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Pigmonkey

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02-21

$FL2 CSOP HSCEI(07288)$

02-21

Time for HSI to perform after down almost for 2 years?

2023-03-08

Ok

@LMSunshine:I’m 🐻-ish For NIO As It Trades At Analysts’ Low🎯

2023-03-01

China stocks should be starting uptrend now?

2023-02-18

Ok

ASX Sectors Weekly Review｜Consumer Sectors Led the Gainers; “the Big Four Banks” Dragged the Financial Sector Down

2023-02-03

Ok

Amazon Stock Falls As Least Profitable Holiday Quarter Since 2014 Leads to Its Worst Annual Loss on Record

2023-02-02

Ok

Baidu Pops 13% As Blackrock Increases Stake in Chinese Tech Firm

2023-02-01

Ok

PayPal Joins Google, Intel, Microsoft, Amazon and Other Major Companies Laying off Thousands of People

2023-01-31

Ok

Most Hong Kong Stocks Decline As Traders Await More China Recovery Signals, Fed Policy Action

2023-01-30

Great one! Tiger platform is the best!

2023-01-30

Best platform

Such a wonderful platform to trade!

2023-01-29

Ok

Meta Earnings Preview: Reels, WhatsApp Gains in Focus; Metaverse Spending Extends

2023-01-28

Ok

The S&P 500 Is Nearing Its First "Golden Cross" in More Than 2 Years. What Does That Portend for Stocks?

2022-12-10

Ok

3 Growth Stocks That Could Be Huge Winners in the Next Decade and Beyond

2022-12-09

👌

Lululemon Drops 7% as Profitability, Sales Outlook Fall Short

2022-11-24

Ok

Latest Memo From Howard Marks: What Really Matters?

2022-11-23

Ok

Stocks Making the Biggest Moves After Hours: HP, Manchester United, Nordstrom, Autodesk and More

