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On August 19th, it was learned from Xiaomi that their upcoming next-generation humanoid robot will be approximately 1.7 meters tall, weigh 66 kilograms, and have 66 degrees of freedom, half of which are concentrated in its hands. Currently, this robot is a prototype and will be exhibited in Europe after its initial domestic debut. In 2022, Xiaomi released its full-size humanoid robot "Tieda," nearly two months earlier than the Tesla Optimus prototype. Tieda was 1.77 meters tall, weighed 52 kilograms, and had 21 degrees of freedom. Since then, Xiaomi has released little information regarding its robotics products.Iranian Parliament Speaker Ghalibaf: Everyone only needs to look at the regional situation to see who is winning.On August 19th, Goldman Sachs issued a report expecting the Hong Kong Stock Exchange (00388.HK) share price to react positively to its second-quarter results. Second-quarter net profit was HK$5.4 billion, up 21% year-on-year and 4% quarter-on-quarter, exceeding the banks and market expectations by 11% and 15% respectively. Revenue (excluding investment income) was 5% higher than the banks forecast, and investment income also exceeded the banks expectations, driven by fair value gains on investments in non-listed companies. The rating is "Buy," with a target price of HK$540.August 19th - According to TrendForces latest memory spot price trend report, the DRAM spot market supply and demand remain weak. Trading volume is expected to remain low in the third quarter of 2026, while prices are expected to continue to rise slightly. The average spot price of mainstream chips (such as DDR4 1Gx8 3200MT/s) has risen from $42.61 last week (August 12th) to $42.90 this week (August 18th), an increase of 0.67%. Regarding NAND flash memory, trading momentum continues to weaken. This week, the spot price of 512Gb TLC wafers rose 0.39% to $21.208 per wafer.On August 19th, UBS released a research report stating that Baidus (09888.HK) second-quarter performance was weak, with AI cloud infrastructure revenue growing by 50% year-on-year, a slowdown from the 79% growth rate in the first quarter. This slowdown is believed to be due to the timing of revenue recognition. The report emphasizes that the computing demand for AI training and inference remains healthy, and predicts that growth will accelerate again to over 60% in the second half of the year, driven by increased spending from existing customers and an expanding customer base. The bank slightly raised its second-half AI cloud infrastructure revenue growth forecast to over 60%, while lowering its second-half core operating profit forecast by 6% to reflect increased R&D spending. The full-year core revenue forecast for Baidu remains largely unchanged, while the full-year non-GAAP net profit forecast is lowered by 27%. The target price is lowered from HK$165 to HK$155, while maintaining a "Buy" rating.

Phillips 66 Trademarks Mark Lashier will Succeed Greg Garland as CEO

Haiden Holmes

Apr 13, 2022 09:44

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Lashier, a chemical engineer who joined the firm three decades ago in the chemicals division, was named president and chief operating officer a year ago after leading Chevron Phillips Chemical Co, the company's joint venture with Chevron Corp (NYSE:CVX), since 2017.


Garland has considered refining as a mature company and has concentrated its efforts on expanding its energy infrastructure, chemicals, and establishing a presence in electric vehicle battery components. It spent around $150 million last year for a 16.5% share in Novonix Ltd, an Australian provider of lithium-ion battery materials.


Garland "built a market-leading diversified energy manufacturing and logistics organization while investing for the future and producing solid financial returns," according to Glen Tilton, lead independent director of Philips 66.


Although the Houston company's non-refining initiatives have generated great shareholder returns, its shares have lately underperformed bigger competitors that benefitted from increasing gasoline margins during pandemic lockdowns.


Lashier is expected to pursue Garland's diversification approach, which includes biofuels, hydrogen, and battery components. However, he must demonstrate that he can match competitors Marathon Petroleum Corp (NYSE:MPC) and Valero Energy (NYSE:VLO), which increased shareholder returns by selling off retail operations and diversifying into renewable diesel, analysts said.


Phillips 66 (NYSE:PSX) traded at $81.97 on Tuesday, up 13% year to date, compared to 34% year-to-year gains at Marathon and Valero and around 96% year-to-date gains at PBF Energy (NYSE:PBF).


"Lashier's task is to increase the company's value," Matthew Blair, an analyst at Tudor Pickering Holt & Co., said. "He will face inquiries regarding the company's non-refining businesses' value and what he can do to boost stock price performance and capitalize on the potential valuation."

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