United States | Singapore | Hong Kong | Earnings
Boeing Co. (BA US)
- Shares closed at a high since February above the 5dEMA.
- RSI is constructive and MACD turned positive.
- Long – Entry 235, Target 253, Stop 226
Tesla Inc. (TSLA US)
- Shares closed at a three-months high above the 5dEMA with rising volume.
- Both RSI and MACD are constructive.
- Long – Entry 420, Target 454, Stop 403
Frasers Logistics and Commercial Trust (FLT SP)
- Shares closed above the 5dEMA with elevated volume for the week.
- Both RSI and MACD are constructive.
- Buy – Entry 0.97, Target 1.05, Stop 0.93
Addvalue Technologies Ltd. (ADDV SP)
- Shares closed above the 5dEMA with elevated volume for the week.
- RSI is slightly overbought but MACD is still constructive.
- Buy – Entry 0.140, Target 0.168, Stop 0.128
Zijin Mining Group Co., Ltd. (2899 HK)
- Shares closed at a high since March above the 5dEMA.
- Both RSI and MACD are constructive.
- Long – Entry 38.0, Target 41.0, Stop 36.5
Lingbao Gold Group Co Ltd (3330 HK)
- Shares closed above the 20dEMA with rising volume.
- RSI is constructive and MACD turned positive.
- Long – Entry 24, Target 26, Stop 23
Terawulf Inc. (WULF)
- 1Q26 Revenue: $34.01M, -1.2% YoY, beat estimates by $1.29M
- 1Q26 GAAP EPS: -$1.01, miss estimates by $0.78
- 2Q26 Guidance: Expect EPS of -$0.24 and revenue of $48.2M.
- 3Q26 Guidance: Expect EPS of -$0.14 and revenue of $88.15M.
- FY26 Guidance: Reaffirmed growth strategy targeting 250-500 MW of new contracted capacity annually.
- Comment: TeraWulf reported a mixed first quarter as its transition from bitcoin mining to contracted high-performance computing infrastructure continued. Revenue came in at US$34.0mn, slightly below expectations, with HPC lease revenue contributing US$21.0mn as 60 MW of critical IT capacity for Core42 at Lake Mariner began generating recurring revenue. However, the company posted a much wider-than-expected EPS loss of US$1.01, mainly due to non-cash fair value adjustments, higher operating expenses and scaling costs tied to its HPC buildout. Despite the earnings miss, TeraWulf ended the quarter with a very strong liquidity position of about US$3.1bn in cash and restricted cash, expanded its development pipeline through the Hawesville site with 480 MW of grid-connected power, and remains on schedule for additional Lake Mariner capacity and the Abernathy joint venture later in 2026. Looking ahead, TeraWulf’s investment case increasingly depends on execution in HPC rather than bitcoin mining; if management can convert its large power-advantaged sites into long-term contracted data center revenue, the company could become a credible AI infrastructure platform, though near-term losses, heavy capital requirements and valuation volatility remain key risks. 2Q26 recommended trading range: $21 to $27. Neutral Outlook.
TeraWulf 公司 (WULF)
- 26财年第一季度营收：3401万美元，同比-1.2%，超出预期129万美元。
- 26财年第一季度GAAP每股收益：-1.01美元，低于预期0.78美元。
- 26财年第二季度指引：预计每股收益为-0.24美元，营收为4820万美元。
- 26财年第三季度指引：预计每股收益为-0.14美元，营收为8815万美元。
- 26财年指引：重申增长策略，目标为每年新增签约产能250–500兆瓦（MW）。
- 短评：TeraWulf公布的第一季度表现偏“冷热不均”，原因在于其从比特币挖矿转向合同式的高性能计算（HPC）基础设施的过渡仍在推进。公司实现营收3400万美元，略低于预期；其中HPC租赁收入贡献2100万美元，因为Lake Mariner项目开始为Core42提供60兆瓦的关键IT容量，并逐步产生经常性收入。不过，公司出现了远超预期的每股收益亏损1.01美元，主要由于非现金的公允价值调整、运营费用上升，以及与HPC建设规模扩张相关的成本。尽管业绩未达预期，TeraWulf仍在季度末维持了非常强的流动性，现金及受限现金约31亿美元；同时通过Hawesville站点扩展了开发管线，增加480兆瓦并网电力，并且预计在2026年下半年按计划推进Lake Mariner后续产能以及Abernathy合资项目。展望未来，TeraWulf的投资逻辑越来越依赖HPC执行，而不是比特币挖矿；如果管理层能把其凭借电力优势的项目，转化为长期合同的数据中心收入，公司有机会成为可信的AI基础设施平台。不过，短期仍可能出现亏损、资本需求较重，以及估值波动较大，都是需要重点关注的风险。26财年第二季度建议交易区间：21美元至27美元。中性前景。