2022-11-22

Ok

Big Tech Stocks Dropped in Morning Trading

2022-11-22

Ok

Zoom Cuts Annual Revenue Forecast As Video-Conferencing Service Demand Wanes

2022-11-20

$American Airlines(AAL)$ Ok

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href=\"https://ttm.financial/S/07288\">$FL2 CSOP HSCEI(07288)$</a>&nbsp;","listText":"<a href=\"https://ttm.financial/S/07288\">$FL2 CSOP HSCEI(07288)$</a>&nbsp;","text":"$FL2 CSOP HSCEI(07288)$","images":[{"img":"https://community-static.tradeup.com/news/340e7baa18770eabba6751e66ed3e69f","width":"981","height":"1637"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/276450293014792","isVote":1,"tweetType":1,"viewCount":476,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":276449412747512,"gmtCreate":1708522721401,"gmtModify":1708522726436,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Time for HSI to perform after down almost for 2 years?&nbsp;","listText":"Time for HSI to perform after down almost for 2 years?&nbsp;","text":"Time for HSI to perform after down almost for 2 years?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/276449412747512","isVote":1,"tweetType":1,"viewCount":256,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9949029416,"gmtCreate":1678247185836,"gmtModify":1678247189283,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9949029416","repostId":"9940179781","repostType":1,"repost":{"id":9940179781,"gmtCreate":1677772559844,"gmtModify":1677772650656,"author":{"id":"4113904591642392","authorId":"4113904591642392","name":"LMSunshine","avatar":"https://community-static.tradeup.com/news/0ad636f2490d8428fcee9da6d669e46c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4113904591642392","authorIdStr":"4113904591642392"},"themes":[],"title":"I’m 🐻-ish For NIO As It Trades At Analysts’ Low🎯","htmlText":"I’m 🐻-ish after NIO’s Q4 earnings as: (1) NIO fell 9.4% on 1/3 (Wed) after an earnings miss on both revenue &amp; EPS &amp; the company’s outlook for Q1 sales &amp; deliveries fell short of expectations, while costs ramped higher👎👎 ➡️ A 9.4% drop means that investors have a very 🐻-ish POV…that means so should I as more sell-off would occur. ➡️ NIO said it expects to deliver between 31,000 &amp; 33,000 vehicles in the Q1 but NIO has already delivered 20,663 vehicles in Jan &amp; Feb. That means it’ll only be delivering 11,000-12,000 in March🫠🫠🫠 ➡️ Nio guided revenue of $1.584 million-$1.674 million. The midpoint of $1.629 billion is far below FactSet consensus of $2.505 billion🐻🐻🐻 (2) J.P. Morgan analyst downgraded NIO stock to Hold from Buy on 2/3 (Thu) &amp; ✂️ his price🎯 to $10 a share","listText":"I’m 🐻-ish after NIO’s Q4 earnings as: (1) NIO fell 9.4% on 1/3 (Wed) after an earnings miss on both revenue &amp; EPS &amp; the company’s outlook for Q1 sales &amp; deliveries fell short of expectations, while costs ramped higher👎👎 ➡️ A 9.4% drop means that investors have a very 🐻-ish POV…that means so should I as more sell-off would occur. ➡️ NIO said it expects to deliver between 31,000 &amp; 33,000 vehicles in the Q1 but NIO has already delivered 20,663 vehicles in Jan &amp; Feb. That means it’ll only be delivering 11,000-12,000 in March🫠🫠🫠 ➡️ Nio guided revenue of $1.584 million-$1.674 million. The midpoint of $1.629 billion is far below FactSet consensus of $2.505 billion🐻🐻🐻 (2) J.P. Morgan analyst downgraded NIO stock to Hold from Buy on 2/3 (Thu) &amp; ✂️ his price🎯 to $10 a share","text":"I’m 🐻-ish after NIO’s Q4 earnings as: (1) NIO fell 9.4% on 1/3 (Wed) after an earnings miss on both revenue & EPS & the company’s outlook for Q1 sales & deliveries fell short of expectations, while costs ramped higher👎👎 ➡️ A 9.4% drop means that investors have a very 🐻-ish POV…that means so should I as more sell-off would occur. ➡️ NIO said it expects to deliver between 31,000 & 33,000 vehicles in the Q1 but NIO has already delivered 20,663 vehicles in Jan & Feb. That means it’ll only be delivering 11,000-12,000 in March🫠🫠🫠 ➡️ Nio guided revenue of $1.584 million-$1.674 million. The midpoint of $1.629 billion is far below FactSet consensus of $2.505 billion🐻🐻🐻 (2) J.P. Morgan analyst downgraded NIO stock to Hold from Buy on 2/3 (Thu) & ✂️ his price🎯 to $10 a share","images":[{"img":"https://community-static.tradeup.com/news/3d0ebc136a0b29b1b28a0ade9f757b93","width":"1019","height":"563"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940179781","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":2,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":390,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9940953667,"gmtCreate":1677661714759,"gmtModify":1677661718384,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"China stocks should be starting uptrend now?&nbsp;","listText":"China stocks should be starting uptrend now?&nbsp;","text":"China stocks should be starting uptrend now?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940953667","isVote":1,"tweetType":1,"viewCount":300,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9954770376,"gmtCreate":1676682670296,"gmtModify":1676682674812,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9954770376","repostId":"1174614781","repostType":4,"repost":{"id":"1174614781","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"TigerNews AU","id":"1005367627","head_image":"https://community-static.tradeup.com/news/8855645baa8cbe42c269fdb9fb69b1eb"},"pubTimestamp":1676681020,"share":"https://ttm.financial/m/news/1174614781?lang=&edition=fundamental","pubTime":"2023-02-18 08:43","language":"en","title":"ASX Sectors Weekly Review｜Consumer Sectors Led the Gainers; “the Big Four Banks” Dragged the Financial Sector Down","url":"https://stock-news.laohu8.com/highlight/detail?id=1174614781","media":"TigerNews AU","summary":"ASX Market OverviewASX technology stocks tipped shares lower on Friday as the prospect of further mo","content":"<html><head></head><body><h2>ASX Market Overview</h2><p>ASX technology stocks tipped shares lower on Friday as the prospect of further monetary tightening in the US sent Wall Street’s growth darlings lower.</p><p>The S&amp;P/ASX 200 Index dropped 0.9 percent or 64 points to 7346 on Friday, sliding 1.17% this week.</p><p>4 of 11 sectors are higher this week. Consumer staples is the best-performing sector, gaining 1.99%; while financials is the worst-performing sector, sliding 4.82%.</p><h2><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8b8e7cf6fb4021da46f319ead5f1ee25\" tg-width=\"462\" tg-height=\"455\" referrerpolicy=\"no-referrer\"/><span>Source: Market Index</span></p>Weekly Winners</h2><p><b>Consumer Staples</b></p><p><b><a href=\"https://laohu8.com/S/A2M.AU\">A2 Milk</a></b> is one of the best gainers in this sector, gaining 3.65% this week. The company released an update on its quest for regulatory approval in China.</p><p>According to the release, its dairy processor partner, <b><a href=\"https://laohu8.com/S/SM1.AU\">Synlait Milk</a></b>, has announced that China’s Ministry for Primary Industries will commence an audit of the Dunsandel facility on behalf of China’s State Administration for Market Regulation (SAMR) next week.</p><p>Another thing to mention is that the company will release its financial results next Monday.UBS has a price target well ahead of the consensus at NZ$9.75 (A$8.87). This suggests that its shares could still rise 25% from current levels.</p><p><b>Telecommunication</b></p><p><b><a href=\"https://laohu8.com/S/TLS.AU\">TELSTRA CORPORATION LIMITED.</a></b>’s strong financial reports made its stock cheer up 3.44% and help the sector gain 0.95% this week. For the six months ended 31 December, <b><a href=\"https://laohu8.com/S/TLS.AU\">TELSTRA CORPORATION LIMITED.</a></b> reported a 6.4% increase in total income to $11.6 billion and an 11.4% jump in earnings before interest, tax, depreciation and amortisation (EBITDA) to $3.9 billion.</p><p>The company reaffirmed its FY 2023 guidance and suggested its total income would be at the low end of its $23 billion to $25 billion guidance.</p><p>Goldman currently has a buy rating and a $4.60 price target on Telstra’s shares.</p><p><b>Consumer Discretionary</b></p><p><b><a href=\"https://laohu8.com/S/GUD.AU\">GUD Holdings Ltd</a></b> is the biggest winner in ASX 200 stocks and surged 19.95% this week, while the sector gained 0.57%.</p><p>Its confidence-boosting half-yearly performance was carried by the company’s core automotive business, delivering another robust performance increasing earnings by 52% year-on-year to $93m, although the division’s earnings margins declined -230 basis points.</p><p>This performance was supported by both price increases and recent acquisitions, particularly the more recent AutoPacific Group (APG) acquisition. At a group level, earnings increased 53% year-on-year to $90m.</p><p>Credit Suisse has an Outperform rating and a target price of $13.90, but it highlighted the concerns around the lower cash conversion rate of 76%.</p><h2>Weekly Losers</h2><p><b>Financials</b></p><p><b><a href=\"https://laohu8.com/S/CBA.AU\">COMMONWEALTH BANK OF AUSTRAL</a></b>, <b><a href=\"https://laohu8.com/S/NAB.AU\">NATIONAL AUSTRALIA BANK LIMITED</a></b>, <b><a href=\"https://laohu8.com/S/WBC.AU\">WESTPAC BANKING CORPORATION</a></b> and <b><a href=\"https://laohu8.com/S/ANZ.AU\">AUST AND NZ BANKING GROUP</a></b> slid 8.17%,5.78%, 4.45%, 4.05% separately this week because of their financial results. Take <b><a href=\"https://laohu8.com/S/CBA.AU\">COMMONWEALTH BANK OF AUSTRAL</a></b> for example, for the six months ended 31 December, it delivered a 12% increase in operating income to $13,593 million and a 9% lift in cash earnings to $5,153 million.</p><p>Its board elected to increase its interim dividend by 20% year over year to a fully franked $2.10 per share. But the returns won’t stop there. The company has increased its ongoing share buyback by $1 billion, but it appeared to indicate that its net interest margin (NIM) has peaked well ahead of expectations.</p><p>JP Morgans reaffirmed its hold rating with a $96.11 price target.</p><p>However, not all the financial companies had a bad outcome this week, <b><a href=\"https://laohu8.com/S/QBE.AU\">QBE INSURANCE GROUP LIMITED</a></b> took the opposite way and gained 8.77% this week, it unveiled adjusted cash profits for the past year of $847 million, up from $805 million in the previous corresponding period. It also declared a final dividend of 30 cents per share, up from 19 cents in the previous corresponding period.</p><p><b>Energy</b></p><p><b><a href=\"https://laohu8.com/S/NCM.AU\">NEWCREST MINING LIMITED</a></b> slid 4.77% this week following the announcement of its 1H2023 results and an update on the takeover offer from US gold mining giant Newmont Corporation. Revenue came in at $2,121 million, increasing 24% from $1,715 million in 1H2022. Statutory Profit fell 2% to $293 million. However, its board has contemplated the indicative proposal and collectively decided to refuse the offer.</p><p>Meanwhile, ASX coal shares fall this week because of the NSW Government’s intended price cap and coal reservation policy, the policy will be in effect from 1 April 2023 until 30 June 2024 and will see producers forced to put aside a portion of production to sell to domestic power generators. <b><a href=\"https://laohu8.com/S/WHC.AU\">WHITEHAVEN COAL LTD</a></b> and <b><a href=\"https://laohu8.com/S/NHC.AU\">New Hope</a></b> fell over 2% this week.</p><p><b>Materials</b></p><p>Lithium stocks remained low and led the sector down, <b><a href=\"https://laohu8.com/S/PLS.AU\">Pilbara Minerals Ltd</a></b> was one of them which fell 7.11% this week. The company is scheduled to release its half-year results on 22 February.</p><p>Goldman Sachs expects it to post half-year revenue of $2,121 million, an underlying net profit after tax will be $1,211 million and 10 cents per share dividend will be offered.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ASX Sectors Weekly Review｜Consumer Sectors Led the Gainers; “the Big Four Banks” Dragged the Financial Sector Down</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nASX Sectors Weekly Review｜Consumer Sectors Led the Gainers; “the Big Four Banks” Dragged the Financial Sector Down\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1005367627\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/8855645baa8cbe42c269fdb9fb69b1eb);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">TigerNews AU </p>\n<p class=\"h-time\">2023-02-18 08:43</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><h2>ASX Market Overview</h2><p>ASX technology stocks tipped shares lower on Friday as the prospect of further monetary tightening in the US sent Wall Street’s growth darlings lower.</p><p>The S&amp;P/ASX 200 Index dropped 0.9 percent or 64 points to 7346 on Friday, sliding 1.17% this week.</p><p>4 of 11 sectors are higher this week. Consumer staples is the best-performing sector, gaining 1.99%; while financials is the worst-performing sector, sliding 4.82%.</p><h2><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8b8e7cf6fb4021da46f319ead5f1ee25\" tg-width=\"462\" tg-height=\"455\" referrerpolicy=\"no-referrer\"/><span>Source: Market Index</span></p>Weekly Winners</h2><p><b>Consumer Staples</b></p><p><b><a href=\"https://laohu8.com/S/A2M.AU\">A2 Milk</a></b> is one of the best gainers in this sector, gaining 3.65% this week. The company released an update on its quest for regulatory approval in China.</p><p>According to the release, its dairy processor partner, <b><a href=\"https://laohu8.com/S/SM1.AU\">Synlait Milk</a></b>, has announced that China’s Ministry for Primary Industries will commence an audit of the Dunsandel facility on behalf of China’s State Administration for Market Regulation (SAMR) next week.</p><p>Another thing to mention is that the company will release its financial results next Monday.UBS has a price target well ahead of the consensus at NZ$9.75 (A$8.87). This suggests that its shares could still rise 25% from current levels.</p><p><b>Telecommunication</b></p><p><b><a href=\"https://laohu8.com/S/TLS.AU\">TELSTRA CORPORATION LIMITED.</a></b>’s strong financial reports made its stock cheer up 3.44% and help the sector gain 0.95% this week. For the six months ended 31 December, <b><a href=\"https://laohu8.com/S/TLS.AU\">TELSTRA CORPORATION LIMITED.</a></b> reported a 6.4% increase in total income to $11.6 billion and an 11.4% jump in earnings before interest, tax, depreciation and amortisation (EBITDA) to $3.9 billion.</p><p>The company reaffirmed its FY 2023 guidance and suggested its total income would be at the low end of its $23 billion to $25 billion guidance.</p><p>Goldman currently has a buy rating and a $4.60 price target on Telstra’s shares.</p><p><b>Consumer Discretionary</b></p><p><b><a href=\"https://laohu8.com/S/GUD.AU\">GUD Holdings Ltd</a></b> is the biggest winner in ASX 200 stocks and surged 19.95% this week, while the sector gained 0.57%.</p><p>Its confidence-boosting half-yearly performance was carried by the company’s core automotive business, delivering another robust performance increasing earnings by 52% year-on-year to $93m, although the division’s earnings margins declined -230 basis points.</p><p>This performance was supported by both price increases and recent acquisitions, particularly the more recent AutoPacific Group (APG) acquisition. At a group level, earnings increased 53% year-on-year to $90m.</p><p>Credit Suisse has an Outperform rating and a target price of $13.90, but it highlighted the concerns around the lower cash conversion rate of 76%.</p><h2>Weekly Losers</h2><p><b>Financials</b></p><p><b><a href=\"https://laohu8.com/S/CBA.AU\">COMMONWEALTH BANK OF AUSTRAL</a></b>, <b><a href=\"https://laohu8.com/S/NAB.AU\">NATIONAL AUSTRALIA BANK LIMITED</a></b>, <b><a href=\"https://laohu8.com/S/WBC.AU\">WESTPAC BANKING CORPORATION</a></b> and <b><a href=\"https://laohu8.com/S/ANZ.AU\">AUST AND NZ BANKING GROUP</a></b> slid 8.17%,5.78%, 4.45%, 4.05% separately this week because of their financial results. Take <b><a href=\"https://laohu8.com/S/CBA.AU\">COMMONWEALTH BANK OF AUSTRAL</a></b> for example, for the six months ended 31 December, it delivered a 12% increase in operating income to $13,593 million and a 9% lift in cash earnings to $5,153 million.</p><p>Its board elected to increase its interim dividend by 20% year over year to a fully franked $2.10 per share. But the returns won’t stop there. The company has increased its ongoing share buyback by $1 billion, but it appeared to indicate that its net interest margin (NIM) has peaked well ahead of expectations.</p><p>JP Morgans reaffirmed its hold rating with a $96.11 price target.</p><p>However, not all the financial companies had a bad outcome this week, <b><a href=\"https://laohu8.com/S/QBE.AU\">QBE INSURANCE GROUP LIMITED</a></b> took the opposite way and gained 8.77% this week, it unveiled adjusted cash profits for the past year of $847 million, up from $805 million in the previous corresponding period. It also declared a final dividend of 30 cents per share, up from 19 cents in the previous corresponding period.</p><p><b>Energy</b></p><p><b><a href=\"https://laohu8.com/S/NCM.AU\">NEWCREST MINING LIMITED</a></b> slid 4.77% this week following the announcement of its 1H2023 results and an update on the takeover offer from US gold mining giant Newmont Corporation. Revenue came in at $2,121 million, increasing 24% from $1,715 million in 1H2022. Statutory Profit fell 2% to $293 million. However, its board has contemplated the indicative proposal and collectively decided to refuse the offer.</p><p>Meanwhile, ASX coal shares fall this week because of the NSW Government’s intended price cap and coal reservation policy, the policy will be in effect from 1 April 2023 until 30 June 2024 and will see producers forced to put aside a portion of production to sell to domestic power generators. <b><a href=\"https://laohu8.com/S/WHC.AU\">WHITEHAVEN COAL LTD</a></b> and <b><a href=\"https://laohu8.com/S/NHC.AU\">New Hope</a></b> fell over 2% this week.</p><p><b>Materials</b></p><p>Lithium stocks remained low and led the sector down, <b><a href=\"https://laohu8.com/S/PLS.AU\">Pilbara Minerals Ltd</a></b> was one of them which fell 7.11% this week. The company is scheduled to release its half-year results on 22 February.</p><p>Goldman Sachs expects it to post half-year revenue of $2,121 million, an underlying net profit after tax will be $1,211 million and 10 cents per share dividend will be offered.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"A2M.AU":"A2 MILK CO LTD","PLS.AU":"PILBARA MINERALS LTD","ANZ.AU":"ANZ GROUP HOLDINGS LTD","NCM.AU":"NEWCREST MINING LIMITED","NHC.AU":"NEW HOPE CORP LTD","WHC.AU":"WHITEHAVEN COAL LTD","CBA.AU":"COMMONWEALTH BANK OF AUSTRAL","XJO.AU":"标普/澳交所 200指数","QBE.AU":"QBE INSURANCE GROUP LTD","WBC.AU":"WESTPAC BANKING CORPORATION","NAB.AU":"NATIONAL AUSTRALIA BANK LTD","TLS.AU":"TELSTRA GROUP LTD"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174614781","content_text":"ASX Market OverviewASX technology stocks tipped shares lower on Friday as the prospect of further monetary tightening in the US sent Wall Street’s growth darlings lower.The S&P/ASX 200 Index dropped 0.9 percent or 64 points to 7346 on Friday, sliding 1.17% this week.4 of 11 sectors are higher this week. Consumer staples is the best-performing sector, gaining 1.99%; while financials is the worst-performing sector, sliding 4.82%.Source: Market IndexWeekly WinnersConsumer StaplesA2 Milk is one of the best gainers in this sector, gaining 3.65% this week. The company released an update on its quest for regulatory approval in China.According to the release, its dairy processor partner, Synlait Milk, has announced that China’s Ministry for Primary Industries will commence an audit of the Dunsandel facility on behalf of China’s State Administration for Market Regulation (SAMR) next week.Another thing to mention is that the company will release its financial results next Monday.UBS has a price target well ahead of the consensus at NZ$9.75 (A$8.87). This suggests that its shares could still rise 25% from current levels.TelecommunicationTELSTRA CORPORATION LIMITED.’s strong financial reports made its stock cheer up 3.44% and help the sector gain 0.95% this week. For the six months ended 31 December, TELSTRA CORPORATION LIMITED. reported a 6.4% increase in total income to $11.6 billion and an 11.4% jump in earnings before interest, tax, depreciation and amortisation (EBITDA) to $3.9 billion.The company reaffirmed its FY 2023 guidance and suggested its total income would be at the low end of its $23 billion to $25 billion guidance.Goldman currently has a buy rating and a $4.60 price target on Telstra’s shares.Consumer DiscretionaryGUD Holdings Ltd is the biggest winner in ASX 200 stocks and surged 19.95% this week, while the sector gained 0.57%.Its confidence-boosting half-yearly performance was carried by the company’s core automotive business, delivering another robust performance increasing earnings by 52% year-on-year to $93m, although the division’s earnings margins declined -230 basis points.This performance was supported by both price increases and recent acquisitions, particularly the more recent AutoPacific Group (APG) acquisition. At a group level, earnings increased 53% year-on-year to $90m.Credit Suisse has an Outperform rating and a target price of $13.90, but it highlighted the concerns around the lower cash conversion rate of 76%.Weekly LosersFinancialsCOMMONWEALTH BANK OF AUSTRAL, NATIONAL AUSTRALIA BANK LIMITED, WESTPAC BANKING CORPORATION and AUST AND NZ BANKING GROUP slid 8.17%,5.78%, 4.45%, 4.05% separately this week because of their financial results. Take COMMONWEALTH BANK OF AUSTRAL for example, for the six months ended 31 December, it delivered a 12% increase in operating income to $13,593 million and a 9% lift in cash earnings to $5,153 million.Its board elected to increase its interim dividend by 20% year over year to a fully franked $2.10 per share. But the returns won’t stop there. The company has increased its ongoing share buyback by $1 billion, but it appeared to indicate that its net interest margin (NIM) has peaked well ahead of expectations.JP Morgans reaffirmed its hold rating with a $96.11 price target.However, not all the financial companies had a bad outcome this week, QBE INSURANCE GROUP LIMITED took the opposite way and gained 8.77% this week, it unveiled adjusted cash profits for the past year of $847 million, up from $805 million in the previous corresponding period. It also declared a final dividend of 30 cents per share, up from 19 cents in the previous corresponding period.EnergyNEWCREST MINING LIMITED slid 4.77% this week following the announcement of its 1H2023 results and an update on the takeover offer from US gold mining giant Newmont Corporation. Revenue came in at $2,121 million, increasing 24% from $1,715 million in 1H2022. Statutory Profit fell 2% to $293 million. However, its board has contemplated the indicative proposal and collectively decided to refuse the offer.Meanwhile, ASX coal shares fall this week because of the NSW Government’s intended price cap and coal reservation policy, the policy will be in effect from 1 April 2023 until 30 June 2024 and will see producers forced to put aside a portion of production to sell to domestic power generators. WHITEHAVEN COAL LTD and New Hope fell over 2% this week.MaterialsLithium stocks remained low and led the sector down, Pilbara Minerals Ltd was one of them which fell 7.11% this week. The company is scheduled to release its half-year results on 22 February.Goldman Sachs expects it to post half-year revenue of $2,121 million, an underlying net profit after tax will be $1,211 million and 10 cents per share dividend will be offered.","news_type":1},"isVote":1,"tweetType":1,"viewCount":415,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9955689756,"gmtCreate":1675387801575,"gmtModify":1676538998352,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9955689756","repostId":"2308006819","repostType":4,"repost":{"id":"2308006819","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1675379793,"share":"https://ttm.financial/m/news/2308006819?lang=&edition=fundamental","pubTime":"2023-02-03 07:16","market":"us","language":"en","title":"Amazon Stock Falls As Least Profitable Holiday Quarter Since 2014 Leads to Its Worst Annual Loss on Record","url":"https://stock-news.laohu8.com/highlight/detail?id=2308006819","media":"Dow Jones","summary":"Amazon.com Inc. reported its least profitable holiday quarter since 2014 on Thursday, leading to the","content":"<html><head></head><body><p>Amazon.com Inc. reported its least profitable holiday quarter since 2014 on Thursday, leading to the biggest annual loss on record for the e-commerce giant, which also disappointed Wall Street with its forecast amid concerns about cloud growth.</p><p>Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> reported a holiday profit of $278 million, or 3 cents a share, down from $1.39 a share a year ago. Revenue increased to $149.2 billion from $137.41 billion a year ago. Analysts on average were expecting earnings of 17 cents a share on sales of $145.71 billion, according to FactSet.</p><p>Shares fell more than 3% in after-hours trading immediately following the release of the results, after closing with a 7.4% increase at $112.91.</p><p><img src=\"https://static.tigerbbs.com/464945004faba94e0c5265d40d53e5ee\" tg-width=\"833\" tg-height=\"842\" referrerpolicy=\"no-referrer\"/></p><p>&#34;In the short term, we face an uncertain economy, but we remain quite optimistic about the long-term opportunities for Amazon,&#34; Chief Executive Andy Jassy said in a statement.</p><p>Amazon was expected to post a loss for the whole year for the first time since 2014, but worse-than-expected holiday earnings actually led Amazon to the company&#39;s worst annual loss on record. For the year, Amazon produced a net loss of $2.7 billion and revenue of $513.98 billion, up from $469.82 billion a year ago and the company&#39;s first annual sales total to surpass a half-billion dollars. Amazon had never lost more than $1.4 billion in a single year since going public in 1997, according to FactSet records.</p><p>Amazon&#39;s fourth-quarter profit was hindered again by the decline of Rivian Automotive Inc. <a href=\"https://laohu8.com/S/RIVN\">$(RIVN)$</a> stock, which cost Amazon $2.3 billion in net income in the quarter. In addition, Amazon recognized many of the costs of its recently announced layoffs and other cost cuts in fourth-quarter results as well -- a $2.7 billion impairment charge included $640 million in severance charges related to layoffs and $720 million related to closures and impairment of physical stores, Chief Financial Officer Brian Olsavsky said in a call with reporters.</p><p>Amazon&#39;s ability to turn a profit in 2023 amid massive layoffs and other cost cuts will be the focus of Wall Street, and most of that turns on Amazon Web Services, or AWS. The cloud-computing offering has supplied the bulk of Amazon&#39;s profit in recent years, including 2022 -- for the year, AWS had operating profit of $22.84 billion, while the rest of the business produced an operating loss of $10.59 billion.</p><p>But cloud-computing growth has slowed, as Microsoft Corp. <a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a>displayed in its results and forecast last week, and Olsavsky confirmed the slowdown Thursday after AWS results missed expectations. He said that slowness in AWS he mentioned three months ago had continued through the fourth quarter, and while he did not provide any color about what executives were seeing this quarter or forecast beyond the first quarter, he did say he expected &#34;slower growth rates for the next few quarters&#34; for AWS.</p><p>In the fourth quarter, AWS produced operating income of $5.21 billion on revenue of $21.38 billion. Analysts on average were expecting profit of $5.73 billion on sales of $21.85 billion, according to FactSet.</p><p>Any slowdown in AWS would hit Amazon&#39;s bottom line as well as its overall top line, and executives&#39; forecast for the first quarter shows less optimism than Wall Street expected. Amazon&#39;s guidance calls for operating profit of break-even to $4 billion and revenue of $121 billion to $126 billion, while FactSet recorded an average analyst forecast of $4.04 billion in operating profit on sales of $125.09 billion.</p><p>Amazon&#39;s e-commerce business has struggled for growth amid the worst inflation in decades, with Olsavsky saying in a call with reporters that Amazon &#34;saw customers spend less on discretionary items... [while] continuing to spend on everyday essentials.&#34; Amazon recently announced it would start charging for grocery delivery for Prime members, which could increase revenue from sales of fresh food.</p><p>For more: Amazon Fresh to start charging Prime customers up to $10 for grocery deliveries</p><p>Amazon&#39;s domestic e-commerce business posted an operating loss of $240 million on sales of $93.36 billion, after a $206 million loss on sales of $82.36 billion in the holiday quarter of 2021. Olsavsky said cuts in the company&#39;s physical stores and device businesses would improve operating margins in North America.</p><p>Amazon&#39;s international efforts struggled more, with a sales decline and increasing losses, as Olsavsky said the U.K. and other parts of Europe showed slowdowns. Amazon reported an operating loss of $2.23 billion on revenue of $34.46 billion overseas, after a loss of $1.63 billion on sales of $37.27 billion a year ago.</p><p>One bright spot in Amazon&#39;s report was a record quarter for its advertising business, which has grown fast in recent years in a challenge to Alphabet Inc.&#39;s <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a>(GOOGL) Google and other online ad giants. Ads brought in $11.56 billion in the holiday quarter, growing nearly 19% from $9.71 billion a year ago and beating the analysts&#39; consensus.</p><p>Amazon stock has fallen more than 25% over the past 12 months, but has experienced a rebound so far in 2023, gaining more than 33% year to date. The S&amp;P 500 index  has declined 10.2% in the past year while gaining 7.3% since the calendar flipped to 2023.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon Stock Falls As Least Profitable Holiday Quarter Since 2014 Leads to Its Worst Annual Loss on Record</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmazon Stock Falls As Least Profitable Holiday Quarter Since 2014 Leads to Its Worst Annual Loss on Record\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2023-02-03 07:16</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Amazon.com Inc. reported its least profitable holiday quarter since 2014 on Thursday, leading to the biggest annual loss on record for the e-commerce giant, which also disappointed Wall Street with its forecast amid concerns about cloud growth.</p><p>Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> reported a holiday profit of $278 million, or 3 cents a share, down from $1.39 a share a year ago. Revenue increased to $149.2 billion from $137.41 billion a year ago. Analysts on average were expecting earnings of 17 cents a share on sales of $145.71 billion, according to FactSet.</p><p>Shares fell more than 3% in after-hours trading immediately following the release of the results, after closing with a 7.4% increase at $112.91.</p><p><img src=\"https://static.tigerbbs.com/464945004faba94e0c5265d40d53e5ee\" tg-width=\"833\" tg-height=\"842\" referrerpolicy=\"no-referrer\"/></p><p>&#34;In the short term, we face an uncertain economy, but we remain quite optimistic about the long-term opportunities for Amazon,&#34; Chief Executive Andy Jassy said in a statement.</p><p>Amazon was expected to post a loss for the whole year for the first time since 2014, but worse-than-expected holiday earnings actually led Amazon to the company&#39;s worst annual loss on record. For the year, Amazon produced a net loss of $2.7 billion and revenue of $513.98 billion, up from $469.82 billion a year ago and the company&#39;s first annual sales total to surpass a half-billion dollars. Amazon had never lost more than $1.4 billion in a single year since going public in 1997, according to FactSet records.</p><p>Amazon&#39;s fourth-quarter profit was hindered again by the decline of Rivian Automotive Inc. <a href=\"https://laohu8.com/S/RIVN\">$(RIVN)$</a> stock, which cost Amazon $2.3 billion in net income in the quarter. In addition, Amazon recognized many of the costs of its recently announced layoffs and other cost cuts in fourth-quarter results as well -- a $2.7 billion impairment charge included $640 million in severance charges related to layoffs and $720 million related to closures and impairment of physical stores, Chief Financial Officer Brian Olsavsky said in a call with reporters.</p><p>Amazon&#39;s ability to turn a profit in 2023 amid massive layoffs and other cost cuts will be the focus of Wall Street, and most of that turns on Amazon Web Services, or AWS. The cloud-computing offering has supplied the bulk of Amazon&#39;s profit in recent years, including 2022 -- for the year, AWS had operating profit of $22.84 billion, while the rest of the business produced an operating loss of $10.59 billion.</p><p>But cloud-computing growth has slowed, as Microsoft Corp. <a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a>displayed in its results and forecast last week, and Olsavsky confirmed the slowdown Thursday after AWS results missed expectations. He said that slowness in AWS he mentioned three months ago had continued through the fourth quarter, and while he did not provide any color about what executives were seeing this quarter or forecast beyond the first quarter, he did say he expected &#34;slower growth rates for the next few quarters&#34; for AWS.</p><p>In the fourth quarter, AWS produced operating income of $5.21 billion on revenue of $21.38 billion. Analysts on average were expecting profit of $5.73 billion on sales of $21.85 billion, according to FactSet.</p><p>Any slowdown in AWS would hit Amazon&#39;s bottom line as well as its overall top line, and executives&#39; forecast for the first quarter shows less optimism than Wall Street expected. Amazon&#39;s guidance calls for operating profit of break-even to $4 billion and revenue of $121 billion to $126 billion, while FactSet recorded an average analyst forecast of $4.04 billion in operating profit on sales of $125.09 billion.</p><p>Amazon&#39;s e-commerce business has struggled for growth amid the worst inflation in decades, with Olsavsky saying in a call with reporters that Amazon &#34;saw customers spend less on discretionary items... [while] continuing to spend on everyday essentials.&#34; Amazon recently announced it would start charging for grocery delivery for Prime members, which could increase revenue from sales of fresh food.</p><p>For more: Amazon Fresh to start charging Prime customers up to $10 for grocery deliveries</p><p>Amazon&#39;s domestic e-commerce business posted an operating loss of $240 million on sales of $93.36 billion, after a $206 million loss on sales of $82.36 billion in the holiday quarter of 2021. Olsavsky said cuts in the company&#39;s physical stores and device businesses would improve operating margins in North America.</p><p>Amazon&#39;s international efforts struggled more, with a sales decline and increasing losses, as Olsavsky said the U.K. and other parts of Europe showed slowdowns. Amazon reported an operating loss of $2.23 billion on revenue of $34.46 billion overseas, after a loss of $1.63 billion on sales of $37.27 billion a year ago.</p><p>One bright spot in Amazon&#39;s report was a record quarter for its advertising business, which has grown fast in recent years in a challenge to Alphabet Inc.&#39;s <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a>(GOOGL) Google and other online ad giants. Ads brought in $11.56 billion in the holiday quarter, growing nearly 19% from $9.71 billion a year ago and beating the analysts&#39; consensus.</p><p>Amazon stock has fallen more than 25% over the past 12 months, but has experienced a rebound so far in 2023, gaining more than 33% year to date. The S&amp;P 500 index  has declined 10.2% in the past year while gaining 7.3% since the calendar flipped to 2023.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4538":"云计算","LU0149725797.USD":"汇丰美国股市经济规模基金","BK4527":"明星科技股","BK4559":"巴菲特持仓","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU0289941410.SGD":"AB FCP I Dynamic Diversified AX SGD","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","BK4503":"景林资产持仓","BK4122":"互联网与直销零售","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","BK4551":"寇图资本持仓","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","LU0528227936.USD":"富达环球人口趋势基金A-ACC","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU0238689110.USD":"贝莱德环球动力股票基金","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","BK4581":"高盛持仓","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0079474960.USD":"联博美国增长基金A","LU0312595415.SGD":"Schroder ISF Global Climate Change Equity A Acc SGD","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","BK4548":"巴美列捷福持仓","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU0061474960.USD":"天利环球焦点基金AU Acc","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU0109392836.USD":"富兰克林科技股A","BK4532":"文艺复兴科技持仓","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","BK4507":"流媒体概念","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","BK4524":"宅经济概念","LU0097036916.USD":"贝莱德美国增长A2 USD","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","BK4566":"资本集团","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","BK4535":"淡马锡持仓"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2308006819","content_text":"Amazon.com Inc. reported its least profitable holiday quarter since 2014 on Thursday, leading to the biggest annual loss on record for the e-commerce giant, which also disappointed Wall Street with its forecast amid concerns about cloud growth.Amazon $(AMZN)$ reported a holiday profit of $278 million, or 3 cents a share, down from $1.39 a share a year ago. Revenue increased to $149.2 billion from $137.41 billion a year ago. Analysts on average were expecting earnings of 17 cents a share on sales of $145.71 billion, according to FactSet.Shares fell more than 3% in after-hours trading immediately following the release of the results, after closing with a 7.4% increase at $112.91.\"In the short term, we face an uncertain economy, but we remain quite optimistic about the long-term opportunities for Amazon,\" Chief Executive Andy Jassy said in a statement.Amazon was expected to post a loss for the whole year for the first time since 2014, but worse-than-expected holiday earnings actually led Amazon to the company's worst annual loss on record. For the year, Amazon produced a net loss of $2.7 billion and revenue of $513.98 billion, up from $469.82 billion a year ago and the company's first annual sales total to surpass a half-billion dollars. Amazon had never lost more than $1.4 billion in a single year since going public in 1997, according to FactSet records.Amazon's fourth-quarter profit was hindered again by the decline of Rivian Automotive Inc. $(RIVN)$ stock, which cost Amazon $2.3 billion in net income in the quarter. In addition, Amazon recognized many of the costs of its recently announced layoffs and other cost cuts in fourth-quarter results as well -- a $2.7 billion impairment charge included $640 million in severance charges related to layoffs and $720 million related to closures and impairment of physical stores, Chief Financial Officer Brian Olsavsky said in a call with reporters.Amazon's ability to turn a profit in 2023 amid massive layoffs and other cost cuts will be the focus of Wall Street, and most of that turns on Amazon Web Services, or AWS. The cloud-computing offering has supplied the bulk of Amazon's profit in recent years, including 2022 -- for the year, AWS had operating profit of $22.84 billion, while the rest of the business produced an operating loss of $10.59 billion.But cloud-computing growth has slowed, as Microsoft Corp. $(MSFT)$displayed in its results and forecast last week, and Olsavsky confirmed the slowdown Thursday after AWS results missed expectations. He said that slowness in AWS he mentioned three months ago had continued through the fourth quarter, and while he did not provide any color about what executives were seeing this quarter or forecast beyond the first quarter, he did say he expected \"slower growth rates for the next few quarters\" for AWS.In the fourth quarter, AWS produced operating income of $5.21 billion on revenue of $21.38 billion. Analysts on average were expecting profit of $5.73 billion on sales of $21.85 billion, according to FactSet.Any slowdown in AWS would hit Amazon's bottom line as well as its overall top line, and executives' forecast for the first quarter shows less optimism than Wall Street expected. Amazon's guidance calls for operating profit of break-even to $4 billion and revenue of $121 billion to $126 billion, while FactSet recorded an average analyst forecast of $4.04 billion in operating profit on sales of $125.09 billion.Amazon's e-commerce business has struggled for growth amid the worst inflation in decades, with Olsavsky saying in a call with reporters that Amazon \"saw customers spend less on discretionary items... [while] continuing to spend on everyday essentials.\" Amazon recently announced it would start charging for grocery delivery for Prime members, which could increase revenue from sales of fresh food.For more: Amazon Fresh to start charging Prime customers up to $10 for grocery deliveriesAmazon's domestic e-commerce business posted an operating loss of $240 million on sales of $93.36 billion, after a $206 million loss on sales of $82.36 billion in the holiday quarter of 2021. Olsavsky said cuts in the company's physical stores and device businesses would improve operating margins in North America.Amazon's international efforts struggled more, with a sales decline and increasing losses, as Olsavsky said the U.K. and other parts of Europe showed slowdowns. Amazon reported an operating loss of $2.23 billion on revenue of $34.46 billion overseas, after a loss of $1.63 billion on sales of $37.27 billion a year ago.One bright spot in Amazon's report was a record quarter for its advertising business, which has grown fast in recent years in a challenge to Alphabet Inc.'s $(GOOGL)$(GOOGL) Google and other online ad giants. Ads brought in $11.56 billion in the holiday quarter, growing nearly 19% from $9.71 billion a year ago and beating the analysts' consensus.Amazon stock has fallen more than 25% over the past 12 months, but has experienced a rebound so far in 2023, gaining more than 33% year to date. The S&P 500 index  has declined 10.2% in the past year while gaining 7.3% since the calendar flipped to 2023.","news_type":1},"isVote":1,"tweetType":1,"viewCount":482,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9955171001,"gmtCreate":1675304182604,"gmtModify":1676538991148,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9955171001","repostId":"2308683630","repostType":4,"repost":{"id":"2308683630","pubTimestamp":1675296448,"share":"https://ttm.financial/m/news/2308683630?lang=&edition=fundamental","pubTime":"2023-02-02 08:07","market":"us","language":"en","title":"Baidu Pops 13% As Blackrock Increases Stake in Chinese Tech Firm","url":"https://stock-news.laohu8.com/highlight/detail?id=2308683630","media":"seekingalpha","summary":"Baidu (NASDAQ:BIDU) shares rose 13.05% on Wednesday as asset manager Blackrock (BLK) disclosed that ","content":"<html><head></head><body><p>Baidu (NASDAQ:BIDU) shares rose 13.05% on Wednesday as asset manager Blackrock (BLK) disclosed that it had increased its stake in the Chinese tech company.</p><p><img src=\"https://static.tigerbbs.com/9a2f42c1766f768b2de5372487a75d98\" tg-width=\"811\" tg-height=\"842\" width=\"100%\" height=\"auto\"/></p><p>According to a 13-G filing, Blackrock (BLK), which has roughly $10T in assets under management, disclosed that it had raised its passive stake in the company to 6.6% as of the last quarter, up from a previous ownership stake of 3.5%.</p><p>Several other Chinese technology firms rose on back of the disclosure, including Alibaba (BABA), JD.com (JD) and Pinduoduo (PDD).</p><p>Last month, it was reported that Baidu (BIDU) is getting ready to unveil an artificial intelligence chatbot service similar to OpenAI’s ChatGPT.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Baidu Pops 13% As Blackrock Increases Stake in Chinese Tech Firm</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ 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}\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBaidu Pops 13% As Blackrock Increases Stake in Chinese Tech Firm\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-02-02 08:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3930416-baidu-pops-blackrock-increases-stake><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Baidu (NASDAQ:BIDU) shares rose 13.05% on Wednesday as asset manager Blackrock (BLK) disclosed that it had increased its stake in the Chinese tech company.According to a 13-G filing, Blackrock (BLK), ...</p>\n\n<a href=\"https://seekingalpha.com/news/3930416-baidu-pops-blackrock-increases-stake\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","QNETCN":"纳斯达克中美互联网老虎指数","BK4504":"桥水持仓","BK4135":"资产管理与托管银行","BK4548":"巴美列捷福持仓","BK4514":"搜索引擎","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","LU0173614495.USD":"富达中国焦点A","LU0640798160.USD":"EASTSPRING INVESTMENTS GLOBAL EMERGING MARKET DYNAMIC \"A\" (USD) ACC","LU1115378108.SGD":"Eastspring Investments - Global Emerging Markets Dynamic AS SGD","BK4531":"中概回港概念","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","BK4567":"ESG概念","BK4533":"AQR资本管理(全球第二大对冲基金)","BLK":"贝莱德","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","BIDU":"百度","LU0287142896.SGD":"Fidelity China Focus A-SGD","BK4535":"淡马锡持仓","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","BK4077":"互动媒体与服务","BK4579":"人工智能","BK4526":"热门中概股","BK4581":"高盛持仓","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","BK4552":"Archegos爆仓风波概念","BK4574":"无人驾驶"},"source_url":"https://seekingalpha.com/news/3930416-baidu-pops-blackrock-increases-stake","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2308683630","content_text":"Baidu (NASDAQ:BIDU) shares rose 13.05% on Wednesday as asset manager Blackrock (BLK) disclosed that it had increased its stake in the Chinese tech company.According to a 13-G filing, Blackrock (BLK), which has roughly $10T in assets under management, disclosed that it had raised its passive stake in the company to 6.6% as of the last quarter, up from a previous ownership stake of 3.5%.Several other Chinese technology firms rose on back of the disclosure, including Alibaba (BABA), JD.com (JD) and Pinduoduo (PDD).Last month, it was reported that Baidu (BIDU) is getting ready to unveil an artificial intelligence chatbot service similar to OpenAI’s ChatGPT.","news_type":1},"isVote":1,"tweetType":1,"viewCount":385,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9955387238,"gmtCreate":1675214836025,"gmtModify":1676538983836,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9955387238","repostId":"2308725096","repostType":4,"repost":{"id":"2308725096","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1675207928,"share":"https://ttm.financial/m/news/2308725096?lang=&edition=fundamental","pubTime":"2023-02-01 07:32","market":"us","language":"en","title":"PayPal Joins Google, Intel, Microsoft, Amazon and Other Major Companies Laying off Thousands of People","url":"https://stock-news.laohu8.com/highlight/detail?id=2308725096","media":"Dow Jones","summary":"PayPal has joined IBM, SAP, Spotify, Google parent Alphabet, Intel, Microsoft, Coinbase, Cisco, Amaz","content":"<html><head></head><body><p>PayPal has joined IBM, SAP, Spotify, Google parent Alphabet, Intel, Microsoft, Coinbase, Cisco, Amazon, Salesforce, HP,  Roku, Beyond Meat, Meta and Twitter in announcing major layoffs in recent months.</p><p>More than 75,000 global technology-sector employees have been laid off in the first few weeks of 2023 alone, according to data compiled by the website Layoffs.fyi.</p><p>Here&#39;s a look at the list of big names across a number of sectors that have been cutting back their workforces.</p><h2>PayPal</h2><p>PayPal Holdings Inc. (PYPL) is cutting its global workforce by approximately 2,000 full-time employees, or 7% of the company&#39;s total workforce. Chief Executive Dan Schulman announced the layoffs in an email to employees. &#34;These reductions will occur over the coming weeks, with some organizations impacted more than others,&#34; he wrote.</p><p>&#34;While we have made substantial progress in right-sizing our cost structure, and focused our resources on our core strategic priorities, we have more work to do,&#34; Schulman said in the email. &#34;We must continue to change as our world, our customers, and our competitive landscape evolve.&#34;</p><p>PayPal will continue to hire &#34;strategically&#34; this year, spokeswoman Amanda Miller told MarketWatch.</p><p>In August, PayPal announced a cost-cutting initiative, saying it was targeting at least $1.3 billion in cost savings during 2023.</p><h2>IBM</h2><p>International Business Machines Corp. <a href=\"https://laohu8.com/S/IBM\">$(IBM)$</a> is cutting 1% to 1.5% of its workforce. The cuts amount to about 3,900 employees, IBM Chief Financial Officer James Kavanaugh said in an interview with Bloomberg, which was the first to report the job cuts.</p><p>The layoffs were not mentioned on the conference call to discuss IBM&#39;s fourth-quarter results. A spokesman said the cuts were mostly related to a spinoff and the sale of IBM&#39;s Watson Health unit, resulting in a $300 million charge in the first quarter.</p><h2>SAP</h2><p>SAP (SAP.XE) is cutting almost 3,000 jobs amid a restructuring effort. When it announced its fourth-quarter results, the business-software maker said it is undertaking a &#34;targeted&#34; restructuring in 2023 focused on strategic growth areas and &#34;accelerated cloud transformation.&#34;</p><p>The restructuring program will affect some 2,800 employees. At the end of 2022, the Walldorf, Germany-based company had 111,961 employees globally.</p><h2>Lam Research</h2><p>Silicon Foundry-equipment supplier Lam Research Corp. <a href=\"https://laohu8.com/S/LRCX\">$(LRCX)$</a> said it will cut its global workforce by 7%, or 1,300 employees, by the end of March. The cuts do not include a separate reduction to Lam Research&#39;s &#34;temporary workforce&#34; that saw 700 people being let go at the end of December.</p><p>The cuts came as Lam Research reported its results for the quarter ending Dec. 22, 2022. &#34;Given the decline in wafer fabrication equipment spending expected in calendar year 2023, we are taking proactive steps to lower our cost structure and drive efficiencies across our global footprint, while preserving critical R&amp;D,&#34; said  CEO Tim Archer in a statement. &#34;With these actions, Lam is focused on accelerating our strategic priorities to capitalize on the semiconductor industry&#39;s long-term growth prospects.&#34;</p><h2>Spotify</h2><p>In a filing with the Securities and Exchange Commission, Spotify Technology <a href=\"https://laohu8.com/S/SPOT\">$(SPOT)$</a> said it is reducing its workforce by about 6%, which translates to about 588 jobs.</p><p>Bloomberg News originally reported that the streaming music service was planning job cuts. At the end of the third quarter, Spotify had 9,808 full-time employees globally.</p><p>The Stockholm-based company estimates that it will incur approximately EUR35 million to EUR45 million ($38.1 million to $48.9 million) in severance-related charges.</p><p>The job cuts come after Spotify slowed its pace of hiring last year. Last June, Spotify CEO Daniel Ek told employees that the company would reduce its hiring by 25%, according to Bloomberg and CNBC reports. Spotify laid off at least 38 employees at its Gimlet and Parcast podcast units in October.</p><p>In recent years, Spotify has spent massive amounts on podcasts, which has weighed on the company&#39;s margins. The podcast spending has yet to deliver profits, although last year Ek predicted a meaningful increase in profitability in the next couple of years.</p><p>In its SEC filing, Spotify said that, as part of a broader reorganization, the company&#39;s chief content and advertising business officer, Dawn Ostroff, will depart.</p><h2>Google</h2><p>Google parent Alphabet Inc. <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a>(GOOGL) has announced plans to cut approximately 12,000 jobs globally. In a blog post, Alphabet and Google CEO Sundar Pichai described the layoffs as &#34;a difficult decision to set us up for the future.&#34;</p><p>&#34;The fact that these changes will impact the lives of Googlers weighs heavily on me, and I take full responsibility for the decisions that led us here,&#34; he added.</p><p>Like a number of other tech giants that have made layoffs recently, such as Microsoft Corp. <a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a> and <a href=\"https://laohu8.com/S/META\">Meta Platforms</a> Inc. <a href=\"https://laohu8.com/S/META.UK\">$(META.UK)$</a>, Alphabet expanded to meet demand during the pandemic era but is now confronted with a different economic situation, Pichai said. &#34;Over the past two years we&#39;ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today.&#34;</p><p>At the end of September 2022, Alphabet had almost 187,000 employees, up from almost 164,000 employees at the end of March.</p><p>&#34;As an almost 25-year-old company, we&#39;re bound to go through difficult economic cycles,&#34; Pichai said. &#34;These are important moments to sharpen our focus, re-engineer our cost base, and direct our talent and capital to our highest priorities.&#34;</p><p>Echoing recent comments from Microsoft, Pichai also highlighted the importance of artificial intelligence. &#34;Being constrained in some areas allows us to bet big on others,&#34; he said. &#34;Pivoting the company to be AI-first years ago led to groundbreaking advances across our businesses and the whole industry.&#34;</p><p>The CEO said that the company is getting ready to share &#34;some entirely new experiences&#34; for users, developers and businesses. &#34;We have a substantial opportunity in front of us with AI across our products and are prepared to approach it boldly and responsibly,&#34; he added.</p><p>Last year, a report in The Information said that Google was considering cutting 10,000 jobs. The company may employ a ranking system that would eliminate the lowest-ranked &#34;poor-performing&#34; employees, the report said.</p><p>&#34;Earlier this year, we launched Googler Reviews and Development (GRAD) to help employee development, coaching, learning and career progression throughout the year,&#34; a Google spokesperson told MarketWatch in a statement at the time. &#34;The new system helps establish clear expectations and provide employees with regular feedback.&#34;</p><h2>Intel</h2><p>Intel Corp. <a href=\"https://laohu8.com/S/INTC\">$(INTC)$</a> is slashing hundreds of jobs in Silicon Valley. The cuts add to layoffs that began late last year as part of previously announced job cutting.</p><p>According to filings with California&#39;s Employment Development Department, the chipmaker is is cutting 201 jobs at its offices in Santa Clara, Calif., which is home to Intel&#39;s headquarters, effective Jan. 31. In late December Intel reported 90 job cuts, during which the company confirmed that it also has put some manufacturing employees on unpaid leave.</p><p>The tech giant is also adding to the 111 job cuts previously announced in Folsom, Calif., at a campus dedicated to research and development. There are now 176 layoffs effective Jan. 31, and an additional 167 job cuts effective March 15.</p><p>Intel also expects more layoffs will be detailed in future filings.</p><p>In October, Intel announced plans for job cuts as it reported its third-quarter results. The chip maker said it was focused on driving $3 billion in cost reductions in 2023. &#34;Inclusive in our efforts will be steps to optimize our headcount,&#34; Chief Executive Pat Gelsinger said during a conference call with analysts to discuss the third-quarter results.</p><p>The chipmaker had 121,000-plus employees worldwide at the end of 2021.</p><h2>Microsoft</h2><p>Microsoft Corp. <a href=\"https://laohu8.com/S/MSFT.UK\">$(MSFT.UK)$</a> joined other tech giants in the layoffs spotlight when the software maker confirmed plans to cut about 10,000 positions.</p><p>&#34;Today, we are making changes that will result in the reduction of our overall workforce by 10,000 jobs through the end of [the third quarter of fiscal year 2023],&#34; Microsoft CEO Satya Nadella wrote in a blog post on Jan. 18. &#34;This represents less than 5 percent of our total employee base, with some notifications happening today.&#34;</p><p>Microsoft, he said, is aligning its cost structure with its revenue and with where the company sees customer demand. Nadella wrote that while customers had accelerated their digital spending during the pandemic, they are now looking to &#34;optimize&#34; their digital spending to do more with less. &#34;We&#39;re also seeing organizations in every industry and geography exercise caution as some parts of the world are in a recession and other parts are anticipating one,&#34; he added.</p><p>The tech giant is taking a $1.2 billion charge in the second quarter related to severance costs, changes to its hardware portfolio and costs of lease consolidation as it creates higher density across its workspaces.</p><p>The layoffs did not come completely out of the blue. Earlier reports from Sky News and Bloomberg indicated that Microsoft was preparing to make cuts.</p><p>In the blog post, Nadella said that while Microsoft is eliminating roles in some areas, the company will continue to hire in key strategic areas. The CEO did not specify which areas will see hiring but did describe advances in artificial intelligence as &#34;the next major wave of computing.&#34;</p><h2>Coinbase</h2><p>Coinbase Global Inc. <a href=\"https://laohu8.com/S/COIN\">$(COIN)$</a>announced 950 job cuts in an attempt to cut costs.</p><p>&#34;In 2022, the crypto market trended downwards along with the broader macroeconomy,&#34; said Coinbase CEO Brian Armstrong, in a message to employees on Jan. 10.  &#34;We also saw the fallout from unscrupulous actors in the industry, and there could still be further contagion.&#34;</p><p>The crypto exchange said it will book charges of about $149 million to $163 million for the cuts, divided between about $58 million to $68 million in cash charge relating to severance and $91 million to $95 million in stock-based compensation charges relating to the vesting of outstanding equity awards.</p><p>The job cuts follow the company&#39;s announcement in June that it would lay off 18% of its employees.</p><h2>Cisco</h2><p>Cisco Systems Inc. <a href=\"https://laohu8.com/S/CSCO\">$(CSCO)$</a> has begun previously announced layoffs, cutting nearly 700 jobs in Silicon Valley in December, according to filings with the state of California in January.</p><p>The layoffs span a number of departments at the networking giant and extend across various positions, including software and hardware engineering, program management, product design and marketing. According to the state filings, the number of employees at the company&#39;s San Jose, Calif., headquarters who are affected totals 371, while 222 jobs are being cut in nearby Milpitas and 80 are being cut in Cisco&#39;s San Francisco office. The notices said employees were notified in early December and were given a choice of an effective termination date of either Feb. 1 or March 13.</p><p>In November, Cisco announced it was planning a &#34;limited business restructuring&#34; that will adjust the networking giant&#39;s real-estate portfolio and affect about 5% of its 80,000-strong global workforce, or some 4,000 people.</p><p>&#34;This is about rebalancing across the board,&#34; said Cisco Chief Financial Officer Scott Herren at the time, adding that as many jobs will be added as reduced.</p><p>&#34;Our goal is to minimize the number of people who end up having to leave,&#34; Herren told MarketWatch. &#34;We will match as many with new roles at the company as we can. This is not about reducing our workforce. In fact, we&#39;ll have roughly the same number of employees at the end of this fiscal year as we had when we started.&#34;</p><h2>Amazon</h2><p>Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> kicked off the New Year by confirming more than 18,000 job cuts, more than originally expected. &#34;Between the reductions we made in November and the ones we&#39;re sharing today, we plan to eliminate just over 18,000 roles,&#34; Amazon CEO Andy Jassy wrote in a letter to employees on Jan. 4. &#34;Several teams are impacted; however, the majority of role eliminations are in our Amazon Stores and PXT [People <a href=\"https://laohu8.com/S/EXP.AU\">Experience</a> and Technology Solutions] organizations.&#34;</p><p>&#34;Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so,&#34; Jassy added. &#34;These changes will help us pursue our long-term opportunities with a stronger cost structure; however, I&#39;m also optimistic that we&#39;ll be inventive, resourceful, and scrappy in this time when we&#39;re not hiring expansively and [are] eliminating some roles.&#34;</p><p>Amazon subsequently filed notices of more than 3,000 job cuts in  New York, California and the company&#39;s home state of Washington, as required by law.</p><p>Last year the e-commerce giant confirmed plans to lay off workers in its devices and services business.  At that time, The Wall Street Journal reported that Amazon could eventually cut about 10,000 jobs.</p><p>Analysts at Morgan Stanley are looking for Amazon and other tech companies to continue reining in costs.</p><h2>Salesforce</h2><p>Salesforce Inc. <a href=\"https://laohu8.com/S/CRM\">$(CRM)$</a> will lay off 10% of its workforce as part of a restructuring plan.</p><p>The San Francisco-based company announced the layoffs in a filing with the Securities and Exchange Commission on Jan. 4.  In addition to the job cuts, Salesforce plans to exit some real estate and reduce office space.</p><p>The restructuring plan is intended to reduce operating costs, improve operating margins and continue advancing Salesforce&#39;s commitment to &#34;profitable growth,&#34; the company said in the filing.</p><p>Salesforce estimates that it will incur approximately $1.4 billion to $2.1 billion in charges in connection with the restructuring plan, of which approximately $800 million to $1 billion is expected to be incurred in the fourth quarter of fiscal 2023.</p><p>Most of the layoffs will be made in the coming weeks, Salesforce CEO Marc Benioff said in a letter to employees that was also filed with the SEC.</p><p>The Salesforce chief said that the company grew too quickly for the current environment. &#34;I&#39;ve been thinking a lot about how we came to this moment,&#34; he wrote. &#34;As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we&#39;re now facing, and I take responsibility for that.&#34;</p><p>Last year, Salesforce laid off hundreds of employees from its sales team, according to news reports, as the tech sector as a whole wrestled with a challenging economic environment.  &#34;Our sales performance process drives accountability,&#34; said a Salesforce spokesperson in a statement emailed to MarketWatch in November. &#34;Unfortunately, that can lead to some leaving the business, and we support them through their transition.&#34;</p><p>As of February 2022, the company, which provides customer-relationship-management software, had over 78,000 employees globally.