Research

Vivo (Buy, TP BRL33, +21%) - Q1 25: Solid start to the year

Infineon: strong recovery amid FX and tariff headwinds. We see upside.

Wolfspeed: suspension of coverage.

FCC Chair Escalates DISH/SpaceX battle

SE: 1Q25 Flash - Meaningful Beat in Margins

TME: 1Q25 Flash - OMS in Line with Our Expectations

JD: 1Q25 Flash - Results Top Expectations

DnF Mobile Readthroughs from Nexon 1Q25 Results: Our Take

Liberty LA - Given another disappointing print out of its PR business we ask what investors in both LILAK equity and the PR bonds should do now? Price target to $13.9.

KPN, Odido (Overweight from Equal Weight): NL meeting notes - Change is coming

VodafoneZiggo: Still a challenging creditor outlook

SATS: Quick thoughts on risk to licenses from FCC action        

Legacy Tech & AI acclerating. Taiwan Apr Sales +29% YoY

Auto/Industrial recovery; Enterprise IT slowdown; Chinese semicap; Robotaxi; Arm, AMD, Arista.

VMO2 merging with Daisy: What does this mean?

United Internet/ 1&1 1Q25: Service revenue stable, as mobile pricing improves

Tariff update – UK & China deals

MTN Group – Q1 25: Group trends accelerating driven by Nigeria and Ghana

Big Week Ahead for Tariff Litigation, Tax Bill, Maybe Spectrum (But Not BEAD)

SK Telecom – Q1 25 Quick Take: Good cost cutting progress overshadowed by impact of data breach