Category: 3. Business

Kyowa Kirin (TSE:4151) has posted steady revenue growth over the past year, with its annual net income rising by 18%. The company’s shares have climbed 10% in the past month, drawing more eyes to its performance.

See our latest analysis for Kyowa Kirin.

After a relatively sluggish start to the year, Kyowa Kirin’s share price has picked up momentum with a 1-month share price return of 9.7%. That said, its total shareholder return has been slightly negative over the past twelve months and remains underwhelming across three and five years. This suggests the recent pop may reflect shifting sentiment or renewed optimism for the company’s outlook.

If this renewed momentum has you curious about what else is gaining traction, now is a perfect time to broaden your search and discover fast growing stocks with high insider ownership

With fundamentals on the rise and shares still trading just below analyst targets, the question for investors now is whether Kyowa Kirin’s recent jump signals a real buying opportunity or if the market has already factored in its future growth.

Kyowa Kirin trades at a notably high price-to-earnings (P/E) ratio of 35.7x, placing it well above both the Japanese pharmaceutical industry average and its closest peers. At the last close of ¥2,492, the stock commands a premium valuation from the market.

The P/E multiple reflects how much investors are willing to pay for each unit of the company’s earnings. In pharmaceutical and biotech sectors, high P/E ratios often signal anticipated future profits, innovation, or defensiveness. However, they can also indicate that expectations may already be priced in, especially if recent earnings have faced significant volatility.

When compared to the industry average P/E of 15.3x and the peer average of 16.5x, Kyowa Kirin’s valuation stands out as particularly expensive. The P/E ratio also exceeds the estimated fair value multiple of 22.8x, suggesting that the current price could decline if market sentiment shifts or growth underdelivers.

Explore the SWS fair ratio for Kyowa Kirin

Result: Price-to-Earnings of 35.7x (OVERVALUED)

However, sluggish long-term returns and a steep premium to peers could both act as potential headwinds for Kyowa Kirin’s optimistic outlook.

Find out about the key risks to this Kyowa Kirin narrative.

While Kyowa Kirin’s high price-to-earnings ratio suggests the stock is expensive compared to peers, the Simply Wall St DCF model offers a very different perspective. This methodology estimates Kyowa Kirin is trading roughly 53% below its fair value, challenging the notion that shares are overvalued. Could the market be missing something?

Look into how the SWS DCF model arrives at its fair value.

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Kyowa Kirin for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 886 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match – so you never miss a potential opportunity.

If you approach valuations with a different perspective or want to see trends for yourself, you can quickly analyze the numbers and craft a story in just a few minutes. Do it your way

A great starting point for your Kyowa Kirin research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.

Markets move fast and the best opportunities do not wait long. Give yourself an edge by checking out a range of standout companies tailored to your interests.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include 4151.T.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Steep penalties

Indonesian authorities say they have taken down more than 5.7 million pieces of gambling-related online content over the past eight years.

Police have also stepped up enforcement, with at least 85 influencers arrested last year for promoting online betting.

Penalties are steep, including potential prison terms of up to 10 years, while gambling itself is punishable by up to four years in jail.

The Ministry of Communication and Digital Affairs said it regularly asks social media platforms to remove gambling-related content, and issues warning letters if those requests go unanswered.

“Continued inaction will result in a third warning letter sent to the platform, which carries additional penalties and may lead to access termination,” Alexander Sabar, director general for digital space supervision, told AFP.

In October, the ministry temporarily suspended TikTok’s operating license because the platform refused to provide data related to the alleged monetisation of live activities from accounts suspected of online gambling.

AFP asked Sabar if the minister will summon Meta following the findings of paid gambling ads.

He said the ministry maintains regular communication with social media platforms, and often raises the issue of gambling adverts.

The ministry “urges all digital platforms to strengthen their ad detection and moderation systems in accordance with Indonesian laws and regulations”, Sabar told AFP on November 12.

“Should repeated violations be found and left unaddressed, we will take enforcement in line with the applicable regulations.”

China’s premier metropolis has a vision for the future of dining – and it is one involving restaurants run by artificial intelligence, with automated kitchens, robot servers, data-driven menus and intelligent supply chains.

The city has set a target of becoming a “nationally leading, world-class” hub for smart restaurants by 2028 as part of a plan that analysts say could trigger a major shake-up in China’s vast food service sector: reshaping how meals are made and transforming the labour market.

The action plan, released on Tuesday by Shanghai’s commerce commission and four other municipal bureaus, aims to push catering businesses across the city to overhaul their operations using new technologies over the next three years.