</p><h2>HP</h2><p>In November, HP Inc. <a href=\"https://laohu8.com/S/HPQ\">$(HPQ)$</a> executives announced plans to cut up to 10% of the company&#39;s workforce amid what CEO Enrique Lores described as &#34;a volatile macro environment and softening demand in the second half, with a slowdown on the commercial side.&#34;</p><p>&#34;Companies are delaying their refresh [sales] cycle,&#34; Lores told MarketWatch in an interview ahead of the public release of the company&#39;s fourth-quarter results.</p><p>HP is launching a three-year workforce-reduction plan meant to shed 4,000 to 6,000 jobs, according to Lores, with more than half of the roughly $1 billion in restructuring costs expected to be realized in the new fiscal year.</p><h2>Roku</h2><p><a href=\"https://laohu8.com/S/ROKU\">Roku Inc</a>. (ROKU)announced in November that it would cut about 5% of its workforce amid a challenging advertising landscape.</p><p>&#34;Due to the current economic conditions in our industry, we have made the difficult decision to reduce Roku&#39;s headcount expenses by a projected 5%, to slow down our [operating-expense] growth rate,&#34; the company said in a brief statement, noting that about 200 positions in the U.S. would be affected. &#34;Taking these actions now will allow us to focus our investments on key strategic priorities to drive future growth and enhance our leadership position,&#34; the statement said.</p><p>In a filing with the Securities and Exchange Commission, Roku said it anticipated charges of about $28 million to $31 million related to the job cuts, mainly stemming from severance payments, notice pay, employee benefits and other costs. The company expected to take the bulk of those charges in the fourth quarter of 2022. Implementation of the workforce reductions will be mostly complete by the end of the first quarter of 2023, it said.</p><h2>Kaltura</h2><p>Video software company Kaltura Inc. <a href=\"https://laohu8.com/S/KLTR\">$(KLTR)$</a> said Jan. 4 it&#39;s planning to reduce its workforce by about 11%.</p><p>In a filing with the Securities and Exchange Commission, Kaltura said its reorganization plan aims to increase efficiency and productivity in response to the current macroeconomic climate. &#34;The plan&#39;s main objectives are to position the company for lower demand, spend, and available budgets across the company&#39;s market segments, align the company&#39;s business strategy in light of these market conditions and support the company&#39;s growth initiatives and return path to profitability,&#34; it said.</p><p>On an annualized basis, the total cost reduction from Kaltura&#39;s downsizing is expected to be approximately $16 million.</p><p>The New York-based company will initially book pretax charges of approximately $1 million, primarily for severance and related costs, all of which are expected to be expensed in the first quarter of 2023. The reorganization plan is expected to be &#34;substantially completed&#34; in the first half of 2023, according to the SEC filing.</p><h2>RingCentral</h2><p>RingCentral Inc. <a href=\"https://laohu8.com/S/RNG\">$(RNG)$</a> joined the list of tech companies making layoffs with the November announcement of a plan to cut 10% of its workforce as part of a broader push to cut costs amid a deteriorating economic environment. The cloud-based communications company&#39;s stock jumped on news of the layoffs and of RingCentral&#39;s third-quarter earnings, which beat analysts&#39; expectations.</p><p>In October, RingCentral was added to the list of &#34;zombie&#34; stocks compiled by equity research firm New Constructs.</p><p>New Constructs, which uses machine learning and natural language processing to parse corporate filings and model economic earnings, described RingCentral as a &#34;cash incinerator&#34; at risk of declining to $0 per share.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PayPal Joins Google, Intel, Microsoft, Amazon and Other Major Companies Laying off Thousands of People</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPayPal Joins Google, Intel, Microsoft, Amazon and Other Major Companies Laying off Thousands of People\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2023-02-01 07:32</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>PayPal has joined IBM, SAP, Spotify, Google parent Alphabet, Intel, Microsoft, Coinbase, Cisco, Amazon, Salesforce, HP,  Roku, Beyond Meat, Meta and Twitter in announcing major layoffs in recent months.</p><p>More than 75,000 global technology-sector employees have been laid off in the first few weeks of 2023 alone, according to data compiled by the website Layoffs.fyi.</p><p>Here&#39;s a look at the list of big names across a number of sectors that have been cutting back their workforces.</p><h2>PayPal</h2><p>PayPal Holdings Inc. (PYPL) is cutting its global workforce by approximately 2,000 full-time employees, or 7% of the company&#39;s total workforce. Chief Executive Dan Schulman announced the layoffs in an email to employees. &#34;These reductions will occur over the coming weeks, with some organizations impacted more than others,&#34; he wrote.</p><p>&#34;While we have made substantial progress in right-sizing our cost structure, and focused our resources on our core strategic priorities, we have more work to do,&#34; Schulman said in the email. &#34;We must continue to change as our world, our customers, and our competitive landscape evolve.&#34;</p><p>PayPal will continue to hire &#34;strategically&#34; this year, spokeswoman Amanda Miller told MarketWatch.</p><p>In August, PayPal announced a cost-cutting initiative, saying it was targeting at least $1.3 billion in cost savings during 2023.</p><h2>IBM</h2><p>International Business Machines Corp. <a href=\"https://laohu8.com/S/IBM\">$(IBM)$</a> is cutting 1% to 1.5% of its workforce. The cuts amount to about 3,900 employees, IBM Chief Financial Officer James Kavanaugh said in an interview with Bloomberg, which was the first to report the job cuts.</p><p>The layoffs were not mentioned on the conference call to discuss IBM&#39;s fourth-quarter results. A spokesman said the cuts were mostly related to a spinoff and the sale of IBM&#39;s Watson Health unit, resulting in a $300 million charge in the first quarter.</p><h2>SAP</h2><p>SAP (SAP.XE) is cutting almost 3,000 jobs amid a restructuring effort. When it announced its fourth-quarter results, the business-software maker said it is undertaking a &#34;targeted&#34; restructuring in 2023 focused on strategic growth areas and &#34;accelerated cloud transformation.&#34;</p><p>The restructuring program will affect some 2,800 employees. At the end of 2022, the Walldorf, Germany-based company had 111,961 employees globally.</p><h2>Lam Research</h2><p>Silicon Foundry-equipment supplier Lam Research Corp. <a href=\"https://laohu8.com/S/LRCX\">$(LRCX)$</a> said it will cut its global workforce by 7%, or 1,300 employees, by the end of March. The cuts do not include a separate reduction to Lam Research&#39;s &#34;temporary workforce&#34; that saw 700 people being let go at the end of December.</p><p>The cuts came as Lam Research reported its results for the quarter ending Dec. 22, 2022. &#34;Given the decline in wafer fabrication equipment spending expected in calendar year 2023, we are taking proactive steps to lower our cost structure and drive efficiencies across our global footprint, while preserving critical R&amp;D,&#34; said  CEO Tim Archer in a statement. &#34;With these actions, Lam is focused on accelerating our strategic priorities to capitalize on the semiconductor industry&#39;s long-term growth prospects.&#34;</p><h2>Spotify</h2><p>In a filing with the Securities and Exchange Commission, Spotify Technology <a href=\"https://laohu8.com/S/SPOT\">$(SPOT)$</a> said it is reducing its workforce by about 6%, which translates to about 588 jobs.</p><p>Bloomberg News originally reported that the streaming music service was planning job cuts. At the end of the third quarter, Spotify had 9,808 full-time employees globally.</p><p>The Stockholm-based company estimates that it will incur approximately EUR35 million to EUR45 million ($38.1 million to $48.9 million) in severance-related charges.</p><p>The job cuts come after Spotify slowed its pace of hiring last year. Last June, Spotify CEO Daniel Ek told employees that the company would reduce its hiring by 25%, according to Bloomberg and CNBC reports. Spotify laid off at least 38 employees at its Gimlet and Parcast podcast units in October.</p><p>In recent years, Spotify has spent massive amounts on podcasts, which has weighed on the company&#39;s margins. The podcast spending has yet to deliver profits, although last year Ek predicted a meaningful increase in profitability in the next couple of years.</p><p>In its SEC filing, Spotify said that, as part of a broader reorganization, the company&#39;s chief content and advertising business officer, Dawn Ostroff, will depart.</p><h2>Google</h2><p>Google parent Alphabet Inc. <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a>(GOOGL) has announced plans to cut approximately 12,000 jobs globally. In a blog post, Alphabet and Google CEO Sundar Pichai described the layoffs as &#34;a difficult decision to set us up for the future.&#34;</p><p>&#34;The fact that these changes will impact the lives of Googlers weighs heavily on me, and I take full responsibility for the decisions that led us here,&#34; he added.</p><p>Like a number of other tech giants that have made layoffs recently, such as Microsoft Corp. <a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a> and <a href=\"https://laohu8.com/S/META\">Meta Platforms</a> Inc. <a href=\"https://laohu8.com/S/META.UK\">$(META.UK)$</a>, Alphabet expanded to meet demand during the pandemic era but is now confronted with a different economic situation, Pichai said. &#34;Over the past two years we&#39;ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today.&#34;</p><p>At the end of September 2022, Alphabet had almost 187,000 employees, up from almost 164,000 employees at the end of March.</p><p>&#34;As an almost 25-year-old company, we&#39;re bound to go through difficult economic cycles,&#34; Pichai said. &#34;These are important moments to sharpen our focus, re-engineer our cost base, and direct our talent and capital to our highest priorities.&#34;</p><p>Echoing recent comments from Microsoft, Pichai also highlighted the importance of artificial intelligence. &#34;Being constrained in some areas allows us to bet big on others,&#34; he said. &#34;Pivoting the company to be AI-first years ago led to groundbreaking advances across our businesses and the whole industry.&#34;</p><p>The CEO said that the company is getting ready to share &#34;some entirely new experiences&#34; for users, developers and businesses. &#34;We have a substantial opportunity in front of us with AI across our products and are prepared to approach it boldly and responsibly,&#34; he added.</p><p>Last year, a report in The Information said that Google was considering cutting 10,000 jobs. The company may employ a ranking system that would eliminate the lowest-ranked &#34;poor-performing&#34; employees, the report said.</p><p>&#34;Earlier this year, we launched Googler Reviews and Development (GRAD) to help employee development, coaching, learning and career progression throughout the year,&#34; a Google spokesperson told MarketWatch in a statement at the time. &#34;The new system helps establish clear expectations and provide employees with regular feedback.&#34;</p><h2>Intel</h2><p>Intel Corp. <a href=\"https://laohu8.com/S/INTC\">$(INTC)$</a> is slashing hundreds of jobs in Silicon Valley. The cuts add to layoffs that began late last year as part of previously announced job cutting.</p><p>According to filings with California&#39;s Employment Development Department, the chipmaker is is cutting 201 jobs at its offices in Santa Clara, Calif., which is home to Intel&#39;s headquarters, effective Jan. 31. In late December Intel reported 90 job cuts, during which the company confirmed that it also has put some manufacturing employees on unpaid leave.</p><p>The tech giant is also adding to the 111 job cuts previously announced in Folsom, Calif., at a campus dedicated to research and development. There are now 176 layoffs effective Jan. 31, and an additional 167 job cuts effective March 15.</p><p>Intel also expects more layoffs will be detailed in future filings.</p><p>In October, Intel announced plans for job cuts as it reported its third-quarter results. The chip maker said it was focused on driving $3 billion in cost reductions in 2023. &#34;Inclusive in our efforts will be steps to optimize our headcount,&#34; Chief Executive Pat Gelsinger said during a conference call with analysts to discuss the third-quarter results.</p><p>The chipmaker had 121,000-plus employees worldwide at the end of 2021.</p><h2>Microsoft</h2><p>Microsoft Corp. <a href=\"https://laohu8.com/S/MSFT.UK\">$(MSFT.UK)$</a> joined other tech giants in the layoffs spotlight when the software maker confirmed plans to cut about 10,000 positions.</p><p>&#34;Today, we are making changes that will result in the reduction of our overall workforce by 10,000 jobs through the end of [the third quarter of fiscal year 2023],&#34; Microsoft CEO Satya Nadella wrote in a blog post on Jan. 18. &#34;This represents less than 5 percent of our total employee base, with some notifications happening today.&#34;</p><p>Microsoft, he said, is aligning its cost structure with its revenue and with where the company sees customer demand. Nadella wrote that while customers had accelerated their digital spending during the pandemic, they are now looking to &#34;optimize&#34; their digital spending to do more with less. &#34;We&#39;re also seeing organizations in every industry and geography exercise caution as some parts of the world are in a recession and other parts are anticipating one,&#34; he added.</p><p>The tech giant is taking a $1.2 billion charge in the second quarter related to severance costs, changes to its hardware portfolio and costs of lease consolidation as it creates higher density across its workspaces.</p><p>The layoffs did not come completely out of the blue. Earlier reports from Sky News and Bloomberg indicated that Microsoft was preparing to make cuts.</p><p>In the blog post, Nadella said that while Microsoft is eliminating roles in some areas, the company will continue to hire in key strategic areas. The CEO did not specify which areas will see hiring but did describe advances in artificial intelligence as &#34;the next major wave of computing.&#34;</p><h2>Coinbase</h2><p>Coinbase Global Inc. <a href=\"https://laohu8.com/S/COIN\">$(COIN)$</a>announced 950 job cuts in an attempt to cut costs.</p><p>&#34;In 2022, the crypto market trended downwards along with the broader macroeconomy,&#34; said Coinbase CEO Brian Armstrong, in a message to employees on Jan. 10.  &#34;We also saw the fallout from unscrupulous actors in the industry, and there could still be further contagion.&#34;</p><p>The crypto exchange said it will book charges of about $149 million to $163 million for the cuts, divided between about $58 million to $68 million in cash charge relating to severance and $91 million to $95 million in stock-based compensation charges relating to the vesting of outstanding equity awards.</p><p>The job cuts follow the company&#39;s announcement in June that it would lay off 18% of its employees.</p><h2>Cisco</h2><p>Cisco Systems Inc. <a href=\"https://laohu8.com/S/CSCO\">$(CSCO)$</a> has begun previously announced layoffs, cutting nearly 700 jobs in Silicon Valley in December, according to filings with the state of California in January.</p><p>The layoffs span a number of departments at the networking giant and extend across various positions, including software and hardware engineering, program management, product design and marketing. According to the state filings, the number of employees at the company&#39;s San Jose, Calif., headquarters who are affected totals 371, while 222 jobs are being cut in nearby Milpitas and 80 are being cut in Cisco&#39;s San Francisco office. The notices said employees were notified in early December and were given a choice of an effective termination date of either Feb. 1 or March 13.</p><p>In November, Cisco announced it was planning a &#34;limited business restructuring&#34; that will adjust the networking giant&#39;s real-estate portfolio and affect about 5% of its 80,000-strong global workforce, or some 4,000 people.</p><p>&#34;This is about rebalancing across the board,&#34; said Cisco Chief Financial Officer Scott Herren at the time, adding that as many jobs will be added as reduced.</p><p>&#34;Our goal is to minimize the number of people who end up having to leave,&#34; Herren told MarketWatch. &#34;We will match as many with new roles at the company as we can. This is not about reducing our workforce. In fact, we&#39;ll have roughly the same number of employees at the end of this fiscal year as we had when we started.&#34;</p><h2>Amazon</h2><p>Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> kicked off the New Year by confirming more than 18,000 job cuts, more than originally expected. &#34;Between the reductions we made in November and the ones we&#39;re sharing today, we plan to eliminate just over 18,000 roles,&#34; Amazon CEO Andy Jassy wrote in a letter to employees on Jan. 4. &#34;Several teams are impacted; however, the majority of role eliminations are in our Amazon Stores and PXT [People <a href=\"https://laohu8.com/S/EXP.AU\">Experience</a> and Technology Solutions] organizations.&#34;</p><p>&#34;Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so,&#34; Jassy added. &#34;These changes will help us pursue our long-term opportunities with a stronger cost structure; however, I&#39;m also optimistic that we&#39;ll be inventive, resourceful, and scrappy in this time when we&#39;re not hiring expansively and [are] eliminating some roles.&#34;</p><p>Amazon subsequently filed notices of more than 3,000 job cuts in  New York, California and the company&#39;s home state of Washington, as required by law.</p><p>Last year the e-commerce giant confirmed plans to lay off workers in its devices and services business.  At that time, The Wall Street Journal reported that Amazon could eventually cut about 10,000 jobs.</p><p>Analysts at Morgan Stanley are looking for Amazon and other tech companies to continue reining in costs.</p><h2>Salesforce</h2><p>Salesforce Inc. <a href=\"https://laohu8.com/S/CRM\">$(CRM)$</a> will lay off 10% of its workforce as part of a restructuring plan.</p><p>The San Francisco-based company announced the layoffs in a filing with the Securities and Exchange Commission on Jan. 4.  In addition to the job cuts, Salesforce plans to exit some real estate and reduce office space.</p><p>The restructuring plan is intended to reduce operating costs, improve operating margins and continue advancing Salesforce&#39;s commitment to &#34;profitable growth,&#34; the company said in the filing.</p><p>Salesforce estimates that it will incur approximately $1.4 billion to $2.1 billion in charges in connection with the restructuring plan, of which approximately $800 million to $1 billion is expected to be incurred in the fourth quarter of fiscal 2023.</p><p>Most of the layoffs will be made in the coming weeks, Salesforce CEO Marc Benioff said in a letter to employees that was also filed with the SEC.</p><p>The Salesforce chief said that the company grew too quickly for the current environment. &#34;I&#39;ve been thinking a lot about how we came to this moment,&#34; he wrote. &#34;As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we&#39;re now facing, and I take responsibility for that.&#34;</p><p>Last year, Salesforce laid off hundreds of employees from its sales team, according to news reports, as the tech sector as a whole wrestled with a challenging economic environment.  &#34;Our sales performance process drives accountability,&#34; said a Salesforce spokesperson in a statement emailed to MarketWatch in November. &#34;Unfortunately, that can lead to some leaving the business, and we support them through their transition.&#34;</p><p>As of February 2022, the company, which provides customer-relationship-management software, had over 78,000 employees globally.</p><h2>HP</h2><p>In November, HP Inc. <a href=\"https://laohu8.com/S/HPQ\">$(HPQ)$</a> executives announced plans to cut up to 10% of the company&#39;s workforce amid what CEO Enrique Lores described as &#34;a volatile macro environment and softening demand in the second half, with a slowdown on the commercial side.&#34;</p><p>&#34;Companies are delaying their refresh [sales] cycle,&#34; Lores told MarketWatch in an interview ahead of the public release of the company&#39;s fourth-quarter results.</p><p>HP is launching a three-year workforce-reduction plan meant to shed 4,000 to 6,000 jobs, according to Lores, with more than half of the roughly $1 billion in restructuring costs expected to be realized in the new fiscal year.</p><h2>Roku</h2><p><a href=\"https://laohu8.com/S/ROKU\">Roku Inc</a>. (ROKU)announced in November that it would cut about 5% of its workforce amid a challenging advertising landscape.</p><p>&#34;Due to the current economic conditions in our industry, we have made the difficult decision to reduce Roku&#39;s headcount expenses by a projected 5%, to slow down our [operating-expense] growth rate,&#34; the company said in a brief statement, noting that about 200 positions in the U.S. would be affected. &#34;Taking these actions now will allow us to focus our investments on key strategic priorities to drive future growth and enhance our leadership position,&#34; the statement said.</p><p>In a filing with the Securities and Exchange Commission, Roku said it anticipated charges of about $28 million to $31 million related to the job cuts, mainly stemming from severance payments, notice pay, employee benefits and other costs. The company expected to take the bulk of those charges in the fourth quarter of 2022. Implementation of the workforce reductions will be mostly complete by the end of the first quarter of 2023, it said.</p><h2>Kaltura</h2><p>Video software company Kaltura Inc. <a href=\"https://laohu8.com/S/KLTR\">$(KLTR)$</a> said Jan. 4 it&#39;s planning to reduce its workforce by about 11%.</p><p>In a filing with the Securities and Exchange Commission, Kaltura said its reorganization plan aims to increase efficiency and productivity in response to the current macroeconomic climate. &#34;The plan&#39;s main objectives are to position the company for lower demand, spend, and available budgets across the company&#39;s market segments, align the company&#39;s business strategy in light of these market conditions and support the company&#39;s growth initiatives and return path to profitability,&#34; it said.</p><p>On an annualized basis, the total cost reduction from Kaltura&#39;s downsizing is expected to be approximately $16 million.</p><p>The New York-based company will initially book pretax charges of approximately $1 million, primarily for severance and related costs, all of which are expected to be expensed in the first quarter of 2023. The reorganization plan is expected to be &#34;substantially completed&#34; in the first half of 2023, according to the SEC filing.</p><h2>RingCentral</h2><p>RingCentral Inc. <a href=\"https://laohu8.com/S/RNG\">$(RNG)$</a> joined the list of tech companies making layoffs with the November announcement of a plan to cut 10% of its workforce as part of a broader push to cut costs amid a deteriorating economic environment. The cloud-based communications company&#39;s stock jumped on news of the layoffs and of RingCentral&#39;s third-quarter earnings, which beat analysts&#39; expectations.</p><p>In October, RingCentral was added to the list of &#34;zombie&#34; stocks compiled by equity research firm New Constructs.</p><p>New Constructs, which uses machine learning and natural language processing to parse corporate filings and model economic earnings, described RingCentral as a &#34;cash incinerator&#34; at risk of declining to $0 per share.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOG":"谷歌","BK4505":"高瓴资本持仓","BK4512":"苹果概念","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","ADBE":"Adobe","BK4170":"电脑硬件、储存设备及电脑周边","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","META":"Meta Platforms, Inc.","LU1548497426.USD":"安联环球人工智能AT Acc","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","BK4532":"文艺复兴科技持仓","SAP":"SAP SE","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU1201861165.SGD":"Natixis Harris Associates Global Equity PA SGD","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","SG9999014906.USD":"大华全球优质成长基金Acc USD","LU1815333072.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"AUP\" (USD) INC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4567":"ESG概念","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","BK4507":"流媒体概念","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","BK4525":"远程办公概念","PYPL":"PayPal","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","SGXZ99366536.SGD":"United Global Innovation A Acc SGD-H","BK4508":"社交媒体","RNG":"Ringcentral Inc.","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","BK4116":"互联网服务与基础架构","LU0061474960.USD":"天利环球焦点基金AU Acc","BK4503":"景林资产持仓","SGXZ51526630.SGD":"大华环球创新基金A Acc SGD","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2308725096","content_text":"PayPal has joined IBM, SAP, Spotify, Google parent Alphabet, Intel, Microsoft, Coinbase, Cisco, Amazon, Salesforce, HP,  Roku, Beyond Meat, Meta and Twitter in announcing major layoffs in recent months.More than 75,000 global technology-sector employees have been laid off in the first few weeks of 2023 alone, according to data compiled by the website Layoffs.fyi.Here's a look at the list of big names across a number of sectors that have been cutting back their workforces.PayPalPayPal Holdings Inc. (PYPL) is cutting its global workforce by approximately 2,000 full-time employees, or 7% of the company's total workforce. Chief Executive Dan Schulman announced the layoffs in an email to employees. \"These reductions will occur over the coming weeks, with some organizations impacted more than others,\" he wrote.\"While we have made substantial progress in right-sizing our cost structure, and focused our resources on our core strategic priorities, we have more work to do,\" Schulman said in the email. \"We must continue to change as our world, our customers, and our competitive landscape evolve.\"PayPal will continue to hire \"strategically\" this year, spokeswoman Amanda Miller told MarketWatch.In August, PayPal announced a cost-cutting initiative, saying it was targeting at least $1.3 billion in cost savings during 2023.IBMInternational Business Machines Corp. $(IBM)$ is cutting 1% to 1.5% of its workforce. The cuts amount to about 3,900 employees, IBM Chief Financial Officer James Kavanaugh said in an interview with Bloomberg, which was the first to report the job cuts.The layoffs were not mentioned on the conference call to discuss IBM's fourth-quarter results. A spokesman said the cuts were mostly related to a spinoff and the sale of IBM's Watson Health unit, resulting in a $300 million charge in the first quarter.SAPSAP (SAP.XE) is cutting almost 3,000 jobs amid a restructuring effort. When it announced its fourth-quarter results, the business-software maker said it is undertaking a \"targeted\" restructuring in 2023 focused on strategic growth areas and \"accelerated cloud transformation.\"The restructuring program will affect some 2,800 employees. At the end of 2022, the Walldorf, Germany-based company had 111,961 employees globally.Lam ResearchSilicon Foundry-equipment supplier Lam Research Corp. $(LRCX)$ said it will cut its global workforce by 7%, or 1,300 employees, by the end of March. The cuts do not include a separate reduction to Lam Research's \"temporary workforce\" that saw 700 people being let go at the end of December.The cuts came as Lam Research reported its results for the quarter ending Dec. 22, 2022. \"Given the decline in wafer fabrication equipment spending expected in calendar year 2023, we are taking proactive steps to lower our cost structure and drive efficiencies across our global footprint, while preserving critical R&D,\" said  CEO Tim Archer in a statement. \"With these actions, Lam is focused on accelerating our strategic priorities to capitalize on the semiconductor industry's long-term growth prospects.\"SpotifyIn a filing with the Securities and Exchange Commission, Spotify Technology $(SPOT)$ said it is reducing its workforce by about 6%, which translates to about 588 jobs.Bloomberg News originally reported that the streaming music service was planning job cuts. At the end of the third quarter, Spotify had 9,808 full-time employees globally.The Stockholm-based company estimates that it will incur approximately EUR35 million to EUR45 million ($38.1 million to $48.9 million) in severance-related charges.The job cuts come after Spotify slowed its pace of hiring last year. Last June, Spotify CEO Daniel Ek told employees that the company would reduce its hiring by 25%, according to Bloomberg and CNBC reports. Spotify laid off at least 38 employees at its Gimlet and Parcast podcast units in October.In recent years, Spotify has spent massive amounts on podcasts, which has weighed on the company's margins. The podcast spending has yet to deliver profits, although last year Ek predicted a meaningful increase in profitability in the next couple of years.In its SEC filing, Spotify said that, as part of a broader reorganization, the company's chief content and advertising business officer, Dawn Ostroff, will depart.GoogleGoogle parent Alphabet Inc. $(GOOGL)$(GOOGL) has announced plans to cut approximately 12,000 jobs globally. In a blog post, Alphabet and Google CEO Sundar Pichai described the layoffs as \"a difficult decision to set us up for the future.\"\"The fact that these changes will impact the lives of Googlers weighs heavily on me, and I take full responsibility for the decisions that led us here,\" he added.Like a number of other tech giants that have made layoffs recently, such as Microsoft Corp. $(MSFT)$ and Meta Platforms Inc. $(META.UK)$, Alphabet expanded to meet demand during the pandemic era but is now confronted with a different economic situation, Pichai said. \"Over the past two years we've seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today.\"At the end of September 2022, Alphabet had almost 187,000 employees, up from almost 164,000 employees at the end of March.\"As an almost 25-year-old company, we're bound to go through difficult economic cycles,\" Pichai said. \"These are important moments to sharpen our focus, re-engineer our cost base, and direct our talent and capital to our highest priorities.\"Echoing recent comments from Microsoft, Pichai also highlighted the importance of artificial intelligence. \"Being constrained in some areas allows us to bet big on others,\" he said. \"Pivoting the company to be AI-first years ago led to groundbreaking advances across our businesses and the whole industry.\"The CEO said that the company is getting ready to share \"some entirely new experiences\" for users, developers and businesses. \"We have a substantial opportunity in front of us with AI across our products and are prepared to approach it boldly and responsibly,\" he added.Last year, a report in The Information said that Google was considering cutting 10,000 jobs. The company may employ a ranking system that would eliminate the lowest-ranked \"poor-performing\" employees, the report said.\"Earlier this year, we launched Googler Reviews and Development (GRAD) to help employee development, coaching, learning and career progression throughout the year,\" a Google spokesperson told MarketWatch in a statement at the time. \"The new system helps establish clear expectations and provide employees with regular feedback.\"IntelIntel Corp. $(INTC)$ is slashing hundreds of jobs in Silicon Valley. The cuts add to layoffs that began late last year as part of previously announced job cutting.According to filings with California's Employment Development Department, the chipmaker is is cutting 201 jobs at its offices in Santa Clara, Calif., which is home to Intel's headquarters, effective Jan. 31. In late December Intel reported 90 job cuts, during which the company confirmed that it also has put some manufacturing employees on unpaid leave.The tech giant is also adding to the 111 job cuts previously announced in Folsom, Calif., at a campus dedicated to research and development. There are now 176 layoffs effective Jan. 31, and an additional 167 job cuts effective March 15.Intel also expects more layoffs will be detailed in future filings.In October, Intel announced plans for job cuts as it reported its third-quarter results. The chip maker said it was focused on driving $3 billion in cost reductions in 2023. \"Inclusive in our efforts will be steps to optimize our headcount,\" Chief Executive Pat Gelsinger said during a conference call with analysts to discuss the third-quarter results.The chipmaker had 121,000-plus employees worldwide at the end of 2021.MicrosoftMicrosoft Corp. $(MSFT.UK)$ joined other tech giants in the layoffs spotlight when the software maker confirmed plans to cut about 10,000 positions.\"Today, we are making changes that will result in the reduction of our overall workforce by 10,000 jobs through the end of [the third quarter of fiscal year 2023],\" Microsoft CEO Satya Nadella wrote in a blog post on Jan. 18. \"This represents less than 5 percent of our total employee base, with some notifications happening today.\"Microsoft, he said, is aligning its cost structure with its revenue and with where the company sees customer demand. Nadella wrote that while customers had accelerated their digital spending during the pandemic, they are now looking to \"optimize\" their digital spending to do more with less. \"We're also seeing organizations in every industry and geography exercise caution as some parts of the world are in a recession and other parts are anticipating one,\" he added.The tech giant is taking a $1.2 billion charge in the second quarter related to severance costs, changes to its hardware portfolio and costs of lease consolidation as it creates higher density across its workspaces.The layoffs did not come completely out of the blue. Earlier reports from Sky News and Bloomberg indicated that Microsoft was preparing to make cuts.In the blog post, Nadella said that while Microsoft is eliminating roles in some areas, the company will continue to hire in key strategic areas. The CEO did not specify which areas will see hiring but did describe advances in artificial intelligence as \"the next major wave of computing.\"CoinbaseCoinbase Global Inc. $(COIN)$announced 950 job cuts in an attempt to cut costs.\"In 2022, the crypto market trended downwards along with the broader macroeconomy,\" said Coinbase CEO Brian Armstrong, in a message to employees on Jan. 10.  \"We also saw the fallout from unscrupulous actors in the industry, and there could still be further contagion.\"The crypto exchange said it will book charges of about $149 million to $163 million for the cuts, divided between about $58 million to $68 million in cash charge relating to severance and $91 million to $95 million in stock-based compensation charges relating to the vesting of outstanding equity awards.The job cuts follow the company's announcement in June that it would lay off 18% of its employees.CiscoCisco Systems Inc. $(CSCO)$ has begun previously announced layoffs, cutting nearly 700 jobs in Silicon Valley in December, according to filings with the state of California in January.The layoffs span a number of departments at the networking giant and extend across various positions, including software and hardware engineering, program management, product design and marketing. According to the state filings, the number of employees at the company's San Jose, Calif., headquarters who are affected totals 371, while 222 jobs are being cut in nearby Milpitas and 80 are being cut in Cisco's San Francisco office. The notices said employees were notified in early December and were given a choice of an effective termination date of either Feb. 1 or March 13.In November, Cisco announced it was planning a \"limited business restructuring\" that will adjust the networking giant's real-estate portfolio and affect about 5% of its 80,000-strong global workforce, or some 4,000 people.\"This is about rebalancing across the board,\" said Cisco Chief Financial Officer Scott Herren at the time, adding that as many jobs will be added as reduced.\"Our goal is to minimize the number of people who end up having to leave,\" Herren told MarketWatch. \"We will match as many with new roles at the company as we can. This is not about reducing our workforce. In fact, we'll have roughly the same number of employees at the end of this fiscal year as we had when we started.\"AmazonAmazon.com Inc. $(AMZN)$ kicked off the New Year by confirming more than 18,000 job cuts, more than originally expected. \"Between the reductions we made in November and the ones we're sharing today, we plan to eliminate just over 18,000 roles,\" Amazon CEO Andy Jassy wrote in a letter to employees on Jan. 4. \"Several teams are impacted; however, the majority of role eliminations are in our Amazon Stores and PXT [People Experience and Technology Solutions] organizations.\"\"Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so,\" Jassy added. \"These changes will help us pursue our long-term opportunities with a stronger cost structure; however, I'm also optimistic that we'll be inventive, resourceful, and scrappy in this time when we're not hiring expansively and [are] eliminating some roles.\"Amazon subsequently filed notices of more than 3,000 job cuts in  New York, California and the company's home state of Washington, as required by law.Last year the e-commerce giant confirmed plans to lay off workers in its devices and services business.  At that time, The Wall Street Journal reported that Amazon could eventually cut about 10,000 jobs.Analysts at Morgan Stanley are looking for Amazon and other tech companies to continue reining in costs.SalesforceSalesforce Inc. $(CRM)$ will lay off 10% of its workforce as part of a restructuring plan.The San Francisco-based company announced the layoffs in a filing with the Securities and Exchange Commission on Jan. 4.  In addition to the job cuts, Salesforce plans to exit some real estate and reduce office space.The restructuring plan is intended to reduce operating costs, improve operating margins and continue advancing Salesforce's commitment to \"profitable growth,\" the company said in the filing.Salesforce estimates that it will incur approximately $1.4 billion to $2.1 billion in charges in connection with the restructuring plan, of which approximately $800 million to $1 billion is expected to be incurred in the fourth quarter of fiscal 2023.Most of the layoffs will be made in the coming weeks, Salesforce CEO Marc Benioff said in a letter to employees that was also filed with the SEC.The Salesforce chief said that the company grew too quickly for the current environment. \"I've been thinking a lot about how we came to this moment,\" he wrote. \"As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we're now facing, and I take responsibility for that.\"Last year, Salesforce laid off hundreds of employees from its sales team, according to news reports, as the tech sector as a whole wrestled with a challenging economic environment.  \"Our sales performance process drives accountability,\" said a Salesforce spokesperson in a statement emailed to MarketWatch in November. \"Unfortunately, that can lead to some leaving the business, and we support them through their transition.\"As of February 2022, the company, which provides customer-relationship-management software, had over 78,000 employees globally.HPIn November, HP Inc. $(HPQ)$ executives announced plans to cut up to 10% of the company's workforce amid what CEO Enrique Lores described as \"a volatile macro environment and softening demand in the second half, with a slowdown on the commercial side.\"\"Companies are delaying their refresh [sales] cycle,\" Lores told MarketWatch in an interview ahead of the public release of the company's fourth-quarter results.HP is launching a three-year workforce-reduction plan meant to shed 4,000 to 6,000 jobs, according to Lores, with more than half of the roughly $1 billion in restructuring costs expected to be realized in the new fiscal year.RokuRoku Inc. (ROKU)announced in November that it would cut about 5% of its workforce amid a challenging advertising landscape.\"Due to the current economic conditions in our industry, we have made the difficult decision to reduce Roku's headcount expenses by a projected 5%, to slow down our [operating-expense] growth rate,\" the company said in a brief statement, noting that about 200 positions in the U.S. would be affected. \"Taking these actions now will allow us to focus our investments on key strategic priorities to drive future growth and enhance our leadership position,\" the statement said.In a filing with the Securities and Exchange Commission, Roku said it anticipated charges of about $28 million to $31 million related to the job cuts, mainly stemming from severance payments, notice pay, employee benefits and other costs. The company expected to take the bulk of those charges in the fourth quarter of 2022. Implementation of the workforce reductions will be mostly complete by the end of the first quarter of 2023, it said.KalturaVideo software company Kaltura Inc. $(KLTR)$ said Jan. 4 it's planning to reduce its workforce by about 11%.In a filing with the Securities and Exchange Commission, Kaltura said its reorganization plan aims to increase efficiency and productivity in response to the current macroeconomic climate. \"The plan's main objectives are to position the company for lower demand, spend, and available budgets across the company's market segments, align the company's business strategy in light of these market conditions and support the company's growth initiatives and return path to profitability,\" it said.On an annualized basis, the total cost reduction from Kaltura's downsizing is expected to be approximately $16 million.The New York-based company will initially book pretax charges of approximately $1 million, primarily for severance and related costs, all of which are expected to be expensed in the first quarter of 2023. The reorganization plan is expected to be \"substantially completed\" in the first half of 2023, according to the SEC filing.RingCentralRingCentral Inc. $(RNG)$ joined the list of tech companies making layoffs with the November announcement of a plan to cut 10% of its workforce as part of a broader push to cut costs amid a deteriorating economic environment. The cloud-based communications company's stock jumped on news of the layoffs and of RingCentral's third-quarter earnings, which beat analysts' expectations.In October, RingCentral was added to the list of \"zombie\" stocks compiled by equity research firm New Constructs.New Constructs, which uses machine learning and natural language processing to parse corporate filings and model economic earnings, described RingCentral as a \"cash incinerator\" at risk of declining to $0 per share.","news_type":1},"isVote":1,"tweetType":1,"viewCount":555,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9955982748,"gmtCreate":1675137291485,"gmtModify":1676538978822,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9955982748","repostId":"1192867920","repostType":4,"repost":{"id":"1192867920","pubTimestamp":1675135825,"share":"https://ttm.financial/m/news/1192867920?lang=&edition=fundamental","pubTime":"2023-01-31 11:30","market":"hk","language":"en","title":"Most Hong Kong Stocks Decline As Traders Await More China Recovery Signals, Fed Policy Action","url":"https://stock-news.laohu8.com/highlight/detail?id=1192867920","media":"South China Morning Post","summary":"China’s official PMI manufacturing index rose to 50.1 in January, ending a three months of contracti","content":"<html><head></head><body><ul><li>China’s official PMI manufacturing index rose to 50.1 in January, ending a three months of contraction, according to the statistics bureau</li><li>Morgan Stanley reiterates buy-the-dip call after the Hang Seng Index slumped on Monday amid concerns about rapid, excessive gains this year</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a753ecb6dbee4e8c06f26eaacff15108\" tg-width=\"1098\" tg-height=\"732\" referrerpolicy=\"no-referrer\"/><span>People walk through the Exchange Square in Central, Hong Kong in October 2022. Photo: AFP</span></p><p>Most Hong Kong stocks declined as traders await more recovery signals in the Chinese economy amid worries about another interest-rate hike by the Federal Reserve later this week. BYD jumped after the electric-car maker projected a record quarterly earnings.</p><p>The Hang Seng Index fell 0.7 per cent to 21,915.05 as of 11.10am local time, after rising as much as 1 per cent. The index slumped almost 3 per cent on Monday. The Tech Index retreated 1 per cent, while the Shanghai Composite Index lost 0.3 per cent.</p><p>Alibaba Group fell 1.1 per cent to HK$107.70 while Tencent Holdings tumbled 2.4 per cent to HK$378 while JD.com lost 2.2 per cent to HK$232.20. Wuxi Biologics dropped 2.8 per cent to HK$65.15 and Sunny Optical Technology slipped 1.8 per cent to HK$106.80.</p><p>“The market has been running a bit hard in the short term,” said Willer Chen, senior analyst at Forsyth Barr Asia in Hong Kong. “Some stocks may not see much room for further gain before real fundamental recovery” is established, he added. “More proof of consumption and property recovery could boost investor confidence.”</p><p>Stocks weakened despite a government report showing the official PMI manufacturing index rising to 50.1 from a three-year-low in December, China’s statistics bureau said on Tuesday.</p><p>The Fed holds its first policy meeting of the year this week and is likely to continue hiking this year to slow down inflation, despite expectations for a downshift, according to market consensus.</p><p>The Hang Seng wavered earlier this week after a three-month rally lifted the city’s benchmark index to an 11-month high. January’s advance alone has amounted to more than 12 per cent, the index’s best start to a year since 1996, as the city’s stock market regained almost US$400 billion of capitalisation.</p><p>“We stay overweight on Chinese equities given the on-track macro recovery,” Morgan Stanley strategist Laura Wang said in a research note on Tuesday. The investment bank sees the market pullback as an opportunity to buy the dip, she added.</p><p>Elsewhere, car maker BYD rose to the highest level in five months. The carmaker said it expects 2022 earnings to reach as high as 17 billion yuan (US$2.52 billion) on record sales, according to an exchange filing. That suggests its fourth-quarter earnings could jump by 13 times to a record 7.7 billion yuan.</p></body></html>","source":"lsy1600132093512","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Most Hong Kong Stocks Decline As Traders Await More China Recovery Signals, Fed Policy Action</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMost Hong Kong Stocks Decline As Traders Await More China Recovery Signals, Fed Policy Action\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-01-31 11:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.scmp.com/business/china-business/article/3208543/most-hong-kong-stocks-decline-traders-await-more-china-recovery-signals-fed-policy-action><strong>South China Morning Post</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>China’s official PMI manufacturing index rose to 50.1 in January, ending a three months of contraction, according to the statistics bureauMorgan Stanley reiterates buy-the-dip call after the Hang Seng...</p>\n\n<a href=\"https://www.scmp.com/business/china-business/article/3208543/most-hong-kong-stocks-decline-traders-await-more-china-recovery-signals-fed-policy-action\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSTECH":"恒生科技指数","HSCEI":"国企指数","HSI":"恒生指数"},"source_url":"https://www.scmp.com/business/china-business/article/3208543/most-hong-kong-stocks-decline-traders-await-more-china-recovery-signals-fed-policy-action","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192867920","content_text":"China’s official PMI manufacturing index rose to 50.1 in January, ending a three months of contraction, according to the statistics bureauMorgan Stanley reiterates buy-the-dip call after the Hang Seng Index slumped on Monday amid concerns about rapid, excessive gains this yearPeople walk through the Exchange Square in Central, Hong Kong in October 2022. Photo: AFPMost Hong Kong stocks declined as traders await more recovery signals in the Chinese economy amid worries about another interest-rate hike by the Federal Reserve later this week. BYD jumped after the electric-car maker projected a record quarterly earnings.The Hang Seng Index fell 0.7 per cent to 21,915.05 as of 11.10am local time, after rising as much as 1 per cent. The index slumped almost 3 per cent on Monday. The Tech Index retreated 1 per cent, while the Shanghai Composite Index lost 0.3 per cent.Alibaba Group fell 1.1 per cent to HK$107.70 while Tencent Holdings tumbled 2.4 per cent to HK$378 while JD.com lost 2.2 per cent to HK$232.20. Wuxi Biologics dropped 2.8 per cent to HK$65.15 and Sunny Optical Technology slipped 1.8 per cent to HK$106.80.“The market has been running a bit hard in the short term,” said Willer Chen, senior analyst at Forsyth Barr Asia in Hong Kong. “Some stocks may not see much room for further gain before real fundamental recovery” is established, he added. “More proof of consumption and property recovery could boost investor confidence.”Stocks weakened despite a government report showing the official PMI manufacturing index rising to 50.1 from a three-year-low in December, China’s statistics bureau said on Tuesday.The Fed holds its first policy meeting of the year this week and is likely to continue hiking this year to slow down inflation, despite expectations for a downshift, according to market consensus.The Hang Seng wavered earlier this week after a three-month rally lifted the city’s benchmark index to an 11-month high. January’s advance alone has amounted to more than 12 per cent, the index’s best start to a year since 1996, as the city’s stock market regained almost US$400 billion of capitalisation.“We stay overweight on Chinese equities given the on-track macro recovery,” Morgan Stanley strategist Laura Wang said in a research note on Tuesday. The investment bank sees the market pullback as an opportunity to buy the dip, she added.Elsewhere, car maker BYD rose to the highest level in five months. The carmaker said it expects 2022 earnings to reach as high as 17 billion yuan (US$2.52 billion) on record sales, according to an exchange filing. That suggests its fourth-quarter earnings could jump by 13 times to a record 7.7 billion yuan.","news_type":1},"isVote":1,"tweetType":1,"viewCount":756,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9952743825,"gmtCreate":1675037721768,"gmtModify":1676538970719,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Great one! Tiger platform is the best!&nbsp;","listText":"Great one! Tiger platform is the best!&nbsp;","text":"Great one! Tiger platform is the best!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9952743825","isVote":1,"tweetType":1,"viewCount":519,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9952743183,"gmtCreate":1675037660542,"gmtModify":1676538970719,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"title":"Best platform ","htmlText":"Such a wonderful platform to trade!&nbsp;","listText":"Such a wonderful platform to trade!&nbsp;","text":"Such a wonderful platform to trade!","images":[],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9952743183","isVote":1,"tweetType":1,"viewCount":356,"authorTweetTopStatus":1,"verified":2,"subType":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9952719419,"gmtCreate":1674963259631,"gmtModify":1676538968477,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9952719419","repostId":"1163548032","repostType":4,"repost":{"id":"1163548032","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1674900769,"share":"https://ttm.financial/m/news/1163548032?lang=&edition=fundamental","pubTime":"2023-01-28 18:12","market":"us","language":"en","title":"Meta Earnings Preview: Reels, WhatsApp Gains in Focus; Metaverse Spending Extends","url":"https://stock-news.laohu8.com/highlight/detail?id=1163548032","media":"Tiger Newspress","summary":"The revenue run rate for Reels and WhatsApp will be a key focus for sales growth. Losses in Meta's R","content":"<html><head></head><body><blockquote>The revenue run rate for Reels and WhatsApp will be a key focus for sales growth. Losses in Meta&#39;s Reality Labs segment could be around $4 billion in 4Q. The ad-pricing decline could persist due to IDFA changes.</blockquote><p><a href=\"https://laohu8.com/S/META\">Meta Platforms</a> announced that it will release its fourth-quarter, 2022 earnings report after the market closes on Wednesday, Feb. 1.</p><p>Analysts expect Meta to post revenue of $31.57 billion, down 6.2% from the same period of the last year. Adjusted net profit of $6.4 billion, and adjusted EPS of $2.92 for the quarter, according to Bloomberg consensus.</p><h3>Latest Results and Outlook</h3><p>In the third quarter, Meta posted revenue of $27.7 billion, slightly beating analysts’ average estimate for $27.4 billion. Net income fell 52% from the same quarter last year to $4.4 billion. Earnings per share were $1.64, below the $1.88 per share average estimate.</p><p>Meta Platforms gave a forecast for revenue in the fourth quarter that was on the low end of analysts’ estimates, showing the social-media platform continues to struggle with a weak advertising market amid an economic slowdown.</p><p>The owner of Instagram and Facebook said it sees $30 billion to $32.5 billion in revenue in the last three months of the year. Analysts had been expecting $32.2 billion, according to estimates compiled by Bloomberg.</p><h3>Meta’s Expenses on the Metaverse Extends in Q4</h3><p>The company, which changed its name from Facebook to Meta a year ago, is betting big on the metaverse, virtual-reality-fueled gathering places that Zuckerberg thinks will host the future of work and communication. The effort is losing Meta billions, and the company expects to lose more money on the metaverse bet next year.</p><p>The metaverse will keep the company’s expenses “relatively high”. Meta’s expensive bet on the metaverse isn’t going away any time soon and will account this year for a fifth of all costs.</p><p>Meta now expects total expenses for 2022 to be $85 billion to $87 billion. For 2023, that number will grow to an expected $96 billion to $101 billion.</p><p>Revenues associated with the metaverse are expected to be several times that of Facebook, as while folks might be accessing Facebook multiple times a day, they would be spending significantly larger fractions of their day, immersed in the metaverse. Based on META’s projections, within a decade of launch, time spent in the metaverse could reflect that spent watching television in the 1990’s, or perusing Facebook in more recent times. Moreover, considering that Meta is building the metaverse block by block, first mover advantage could provide the firm with a land-grab opportunity to secure the largest advertisement contracts, for significant time horizons.</p><h3>Meta&#39;s Ad-Pricing Decline Could Persist in Q4</h3><p>Facebook &amp; Instagram together is undoubtedly the No.1 Social Network platform by number of users. However, this is not the only metric determining the success of Social Network Ads. User time spent and user distribution by generation all remain crucial when we evaluate the Ads dollar potential.</p><p>Since 2020, Facebook users time spent has been trending down. Instagram users time spent grows slightly year over year, but remains around 30 mins. According to eMarketer, TikTok&#39;s users time spent in US is 56 mins. This proved how popular short-form video is nowadays.</p><p>META’s business is comprised of two segments: Family of Apps (FOA), which includes revenues from Facebook, Instagram, Messenger, and WhatsApp; and Reality Labs (RL), which generates sales from virtual reality (VR) headsets, augmented reality (AR) smart glasses, and the Horizon Worlds, metaverse platform. Over nine months ended September 2022, FoA represented 98.3% of total revenues (advertisements contributed 97.6%), and RL accounted for 1.7%.</p><p>Meta’s once-lucrative ad business is stagnating in 2022 because of changes in Apple Inc.’s privacy policy that makes it more difficult to target consumers with ads on its devices.</p><p>Perhaps more crucially, investors will want to see how much of a squeeze Apple’s privacy policy change is continuing to put on ad revenue. In February, Meta estimated Apple’s move would cause a $10 billion revenue hit for the year.</p><p>Meta has transformed a number of key parts of its business. As ByteDance Ltd.’s popular TikTok app has won users’ time and accustomed them to a feed of vertical videos based on users’ interests, Meta has changed Facebook and Instagram’s experiences to show more algorithmically-chosen content and less from the people you follow. Its short-form videos, called Reels, are meant to increase user engagement and revenue opportunities on the app.</p><h3>Analyst Opinions</h3><p>Meta is the best performer in the S&amp;P 500 Index since the stock’s recent low in November, gaining 54%. The bounce was partially driven by the social-media firm’s announcement that it would slash more than 11,000 jobs, the first major round of layoffs in the company’s history.</p><p>Analysts have slashed their average expectations for adjusted earnings per share by 27% and for revenue by 15% over the last six months, according to Bloomberg data.</p><p>Still, there are plenty of bulls. JPMorgan Chase &amp; Co.’s Doug Anmuth last month upgraded his recommendation on Meta to overweight from neutral, noting cheap valuations. And among investors polled by JPMorgan this month, 41% said they expected Meta to be the top-performing megacap internet stock of 2023.</p><p>Sylvia Jablonski, chief investment officer of Defiance ETFs, said Meta appeared to have recognized that shifting focus back to its ad business would be strategically better than throwing all of its eggs into the metaverse basket. This is “a welcome balance for investors,” she said.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Meta Earnings Preview: Reels, WhatsApp Gains in Focus; Metaverse Spending Extends</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMeta Earnings Preview: Reels, WhatsApp Gains in Focus; Metaverse Spending Extends\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2023-01-28 18:12</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><blockquote>The revenue run rate for Reels and WhatsApp will be a key focus for sales growth. Losses in Meta&#39;s Reality Labs segment could be around $4 billion in 4Q. The ad-pricing decline could persist due to IDFA changes.</blockquote><p><a href=\"https://laohu8.com/S/META\">Meta Platforms</a> announced that it will release its fourth-quarter, 2022 earnings report after the market closes on Wednesday, Feb. 1.</p><p>Analysts expect Meta to post revenue of $31.57 billion, down 6.2% from the same period of the last year. Adjusted net profit of $6.4 billion, and adjusted EPS of $2.92 for the quarter, according to Bloomberg consensus.</p><h3>Latest Results and Outlook</h3><p>In the third quarter, Meta posted revenue of $27.7 billion, slightly beating analysts’ average estimate for $27.4 billion. Net income fell 52% from the same quarter last year to $4.4 billion. Earnings per share were $1.64, below the $1.88 per share average estimate.</p><p>Meta Platforms gave a forecast for revenue in the fourth quarter that was on the low end of analysts’ estimates, showing the social-media platform continues to struggle with a weak advertising market amid an economic slowdown.</p><p>The owner of Instagram and Facebook said it sees $30 billion to $32.5 billion in revenue in the last three months of the year. Analysts had been expecting $32.2 billion, according to estimates compiled by Bloomberg.</p><h3>Meta’s Expenses on the Metaverse Extends in Q4</h3><p>The company, which changed its name from Facebook to Meta a year ago, is betting big on the metaverse, virtual-reality-fueled gathering places that Zuckerberg thinks will host the future of work and communication. The effort is losing Meta billions, and the company expects to lose more money on the metaverse bet next year.</p><p>The metaverse will keep the company’s expenses “relatively high”. Meta’s expensive bet on the metaverse isn’t going away any time soon and will account this year for a fifth of all costs.</p><p>Meta now expects total expenses for 2022 to be $85 billion to $87 billion. For 2023, that number will grow to an expected $96 billion to $101 billion.</p><p>Revenues associated with the metaverse are expected to be several times that of Facebook, as while folks might be accessing Facebook multiple times a day, they would be spending significantly larger fractions of their day, immersed in the metaverse. Based on META’s projections, within a decade of launch, time spent in the metaverse could reflect that spent watching television in the 1990’s, or perusing Facebook in more recent times. Moreover, considering that Meta is building the metaverse block by block, first mover advantage could provide the firm with a land-grab opportunity to secure the largest advertisement contracts, for significant time horizons.</p><h3>Meta&#39;s Ad-Pricing Decline Could Persist in Q4</h3><p>Facebook &amp; Instagram together is undoubtedly the No.1 Social Network platform by number of users. However, this is not the only metric determining the success of Social Network Ads. User time spent and user distribution by generation all remain crucial when we evaluate the Ads dollar potential.</p><p>Since 2020, Facebook users time spent has been trending down. Instagram users time spent grows slightly year over year, but remains around 30 mins. According to eMarketer, TikTok&#39;s users time spent in US is 56 mins. This proved how popular short-form video is nowadays.</p><p>META’s business is comprised of two segments: Family of Apps (FOA), which includes revenues from Facebook, Instagram, Messenger, and WhatsApp; and Reality Labs (RL), which generates sales from virtual reality (VR) headsets, augmented reality (AR) smart glasses, and the Horizon Worlds, metaverse platform. Over nine months ended September 2022, FoA represented 98.3% of total revenues (advertisements contributed 97.6%), and RL accounted for 1.7%.</p><p>Meta’s once-lucrative ad business is stagnating in 2022 because of changes in Apple Inc.’s privacy policy that makes it more difficult to target consumers with ads on its devices.</p><p>Perhaps more crucially, investors will want to see how much of a squeeze Apple’s privacy policy change is continuing to put on ad revenue. In February, Meta estimated Apple’s move would cause a $10 billion revenue hit for the year.</p><p>Meta has transformed a number of key parts of its business. As ByteDance Ltd.’s popular TikTok app has won users’ time and accustomed them to a feed of vertical videos based on users’ interests, Meta has changed Facebook and Instagram’s experiences to show more algorithmically-chosen content and less from the people you follow. Its short-form videos, called Reels, are meant to increase user engagement and revenue opportunities on the app.</p><h3>Analyst Opinions</h3><p>Meta is the best performer in the S&amp;P 500 Index since the stock’s recent low in November, gaining 54%. The bounce was partially driven by the social-media firm’s announcement that it would slash more than 11,000 jobs, the first major round of layoffs in the company’s history.