Moving forward, dividend yield is projected to decline to a range of 3% to 4% but still remains higher than its historical. We see that this and its future yields are higher than the industry average of 2.4%.
💪 Investment Case: Progressive has just recently became the number 1 auto insurance company in the US, beating out Geico and Stat Farm. Discounted Cash Flow (DCF) valuation shows that the company is potentially 50% undervalued.
⚡ What to be careful about: Claims could rise for the overall insurance industry as climate change is intensifying natural disaster evens.
❓ Market Analysts: Target price of US$230 with an implied upside of +8%.
TFS Financial Corporation provides retail and consumer banking services to clients in the United States.
👆 Dividend Case: High dividend yield of 6.3% compared to the industry average of 2.2%.
💪 Investment Case: TFS latest earnings have beaten expectations. Profits are up by 31.4% driven by higher net interest income and non-interest segment.
⚡ What to be careful about: Possible slowdown in the U.S. economy due to high oil and gasoline prices.
Rayonier is a REIT that owns or leases timberlands in the U.S. and New Zealand.
👆 Dividend Case: Dividend yield is currently at a whopping 11.4%, far exceeding the industry average of 3.8%.
💪 Investment Case: Rayonier has been a surprise. Earnings have beaten expectations the past four quarters, indicating that investors might be undervaluing the company.
Lumber prices have been on an increase since the beginning of the year, rising from US$539 to US$625 in July 2026. This provides an important catalyst for the company’s average selling price.
⚡ What to be careful about: A sudden slowdown in timber demand from a slowing global economy.
❓ Market Analysts: Target price of US$25.83 with an implied upside of +20.8%
And that’s a wrap!
Cheers,
James Yeo~
Content Highlights