“Across group dining, fast-food and drink chains, over 70 per cent of operations will incorporate smart technologies throughout their value chains, while the rate of intelligent application in key operations at full-service restaurants will exceed 50 per cent,” the document stated.

Shanghai would also create a number of smart central kitchens, set up three to five “AI + dining” pilot projects, and nurture several leading smart solution providers for the catering industry, it added.

JPMorgan CEO Jamie Dimon has called for major reforms to fix the United States’ economy, failing which the nation could follow the path of Europe, which has been facing a long period of economic slowdown.

“In 30 years, if we don’t fix these things, we are going the way of Europe,” he said, pointing out how over-regulation, weak investment and stalled innovation has left the continent with slow growth.

Dimon made the remark at the America Business Forum in Miami, where he suggested that most of America’s modern-day economic problems are early signs of a system that is too ‘slow to respond’.

“All these bad policies usually hurt the lower-paid people more,” he said, urging the US government and authorities to lower regulations that, according to him, stall construction and hurt small businesses.

Dimon used Europe as a prime example and warned that the long period of slow growth could jeopardise the continent’s economy.

“Europe used to have a GDP per person of about 90% of America,” he said. “It’s now 65% of America — and it’s on its way to 50%. And if they don’t fix it, it will jeopardise the health of Europe itself over time.”

Dimon warned that many of the pressures that Europe faces now visible in the US, starting from housing shortages to sluggish permitting and uneven school outcomes.

“You look at affordable housing, education, small business — it’s regulatory. You can’t build a multifamily building, you can’t put something here, you don’t have enough parking, you’re stuck in federal, state and local permitting. It’s terrible,” he said.

“Good public policy is free,” he said. “We already spend the money. We just need to fix the system a little bit,” he added.

Dimon went on to call for private sector to increase US competitiveness, pointing to JPMorgan’s plan to channel up to $500 billion over the next ten years into AI capabilities, defence and engineering.

• Affiliated Managers Group reported a strong third-quarter 2025 performance, posting US$528 million in sales and US$212.4 million in net income, while affirming a US$0.01 per share dividend and completing a sizeable share repurchase program.
• The sharp increase in net income and earnings per share, along with ongoing capital returns to shareholders, highlights improved profitability and confidence in the company’s financial position.
• We’ll explore how the surge in quarterly earnings and active share repurchases impact Affiliated Managers Group’s broader investment narrative.

Trump has pledged to “unleash” American oil and gas and these 22 US stocks have developments that are poised to benefit.

Affiliated Managers Group Investment Narrative Recap

To be a shareholder in Affiliated Managers Group, you need to believe in the firm’s ability to keep growing its alternative asset base and deliver consistent earnings, despite industry shifts towards passive investing and competitive fee pressures. The latest earnings report brought a sharp rise in net income and EPS, but these solid results do not alter the most important short-term catalyst: sustained inflows to higher-fee alternative strategies. The main risk, ongoing outflows from traditional active equity, remains unchanged, and is not materially affected by this quarter’s numbers.

Among recent announcements, the completion of a substantial share buyback program stands out. AMG repurchased 334,572 shares in the third quarter and has now bought back over 2 million shares since mid-2024, reducing the share count and increasing earnings per share just as profitability improved. This supports the near-term catalyst of compounding value for shareholders via capital returns.

By contrast, investors should be aware of ongoing concentration risk among a few key affiliates, as stability depends on…

Read the full narrative on Affiliated Managers Group (it’s free!)

Affiliated Managers Group’s outlook anticipates revenues reaching $2.2 billion and earnings rising to $594.9 million by 2028. This implies a 2.7% annual revenue growth and a $152.5 million increase in earnings from current levels of $442.4 million.

Uncover how Affiliated Managers Group’s forecasts yield a $308.00 fair value, a 19% upside to its current price.

Exploring Other Perspectives

Simply Wall St Community members provided two fair value estimates for AMG, ranging from US$288.51 to US$308 per share. While these span a moderately tight range, the big catalyst remains AMG’s strong alternative AUM growth, with differing community and analyst views offering extra context.

Explore 2 other fair value estimates on Affiliated Managers Group – why the stock might be worth just $288.51!

Build Your Own Affiliated Managers Group Narrative

Disagree with existing narratives? Create your own in under 3 minutes – extraordinary investment returns rarely come from following the herd.

Seeking Other Investments?

The market won’t wait. These fast-moving stocks are hot now. Grab the list before they run:

This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

monday.com (MNDY) just released its third quarter earnings, showing a switch from a loss to a profit and stronger sales compared to last year. The company also shared upbeat revenue guidance for the rest of 2025.