</p><p>Analysts have slashed their average expectations for adjusted earnings per share by 27% and for revenue by 15% over the last six months, according to Bloomberg data.</p><p>Still, there are plenty of bulls. JPMorgan Chase &amp; Co.’s Doug Anmuth last month upgraded his recommendation on Meta to overweight from neutral, noting cheap valuations. And among investors polled by JPMorgan this month, 41% said they expected Meta to be the top-performing megacap internet stock of 2023.</p><p>Sylvia Jablonski, chief investment officer of Defiance ETFs, said Meta appeared to have recognized that shifting focus back to its ad business would be strategically better than throwing all of its eggs into the metaverse basket. This is “a welcome balance for investors,” she said.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"META":"Meta Platforms, Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163548032","content_text":"The revenue run rate for Reels and WhatsApp will be a key focus for sales growth. Losses in Meta's Reality Labs segment could be around $4 billion in 4Q. The ad-pricing decline could persist due to IDFA changes.Meta Platforms announced that it will release its fourth-quarter, 2022 earnings report after the market closes on Wednesday, Feb. 1.Analysts expect Meta to post revenue of $31.57 billion, down 6.2% from the same period of the last year. Adjusted net profit of $6.4 billion, and adjusted EPS of $2.92 for the quarter, according to Bloomberg consensus.Latest Results and OutlookIn the third quarter, Meta posted revenue of $27.7 billion, slightly beating analysts’ average estimate for $27.4 billion. Net income fell 52% from the same quarter last year to $4.4 billion. Earnings per share were $1.64, below the $1.88 per share average estimate.Meta Platforms gave a forecast for revenue in the fourth quarter that was on the low end of analysts’ estimates, showing the social-media platform continues to struggle with a weak advertising market amid an economic slowdown.The owner of Instagram and Facebook said it sees $30 billion to $32.5 billion in revenue in the last three months of the year. Analysts had been expecting $32.2 billion, according to estimates compiled by Bloomberg.Meta’s Expenses on the Metaverse Extends in Q4The company, which changed its name from Facebook to Meta a year ago, is betting big on the metaverse, virtual-reality-fueled gathering places that Zuckerberg thinks will host the future of work and communication. The effort is losing Meta billions, and the company expects to lose more money on the metaverse bet next year.The metaverse will keep the company’s expenses “relatively high”. Meta’s expensive bet on the metaverse isn’t going away any time soon and will account this year for a fifth of all costs.Meta now expects total expenses for 2022 to be $85 billion to $87 billion. For 2023, that number will grow to an expected $96 billion to $101 billion.Revenues associated with the metaverse are expected to be several times that of Facebook, as while folks might be accessing Facebook multiple times a day, they would be spending significantly larger fractions of their day, immersed in the metaverse. Based on META’s projections, within a decade of launch, time spent in the metaverse could reflect that spent watching television in the 1990’s, or perusing Facebook in more recent times. Moreover, considering that Meta is building the metaverse block by block, first mover advantage could provide the firm with a land-grab opportunity to secure the largest advertisement contracts, for significant time horizons.Meta's Ad-Pricing Decline Could Persist in Q4Facebook & Instagram together is undoubtedly the No.1 Social Network platform by number of users. However, this is not the only metric determining the success of Social Network Ads. User time spent and user distribution by generation all remain crucial when we evaluate the Ads dollar potential.Since 2020, Facebook users time spent has been trending down. Instagram users time spent grows slightly year over year, but remains around 30 mins. According to eMarketer, TikTok's users time spent in US is 56 mins. This proved how popular short-form video is nowadays.META’s business is comprised of two segments: Family of Apps (FOA), which includes revenues from Facebook, Instagram, Messenger, and WhatsApp; and Reality Labs (RL), which generates sales from virtual reality (VR) headsets, augmented reality (AR) smart glasses, and the Horizon Worlds, metaverse platform. Over nine months ended September 2022, FoA represented 98.3% of total revenues (advertisements contributed 97.6%), and RL accounted for 1.7%.Meta’s once-lucrative ad business is stagnating in 2022 because of changes in Apple Inc.’s privacy policy that makes it more difficult to target consumers with ads on its devices.Perhaps more crucially, investors will want to see how much of a squeeze Apple’s privacy policy change is continuing to put on ad revenue. In February, Meta estimated Apple’s move would cause a $10 billion revenue hit for the year.Meta has transformed a number of key parts of its business. As ByteDance Ltd.’s popular TikTok app has won users’ time and accustomed them to a feed of vertical videos based on users’ interests, Meta has changed Facebook and Instagram’s experiences to show more algorithmically-chosen content and less from the people you follow. Its short-form videos, called Reels, are meant to increase user engagement and revenue opportunities on the app.Analyst OpinionsMeta is the best performer in the S&P 500 Index since the stock’s recent low in November, gaining 54%. The bounce was partially driven by the social-media firm’s announcement that it would slash more than 11,000 jobs, the first major round of layoffs in the company’s history.Analysts have slashed their average expectations for adjusted earnings per share by 27% and for revenue by 15% over the last six months, according to Bloomberg data.Still, there are plenty of bulls. JPMorgan Chase & Co.’s Doug Anmuth last month upgraded his recommendation on Meta to overweight from neutral, noting cheap valuations. And among investors polled by JPMorgan this month, 41% said they expected Meta to be the top-performing megacap internet stock of 2023.Sylvia Jablonski, chief investment officer of Defiance ETFs, said Meta appeared to have recognized that shifting focus back to its ad business would be strategically better than throwing all of its eggs into the metaverse basket. This is “a welcome balance for investors,” she said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":228,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9952494504,"gmtCreate":1674868190709,"gmtModify":1676538963335,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9952494504","repostId":"2306401994","repostType":4,"repost":{"id":"2306401994","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1674864403,"share":"https://ttm.financial/m/news/2306401994?lang=&edition=fundamental","pubTime":"2023-01-28 08:06","market":"us","language":"en","title":"The S&P 500 Is Nearing Its First \"Golden Cross\" in More Than 2 Years. What Does That Portend for Stocks?","url":"https://stock-news.laohu8.com/highlight/detail?id=2306401994","media":"Dow Jones","summary":"The S&P 500 is on the verge of achieving its first \"golden cross\" in two-and-a-half years, but that ","content":"<html><head></head><body><p>The S&amp;P 500 is on the verge of achieving its first &#34;golden cross&#34; in two-and-a-half years, but that doesn&#39;t mean stocks are destined for more gains over the coming year.</p><p>The golden-cross indicator is used by technical analysts as a sign that a particular upward trend in markets or currencies is gaining momentum. Barring a massive selloff in stocks, the S&amp;P 500&#39;s 50-day moving average should cross its 200-day moving average in a matter of days.</p><p>If it happens, it would mark the first such event since July, 2020, according to FactSet data. Data show it often does precede further gains for stocks over the following six months, or a year, but not always.</p><p>The S&amp;P 500 has seen 52 golden crosses since 1930, according to Dow Jones Market Data, which used back-tested data to account for the index&#39;s performance prior to its creation in 1957. In that time, stocks were trading higher one year later 71% of the time.</p><p>But there have been some notable exceptions during periods of heightened volatility.</p><p>The S&amp;P 500  declined during the 12 months that followed the golden cross that occurred on April 1, 2019, according to Dow Jones Market Data. This happened again in 1999 as the dot-com bubble burst, and also following a golden cross that occurred in1986, preceding the &#34;Black Monday&#34; crash.</p><p>The Dow Jones Industrial Average  achieved its most recent golden cross back in December and stocks have since moved higher.</p><p>Technical analysts who spoke with MarketWatch said that while the golden cross can be a helpful sign that a given trend probably has more room to run, it helps to look for other signs as well.</p><p>&#34;The way we think about it is all big rallies start with a golden cross, but not all golden crosses lead to a big rally. It&#39;s just one piece of the puzzle,&#34; said Ari Wald, head of technical analysis at Oppenheimer.</p><p>See: U.S. stocks flash rare bull-market signal for first time in nearly 3 years, but some have their doubts</p><p>There have been some other encouraging signs that U.S. stocks could be headed for a lasting turnaround. One example Wald cited was the so-called advance-decline line, which recently reached a new cycle high.</p><p>According to technical analysts, that&#39;s a measure of market breadth which shows whether the major equity index&#39;s gains are being powered by a broad range of stocks, or a handful.</p><p>The advance-decline line hit 2.2 on Thursday, its highest level in nearly a year.</p><p>The fact that cyclical sectors like technology and consumer discretionary are among the best performers since the start of the year is another encouraging sign, according to Wald.</p><p>FactSet data show that communication services, consumer discretionary and information technology are the three best-performing sectors of the S&amp;P 500 so far this year, with communications services up more than 15% since Jan. 1.</p><p>However, with so much uncertainty about monetary policy and the macroeconomic outlook, some analysts doubt that the stock-market will simply return to business as usual so quickly, even as inflation has moderated over the past six months, taking some of the pressure off the Federal Reserve to continue to raise interest rates.</p><p>One analysts warned that traders who are hungry for confirmation that the market sell-off of 2022 is indeed over should approach indicators like the golden cross with trepidation, despite its historical record.</p><p>&#34;In the past 20 years there have been more secular trends, and the golden crosses have worked,&#34; said Will Tamplin, senior analyst at Fairlead Strategies. &#34;But in an environment that&#39;s a little more choppy, you can get the whipsaws. &#34;</p><p>The S&amp;P 500 and SPDR S&amp;P 500 exchange-traded fund <a href=\"https://laohu8.com/S/SPY\">$(SPY)$</a> touched new intraday highs for the year on Friday, while the Nasdaq Composite  briefly traded at its highest level since September. The Dow Jones Industrial Average  is on track for a weekly gain of more than 2.3%, what would be its best such performance since November.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The S&P 500 Is Nearing Its First \"Golden Cross\" in More Than 2 Years. What Does That Portend for Stocks?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe S&P 500 Is Nearing Its First \"Golden Cross\" in More Than 2 Years. What Does That Portend for Stocks?\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2023-01-28 08:06</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>The S&amp;P 500 is on the verge of achieving its first &#34;golden cross&#34; in two-and-a-half years, but that doesn&#39;t mean stocks are destined for more gains over the coming year.</p><p>The golden-cross indicator is used by technical analysts as a sign that a particular upward trend in markets or currencies is gaining momentum. Barring a massive selloff in stocks, the S&amp;P 500&#39;s 50-day moving average should cross its 200-day moving average in a matter of days.</p><p>If it happens, it would mark the first such event since July, 2020, according to FactSet data. Data show it often does precede further gains for stocks over the following six months, or a year, but not always.</p><p>The S&amp;P 500 has seen 52 golden crosses since 1930, according to Dow Jones Market Data, which used back-tested data to account for the index&#39;s performance prior to its creation in 1957. In that time, stocks were trading higher one year later 71% of the time.</p><p>But there have been some notable exceptions during periods of heightened volatility.</p><p>The S&amp;P 500  declined during the 12 months that followed the golden cross that occurred on April 1, 2019, according to Dow Jones Market Data. This happened again in 1999 as the dot-com bubble burst, and also following a golden cross that occurred in1986, preceding the &#34;Black Monday&#34; crash.</p><p>The Dow Jones Industrial Average  achieved its most recent golden cross back in December and stocks have since moved higher.</p><p>Technical analysts who spoke with MarketWatch said that while the golden cross can be a helpful sign that a given trend probably has more room to run, it helps to look for other signs as well.</p><p>&#34;The way we think about it is all big rallies start with a golden cross, but not all golden crosses lead to a big rally. It&#39;s just one piece of the puzzle,&#34; said Ari Wald, head of technical analysis at Oppenheimer.</p><p>See: U.S. stocks flash rare bull-market signal for first time in nearly 3 years, but some have their doubts</p><p>There have been some other encouraging signs that U.S. stocks could be headed for a lasting turnaround. One example Wald cited was the so-called advance-decline line, which recently reached a new cycle high.</p><p>According to technical analysts, that&#39;s a measure of market breadth which shows whether the major equity index&#39;s gains are being powered by a broad range of stocks, or a handful.</p><p>The advance-decline line hit 2.2 on Thursday, its highest level in nearly a year.</p><p>The fact that cyclical sectors like technology and consumer discretionary are among the best performers since the start of the year is another encouraging sign, according to Wald.</p><p>FactSet data show that communication services, consumer discretionary and information technology are the three best-performing sectors of the S&amp;P 500 so far this year, with communications services up more than 15% since Jan. 1.</p><p>However, with so much uncertainty about monetary policy and the macroeconomic outlook, some analysts doubt that the stock-market will simply return to business as usual so quickly, even as inflation has moderated over the past six months, taking some of the pressure off the Federal Reserve to continue to raise interest rates.</p><p>One analysts warned that traders who are hungry for confirmation that the market sell-off of 2022 is indeed over should approach indicators like the golden cross with trepidation, despite its historical record.</p><p>&#34;In the past 20 years there have been more secular trends, and the golden crosses have worked,&#34; said Will Tamplin, senior analyst at Fairlead Strategies. &#34;But in an environment that&#39;s a little more choppy, you can get the whipsaws. &#34;</p><p>The S&amp;P 500 and SPDR S&amp;P 500 exchange-traded fund <a href=\"https://laohu8.com/S/SPY\">$(SPY)$</a> touched new intraday highs for the year on Friday, while the Nasdaq Composite  briefly traded at its highest level since September. The Dow Jones Industrial Average  is on track for a weekly gain of more than 2.3%, what would be its best such performance since November.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SH":"标普500反向ETF","SSO":"两倍做多标普500ETF","SPXU":"三倍做空标普500ETF","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","SPY":"标普500ETF","BK4559":"巴菲特持仓","OEX":"标普100",".SPX":"S&P 500 Index","OEF":"标普100指数ETF-iShares","BK4550":"红杉资本持仓","SDS":"两倍做空标普500ETF","UPRO":"三倍做多标普500ETF","BK4581":"高盛持仓","BK4504":"桥水持仓","IVV":"标普500指数ETF"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2306401994","content_text":"The S&P 500 is on the verge of achieving its first \"golden cross\" in two-and-a-half years, but that doesn't mean stocks are destined for more gains over the coming year.The golden-cross indicator is used by technical analysts as a sign that a particular upward trend in markets or currencies is gaining momentum. Barring a massive selloff in stocks, the S&P 500's 50-day moving average should cross its 200-day moving average in a matter of days.If it happens, it would mark the first such event since July, 2020, according to FactSet data. Data show it often does precede further gains for stocks over the following six months, or a year, but not always.The S&P 500 has seen 52 golden crosses since 1930, according to Dow Jones Market Data, which used back-tested data to account for the index's performance prior to its creation in 1957. In that time, stocks were trading higher one year later 71% of the time.But there have been some notable exceptions during periods of heightened volatility.The S&P 500  declined during the 12 months that followed the golden cross that occurred on April 1, 2019, according to Dow Jones Market Data. This happened again in 1999 as the dot-com bubble burst, and also following a golden cross that occurred in1986, preceding the \"Black Monday\" crash.The Dow Jones Industrial Average  achieved its most recent golden cross back in December and stocks have since moved higher.Technical analysts who spoke with MarketWatch said that while the golden cross can be a helpful sign that a given trend probably has more room to run, it helps to look for other signs as well.\"The way we think about it is all big rallies start with a golden cross, but not all golden crosses lead to a big rally. It's just one piece of the puzzle,\" said Ari Wald, head of technical analysis at Oppenheimer.See: U.S. stocks flash rare bull-market signal for first time in nearly 3 years, but some have their doubtsThere have been some other encouraging signs that U.S. stocks could be headed for a lasting turnaround. One example Wald cited was the so-called advance-decline line, which recently reached a new cycle high.According to technical analysts, that's a measure of market breadth which shows whether the major equity index's gains are being powered by a broad range of stocks, or a handful.The advance-decline line hit 2.2 on Thursday, its highest level in nearly a year.The fact that cyclical sectors like technology and consumer discretionary are among the best performers since the start of the year is another encouraging sign, according to Wald.FactSet data show that communication services, consumer discretionary and information technology are the three best-performing sectors of the S&P 500 so far this year, with communications services up more than 15% since Jan. 1.However, with so much uncertainty about monetary policy and the macroeconomic outlook, some analysts doubt that the stock-market will simply return to business as usual so quickly, even as inflation has moderated over the past six months, taking some of the pressure off the Federal Reserve to continue to raise interest rates.One analysts warned that traders who are hungry for confirmation that the market sell-off of 2022 is indeed over should approach indicators like the golden cross with trepidation, despite its historical record.\"In the past 20 years there have been more secular trends, and the golden crosses have worked,\" said Will Tamplin, senior analyst at Fairlead Strategies. \"But in an environment that's a little more choppy, you can get the whipsaws. \"The S&P 500 and SPDR S&P 500 exchange-traded fund $(SPY)$ touched new intraday highs for the year on Friday, while the Nasdaq Composite  briefly traded at its highest level since September. The Dow Jones Industrial Average  is on track for a weekly gain of more than 2.3%, what would be its best such performance since November.","news_type":1},"isVote":1,"tweetType":1,"viewCount":251,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9929857551,"gmtCreate":1670640061374,"gmtModify":1676538410486,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9929857551","repostId":"2290255966","repostType":4,"repost":{"id":"2290255966","pubTimestamp":1670623235,"share":"https://ttm.financial/m/news/2290255966?lang=&edition=fundamental","pubTime":"2022-12-10 06:00","market":"us","language":"en","title":"3 Growth Stocks That Could Be Huge Winners in the Next Decade and Beyond","url":"https://stock-news.laohu8.com/highlight/detail?id=2290255966","media":"Motley Fool","summary":"The future for Shopify, Roku, and Nvidia is bright.","content":"<html><head></head><body><p>It has been a tough year for investors, but the last thing you want to do now is panic. Investing is a long-term game played out over decades. Growth stocks have been hit especially hard this year, but their long-term investment thesis hasn&#39;t changed.</p><p><b>Shopify</b>, <b>Roku</b>, and <b>Nvidia</b> are three downtrodden companies that look like excellent buying opportunities for investors willing to hold them for the next decade and beyond. What makes these companies appealing is their position in industries due for explosive growth in the coming years.</p><p>Here&#39;s what you should know about each of these growth stocks.</p><h2>1. Shopify&#39;s long-term prospects remain bright</h2><p>Shopify provides people with the tools they need to run their online stores (along with brick-and-mortar operations), handling everything from payment processing to inventory management and website hosting.</p><p>The company was a huge winner during the pandemic, which shifted consumer trends online in record fashion. From 2019 to 2021, Shopify&#39;s revenue grew 192%, and the optimism around online shopping trends was higher than ever.</p><p>Shopify management expected strong trends to continue and racked up expenses in a big way this year. Revenue growth was a solid 22%, but expenses ballooned by 69% -- resulting in $2.8 billion in losses this year. The company is working to reel in costs and laid off 10% of its workforce in July.</p><p>Management may have overshot the growth of online shopping, but the company continues to grow steadily. Shopify Payments, its payment processing solution, makes it easy for merchants to accept and process payment cards. This product accounted for 54% of Shopify&#39;s total gross merchandise volume through its platform, showing room for growth.</p><p>According to eMarketer, e-commerce sales are expected to grow from $5.2 billion in 2021 to $8.1 billion in 2026, a growth rate of roughly 9% annually. One way Shopify looks to build on its position is through its Shopify Fulfillment Network (SFN). This service simplifies logistics across the supply chain, from freight to distribution to delivery, and is expected to reach scale sometime in 2023 or 2024.</p><p>While Shopify stock may be down 71% this year, it is in an excellent position to keep scaling up and taking a share of the e-commerce market.</p><h2>2. Roku sits at the top of the streaming services world</h2><p>Roku provides customers with a streaming platform through its various products, including Roku Stick, smart TVs, and other streaming devices. According to Conviva, a provider of video analytics services, Roku is the world&#39;s top streaming platform, with its devices streaming 30.5% of users&#39; total viewing time. <b>Amazon</b> Fire TV and Samsung TV were the next closest, with 16% and 13.7%, respectively, of users&#39; total streaming time.</p><p>Roku&#39;s platform is free to use, making most of its money from ads and revenue-sharing deals when users engage with different apps. The company was a big winner during the pandemic and put together six consecutive profitable quarters. However, it hasn&#39;t had a profitable quarter this year, and its third-quarter loss of $122 million was the largest quarterly loss in its history.</p><p>Roku faces headwinds in the short term as ad spending softens amid an uncertain economic backdrop. Many companies are concerned about the health of the economy and consumer spending and have cut back on advertising expenses in response. Roku expects its net loss to balloon to $245 million in the fourth quarter.</p><p>Roku will face volatility in the short term, but the company is in a solid position for the long haul. It has done a stellar job of growing its user base and average revenue per user. In the third quarter, its user base grew 16% to 65.4 million, while the average revenue per user was up 10% to $44.25.</p><p>Its position as the top streaming platform will be crucial to Roku as connected TV ad spending grows. According to data from Statista, connected advertising spending in the U.S. will go from $18.9 billion this year to $38.8 billion in 2026, representing an annual growth rate of 20%.</p><p>While Roku faces short-term headwinds from softening ad spending, it still sees solid growth in its customer base. The company is well positioned to ride the tailwinds as more digital ad spending shifts to connected TV -- making Roku a company that could be a huge winner over the next decade.</p><h2>3. Nvidia&#39;s hardware powers lucrative innovations</h2><p>Nvidia produces crucial hardware that helps push the boundaries of what is possible. Its graphic processing units (GPUs) are behind some of the most innovative technological trends, including cloud computing, artificial intelligence (AI), gaming, autonomous vehicles, cryptocurrency, and the metaverse. According to Jon Peddie Research, Nvidia recently increased its discrete GPU market share to 88% in the third quarter.</p><p>Like others, Nvidia has faced headwinds this year. Inflation has dampened consumer spending on video cards for gaming, and its inventory levels have risen rapidly. Falling cryptocurrency prices have also weighed on consumer demand. Its third-quarter (ended Oct. 30) revenue fell 12% from the prior quarter and 17% from the same quarter last year. The company predicts weakness in the fourth quarter to continue, with revenue expected to fall around 21%.</p><p>Slowing demand has weighed on the stock, which is down 43% this year. However, when you zoom out and look at the long game, Nvidia is in an excellent position to grow. The company has leveraged its technology to build platforms enabling developers to deploy AI applications or build 3D worlds and avatars for the metaverse (Omniverse platform).</p><p>Overall, Nvidia believes its total addressable markets (TAM) is $1 trillion among its multiple products. Its largest TAMs are in chips and systems and automotive technology, each estimated to be at $300 billion. These markets are followed by its AI software and the Omniverse platform products, which it marks at $150 billion each.</p><p>Nvidia stock trades at a lofty price of 37 times forward earnings and will likely face some volatility in the coming quarters. However, it&#39;s in an excellent position to capitalize on some of the most innovative technologies of our day -- making it another stellar stock that could be a huge winner over the next decade and beyond.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Growth Stocks That Could Be Huge Winners in the Next Decade and Beyond</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Growth Stocks That Could Be Huge Winners in the Next Decade and Beyond\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-10 06:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/12/09/3-growth-stocks-that-could-be-huge-winners-in-the/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It has been a tough year for investors, but the last thing you want to do now is panic. Investing is a long-term game played out over decades. Growth stocks have been hit especially hard this year, ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/12/09/3-growth-stocks-that-could-be-huge-winners-in-the/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达","SHOP":"Shopify Inc","ROKU":"Roku Inc"},"source_url":"https://www.fool.com/investing/2022/12/09/3-growth-stocks-that-could-be-huge-winners-in-the/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2290255966","content_text":"It has been a tough year for investors, but the last thing you want to do now is panic. Investing is a long-term game played out over decades. Growth stocks have been hit especially hard this year, but their long-term investment thesis hasn't changed.Shopify, Roku, and Nvidia are three downtrodden companies that look like excellent buying opportunities for investors willing to hold them for the next decade and beyond. What makes these companies appealing is their position in industries due for explosive growth in the coming years.Here's what you should know about each of these growth stocks.1. Shopify's long-term prospects remain brightShopify provides people with the tools they need to run their online stores (along with brick-and-mortar operations), handling everything from payment processing to inventory management and website hosting.The company was a huge winner during the pandemic, which shifted consumer trends online in record fashion. From 2019 to 2021, Shopify's revenue grew 192%, and the optimism around online shopping trends was higher than ever.Shopify management expected strong trends to continue and racked up expenses in a big way this year. Revenue growth was a solid 22%, but expenses ballooned by 69% -- resulting in $2.8 billion in losses this year. The company is working to reel in costs and laid off 10% of its workforce in July.Management may have overshot the growth of online shopping, but the company continues to grow steadily. Shopify Payments, its payment processing solution, makes it easy for merchants to accept and process payment cards. This product accounted for 54% of Shopify's total gross merchandise volume through its platform, showing room for growth.According to eMarketer, e-commerce sales are expected to grow from $5.2 billion in 2021 to $8.1 billion in 2026, a growth rate of roughly 9% annually. One way Shopify looks to build on its position is through its Shopify Fulfillment Network (SFN). This service simplifies logistics across the supply chain, from freight to distribution to delivery, and is expected to reach scale sometime in 2023 or 2024.While Shopify stock may be down 71% this year, it is in an excellent position to keep scaling up and taking a share of the e-commerce market.2. Roku sits at the top of the streaming services worldRoku provides customers with a streaming platform through its various products, including Roku Stick, smart TVs, and other streaming devices. According to Conviva, a provider of video analytics services, Roku is the world's top streaming platform, with its devices streaming 30.5% of users' total viewing time. Amazon Fire TV and Samsung TV were the next closest, with 16% and 13.7%, respectively, of users' total streaming time.Roku's platform is free to use, making most of its money from ads and revenue-sharing deals when users engage with different apps. The company was a big winner during the pandemic and put together six consecutive profitable quarters. However, it hasn't had a profitable quarter this year, and its third-quarter loss of $122 million was the largest quarterly loss in its history.Roku faces headwinds in the short term as ad spending softens amid an uncertain economic backdrop. Many companies are concerned about the health of the economy and consumer spending and have cut back on advertising expenses in response. Roku expects its net loss to balloon to $245 million in the fourth quarter.Roku will face volatility in the short term, but the company is in a solid position for the long haul. It has done a stellar job of growing its user base and average revenue per user. In the third quarter, its user base grew 16% to 65.4 million, while the average revenue per user was up 10% to $44.25.Its position as the top streaming platform will be crucial to Roku as connected TV ad spending grows. According to data from Statista, connected advertising spending in the U.S. will go from $18.9 billion this year to $38.8 billion in 2026, representing an annual growth rate of 20%.While Roku faces short-term headwinds from softening ad spending, it still sees solid growth in its customer base. The company is well positioned to ride the tailwinds as more digital ad spending shifts to connected TV -- making Roku a company that could be a huge winner over the next decade.3. Nvidia's hardware powers lucrative innovationsNvidia produces crucial hardware that helps push the boundaries of what is possible. Its graphic processing units (GPUs) are behind some of the most innovative technological trends, including cloud computing, artificial intelligence (AI), gaming, autonomous vehicles, cryptocurrency, and the metaverse. According to Jon Peddie Research, Nvidia recently increased its discrete GPU market share to 88% in the third quarter.Like others, Nvidia has faced headwinds this year. Inflation has dampened consumer spending on video cards for gaming, and its inventory levels have risen rapidly. Falling cryptocurrency prices have also weighed on consumer demand. Its third-quarter (ended Oct. 30) revenue fell 12% from the prior quarter and 17% from the same quarter last year. The company predicts weakness in the fourth quarter to continue, with revenue expected to fall around 21%.Slowing demand has weighed on the stock, which is down 43% this year. However, when you zoom out and look at the long game, Nvidia is in an excellent position to grow. The company has leveraged its technology to build platforms enabling developers to deploy AI applications or build 3D worlds and avatars for the metaverse (Omniverse platform).Overall, Nvidia believes its total addressable markets (TAM) is $1 trillion among its multiple products. Its largest TAMs are in chips and systems and automotive technology, each estimated to be at $300 billion. These markets are followed by its AI software and the Omniverse platform products, which it marks at $150 billion each.Nvidia stock trades at a lofty price of 37 times forward earnings and will likely face some volatility in the coming quarters. However, it's in an excellent position to capitalize on some of the most innovative technologies of our day -- making it another stellar stock that could be a huge winner over the next decade and beyond.","news_type":1},"isVote":1,"tweetType":1,"viewCount":419,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9920441359,"gmtCreate":1670544360572,"gmtModify":1676538389060,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9920441359","repostId":"1187802021","repostType":4,"repost":{"id":"1187802021","pubTimestamp":1670541479,"share":"https://ttm.financial/m/news/1187802021?lang=&edition=fundamental","pubTime":"2022-12-09 07:17","market":"us","language":"en","title":"Lululemon Drops 7% as Profitability, Sales Outlook Fall Short","url":"https://stock-news.laohu8.com/highlight/detail?id=1187802021","media":"Bloomberg","summary":"Yogawear maker reports a surge in inventory from year earlierHigher full-year sales projection falls","content":"<html><head></head><body><ul><li>Yogawear maker reports a surge in inventory from year earlier</li><li>Higher full-year sales projection falls short of expectations</li></ul><p>Lululemon Athletica Inc. shares dropped as lower-than-expected profitability raised concerns about a pileup of inventory and the yogawear maker’s full-year sales forecast disappointed Wall Street.</p><p>Gross margin, a key gauge of profitability, was 55.9% in the third quarter, short of analysts’ average estimate of 56.7%. Inventories surged from a year earlier — evoking similar problems experienced by retailers that have led to profit-busting markdowns.</p><p>“Gross margins came in well below expectations, which is a concern, especially as inventories are up 85%,” Bloomberg Intelligence analyst Poonam Goyal said.</p><p>On the company’s call with analysts, executives said the third quarter will be the high point for inventory. Chief Financial Officer Meghan Frank said the rate of inventory growth will moderate at the end of the fourth quarter.</p><p>Lululemon raised its sales forecast for the full year ending in January to as much as $7.99 billion. While that’s up from the previous range of as much as $7.94 billion, the low end was still below analysts’ average estimate.</p><p>The shares fell 9.2% in after-market trading in New York on Thursday. The stock has declined about 5.6% this year through Thursday’s close.</p><p>Chief Executive Officer Calvin McDonald said the company hasn’t seen “any significant shift in spending among our guests.”</p><p>“We’re off to a strong start this holiday season and I’m pleased with our results over the extended Thanksgiving Day weekend,” McDonald said in an interview. “Black Friday was the biggest day in our history in terms of both revenue and traffic.”</p><p>Lululemon is looking to double sales by the fiscal year ending in early 2027 by opening more stores, expanding abroad and selling more products to men. It’s also trying a new two-tier membership program to keep customers coming back.</p><p>McDonald said the company’s manufacturing partners are back to full capacity. Freight times have also improved, although they remain higher than pre-pandemic, he added. The company has resorted to using air freight, which is more expensive, in recent years.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Lululemon Drops 7% as Profitability, Sales Outlook Fall Short</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLululemon Drops 7% as Profitability, Sales Outlook Fall Short\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-09 07:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-12-08/lululemon-falls-as-profitability-concerns-outweigh-earnings-beat?srnd=premium><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Yogawear maker reports a surge in inventory from year earlierHigher full-year sales projection falls short of expectationsLululemon Athletica Inc. shares dropped as lower-than-expected profitability ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-12-08/lululemon-falls-as-profitability-concerns-outweigh-earnings-beat?srnd=premium\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LULU":"lululemon athletica"},"source_url":"https://www.bloomberg.com/news/articles/2022-12-08/lululemon-falls-as-profitability-concerns-outweigh-earnings-beat?srnd=premium","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187802021","content_text":"Yogawear maker reports a surge in inventory from year earlierHigher full-year sales projection falls short of expectationsLululemon Athletica Inc. shares dropped as lower-than-expected profitability raised concerns about a pileup of inventory and the yogawear maker’s full-year sales forecast disappointed Wall Street.Gross margin, a key gauge of profitability, was 55.9% in the third quarter, short of analysts’ average estimate of 56.7%. Inventories surged from a year earlier — evoking similar problems experienced by retailers that have led to profit-busting markdowns.“Gross margins came in well below expectations, which is a concern, especially as inventories are up 85%,” Bloomberg Intelligence analyst Poonam Goyal said.On the company’s call with analysts, executives said the third quarter will be the high point for inventory. Chief Financial Officer Meghan Frank said the rate of inventory growth will moderate at the end of the fourth quarter.Lululemon raised its sales forecast for the full year ending in January to as much as $7.99 billion. While that’s up from the previous range of as much as $7.94 billion, the low end was still below analysts’ average estimate.The shares fell 9.2% in after-market trading in New York on Thursday. The stock has declined about 5.6% this year through Thursday’s close.Chief Executive Officer Calvin McDonald said the company hasn’t seen “any significant shift in spending among our guests.”“We’re off to a strong start this holiday season and I’m pleased with our results over the extended Thanksgiving Day weekend,” McDonald said in an interview. “Black Friday was the biggest day in our history in terms of both revenue and traffic.”Lululemon is looking to double sales by the fiscal year ending in early 2027 by opening more stores, expanding abroad and selling more products to men. It’s also trying a new two-tier membership program to keep customers coming back.McDonald said the company’s manufacturing partners are back to full capacity. Freight times have also improved, although they remain higher than pre-pandemic, he added. The company has resorted to using air freight, which is more expensive, in recent years.","news_type":1},"isVote":1,"tweetType":1,"viewCount":158,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9968485851,"gmtCreate":1669293402074,"gmtModify":1676538179803,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/9968485851","repostId":"2285384020","repostType":4,"repost":{"id":"2285384020","pubTimestamp":1669302016,"share":"https://ttm.financial/m/news/2285384020?lang=&edition=fundamental","pubTime":"2022-11-24 23:00","market":"us","language":"en","title":"Latest Memo From Howard Marks: What Really Matters?","url":"https://stock-news.laohu8.com/highlight/detail?id=2285384020","media":"Seeking Alpha","summary":"SummaryThe vast majority of investors can’t know for sure what macro events lie just ahead or how th","content":"<html><head></head><body><h2>Summary</h2><ul><li>The vast majority of investors can’t know for sure what macro events lie just ahead or how the markets will react to the things that do happen.</li><li>Most people buy stocks with the goal of selling them at a higher price, thinking they’re for trading, not for owning.</li><li>Most individual investors and anyone who understands the limitations regarding outperformance would probably be best off holding index funds over the long run.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b128f2533a162219e4fb760585c5b07f\" tg-width=\"750\" tg-height=\"457\" referrerpolicy=\"no-referrer\"/><span>We Are</span></p><p>I&#39;ve gathered a few ideas from several of my memos this year - plus some recent musings and conversations - to form the subject of this memo: what really matters or should matter for investors. I&#39;ll start by examining a number of things that I think don&#39;t matter.</p><h2>What Doesn&#39;t Matter: Short-Term Events</h2><p>In <i>The Illusion of Knowledge</i> (September 2022), I railed against macro forecasting, which in our profession mostly concerns the next year or two. And in <i>I Beg to Differ</i> (July 2022), I discussed the questions I was asked most frequently at Oaktree&#39;s June 21 conference in London: How bad will inflation get? How much will the Fed raise interest rates to fight it? Will those increases cause a recession? How bad and for how long? The bottom line, I told the attendees, was that these things all relate to the short term, and this is what I know about the short term:</p><ul><li><p>Most investors can&#39;t do a superior job of predicting short-term phenomena like these.</p></li><li><p>Thus, they shouldn&#39;t put much stock in opinions on these subjects (theirs or those of others).</p></li><li><p>They&#39;re unlikely to make major changes in their portfolios in response to these opinions.</p></li><li><p>The changes they do make are unlikely to be consistently right.</p></li><li><p>Thus, these aren&#39;t the things that matter.</p></li></ul><p>Consider an example. In response to the first tremors of the Global Financial Crisis, the Federal Reserve began to cut the fed funds rate in 3Q2007. They then lowered it to zero around the end of 2008 and left it there for seven years. In late 2015, virtually the only question I got was &#34;When will the first rate increase occur?&#34; My answer was always the same: &#34;Why do you care? If I say &#39;February,&#39; what will you do? And if I later change my mind and say &#39;May,&#39; what will you do differently? If everyone knows rates are about to rise, what difference does it make which month the process starts?&#34; No one ever offered a convincing answer. Investors probably think asking such questions is part of behaving professionally, but I doubt they could explain why.</p><p>The vast majority of investors can&#39;t know for sure what macro events lie just ahead or how the markets will react to the things that do happen. In <i>The Illusion of Knowledge</i>, I wrote at length about the way unforeseen events make a hash of economic and market forecasts. In summary, most forecasts are extrapolations, and most of the time things don&#39;t change, so extrapolations are usually correct, but not particularly profitable. On the other hand, accurate forecasts of deviations from trends can be very profitable, but they&#39;re hard to make and hard to act on. These are some of the reasons why most people can&#39;t predict the future well enough to repeatably produce superior performance.</p><p>Why is doing this so hard? Don&#39;t most of us know what events are likely to transpire? Can&#39;t we just buy the securities of the companies that are most likely to benefit from those events? In the long run, maybe, but I want to turn to a theme that Bruce Karsh has been emphasizing lately, regarding a major reason why it&#39;s particularly challenging to profit from a short-term focus: <b>It&#39;s verydifficult to know which expectations regarding events are already incorporated in security prices.</b></p><p>One of the critical mistakes people are guilty of - we see it all the time in the media - is believing that changes in security prices are the result of events: that favorable events lead to rising prices and negative events lead to falling prices. I think that&#39;s what most people believe - especially first-level thinkers - but that&#39;s not right. <b>Security prices are determined by events and how investors react to those events, which is largely a function of how the events stack up against investors&#39; expectations.</b></p><p>How can we explain a company that reports higher earnings, only to see its stock price drop? The answer, of course, is that the reported improvement fell short of expectations and thus disappointed investors. So, at the most elementary level, it&#39;s not whether the event is simply positive or not, but how the event compares with what was expected.</p><p>In my earliest working years, I used to spend a few minutes each day looking over the earnings reports printed in <i>The Wall Street Journal</i>. But after a while, it dawned on me that since I didn&#39;t know what numbers had been expected, I had no idea whether an announcement from a company I didn&#39;t follow was good news or bad.</p><p>Investors can become experts regarding a few companies and their securities, but no one is likely to know enough about macro events to (A) be able to understand the macro expectations that underlie the prices of securities, (B) anticipate the broad events, and (C) predict how those securities will react. Where can a prospective buyer look to find out what the investors who set securities prices already anticipate in terms of inflation, GDP, or unemployment? Inferences regarding expectations can sometimes be drawn from asset prices, but the inferred levels often aren&#39;t proved correct when the actual results come in.</p><p>Further, in the short term, security prices are highly susceptible to random and exogenous events that can swamp the impact of fundamental events. <b>Macro events and the ups and downs of companies&#39; near-term fortunes are unpredictable and not necessarily indicative of - or relevant to - companies&#39; long-term prospects. So little attention should be paid to them.</b> For example, companies often deliberately reduce current earnings by investing in the future of their businesses; thus, low reported earnings can imply high future earnings, not continued low earnings. To know the difference, you have to have an in-depth understanding of the company.</p><p>No one should be fooled into thinking security pricing is a dependable process that accurately follows a set of rules. Events are unpredictable; they can be altered by unpredictable influences, and investors&#39; reactions to the events that occur are unpredictable. Due to the presence of so much uncertainty, most investors are unable to improve their results by focusing on the short term.</p><p>It&#39;s clear from observation that security prices fluctuate much more than economic output or company profits. <b>What accounts for this? It must be the fact that, in the short term, the ups and downs of prices are influenced far more by swings in investor psychology than by changes in companies&#39; long-term prospects. Because swings in psychology matter more in the near term than changes in fundamentals - and are so hard to predict - most short-term trading is a waste of time... or worse.</b></p><h2>What Doesn&#39;t Matter: The Trading Mentality</h2><p>Over the years, my memos have often included some of my father&#39;s jokes from the 1950s, based on my strong belief that humor often reflects truths about the human condition. Given its relevance here, I&#39;m going to devote a bit of space to a joke I&#39;ve shared before:</p><p><img src=\"https://static.tigerbbs.com/af510c5d038ecaeaa793f3d6b442a86a\" tg-width=\"911\" tg-height=\"590\" referrerpolicy=\"no-referrer\"/></p><p>I include this old joke because I believe most people treat stocks and bonds like something to trade, not something to own.</p><p><b>If you ask Warren Buffett to describe the foundation of his approach to investing, he&#39;ll probably start by insisting that stocks should be thought of as ownership interests in companies.</b> Most people don&#39;t start companies with the goal of selling them in the short term, but rather they seek to operate them, enjoy profitability, and expand the business. Of course, founders do these things to ultimately make money, but they&#39;re likely to view the money as the byproduct of having run a successful business. Buffett says people who buy stocks should think of themselves as partners of owners with whom they share goals.</p><p>But I think that&#39;s rarely the case. <b>Most people buy stocks with the goal of selling them at a higher price, thinking they&#39;re for trading, not for owning.</b> This means they abandon the owner mentality and instead act like gamblers or speculators who bet on stock price moves. The results are often unpleasant.</p><p>The DALBAR Institute 2012 study showed that investors receive three percentage points less per year than the S&amp;P 500 generated from 1992 to 2012, and the average holding period for a typical investor is six months. Six Months!! When you hold a stock for less than a year, you are not using the stock market to acquire business ownership positions and participate in the growth of that business. Instead, you are just guessing at short-term news and expectations, and your returns are based on how other people react to that news information. In aggregate, that kind of attitude gets you three percentage points less per year than you&#39;d get from doing nothing at all beyond making the initial investment in the index fund of the S&amp;P 500. (&#34;Fidelity&#39;s Best Investors Are Dead,&#34; <i>The Conservative Income Investor</i>, April 8, 2020)</p><p>To me, buying for a short-term trade equates to forgetting about your sports team&#39;s chances of winning the championship and instead betting on who&#39;s going to succeed in the next play, period, or inning.</p><p>Let&#39;s think about the logic. You buy a stock because you think it&#39;s worth more than you have to pay for it, whereas the seller considers it fully priced. Someday, if things go well, it&#39;ll become fully priced, in your opinion, meaning you&#39;ll sell it. The person you sell it to, however, will buy it because he thinks it&#39;s worth still more. We used to talk about this process as being reliant on the Greater Fool Theory: No matter what price I pay for a stock, there will always be someone who will buy it from me for more, despite the fact that I&#39;m selling because I&#39;ve concluded that it has reached full value.</p><p>Every buyer is motivated by the belief that the stock will eventually be worth more than today&#39;s price (a view the seller presumably doesn&#39;t share). The key question is what type of thinking underlies these purchases. <b>Are the buyers buying because this is a company they&#39;d like to own a piece of for years? Or are they merely betting that the price will go up?</b> The transactions may look the same from the outside, but I wonder about the thought process and thus the soundness of the logic.</p><p><b>Each time a stock is traded, one side is wrong and one is right. But if what you&#39;re doing is betting on trends in popularity, and thus the direction of price moves over the next month, quarter, or year, is it realistic to believe you&#39;ll be right more often than the person on the other side of the trade?</b> Maybe the decline of active management can be attributed to the many active managers who placed bets on the direction of stock prices in the short term, instead of picking companies they wanted to own part of for years. It&#39;s all a matter of the underlying mentality.</p><p>I had a long debate on this topic with my father back in 1969, when I lived with him during my first months at First National City Bank. (It&#39;s amazing for me to think back to those days; he was so much younger than I am today.) I told him I thought buying a stock should be motivated by something other than the hope that the price would rise, and I suggested this might be the expectation that dividends would increase over time. He countered that no one buys stocks for the dividends - they buy because they think the price will go up. But what would trigger the rise?</p><p>Wanting to own a business for its commercial merit and long-term earnings potential is a good reason to be a stockholder, and if these expectations are borne out, a good reason to believe the stock price will rise. In the absence of that, buying in the hope of appreciation merely amounts to trying to guess which industries and companies investors will favor in the future. Ben Graham famously said, &#34;In the short run, a market is a voting machine, but in the long run, it is a weighing machine.&#34; <b>While none of this is easy, as Charlie Munger once told me, carefully weighing long-term merit should produce better results than trying to guess at short-term swings in popularity.</b></p><h2>What Doesn&#39;t Matter: Short-Term Performance</h2><p>Given the possible contributors to short-term investment performance, reported results can present a highly misleading picture, and here I&#39;m talking mostly about superior gains in good times. I feel there are three ingredients for success during good times - aggressiveness, timing, and skill - and if you have enough aggressiveness at the right time, you don&#39;t need that much skill. We all know that in good times, the highest returns often go to the person whose portfolio incorporates the most risk, beta, and correlation. Having such a portfolio isn&#39;t a mark of distinction or insight if the investor is a perma-bull who&#39;s always positioned aggressively. Finally, random events can have an overwhelming impact on returns - in either direction - in a given quarter or year.</p><p>One of the recurring themes in my memos is the idea that the quality of a decision cannot be determined by the outcome alone. Decisions often lead to negative outcomes even when they&#39;re well-reasoned and based on all the available information. On the other hand, we all know people - even occasionally ourselves - who&#39;ve been right for the wrong reason. Hidden information and random developments can frustrate even the best thinkers&#39; decisions. (However, when outcomes are considered over a long period of time and a large number of trials, the better decision maker is overwhelmingly likely to have a higher proportion of successes.)</p><p><b>Obviously, no one should attach much significance to returns in one quarter or year. Investment performance is simply one result drawn from the full range of returns that could have materialized, and in the short term, it can be heavily influenced by random events. Thus, a single quarter&#39;s return is likely to be a very weak indicator of an investor&#39;s ability, if that.</b> Deciding whether a manager has a special skill - or whether an asset allocation is appropriate for the long run - on the basis of one quarter or year is like forming an opinion of a baseball player on the basis of one trip to the plate, or of a racehorse based on one race.</p><p>We know short-term performance doesn&#39;t matter much. And yet, most of the investment committees I&#39;ve sat on have had the latest quarter&#39;s performance as the first item on the agenda and devoted a meaningful portion of each meeting to it. The discussion is usually extensive, but it rarely leads to significant action. So why do we keep doing it? For the same reasons investors pay attention to forecasting, as described in <i>The Illusion of Knowledge</i>: &#34;everyone does it,&#34; and &#34;it would be irresponsible not to.&#34;</p><h2>What Doesn&#39;t Matter: Volatility</h2><p>I haven&#39;t written much about volatility, other than to say I strongly disagree with people who consider it the definition or essence of risk. I&#39;ve described my belief that the academics who developed the Chicago School theory of investment in the early 1960s (A) wanted to examine the relationship between investment returns and risk, (B) needed a number quantifying risk that they could put into their calculations, and (C) undoubtedly chose volatility as a proxy for risk for the simple reason that it was the only quantifiable metric available. I define risk as the probability of a bad outcome, and volatility is, at best, an indicator of the presence of risk. But volatility is not risk. That&#39;s all I&#39;m going to say on that subject.</p><p><b>What I want to talk about here is the extent to which thinking and caring about volatility has warped the investing world over the 50-plus years that I&#39;ve been in it.</b> It was a great advantage for me to have attended the Graduate School of Business at the University of Chicago in the late &#39;60s and to have been part of one of the very first classes that taught new theories. I learned about the efficient market hypothesis, the capital asset pricing model, the random walk, the importance of risk aversion, and the role of volatility as risk. While volatility wasn&#39;t a topic of conversation when I got into the real world of investing in 1969, the practice soon caught up with the theory.</p><p>In particular, the Sharpe ratio was adopted as the measure of risk-adjusted return. It&#39;s the ratio of a portfolio&#39;s excess return (the part of its return that exceeds the yield on T-bills) to its volatility. The more return per unit of volatility, the higher the risk-adjusted return. Risk adjustment is an essential concept, and returns should absolutely be evaluated relative to the risk that was taken to achieve them. Everyone cites Sharpe ratios, including Oaktree, because it&#39;s the only quantitative tool available for the job. (If investors, consultants, and clients didn&#39;t use the Sharpe ratio, they&#39;d have no metric at all, and if they tried to substitute fundamental riskiness for volatility in their assessments, they&#39;d find that there&#39;s no way to quantify it.) <b>The Sharpe ratio may hint at risk-adjusted performance in the same way that volatility hints at risk, but since volatility isn&#39;t risk, the Sharpe ratio is a very imperfect measure.</b></p><p>Take, for example, one of the asset classes I started working with in 1978: high-yield bonds. At Oaktree, we think moderately-above-benchmark returns can be produced with substantially less risk than the benchmark, and this shows up in superior Sharpe ratios. But the real risk in high-yield bonds - the one we care about and have a history of reducing - is the risk of default. We don&#39;t much care about reducing volatility, and we don&#39;t take conscious steps to do so. We believe high Sharpe ratios can result from - and perhaps are correlated with - the actions we take to reduce defaults.</p><p><b>Volatility is particularly irrelevant in our of fixed income or &#34;credit.&#34;</b> Bonds, notes, and loans represent contractual promises of periodic interest and repayment at maturity. <b>Most of the time when you buy a bond with an 8% yield, you&#39;ll basically get the 8% yield over its life, regardless of whether the bond price goes up or down in the interim.</b> I say &#34;basically&#34; because, if the price falls, you&#39;ll have the opportunity to reinvest the interest payments at yields above 8%, so your holding-period return will creep up. Thus, the downward price volatility that so many revile is actually a good thing - as long as it doesn&#39;t presage defaults. (Note that, as indicated in this paragraph, &#34;volatility&#34; is often a misnomer. Strategists and the media often warn that &#34;there may be volatility ahead.&#34; What they really mean is &#34;there may be price declines ahead.&#34; No one worries about, or minds experiencing, volatility to the upside.)</p><p><b>It&#39;s essential to recognize that protection from volatility generally isn&#39;t a free good. Reducing volatility for its own sake is a sub-optimizing strategy: It should be presumed that favoring lower-volatility assets and approaches will - all things being equal - lead to lower returns.</b> Only managers with superior skill, or alpha (see page 11), will be able to overcome this negative presumption and reduce return less than they reduce volatility.</p><p>Nevertheless, since many clients, bosses, and other constituents are uncomfortable with radical ups and downs (well, mostly with downs), asset managers often take steps to reduce volatility. Consider what happened after institutional investors began to pile into hedge funds following the three-year decline of stocks brought on by the bursting of the tech bubble in 2000. (This was the first three-year decline since 1939-41.) Hedge funds - previously members of a cottage industry where most funds had a few hundred million dollars of capital from wealthy individuals - did much better than stocks in the downdraft. Institutions were attracted to these funds&#39; low volatility, and thus invested billions in them.</p><p>The average hedge fund delivered the stability the institutions wanted. But somewhere in the shuffle, the idea of earning high returns with low volatility got lost. Instead, hedge fund managers pursued low volatility as a goal in itself, since they knew it was what the institutions were after. As a result, over roughly the last 18 years, the average hedge fund delivered the low volatility that was desired, but it was accompanied by modest single-digit returns. No miracle there.</p><p><b>Why do I recite all this? Because volatility is just a temporary phenomenon (assuming you survive it financially), and most investors shouldn&#39;t attach as much importance to it as they seem to.</b> As I wrote in <i>I Beg to Differ</i>, many investors have the luxury of being able to focus exclusively on the long term... if they will take advantage of it. Volatility should be less of a concern for investors:</p><ul><li>whose entities are long-lived, like life insurance companies, endowments, and pension funds;</li><li>whose capital isn&#39;t subject to lump-sum withdrawal;</li><li>whose essential activities won&#39;t be jeopardized by downward fluctuations;</li><li>who don&#39;t have to worry about being forced into mistakes by their constituents; and</li><li>who hasn&#39;t levered up with debt that might have to be repaid in the short run?