September 11th, 2024 | 07:45 CEST
BioNTech, First Hydrogen, and TSMC with big announcements
As we enter the final third of what has so far been a successful 2024 stock market year, uncertainties and volatility are increasing. Even the seemingly invincible chip giant Nvidia has lost around a quarter of its stock market value since its highs in mid-June. On the other hand, other companies that have fallen sharply in recent months have reported positive news that could herald a possible rebound.
time to read: 3 minutes
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Author:
Stefan Feulner
ISIN:
TAIWAN SEMICON.MANU.ADR/5 | US8740391003 , First Hydrogen Corp. | CA32057N1042 , BIONTECH SE SPON. ADRS 1 | US09075V1026
Table of contents:
Author
Stefan Feulner
The native Franconian has more than 20 years of stock exchange experience and a broadly diversified network.
He is passionate about analyzing a wide variety of business models and investigating new trends.
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BioNTech - Breakout
With a price explosion of over 12%, BioNTech, which mutated into a stock market star during the COVID-19 pandemic, not only recaptured the USD 100 mark but also broke through the upward trend established at the end of March 2022. The buy signal generated should initially take BioNTech shares to the horizontal resistance area at around USD 117. The stock is receiving a tailwind from the relative strength index, which still has considerable room to run in the neutral area of 62, as well as the trend-following indicator MACD, which generated a buy signal at a low level.
The reason for the price explosion is the fact that the Mainz-based company is carrying positive news about several product candidates in its suitcase to Spain. The Conference of the European Society for Medical Oncology will be held in Barcelona from September 13 to 17. This event attracts many European cancer researchers. BioNTech plans to present information on various compounds currently in development, paying particular attention to the antibody BNT327. This is to be used to treat various types of cancer.
Analysts at JPMorgan are nevertheless skeptical ahead of the event. In a current study, the price target was left at USD 91.00, and the investment rating is "Underweight."
First Hydrogen - Expansion into Europe
The hydrogen innovator with offices in Vancouver, Montreal, and London is continuing to work on its global hydrogen strategy and is planning to expand into Europe with the opening of an office in Germany. Several international companies with expertise in renewable energy development, infrastructure construction, mergers & acquisitions, and fundraising have been commissioned to support the expansion. The aim is to enter the hydrogen ecosystem with its commercial vehicle powered by hydrogen fuel cells.
In the UK, First Hydrogen has successfully completed several test drives in real road conditions with major fleet operators such as online giant Amazon. First Hydrogen's light commercial vehicles achieved record ranges of 630 km on a single tank. Analyses also showed that there was hardly any drop in performance at extreme temperatures.
The outstanding test results also aroused great interest from Canada, where First Hydrogen plans to develop additional demo vehicles. Plans are also well advanced to build a vehicle assembly plant and a production facility for green hydrogen in Shawinigan, Quebec. From there, around 25,000 vehicles are to be produced annually for the North American market.
In the course of the general market correction, First Hydrogen shares have also fallen to a level of CAD 0.40 in recent months. Given the positive outlook and the global hydrogen strategy, however, a significant rebound could be imminent.
TSMC - Defying the peer group
The chip industry, particularly NVIDIA shareholders, may have breathed a sigh of relief, thanks to the Taiwanese giant TSMC. After NVIDIA's weak outlook last week, analysts were concerned that the market had overestimated the durability of AI infrastructure spending.
With a 33% increase in sales, TSMC was able to dispel these concerns. Sales reached around USD 7.8 million in August, a slowdown from the previous month's 45% growth. Analysts expect TSMC sales to increase by 37% in the third quarter. With August's results, TSMC appears to be on track to slightly exceed average sales forecasts for the third quarter, according to Bernstein. If September follows the seasonal average of the last eight years, revenue in third quarter 2024 could be 5% to 6% above guidance and consensus.
More than half of the revenue for Taiwan's largest company, TSMC, is now generated by its high-performance computing segment, which is heavily benefiting from the rising demand in the field of artificial intelligence. TSMC is also the most important producer of the main processor for the iPhone.
Taiwan Semiconductor's strong figures dispelled concerns about stagnation in AI infrastructure spending. Market experts are tipping positive news from BioNTech on several product candidates. First Hydrogen plans to expand into Europe by opening an office in Germany.
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