See our latest analysis for monday.com.

Despite monday.com’s leap to profitability and strong revenue guidance, its share price momentum has faded this year, with a year-to-date share price return of -30.51%. However, long-term holders have still seen a three-year total shareholder return of nearly 66%, reflecting its persistent growth story even through recent volatility.

If recent earnings surprises have you rethinking where the next breakout could come from, now is the perfect moment to discover fast growing stocks with high insider ownership

With shares pulling back this year despite impressive earnings and bullish guidance, the key question is whether monday.com is now undervalued or if the market has already priced in its future growth potential.

Most Popular Narrative: 39.7% Undervalued

Compared to monday.com’s last close price, the most popular narrative sets a fair value much higher, pointing to significant upside potential. This perspective hinges on powerful growth levers and platform innovations that could reshape future earnings.

“Ongoing global shift toward digital transformation, remote/hybrid work, and rising SaaS adoption continues fueling strong demand for cloud-based productivity and collaboration platforms like monday.com, supporting high double-digit revenue growth and future ARR expansion. Rapid integration of generative AI and low-code/no-code capabilities (e.g., Monday Magic, Vibe, Sidekick) enable broader automation and workflow customization. This strengthens platform differentiation and stickiness, which may improve customer retention, ARPU, and net margins as monetization scales.”

Read the complete narrative.

Want to know what powers monday.com’s premium narrative? The story weaves together bold revenue expansion and margin moves that could surprise even savvy investors. The path to this valuation is paved with a mix of disruptive tech launches and strong recurring revenue signals. Which assumptions really tip the scales? See what else drives this ambitious price target.

Result: Fair Value of $266.33 (UNDERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, there are still risks to watch, such as slowing new customer growth and increased competition. These factors could temper even the most optimistic projections.

Find out about the key risks to this monday.com narrative.

Another View: Market-Based Multiples Tell a Different Story

Looking through the lens of price-to-earnings, monday.com trades at a hefty 127.2x, far above the US Software industry average of 31.2x and the peer average of 37.5x. The fair ratio sits at 47.1x. This suggests the market has high expectations priced in. Does this signal risk, or could strong future growth close the gap?

See what the numbers say about this price — find out in our valuation breakdown.

Build Your Own monday.com Narrative

If you see things differently or want to dive deeper into the numbers, you can craft your own story in just a few minutes. Do it your way.

A good starting point is our analysis highlighting 4 key rewards investors are optimistic about regarding monday.com.

Looking for More Investment Ideas?

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This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Here are the best woollen kurta sets that make winter dressing effortless, elegant, and oh-so-comfortable.

Woollen kurta sets to stay snug and stylish:

A go-to for anyone who loves traditional silhouettes with a soft touch of luxury. The wool-blend fabric feels plush against the skin, while the embroidery adds a subtle festive flair. The matching palazzo balances the look beautifully, making it ideal for family gatherings or temple visits in the colder months.

This variation of the Rosary set brings together fine embroidery with practical comfort. Designed for warmth without bulk, it’s great for office wear, lunches, or festive get-togethers. The breathable wool ensures you stay comfortable indoors and outdoors alike.

A classic reimagined for modern wardrobes, this embroidered set strikes the perfect balance between understated and elegant. The kurta’s detailed threadwork adds texture, while the flowy palazzo gives it a relaxed yet polished vibe. Pair with juttis and statement earrings for an instant winter-ready ethnic look.

For those who prefer prints over embroidery, this INDAISY set delivers just the right amount of style and comfort. The printed woollen fabric feels warm yet lightweight, making it perfect for casual outings, travel, or daily wear. The bright patterns add a cheerful twist to dull winter days.

Simple, sleek, and versatile, this wool blend kurta set works beautifully for both work and weekends. The tailored pants and soft woollen kurti create a clean silhouette that flatters all body types. Add a shawl or stole, and you’re set for a cosy, elegant winter ensemble.

Warmth meets grace in this timeless set. With delicate embroidery and a snug woollen texture, this kurta-palazzo duo is perfect for light winter celebrations. It’s stylish enough to wear at a mehendi or festive dinner but comfortable enough for everyday wear.

If you’re looking for a statement piece that doesn’t scream for attention, this one’s a winner. The embroidery adds richness without overdoing it, while the woollen fabric keeps you comfortably warm. A great pick for semi-formal occasions or when you want to dress up with minimal effort.