</li></ul><p>Most investors lack some of these things, and few have them all. But to the extent these characteristics are present, investors should take advantage of their ability to withstand volatility, since many investments with the potential for high returns might be susceptible to substantial fluctuations.</p><p><b>Warren Buffett always puts it best, and on this topic, he usefully said, &#34;We prefer a lumpy 15% return to a smooth 12% return.&#34; Investors who&#39;d rather have the reverse - who find a smooth 12% preferable to a lumpy 15% - should ask themselves whether their aversion to volatility is mostly financial or mostly emotional.</b></p><p>Of course, the choices made by employees, investment committee members, and hired investment managers may have to reflect real-world considerations. People in charge of institutional portfolios can have valid reasons for avoiding ups and downs that their organizations or clients might be able to stomach in financial terms but would still find unpleasant. All anyone can do is the best they can under their particular circumstances. <b>But my bottom line is this: In many cases, people accord volatility far more important than they should.</b></p><h2>An Aside</h2><p>While I&#39;m on the subject of volatility, I want to turn to an area that hasn&#39;t reported much of it of late: private investment funds. The first nine months of 2022 constituted one of the worst periods on record for both stocks and bonds. Yet, many private equities and private debt funds are reporting only small losses for the year to date. I&#39;m often asked what this means, and whether it reflects reality.</p><p>Maybe the performance of private funds is being reported accurately. (I know we believe ours is.) But I recently came across an interesting <i>Financial Times</i> article provocatively titled, &#34;The volatility laundering, return manipulation and &#39;phoney happiness&#39; of private equity,&#34; by Robin Wigglesworth. Here&#39;s some of its content:</p><p>The widening performance gap between public and private markets is a huge topic these days. Investors have often seen as the gormless [foolish] dupes falling for the &#34;return manipulation&#34; of cunning private equity tycoons. But what if they are co-conspirators?...</p><p>That&#39;s what a new paper from three academics at the University of Florida argues. Based on nearly two decades worth of private equity real estate funds data, Blake Jackson, David Ling, and Andy Naranjo conclude that &#34;private equity fund managers manipulate returns to cater to their investors.&#34;</p><p><b>...Jackson, Ling, and Naranjo&#39;s... central conclusion is that &#34;GPs do not appear to manipulate interim returns to fool their LPs, but rather because their LPs want them to do so&#34;.</b></p><p>Similar to the idea that banks design financial products to cater to yield-seeking investors or firms issue dividends to cater to investor demand for dividend payments, we argue that PE fund managers boost interim performance reports to cater to some investors&#39; demand for manipulated returns.</p><p>...<b>If a GP boosts or smooths returns,...investment managers within LP organizations can report artificially higher Sharpe ratios, alphas, and top-line returns, such as IRRs, to their trustees or other overseers.</b> In doing so, these investment managers, whose median tenure of four years often expires years before the ultimate returns of a PE fund are realized, might improve their internal job security or potential labor market outcomes...</p><p>This probably helps explain why private equity firms on average actually reported gains of 1.6 percent in the first quarter of 2022 and only some modest marks downwards since then, despite global equities losing 22 percent of their value this year. (November 2, 2022. Emphasis added)</p><p>If both GPs and LPs are happy with returns that seem unusually good, might the result be suspect? Is the performance of private assets being stated accurately? Is the low volatility being reported genuine? If the current business climate is challenging, shouldn&#39;t that affect the prices of public and private investments alike?</p><p>But there&#39;s another series of relevant questions: Mightn&#39;t it be fair for GPs to decline to mark down private investments in companies that have experienced short-term weakness but whose long-term prospects remain bright? And while private investments might not have been marked down enough this year, isn&#39;t it true that the prices of public securities are more volatile than they should be, overstating the changes in long-term value? I certainly think public security prices reflect psychological swings that are often excessive. Should the prices of private investments emulate this?</p><p>As with most things, any inaccuracy in reporting will eventually come to light. Eventually, private debt will mature, and private equity holdings will have to be sold. If the returns being reported this year understate the real declines in value, performance from here on out will likely look surprisingly poor. And I&#39;m sure this will lead plenty of academics (and maybe a few regulators) to question whether the pricing of private investments in 2022 was too high. We&#39;ll see.</p><h2>What Doesn&#39;t Matter: Hyper-Activity</h2><p>In <i>Selling Out</i> (January 2022), I expressed my strong view that most investors trade too much. Since it&#39;s hard to make multiple consecutive decisions correctly, and trading costs money and is often likely to result from an investor&#39;s emotional swings, it&#39;s better to do less of it.</p><p><b>When I was a boy, there was a popular saying: Don&#39;t just sit there; do something. But for investing, I&#39;d invert it: Don&#39;t just do something; sit there.</b> Develop the mindset that you don&#39;t make money on what you buy and sell; you make money (hopefully) on what you hold. Think more. Trade less. Make fewer, but more consequential, trades. Over-diversification reduces the importance of each trade; thus it can allow investors to take actions without adequate investigation or great conviction. I think most portfolios are over-diversified and over-traded.</p><p>I devoted a good portion of <i>The Illusion of Knowledge</i> and <i>Selling Out</i> to warn investors about how difficult it is to improve returns through short-term market timing, and I quoted the great investor Bill Miller: &#34;Time, not timing, is key to building wealth in the stock market.&#34;</p><p>On this subject, I was recently asked by a consultant, &#34;If you don&#39;t try to get in and out of the market as appropriate, how do you earn your fees?&#34; My answer was that it&#39;s our job to assemble portfolios that will perform well over the long run, and market timing is unlikely to add to the outcome unless it can be done well, which I&#39;m not convinced is usually the case. &#34;What about you?&#34; I asked. &#34;If you help a client establish an appropriate asset allocation, does it follow that you&#39;re not earning your fees if you don&#39;t change it a month later?&#34;</p><p>Likewise, the day <i>The Illusion of Knowledge</i> came out, an old friend asked me, &#34;But you have to take a position [on short-run events], don&#39;t you?&#34; My answer, predictably, was, &#34;No, not if you don&#39;t have an advantage when doing so. Why would you bet on the outcome of a coin toss, especially if it costs money to play?&#34;</p><p>I&#39;ll end my discussion of this subject with a wonderful citation:</p><p>A news item that has gotten a lot of attention recently concerned an internal performance review of Fidelity accounts to determine which type of investors received the best returns between 2003 and 2013. The customer account audit revealed that the best investors were either dead or inactive - the people who switched jobs and &#34;forgot&#34; about an old 401(K) leaving the current options in place, or the people who died and the assets were frozen while the estate handled the assets. (&#34;Fidelity&#39;s Best Investors Are Dead,&#34; <i>The Conservative Income Investor</i>, April 8, 2020)</p><p>Since the journalists have been unable to find the Fidelity study, and apparently so has Fidelity, the story is probably apocryphal. But I still like the idea, since the conclusion is so much in line with my thinking. <b>I&#39;m not saying it&#39;s worth dying to improve investment performance, but it might be a good idea for investors to simulate that condition by sitting on their hands.</b></p><h2>So What Does Matter?</h2><p><b>What really matters is the performance of your holdings over the next five or ten years (or more) and how the value at the end of the period compares to the amount you invested and to your needs.</b> Some people say the long run is a series of short runs, and if you get those right, you&#39;ll enjoy success in the long run. They might think the route to success consists of trading often in order to capitalize on relative value assessments, predictions regarding swings in popularity, and forecasts of macro events. I obviously do not.</p><p>Most individual investors and anyone who understands the limitations regarding outperformance would probably be best off holding index funds over the long run. Investment professionals and others who feel they need or want to engage in active management might benefit from the following suggestions.</p><p>I think most people would be more successful if they focused less on the short-run or macro trends and instead worked hard to gain superior insight concerning the outlook for fundamentals over multi-year periods in the future. They should:</p><ul><li><p>study companies and securities, assessing things such as their earnings potential;</p></li><li><p>buy the ones that can be purchased at attractive prices relative to their potential;</p></li><li><p>hold onto them as long as the company&#39;s earnings outlook and the attractiveness of the price remain intact; and</p></li><li><p>make changes only when those things can&#39;t be reconfirmed, or when something better comes along.</p></li></ul><p><b>At the London conference mentioned on page one - while I was discussing (and discouraging) paying attention to the short run - I said that at Oaktree we consider it our job to (A) buy debt that will be serviced as promised (or will return the same amount or more if not) and (B) invest in companies that will become more valuable over time. I&#39;ll stick with that.</b></p><p>The above description of the investor&#39;s job is quite simple... some might say simplistic. And it is. Setting out the goals and the process in broad terms is easy. The hard part is executing better than most people: That&#39;s the only route to market-beating performance. <b>Since average decision-making is reflected in security prices and produces average performance, superior results have to be based on superior insight.</b> But I can&#39;t tell you how to do these things better than the average investor.</p><p>There&#39;s a lot more to the process, and I&#39;m going to outline some of what I think are key elements to remember. You&#39;ll recognize recurring themes here, from other memos, and from earlier pages in this one, but I make no apology for dwelling on things that are important:</p><ul><li><p>Forget the short run - only the long run matters. Think of securities as interests in companies, not trading cards.</p></li><li><p>Decide whether you believe in market efficiency. If so, is your market sufficiently inefficient to permit outperformance, and are you up to the task of exploiting it?</p></li><li><p>Decide whether your approach will lean more toward aggressiveness or defensiveness. Will you try to find more and bigger winners or focus on avoiding losers, or both? Will you try to make more on the way up or lose less on the down, or both? (Hint: &#34;both&#34; is much harder to achieve than one or the other.) In general, people&#39;s investment styles should fit their personalities.</p></li><li><p>Think about what your normal risk posture should be - your normal balance between aggressiveness and defensiveness - based on your or your clients&#39; financial position, needs, aspirations, and ability to live with fluctuations. Consider whether you&#39;ll vary your balance depending on what happens in the market.</p></li><li><p>Adopt a healthy attitude toward return and risk. Understand that &#34;the more return potential, the better&#34; can be a dangerous rule to follow given that increased return potential is usually accompanied by increased risk. On the other hand, completely avoiding risk usually leads to avoiding return as well.</p></li><li><p>Insist on an adequate margin of safety, or the ability to weather periods when things go less well than you expected.</p></li><li><p>Stop trying to predict the macro; study the micro like mad in order to know your subject better than others. Understand that you can expect to succeed only if you have a knowledge advantage, and be realistic about whether you have it or not. Recognize that trying harder isn&#39;t enough. Accept my son Andrew&#39;s view that merely possessing &#34;readily available quantitative information regarding the present&#34; won&#39;t give you above-average results, since everyone else has it.</p></li><li><p>Recognize that psychology swings much more than fundamentals, and usually in the wrong direction or at the wrong time. Understand the importance of resisting those swings. Profit if you can by being counter-cyclical and contrarian.</p></li><li><p>Study conditions in the investment environment - especially investor behavior - and consider where things stand in terms of the cycle. Understand that where the market stands in its cycle will strongly influence whether the odds are in your favor or against you.</p></li><li><p>Buy debt when you like the yield, not for trading purposes. In other words, buy 9% bonds if you think the yield compensates you for the risk, and you&#39;ll be happy with 9%. Don&#39;t buy 9% bonds expecting to make 11% thanks to price appreciation resulting from declining interest rates.</p></li></ul><p><b>Of critical importance, equity investors should make their primary goals (A) participating in the secular growth of economies and companies and (B) benefiting from the wonder of compounding.</b> Think about the 10.5% yearly return of the S&amp;P 500 Index (or its predecessors) since 1926 and the fact that this would have turned $1 into over $13,000 by now, even though the period witnessed 16 recessions, one Great Depression, several wars, one World War, a global pandemic, and many instances of geopolitical turmoil.</p><p><b>Think of participating in the long-term performance of the average as the main event and the active efforts to improve on it as &#34;embroidery around the edges.&#34;</b> This might be the reverse of most active investors&#39; attitudes. Improving results through over- and underweighting, short-term trading, market timing, and other active measures aren&#39;t easy. <b>Believing you can do these things successfully requires the assumption that you&#39;re smarter than a bunch of very smart people. Think twice before proceeding, as the requirements for success are high (see below).</b></p><p>Don&#39;t mess it up by over-trading. Think of buying and selling as an expense item, not a profit center. I love the idea of the automated factory of the future, with one man and one dog; The dog&#39;s job is to keep the man from touching the machinery, and the man&#39;s job is to feed the dog. <b>Investors should find a way to keep their hands off their portfolios most of the time.</b></p><h2>A Special Word in Closing: Asymmetry</h2><p><b>&#34;Asymmetry&#34; is a concept I&#39;ve been conscious of for decades and consider more important with every passing year. It&#39;s my word for the essence of investment excellence and a standard against which investors should be measured.</b></p><p>First, some definitions:</p><ul><li><p>I&#39;m going to talk below about whether an investor has &#34;alpha.&#34; Alpha is technically defined as a return in excess of the benchmark return, but I prefer to think of it as a superior investing skill. It&#39;s the ability to find and exploit inefficiencies when they&#39;re present.</p></li><li><p>Inefficiencies - mispricings or mistakes - represent instances when an asset&#39;s price diverges from its fair value. These divergences can show up as bargains or the opposite, over-pricings.</p></li><li><p>Bargains will dependably perform better than other investments over time after adjustment for their riskiness. Over-pricings will do the opposite.</p></li><li><p>&#34;Beta&#34; is an investor&#39;s or a portfolio&#39;s relative volatility, also described as relative sensitivity or systematic risk.</p></li></ul><p>People who believe in the efficient market hypothesis think of a portfolio&#39;s return as the product of the market&#39;s return multiplied by the portfolio&#39;s beta. This is all it takes to explain results since there are no mispricings to take advantage of in an efficient market (and so no such thing as alpha). <b>Thus, alpha is a skill that enables an investor to produce performance better than that which is explained purely by market return and beta.</b> Another way to say this is that having alpha allows an investor to enjoy profit potential that is disproportionate to loss potential: asymmetry. In my view, asymmetry is present when an investor can repeatedly do some or all of the following:</p><ul><li><p>make more money in good markets than he gives back in bad markets,</p></li><li><p>have more winners than losers,</p></li><li><p>make more money on his winners than he loses on his losers,</p></li><li><p>do well when his aggressive or defensive bias proves timely but not badly when it doesn&#39;t,</p></li><li><p>do well when his sector or strategy is in favor but not badly when it isn&#39;t, and</p></li><li><p>construct portfolios so that most of the surprises are on the upside.</p></li></ul><p>For example, most of us have an inherent bias toward either aggressiveness or defensiveness. For this reason, it doesn&#39;t mean much if an aggressive investor outperforms in a good year or a defensive investor outperforms in a bad year. To determine whether they have alpha and produce asymmetry, we have to consider whether the aggressive investor is able to avoid the full loss that his aggressiveness alone would produce in a bad market and whether the defensive investor can avoid missing out on too much of the gain when the market does well. <b>In my opinion, &#34;excellence&#34; lies in the asymmetry between the results in good and bad times.</b></p><p><b>As I see it, if inefficiencies are present in an investor&#39;s market, and she has alpha, the impact will show up in asymmetrical returns. If her returns show no asymmetry, the investor doesn&#39;t have alpha (or perhaps there are no inefficiencies for her to identify). Flipping that over, if an investor doesn&#39;t have alpha, her returns won&#39;t be asymmetrical. It&#39;s as simple as that.</b></p><p>To simplify, here&#39;s what I think about asymmetry. This discussion is based on material I included in my 2018 book <i>Mastering the Market Cycle:Getting the Odds on Your Side</i>. While I may appear to be talking about one good year and one bad one, these observations can only be considered valid if these patterns hold over a meaningful number of years.</p><p>Let&#39;s consider a manager&#39;s performance:</p><table><tbody><tr><td>Market performance</td><td>+10%</td><td>-10%</td></tr><tr></tr><tr><td>Manager A</td><td>+10%</td><td>-10%</td></tr></tbody></table><p>The above manager clearly adds no value. You might as well invest in an index fund (probably at a much lower fee).</p><p>These two managers also add no value:</p><table><tbody><tr><td>Market performance</td><td>+10%</td><td>-10%</td></tr><tr></tr><tr><td>Manager B</td><td>+5%</td><td>-5%</td></tr><tr><td>Manager C</td><td>+20%</td><td>-20%</td></tr></tbody></table><p>Manager B is just a no-alpha manager with a beta of 0.5, and manager C is a no-alpha manager with a beta of 2.0. You could get the same results as manager B by putting half your capital in an index fund and keeping the rest under your mattress and in the case of manager C, by doubling your investment with borrowed capital and putting it all in an index fund.</p><p>These two managers, however, do have alpha, as they exhibit asymmetry:</p><table><tbody><tr><td>Market performance</td><td>+10%</td><td>-10%</td></tr><tr></tr><tr><td>Manager D</td><td>+17%</td><td>-12%</td></tr><tr><td>Manager E</td><td>+9%</td><td>-3%</td></tr></tbody></table><p>Both managers&#39; returns reflect more of the market&#39;s gain in good times than they do its loss in bad ones. Manager D might be described as an aggressive manager with alpha; she achieves 170% of the market&#39;s return when the market rises but suffers only 120% of the loss when it falls. Manager E is a defensive manager with alpha; his returns reflect 90% of the gain in an up market but only 30% of the loss in a down market. These asymmetries can only be attributed to the presence of alpha. Risk-tolerant clients will prefer to invest in D, and risk-averse ones will prefer E.</p><p>This manager is truly exceptional:</p><table><tbody><tr><td>Market performance</td><td>+10%</td><td>-10%</td></tr><tr></tr><tr><td>Manager F</td><td>+20%</td><td>-5%</td></tr></tbody></table><p>She beat the market in both directions: She&#39;s up more than the market when it rises and down less when it falls. She&#39;s up so much in a good market that you might be tempted to describe her as aggressive. But since she&#39;s down less in a down market, that description won&#39;t hold. Either she doesn&#39;t have a bias in terms of aggressiveness versus defensiveness, or her alpha is great enough to offset it.</p><p>Finally, here&#39;s one of the greatest managers of all time:</p><table><tbody><tr><td>Market performance</td><td>+10%</td><td>-10%</td></tr><tr></tr><tr><td>Manager G</td><td>+20%</td><td>+5%</td></tr></tbody></table><p>Manager G is up in good and bad markets alike. He clearly doesn&#39;t have an aggressiveness/defensiveness bias, since his performance is exceptional in both markets. His alpha is sufficient to enable him to buck the trend and achieve a positive return in a down year. When you find Manager G, you should (A) do extensive due diligence regarding his reported performance, (B) if the numbers hold up, invest a lot of money with him, (C) hope he won&#39;t accept so much money that his edge goes away, and (D) send me his number.</p><p>What matters most? Asymmetry.</p><ul><li><p>In sum, asymmetry shows up in a manager&#39;s ability to do very well when things go his way and not too bad when they don&#39;t.</p></li><li><p>A great adage says, &#34;Never confuse brains and a bull market.&#34; Managers with the skill needed to produce asymmetry are special because they&#39;re able to fashion good gains from sources other than market advances.</p></li><li><p><b>When you think about it, the active investment business is, at its heart, completely about asymmetry. If a manager&#39;s performance doesn&#39;t exceed what can be explained by market returns and his relative risk posture - which stems from his choice of market sector, tactics, and level of aggressiveness - he simply hasn&#39;t earned his fees.</b></p></li></ul><p>Without asymmetry (see Managers A, B, and C on page 12), active management delivers no value and deserves no fees. <b>Indeed, all the choices an active investor makes will be for naught if he doesn&#39;t possess superior skill or insight.</b> By definition, average investors and below-average investors don&#39;t have alpha and can&#39;t produce asymmetry.</p><p>The big question is how to achieve asymmetry. Most of the things people focus on - the things I describe on pages one through nine as not mattering - can&#39;t provide it. As I&#39;ve said before, the average of all investors&#39; thinking produces market prices and, obviously, average performance. <b>Asymmetry can only be demonstrated by the relatively few people with superior skill and insight.</b> The key lies in finding them.</p><p><i><b>Editor&#39;s Note:</b></i><i> The summary bullets for this article were chosen by Seeking Alpha editors.</i></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Latest Memo From Howard Marks: What Really Matters?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLatest Memo From Howard Marks: What Really Matters?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-24 23:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4560095-latest-memo-from-howard-marks-what-really-matters><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryThe vast majority of investors can’t know for sure what macro events lie just ahead or how the markets will react to the things that do happen.Most people buy stocks with the goal of selling ...</p>\n\n<a href=\"https://seekingalpha.com/article/4560095-latest-memo-from-howard-marks-what-really-matters\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://seekingalpha.com/article/4560095-latest-memo-from-howard-marks-what-really-matters","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2285384020","content_text":"SummaryThe vast majority of investors can’t know for sure what macro events lie just ahead or how the markets will react to the things that do happen.Most people buy stocks with the goal of selling them at a higher price, thinking they’re for trading, not for owning.Most individual investors and anyone who understands the limitations regarding outperformance would probably be best off holding index funds over the long run.We AreI've gathered a few ideas from several of my memos this year - plus some recent musings and conversations - to form the subject of this memo: what really matters or should matter for investors. I'll start by examining a number of things that I think don't matter.What Doesn't Matter: Short-Term EventsIn The Illusion of Knowledge (September 2022), I railed against macro forecasting, which in our profession mostly concerns the next year or two. And in I Beg to Differ (July 2022), I discussed the questions I was asked most frequently at Oaktree's June 21 conference in London: How bad will inflation get? How much will the Fed raise interest rates to fight it? Will those increases cause a recession? How bad and for how long? The bottom line, I told the attendees, was that these things all relate to the short term, and this is what I know about the short term:Most investors can't do a superior job of predicting short-term phenomena like these.Thus, they shouldn't put much stock in opinions on these subjects (theirs or those of others).They're unlikely to make major changes in their portfolios in response to these opinions.The changes they do make are unlikely to be consistently right.Thus, these aren't the things that matter.Consider an example. In response to the first tremors of the Global Financial Crisis, the Federal Reserve began to cut the fed funds rate in 3Q2007. They then lowered it to zero around the end of 2008 and left it there for seven years. In late 2015, virtually the only question I got was \"When will the first rate increase occur?\" My answer was always the same: \"Why do you care? If I say 'February,' what will you do? And if I later change my mind and say 'May,' what will you do differently? If everyone knows rates are about to rise, what difference does it make which month the process starts?\" No one ever offered a convincing answer. Investors probably think asking such questions is part of behaving professionally, but I doubt they could explain why.The vast majority of investors can't know for sure what macro events lie just ahead or how the markets will react to the things that do happen. In The Illusion of Knowledge, I wrote at length about the way unforeseen events make a hash of economic and market forecasts. In summary, most forecasts are extrapolations, and most of the time things don't change, so extrapolations are usually correct, but not particularly profitable. On the other hand, accurate forecasts of deviations from trends can be very profitable, but they're hard to make and hard to act on. These are some of the reasons why most people can't predict the future well enough to repeatably produce superior performance.Why is doing this so hard? Don't most of us know what events are likely to transpire? Can't we just buy the securities of the companies that are most likely to benefit from those events? In the long run, maybe, but I want to turn to a theme that Bruce Karsh has been emphasizing lately, regarding a major reason why it's particularly challenging to profit from a short-term focus: It's verydifficult to know which expectations regarding events are already incorporated in security prices.One of the critical mistakes people are guilty of - we see it all the time in the media - is believing that changes in security prices are the result of events: that favorable events lead to rising prices and negative events lead to falling prices. I think that's what most people believe - especially first-level thinkers - but that's not right. Security prices are determined by events and how investors react to those events, which is largely a function of how the events stack up against investors' expectations.How can we explain a company that reports higher earnings, only to see its stock price drop? The answer, of course, is that the reported improvement fell short of expectations and thus disappointed investors. So, at the most elementary level, it's not whether the event is simply positive or not, but how the event compares with what was expected.In my earliest working years, I used to spend a few minutes each day looking over the earnings reports printed in The Wall Street Journal. But after a while, it dawned on me that since I didn't know what numbers had been expected, I had no idea whether an announcement from a company I didn't follow was good news or bad.Investors can become experts regarding a few companies and their securities, but no one is likely to know enough about macro events to (A) be able to understand the macro expectations that underlie the prices of securities, (B) anticipate the broad events, and (C) predict how those securities will react. Where can a prospective buyer look to find out what the investors who set securities prices already anticipate in terms of inflation, GDP, or unemployment? Inferences regarding expectations can sometimes be drawn from asset prices, but the inferred levels often aren't proved correct when the actual results come in.Further, in the short term, security prices are highly susceptible to random and exogenous events that can swamp the impact of fundamental events. Macro events and the ups and downs of companies' near-term fortunes are unpredictable and not necessarily indicative of - or relevant to - companies' long-term prospects. So little attention should be paid to them. For example, companies often deliberately reduce current earnings by investing in the future of their businesses; thus, low reported earnings can imply high future earnings, not continued low earnings. To know the difference, you have to have an in-depth understanding of the company.No one should be fooled into thinking security pricing is a dependable process that accurately follows a set of rules. Events are unpredictable; they can be altered by unpredictable influences, and investors' reactions to the events that occur are unpredictable. Due to the presence of so much uncertainty, most investors are unable to improve their results by focusing on the short term.It's clear from observation that security prices fluctuate much more than economic output or company profits. What accounts for this? It must be the fact that, in the short term, the ups and downs of prices are influenced far more by swings in investor psychology than by changes in companies' long-term prospects. Because swings in psychology matter more in the near term than changes in fundamentals - and are so hard to predict - most short-term trading is a waste of time... or worse.What Doesn't Matter: The Trading MentalityOver the years, my memos have often included some of my father's jokes from the 1950s, based on my strong belief that humor often reflects truths about the human condition. Given its relevance here, I'm going to devote a bit of space to a joke I've shared before:I include this old joke because I believe most people treat stocks and bonds like something to trade, not something to own.If you ask Warren Buffett to describe the foundation of his approach to investing, he'll probably start by insisting that stocks should be thought of as ownership interests in companies. Most people don't start companies with the goal of selling them in the short term, but rather they seek to operate them, enjoy profitability, and expand the business. Of course, founders do these things to ultimately make money, but they're likely to view the money as the byproduct of having run a successful business. Buffett says people who buy stocks should think of themselves as partners of owners with whom they share goals.But I think that's rarely the case. Most people buy stocks with the goal of selling them at a higher price, thinking they're for trading, not for owning. This means they abandon the owner mentality and instead act like gamblers or speculators who bet on stock price moves. The results are often unpleasant.The DALBAR Institute 2012 study showed that investors receive three percentage points less per year than the S&P 500 generated from 1992 to 2012, and the average holding period for a typical investor is six months. Six Months!! When you hold a stock for less than a year, you are not using the stock market to acquire business ownership positions and participate in the growth of that business. Instead, you are just guessing at short-term news and expectations, and your returns are based on how other people react to that news information. In aggregate, that kind of attitude gets you three percentage points less per year than you'd get from doing nothing at all beyond making the initial investment in the index fund of the S&P 500. (\"Fidelity's Best Investors Are Dead,\" The Conservative Income Investor, April 8, 2020)To me, buying for a short-term trade equates to forgetting about your sports team's chances of winning the championship and instead betting on who's going to succeed in the next play, period, or inning.Let's think about the logic. You buy a stock because you think it's worth more than you have to pay for it, whereas the seller considers it fully priced. Someday, if things go well, it'll become fully priced, in your opinion, meaning you'll sell it. The person you sell it to, however, will buy it because he thinks it's worth still more. We used to talk about this process as being reliant on the Greater Fool Theory: No matter what price I pay for a stock, there will always be someone who will buy it from me for more, despite the fact that I'm selling because I've concluded that it has reached full value.Every buyer is motivated by the belief that the stock will eventually be worth more than today's price (a view the seller presumably doesn't share). The key question is what type of thinking underlies these purchases. Are the buyers buying because this is a company they'd like to own a piece of for years? Or are they merely betting that the price will go up? The transactions may look the same from the outside, but I wonder about the thought process and thus the soundness of the logic.Each time a stock is traded, one side is wrong and one is right. But if what you're doing is betting on trends in popularity, and thus the direction of price moves over the next month, quarter, or year, is it realistic to believe you'll be right more often than the person on the other side of the trade? Maybe the decline of active management can be attributed to the many active managers who placed bets on the direction of stock prices in the short term, instead of picking companies they wanted to own part of for years. It's all a matter of the underlying mentality.I had a long debate on this topic with my father back in 1969, when I lived with him during my first months at First National City Bank. (It's amazing for me to think back to those days; he was so much younger than I am today.) I told him I thought buying a stock should be motivated by something other than the hope that the price would rise, and I suggested this might be the expectation that dividends would increase over time. He countered that no one buys stocks for the dividends - they buy because they think the price will go up. But what would trigger the rise?Wanting to own a business for its commercial merit and long-term earnings potential is a good reason to be a stockholder, and if these expectations are borne out, a good reason to believe the stock price will rise. In the absence of that, buying in the hope of appreciation merely amounts to trying to guess which industries and companies investors will favor in the future. Ben Graham famously said, \"In the short run, a market is a voting machine, but in the long run, it is a weighing machine.\" While none of this is easy, as Charlie Munger once told me, carefully weighing long-term merit should produce better results than trying to guess at short-term swings in popularity.What Doesn't Matter: Short-Term PerformanceGiven the possible contributors to short-term investment performance, reported results can present a highly misleading picture, and here I'm talking mostly about superior gains in good times. I feel there are three ingredients for success during good times - aggressiveness, timing, and skill - and if you have enough aggressiveness at the right time, you don't need that much skill. We all know that in good times, the highest returns often go to the person whose portfolio incorporates the most risk, beta, and correlation. Having such a portfolio isn't a mark of distinction or insight if the investor is a perma-bull who's always positioned aggressively. Finally, random events can have an overwhelming impact on returns - in either direction - in a given quarter or year.One of the recurring themes in my memos is the idea that the quality of a decision cannot be determined by the outcome alone. Decisions often lead to negative outcomes even when they're well-reasoned and based on all the available information. On the other hand, we all know people - even occasionally ourselves - who've been right for the wrong reason. Hidden information and random developments can frustrate even the best thinkers' decisions. (However, when outcomes are considered over a long period of time and a large number of trials, the better decision maker is overwhelmingly likely to have a higher proportion of successes.)Obviously, no one should attach much significance to returns in one quarter or year. Investment performance is simply one result drawn from the full range of returns that could have materialized, and in the short term, it can be heavily influenced by random events. Thus, a single quarter's return is likely to be a very weak indicator of an investor's ability, if that. Deciding whether a manager has a special skill - or whether an asset allocation is appropriate for the long run - on the basis of one quarter or year is like forming an opinion of a baseball player on the basis of one trip to the plate, or of a racehorse based on one race.We know short-term performance doesn't matter much. And yet, most of the investment committees I've sat on have had the latest quarter's performance as the first item on the agenda and devoted a meaningful portion of each meeting to it. The discussion is usually extensive, but it rarely leads to significant action. So why do we keep doing it? For the same reasons investors pay attention to forecasting, as described in The Illusion of Knowledge: \"everyone does it,\" and \"it would be irresponsible not to.\"What Doesn't Matter: VolatilityI haven't written much about volatility, other than to say I strongly disagree with people who consider it the definition or essence of risk. I've described my belief that the academics who developed the Chicago School theory of investment in the early 1960s (A) wanted to examine the relationship between investment returns and risk, (B) needed a number quantifying risk that they could put into their calculations, and (C) undoubtedly chose volatility as a proxy for risk for the simple reason that it was the only quantifiable metric available. I define risk as the probability of a bad outcome, and volatility is, at best, an indicator of the presence of risk. But volatility is not risk. That's all I'm going to say on that subject.What I want to talk about here is the extent to which thinking and caring about volatility has warped the investing world over the 50-plus years that I've been in it. It was a great advantage for me to have attended the Graduate School of Business at the University of Chicago in the late '60s and to have been part of one of the very first classes that taught new theories. I learned about the efficient market hypothesis, the capital asset pricing model, the random walk, the importance of risk aversion, and the role of volatility as risk. While volatility wasn't a topic of conversation when I got into the real world of investing in 1969, the practice soon caught up with the theory.In particular, the Sharpe ratio was adopted as the measure of risk-adjusted return. It's the ratio of a portfolio's excess return (the part of its return that exceeds the yield on T-bills) to its volatility. The more return per unit of volatility, the higher the risk-adjusted return. Risk adjustment is an essential concept, and returns should absolutely be evaluated relative to the risk that was taken to achieve them. Everyone cites Sharpe ratios, including Oaktree, because it's the only quantitative tool available for the job. (If investors, consultants, and clients didn't use the Sharpe ratio, they'd have no metric at all, and if they tried to substitute fundamental riskiness for volatility in their assessments, they'd find that there's no way to quantify it.) The Sharpe ratio may hint at risk-adjusted performance in the same way that volatility hints at risk, but since volatility isn't risk, the Sharpe ratio is a very imperfect measure.Take, for example, one of the asset classes I started working with in 1978: high-yield bonds. At Oaktree, we think moderately-above-benchmark returns can be produced with substantially less risk than the benchmark, and this shows up in superior Sharpe ratios. But the real risk in high-yield bonds - the one we care about and have a history of reducing - is the risk of default. We don't much care about reducing volatility, and we don't take conscious steps to do so. We believe high Sharpe ratios can result from - and perhaps are correlated with - the actions we take to reduce defaults.Volatility is particularly irrelevant in our of fixed income or \"credit.\" Bonds, notes, and loans represent contractual promises of periodic interest and repayment at maturity. Most of the time when you buy a bond with an 8% yield, you'll basically get the 8% yield over its life, regardless of whether the bond price goes up or down in the interim. I say \"basically\" because, if the price falls, you'll have the opportunity to reinvest the interest payments at yields above 8%, so your holding-period return will creep up. Thus, the downward price volatility that so many revile is actually a good thing - as long as it doesn't presage defaults. (Note that, as indicated in this paragraph, \"volatility\" is often a misnomer. Strategists and the media often warn that \"there may be volatility ahead.\" What they really mean is \"there may be price declines ahead.\" No one worries about, or minds experiencing, volatility to the upside.)It's essential to recognize that protection from volatility generally isn't a free good. Reducing volatility for its own sake is a sub-optimizing strategy: It should be presumed that favoring lower-volatility assets and approaches will - all things being equal - lead to lower returns. Only managers with superior skill, or alpha (see page 11), will be able to overcome this negative presumption and reduce return less than they reduce volatility.Nevertheless, since many clients, bosses, and other constituents are uncomfortable with radical ups and downs (well, mostly with downs), asset managers often take steps to reduce volatility. Consider what happened after institutional investors began to pile into hedge funds following the three-year decline of stocks brought on by the bursting of the tech bubble in 2000. (This was the first three-year decline since 1939-41.) Hedge funds - previously members of a cottage industry where most funds had a few hundred million dollars of capital from wealthy individuals - did much better than stocks in the downdraft. Institutions were attracted to these funds' low volatility, and thus invested billions in them.The average hedge fund delivered the stability the institutions wanted. But somewhere in the shuffle, the idea of earning high returns with low volatility got lost. Instead, hedge fund managers pursued low volatility as a goal in itself, since they knew it was what the institutions were after. As a result, over roughly the last 18 years, the average hedge fund delivered the low volatility that was desired, but it was accompanied by modest single-digit returns. No miracle there.Why do I recite all this? Because volatility is just a temporary phenomenon (assuming you survive it financially), and most investors shouldn't attach as much importance to it as they seem to. As I wrote in I Beg to Differ, many investors have the luxury of being able to focus exclusively on the long term... if they will take advantage of it. Volatility should be less of a concern for investors:whose entities are long-lived, like life insurance companies, endowments, and pension funds;whose capital isn't subject to lump-sum withdrawal;whose essential activities won't be jeopardized by downward fluctuations;who don't have to worry about being forced into mistakes by their constituents; andwho hasn't levered up with debt that might have to be repaid in the short run?Most investors lack some of these things, and few have them all. But to the extent these characteristics are present, investors should take advantage of their ability to withstand volatility, since many investments with the potential for high returns might be susceptible to substantial fluctuations.Warren Buffett always puts it best, and on this topic, he usefully said, \"We prefer a lumpy 15% return to a smooth 12% return.\" Investors who'd rather have the reverse - who find a smooth 12% preferable to a lumpy 15% - should ask themselves whether their aversion to volatility is mostly financial or mostly emotional.Of course, the choices made by employees, investment committee members, and hired investment managers may have to reflect real-world considerations. People in charge of institutional portfolios can have valid reasons for avoiding ups and downs that their organizations or clients might be able to stomach in financial terms but would still find unpleasant. All anyone can do is the best they can under their particular circumstances. But my bottom line is this: In many cases, people accord volatility far more important than they should.An AsideWhile I'm on the subject of volatility, I want to turn to an area that hasn't reported much of it of late: private investment funds. The first nine months of 2022 constituted one of the worst periods on record for both stocks and bonds. Yet, many private equities and private debt funds are reporting only small losses for the year to date. I'm often asked what this means, and whether it reflects reality.Maybe the performance of private funds is being reported accurately. (I know we believe ours is.) But I recently came across an interesting Financial Times article provocatively titled, \"The volatility laundering, return manipulation and 'phoney happiness' of private equity,\" by Robin Wigglesworth. Here's some of its content:The widening performance gap between public and private markets is a huge topic these days. Investors have often seen as the gormless [foolish] dupes falling for the \"return manipulation\" of cunning private equity tycoons. But what if they are co-conspirators?...That's what a new paper from three academics at the University of Florida argues. Based on nearly two decades worth of private equity real estate funds data, Blake Jackson, David Ling, and Andy Naranjo conclude that \"private equity fund managers manipulate returns to cater to their investors.\"...Jackson, Ling, and Naranjo's... central conclusion is that \"GPs do not appear to manipulate interim returns to fool their LPs, but rather because their LPs want them to do so\".Similar to the idea that banks design financial products to cater to yield-seeking investors or firms issue dividends to cater to investor demand for dividend payments, we argue that PE fund managers boost interim performance reports to cater to some investors' demand for manipulated returns....If a GP boosts or smooths returns,...investment managers within LP organizations can report artificially higher Sharpe ratios, alphas, and top-line returns, such as IRRs, to their trustees or other overseers. In doing so, these investment managers, whose median tenure of four years often expires years before the ultimate returns of a PE fund are realized, might improve their internal job security or potential labor market outcomes...This probably helps explain why private equity firms on average actually reported gains of 1.6 percent in the first quarter of 2022 and only some modest marks downwards since then, despite global equities losing 22 percent of their value this year. (November 2, 2022. Emphasis added)If both GPs and LPs are happy with returns that seem unusually good, might the result be suspect? Is the performance of private assets being stated accurately? Is the low volatility being reported genuine? If the current business climate is challenging, shouldn't that affect the prices of public and private investments alike?But there's another series of relevant questions: Mightn't it be fair for GPs to decline to mark down private investments in companies that have experienced short-term weakness but whose long-term prospects remain bright? And while private investments might not have been marked down enough this year, isn't it true that the prices of public securities are more volatile than they should be, overstating the changes in long-term value? I certainly think public security prices reflect psychological swings that are often excessive. Should the prices of private investments emulate this?As with most things, any inaccuracy in reporting will eventually come to light. Eventually, private debt will mature, and private equity holdings will have to be sold. If the returns being reported this year understate the real declines in value, performance from here on out will likely look surprisingly poor. And I'm sure this will lead plenty of academics (and maybe a few regulators) to question whether the pricing of private investments in 2022 was too high. We'll see.What Doesn't Matter: Hyper-ActivityIn Selling Out (January 2022), I expressed my strong view that most investors trade too much. Since it's hard to make multiple consecutive decisions correctly, and trading costs money and is often likely to result from an investor's emotional swings, it's better to do less of it.When I was a boy, there was a popular saying: Don't just sit there; do something. But for investing, I'd invert it: Don't just do something; sit there. Develop the mindset that you don't make money on what you buy and sell; you make money (hopefully) on what you hold. Think more. Trade less. Make fewer, but more consequential, trades. Over-diversification reduces the importance of each trade; thus it can allow investors to take actions without adequate investigation or great conviction. I think most portfolios are over-diversified and over-traded.I devoted a good portion of The Illusion of Knowledge and Selling Out to warn investors about how difficult it is to improve returns through short-term market timing, and I quoted the great investor Bill Miller: \"Time, not timing, is key to building wealth in the stock market.\"On this subject, I was recently asked by a consultant, \"If you don't try to get in and out of the market as appropriate, how do you earn your fees?\" My answer was that it's our job to assemble portfolios that will perform well over the long run, and market timing is unlikely to add to the outcome unless it can be done well, which I'm not convinced is usually the case. \"What about you?\" I asked. \"If you help a client establish an appropriate asset allocation, does it follow that you're not earning your fees if you don't change it a month later?\"Likewise, the day The Illusion of Knowledge came out, an old friend asked me, \"But you have to take a position [on short-run events], don't you?\" My answer, predictably, was, \"No, not if you don't have an advantage when doing so. Why would you bet on the outcome of a coin toss, especially if it costs money to play?\"I'll end my discussion of this subject with a wonderful citation:A news item that has gotten a lot of attention recently concerned an internal performance review of Fidelity accounts to determine which type of investors received the best returns between 2003 and 2013. The customer account audit revealed that the best investors were either dead or inactive - the people who switched jobs and \"forgot\" about an old 401(K) leaving the current options in place, or the people who died and the assets were frozen while the estate handled the assets. (\"Fidelity's Best Investors Are Dead,\" The Conservative Income Investor, April 8, 2020)Since the journalists have been unable to find the Fidelity study, and apparently so has Fidelity, the story is probably apocryphal. But I still like the idea, since the conclusion is so much in line with my thinking. I'm not saying it's worth dying to improve investment performance, but it might be a good idea for investors to simulate that condition by sitting on their hands.So What Does Matter?What really matters is the performance of your holdings over the next five or ten years (or more) and how the value at the end of the period compares to the amount you invested and to your needs. Some people say the long run is a series of short runs, and if you get those right, you'll enjoy success in the long run. They might think the route to success consists of trading often in order to capitalize on relative value assessments, predictions regarding swings in popularity, and forecasts of macro events. I obviously do not.Most individual investors and anyone who understands the limitations regarding outperformance would probably be best off holding index funds over the long run. Investment professionals and others who feel they need or want to engage in active management might benefit from the following suggestions.I think most people would be more successful if they focused less on the short-run or macro trends and instead worked hard to gain superior insight concerning the outlook for fundamentals over multi-year periods in the future. They should:study companies and securities, assessing things such as their earnings potential;buy the ones that can be purchased at attractive prices relative to their potential;hold onto them as long as the company's earnings outlook and the attractiveness of the price remain intact; andmake changes only when those things can't be reconfirmed, or when something better comes along.At the London conference mentioned on page one - while I was discussing (and discouraging) paying attention to the short run - I said that at Oaktree we consider it our job to (A) buy debt that will be serviced as promised (or will return the same amount or more if not) and (B) invest in companies that will become more valuable over time. I'll stick with that.The above description of the investor's job is quite simple... some might say simplistic. And it is. Setting out the goals and the process in broad terms is easy. The hard part is executing better than most people: That's the only route to market-beating performance. Since average decision-making is reflected in security prices and produces average performance, superior results have to be based on superior insight. But I can't tell you how to do these things better than the average investor.There's a lot more to the process, and I'm going to outline some of what I think are key elements to remember. You'll recognize recurring themes here, from other memos, and from earlier pages in this one, but I make no apology for dwelling on things that are important:Forget the short run - only the long run matters. Think of securities as interests in companies, not trading cards.Decide whether you believe in market efficiency. If so, is your market sufficiently inefficient to permit outperformance, and are you up to the task of exploiting it?Decide whether your approach will lean more toward aggressiveness or defensiveness. Will you try to find more and bigger winners or focus on avoiding losers, or both? Will you try to make more on the way up or lose less on the down, or both? (Hint: \"both\" is much harder to achieve than one or the other.) In general, people's investment styles should fit their personalities.Think about what your normal risk posture should be - your normal balance between aggressiveness and defensiveness - based on your or your clients' financial position, needs, aspirations, and ability to live with fluctuations. Consider whether you'll vary your balance depending on what happens in the market.Adopt a healthy attitude toward return and risk. Understand that \"the more return potential, the better\" can be a dangerous rule to follow given that increased return potential is usually accompanied by increased risk. On the other hand, completely avoiding risk usually leads to avoiding return as well.Insist on an adequate margin of safety, or the ability to weather periods when things go less well than you expected.Stop trying to predict the macro; study the micro like mad in order to know your subject better than others. Understand that you can expect to succeed only if you have a knowledge advantage, and be realistic about whether you have it or not. Recognize that trying harder isn't enough. Accept my son Andrew's view that merely possessing \"readily available quantitative information regarding the present\" won't give you above-average results, since everyone else has it.Recognize that psychology swings much more than fundamentals, and usually in the wrong direction or at the wrong time. Understand the importance of resisting those swings. Profit if you can by being counter-cyclical and contrarian.Study conditions in the investment environment - especially investor behavior - and consider where things stand in terms of the cycle. Understand that where the market stands in its cycle will strongly influence whether the odds are in your favor or against you.Buy debt when you like the yield, not for trading purposes. In other words, buy 9% bonds if you think the yield compensates you for the risk, and you'll be happy with 9%. Don't buy 9% bonds expecting to make 11% thanks to price appreciation resulting from declining interest rates.Of critical importance, equity investors should make their primary goals (A) participating in the secular growth of economies and companies and (B) benefiting from the wonder of compounding. Think about the 10.5% yearly return of the S&P 500 Index (or its predecessors) since 1926 and the fact that this would have turned $1 into over $13,000 by now, even though the period witnessed 16 recessions, one Great Depression, several wars, one World War, a global pandemic, and many instances of geopolitical turmoil.Think of participating in the long-term performance of the average as the main event and the active efforts to improve on it as \"embroidery around the edges.\" This might be the reverse of most active investors' attitudes. Improving results through over- and underweighting, short-term trading, market timing, and other active measures aren't easy. Believing you can do these things successfully requires the assumption that you're smarter than a bunch of very smart people. Think twice before proceeding, as the requirements for success are high (see below).Don't mess it up by over-trading. Think of buying and selling as an expense item, not a profit center. I love the idea of the automated factory of the future, with one man and one dog; The dog's job is to keep the man from touching the machinery, and the man's job is to feed the dog. Investors should find a way to keep their hands off their portfolios most of the time.A Special Word in Closing: Asymmetry\"Asymmetry\" is a concept I've been conscious of for decades and consider more important with every passing year. It's my word for the essence of investment excellence and a standard against which investors should be measured.First, some definitions:I'm going to talk below about whether an investor has \"alpha.\" Alpha is technically defined as a return in excess of the benchmark return, but I prefer to think of it as a superior investing skill. It's the ability to find and exploit inefficiencies when they're present.Inefficiencies - mispricings or mistakes - represent instances when an asset's price diverges from its fair value. These divergences can show up as bargains or the opposite, over-pricings.Bargains will dependably perform better than other investments over time after adjustment for their riskiness. Over-pricings will do the opposite.\"Beta\" is an investor's or a portfolio's relative volatility, also described as relative sensitivity or systematic risk.People who believe in the efficient market hypothesis think of a portfolio's return as the product of the market's return multiplied by the portfolio's beta. This is all it takes to explain results since there are no mispricings to take advantage of in an efficient market (and so no such thing as alpha). Thus, alpha is a skill that enables an investor to produce performance better than that which is explained purely by market return and beta. Another way to say this is that having alpha allows an investor to enjoy profit potential that is disproportionate to loss potential: asymmetry. In my view, asymmetry is present when an investor can repeatedly do some or all of the following:make more money in good markets than he gives back in bad markets,have more winners than losers,make more money on his winners than he loses on his losers,do well when his aggressive or defensive bias proves timely but not badly when it doesn't,do well when his sector or strategy is in favor but not badly when it isn't, andconstruct portfolios so that most of the surprises are on the upside.For example, most of us have an inherent bias toward either aggressiveness or defensiveness. For this reason, it doesn't mean much if an aggressive investor outperforms in a good year or a defensive investor outperforms in a bad year. To determine whether they have alpha and produce asymmetry, we have to consider whether the aggressive investor is able to avoid the full loss that his aggressiveness alone would produce in a bad market and whether the defensive investor can avoid missing out on too much of the gain when the market does well. In my opinion, \"excellence\" lies in the asymmetry between the results in good and bad times.As I see it, if inefficiencies are present in an investor's market, and she has alpha, the impact will show up in asymmetrical returns. If her returns show no asymmetry, the investor doesn't have alpha (or perhaps there are no inefficiencies for her to identify). Flipping that over, if an investor doesn't have alpha, her returns won't be asymmetrical. It's as simple as that.To simplify, here's what I think about asymmetry. This discussion is based on material I included in my 2018 book Mastering the Market Cycle:Getting the Odds on Your Side. While I may appear to be talking about one good year and one bad one, these observations can only be considered valid if these patterns hold over a meaningful number of years.Let's consider a manager's performance:Market performance+10%-10%Manager A+10%-10%The above manager clearly adds no value. You might as well invest in an index fund (probably at a much lower fee).These two managers also add no value:Market performance+10%-10%Manager B+5%-5%Manager C+20%-20%Manager B is just a no-alpha manager with a beta of 0.5, and manager C is a no-alpha manager with a beta of 2.0. You could get the same results as manager B by putting half your capital in an index fund and keeping the rest under your mattress and in the case of manager C, by doubling your investment with borrowed capital and putting it all in an index fund.These two managers, however, do have alpha, as they exhibit asymmetry:Market performance+10%-10%Manager D+17%-12%Manager E+9%-3%Both managers' returns reflect more of the market's gain in good times than they do its loss in bad ones. Manager D might be described as an aggressive manager with alpha; she achieves 170% of the market's return when the market rises but suffers only 120% of the loss when it falls. Manager E is a defensive manager with alpha; his returns reflect 90% of the gain in an up market but only 30% of the loss in a down market. These asymmetries can only be attributed to the presence of alpha. Risk-tolerant clients will prefer to invest in D, and risk-averse ones will prefer E.This manager is truly exceptional:Market performance+10%-10%Manager F+20%-5%She beat the market in both directions: She's up more than the market when it rises and down less when it falls. She's up so much in a good market that you might be tempted to describe her as aggressive. But since she's down less in a down market, that description won't hold. Either she doesn't have a bias in terms of aggressiveness versus defensiveness, or her alpha is great enough to offset it.Finally, here's one of the greatest managers of all time:Market performance+10%-10%Manager G+20%+5%Manager G is up in good and bad markets alike. He clearly doesn't have an aggressiveness/defensiveness bias, since his performance is exceptional in both markets. His alpha is sufficient to enable him to buck the trend and achieve a positive return in a down year. When you find Manager G, you should (A) do extensive due diligence regarding his reported performance, (B) if the numbers hold up, invest a lot of money with him, (C) hope he won't accept so much money that his edge goes away, and (D) send me his number.What matters most? Asymmetry.In sum, asymmetry shows up in a manager's ability to do very well when things go his way and not too bad when they don't.A great adage says, \"Never confuse brains and a bull market.\" Managers with the skill needed to produce asymmetry are special because they're able to fashion good gains from sources other than market advances.When you think about it, the active investment business is, at its heart, completely about asymmetry. If a manager's performance doesn't exceed what can be explained by market returns and his relative risk posture - which stems from his choice of market sector, tactics, and level of aggressiveness - he simply hasn't earned his fees.Without asymmetry (see Managers A, B, and C on page 12), active management delivers no value and deserves no fees. Indeed, all the choices an active investor makes will be for naught if he doesn't possess superior skill or insight. By definition, average investors and below-average investors don't have alpha and can't produce asymmetry.The big question is how to achieve asymmetry. Most of the things people focus on - the things I describe on pages one through nine as not mattering - can't provide it. As I've said before, the average of all investors' thinking produces market prices and, obviously, average performance. Asymmetry can only be demonstrated by the relatively few people with superior skill and insight. The key lies in finding them.Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.","news_type":1},"isVote":1,"tweetType":1,"viewCount":46,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9968123631,"gmtCreate":1669163321124,"gmtModify":1676538160099,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9968123631","repostId":"1172587360","repostType":4,"repost":{"id":"1172587360","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1669159512,"share":"https://ttm.financial/m/news/1172587360?lang=&edition=fundamental","pubTime":"2022-11-23 07:25","market":"us","language":"en","title":"Stocks Making the Biggest Moves After Hours: HP, Manchester United, Nordstrom, Autodesk and More","url":"https://stock-news.laohu8.com/highlight/detail?id=1172587360","media":"Tiger Newspress","summary":"Nordstrom crashed over 8% in extended trading; It trimmed its annual profit forecast on Tuesday, as ","content":"<html><head></head><body><p>Nordstrom crashed over 8% in extended trading; It trimmed its annual profit forecast on Tuesday, as the retailer wrestles with supply chain pressures, higher operating costs and aggressive discounting to clear out-of-fashion inventory.</p><p>Autodesk tumbled over 9% in extended trading; It said it expected billings of $5.57 billion to $5.67 billion for its full fiscal year, which ends Jan. 31. That&#39;s a bit lower than the forecast executives gave in August for between $5.7 billion and $5.8 billion.</p><p>Manchester United gained over 8% in extended trading; Its board is launching a process to explore strategic alternatives, including new investment into the sports club and a potential sale.</p><p>HP Inc. gained nearly 2% in extended trading; It will eliminate as many as 6,000 jobs over the next three years amid declining demand for personal computers that has cut into profits. Earnings, excluding some items, will be $3.20 to $3.60 a share in the fiscal year ending in October 2023.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks Making the Biggest Moves After Hours: HP, Manchester United, Nordstrom, Autodesk and More</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks Making the Biggest Moves After Hours: HP, Manchester United, Nordstrom, Autodesk and More\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-11-23 07:25</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Nordstrom crashed over 8% in extended trading; It trimmed its annual profit forecast on Tuesday, as the retailer wrestles with supply chain pressures, higher operating costs and aggressive discounting to clear out-of-fashion inventory.</p><p>Autodesk tumbled over 9% in extended trading; It said it expected billings of $5.57 billion to $5.67 billion for its full fiscal year, which ends Jan. 31. That&#39;s a bit lower than the forecast executives gave in August for between $5.7 billion and $5.8 billion.</p><p>Manchester United gained over 8% in extended trading; Its board is launching a process to explore strategic alternatives, including new investment into the sports club and a potential sale.</p><p>HP Inc. gained nearly 2% in extended trading; It will eliminate as many as 6,000 jobs over the next three years amid declining demand for personal computers that has cut into profits. Earnings, excluding some items, will be $3.20 to $3.60 a share in the fiscal year ending in October 2023.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JWN":"诺德斯特龙","MANU":"曼联","ADSK":"欧特克","HPQ":"惠普"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172587360","content_text":"Nordstrom crashed over 8% in extended trading; It trimmed its annual profit forecast on Tuesday, as the retailer wrestles with supply chain pressures, higher operating costs and aggressive discounting to clear out-of-fashion inventory.Autodesk tumbled over 9% in extended trading; It said it expected billings of $5.57 billion to $5.67 billion for its full fiscal year, which ends Jan. 31. That's a bit lower than the forecast executives gave in August for between $5.7 billion and $5.8 billion.Manchester United gained over 8% in extended trading; Its board is launching a process to explore strategic alternatives, including new investment into the sports club and a potential sale.HP Inc. gained nearly 2% in extended trading; It will eliminate as many as 6,000 jobs over the next three years amid declining demand for personal computers that has cut into profits. Earnings, excluding some items, will be $3.20 to $3.60 a share in the fiscal year ending in October 2023.","news_type":1},"isVote":1,"tweetType":1,"viewCount":178,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9968090044,"gmtCreate":1669074266889,"gmtModify":1676538146751,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9968090044","repostId":"1107811715","repostType":4,"repost":{"id":"1107811715","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1669045908,"share":"https://ttm.financial/m/news/1107811715?lang=&edition=fundamental","pubTime":"2022-11-21 23:51","market":"us","language":"en","title":"Big Tech Stocks Dropped in Morning Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1107811715","media":"Tiger Newspress","summary":"US stocks dropped on Monday as COVID-19 flare ups in China added to concerns about slowing growth. C","content":"<html><head></head><body><p>US stocks dropped on Monday as COVID-19 flare ups in China added to concerns about slowing growth. Concerns about the growth outlook in the US as the Federal Reserve vows to be persistent to fight inflation also continue to weigh on investors.</p><p>The Nasdaq index fell more than 1% in morning trading. Big tech stocks dropped with Tesla down 5%, Amazon down 3%, Apple and Meta Platforms down 2%.</p><p><img src=\"https://static.tigerbbs.com/e27e971cc13d2792983e0fcca0f11863\" tg-width=\"381\" tg-height=\"463\" referrerpolicy=\"no-referrer\"/></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Big Tech Stocks Dropped in Morning Trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBig Tech Stocks Dropped in Morning Trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-11-21 23:51</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>US stocks dropped on Monday as COVID-19 flare ups in China added to concerns about slowing growth. Concerns about the growth outlook in the US as the Federal Reserve vows to be persistent to fight inflation also continue to weigh on investors.</p><p>The Nasdaq index fell more than 1% in morning trading. Big tech stocks dropped with Tesla down 5%, Amazon down 3%, Apple and Meta Platforms down 2%.</p><p><img src=\"https://static.tigerbbs.com/e27e971cc13d2792983e0fcca0f11863\" tg-width=\"381\" tg-height=\"463\" referrerpolicy=\"no-referrer\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOGL":"谷歌A","TSLA":"特斯拉","NVDA":"英伟达","AAPL":"苹果","NFLX":"奈飞","AMZN":"亚马逊","META":"Meta Platforms, Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107811715","content_text":"US stocks dropped on Monday as COVID-19 flare ups in China added to concerns about slowing growth. Concerns about the growth outlook in the US as the Federal Reserve vows to be persistent to fight inflation also continue to weigh on investors.The Nasdaq index fell more than 1% in morning trading. Big tech stocks dropped with Tesla down 5%, Amazon down 3%, Apple and Meta Platforms down 2%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":270,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9968007241,"gmtCreate":1669074241183,"gmtModify":1676538146739,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9968007241","repostId":"2285710079","repostType":4,"repost":{"id":"2285710079","pubTimestamp":1669072735,"share":"https://ttm.financial/m/news/2285710079?lang=&edition=fundamental","pubTime":"2022-11-22 07:18","market":"us","language":"en","title":"Zoom Cuts Annual Revenue Forecast As Video-Conferencing Service Demand Wanes","url":"https://stock-news.laohu8.com/highlight/detail?id=2285710079","media":"CNA","summary":":Zoom Video Communications Inc on Monday lowered its annual revenue forecast amid waning demand for ","content":"<html><head></head><body><p>:<a href=\"https://laohu8.com/S/ZM\">Zoom</a> Video Communications Inc on Monday lowered its annual revenue forecast amid waning demand for the video conferencing platform as pandemic restrictions ease and competition amps up.</p><p>After recording blistering growth during the pandemic, Zoom, which competes with WeChat Work, Microsoft Teams, Cisco WebEx and Slack, is facing a slowdown as red-hot inflation is dampening the spending power of customers.</p><p>Zoom now expects annual revenue to be between $4.37 billion and $4.38 billion, compared with an earlier outlook of $4.39 billion and $4.40 billion.</p><p>The company, however, raised its annual adjusted profit per share to between $3.91 and $3.94, compared with $3.66 to $3.69 forecast earlier.</p><p>Revenue for the third quarter ended Oct. 31 rose 5 per cent to $1.1 billion.</p><p>&#34;In the third quarter, we drove revenue above guidance with continued momentum in Enterprise,&#34; said chief executive Eric Yuan.</p><p>On an adjusted basis, the company earned $1.07 per share during the quarter, compared with estimates of 84 cents per share, according to Refinitiv data.</p></body></html>","source":"can_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Zoom Cuts Annual Revenue Forecast As Video-Conferencing Service Demand Wanes</title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nZoom Cuts Annual Revenue Forecast As Video-Conferencing Service Demand Wanes\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-22 07:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.channelnewsasia.com/business/zoom-cuts-annual-revenue-forecast-video-conferencing-service-demand-wanes-3091251><strong>CNA</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>:Zoom Video Communications Inc on Monday lowered its annual revenue forecast amid waning demand for the video conferencing platform as pandemic restrictions ease and competition amps up.After ...</p>\n\n<a href=\"https://www.channelnewsasia.com/business/zoom-cuts-annual-revenue-forecast-video-conferencing-service-demand-wanes-3091251\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZM":"Zoom"},"source_url":"https://www.channelnewsasia.com/business/zoom-cuts-annual-revenue-forecast-video-conferencing-service-demand-wanes-3091251","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2285710079","content_text":":Zoom Video Communications Inc on Monday lowered its annual revenue forecast amid waning demand for the video conferencing platform as pandemic restrictions ease and competition amps up.After recording blistering growth during the pandemic, Zoom, which competes with WeChat Work, Microsoft Teams, Cisco WebEx and Slack, is facing a slowdown as red-hot inflation is dampening the spending power of customers.Zoom now expects annual revenue to be between $4.37 billion and $4.38 billion, compared with an earlier outlook of $4.39 billion and $4.40 billion.The company, however, raised its annual adjusted profit per share to between $3.91 and $3.94, compared with $3.66 to $3.69 forecast earlier.Revenue for the third quarter ended Oct. 31 rose 5 per cent to $1.1 billion.\"In the third quarter, we drove revenue above guidance with continued momentum in Enterprise,\" said chief executive Eric Yuan.On an adjusted basis, the company earned $1.07 per share during the quarter, compared with estimates of 84 cents per share, according to Refinitiv data.","news_type":1},"isVote":1,"tweetType":1,"viewCount":211,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9961699140,"gmtCreate":1668923346081,"gmtModify":1676538129216,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AAL\">$American Airlines(AAL)$&nbsp;</a>Ok","listText":"<a href=\"https://ttm.financial/S/AAL\">$American Airlines(AAL)$&nbsp;</a>Ok","text":"$American Airlines(AAL)$ Ok","images":[{"img":"https://community-static.tradeup.com/news/f5eb8bec69a59db20ef222bfeb966543","width":"1242","height":"1968"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9961699140","isVote":1,"tweetType":1,"viewCount":286,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":112147173,"gmtCreate":1622857820992,"gmtModify":1704192518326,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Lik n comment pls&nbsp;","listText":"Lik n comment pls&nbsp;","text":"Lik n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":7,"repostSize":0,"link":"https://ttm.financial/post/112147173","repostId":"1198786025","repostType":4,"repost":{"id":"1198786025","pubTimestamp":1622849125,"share":"https://ttm.financial/m/news/1198786025?lang=&edition=fundamental","pubTime":"2021-06-05 07:25","market":"us","language":"en","title":"S&P 500 rises on Friday to close out winning week near a record high","url":"https://stock-news.laohu8.com/highlight/detail?id=1198786025","media":"CNBC","summary":"U.S. stocks climbed on Friday as the key May jobs report showed solid gains, boosting confidence in the economic comeback.The S&P 500 rose about 0.9% to 4,229.89, sitting less than 0.2% from its all-time high reached last month. The Dow Jones Industrial Average gained 179.35 points to 34,756.39. The Nasdaq Composite outperformed with a nearly 1.5% rally to 13,814.49.The major averages all registered modest gains for the week. The blue-chip Dow and the S&P 500 advanced about 0.7% and 0.6%, respec","content":"<div>\n<p>U.S. stocks climbed on Friday as the key May jobs report showed solid gains, boosting confidence in the economic comeback.\nThe S&P 500 rose about 0.9% to 4,229.89, sitting less than 0.2% from its all-...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/stock-market-futures-open-to-close-news.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 rises on Friday to close out winning week near a record high</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 rises on Friday to close out winning week near a record high\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-05 07:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/stock-market-futures-open-to-close-news.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. stocks climbed on Friday as the key May jobs report showed solid gains, boosting confidence in the economic comeback.\nThe S&P 500 rose about 0.9% to 4,229.89, sitting less than 0.2% from its all-...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/stock-market-futures-open-to-close-news.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/06/03/stock-market-futures-open-to-close-news.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1198786025","content_text":"U.S. stocks climbed on Friday as the key May jobs report showed solid gains, boosting confidence in the economic comeback.\nThe S&P 500 rose about 0.9% to 4,229.89, sitting less than 0.2% from its all-time high reached last month. The Dow Jones Industrial Average gained 179.35 points to 34,756.39. The Nasdaq Composite outperformed with a nearly 1.5% rally to 13,814.49.\nThe major averages all registered modest gains for the week. The blue-chip Dow and the S&P 500 advanced about 0.7% and 0.6%, respectively, on the week for their second straight positive week. The tech-heavy Nasdaq gained just shy of 0.5% this week for its third winning week in a row.\nThe U.S. economy added 559,000 jobs in May, the Labor Department said on Friday. The number came in slightly lower than an estimate of 671,000 from economists surveyed by Dow Jones, but still showed a healthy rebound in the labor market. It’s an improvement from the upwardly revised 278,000 payrolls added in April.\nThe unemployment rate fell to 5.8% from 6.1%, which was better than the estimate of 5.9%. Many believe the jobs report, while solid, is not strong enough to trigger the Federal Reserve to dial back its bond buying program.\nThe jobs number is “goldilocks for risk,” said John Briggs, global head of strategy at NatWest Markets. It’s “not too hot to bring in the Fed and not too cold to worry about the economy.”\nThe 10-year Treasury yield dipped slightly following the jobs report. Bond yields had jumped higher in recent months amid rising inflation expectations.\n“While the job gains were somewhat modest relative to expectations, the good news is the figure rebounded from last month’s disappointing miss,” said Charlie Ripley, vice president of portfolio management at Allianz Investment Management. “Overall, today’s report does provide progress in the right direction.”\nMeme stocks continued their wild prices swings on Friday, but this time to the downside. AMC Entertainment ended the session down about 6.7%, but still gained more than 80% this week. BlackBerry fell 12.7% Friday, paring its rally this week to 37%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":137,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3577092942653022","authorId":"3577092942653022","name":"XNOP593","avatar":"https://static.tigerbbs.com/732877c9630f22cc8eb6bebac5e10f6d","crmLevel":4,"crmLevelSwitch":0,"idStr":"3577092942653022","authorIdStr":"3577092942653022"},"content":"Response to my comment too pls","text":"Response to my comment too pls","html":"Response to my comment too pls"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9983475782,"gmtCreate":1666313886246,"gmtModify":1676537738942,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/9983475782","repostId":"1127402451","repostType":4,"repost":{"id":"1127402451","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1666311905,"share":"https://ttm.financial/m/news/1127402451?lang=&edition=fundamental","pubTime":"2022-10-21 08:25","market":"us","language":"en","title":"Fed May Have to Slow Or Stop Balance Sheet Trimming in 2023, Barclays Says","url":"https://stock-news.laohu8.com/highlight/detail?id=1127402451","media":"Reuters","summary":"(Reuters) - The Federal Reserve may have to slow or stop shrinking its nearly $9 trillion balance sh","content":"<html><head></head><body><p>(Reuters) - The Federal Reserve may have to slow or stop shrinking its nearly $9 trillion balance sheet sooner than many now expect, according to a report from Barclays.</p><p>The investment bank&#39;s analysts wrote this week that the current pace of the drawdown likely needs to change in the first half of next year. That&#39;s because if the Fed were to press forward with allowing its balance sheet to shrink, bank reserves would, by the end of 2023, fall to levels that would complicate maintaining firm control of the federal funds rate, the U.S. central bank&#39;s primary tool for influencing the direction of the economy.</p><p>So far, Fed officials have given little guidance as to how long and how far they plan to go with cutting the holdings, noting only that they see it as an extended process heading to an uncertain end. &#34;I don&#39;t know what the final end point is of our balance sheet,&#34; Minneapolis Fed President Neel Kashkari said on Wednesday, but &#34;we have a ways to go.&#34;</p><p>That end state of the process is tricky due to a number of factors. But the biggest uncertainty is that it is unclear when the financial system moves from ample levels of bank reserves to one where they are scarce.</p><p>Scarce reserves mean the federal funds target rate can become volatile, which central bankers do not like. When reserves ran low in September 2019, the Fed was forced to intervene to bolster them through asset-buying and temporary liquidity injections.</p><p>The Barclays analysis arrives as the Fed is tightening its monetary policy stance on two fronts. Its bid to lower inflation, which has been running at 40-year highs, is driving officials to push up their federal funds target rate range aggressively, with increases likely to spill over into next year.</p><p>Withdrawing stimulus has also meant shrinking the size of the Fed&#39;s balance sheet. From a size of $4.2 trillion in March 2020, the holdings peaked at around $9 trillion as of last spring due to bond-buying stimulus efforts tied to the coronavirus pandemic. The Fed started drawing down its holdings by $95 billion per month as of September, with holdings now at $8.8 trillion. Amid that decline, bank reserves have been falling.</p><p>The Barclays report said that due to changes in the financial system, total reserve levels are likely to come under pressure at higher levels, which means &#34;the current level of bank reserves is probably closer to reserve scarcity than might have been the case before 2015.&#34;</p><p>The path the Fed is on right now will likely shave off just over $1 trillion from its balance sheet next year, which means reserves will become an issue for monetary policy before the end of the year, the report said.</p><p>&#34;Our sense is that these changes to the shape and location of the demand curve for bank reserves will mean that the Fed reaches &#39;ample&#39; much sooner than it expects,&#34; hitting that mark in the first half of 2023, the report said.</p><p>The Barclays report acknowledges the Fed could tweak the settings of its rate control toolkit or resort to other measures that could buy it some space on the reserves issue. But those sorts of things only offer a temporary respite, which makes altering the pace of the balance sheet drawdown the more valuable tool.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed May Have to Slow Or Stop Balance Sheet Trimming in 2023, Barclays Says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed May Have to Slow Or Stop Balance Sheet Trimming in 2023, Barclays Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-10-21 08:25</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>(Reuters) - The Federal Reserve may have to slow or stop shrinking its nearly $9 trillion balance sheet sooner than many now expect, according to a report from Barclays.</p><p>The investment bank&#39;s analysts wrote this week that the current pace of the drawdown likely needs to change in the first half of next year. That&#39;s because if the Fed were to press forward with allowing its balance sheet to shrink, bank reserves would, by the end of 2023, fall to levels that would complicate maintaining firm control of the federal funds rate, the U.S. central bank&#39;s primary tool for influencing the direction of the economy.</p><p>So far, Fed officials have given little guidance as to how long and how far they plan to go with cutting the holdings, noting only that they see it as an extended process heading to an uncertain end. &#34;I don&#39;t know what the final end point is of our balance sheet,&#34; Minneapolis Fed President Neel Kashkari said on Wednesday, but &#34;we have a ways to go.&#34;</p><p>That end state of the process is tricky due to a number of factors. But the biggest uncertainty is that it is unclear when the financial system moves from ample levels of bank reserves to one where they are scarce.</p><p>Scarce reserves mean the federal funds target rate can become volatile, which central bankers do not like. When reserves ran low in September 2019, the Fed was forced to intervene to bolster them through asset-buying and temporary liquidity injections.</p><p>The Barclays analysis arrives as the Fed is tightening its monetary policy stance on two fronts. Its bid to lower inflation, which has been running at 40-year highs, is driving officials to push up their federal funds target rate range aggressively, with increases likely to spill over into next year.</p><p>Withdrawing stimulus has also meant shrinking the size of the Fed&#39;s balance sheet. From a size of $4.2 trillion in March 2020, the holdings peaked at around $9 trillion as of last spring due to bond-buying stimulus efforts tied to the coronavirus pandemic. The Fed started drawing down its holdings by $95 billion per month as of September, with holdings now at $8.8 trillion. Amid that decline, bank reserves have been falling.</p><p>The Barclays report said that due to changes in the financial system, total reserve levels are likely to come under pressure at higher levels, which means &#34;the current level of bank reserves is probably closer to reserve scarcity than might have been the case before 2015.&#34;</p><p>The path the Fed is on right now will likely shave off just over $1 trillion from its balance sheet next year, which means reserves will become an issue for monetary policy before the end of the year, the report said.</p><p>&#34;Our sense is that these changes to the shape and location of the demand curve for bank reserves will mean that the Fed reaches &#39;ample&#39; much sooner than it expects,&#34; hitting that mark in the first half of 2023, the report said.</p><p>The Barclays report acknowledges the Fed could tweak the settings of its rate control toolkit or resort to other measures that could buy it some space on the reserves issue. But those sorts of things only offer a temporary respite, which makes altering the pace of the balance sheet drawdown the more valuable tool.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127402451","content_text":"(Reuters) - The Federal Reserve may have to slow or stop shrinking its nearly $9 trillion balance sheet sooner than many now expect, according to a report from Barclays.The investment bank's analysts wrote this week that the current pace of the drawdown likely needs to change in the first half of next year. That's because if the Fed were to press forward with allowing its balance sheet to shrink, bank reserves would, by the end of 2023, fall to levels that would complicate maintaining firm control of the federal funds rate, the U.S. central bank's primary tool for influencing the direction of the economy.So far, Fed officials have given little guidance as to how long and how far they plan to go with cutting the holdings, noting only that they see it as an extended process heading to an uncertain end. \"I don't know what the final end point is of our balance sheet,\" Minneapolis Fed President Neel Kashkari said on Wednesday, but \"we have a ways to go.\"That end state of the process is tricky due to a number of factors. But the biggest uncertainty is that it is unclear when the financial system moves from ample levels of bank reserves to one where they are scarce.Scarce reserves mean the federal funds target rate can become volatile, which central bankers do not like. When reserves ran low in September 2019, the Fed was forced to intervene to bolster them through asset-buying and temporary liquidity injections.The Barclays analysis arrives as the Fed is tightening its monetary policy stance on two fronts. Its bid to lower inflation, which has been running at 40-year highs, is driving officials to push up their federal funds target rate range aggressively, with increases likely to spill over into next year.Withdrawing stimulus has also meant shrinking the size of the Fed's balance sheet. From a size of $4.2 trillion in March 2020, the holdings peaked at around $9 trillion as of last spring due to bond-buying stimulus efforts tied to the coronavirus pandemic. The Fed started drawing down its holdings by $95 billion per month as of September, with holdings now at $8.8 trillion. Amid that decline, bank reserves have been falling.The Barclays report said that due to changes in the financial system, total reserve levels are likely to come under pressure at higher levels, which means \"the current level of bank reserves is probably closer to reserve scarcity than might have been the case before 2015.\"The path the Fed is on right now will likely shave off just over $1 trillion from its balance sheet next year, which means reserves will become an issue for monetary policy before the end of the year, the report said.\"Our sense is that these changes to the shape and location of the demand curve for bank reserves will mean that the Fed reaches 'ample' much sooner than it expects,\" hitting that mark in the first half of 2023, the report said.The Barclays report acknowledges the Fed could tweak the settings of its rate control toolkit or resort to other measures that could buy it some space on the reserves issue. But those sorts of things only offer a temporary respite, which makes altering the pace of the balance sheet drawdown the more valuable tool.","news_type":1},"isVote":1,"tweetType":1,"viewCount":377,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177827241,"gmtCreate":1627198413983,"gmtModify":1703485481128,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/177827241","repostId":"1176552691","repostType":4,"repost":{"id":"1176552691","pubTimestamp":1627183789,"share":"https://ttm.financial/m/news/1176552691?lang=&edition=fundamental","pubTime":"2021-07-25 11:29","market":"us","language":"en","title":"Is IBM Stock Undervalued Or Overvalued? What To Consider","url":"https://stock-news.laohu8.com/highlight/detail?id=1176552691","media":"seekingalpha","summary":"Summary\n\nIBM beat analysts’ second-quarter earnings as cloud revenue and operating margins improved.","content":"<p><b>Summary</b></p>\n<ul>\n <li>IBM beat analysts’ second-quarter earnings as cloud revenue and operating margins improved.</li>\n <li>Prior to Q1, IBM posted declining revenue for four consecutive quarters, and 30 of the last 34 quarters.</li>\n <li>More transparency is needed regarding the Kyndryl spinoff.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2c798e0536c6804d44b195f6f349fab5\" tg-width=\"1536\" tg-height=\"1044\" width=\"100%\" height=\"auto\"><span>Ethan Miller/Getty Images News</span></p>\n<p>International Business Machines Corporation (IBM) is a company in transition. Unfortunately for investors, the transition has been in place for the better part of a decade. Those turnaround efforts include investments in cloud computing and artificial intelligence and the divestiture of legacy businesses. While there are now signs of green shoots, it is yet to be seen as to whether the seeds sown have fallen on rocky ground.</p>\n<p>Although the company has a rapidly growing business in hybrid cloud offerings, and a potential growth engine in quantum computing, it faces intense competition in the former industry and uncertain prospects in the latter. Most of the firm’s other businesses are in the doldrums, so IBM’s growth prospects are opaque.</p>\n<p>What is certain is that as of today, IBM has a reasonable and diminishing debt load and strong free cash flow.</p>\n<p>Management is attempting to address growth concerns in part by focusing on the firm’s cloud offerings, while it spins off its managed infrastructure business. That company will be named Kyndryl. However, the debt which the new entity will shoulder, along with the portion of the current dividend that it will carry, has not been divulged.</p>\n<p><b>Recent Quarterly Results</b></p>\n<p>IBM&nbsp;reported&nbsp;Q2 results last Monday. With non-GAAP EPS of $2.33, the company beat estimates by $0.04.</p>\n<p>Revenue of $18.7 billion was flat when adjusted for currency and divestitures.</p>\n<p>The negative side of the report had Systems revenue declining by 7%. However, this was largely due to the normal IBM Z mainframe cycle, down 13% year over year.</p>\n<p>The global financing division, which represents a low single digit percentage of overall revenues, was down 9%. Global technology services, which represents roughly a third of overall revenue and will largely be spun off as Kyndryl, had flattish growth.</p>\n<p>The positive side of the report had Cloud &amp; Cognitive Software cloud revenue up 29% and Global Business Services cloud revenue up 35%. Total cloud revenue of $27 billion increased by 15% over the last 12 months, while cloud revenue grew 13% in the quarter to $7.0 billion.</p>\n<p>Net cash from operating activities hit $17.7 billion, and adjusted free cash flow totaled $11 billion over the last 12 months.</p>\n<p>Since year-end 2020, the company has reduced debt by $6.4 billion.</p>\n<p>Management guides for adjusted free cash flow of $11 billion to $12 billion in 2021.</p>\n<p><b>Where IBM Stands Tall</b></p>\n<p>IBM is viewed by many as at best a third rate IT company and at worst as a dinosaur, headed towards extinction.</p>\n<p>It is evident that the company’s revenues have declined for years; however, to accurately assess the stock, investors must understand that IBM’s legacy businesses have many strengths.</p>\n<p>For example, IBM is the world’s largest IT services company and the dominant provider of mainframes. Among the Fortune 50 companies, 47 are IBM clients.</p>\n<p>Half of the world’s wireless connections are handled by the firm.</p>\n<p>IBM's mainframe systems process nearly 90% of the globe’s credit card transactions, and 97% of the world's largest banks rely on IBM products and services. Consequently, twenty-nine billion ATM transactions are processed annually using IBM systems.</p>\n<p>Eight out of 10 global retailers rely on IBM products and services while 80% of the travel industry's reservations run through IBM systems. That results in 4 billion flight reservations being processed using the company’s IT services.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7ace4f1436fd2697c5ad266b5017e1dd\" tg-width=\"960\" tg-height=\"721\" width=\"100%\" height=\"auto\"><span>Source: Forbes</span></p>\n<p>It is evident that IBM has a massive customer base that provides large scale recurring revenues. In many cases, moving to competitors' offerings would mean risking the transfer of sensitive information, a move many are not willing to take.</p>\n<p>However, with the transition to cloud services and open source software, there is an increased adoption by firms of mix and match IT infrastructures. In turn, this is eroding IBM’s competitive advantage associated with customer switching costs.</p>\n<p><b>The Sources Of Potential Growth</b></p>\n<p>Investors are generally aware of IBM's effort to drive growth through its hybrid cloud offerings. However, when questioned at JPMorgan’s recent investor conference, CFO Jim Kavanaugh&nbsp;provided insight&nbsp;into how hybrid cloud drives revenue in some of IBM’s other divisions.</p>\n<blockquote>\n For every $1 (in business) we land on a hybrid cloud platform, we see $3 to $5 of software drag and $6 to $8 of services drag overall.\n</blockquote>\n<p>Of course, Kavanaugh is using drag to refer to increased revenue in software and services associated with adoption of IBM’s hybrid cloud. If Kavanaugh’s claims are accurate, that means every dollar spent on the company’s hybrid cloud platform translates into $9 to $13 in additional revenue from the firm’s software and services offerings.</p>\n<p>Because hybrid cloud uses a mix of on-premises private cloud and public cloud services, it offers clients a degree of data privacy. This is of particular concern for customers in healthcare and financial services. Consequently, I would posit that IBM might have an advantage in competing with other hybrid cloud providers as it has extensive relationships within those industries.</p>\n<p>I reviewed a variety of prognostications regarding projected growth rates for the hybrid cloud market. The most recent study, which also falls in the middle of other predictions, is by Mordor Intelligence. That firm&nbsp;forecasts&nbsp;a CAGR of 18.73% from 2021 through 2026.</p>\n<p>Investors should be aware that the major operators in this space are Cisco (CSCO), Hewlett Packard (HPE), Amazon (AMZN), Citrix Systems (CTXS), and IBM.</p>\n<p>The following chart provides a record of the firm’s total cloud growth over the last six quarters.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5fc85156e70f6caf8ae809f76126a723\" tg-width=\"576\" tg-height=\"336\" width=\"100%\" height=\"auto\"><span>Source: Company reports / Chart by Author</span></p>\n<p>Aside from cloud, there is another source of potential growth, although it is unlikely to materialize soon.</p>\n<p>Early in 2019, IBM&nbsp;introduced&nbsp;the Q System One. IBM Q systems are the world's first quantum computer designed for scientific and commercial use.</p>\n<p>Pardon the pun, but quantum computers represent a quantum leap in technology. Prescient And Strategic Intelligence&nbsp;forecasts&nbsp;a CAGR of 56% for the industry through 2030 with the quantum computer market share reaching nearly $65 billion.</p>\n<p>For additional insights regarding quantum computing and IBM’s position within that industry, I point you to&nbsp;my article, “IBM: Why My Eye Is Fixed On Big Blue.”</p>\n<p><b>Understanding Kyndryl</b></p>\n<p>Once&nbsp;Kyndryl&nbsp;is launched, it will have more than 90,000 employees and more than 4,600 customers in 115 countries. With a $60 billion services backlog, the new entity will begin with projected revenues of $19 billion. At twice the size of its closest competitor, the company will be the world’s largest managed infrastructure services provider.</p>\n<p>The split will&nbsp;transform&nbsp;IBM from a company that pulls half of its revenue from services to a firm with its software and solutions businesses generating over half of its revenue on a recurring basis.</p>\n<p>Global Business Services, which currently constitutes 22% of the company’s revenue, will&nbsp;account&nbsp;for over 40% of sales. Here it is important to note that the division grew revenue by 12% year over year in the last quarter.</p>\n<p>IBM will retain Red Hat and its solution provider business, the systems businesses, and its mission-critical public cloud service, and a software portfolio focused on big data, AI, and security.</p>\n<p>Initially, the two companies will each be the largest customer of the other.</p>\n<p>What remains to be known regarding the spinoff is how much debt each company will shoulder, and the share of the dividend that the companies will pay. Krishna stated the two companies will work together to sustain the current payout level.</p>\n<p><b>Has IBM Turned The Corner?</b></p>\n<p>Anyone who follows IBM knows the company has experienced an extended period of poor results. The following chart provides a record of the firm’s quarterly FCF over the last fourteen quarters.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/60cc8b82052f97dd449205999ee30711\" tg-width=\"577\" tg-height=\"337\" width=\"100%\" height=\"auto\"><span>Source: Data from ycharts / chart by author</span></p>\n<p>While this is not proof positive that the company is back on track, the recent trend is at least encouraging.</p>\n<p>In 2020, IBM generated $10.8 billion in free cash flow. Management guides for adjusted free cash flow of $11 billion to $12 billion in 2021. This excludes $3 billion in structural impacts related to the Kyndryl spinoff.</p>\n<p>The CEO&nbsp;recently stated&nbsp;he expects IBM to generate $12 billion to $13 billion in FCF in 2022.</p>\n<p><b>Debt And Dividend</b></p>\n<p>While investors can rightfully complain of a variety of management moves over the years, the firm has maintained a reasonable debt profile while engaging in a number of acquisitions.</p>\n<p>The company has reduced the debt by roughly $18 billion since its peak in mid-2019. IBM maintains an investment level credit rating, and the following chart provides a record of the company’s progress paying down debt of late.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b73e613157c486a5f5e8306546121971\" tg-width=\"1280\" tg-height=\"720\" width=\"100%\" height=\"auto\"><span>Source: IBM Presentation</span></p>\n<p>IBM has a yield of 4.64%, a payout ratio a bit below 61%, and a 5 year dividend growth rate of 4.26%. As previously noted, following the spinoff of Kyndryl, the two companies will team to provide a payout equivalent to the current dividend.</p>\n<p><b>Is IBM Stock Overvalued?</b></p>\n<p>IBM shares trade for $141.13. The average 12 month price target of 8 analysts is $153.50. The price target of the 3 analysts rating the stock since the last earnings report is $151.33.</p>\n<p>IBM has a P/E of 24.05x and a forward P/E of 17.67x. This compares to its five year averages of 16.42x and 13.25x respectively. It is well below the sector average which is in the low thirties for both metrics.</p>\n<p>The 3 to 5 year PEG provided by Seeking Alpha Premium is 1.16x. Schwab calculates a PEG of 1.49x, and Yahoo does not provide a PEG ratio.</p>\n<p>I believe the current P/E ratios for the stock reflect investors anticipating increased growth for IBM once the spinoff is complete. The PEG ratios show the stock is reasonably valued.</p>\n<p><b>Is IBM Stock A Good Long-Term Investment?</b></p>\n<p>IBM has an entrenched but evolving position among many of the largest companies on the globe. Unfortunately, the cloud, which is seen as the company’s primary avenue for growth, could also lead to a slow deterioration in some of the firm’s legacy businesses.</p>\n<p>That the cloud business has been growing at a rapid pace is manifest: IBM can now boast of over 3,200 clients using the firm’s hybrid cloud platform. That is nearly four times the number just prior to the Red Hat acquisition.</p>\n<p>If management’s claims are accurate, the hybrid cloud platform will create robust growth in the software and services division’s revenues. When combined with the spinoff of Kyndryl’s slow growing managed infrastructure services business, it is reasonable to believe IBM will witness increased growth.</p>\n<p>IBM has a solid balance sheet, a robust yield, and when viewed using PEG ratios as a basis for valuing the stock, the shares are trading at a bit of a discount.</p>\n<p>All considered, I rate IBM as a BUY.</p>\n<p>I think the worst case short to mid-term scenario is that the company experiences slow growth while investors collect a rather robust dividend.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is IBM Stock Undervalued Or Overvalued? 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What To Consider\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-25 11:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4440996-is-ibm-stock-undervalued-overvalued><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nIBM beat analysts’ second-quarter earnings as cloud revenue and operating margins improved.\nPrior to Q1, IBM posted declining revenue for four consecutive quarters, and 30 of the last 34 ...</p>\n\n<a href=\"https://seekingalpha.com/article/4440996-is-ibm-stock-undervalued-overvalued\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IBM":"IBM"},"source_url":"https://seekingalpha.com/article/4440996-is-ibm-stock-undervalued-overvalued","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176552691","content_text":"Summary\n\nIBM beat analysts’ second-quarter earnings as cloud revenue and operating margins improved.\nPrior to Q1, IBM posted declining revenue for four consecutive quarters, and 30 of the last 34 quarters.\nMore transparency is needed regarding the Kyndryl spinoff.\n\nEthan Miller/Getty Images News\nInternational Business Machines Corporation (IBM) is a company in transition. Unfortunately for investors, the transition has been in place for the better part of a decade. Those turnaround efforts include investments in cloud computing and artificial intelligence and the divestiture of legacy businesses. While there are now signs of green shoots, it is yet to be seen as to whether the seeds sown have fallen on rocky ground.\nAlthough the company has a rapidly growing business in hybrid cloud offerings, and a potential growth engine in quantum computing, it faces intense competition in the former industry and uncertain prospects in the latter. Most of the firm’s other businesses are in the doldrums, so IBM’s growth prospects are opaque.\nWhat is certain is that as of today, IBM has a reasonable and diminishing debt load and strong free cash flow.\nManagement is attempting to address growth concerns in part by focusing on the firm’s cloud offerings, while it spins off its managed infrastructure business. That company will be named Kyndryl. However, the debt which the new entity will shoulder, along with the portion of the current dividend that it will carry, has not been divulged.\nRecent Quarterly Results\nIBM reported Q2 results last Monday. With non-GAAP EPS of $2.33, the company beat estimates by $0.04.\nRevenue of $18.7 billion was flat when adjusted for currency and divestitures.\nThe negative side of the report had Systems revenue declining by 7%. However, this was largely due to the normal IBM Z mainframe cycle, down 13% year over year.\nThe global financing division, which represents a low single digit percentage of overall revenues, was down 9%. Global technology services, which represents roughly a third of overall revenue and will largely be spun off as Kyndryl, had flattish growth.\nThe positive side of the report had Cloud & Cognitive Software cloud revenue up 29% and Global Business Services cloud revenue up 35%. Total cloud revenue of $27 billion increased by 15% over the last 12 months, while cloud revenue grew 13% in the quarter to $7.0 billion.\nNet cash from operating activities hit $17.7 billion, and adjusted free cash flow totaled $11 billion over the last 12 months.\nSince year-end 2020, the company has reduced debt by $6.4 billion.\nManagement guides for adjusted free cash flow of $11 billion to $12 billion in 2021.\nWhere IBM Stands Tall\nIBM is viewed by many as at best a third rate IT company and at worst as a dinosaur, headed towards extinction.\nIt is evident that the company’s revenues have declined for years; however, to accurately assess the stock, investors must understand that IBM’s legacy businesses have many strengths.\nFor example, IBM is the world’s largest IT services company and the dominant provider of mainframes. Among the Fortune 50 companies, 47 are IBM clients.\nHalf of the world’s wireless connections are handled by the firm.\nIBM's mainframe systems process nearly 90% of the globe’s credit card transactions, and 97% of the world's largest banks rely on IBM products and services. Consequently, twenty-nine billion ATM transactions are processed annually using IBM systems.\nEight out of 10 global retailers rely on IBM products and services while 80% of the travel industry's reservations run through IBM systems. That results in 4 billion flight reservations being processed using the company’s IT services.\nSource: Forbes\nIt is evident that IBM has a massive customer base that provides large scale recurring revenues. In many cases, moving to competitors' offerings would mean risking the transfer of sensitive information, a move many are not willing to take.\nHowever, with the transition to cloud services and open source software, there is an increased adoption by firms of mix and match IT infrastructures. In turn, this is eroding IBM’s competitive advantage associated with customer switching costs.\nThe Sources Of Potential Growth\nInvestors are generally aware of IBM's effort to drive growth through its hybrid cloud offerings. However, when questioned at JPMorgan’s recent investor conference, CFO Jim Kavanaugh provided insight into how hybrid cloud drives revenue in some of IBM’s other divisions.\n\n For every $1 (in business) we land on a hybrid cloud platform, we see $3 to $5 of software drag and $6 to $8 of services drag overall.\n\nOf course, Kavanaugh is using drag to refer to increased revenue in software and services associated with adoption of IBM’s hybrid cloud. If Kavanaugh’s claims are accurate, that means every dollar spent on the company’s hybrid cloud platform translates into $9 to $13 in additional revenue from the firm’s software and services offerings.\nBecause hybrid cloud uses a mix of on-premises private cloud and public cloud services, it offers clients a degree of data privacy. This is of particular concern for customers in healthcare and financial services. Consequently, I would posit that IBM might have an advantage in competing with other hybrid cloud providers as it has extensive relationships within those industries.\nI reviewed a variety of prognostications regarding projected growth rates for the hybrid cloud market. The most recent study, which also falls in the middle of other predictions, is by Mordor Intelligence. That firm forecasts a CAGR of 18.73% from 2021 through 2026.\nInvestors should be aware that the major operators in this space are Cisco (CSCO), Hewlett Packard (HPE), Amazon (AMZN), Citrix Systems (CTXS), and IBM.\nThe following chart provides a record of the firm’s total cloud growth over the last six quarters.\nSource: Company reports / Chart by Author\nAside from cloud, there is another source of potential growth, although it is unlikely to materialize soon.\nEarly in 2019, IBM introduced the Q System One. IBM Q systems are the world's first quantum computer designed for scientific and commercial use.\nPardon the pun, but quantum computers represent a quantum leap in technology. Prescient And Strategic Intelligence forecasts a CAGR of 56% for the industry through 2030 with the quantum computer market share reaching nearly $65 billion.\nFor additional insights regarding quantum computing and IBM’s position within that industry, I point you to my article, “IBM: Why My Eye Is Fixed On Big Blue.”\nUnderstanding Kyndryl\nOnce Kyndryl is launched, it will have more than 90,000 employees and more than 4,600 customers in 115 countries. With a $60 billion services backlog, the new entity will begin with projected revenues of $19 billion. At twice the size of its closest competitor, the company will be the world’s largest managed infrastructure services provider.\nThe split will transform IBM from a company that pulls half of its revenue from services to a firm with its software and solutions businesses generating over half of its revenue on a recurring basis.\nGlobal Business Services, which currently constitutes 22% of the company’s revenue, will account for over 40% of sales. Here it is important to note that the division grew revenue by 12% year over year in the last quarter.\nIBM will retain Red Hat and its solution provider business, the systems businesses, and its mission-critical public cloud service, and a software portfolio focused on big data, AI, and security.\nInitially, the two companies will each be the largest customer of the other.\nWhat remains to be known regarding the spinoff is how much debt each company will shoulder, and the share of the dividend that the companies will pay. Krishna stated the two companies will work together to sustain the current payout level.\nHas IBM Turned The Corner?\nAnyone who follows IBM knows the company has experienced an extended period of poor results. The following chart provides a record of the firm’s quarterly FCF over the last fourteen quarters.\nSource: Data from ycharts / chart by author\nWhile this is not proof positive that the company is back on track, the recent trend is at least encouraging.\nIn 2020, IBM generated $10.8 billion in free cash flow. Management guides for adjusted free cash flow of $11 billion to $12 billion in 2021. This excludes $3 billion in structural impacts related to the Kyndryl spinoff.\nThe CEO recently stated he expects IBM to generate $12 billion to $13 billion in FCF in 2022.\nDebt And Dividend\nWhile investors can rightfully complain of a variety of management moves over the years, the firm has maintained a reasonable debt profile while engaging in a number of acquisitions.\nThe company has reduced the debt by roughly $18 billion since its peak in mid-2019. IBM maintains an investment level credit rating, and the following chart provides a record of the company’s progress paying down debt of late.\nSource: IBM Presentation\nIBM has a yield of 4.64%, a payout ratio a bit below 61%, and a 5 year dividend growth rate of 4.26%. As previously noted, following the spinoff of Kyndryl, the two companies will team to provide a payout equivalent to the current dividend.\nIs IBM Stock Overvalued?\nIBM shares trade for $141.13. The average 12 month price target of 8 analysts is $153.50. The price target of the 3 analysts rating the stock since the last earnings report is $151.33.\nIBM has a P/E of 24.05x and a forward P/E of 17.67x. This compares to its five year averages of 16.42x and 13.25x respectively. It is well below the sector average which is in the low thirties for both metrics.\nThe 3 to 5 year PEG provided by Seeking Alpha Premium is 1.16x. Schwab calculates a PEG of 1.49x, and Yahoo does not provide a PEG ratio.\nI believe the current P/E ratios for the stock reflect investors anticipating increased growth for IBM once the spinoff is complete. The PEG ratios show the stock is reasonably valued.\nIs IBM Stock A Good Long-Term Investment?\nIBM has an entrenched but evolving position among many of the largest companies on the globe. Unfortunately, the cloud, which is seen as the company’s primary avenue for growth, could also lead to a slow deterioration in some of the firm’s legacy businesses.\nThat the cloud business has been growing at a rapid pace is manifest: IBM can now boast of over 3,200 clients using the firm’s hybrid cloud platform. That is nearly four times the number just prior to the Red Hat acquisition.\nIf management’s claims are accurate, the hybrid cloud platform will create robust growth in the software and services division’s revenues. When combined with the spinoff of Kyndryl’s slow growing managed infrastructure services business, it is reasonable to believe IBM will witness increased growth.\nIBM has a solid balance sheet, a robust yield, and when viewed using PEG ratios as a basis for valuing the stock, the shares are trading at a bit of a discount.\nAll considered, I rate IBM as a BUY.\nI think the worst case short to mid-term scenario is that the company experiences slow growth while investors collect a rather robust dividend.","news_type":1},"isVote":1,"tweetType":1,"viewCount":47,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148895167,"gmtCreate":1625965503659,"gmtModify":1703751245052,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/148895167","repostId":"1113530069","repostType":4,"repost":{"id":"1113530069","pubTimestamp":1625965241,"share":"https://ttm.financial/m/news/1113530069?lang=&edition=fundamental","pubTime":"2021-07-11 09:00","market":"us","language":"en","title":"Tesla CEO Elon Musk goes to trial Monday to defend $2.6 billion SolarCity acquisition","url":"https://stock-news.laohu8.com/highlight/detail?id=1113530069","media":"CNBC","summary":"Tesla CEO Elon Musk is expected in court on Monday to defend his role in Tesla’s $2.6 billion acquisition of SolarCity in 2016.Shareholders have sued Musk alleging that the deal amounted to a SolarCity bailout that enriched Musk and his family more than it did Tesla, among other things.If shareholders win their case, Musk may have to pay upwards of $2 billion from his considerable personal wealth.Tesla CEO Elon Musk is expected in court on Monday, and the stakes are high — if he loses he could h","content":"<div>\n<p>KEY POINTS\n\nTesla CEO Elon Musk is expected in court on Monday to defend his role in Tesla’s $2.6 billion acquisition of SolarCity in 2016.\nShareholders have sued Musk alleging that the deal amounted ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/10/tesla-ceo-musk-goes-to-trial-monday-on-2point6-billion-solarcity-deal.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla CEO Elon Musk goes to trial Monday to defend $2.6 billion SolarCity acquisition</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla CEO Elon Musk goes to trial Monday to defend $2.6 billion SolarCity acquisition\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-11 09:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/10/tesla-ceo-musk-goes-to-trial-monday-on-2point6-billion-solarcity-deal.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nTesla CEO Elon Musk is expected in court on Monday to defend his role in Tesla’s $2.6 billion acquisition of SolarCity in 2016.\nShareholders have sued Musk alleging that the deal amounted ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/10/tesla-ceo-musk-goes-to-trial-monday-on-2point6-billion-solarcity-deal.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.cnbc.com/2021/07/10/tesla-ceo-musk-goes-to-trial-monday-on-2point6-billion-solarcity-deal.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1113530069","content_text":"KEY POINTS\n\nTesla CEO Elon Musk is expected in court on Monday to defend his role in Tesla’s $2.6 billion acquisition of SolarCity in 2016.\nShareholders have sued Musk alleging that the deal amounted to a SolarCity bailout that enriched Musk and his family more than it did Tesla, among other things.\nIf shareholders win their case, Musk may have to pay upwards of $2 billion from his considerable personal wealth.\n\nTesla CEO Elon Musk is expected in court on Monday, and the stakes are high — if he loses he could have to pay upwards of $2 billion from his considerable personal wealth.\nMusk will be the first witness in a trial to defend his role in Tesla’s $2.6 billion acquisition of SolarCity. Shareholders have sued Musk and members of the Tesla board, alleging that the 2016 deal amounted to a SolarCity bailout.\nThey also allege that it unfairly enriched the Musk family, who were among the largest shareholders, and that Musk and others failed to disclose all pertinent details and breached their fiduciary responsibilities. Musk has insisted he was “fully recused” from negotiations over the deal.\nLast year, the board members named in the suit settled with the Tesla shareholders for $60 million with no admission of wrongdoing. Musk, the second-richest person in the world, was the only defendant who chose to take the fight to court.\nThere’s no jury to persuade in this matter. His fate will be determined by the Delaware Chancery Court’s judge, Vice-Chancellor Joseph Slights III.\nDays in court\nMusk has had his share of legal problems beyond SolarCity.\nFor example, the SEC sued him in 2018 for fraud, with Musk and Tesla settling, paying $20 million each. The charges came after Musk tweeted about taking Tesla private for $420 a share, a move that sent Tesla’s stock price soaring. Musk had to temporarily relinquish his chairman role at Tesla as one of the terms of the settlement.\nIn a separate case, he emerged victorious after caving expert Vernon Unsworth said Musk had defamed him when the Tesla CEO called him a “pedo guy” on twitter. His attorneys argued that “pedo guy” was heated rhetoric and not meant as statement of fact.\nTesla and Musk are facing many other lawsuits, including one over Musk’s unprecedented CEO compensation package, and a number of federal probes according to the company’s own financial filings.\nIn the SolarCity case, the judge will have to decide whether Musk was a conflicted controlling shareholder who met the “entire fairness” standard in his handling of the SolarCity acquisition.\nIn other words, was Musk acting in Tesla shareholders’ best interest? And did Musk tell shareholders everything they deserved to know?\nKnown as a shareholder derivative action, this kind of lawsuit is filed by investors on behalf of a corporation, rather than the individuals or funds themselves. If the plaintiffs win, proceeds may go to Tesla and not to the stakeholders who brought the suit.\nCompany connections\nAccording to a filing with the chancery court, Musk owned 22.1% of Tesla common stock at the time of the deal, and 21.9% of SolarCity. SolarCity was a troubled asset that was bleeding cash in the capital-intensive market of residential solar deployment.\nMusk’s attorneys are expected to argue that the SolarCity deal hasn’t harmed shareholders at all and that they voted overwhelmingly to approve the acquisition. After all, Tesla shares have skyrocketed from a closing price of $43.92 on June 21, 2016 — when Tesla announced it would bid for SolarCity — to a closing price of $656.95 on July 9, 2021 (Friday) after a five-for-one stock split last year.\nThe company is also part of the S&P 500 now, and reports profits regularly.\nSolarCity was founded and run by Musk’s cousins, Lyndon and Peter Rive, but backed by Musk who served as chairman of the board. Meanwhile, he also was CEO of Tesla, as well as the company’s chairman.