The ultimate winter ethnic upgrade, this 3-piece set comes with a kurta, palazzo, and stole. The Karachi wool fabric feels plush yet breathable, while the mandarin collar and full sleeves give it a refined, structured look. Perfect for winter weddings, festive poojas, or even office events where you want to look traditional but feel cosy.

These woollen kurta sets solve the classic winter fashion struggle, choosing between warmth and elegance. They’re cosy enough to skip layering, yet stylish enough for any occasion.

Similar stories for you:

Fast drape, full glam: Ready-to-wear sarees that make dressing up effortless

Easy, breezy, and beautiful: Kurtis for women who want comfort with style

Kurta sets for women: Your festive dressing shortcut for the wedding season

Disclaimer: At Hindustan Times, we help you stay up-to-date with the latest trends and products. Hindustan Times has an affiliate partnership, so we may get a part of the revenue when you make a purchase. We shall not be liable for any claim under applicable laws, including but not limited to the Consumer Protection Act, 2019, concerning the products. The products listed in this article are in no particular order of priority.

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Wall Street has reined in bets on a third straight interest rate cut as the US Federal Reserve’s hawks voice concerns that inflation remains too high to justify lower borrowing costs.

The probability of another quarter point cut, implied by market prices, has fallen from nearly 70 per cent to 40 per cent over the past week after several members of the rate-setting Federal Open Market Committee made plain their lack of support for action at the next meeting on December 10.

The shift — in which investors have also pared back expectations for more cuts in 2026 — contributed to a sell-off in equities and an uptick in two-year Treasury yields this week, amid investor jitters over valuations in AI stocks.

“It is impossible to know which way this goes,” said Krishna Guha, vice-chair at Evercore ISI, on the December Fed vote.

The Fed has lowered borrowing costs by a quarter point at each of its previous two policy meetings on the back of signs that the US labour market is weakening and President Donald Trump’s tariffs are having less impact on inflation than many feared.

But the October vote saw a rare three-way split, with Fed governor and Trump ally Stephen Miran supporting the US president’s calls for lower rates by backing a 50 basis point cut, while Kansas City Fed president Jeff Schmid wanted rates held.

Fed chair Jay Powell warned after the vote that a December cut was not a “foregone conclusion”, while several regional Fed officials without a vote said later that they disagreed with last month’s decision.

“To our ear, the [December] meeting outcome is shaping up to be just as contentious as Powell portrayed in October’s press conference,” said Jonathan Millar, economist at Barclays.

Schmid signalled on Friday that he would continue to support keeping the US central bank’s benchmark rate in a 3.75-4 per cent range, saying neither market nor economic conditions suggested rates were too high.

Susan Collins, the Boston Fed head who is seen as closer to the centre of the FOMC, said earlier in the week that ​​it would “likely be appropriate to keep policy rates at the current level for some time”.

Minneapolis Fed president Neel Kashkari, who — unlike Collins and Schmid — does not currently have a vote on Fed policy, on Thursday pivoted from supporting another cut, saying he would also probably argue in favour of a December hold.

Diane Swonk, chief US economist at KPMG, said there had been “a lot of wishful hoping” among investors that the release of downbeat economic data would force the Fed to cut.

The Bureau of Labor Statistics will publish the September jobs report next Thursday but it remains unclear whether figures on inflation and the labour market for October will be published at all.

“What we’ve really seen is that there is a lot of reticence to cutting aggressively given all of the unknowns out there,” said Swonk. “There is also some inflation coming from the services sector that has just not been eradicated.”

While September’s rise in the consumer price index was weaker than anticipated at 3 per cent year-on-year, price growth remains in excess of the Fed’s 2 per cent inflation goal.

Minutes of the October vote, set for release on Wednesday, could reveal more about divisions within the FOMC.

Whether or not the US central bank opts to end the year with a cut, some analysts say the Fed chair will face a tricky balancing act to minimise the number of dissents.

Doves on the Fed’s board — Chris Waller, Michelle Bowman and Miran, all of whom were appointed by Trump — would probably vote against a decision to hold, raising the prospect of three governors dissenting for the first time since 1988.

“Absent miraculous clarification from limited data, Powell is in a rough spot,” said Guha.

JPMorgan Chase & Co. (NYSE:JPM) ranks among the best financial stocks to buy according to billionaire Ken Fisher. Following an investor meeting with the bank’s Chief Data & Analytics Officer, UBS reaffirmed its Buy rating and $357 price target for JPMorgan Chase & Co. (NYSE:JPM) on November 12. The firm emphasized JPMorgan’s long-term lead in the practical use of AI, pointing out that the bank recently switched to generative AI for new applications.