\nThat wasn’t his only potential conflict. SpaceX, Musk’s aerospace venture, had invested $255 million in SolarCity bonds from March 2015 to March 2016. Four members of Tesla’s board directly or indirectly owned SolarCity stock at the time the acquisition was under consideration. And some Tesla board members also held shares in SpaceX and were on its board.\nHow he pitched it\nTo Musk and many of his supporters, the acquisition of SolarCity in 2016 represented a natural combination of his companies and a way for Tesla to pursue its environmental mission with a broader array of products. Homeowners would be able to finance and install solar rooftop panels from the same company that provided their electric vehicle, home charging station and backup battery for energy storage.\nTesla had already launched an energy division in late 2015, with a home battery dubbed the Powerwall and other big batteries for use by businesses and utilities.\nBy June 2016, Musk said Tesla would bid $2.8 billion to buy SolarCity. “I don’t think this creates additional financial risk for Tesla,” he said at that time, and called a merger “blindingly obvious.” But Tesla investors were skeptical, with the stock price plunging more than 10% on the announcement.\nIn July 2016, Musk presented his vision of Tesla as an automotive innovator and renewable energy titan in his famous “Master Plan Part Deux.”\nAs CNBC previously reported, unsealed court documents, including emails between Musk and SolarCity execs, would later reveal that he knew SolarCity was facing a “liquidity crisis” even as Tesla pursued the acquisition.\n“Three things need to happen to change investor sentiment: SolarCity solving its liquidity crisis, an LOI with Panasonic to address solar cell production risk, and a joint product demo,” Musk wrote to SolarCity execs in September that year. “Should be able to do all those before the shareholder vote.”\nIn October 2018, Tesla and SolarCity jointly announced a combined solar roof and battery pack. Musk showed off what looked like a solar panel, miniaturized and sleek enough to be mistaken for high-end roofing materials, at the Hollywood set of Desperate Housewives.\nAfter the deal\nThe hype event did help him to turn investor sentiment. In November, the deal was approved in a vote by 85% of shareholders. But after it closed, Tesla’s SolarCity business would falter.\nThrough the years, the company repeatedly delayed mass manufacturing its Solarglass roof tiles. The ones Musk presented as a production-ready prototype in 2016 were actually a non-functional design prototype.\nWalmart sued Tesla after fires broke out on panels the company had installed atop their facilities. A former Tesla Energy employee filed a whistleblower complaint to federal agencies about the fire risks of Tesla’s solar rooftops. And Panasonic exited from the Buffalo plant that Tesla took over, once it was clear Tesla was not going to manufacture its solar roof tiles there.\nWhile the Tesla solar roof tiles have not taken off, the company’s energy storage products are on a tear, as demand for lower-cost electricity from renewable sources picks up worldwide.\nIn the trial starting Monday in Wilmington, Delaware, Musk will be represented by attorneys with Ross Aronstam & Moritz (David E. Ross, Garrett B. Moritz and Benjamin Z. Grossberg). The trial is expected to run until July 23, 2021, unless the entities seek a settlement before it’s done.","news_type":1},"isVote":1,"tweetType":1,"viewCount":13,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160455781,"gmtCreate":1623805120143,"gmtModify":1703819892531,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Time to in?","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Time to in?","text":"$Tiger Brokers(TIGR)$Time to in?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":4,"repostSize":1,"link":"https://ttm.financial/post/160455781","isVote":1,"tweetType":1,"viewCount":1514,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9035458197,"gmtCreate":1647659394431,"gmtModify":1676534256669,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035458197","repostId":"2220484770","repostType":4,"repost":{"id":"2220484770","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1647644857,"share":"https://ttm.financial/m/news/2220484770?lang=&edition=fundamental","pubTime":"2022-03-19 07:07","market":"us","language":"en","title":"Wall St Closes Higher after Biden-XI Talks End, Oil Steadies","url":"https://stock-news.laohu8.com/highlight/detail?id=2220484770","media":"Reuters","summary":"No. But is it happier that it's around $100 than going up $20 every day?Of course.\"Investors were also monitoring for any impact from Friday's  \"triple witching,\" in which investors unwind positions in futures and options contracts before they expire, which can lead to volatility and trading volume.On Friday the expirations appeared to boost volume as 18.47 billion shares changed hands on U.S. exchanges compared with the 14.56 billion moving average for the last 20 sessions.The Dow Jones Industr","content":"<html><head></head><body><p>* FedEx falls on lower-than-expected quarterly earnings</p><p>* Moderna up on seeking FDA authorization for second booster</p><p>* Indexes rise: Dow 0.8%, S&amp;P 500 1.17%, Nasdaq 2.05%</p><p>March 18 (Reuters) - Wall Street&#39;s three major indexes closed higher on Friday, with the biggest boost from recently battered technology stocks, after talks between U.S. President Joe Biden and Chinese President Xi Jinping over the Ukraine crisis ended without big surprises.</p><p>Investors were also relieved by slowing gains in oil prices as they continued to digest the Federal Reserve&#39;s Wednesday interest rate increase and its aggressive plan for further hikes aimed at combating soaring inflation.</p><p>&#34;The read out from the meeting was as expected,&#34; said Art Hogan, chief market strategist at National Securities in New York regarding the Xi/Biden talks. He said that since Russia/Ukraine talks were continuing, investors were tending toward optimism.</p><p>&#34;Regarding Russia, Ukraine, the market has been more  positive on news from the diplomatic front than negative on the escalation.&#34;</p><p>Hogan also cited calmer oil prices and relief that the highly anticipated Fed news was finally out.</p><p>&#34;Instead of having fears and trepidation of what the Fed might do we have clear roadmap for monetary policy,&#34; he said.</p><p>In addition to less onerous than expected Fed actions, Steve Sosnick, chief strategist at Interactive Brokers in Greenwich, Connecticut said investors were reassured that U.S. crude oil prices weren&#39;t too far above $100 on Friday after recently surpassing $130.</p><p>&#34;At least for this week oil has found a level. That&#39;s someway positive for the market as a rising oil price is overweighted in consumer minds as an inflationary indicator,&#34; said Sosnick. &#34;Does the market like oil around $100? No. But is it happier that it&#39;s around $100 than going up $20 every day? Of course.&#34;</p><p>Investors were also monitoring for any impact from Friday&#39;s  &#34;triple witching,&#34; in which investors unwind positions in futures and options contracts before they expire, which can lead to volatility and trading volume.</p><p>On Friday the expirations appeared to boost volume as 18.47 billion shares changed hands on U.S. exchanges compared with the 14.56 billion moving average for the last 20 sessions.</p><p>The Dow Jones Industrial Average rose 274.17 points, or 0.8%, to 34,754.93, the S&amp;P 500 gained 51.45 points, or 1.17%, to 4,463.12 and the Nasdaq Composite added 279.06 points, or 2.05%, to 13,893.84.</p><p>Wall Street&#39;s three main indexes boasted their biggest weekly percentage gains since early November 2020 with the S&amp;P adding 6.2% while the Dow rose 5.5% and the Nasdaq jumping 8.2%.</p><p>Ten of the 11 major S&amp;P 500 sectors closed higher, with heavyweight technology and consumer discretionary both finishing up 2.2% while communication services rising 1.4%.</p><p>The only declining sector was utilities which ended the session down 0.9%.</p><p>Moderna Inc closed up 6.3% after the drugmaker submitted a request to the U.S. Food and Drug Administration to allow for a second booster of its COVID-19 vaccine.</p><p>Shares of Boeing Co finished up 1.4% after reports the planemaker was edging toward a landmark order from Delta Air Lines    for up to 100 of its 737 MAX 10 jets.</p><p>But shares in U.S. delivery firm FedEx Corp slumped almost 4% after a weaker-than-expected quarterly earnings report.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 2.20-to-1 ratio; on Nasdaq, a 2.19-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 19 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 44 new highs and 41 new lows.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall St Closes Higher after Biden-XI Talks End, Oil Steadies</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall St Closes Higher after Biden-XI Talks End, Oil Steadies\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-03-19 07:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>* FedEx falls on lower-than-expected quarterly earnings</p><p>* Moderna up on seeking FDA authorization for second booster</p><p>* Indexes rise: Dow 0.8%, S&amp;P 500 1.17%, Nasdaq 2.05%</p><p>March 18 (Reuters) - Wall Street&#39;s three major indexes closed higher on Friday, with the biggest boost from recently battered technology stocks, after talks between U.S. President Joe Biden and Chinese President Xi Jinping over the Ukraine crisis ended without big surprises.</p><p>Investors were also relieved by slowing gains in oil prices as they continued to digest the Federal Reserve&#39;s Wednesday interest rate increase and its aggressive plan for further hikes aimed at combating soaring inflation.</p><p>&#34;The read out from the meeting was as expected,&#34; said Art Hogan, chief market strategist at National Securities in New York regarding the Xi/Biden talks. He said that since Russia/Ukraine talks were continuing, investors were tending toward optimism.</p><p>&#34;Regarding Russia, Ukraine, the market has been more  positive on news from the diplomatic front than negative on the escalation.&#34;</p><p>Hogan also cited calmer oil prices and relief that the highly anticipated Fed news was finally out.</p><p>&#34;Instead of having fears and trepidation of what the Fed might do we have clear roadmap for monetary policy,&#34; he said.</p><p>In addition to less onerous than expected Fed actions, Steve Sosnick, chief strategist at Interactive Brokers in Greenwich, Connecticut said investors were reassured that U.S. crude oil prices weren&#39;t too far above $100 on Friday after recently surpassing $130.</p><p>&#34;At least for this week oil has found a level. That&#39;s someway positive for the market as a rising oil price is overweighted in consumer minds as an inflationary indicator,&#34; said Sosnick. &#34;Does the market like oil around $100? No. But is it happier that it&#39;s around $100 than going up $20 every day? Of course.&#34;</p><p>Investors were also monitoring for any impact from Friday&#39;s  &#34;triple witching,&#34; in which investors unwind positions in futures and options contracts before they expire, which can lead to volatility and trading volume.</p><p>On Friday the expirations appeared to boost volume as 18.47 billion shares changed hands on U.S. exchanges compared with the 14.56 billion moving average for the last 20 sessions.</p><p>The Dow Jones Industrial Average rose 274.17 points, or 0.8%, to 34,754.93, the S&amp;P 500 gained 51.45 points, or 1.17%, to 4,463.12 and the Nasdaq Composite added 279.06 points, or 2.05%, to 13,893.84.</p><p>Wall Street&#39;s three main indexes boasted their biggest weekly percentage gains since early November 2020 with the S&amp;P adding 6.2% while the Dow rose 5.5% and the Nasdaq jumping 8.2%.</p><p>Ten of the 11 major S&amp;P 500 sectors closed higher, with heavyweight technology and consumer discretionary both finishing up 2.2% while communication services rising 1.4%.</p><p>The only declining sector was utilities which ended the session down 0.9%.</p><p>Moderna Inc closed up 6.3% after the drugmaker submitted a request to the U.S. Food and Drug Administration to allow for a second booster of its COVID-19 vaccine.</p><p>Shares of Boeing Co finished up 1.4% after reports the planemaker was edging toward a landmark order from Delta Air Lines    for up to 100 of its 737 MAX 10 jets.</p><p>But shares in U.S. delivery firm FedEx Corp slumped almost 4% after a weaker-than-expected quarterly earnings report.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 2.20-to-1 ratio; on Nasdaq, a 2.19-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 19 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 44 new highs and 41 new lows.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","BK4516":"特朗普概念","BK4564":"太空概念","TQQQ":"纳指三倍做多ETF","SDOW":"道指三倍做空ETF-ProShares","OEF":"标普100指数ETF-iShares","BK4532":"文艺复兴科技持仓","BK4187":"航天航空与国防","DJX":"1/100道琼斯","BA":"波音","PSQ":"纳指反向ETF","MRNA":"Moderna, Inc.","BK4008":"航空公司","BK4534":"瑞士信贷持仓","SDS":"两倍做空标普500ETF","BK4139":"生物科技","UPRO":"三倍做多标普500ETF","BK4533":"AQR资本管理(全球第二大对冲基金)","UDOW":"道指三倍做多ETF-ProShares","QQQ":"纳指100ETF","QLD":"纳指两倍做多ETF","DXD":"道指两倍做空ETF","IVV":"标普500指数ETF","BK4559":"巴菲特持仓","DAL":"达美航空","BK4568":"美国抗疫概念","FDX":"联邦快递","BK4550":"红杉资本持仓","BK4500":"航空公司","QID":"纳指两倍做空ETF","SH":"标普500反向ETF","DDM":"道指两倍做多ETF","BK4551":"寇图资本持仓","SPY":"标普500ETF","BK4581":"高盛持仓","SQQQ":"纳指三倍做空ETF","BK4504":"桥水持仓","OEX":"标普100","DOG":"道指反向ETF","SPXU":"三倍做空标普500ETF","BK4548":"巴美列捷福持仓","SSO":"两倍做多标普500ETF"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2220484770","content_text":"* FedEx falls on lower-than-expected quarterly earnings* Moderna up on seeking FDA authorization for second booster* Indexes rise: Dow 0.8%, S&P 500 1.17%, Nasdaq 2.05%March 18 (Reuters) - Wall Street's three major indexes closed higher on Friday, with the biggest boost from recently battered technology stocks, after talks between U.S. President Joe Biden and Chinese President Xi Jinping over the Ukraine crisis ended without big surprises.Investors were also relieved by slowing gains in oil prices as they continued to digest the Federal Reserve's Wednesday interest rate increase and its aggressive plan for further hikes aimed at combating soaring inflation.\"The read out from the meeting was as expected,\" said Art Hogan, chief market strategist at National Securities in New York regarding the Xi/Biden talks. He said that since Russia/Ukraine talks were continuing, investors were tending toward optimism.\"Regarding Russia, Ukraine, the market has been more  positive on news from the diplomatic front than negative on the escalation.\"Hogan also cited calmer oil prices and relief that the highly anticipated Fed news was finally out.\"Instead of having fears and trepidation of what the Fed might do we have clear roadmap for monetary policy,\" he said.In addition to less onerous than expected Fed actions, Steve Sosnick, chief strategist at Interactive Brokers in Greenwich, Connecticut said investors were reassured that U.S. crude oil prices weren't too far above $100 on Friday after recently surpassing $130.\"At least for this week oil has found a level. That's someway positive for the market as a rising oil price is overweighted in consumer minds as an inflationary indicator,\" said Sosnick. \"Does the market like oil around $100? No. But is it happier that it's around $100 than going up $20 every day? Of course.\"Investors were also monitoring for any impact from Friday's  \"triple witching,\" in which investors unwind positions in futures and options contracts before they expire, which can lead to volatility and trading volume.On Friday the expirations appeared to boost volume as 18.47 billion shares changed hands on U.S. exchanges compared with the 14.56 billion moving average for the last 20 sessions.The Dow Jones Industrial Average rose 274.17 points, or 0.8%, to 34,754.93, the S&P 500 gained 51.45 points, or 1.17%, to 4,463.12 and the Nasdaq Composite added 279.06 points, or 2.05%, to 13,893.84.Wall Street's three main indexes boasted their biggest weekly percentage gains since early November 2020 with the S&P adding 6.2% while the Dow rose 5.5% and the Nasdaq jumping 8.2%.Ten of the 11 major S&P 500 sectors closed higher, with heavyweight technology and consumer discretionary both finishing up 2.2% while communication services rising 1.4%.The only declining sector was utilities which ended the session down 0.9%.Moderna Inc closed up 6.3% after the drugmaker submitted a request to the U.S. Food and Drug Administration to allow for a second booster of its COVID-19 vaccine.Shares of Boeing Co finished up 1.4% after reports the planemaker was edging toward a landmark order from Delta Air Lines    for up to 100 of its 737 MAX 10 jets.But shares in U.S. delivery firm FedEx Corp slumped almost 4% after a weaker-than-expected quarterly earnings report.Advancing issues outnumbered declining ones on the NYSE by a 2.20-to-1 ratio; on Nasdaq, a 2.19-to-1 ratio favored advancers.The S&P 500 posted 19 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 44 new highs and 41 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":65,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9008006666,"gmtCreate":1641339388878,"gmtModify":1676533599758,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9008006666","repostId":"2201418283","repostType":4,"repost":{"id":"2201418283","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1641336421,"share":"https://ttm.financial/m/news/2201418283?lang=&edition=fundamental","pubTime":"2022-01-05 06:47","market":"us","language":"en","title":"Dow posts closing record high for 2nd day, boosted by banks","url":"https://stock-news.laohu8.com/highlight/detail?id=2201418283","media":"Reuters","summary":"* Financial sector registers all-time closing high* Ford, GM shares rise as electric truck battle heats up* Indexes: Dow up 0.6%, S&P 500 down 0.06%, Nasdaq down 1.3%NEW YORK, Jan 4 (Reuters) - The Do","content":"<html><head></head><body><p>* Financial sector registers all-time closing high</p><p>* Ford, GM shares rise as electric truck battle heats up</p><p>* Indexes: Dow up 0.6%, S&amp;P 500 down 0.06%, Nasdaq down 1.3%</p><p>NEW YORK, Jan 4 (Reuters) - The Dow Jones Industrial Average reached a record closing high on Tuesday for a second straight day as financial and industrial shares rallied, while the Nasdaq fell.</p><p>The S&amp;P 500 ended slightly weaker after hitting an intraday all-time high. Declines in shares of big growth names including Tesla Inc weighed on the index and the Nasdaq Composite, which ended down more than 1%.</p><p>Economically sensitive energy, financials and industrials were the leading sectors in the S&amp;P 500, with financials eking out an all-time closing high.</p><p>Helping sentiment, the World Health Organization cited increasing evidence that the coronavirus variant caused milder symptoms than previous variants.</p><p>Earlier, U.S. manufacturing data for December showed some cooling in demand for goods, but investors took solace in signs of supply constraints easing.</p><p>The S&amp;P 500 bank index rose 3.5% in its biggest daily percentage gain in about a year.</p><p>Some strategists said financials and other value-oriented stocks could be near-term market leaders as investors gear up for interest rate hikes from the Federal Reserve by mid-year to curb high inflation. U.S. Treasury yields gained for a second trading day.</p><p>Investors are &#34;going to punish growth stocks with high valuations,&#34; said Robert Phipps, a director at Per Stirling Capital Management in Austin, Texas.</p><p>&#34;This is a time when defensive stocks and value stocks are likely to outperform.&#34;</p><p>The S&amp;P 500 value index jumped 1%, while the S&amp;P 500 growth index fell 1%.</p><p>The Dow Jones Industrial Average rose 214.59 points, or 0.59%, to 36,799.65; the S&amp;P 500 lost 3.02 points, or 0.06%, at 4,793.54; and the Nasdaq Composite dropped 210.08 points, or 1.33%, to 15,622.72.</p><p>The U.S. central bank said last month it would end its pandemic-era bond buying in 2022, signaling at least three interest rate hikes for the year. Minutes from the meeting are expected to be released on Wednesday.</p><p>Daniel Morgan, portfolio manager at Synovus Trust in Atlanta, said he still favored technology and growth shares, and was optimistic that fourth-quarter earnings for tech and the chip sector in particular could be stronger than Wall Street expectations.</p><p>Tesla shares fell 4.2%, a day after jumping more than 13% on stronger-than-expected quarterly deliveries.</p><p>Ford Motor Co jumped 11.7% after the automaker said it would nearly double annual production capacity for its red-hot F-150 Lightning electric pickup to 150,000 vehicles.</p><p>General Motors Co shares rallied 7.5% a day ahead of its public debut of the Chevrolet Silverado electric pickup, which is slated to go on sale in early 2023.</p><p>Advancing issues outnumbered decliners on the NYSE by a 1.12-to-1 ratio; on Nasdaq, a 1.44-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 70 new 52-week highs and one new low; the Nasdaq Composite recorded 104 new highs and 102 new lows.</p><p>Volume on U.S. exchanges was 11.49 billion shares, compared with about 10.4 billion average for the full session over the last 20 trading days.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dow posts closing record high for 2nd day, boosted by banks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDow posts closing record high for 2nd day, boosted by banks\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-01-05 06:47</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>* Financial sector registers all-time closing high</p><p>* Ford, GM shares rise as electric truck battle heats up</p><p>* Indexes: Dow up 0.6%, S&amp;P 500 down 0.06%, Nasdaq down 1.3%</p><p>NEW YORK, Jan 4 (Reuters) - The Dow Jones Industrial Average reached a record closing high on Tuesday for a second straight day as financial and industrial shares rallied, while the Nasdaq fell.</p><p>The S&amp;P 500 ended slightly weaker after hitting an intraday all-time high. Declines in shares of big growth names including Tesla Inc weighed on the index and the Nasdaq Composite, which ended down more than 1%.</p><p>Economically sensitive energy, financials and industrials were the leading sectors in the S&amp;P 500, with financials eking out an all-time closing high.</p><p>Helping sentiment, the World Health Organization cited increasing evidence that the coronavirus variant caused milder symptoms than previous variants.</p><p>Earlier, U.S. manufacturing data for December showed some cooling in demand for goods, but investors took solace in signs of supply constraints easing.</p><p>The S&amp;P 500 bank index rose 3.5% in its biggest daily percentage gain in about a year.</p><p>Some strategists said financials and other value-oriented stocks could be near-term market leaders as investors gear up for interest rate hikes from the Federal Reserve by mid-year to curb high inflation. U.S. Treasury yields gained for a second trading day.</p><p>Investors are &#34;going to punish growth stocks with high valuations,&#34; said Robert Phipps, a director at Per Stirling Capital Management in Austin, Texas.</p><p>&#34;This is a time when defensive stocks and value stocks are likely to outperform.&#34;</p><p>The S&amp;P 500 value index jumped 1%, while the S&amp;P 500 growth index fell 1%.</p><p>The Dow Jones Industrial Average rose 214.59 points, or 0.59%, to 36,799.65; the S&amp;P 500 lost 3.02 points, or 0.06%, at 4,793.54; and the Nasdaq Composite dropped 210.08 points, or 1.33%, to 15,622.72.</p><p>The U.S. central bank said last month it would end its pandemic-era bond buying in 2022, signaling at least three interest rate hikes for the year. Minutes from the meeting are expected to be released on Wednesday.</p><p>Daniel Morgan, portfolio manager at Synovus Trust in Atlanta, said he still favored technology and growth shares, and was optimistic that fourth-quarter earnings for tech and the chip sector in particular could be stronger than Wall Street expectations.</p><p>Tesla shares fell 4.2%, a day after jumping more than 13% on stronger-than-expected quarterly deliveries.</p><p>Ford Motor Co jumped 11.7% after the automaker said it would nearly double annual production capacity for its red-hot F-150 Lightning electric pickup to 150,000 vehicles.</p><p>General Motors Co shares rallied 7.5% a day ahead of its public debut of the Chevrolet Silverado electric pickup, which is slated to go on sale in early 2023.</p><p>Advancing issues outnumbered decliners on the NYSE by a 1.12-to-1 ratio; on Nasdaq, a 1.44-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 70 new 52-week highs and one new low; the Nasdaq Composite recorded 104 new highs and 102 new lows.</p><p>Volume on U.S. exchanges was 11.49 billion shares, compared with about 10.4 billion average for the full session over the last 20 trading days.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"F":"福特汽车","TSLA":"特斯拉","BK4548":"巴美列捷福持仓","GM":"通用汽车","BK4555":"新能源车","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4551":"寇图资本持仓","BK4099":"汽车制造商","BK4527":"明星科技股"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2201418283","content_text":"* Financial sector registers all-time closing high* Ford, GM shares rise as electric truck battle heats up* Indexes: Dow up 0.6%, S&P 500 down 0.06%, Nasdaq down 1.3%NEW YORK, Jan 4 (Reuters) - The Dow Jones Industrial Average reached a record closing high on Tuesday for a second straight day as financial and industrial shares rallied, while the Nasdaq fell.The S&P 500 ended slightly weaker after hitting an intraday all-time high. Declines in shares of big growth names including Tesla Inc weighed on the index and the Nasdaq Composite, which ended down more than 1%.Economically sensitive energy, financials and industrials were the leading sectors in the S&P 500, with financials eking out an all-time closing high.Helping sentiment, the World Health Organization cited increasing evidence that the coronavirus variant caused milder symptoms than previous variants.Earlier, U.S. manufacturing data for December showed some cooling in demand for goods, but investors took solace in signs of supply constraints easing.The S&P 500 bank index rose 3.5% in its biggest daily percentage gain in about a year.Some strategists said financials and other value-oriented stocks could be near-term market leaders as investors gear up for interest rate hikes from the Federal Reserve by mid-year to curb high inflation. U.S. Treasury yields gained for a second trading day.Investors are \"going to punish growth stocks with high valuations,\" said Robert Phipps, a director at Per Stirling Capital Management in Austin, Texas.\"This is a time when defensive stocks and value stocks are likely to outperform.\"The S&P 500 value index jumped 1%, while the S&P 500 growth index fell 1%.The Dow Jones Industrial Average rose 214.59 points, or 0.59%, to 36,799.65; the S&P 500 lost 3.02 points, or 0.06%, at 4,793.54; and the Nasdaq Composite dropped 210.08 points, or 1.33%, to 15,622.72.The U.S. central bank said last month it would end its pandemic-era bond buying in 2022, signaling at least three interest rate hikes for the year. Minutes from the meeting are expected to be released on Wednesday.Daniel Morgan, portfolio manager at Synovus Trust in Atlanta, said he still favored technology and growth shares, and was optimistic that fourth-quarter earnings for tech and the chip sector in particular could be stronger than Wall Street expectations.Tesla shares fell 4.2%, a day after jumping more than 13% on stronger-than-expected quarterly deliveries.Ford Motor Co jumped 11.7% after the automaker said it would nearly double annual production capacity for its red-hot F-150 Lightning electric pickup to 150,000 vehicles.General Motors Co shares rallied 7.5% a day ahead of its public debut of the Chevrolet Silverado electric pickup, which is slated to go on sale in early 2023.Advancing issues outnumbered decliners on the NYSE by a 1.12-to-1 ratio; on Nasdaq, a 1.44-to-1 ratio favored decliners.The S&P 500 posted 70 new 52-week highs and one new low; the Nasdaq Composite recorded 104 new highs and 102 new lows.Volume on U.S. exchanges was 11.49 billion shares, compared with about 10.4 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":226,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":885231072,"gmtCreate":1631795886496,"gmtModify":1676530637561,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/885231072","repostId":"1132437771","repostType":4,"repost":{"id":"1132437771","pubTimestamp":1631792549,"share":"https://ttm.financial/m/news/1132437771?lang=&edition=fundamental","pubTime":"2021-09-16 19:42","market":"us","language":"en","title":"Nvidia: Fundamentals Matter Less Than Ever","url":"https://stock-news.laohu8.com/highlight/detail?id=1132437771","media":"seekingalpha","summary":"Summary\n\nNvidia is an undisputed leader in the semiconductors space, with one of the most profitable","content":"<p><b>Summary</b></p>\n<ul>\n <li>Nvidia is an undisputed leader in the semiconductors space, with one of the most profitable business models.</li>\n <li>Investors' focus is usually put on the company's strong product roadmap, which is now less relevant for the share price performance.</li>\n <li>Due to its unique positioning, Nvidia's share price is now more sensitive to market-wide forces than it is to the company's business fundamentals.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/59d3f68e7d7037092fadd0ee8f1ab7d6\" tg-width=\"1536\" tg-height=\"1024\" referrerpolicy=\"no-referrer\"><span>wellesenterprises/iStock Editorial via Getty Images</span></p>\n<p>From a relatively small gaming company a couple of years ago, Nvidia (NVDA) has turned into one of the most important technological enterprises globally. From data centers &amp; cloud computing, driverless cars and all kinds of artificial intelligence computing workloads, to gaming, visualization &amp; cryptocurrency mining, Nvidia products are now the lifeblood of the new digital economy.</p>\n<p>Not only is Nvidia's intellectual property uniquely positioned within the new digital age, but the company is also an undisputed leader in the graphics processing unit(GPU)space with a very wide moat. This led to the success story called Nvidia.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4fc9ac68b953baa8a700911e6d0bae74\" tg-width=\"635\" tg-height=\"433\" referrerpolicy=\"no-referrer\"><span>Data by YCharts</span></p>\n<p>Going forward, however, share price returns are likely to disappoint even in the face of improving business fundamentals. It appears that certain market-wide risks are now in the driver's seat of Nvidia share price and could catch many of Nvidia shareholders off-guard. But before we dig into that, we need to properly account for the leading position business potential of the company.</p>\n<p><b>All about GPUs demand</b></p>\n<p>Even though the Gaming segment still takes a sizeable proportion of Nvidia's business, just over the course of four years Data Center has become equally important in size.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/98c28b9183a9848e6736b81b6d2a9c22\" tg-width=\"640\" tg-height=\"322\" referrerpolicy=\"no-referrer\"><span>Source: Nvidia Annual Investor Day 2021</span></p>\n<p>As if the already ongoing trend towards more cloud-based workloads was not enough, the current pandemic significantly accelerated the overall demand.</p>\n<p><img src=\"https://static.tigerbbs.com/25f8090d5c3afcbca0034dc19ebf87cd\" tg-width=\"610\" tg-height=\"456\" referrerpolicy=\"no-referrer\"></p>\n<p>In addition to data centers, the automotive industry is also starving for Nvidia's chips which made the company deeply embedded in the automotive ecosystem.</p>\n<blockquote>\n NVIDIA is working with several hundred partners in the automotive ecosystem including automakers, truck makers, tier one suppliers, sensor manufacturers, automotive research institutions, HD mapping companies, and startups to develop and deploy AI systems for self-driving vehicles.\n</blockquote>\n<blockquote>\n Source: Nvidia Annual Report 2021\n</blockquote>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8e19c38b0c31479f3ca070abe62f088d\" tg-width=\"640\" tg-height=\"322\" referrerpolicy=\"no-referrer\"><span>Source: Nvidia Annual Investor Day 2021</span></p>\n<p>Last but not least, the tug-of-war between gamers and cryptocurrency miners has resulted in both higher volume sales as well as higher pricing of Nvidia's GPUs. The uptick in energy consumption for cryptocurrency mining, coupled with the overall&nbsp;preference&nbsp;for Nvidia GPUs was yet another tailwind for the company's Gaming division.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7cde81f76201b5c7f5832202aaa17e08\" tg-width=\"1280\" tg-height=\"900\" referrerpolicy=\"no-referrer\"><span>Source: bbc.com</span></p>\n<p><b>Implications for the Income Statement</b></p>\n<p>The perfect storm for GPUs demand and Nvidia's leading position in the segment resulted in the 53% topline growth in fiscal year 2021 and 31% so far for the FY 2022.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9d2ffb1f7cf418f4f8b264dd72a22fd9\" tg-width=\"640\" tg-height=\"285\" referrerpolicy=\"no-referrer\"><span>Source: prepared by the author, using data from Seeking Alpha</span></p>\n<p>Going forward, NVDA is likely to sustain this high topline growth rate, which is expected to somehow cool-off following fiscal year 2022.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d980f7a5a4c4f88b24057841ca2db18b\" tg-width=\"640\" tg-height=\"135\" referrerpolicy=\"no-referrer\"><span>Source: Seeking Alpha</span></p>\n<p>The forward growth rate of NVDA is comparable only to that of its other GPU rival - AMD (AMD), which is expected to grow at a similar rate over the next two fiscal years.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/52527c42a41f66d31bcfaa80b46b1fcf\" tg-width=\"640\" tg-height=\"285\" referrerpolicy=\"no-referrer\"><span>* compounded annual growth rate from the most recently completed fiscal year's revenue to analysts' consensus revenue estimates for two fiscal years forward Source: prepared by the author, using data from Seeking Alpha</span></p>\n<p>However, while AMD's share price benefited massively from the strong GPU demand and its recent comeback to the CPU stage, Nvidia retained an industry-leading profitability.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/925c87e1ab20aef8c57bacc0190ac528\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"><span>Data by YCharts</span></p>\n<p>This allowed NVDA to spend significantly more than its rival AMD on Research &amp; Development expenses.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/176479e69a17e33e4ff51eecb22a9d79\" tg-width=\"640\" tg-height=\"285\" referrerpolicy=\"no-referrer\"><span>Source: prepared by the author, using data from Seeking Alpha</span></p>\n<p>Even adjusted for size, Nvidia has also been consistently outspending AMD on R&amp;D investments.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cc9947f932bee0cdc8168c3ba93b08cb\" tg-width=\"640\" tg-height=\"285\" referrerpolicy=\"no-referrer\"><span>Source: prepared by the author, using data from Seeking Alpha</span></p>\n<p>While organic growth opportunities for Nvidia might seem endless at this point in time, the semiconductors industry remains highly cyclical and sooner or later even the GPU demand will cool off.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1eb65f1081a7a5a1b44babd5de7c1a63\" tg-width=\"640\" tg-height=\"285\" referrerpolicy=\"no-referrer\"><span>Source: prepared by the author, using data from fred.stlouisfed.org and semi.org</span></p>\n<p>That is why, even in the midst of the GPU shortages, Nvidia management is capitalizing on its extremely high valuation by tapping into the strategic acquisition of ARM.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/811811f1ac57020a31ee1c4834476b46\" tg-width=\"640\" tg-height=\"284\" referrerpolicy=\"no-referrer\"><span>Source: Nvidia to acquire ARM presentation</span></p>\n<blockquote>\n Under the terms of the transaction, which has been approved by the boards of directors of NVIDIA, SBG and Arm, NVIDIA will pay to SoftBank a total of \n <i>$21.5 billion in NVIDIA common stock</i>and $12 billion in cash, which includes $2 billion payable at signing.\n</blockquote>\n<blockquote>\n <i>Source:nvidianews.nvidia.com</i>\n</blockquote>\n<p>The ARM deal, which is still under&nbsp;review&nbsp;by the regulators, was also one of the largest Tech deals for 2020.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fb6ec9cdf0fffb8d9ce13f7818ea7500\" tg-width=\"1024\" tg-height=\"887\" referrerpolicy=\"no-referrer\"><span>Source: cbinsights.com</span></p>\n<p>In addition to high M&amp;A activity being a sign of a peak in market valuations, analysts' sentiment on Nvidia is also exceptionally optimistic which suggests that the near-term growth is already priced in.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a011c8086483c73b9bb116684f5402d6\" tg-width=\"640\" tg-height=\"295\" referrerpolicy=\"no-referrer\"><span>Source: Seeking Alpha</span></p>\n<p><b>The value conundrum</b></p>\n<p>As rosy as everything seems for NVDA right now, there should a price that is simply too high even when accounting for Nvidia's strong positioning. So far as growth accelerated so did the company's P/E ratio, which suggests an even more optimistic future scenario. However, neither Nvidia's bottom line nor its earnings multiple can go on an upward trajectory forever.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ee7cb10de1973f49703e0262aeca3b12\" tg-width=\"635\" tg-height=\"417\" referrerpolicy=\"no-referrer\"><span>Data by YCharts</span></p>\n<p>After everything we said so far, we have some solid reasons to believe that the earnings per share (EPS) growth will be sustained for the time being, even in the face of the cyclical nature of the industry. But at such high valuations, the price premium attached to EPS growth is far more important for future returns. In other words, Nvidia's bottom line could fulfil even the rosiest forecasts but the share price could still disappoint, if the premium paid for high growth decreases.</p>\n<p>As we saw earlier, right now both NVDA and AMD are the two highest growth names in the semiconductors peer group and as such are rewarded by a proportionally higher earnings multiple.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/680a02fe38521c886f802828f1a86480\" tg-width=\"640\" tg-height=\"285\" referrerpolicy=\"no-referrer\"><span>Source: prepared by the author, using data from Seeking Alpha</span></p>\n<p>Due to Nvidia's leading positioning and higher profitability, the company lies above the trend line on the graph above.</p>\n<p>Interestingly enough, if we exclude the high-flying GPU companies, the R-Squared between the rest of the peer group is just 0.12 which means that there isn't a strong relationship between future growth and valuations for everything other than GPUs in the semiconductors space.</p>\n<p>This is due to the fact that NVDA and AMD chips are expected to have a more sustained growth beyond next year as GPUs remain crucial for data centers, autos, digital currencies and a number of other workloads related to artificial intelligence (AI).</p>\n<p>This also means that NVDA and AMD are among the highest duration stocks in the sample and as such the most sensitive to changes in interest rates. Meaning that all else being equal, NVDA and AMD shares will be hit much harder than those of their peers in an event of rising interest rates.</p>\n<p>That is why, NVDA Price-to-Sales ratio trails the performance of iShares 20+ Year Treasury Bond ETF (TLT), which is influenced by long-term bond yields.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4a706f8ec1fe650806ddbf2b3730c659\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"><span>Data by YCharts</span></p>\n<p>In the graph above, the TLT does a very good job at explaining movements in Nvidia's P/S ratio, with the exception of the last quarter of calendar year 2018, when crypto-related demand had a profound impact on the company's topline results.</p>\n<blockquote>\n Three factors contributed to the Q4 gaming revenue decline. First, \n <i>post crypto inventory of GPUs</i>in the channel caused us to reduce shipments in order to allow excess channel inventory to sell through. We expect channel inventory to normalize in Q1 in line with one to two quarter timeline we had outlined on our previous earnings call.\n</blockquote>\n<blockquote>\n Second, \n <i>deteriorating macro economic conditions,</i>impacted consumer demand for our GPUs; and third, sales of certain high end GPUs using our new Turing architecture, including the GeForce RTX 2080 and 2070 were lower than we expected for the launch of a new architecture.\n</blockquote>\n<blockquote>\n Source: Nvidia Q4 of FY 2019 earnings transcript\n</blockquote>\n<p>This also highlights the sensitivity of Nvidia share price to macroeconomic conditions in cryptocurrency-related demand as the share price halved from around $70 in September 2018 (4-to-1&nbsp;split&nbsp;adjusted) to around $35 in January of the following year.</p>\n<p><b>The elephant in the room</b></p>\n<p>The unprecedented amount of liquidity within the equity markets has been a blessing for high growth momentum stocks, which was one of the best performing areas of the market over the last decade. That is why it is worth noticing that lower interest rates have profound implications for returns of momentum stocks (see the graph below).</p>\n<p>In the graph below I measure momentum by taking a long position in the iShares Edge MSCI USA Momentum Factor ETF (MTUM) and a short position in the iShares Edge MSCI USA Value Factor ETF (VLUE).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2664fc3740387f87d6aa32f635ed3dd1\" tg-width=\"640\" tg-height=\"285\" referrerpolicy=\"no-referrer\"><span>Source: prepared by the author, using data from Yahoo! Finance and fred.stlouisfed.org</span></p>\n<p>After everything we said so far, it should come as no surprise that momentum stocks were one of the best performing areas of the market during 2020, when nominal yields on the 10-year government bonds fell below 1%. During this period, Nvidia share price more than doubled from around $60 (post-split) in January to $130 in December of the same year. And although the company does not make it into the largest holdings of MTUM, its share price was heavily influenced by the performance of the momentum factor.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb70e63d6055785d63a4d52fd5f41b73\" tg-width=\"640\" tg-height=\"422\" referrerpolicy=\"no-referrer\"><span>Source: ishares.com</span></p>\n<p>Nvidia's relationship with momentum factor (MTUM less VLUE) has become an even stronger over the recent months as its share price reached new all-time highs, with the rolling 1-year R-Squared of daily returns hovering above 0.35.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b30576794833fa9f35403aac0c68767b\" tg-width=\"640\" tg-height=\"285\" referrerpolicy=\"no-referrer\"><span>Source: prepared by the author, using data from Yahoo! Finance</span></p>\n<p>Since this might look as a coincidence, the relationship between NVDA and the momentum factor, as&nbsp;constructed&nbsp;by Fama &amp; French, also followed a similar pattern to the one used above.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ae61fb668ca8d5dcca59f74af5a02af7\" tg-width=\"640\" tg-height=\"285\" referrerpolicy=\"no-referrer\"><span>* up until 30th of June 2021 due to lack of more recent data Source: prepared by the author, using data from Yahoo! Finance &amp; Fama &amp; French</span></p>\n<p>Nvidia's exposure to the momentum factor is also much stronger than those of other high-flying growth names, such as AMD, Tesla (TSLA) and NIO (NIO).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e5dac0e96644db66820dce414e647ec\" tg-width=\"640\" tg-height=\"285\" referrerpolicy=\"no-referrer\"><span>Source: prepared by the author, using data from Yahoo! Finance</span></p>\n<p>Nvidia was one of the growth stocks that benefited the most from the recent drop in interest rates and as such is at the highest risk of a sharp reversal, should bond yields normalize. Adding the risk of lower demand from cryptocurrency mining, and the prospects of Nvidia share price continuing to outperform look slim. That is why, investors should not be surprised, if going forward Nvidia share price disappoints even as management continues to deliver on its strategy.</p>\n<p>Of course, there is always the possibility that the Federal Reserve will be unable to taper and bring bond yields to a more normalized level, which in itself will be enough to propel Nvidia's share price to new all-time highs. Nevertheless, this is a highly uncertain event that is also unrelated to Nvidia's business performance. Moreover, the outcome of this event will likely have a disproportionately higher influence on Nvidia's future share price performance than the company's products will.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia: Fundamentals Matter Less Than Ever</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia: Fundamentals Matter Less Than Ever\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-16 19:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4455441-nvidia-fundamentals-matter-less-than-ever><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nNvidia is an undisputed leader in the semiconductors space, with one of the most profitable business models.\nInvestors' focus is usually put on the company's strong product roadmap, which is ...</p>\n\n<a href=\"https://seekingalpha.com/article/4455441-nvidia-fundamentals-matter-less-than-ever\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://seekingalpha.com/article/4455441-nvidia-fundamentals-matter-less-than-ever","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132437771","content_text":"Summary\n\nNvidia is an undisputed leader in the semiconductors space, with one of the most profitable business models.\nInvestors' focus is usually put on the company's strong product roadmap, which is now less relevant for the share price performance.\nDue to its unique positioning, Nvidia's share price is now more sensitive to market-wide forces than it is to the company's business fundamentals.\n\nwellesenterprises/iStock Editorial via Getty Images\nFrom a relatively small gaming company a couple of years ago, Nvidia (NVDA) has turned into one of the most important technological enterprises globally. From data centers & cloud computing, driverless cars and all kinds of artificial intelligence computing workloads, to gaming, visualization & cryptocurrency mining, Nvidia products are now the lifeblood of the new digital economy.\nNot only is Nvidia's intellectual property uniquely positioned within the new digital age, but the company is also an undisputed leader in the graphics processing unit(GPU)space with a very wide moat. This led to the success story called Nvidia.\nData by YCharts\nGoing forward, however, share price returns are likely to disappoint even in the face of improving business fundamentals. It appears that certain market-wide risks are now in the driver's seat of Nvidia share price and could catch many of Nvidia shareholders off-guard. But before we dig into that, we need to properly account for the leading position business potential of the company.\nAll about GPUs demand\nEven though the Gaming segment still takes a sizeable proportion of Nvidia's business, just over the course of four years Data Center has become equally important in size.\nSource: Nvidia Annual Investor Day 2021\nAs if the already ongoing trend towards more cloud-based workloads was not enough, the current pandemic significantly accelerated the overall demand.\n\nIn addition to data centers, the automotive industry is also starving for Nvidia's chips which made the company deeply embedded in the automotive ecosystem.\n\n NVIDIA is working with several hundred partners in the automotive ecosystem including automakers, truck makers, tier one suppliers, sensor manufacturers, automotive research institutions, HD mapping companies, and startups to develop and deploy AI systems for self-driving vehicles.\n\n\n Source: Nvidia Annual Report 2021\n\nSource: Nvidia Annual Investor Day 2021\nLast but not least, the tug-of-war between gamers and cryptocurrency miners has resulted in both higher volume sales as well as higher pricing of Nvidia's GPUs. The uptick in energy consumption for cryptocurrency mining, coupled with the overall preference for Nvidia GPUs was yet another tailwind for the company's Gaming division.\nSource: bbc.com\nImplications for the Income Statement\nThe perfect storm for GPUs demand and Nvidia's leading position in the segment resulted in the 53% topline growth in fiscal year 2021 and 31% so far for the FY 2022.\nSource: prepared by the author, using data from Seeking Alpha\nGoing forward, NVDA is likely to sustain this high topline growth rate, which is expected to somehow cool-off following fiscal year 2022.\nSource: Seeking Alpha\nThe forward growth rate of NVDA is comparable only to that of its other GPU rival - AMD (AMD), which is expected to grow at a similar rate over the next two fiscal years.\n* compounded annual growth rate from the most recently completed fiscal year's revenue to analysts' consensus revenue estimates for two fiscal years forward Source: prepared by the author, using data from Seeking Alpha\nHowever, while AMD's share price benefited massively from the strong GPU demand and its recent comeback to the CPU stage, Nvidia retained an industry-leading profitability.\nData by YCharts\nThis allowed NVDA to spend significantly more than its rival AMD on Research & Development expenses.\nSource: prepared by the author, using data from Seeking Alpha\nEven adjusted for size, Nvidia has also been consistently outspending AMD on R&D investments.\nSource: prepared by the author, using data from Seeking Alpha\nWhile organic growth opportunities for Nvidia might seem endless at this point in time, the semiconductors industry remains highly cyclical and sooner or later even the GPU demand will cool off.\nSource: prepared by the author, using data from fred.stlouisfed.org and semi.org\nThat is why, even in the midst of the GPU shortages, Nvidia management is capitalizing on its extremely high valuation by tapping into the strategic acquisition of ARM.\nSource: Nvidia to acquire ARM presentation\n\n Under the terms of the transaction, which has been approved by the boards of directors of NVIDIA, SBG and Arm, NVIDIA will pay to SoftBank a total of \n $21.5 billion in NVIDIA common stockand $12 billion in cash, which includes $2 billion payable at signing.\n\n\nSource:nvidianews.nvidia.com\n\nThe ARM deal, which is still under review by the regulators, was also one of the largest Tech deals for 2020.\nSource: cbinsights.com\nIn addition to high M&A activity being a sign of a peak in market valuations, analysts' sentiment on Nvidia is also exceptionally optimistic which suggests that the near-term growth is already priced in.\nSource: Seeking Alpha\nThe value conundrum\nAs rosy as everything seems for NVDA right now, there should a price that is simply too high even when accounting for Nvidia's strong positioning. So far as growth accelerated so did the company's P/E ratio, which suggests an even more optimistic future scenario. However, neither Nvidia's bottom line nor its earnings multiple can go on an upward trajectory forever.\nData by YCharts\nAfter everything we said so far, we have some solid reasons to believe that the earnings per share (EPS) growth will be sustained for the time being, even in the face of the cyclical nature of the industry. But at such high valuations, the price premium attached to EPS growth is far more important for future returns. In other words, Nvidia's bottom line could fulfil even the rosiest forecasts but the share price could still disappoint, if the premium paid for high growth decreases.\nAs we saw earlier, right now both NVDA and AMD are the two highest growth names in the semiconductors peer group and as such are rewarded by a proportionally higher earnings multiple.\nSource: prepared by the author, using data from Seeking Alpha\nDue to Nvidia's leading positioning and higher profitability, the company lies above the trend line on the graph above.\nInterestingly enough, if we exclude the high-flying GPU companies, the R-Squared between the rest of the peer group is just 0.12 which means that there isn't a strong relationship between future growth and valuations for everything other than GPUs in the semiconductors space.\nThis is due to the fact that NVDA and AMD chips are expected to have a more sustained growth beyond next year as GPUs remain crucial for data centers, autos, digital currencies and a number of other workloads related to artificial intelligence (AI).\nThis also means that NVDA and AMD are among the highest duration stocks in the sample and as such the most sensitive to changes in interest rates. Meaning that all else being equal, NVDA and AMD shares will be hit much harder than those of their peers in an event of rising interest rates.\nThat is why, NVDA Price-to-Sales ratio trails the performance of iShares 20+ Year Treasury Bond ETF (TLT), which is influenced by long-term bond yields.\nData by YCharts\nIn the graph above, the TLT does a very good job at explaining movements in Nvidia's P/S ratio, with the exception of the last quarter of calendar year 2018, when crypto-related demand had a profound impact on the company's topline results.\n\n Three factors contributed to the Q4 gaming revenue decline. First, \n post crypto inventory of GPUsin the channel caused us to reduce shipments in order to allow excess channel inventory to sell through. We expect channel inventory to normalize in Q1 in line with one to two quarter timeline we had outlined on our previous earnings call.\n\n\n Second, \n deteriorating macro economic conditions,impacted consumer demand for our GPUs; and third, sales of certain high end GPUs using our new Turing architecture, including the GeForce RTX 2080 and 2070 were lower than we expected for the launch of a new architecture.\n\n\n Source: Nvidia Q4 of FY 2019 earnings transcript\n\nThis also highlights the sensitivity of Nvidia share price to macroeconomic conditions in cryptocurrency-related demand as the share price halved from around $70 in September 2018 (4-to-1 split adjusted) to around $35 in January of the following year.\nThe elephant in the room\nThe unprecedented amount of liquidity within the equity markets has been a blessing for high growth momentum stocks, which was one of the best performing areas of the market over the last decade. That is why it is worth noticing that lower interest rates have profound implications for returns of momentum stocks (see the graph below).\nIn the graph below I measure momentum by taking a long position in the iShares Edge MSCI USA Momentum Factor ETF (MTUM) and a short position in the iShares Edge MSCI USA Value Factor ETF (VLUE).\nSource: prepared by the author, using data from Yahoo! Finance and fred.stlouisfed.org\nAfter everything we said so far, it should come as no surprise that momentum stocks were one of the best performing areas of the market during 2020, when nominal yields on the 10-year government bonds fell below 1%. During this period, Nvidia share price more than doubled from around $60 (post-split) in January to $130 in December of the same year. And although the company does not make it into the largest holdings of MTUM, its share price was heavily influenced by the performance of the momentum factor.\nSource: ishares.com\nNvidia's relationship with momentum factor (MTUM less VLUE) has become an even stronger over the recent months as its share price reached new all-time highs, with the rolling 1-year R-Squared of daily returns hovering above 0.35.\nSource: prepared by the author, using data from Yahoo! Finance\nSince this might look as a coincidence, the relationship between NVDA and the momentum factor, as constructed by Fama & French, also followed a similar pattern to the one used above.\n* up until 30th of June 2021 due to lack of more recent data Source: prepared by the author, using data from Yahoo! Finance & Fama & French\nNvidia's exposure to the momentum factor is also much stronger than those of other high-flying growth names, such as AMD, Tesla (TSLA) and NIO (NIO).\nSource: prepared by the author, using data from Yahoo! Finance\nNvidia was one of the growth stocks that benefited the most from the recent drop in interest rates and as such is at the highest risk of a sharp reversal, should bond yields normalize. Adding the risk of lower demand from cryptocurrency mining, and the prospects of Nvidia share price continuing to outperform look slim. That is why, investors should not be surprised, if going forward Nvidia share price disappoints even as management continues to deliver on its strategy.\nOf course, there is always the possibility that the Federal Reserve will be unable to taper and bring bond yields to a more normalized level, which in itself will be enough to propel Nvidia's share price to new all-time highs. Nevertheless, this is a highly uncertain event that is also unrelated to Nvidia's business performance. Moreover, the outcome of this event will likely have a disproportionately higher influence on Nvidia's future share price performance than the company's products will.","news_type":1},"isVote":1,"tweetType":1,"viewCount":142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197521416,"gmtCreate":1621474596435,"gmtModify":1704358163823,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Comment pls","listText":"Comment pls","text":"Comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/197521416","repostId":"1129952039","repostType":4,"repost":{"id":"1129952039","pubTimestamp":1621466041,"share":"https://ttm.financial/m/news/1129952039?lang=&edition=fundamental","pubTime":"2021-05-20 07:14","market":"us","language":"en","title":"U.S. stocks drop after Fed minutes, crypto fall","url":"https://stock-news.laohu8.com/highlight/detail?id=1129952039","media":"Reuters","summary":"(Reuters) - Wall Street’s main indexes closed lower on Wednesday after minutes from an April Federal","content":"<p>(Reuters) - Wall Street’s main indexes closed lower on Wednesday after minutes from an April Federal Reserve meeting showed participants agreed the U.S. economy remained far from the central bank’s goals, with some considering discussions on tapering its bond buying program.</p><p>The S&amp;P 500 added to losses after the release of the minutes revealed a number of Fed policymakers thought that if the economy continued rapid progress, it would become appropriate “at some point” in upcoming meetings to begin discussing a tapering of the Fed’s monthly purchases of government bonds, a policy designed to keep long-term interest rates low.</p><p>“There continues to be a view and a perspective from the participants, as well as the Fed staff that these inflationary pressures that are beginning to become evident will remain transitory in their view and will likely recede as we transition into 2022,” said Bill Northey, senior investment director at U.S. Bank Wealth Management in Minneapolis.</p><p>Strong inflation readings and signs of a worker shortage in recent weeks have fueled fears and roiled stock markets despite reassurances from Fed officials that the rise in prices would be temporary.</p><p>All three main indexes hit their session lows in morning trade after opening sharply lower, then partially recovered before the release of the Fed minutes pressured them anew.</p><p>The Dow Jones Industrial Average fell 164.62 points, or 0.48%, to 33,896.04, the S&amp;P 500 lost 12.15 points, or 0.29%, to 4,115.68 and the Nasdaq Composite dropped 3.90 points, or 0.03%, to 13,299.74.</p><p>Volume on U.S. exchanges was 10.70 billion shares, compared with the 10.60 billion average for the full session over the last 20 trading days.</p><p>Contributing to a risk-off mood on Wednesday, Bitcoin and ether plunged in the wake of China’s move to ban financial and payment institutions from providing cryptocurrency services.</p><p>The two main digital currencies fell as much as 30% and 45%, respectively, but they significantly stemmed their losses in afternoon trading after two of their biggest backers -- Tesla Inc chief Elon Musk and Ark Invest’s chief executive officer Cathie Wood -- reiterated their support for bitcoin.</p><p>Crypto-exchange operator Coinbase Global ,miners Riot Blockchain and Marathon Digital Holdings saw their shares sharply decline on Wednesday.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 2.15-to-1 ratio; on Nasdaq, a 1.71-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 3 new 52-week highs and no new lows; the Nasdaq Composite recorded 34 new highs and 49 new lows.</p><p><b><i>Financial</i></b><b>&nbsp;</b><b><i>Report</i></b></p><p><a href=\"https://laohu8.com/NW/1160173685\" target=\"_blank\">4.5 Billion Parcels Expanded Market Share to 20.4%</a></p><p><a href=\"https://laohu8.com/NW/1178296022\" target=\"_blank\">KE Holdings EPS beats by $0.04, beats on revenue</a></p><p><a href=\"https://laohu8.com/NW/2136465859\" target=\"_blank\">Victoria's Secret parent L Brands swings to quarterly profit as sales rise</a></p><p><a href=\"https://laohu8.com/NW/2136594667\" target=\"_blank\">Cisco stock drops as higher costs amid chip shortage ding earnings outlook</a></p><p><a href=\"https://laohu8.com/NW/2136450339\" target=\"_blank\">Chip Design Software Firm Synopsys Trounces Fiscal Second-Quarter Targets</a></p>","source":"lsy1601381805984","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. stocks drop after Fed minutes, crypto fall</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. stocks drop after Fed minutes, crypto fall\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-20 07:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/usa-stocks/us-stocks-u-s-stocks-drop-after-fed-minutes-crypto-fall-idUSL2N2N639Y><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Reuters) - Wall Street’s main indexes closed lower on Wednesday after minutes from an April Federal Reserve meeting showed participants agreed the U.S. economy remained far from the central bank’s ...</p>\n\n<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-u-s-stocks-drop-after-fed-minutes-crypto-fall-idUSL2N2N639Y\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-u-s-stocks-drop-after-fed-minutes-crypto-fall-idUSL2N2N639Y","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129952039","content_text":"(Reuters) - Wall Street’s main indexes closed lower on Wednesday after minutes from an April Federal Reserve meeting showed participants agreed the U.S. economy remained far from the central bank’s goals, with some considering discussions on tapering its bond buying program.The S&P 500 added to losses after the release of the minutes revealed a number of Fed policymakers thought that if the economy continued rapid progress, it would become appropriate “at some point” in upcoming meetings to begin discussing a tapering of the Fed’s monthly purchases of government bonds, a policy designed to keep long-term interest rates low.