Supannee Hickman / Shutterstock.com

According to the meeting, JPMorgan’s use of AI is boosting revenue rather than saving costs. Speaking on its conviction regarding artificial intelligence, JPMorgan management stated that AI capabilities will someday become “table stakes” for financial organizations, similar to basic technology requirements like personal computers or internet access.

The LLM Suite, a proprietary platform driven by top third-party large language models (LLMs), is at the center of the bank’s AI revolution. The platform has automated several procedures and provided employees direct access to AI tools.

JPMorgan Chase & Co. (NYSE:JPM) is a multinational financial services company that offers investment banking in addition to consumer and small business financial services. It also offers commercial banking, asset management, and financial transaction processing.

While we acknowledge the potential of JPM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds.

Disclosure: None. This article is originally published at Insider Monkey.

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Renault and Nissan are discussing reigniting their 26-year alliance as recent leadership changes at both companies and a financial crisis at the Japanese group have triggered a fresh review of their often tumultuous partnership.

Former Renault CEO Luca de Meo had favoured selling down the French group’s stake in Nissan after the relationship soured following the arrest of the Japanese group’s former chair Carlos Ghosn in 2018, according to people familiar with the discussions. But de Meo’s departure has led to talks over reviving the alliance agreement, the people said.

The talks are the latest chapter in a volatile partnership following a restructuring of the alliance in 2023 under which Renault agreed to gradually reduce its holding in Nissan, once as high as 43 per cent, to 10 per cent.

De Meo had wanted to reinvest Renault’s proceeds from its Nissan stake sale to drive the French carmaker’s own growth, said the people. The French group holds almost 36 per cent in Nissan, including an 18.7 per cent stake in a French trust it wants to offload. Its voting rights are limited to 15 per cent.

The sale had been complicated by Nissan’s sinking share price and the strong premium sought by De Meo to sell the shares. Renault was forced to write off €9.5bn of its stake in Nissan earlier this year. 

Nissan’s share price has plummeted 25 per cent over the past year as it undergoes drastic restructuring involving multiple plant shutdowns and 20,000 job cuts.

De Meo’s exit to run French luxury group Kering has changed the calculus, opening the door for new CEO François Provost to re-evaluate the alliance and its benefits, people familiar with the company said. 

At an event in Paris this month, Provost said that partnerships were a key remedy to Renault’s small scale compared with other European carmakers such as Peugeot and Fiat owner Stellantis or Mercedes-Benz.

“Twenty years with Nissan have taught us . . . that we have the ability not only to negotiate partnerships but above all to execute them to Renault’s advantage. That’s how we address the topic of scale,” he said.

A Renault spokesperson said that Provost and Nissan’s new chief executive Ivan Espinosa were in regular discussions about how each company could support each other, saying this was a “good sign” for the future of the relationship.

In his previous role, Provost was in charge of Renault’s partnerships with other groups and the company this month announced an expansion of its co-operation with Chinese carmaker Geely in Brazil.

“De Meo’s departure opened up a new possibility for the alliance . . . The new CEO is much more in favour of doing something with the alliance,” said one person with knowledge of the matter. “He is a partnership man”, added another person.

Earlier this year, Renault announced plans to acquire full control of its joint venture in India with Nissan which helped its Japanese partner raise capital while strengthening the French group’s foothold in a key market. Nissan will continue to produce at the plant.

Meanwhile, the Japanese group is building its own version of Renault’s all-electric Twingo using the French company’s platform at its Douai plant in northern France. The two groups also have an alliance with smaller rival Mitsubishi Motors.

Another person with knowledge of the discussions said more projects between Nissan and Renault will be announced. With Nissan’s performance under pressure, the company is also looking for more opportunities to jointly manufacture its vehicles with various partners. 

“The alliance is a key pillar of our business,” Nissan said, adding that the two groups were working on “several high-value strategic projects”. 

Renault also changed its representatives on the Nissan board, with the French group’s chair Jean-Dominique Senard departing in April, while putting in place board members charged with supporting Nissan’s financial turnaround. 

The same people said it was too early to discuss specific projects the two could undertake, but that Renault could benefit from Nissan’s geographical reach in countries such as the US, where the French group does not have a presence. In an interview with the Nikkei newspaper, Espinosa said he was also discussing the joint development of products with Honda in the US despite the collapse of merger talks earlier this year.

The French group had rejected a merger proposal between Honda and Nissan earlier in the year in part because “it did not include any premium”.

“We are not talking about building back up capital stakes but . . . there are many ways in which we could collaborate further”, said one senior Nissan insider.