“There continues to be a view and a perspective from the participants, as well as the Fed staff that these inflationary pressures that are beginning to become evident will remain transitory in their view and will likely recede as we transition into 2022,” said Bill Northey, senior investment director at U.S. Bank Wealth Management in Minneapolis.Strong inflation readings and signs of a worker shortage in recent weeks have fueled fears and roiled stock markets despite reassurances from Fed officials that the rise in prices would be temporary.All three main indexes hit their session lows in morning trade after opening sharply lower, then partially recovered before the release of the Fed minutes pressured them anew.The Dow Jones Industrial Average fell 164.62 points, or 0.48%, to 33,896.04, the S&P 500 lost 12.15 points, or 0.29%, to 4,115.68 and the Nasdaq Composite dropped 3.90 points, or 0.03%, to 13,299.74.Volume on U.S. exchanges was 10.70 billion shares, compared with the 10.60 billion average for the full session over the last 20 trading days.Contributing to a risk-off mood on Wednesday, Bitcoin and ether plunged in the wake of China’s move to ban financial and payment institutions from providing cryptocurrency services.The two main digital currencies fell as much as 30% and 45%, respectively, but they significantly stemmed their losses in afternoon trading after two of their biggest backers -- Tesla Inc chief Elon Musk and Ark Invest’s chief executive officer Cathie Wood -- reiterated their support for bitcoin.Crypto-exchange operator Coinbase Global ,miners Riot Blockchain and Marathon Digital Holdings saw their shares sharply decline on Wednesday.Declining issues outnumbered advancing ones on the NYSE by a 2.15-to-1 ratio; on Nasdaq, a 1.71-to-1 ratio favored decliners.The S&P 500 posted 3 new 52-week highs and no new lows; the Nasdaq Composite recorded 34 new highs and 49 new lows.Financial Report4.5 Billion Parcels Expanded Market Share to 20.4%KE Holdings EPS beats by $0.04, beats on revenueVictoria's Secret parent L Brands swings to quarterly profit as sales riseCisco stock drops as higher costs amid chip shortage ding earnings outlookChip Design Software Firm Synopsys Trounces Fiscal Second-Quarter Targets","news_type":1},"isVote":1,"tweetType":1,"viewCount":113,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3581853725647272","authorId":"3581853725647272","name":"JerlinTan","avatar":"https://static.tigerbbs.com/06e97d9d1f6e585d5dc673ff8fcc8386","crmLevel":2,"crmLevelSwitch":0,"idStr":"3581853725647272","authorIdStr":"3581853725647272"},"content":"Commented. Pls response back.","text":"Commented. Pls response back.","html":"Commented. Pls response back."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9093524393,"gmtCreate":1643676144972,"gmtModify":1676533842205,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9093524393","repostId":"2208335465","repostType":4,"repost":{"id":"2208335465","pubTimestamp":1643670433,"share":"https://ttm.financial/m/news/2208335465?lang=&edition=fundamental","pubTime":"2022-02-01 07:07","market":"us","language":"en","title":"US STOCKS-Nasdaq Narrowly Misses Worst January Ever as Wall Street Gains","url":"https://stock-news.laohu8.com/highlight/detail?id=2208335465","media":"Reuters","summary":"* Nasdaq posts worst January since 2008* S&P 500, Dow see worst month since March 2020* Citrix falls","content":"<html><head></head><body><p>* Nasdaq posts worst January since 2008</p><p>* S&amp;P 500, Dow see worst month since March 2020</p><p>* Citrix falls on $16.5 bln deal to take it private</p><p>* Indexes end up: Dow 1.17%, S&amp;P 1.89%, Nasdaq 3.41%</p><p>Jan 31 (Reuters) - U.S. stocks closed higher on Monday, at the end of a volatile month for Wall Street where the tech-heavy Nasdaq narrowly avoided its worst ever start to the year and the S&amp;P 500 recorded its weakest January performance since 2009.</p><p>Valuations of growth and technology stocks have come under increasing scrutiny, as investors fretted about companies trading at lofty valuations at a time when the U.S. Federal Reserve is set to begin raising interest rates to combat inflation and withdraw its pandemic stimulus measures.</p><p>In early Monday trading, the Nasdaq was on course to surpass its worst opening-month performance on record, when it fell 9.89% in 2008. However, after its best <a href=\"https://laohu8.com/S/AONE.U\">one</a>-day gain since March 2021, it closed out January down 8.99%.</p><p>&#34;At the end of the day, interest rates are going to have to move higher, and companies with high multiples will have to trade lower,&#34; said Decio Nascimento, chief investment officer of Norbury Partners.</p><p>He added that, with costs such as wages rising, there will be increased investor focus on sectors that can better handle those inflationary pressures, with less latitude for companies which promise future growth but which currently generate negative cash flow.</p><p>All of the 11 major S&amp;P sectors advanced, led by a 3.8% rise in consumer discretionary stocks. The gain was led by Tesla Inc, which jumped 10.7% after Credit Suisse raised the electric car maker&#39;s stock rating to &#34;outperform&#34;.</p><p>For January though, consumer discretionary was the worst performing sector, slipping 9.7%. In all, only the energy sector ended the month in positive territory, aided by oil prices hitting their highest level since October 2014 on Friday.</p><p>Overall, the bellwether S&amp;P 500 had its worst overall month since the pandemic-led crash in March 2020.</p><p>The U.S. Federal Reserve last week signaled it intends to combat the four-decade high inflation by hiking key interest rates more aggressively than many market participants expected.</p><p>Fed funds futures traders are pricing in almost five rate increases by year-end, with some banks, such as the Bank of America now eyeing seven hikes this year.</p><p>&#34;What the Fed did last week was to widen the spectrum of possibility of what rates could be in a year or two, so when you do that, you are going to create volatility in equities&#34; said Norbury Partners&#39; Nascimento.</p><p>Geopolitical tensions have added to market uncertainty, with the U.S. and its allies threatening Russia with new economic sanctions if it attacks Ukraine.</p><p>The Dow Jones Industrial Average rose 406.39 points, or 1.17%, to 35,131.86, the S&amp;P 500 gained 83.7 points, or 1.89%, to 4,515.55 and the Nasdaq Composite added 469.31 points, or 3.41%, to 14,239.88.</p><p>Boeing Co rose 5.1%. The U.S. planemaker secured a launch order from Qatar Airways for a new freighter version of its 777X passenger jet and a provisional order for 737 MAX jets.</p><p>Citrix Systems Inc&#39;s shares fell 3.4% after the software company said it had agreed to be taken private for $16.5 billion including debt by affiliates of Elliott Management and <a href=\"https://laohu8.com/S/VGL.AU\">Vista</a> Equity Partners.</p><p>Volume on U.S. exchanges was 12.67 billion shares, compared with the 12.37 billion average for the full session over the last 20 trading days.</p><p>The S&amp;P 500 posted eight new 52-week highs and no new lows; the Nasdaq Composite recorded 30 new highs and 45 new lows.</p></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US STOCKS-Nasdaq Narrowly Misses Worst January Ever as Wall Street Gains</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS STOCKS-Nasdaq Narrowly Misses Worst January Ever as Wall Street Gains\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-01 07:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/us-stocks-nasdaq-narrowly-misses-214318546.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>* Nasdaq posts worst January since 2008* S&P 500, Dow see worst month since March 2020* Citrix falls on $16.5 bln deal to take it private* Indexes end up: Dow 1.17%, S&P 1.89%, Nasdaq 3.41%Jan 31 (...</p>\n\n<a href=\"https://finance.yahoo.com/news/us-stocks-nasdaq-narrowly-misses-214318546.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CTXS":"思杰系统","BA":"波音","COMP":"Compass, Inc."},"source_url":"https://finance.yahoo.com/news/us-stocks-nasdaq-narrowly-misses-214318546.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2208335465","content_text":"* Nasdaq posts worst January since 2008* S&P 500, Dow see worst month since March 2020* Citrix falls on $16.5 bln deal to take it private* Indexes end up: Dow 1.17%, S&P 1.89%, Nasdaq 3.41%Jan 31 (Reuters) - U.S. stocks closed higher on Monday, at the end of a volatile month for Wall Street where the tech-heavy Nasdaq narrowly avoided its worst ever start to the year and the S&P 500 recorded its weakest January performance since 2009.Valuations of growth and technology stocks have come under increasing scrutiny, as investors fretted about companies trading at lofty valuations at a time when the U.S. Federal Reserve is set to begin raising interest rates to combat inflation and withdraw its pandemic stimulus measures.In early Monday trading, the Nasdaq was on course to surpass its worst opening-month performance on record, when it fell 9.89% in 2008. However, after its best one-day gain since March 2021, it closed out January down 8.99%.\"At the end of the day, interest rates are going to have to move higher, and companies with high multiples will have to trade lower,\" said Decio Nascimento, chief investment officer of Norbury Partners.He added that, with costs such as wages rising, there will be increased investor focus on sectors that can better handle those inflationary pressures, with less latitude for companies which promise future growth but which currently generate negative cash flow.All of the 11 major S&P sectors advanced, led by a 3.8% rise in consumer discretionary stocks. The gain was led by Tesla Inc, which jumped 10.7% after Credit Suisse raised the electric car maker's stock rating to \"outperform\".For January though, consumer discretionary was the worst performing sector, slipping 9.7%. In all, only the energy sector ended the month in positive territory, aided by oil prices hitting their highest level since October 2014 on Friday.Overall, the bellwether S&P 500 had its worst overall month since the pandemic-led crash in March 2020.The U.S. Federal Reserve last week signaled it intends to combat the four-decade high inflation by hiking key interest rates more aggressively than many market participants expected.Fed funds futures traders are pricing in almost five rate increases by year-end, with some banks, such as the Bank of America now eyeing seven hikes this year.\"What the Fed did last week was to widen the spectrum of possibility of what rates could be in a year or two, so when you do that, you are going to create volatility in equities\" said Norbury Partners' Nascimento.Geopolitical tensions have added to market uncertainty, with the U.S. and its allies threatening Russia with new economic sanctions if it attacks Ukraine.The Dow Jones Industrial Average rose 406.39 points, or 1.17%, to 35,131.86, the S&P 500 gained 83.7 points, or 1.89%, to 4,515.55 and the Nasdaq Composite added 469.31 points, or 3.41%, to 14,239.88.Boeing Co rose 5.1%. The U.S. planemaker secured a launch order from Qatar Airways for a new freighter version of its 777X passenger jet and a provisional order for 737 MAX jets.Citrix Systems Inc's shares fell 3.4% after the software company said it had agreed to be taken private for $16.5 billion including debt by affiliates of Elliott Management and Vista Equity Partners.Volume on U.S. exchanges was 12.67 billion shares, compared with the 12.37 billion average for the full session over the last 20 trading days.The S&P 500 posted eight new 52-week highs and no new lows; the Nasdaq Composite recorded 30 new highs and 45 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":146,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9099821882,"gmtCreate":1643332251773,"gmtModify":1676533806384,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9099821882","repostId":"1122320524","repostType":4,"repost":{"id":"1122320524","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1643321766,"share":"https://ttm.financial/m/news/1122320524?lang=&edition=fundamental","pubTime":"2022-01-28 06:16","market":"us","language":"en","title":"Apple Sales and Profit Top Estimates as Hit from Chip Shortages Eases","url":"https://stock-news.laohu8.com/highlight/detail?id=1122320524","media":"Reuters","summary":"Apple Inc on Thursday reported record sales in the holiday quarter, beating estimates due to high iP","content":"<html><head></head><body><p>Apple Inc on Thursday reported record sales in the holiday quarter, beating estimates due to high iPhone demand and growing subscribers, even as a chips shortage that it said has begun easing cost it over $6 billion in revenue.</p><p>Apple shares rose over 4% to $165.80 in after-hours trading. But they have been down 10% this year, in line with the broader market, as investors reconsider stocks that have soared during the pandemic and shift funds toward safer assets.</p><p><img src=\"https://static.tigerbbs.com/b9aae61d17bfaf1ba4c776a3135dc67c\" tg-width=\"842\" tg-height=\"619\" referrerpolicy=\"no-referrer\"/></p><p>The record results for the quarter ended Dec. 25 reflected what analysts have described as Apple taking advantage of its incredible size. The company, which has more than 1.8 billion active devices in the market, has been able to squeeze suppliers and manufacturers to produce big quantities of iPhones and other devices despite shortages brought on by the pandemic and most recently the Omicron variant.</p><p>&#34;They&#39;ve navigated the supply chain better than everybody, and it&#39;s showing in the results,&#34; said Ryan Reith, who studies the smartphone market for industry tracker IDC.</p><p>Demand during the holiday quarter outstripped supply in line with Apple&#39;s expectations, Chief Financial Officer Luca Maestri told Reuters in an interview, noting that the effect was more than $6 billion in lost sales. But he said constraints would decrease in the current quarter, ending in March.</p><p>&#34;The level of constraint will depend a lot on other companies, what will be the demand for chips from other companies and other industries. It&#39;s difficult for us to predict, so we try to focus on the short term,&#34; he said.</p><p>With few rival phones debuting in the holiday shopping season, the iPhone 13, which started shipping days before the quarter began, led to worldwide phone sales revenue for Apple of $71.6 billion, a 9% increase from the 2020 holiday season that handily beat Wall Street targets, according to Refinitiv data.</p><p>Apple&#39;s smartphone market share in China reached a record 23% in the holiday quarter, when it was the top-selling vendor there for the first time in six years, research firm Counterpoint Research reported on Wednesday.</p><p>The company&#39;s overall fiscal first-quarter revenue was $123.9 billion, 11% up from last year and higher than analysts&#39; average estimate of $118.7 billion. Profit was $34.6 billion, or $2.10 per share, compared with analysts&#39; expectations of $31 billion and $1.89 per share.</p><p>The pandemic has accelerated adoption of digital tools for communication, learning and entertainment, powering Apple to blowout sales across each of the company&#39;s segments, including computers, accessories and tablets.</p><p>Apple&#39;s services business, which covers paid apps such as Apple TV+, Apple Music and Apple Fitness, also has seen a big bump. Services revenue rose 24% to $19.5 billion, topping analysts&#39; estimates of $18.6 billion. The company has 785 million paying subscribers across its offerings, an increase from 620 million a year ago and 745 million last quarter.</p><p>Sales for iPads fell 14% to $7.25 billion compared with analyst estimates of $8.2 billion, seeming to confirm industry predictions that iPads would have low priority for any scarce parts.</p><p>Sales for Macs rose 25% to $10.9 billion compared with estimates of $9.5 billion, and sales for accessories rose 13% to $14.7 billion compared with estimates of $14.6 billion.</p><p>For investors, the growing services business is helping mitigate production challenges. Apple is trading at 27 times expected earnings over the next 12 months. While down from as much as 35 a year ago, it remains above the company&#39;s five-year average of 20 times expected earnings, according to Refinitiv.</p><p>Apple is facing antitrust pressure in the United States and Europe that could lead to new regulations that cut into its services revenue.</p><p>Late last month, the Dutch Authority for Consumers and Markets (ACM) ordered Apple to make changes for apps on offer in the Apple App Store in the Netherlands by Jan. 15 or face fines, after it found that the U.S. company had abused its market dominance by requiring dating app developers to exclusively use Apple&#39;s in-app payment system.</p><p>Supply chain issues are dragging on and concern remains about how long it will take Apple to deliver its next big product, such as an augmented reality headset or an electric vehicle.</p><p>Apple had reported strong customer response to its latest release, the AirTag, when the accessory began shipping in the fiscal third quarter of 2021.</p><p>Apple posted a rare revenue miss in the fiscal quarter ended Sept. 25, which CEO Tim Cook attributed to pandemic-related supply constraints and manufacturing disruptions that together cost the company an estimated $6 billion in sales.</p><p>But smaller rivals are struggling to keep up with production, leading to Apple market share gains in regions such as China, said Angelo Zino of CFRA Research in a research note.</p><p>&#34;Since Apple has many customized components going into the iPhones, Macs, Apple Watch and others and the scale (volume and price) at which it procures, Apple has been able to lock-in suppliers’ capacities to timely produce those parts with lesser delays,&#34; said Neil Shah of Counterpoint Research.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Sales and Profit Top Estimates as Hit from Chip Shortages Eases</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Sales and Profit Top Estimates as Hit from Chip Shortages Eases\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-01-28 06:16</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Apple Inc on Thursday reported record sales in the holiday quarter, beating estimates due to high iPhone demand and growing subscribers, even as a chips shortage that it said has begun easing cost it over $6 billion in revenue.</p><p>Apple shares rose over 4% to $165.80 in after-hours trading. But they have been down 10% this year, in line with the broader market, as investors reconsider stocks that have soared during the pandemic and shift funds toward safer assets.</p><p><img src=\"https://static.tigerbbs.com/b9aae61d17bfaf1ba4c776a3135dc67c\" tg-width=\"842\" tg-height=\"619\" referrerpolicy=\"no-referrer\"/></p><p>The record results for the quarter ended Dec. 25 reflected what analysts have described as Apple taking advantage of its incredible size. The company, which has more than 1.8 billion active devices in the market, has been able to squeeze suppliers and manufacturers to produce big quantities of iPhones and other devices despite shortages brought on by the pandemic and most recently the Omicron variant.</p><p>&#34;They&#39;ve navigated the supply chain better than everybody, and it&#39;s showing in the results,&#34; said Ryan Reith, who studies the smartphone market for industry tracker IDC.</p><p>Demand during the holiday quarter outstripped supply in line with Apple&#39;s expectations, Chief Financial Officer Luca Maestri told Reuters in an interview, noting that the effect was more than $6 billion in lost sales. But he said constraints would decrease in the current quarter, ending in March.</p><p>&#34;The level of constraint will depend a lot on other companies, what will be the demand for chips from other companies and other industries. It&#39;s difficult for us to predict, so we try to focus on the short term,&#34; he said.</p><p>With few rival phones debuting in the holiday shopping season, the iPhone 13, which started shipping days before the quarter began, led to worldwide phone sales revenue for Apple of $71.6 billion, a 9% increase from the 2020 holiday season that handily beat Wall Street targets, according to Refinitiv data.</p><p>Apple&#39;s smartphone market share in China reached a record 23% in the holiday quarter, when it was the top-selling vendor there for the first time in six years, research firm Counterpoint Research reported on Wednesday.</p><p>The company&#39;s overall fiscal first-quarter revenue was $123.9 billion, 11% up from last year and higher than analysts&#39; average estimate of $118.7 billion. Profit was $34.6 billion, or $2.10 per share, compared with analysts&#39; expectations of $31 billion and $1.89 per share.</p><p>The pandemic has accelerated adoption of digital tools for communication, learning and entertainment, powering Apple to blowout sales across each of the company&#39;s segments, including computers, accessories and tablets.</p><p>Apple&#39;s services business, which covers paid apps such as Apple TV+, Apple Music and Apple Fitness, also has seen a big bump. Services revenue rose 24% to $19.5 billion, topping analysts&#39; estimates of $18.6 billion. The company has 785 million paying subscribers across its offerings, an increase from 620 million a year ago and 745 million last quarter.</p><p>Sales for iPads fell 14% to $7.25 billion compared with analyst estimates of $8.2 billion, seeming to confirm industry predictions that iPads would have low priority for any scarce parts.</p><p>Sales for Macs rose 25% to $10.9 billion compared with estimates of $9.5 billion, and sales for accessories rose 13% to $14.7 billion compared with estimates of $14.6 billion.</p><p>For investors, the growing services business is helping mitigate production challenges. Apple is trading at 27 times expected earnings over the next 12 months. While down from as much as 35 a year ago, it remains above the company&#39;s five-year average of 20 times expected earnings, according to Refinitiv.</p><p>Apple is facing antitrust pressure in the United States and Europe that could lead to new regulations that cut into its services revenue.</p><p>Late last month, the Dutch Authority for Consumers and Markets (ACM) ordered Apple to make changes for apps on offer in the Apple App Store in the Netherlands by Jan. 15 or face fines, after it found that the U.S. company had abused its market dominance by requiring dating app developers to exclusively use Apple&#39;s in-app payment system.</p><p>Supply chain issues are dragging on and concern remains about how long it will take Apple to deliver its next big product, such as an augmented reality headset or an electric vehicle.</p><p>Apple had reported strong customer response to its latest release, the AirTag, when the accessory began shipping in the fiscal third quarter of 2021.</p><p>Apple posted a rare revenue miss in the fiscal quarter ended Sept. 25, which CEO Tim Cook attributed to pandemic-related supply constraints and manufacturing disruptions that together cost the company an estimated $6 billion in sales.</p><p>But smaller rivals are struggling to keep up with production, leading to Apple market share gains in regions such as China, said Angelo Zino of CFRA Research in a research note.</p><p>&#34;Since Apple has many customized components going into the iPhones, Macs, Apple Watch and others and the scale (volume and price) at which it procures, Apple has been able to lock-in suppliers’ capacities to timely produce those parts with lesser delays,&#34; said Neil Shah of Counterpoint Research.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122320524","content_text":"Apple Inc on Thursday reported record sales in the holiday quarter, beating estimates due to high iPhone demand and growing subscribers, even as a chips shortage that it said has begun easing cost it over $6 billion in revenue.Apple shares rose over 4% to $165.80 in after-hours trading. But they have been down 10% this year, in line with the broader market, as investors reconsider stocks that have soared during the pandemic and shift funds toward safer assets.The record results for the quarter ended Dec. 25 reflected what analysts have described as Apple taking advantage of its incredible size. The company, which has more than 1.8 billion active devices in the market, has been able to squeeze suppliers and manufacturers to produce big quantities of iPhones and other devices despite shortages brought on by the pandemic and most recently the Omicron variant.\"They've navigated the supply chain better than everybody, and it's showing in the results,\" said Ryan Reith, who studies the smartphone market for industry tracker IDC.Demand during the holiday quarter outstripped supply in line with Apple's expectations, Chief Financial Officer Luca Maestri told Reuters in an interview, noting that the effect was more than $6 billion in lost sales. But he said constraints would decrease in the current quarter, ending in March.\"The level of constraint will depend a lot on other companies, what will be the demand for chips from other companies and other industries. It's difficult for us to predict, so we try to focus on the short term,\" he said.With few rival phones debuting in the holiday shopping season, the iPhone 13, which started shipping days before the quarter began, led to worldwide phone sales revenue for Apple of $71.6 billion, a 9% increase from the 2020 holiday season that handily beat Wall Street targets, according to Refinitiv data.Apple's smartphone market share in China reached a record 23% in the holiday quarter, when it was the top-selling vendor there for the first time in six years, research firm Counterpoint Research reported on Wednesday.The company's overall fiscal first-quarter revenue was $123.9 billion, 11% up from last year and higher than analysts' average estimate of $118.7 billion. Profit was $34.6 billion, or $2.10 per share, compared with analysts' expectations of $31 billion and $1.89 per share.The pandemic has accelerated adoption of digital tools for communication, learning and entertainment, powering Apple to blowout sales across each of the company's segments, including computers, accessories and tablets.Apple's services business, which covers paid apps such as Apple TV+, Apple Music and Apple Fitness, also has seen a big bump. Services revenue rose 24% to $19.5 billion, topping analysts' estimates of $18.6 billion. The company has 785 million paying subscribers across its offerings, an increase from 620 million a year ago and 745 million last quarter.Sales for iPads fell 14% to $7.25 billion compared with analyst estimates of $8.2 billion, seeming to confirm industry predictions that iPads would have low priority for any scarce parts.Sales for Macs rose 25% to $10.9 billion compared with estimates of $9.5 billion, and sales for accessories rose 13% to $14.7 billion compared with estimates of $14.6 billion.For investors, the growing services business is helping mitigate production challenges. Apple is trading at 27 times expected earnings over the next 12 months. While down from as much as 35 a year ago, it remains above the company's five-year average of 20 times expected earnings, according to Refinitiv.Apple is facing antitrust pressure in the United States and Europe that could lead to new regulations that cut into its services revenue.Late last month, the Dutch Authority for Consumers and Markets (ACM) ordered Apple to make changes for apps on offer in the Apple App Store in the Netherlands by Jan. 15 or face fines, after it found that the U.S. company had abused its market dominance by requiring dating app developers to exclusively use Apple's in-app payment system.Supply chain issues are dragging on and concern remains about how long it will take Apple to deliver its next big product, such as an augmented reality headset or an electric vehicle.Apple had reported strong customer response to its latest release, the AirTag, when the accessory began shipping in the fiscal third quarter of 2021.Apple posted a rare revenue miss in the fiscal quarter ended Sept. 25, which CEO Tim Cook attributed to pandemic-related supply constraints and manufacturing disruptions that together cost the company an estimated $6 billion in sales.But smaller rivals are struggling to keep up with production, leading to Apple market share gains in regions such as China, said Angelo Zino of CFRA Research in a research note.\"Since Apple has many customized components going into the iPhones, Macs, Apple Watch and others and the scale (volume and price) at which it procures, Apple has been able to lock-in suppliers’ capacities to timely produce those parts with lesser delays,\" said Neil Shah of Counterpoint Research.","news_type":1},"isVote":1,"tweetType":1,"viewCount":201,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9005597880,"gmtCreate":1642341288406,"gmtModify":1676533702350,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9005597880","repostId":"2203327742","repostType":4,"repost":{"id":"2203327742","pubTimestamp":1642295090,"share":"https://ttm.financial/m/news/2203327742?lang=&edition=fundamental","pubTime":"2022-01-16 09:04","market":"us","language":"en","title":"The Fed Is Raising Interest Rates: These Growth Stocks Can Still Double in 2022","url":"https://stock-news.laohu8.com/highlight/detail?id=2203327742","media":"Motley Fool","summary":"Worried about fighting the Fed? Don't miss out on these potentially explosive stocks.","content":"<html><head></head><body><p>Federal Reserve Chairman Jerome Powell recently confirmed that the central bank will be raising interest rates this year, and previous comments suggest that multiple rate hikes could be in the works. Rising interest rates have typically meant a much weaker backdrop for growth stocks, but there are also companies in the category that already trade at steep discounts and could be poised for big gains despite less favorable macroeconomic conditions.</p><p>With that in mind, a panel of Motley Fool contributors has profiled stocks that could still be capable of doubling before the year is out. Read on to see why they identified <b>Fiverr International</b> (NYSE:FVRR), <b>Pinterest</b> (NYSE:PINS), <b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a></b> (NASDAQ:PYPL), and <b><a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a></b> (NASDAQ:MELI) as stocks that could thrive through macroeconomic pressures and double in 2022.</p><h2><b>This beaten-down stock has huge upside</b></h2><p><b>Keith Noonan (Fiverr International): </b>Fiverr International provides an online marketplace for contract-based labor, and it&#39;s poised to play a big role in the rise of the gig economy. In addition to offering new work opportunities for individuals, hiring through Fiverr&#39;s platform can offer some big advantages for businesses. Compared to a full-time employee, hiring a remote worker on a contract basis cuts down on office expenses, payroll taxes, and employee benefits. It&#39;s this dynamic in particular that sets Fiverr up to be a stellar long-term performer.</p><p>With the Fed set to raise interest rates this year, the market is bailing out of companies that aren&#39;t close to posting profits or are highly reliant on debt to fund operations. The good news is that Fiverr doesn&#39;t fall into either of these categories.</p><p>The business actually posted a small adjusted profit in the third quarter, and its 42% year-over-year sales growth and 83.3% gross margin in the quarter point to huge earnings growth potential. The company also ended Q3 with roughly $145.6 million in cash and short-term assets against just $426,000 in long-term loans and other non-current liabilities.</p><p>Right now, Fiverr International is spending big on marketing and building out its technology platform, but it should be able to reduce its expenses as a percentage of sales amid strong momentum for the business. That should help facilitate a shift into delivering strong earnings growth. With the stock down roughly 55% over the last year and a staggering 75% from its 52-week high, Fiverr could conceivably double even if the Fed throws some curve balls.</p><h2>Step into the market&#39;s mistaken sell-offs</h2><p><b>James Brumley</b> <b>(Pinterest):</b> To be clear, the average investor probably shouldn&#39;t specifically be aiming to double their money in any year, particularly if we&#39;re talking about using the bulk of a portfolio&#39;s value to take that swing. On the other hand, if it happens with a bit of your &#34;funny money,&#34; so to speak, then it happens.</p><p>With that as the backdrop, I don&#39;t think the most viable way of turning $1,000 into $2,000 in 2022 is using leveraged instruments like equity options or leveraged exchange-traded funds like the <b>ProShares UltraPro S&amp;P 500 Fund</b>. Rather, the saner and far more accessible means of bagging a home run this year is stepping into <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the stocks that the market needlessly beat down last year.</p><p>A prospect like Pinterest comes to mind. This stock was all the rage in 2020 when people were in lockdown due to the pandemic and bored out of their minds. Shares peeled back more than 60% from their early 2021 high, however, once investors realized they expected a little more monetization from this traffic surge than Pinterest was ready to produce at the time. The irony is, Pinterest has implemented several new initiatives in the meantime that should put the company on this path toward ramped-up revenue. Analysts are looking for revenue growth of 25% this year alone.</p><p>Pinterest isn&#39;t your only option of the ilk, of course. It&#39;s just an example. There are a bunch of solid companies behind miserably performing stocks for the past several months. You just have to go out and do a little digging.</p><h2>Stick to your convictions whether the market agrees with you or not</h2><p><b>Daniel Foelber (PayPal and MercadoLibre):</b> When thinking about what stock can double in 2022, it&#39;s important to understand just how difficult that is to accomplish. For example, the average annual return of the <b>S&amp;P 500</b> is only 8%. Doubling your money &#34;normally&#34; takes nine years. However, the S&amp;P 500 has been way hotter since the financial crisis. In fact, the average return between 2009 and 2021 was 14.2% per year -- a 428% gain in total in that 13-year stretch.</p><p>The S&amp;P 500 also doubled between Jan. 1, 2019 and Dec. 31, 2021, a feat it has only ever done in the late 1990s and may never do again.</p><p>I think it&#39;s never a good idea to pick a stock in the hopes that it doubles over the short to medium term. The stock market can be unpredictable in a year&#39;s time. For example, the three worst-performing sectors in the S&amp;P 500 in 2020 were energy, real estate, and financials. The exact opposite happened in 2021, when the average stock in the energy sector gained over 50%, real estate was the second-best performer at 46%, and financials were the third-best at 35%.</p><p>Similarly, pandemic-related growth stocks like <b><a href=\"https://laohu8.com/S/ZM\">Zoom</a></b>,<b> Teladoc</b>, and Fiverr all more than doubled in 2020, gaining 730%, 396%, and 139%, respectively. But in 2021, each of those three stocks lost between 42% and 54% of its value.</p><p>The lesson here is that chasing what&#39;s working one year and dumping what isn&#39;t is usually a great way to lose money. Sticking to companies that you understand and that have excellent long-term growth prospects reduces randomness. In terms of a best buy now, for me it&#39;s a high-quality industry-leading growth stock like PayPal or MercadoLibre. Both stocks are down 40% from their 52-week highs, but each business has incredible long-term potential. It&#39;s anyone&#39;s guess if either stock doubles this year. But I&#39;m confident that both will double from their current prices at some point in the future.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Fed Is Raising Interest Rates: These Growth Stocks Can Still Double in 2022</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Fed Is Raising Interest Rates: These Growth Stocks Can Still Double in 2022\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-16 09:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/01/15/the-fed-is-raising-interest-rates-these-growth-sto/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Federal Reserve Chairman Jerome Powell recently confirmed that the central bank will be raising interest rates this year, and previous comments suggest that multiple rate hikes could be in the works. ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/01/15/the-fed-is-raising-interest-rates-these-growth-sto/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FVRR":"Fiverr International Ltd.","BK4504":"桥水持仓","BK4548":"巴美列捷福持仓","MELI":"MercadoLibre","PINS":"Pinterest, Inc.","BK4554":"元宇宙及AR概念","BK4106":"数据处理与外包服务","BK4551":"寇图资本持仓","SPY":"标普500ETF","BK4534":"瑞士信贷持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4566":"资本集团","PYPL":"PayPal","BK4535":"淡马锡持仓","BK4524":"宅经济概念","BK4508":"社交媒体","BK4559":"巴菲特持仓","BK4077":"互动媒体与服务","BK4527":"明星科技股","BK4550":"红杉资本持仓",".SPX":"S&P 500 Index","BK4122":"互联网与直销零售"},"source_url":"https://www.fool.com/investing/2022/01/15/the-fed-is-raising-interest-rates-these-growth-sto/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2203327742","content_text":"Federal Reserve Chairman Jerome Powell recently confirmed that the central bank will be raising interest rates this year, and previous comments suggest that multiple rate hikes could be in the works. Rising interest rates have typically meant a much weaker backdrop for growth stocks, but there are also companies in the category that already trade at steep discounts and could be poised for big gains despite less favorable macroeconomic conditions.With that in mind, a panel of Motley Fool contributors has profiled stocks that could still be capable of doubling before the year is out. Read on to see why they identified Fiverr International (NYSE:FVRR), Pinterest (NYSE:PINS), PayPal (NASDAQ:PYPL), and MercadoLibre (NASDAQ:MELI) as stocks that could thrive through macroeconomic pressures and double in 2022.This beaten-down stock has huge upsideKeith Noonan (Fiverr International): Fiverr International provides an online marketplace for contract-based labor, and it's poised to play a big role in the rise of the gig economy. In addition to offering new work opportunities for individuals, hiring through Fiverr's platform can offer some big advantages for businesses. Compared to a full-time employee, hiring a remote worker on a contract basis cuts down on office expenses, payroll taxes, and employee benefits. It's this dynamic in particular that sets Fiverr up to be a stellar long-term performer.With the Fed set to raise interest rates this year, the market is bailing out of companies that aren't close to posting profits or are highly reliant on debt to fund operations. The good news is that Fiverr doesn't fall into either of these categories.The business actually posted a small adjusted profit in the third quarter, and its 42% year-over-year sales growth and 83.3% gross margin in the quarter point to huge earnings growth potential. The company also ended Q3 with roughly $145.6 million in cash and short-term assets against just $426,000 in long-term loans and other non-current liabilities.Right now, Fiverr International is spending big on marketing and building out its technology platform, but it should be able to reduce its expenses as a percentage of sales amid strong momentum for the business. That should help facilitate a shift into delivering strong earnings growth. With the stock down roughly 55% over the last year and a staggering 75% from its 52-week high, Fiverr could conceivably double even if the Fed throws some curve balls.Step into the market's mistaken sell-offsJames Brumley (Pinterest): To be clear, the average investor probably shouldn't specifically be aiming to double their money in any year, particularly if we're talking about using the bulk of a portfolio's value to take that swing. On the other hand, if it happens with a bit of your \"funny money,\" so to speak, then it happens.With that as the backdrop, I don't think the most viable way of turning $1,000 into $2,000 in 2022 is using leveraged instruments like equity options or leveraged exchange-traded funds like the ProShares UltraPro S&P 500 Fund. Rather, the saner and far more accessible means of bagging a home run this year is stepping into one of the stocks that the market needlessly beat down last year.A prospect like Pinterest comes to mind. This stock was all the rage in 2020 when people were in lockdown due to the pandemic and bored out of their minds. Shares peeled back more than 60% from their early 2021 high, however, once investors realized they expected a little more monetization from this traffic surge than Pinterest was ready to produce at the time. The irony is, Pinterest has implemented several new initiatives in the meantime that should put the company on this path toward ramped-up revenue. Analysts are looking for revenue growth of 25% this year alone.Pinterest isn't your only option of the ilk, of course. It's just an example. There are a bunch of solid companies behind miserably performing stocks for the past several months. You just have to go out and do a little digging.Stick to your convictions whether the market agrees with you or notDaniel Foelber (PayPal and MercadoLibre): When thinking about what stock can double in 2022, it's important to understand just how difficult that is to accomplish. For example, the average annual return of the S&P 500 is only 8%. Doubling your money \"normally\" takes nine years. However, the S&P 500 has been way hotter since the financial crisis. In fact, the average return between 2009 and 2021 was 14.2% per year -- a 428% gain in total in that 13-year stretch.The S&P 500 also doubled between Jan. 1, 2019 and Dec. 31, 2021, a feat it has only ever done in the late 1990s and may never do again.I think it's never a good idea to pick a stock in the hopes that it doubles over the short to medium term. The stock market can be unpredictable in a year's time. For example, the three worst-performing sectors in the S&P 500 in 2020 were energy, real estate, and financials. The exact opposite happened in 2021, when the average stock in the energy sector gained over 50%, real estate was the second-best performer at 46%, and financials were the third-best at 35%.Similarly, pandemic-related growth stocks like Zoom, Teladoc, and Fiverr all more than doubled in 2020, gaining 730%, 396%, and 139%, respectively. But in 2021, each of those three stocks lost between 42% and 54% of its value.The lesson here is that chasing what's working one year and dumping what isn't is usually a great way to lose money. Sticking to companies that you understand and that have excellent long-term growth prospects reduces randomness. In terms of a best buy now, for me it's a high-quality industry-leading growth stock like PayPal or MercadoLibre. Both stocks are down 40% from their 52-week highs, but each business has incredible long-term potential. It's anyone's guess if either stock doubles this year. But I'm confident that both will double from their current prices at some point in the future.","news_type":1},"isVote":1,"tweetType":1,"viewCount":205,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9000844319,"gmtCreate":1640131771880,"gmtModify":1676533502236,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9000844319","repostId":"2193409169","repostType":4,"repost":{"id":"2193409169","pubTimestamp":1640130748,"share":"https://ttm.financial/m/news/2193409169?lang=&edition=fundamental","pubTime":"2021-12-22 07:52","market":"us","language":"en","title":"Musk Tweet Fund Adminstrator Isn’t Filing Statements, Judge Says","url":"https://stock-news.laohu8.com/highlight/detail?id=2193409169","media":"Bloomberg","summary":"A judge is questioning the status of a $40 million fund that was established from fines paid by Elon","content":"<p>A judge is questioning the status of a $40 million fund that was established from fines paid by Elon Musk and Tesla Inc. over controversial tweets.</p>\n<p><img src=\"https://static.tigerbbs.com/34303fe3ef3b8cde9055b821a3e00b6b\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"></p>\n<p>The firm appointed in May to administer distributions from the fund, set up by the U.S. Securities and Exchange Commission for harmed investors, hasn’t filed required accounting statements, U.S. District Judge Alison Nathan said in an order Tuesday. She directed Rust Consulting to submit a status report by Jan. 7.</p>\n<p>The SEC reached a settlement with Musk and Tesla in September 2018 after suing the billionaire over his tweeted claims weeks earlier that he had the funding and investor support to buy out stockholders at $420 a share. The SEC alleged the tweets were false, and while Musk and Tesla didn’t admit to wrongdoing as part of the accord, the agency set up a so-called Fair Fund to repay investors harmed by Musk’s statements.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Musk Tweet Fund Adminstrator Isn’t Filing Statements, Judge Says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMusk Tweet Fund Adminstrator Isn’t Filing Statements, Judge Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-22 07:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-12-21/musk-tweet-fund-adminstrator-isn-t-filing-statements-judge-says?srnd=technology-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A judge is questioning the status of a $40 million fund that was established from fines paid by Elon Musk and Tesla Inc. over controversial tweets.\n\nThe firm appointed in May to administer ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-12-21/musk-tweet-fund-adminstrator-isn-t-filing-statements-judge-says?srnd=technology-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.bloomberg.com/news/articles/2021-12-21/musk-tweet-fund-adminstrator-isn-t-filing-statements-judge-says?srnd=technology-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2193409169","content_text":"A judge is questioning the status of a $40 million fund that was established from fines paid by Elon Musk and Tesla Inc. over controversial tweets.\n\nThe firm appointed in May to administer distributions from the fund, set up by the U.S. Securities and Exchange Commission for harmed investors, hasn’t filed required accounting statements, U.S. District Judge Alison Nathan said in an order Tuesday. She directed Rust Consulting to submit a status report by Jan. 7.\nThe SEC reached a settlement with Musk and Tesla in September 2018 after suing the billionaire over his tweeted claims weeks earlier that he had the funding and investor support to buy out stockholders at $420 a share. The SEC alleged the tweets were false, and while Musk and Tesla didn’t admit to wrongdoing as part of the accord, the agency set up a so-called Fair Fund to repay investors harmed by Musk’s statements.","news_type":1},"isVote":1,"tweetType":1,"viewCount":137,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832027294,"gmtCreate":1629546562918,"gmtModify":1676530068817,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/832027294","repostId":"1151608193","repostType":4,"repost":{"id":"1151608193","pubTimestamp":1629728324,"share":"https://ttm.financial/m/news/1151608193?lang=&edition=fundamental","pubTime":"2021-08-23 22:18","market":"us","language":"en","title":"Buy the pullback in chip stocks — and focus on these 6 companies for the long haul","url":"https://stock-news.laohu8.com/highlight/detail?id=1151608193","media":"MarketWatch","summary":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correcti","content":"<p><b>The iShares Semiconductor ETF is down over 6% from recent highs.</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b24e4a76a5d1cd0ff030cf1b0eeac0f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>ISTOCKPHOTO</span></p>\n<p>In the rolling correction that’s running through the stock market, chip makers have been hit harder than most.</p>\n<p>The iShares Semiconductor ETF&nbsp;is down over 6% from recent highs, compared to declines of 2% or less for the S&amp;P 500,Nasdaq&nbsp;Composite&nbsp;and the Dow Jones Industrial Average.</p>\n<p>Does that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.</p>\n<p>A lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”</p>\n<p>Those are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.</p>\n<p>You’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.</p>\n<p><b>1. The wicked witch of cyclicality is dead</b></p>\n<p>“Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “<a href=\"https://laohu8.com/S/FBNC\">First</a> PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.</p>\n<p><a href=\"https://laohu8.com/S/JE\">Just</a> look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like <a href=\"https://laohu8.com/S/ZM\">Zoom</a>, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.</p>\n<p>“There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”</p>\n<p>He’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William&nbsp;Blair&nbsp;analyst Greg Scolaro.</p>\n<p>All of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> chip sector analyst Vivek Arya. “That’s not just our view, but <a href=\"https://laohu8.com/S/AONE.U\">one</a> confirmed by a majority of large customers.”</p>\n<p><b>2. The players have consolidated</b></p>\n<p>All up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.</p>\n<p>In chip design software, you have Cadence Design Systems&nbsp;and Synopsys.In production equipment, companies dominate specialized niches like ASML&nbsp;in extreme ultraviolet lithography&nbsp;(EUV). Manufacturing is dominated by Taiwan Semiconductor&nbsp;and Samsung Electronics.</p>\n<p>These companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.</p>\n<p><b>3. Profitability has improved</b></p>\n<p>This more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.</p>\n<p>This has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere &amp; Co. “They are not trading at a frothy multiple.”</p>\n<p><b>The stocks to buy</b></p>\n<p>Here are six names favored by chip experts I recently checked in with.</p>\n<p><b>New management plays</b></p>\n<p>Though Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm&nbsp;and ON Semiconductor.</p>\n<p>Both have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. <a href=\"https://laohu8.com/S/ON\">ON Semiconductor</a> is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.</p>\n<p><b>A data center and gaming play</b></p>\n<p>Karazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.</p>\n<p><b>Design tool companies</b></p>\n<p>Speaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and <a href=\"https://laohu8.com/S/SNPS\">Synopsys</a>.</p>\n<p>Their software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.</p>\n<p><b>An EUV&nbsp;play</b></p>\n<p>To put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.</p>\n<p>In other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.</p>\n<p><b>Risks</b></p>\n<p>Here are some of the chief risks for chip sector investors to watch.</p>\n<p><b>Oversupply</b></p>\n<p>Chip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. <a href=\"https://laohu8.com/S/CAAS\">China</a> wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.</p>\n<p>The upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.</p>\n<p>Next, big tech companies like Alphabet,Apple&nbsp;and Ammazon.com&nbsp;are all doing their own chip design, which threatens specialized chip companies that do the same thing.</p>\n<p><b><a href=\"https://laohu8.com/S/QTM\">Quantum</a> computing</b></p>\n<p>Computers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”</p>\n<p><b>A disturbing signal</b></p>\n<p>A blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.</p>\n<p>Another cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory&nbsp;(DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.</p>\n<p>But it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.</p>\n<p>Ford,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.</p>\n<p>Paulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including <a href=\"https://laohu8.com/S/F\">Ford</a> cars.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buy the pullback in chip stocks — and focus on these 6 companies for the long haul</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBuy the pullback in chip stocks — and focus on these 6 companies for the long haul\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 22:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correction that’s running through the stock market, chip makers have been hit harder than most.\nThe iShares ...</p>\n\n<a href=\"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QCOM":"高通","ON":"安森美半导体","GOOG":"谷歌","TSM":"台积电","CDNS":"铿腾电子","NVDA":"英伟达","GOOGL":"谷歌A","SNPS":"新思科技","AMZN":"亚马逊","ASML":"阿斯麦","AAPL":"苹果","SSNLF":"三星电子","SOXX":"iShares费城交易所半导体ETF"},"source_url":"https://www.marketwatch.com/story/buy-the-pullback-in-chip-stocks-and-focus-on-these-6-companies-for-the-long-haul-11629468380?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151608193","content_text":"The iShares Semiconductor ETF is down over 6% from recent highs.\nISTOCKPHOTO\nIn the rolling correction that’s running through the stock market, chip makers have been hit harder than most.\nThe iShares Semiconductor ETF is down over 6% from recent highs, compared to declines of 2% or less for the S&P 500,Nasdaq Composite and the Dow Jones Industrial Average.\nDoes that make chip stocks a buy? Or is this historically cyclical sector up to its old tricks and headed into a sustained downtrend that will rip your face off.\nA lot depends on your timeline but if you like to own stocks for years rather than rent them for days, the group is a buy. The chief reason: “It’s different this time.”\nThose are admittedly among the scariest words in investing. But the chip sector has changed so much it really is different now – in ways that suggest it is less likely to crush you.\nYou’d be a fool to think there are no risks. I’ll go over those. But first, here are the three main reasons why the group is “safer” now – and six names favored by the half-dozen sector experts I’ve talked with over the past several days.\n1. The wicked witch of cyclicality is dead\n“Demand in the chip sector was always boom and bust, driven by product cycles,” says David Winborne, a portfolio manager at Impax Asset Management. “First PCs, then servers, then phones.” But now demand for chips has broadened across the economy so the secular growth story is more predictable, he says.\nJust look around you. Because of the increased “digitalization” of our lives and work, there’s greater diversity of end market demand from all angles. Think remote office services like Zoom, online shopping, cloud services, electric vehicles, 5G phones, smart factories, big data computing and even washing machines, points out Hendi Susanto, a portfolio manager and tech analyst at Gabelli Funds who is bullish on the group.\n“There is no aspect of the modern digital economy that can function without semiconductors,” says Motley Fool chip sector analyst John Rotonti. “That means more chips going into everything. The long-term demand is there.”\nHe’s not kidding. Chip sector revenue will double by 2030 to $1 trillion from $465 billion in 2020, predicts William Blair analyst Greg Scolaro.\nAll of this means the widespread supply shortages you’ve been hearing about “likely won’t be cured until sometime late next year,” says Bank of America chip sector analyst Vivek Arya. “That’s not just our view, but one confirmed by a majority of large customers.”\n2. The players have consolidated\nAll up and down the production chain, from design through the various types of equipment producers to manufacturing, industry players have consolidated down into what Rotonti calls “earned” duopolies or monopolies.\nIn chip design software, you have Cadence Design Systems and Synopsys.In production equipment, companies dominate specialized niches like ASML in extreme ultraviolet lithography (EUV). Manufacturing is dominated by Taiwan Semiconductor and Samsung Electronics.\nThese companies earned their niche or duopoly status by being the best at what they do. This makes them interesting for investors. The consolidation also means players behave more rationally in terms of pricing and production capacity, says Rotonti.\n3. Profitability has improved\nThis more rational behavior, combined with cost cutting, means profitability is now much higher than it was historically. “The economics of chip making has improved massively over past few years,” says Winbourne. Cash flow or EBITDA margins are often now over 30% whereas a decade ago they were in the 20% range.\nThis has implications for valuation. Though chip stocks trade at about a market multiple, they appear cheap because they are better companies, points out Lamar Villere, portfolio manager with Villere & Co. “They are not trading at a frothy multiple.”\nThe stocks to buy\nHere are six names favored by chip experts I recently checked in with.\nNew management plays\nThough Peter Karazeris, a senior equity research analyst at Thrivent, has reasons to be cautious on the group (see below), he singles out two companies whose performance may get a boost because they are under new management: Qualcomm and ON Semiconductor.\nBoth have solid profitability. Qualcomm was recently hit by one-off issues like bad weather in Texas that disrupted production, but the company has good exposure to the 5G phone trend. ON Semiconductor is expanding beyond phones into new areas like autos, industrial and the Internet of Things connected-device space.\nA data center and gaming play\nKarazeris also singles out Nvidia,which gets a continuing boost from its exposure to data center and gaming device chip demand — because of its superior design prowess.\nDesign tool companies\nSpeaking of design, when companies like Qualcomm and NVIDIA want to design chips, they turn to the design tools supplied by Cadence Design Systems and Synopsys.\nTheir software-based design tools help chip innovators create the blueprint for their chips, explains Rotonti at Motley Fool, who singles out these names. “They are not the fastest growers in the world, but they have good profit margins.” They also dominate the space.\nAn EUV play\nTo put those blueprints onto silicon in the early stages of chip production, companies like Taiwan Semiconductor and Samsung turn to ASML. Its machines use tiny bursts of light to stencil chip designs onto silicon wafers, in a process called extreme ultraviolet lithography. “No one else has figured out how to do it,” says Rotonti.\nIn other words, it has a monopoly position in supplying machines that do this – which are necessary for any company that wants to make leading edge chips.\nRisks\nHere are some of the chief risks for chip sector investors to watch.\nOversupply\nChip production has become politicized. The U.S. wants more production at home so it is not vulnerable to disruptions in Chinese supply chains. China wants to make 70% of the chips it uses by 2025, up from 5% now, says Winborne.\nThe upshot here is that there’s lots of government support to boost manufacturing – so there will be much more of it. The risk is oversupply at some point in the future. This might also create a pull forward in chip equipment purchases — leading to a lull down the road which could hurt sales and margin trends at equipment makers.\nNext, big tech companies like Alphabet,Apple and Ammazon.com are all doing their own chip design, which threatens specialized chip companies that do the same thing.\nQuantum computing\nComputers using chip designs based on quantum physics instead of traditional semiconductor architectures have superior performance, points out Scolaro at William Blair. “While it probably won’t become mainstream for at least another five years, quantum computing has the potential to transform everything from technology to healthcare.”\nA disturbing signal\nA blend of global purchasing managers (PMI) indexes peaked in April and then decelerated for three months. Meanwhile chip sales growth continued. Normally the two follow the same trend, points out Karazeris, who tracks this indicator at Thrivent. He chalks the divergence up to inventory building which is less sustainable than true end-market demand. So, he takes the divergence as a bearish signal for the chip sector.\nAnother cautionary sign comes from the forecasted weakness in pricing for dynamic random-access memory (DRAM) chips. “These are typically things you see at tops of cycles not the bottoms,” says Karazeris.\nBut it’s also possible the slowdown in the global PMI is more a reflection of chip shortages than a sign that the shortages aren’t real (and are just inventory building). “The divergence doesn’t necessarily mean that chip orders are going to roll over and die. It means chip manufacturing has to catch up,” says Leuthold economist and strategist Jim Paulsen.\nFord,for example, just announced it had to curtail production because of chip shortages, not a shortfall in underlying demand.\nPaulsen predicts decent economic growth is sustainable because of factors like high savings rates, the rebound in employment and incomes as well as pent-up demand for big ticket items. If he’s right, the continued economic strength would support demand for all the products that use chips – including Ford cars.","news_type":1},"isVote":1,"tweetType":1,"viewCount":127,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123944190,"gmtCreate":1624407560910,"gmtModify":1703835642238,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Comment &amp; like&nbsp;pls","listText":"Comment &amp; like&nbsp;pls","text":"Comment & like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/123944190","repostId":"2145664330","repostType":4,"repost":{"id":"2145664330","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1624403123,"share":"https://ttm.financial/m/news/2145664330?lang=&edition=fundamental","pubTime":"2021-06-23 07:05","market":"us","language":"en","title":"Tech leads way to Wall Street rebound as Powell promises steady hand","url":"https://stock-news.laohu8.com/highlight/detail?id=2145664330","media":"Reuters","summary":"WASHINGTON, June 22 (Reuters) - Wall Street rebounded Tuesday as Federal Reserve Chairman Jerome Pow","content":"<p>WASHINGTON, June 22 (Reuters) - Wall Street rebounded Tuesday as Federal Reserve Chairman Jerome Powell vowed not to raise rates too quickly as the dollar and oil gave up earlier gains.</p>\n<p>Led by the tech-heavy Nasdaq Composite , Wall Street closed Tuesday higher, bouncing back from a sell-off set off last week by a Fed policy update that suggested officials believed rates would rise more quickly to counter rising inflation.</p>\n<p>The Nasdaq closed at another record high, as top-shelf tech companies resumed their growth trajectories.</p>\n<p>The Dow Jones Industrial Average rose 68.61 points, or 0.2% and the S&amp;P 500 gained 21.65 points, or 0.51%. to 4,246.44 and the Nasdaq Composite added 111.79 points, or 0.79 percent, to 14,253.27.</p>\n<p>The MSCI world equity index , which tracks shares in 45 nations, rose 4.4 points or 0.62%.</p>\n<p>\"I really think there's a realization that this is a ripe environment: rates are still low and for stock investors, this hits a 'just right' tone,\" said Patrick Leary, chief market strategist at Incapital. \"The market is concerned about rising inflation numbers and was getting more unnerved as the Fed dismissed them until last week’s meeting.\"</p>\n<p>Testifying before Congress, Powell vowed that the Fed will not raise rates out of fear of potential rising inflation, and instead will prioritize a \"broad and inclusive\" recovery of the job market. He said recent price increases do not suggest higher rates are needed, and instead can be attributed to categories directly impacted by economic reopening.</p>\n<p>\"After the FOMC took the wind out of the reflation trade at the end of last week, that’s started to reverse over the last two days. It seems last week’s price action went too far,\" said Stephanie Roth, senior markets economist for J.P. Morgan Private Bank.</p>\n<p>Powell's remarks pushed yields on benchmark 10-year Treasuries lower, dipping to yield 1.4649% after clearing 1.5% earlier in the day.</p>\n<p>The dollar also dipped as Powell spoke, with the dollar index falling 0.20% to 91.733 . It is holding below a two-month high of 92.408 reached on Friday.</p>\n<p>Oil slid slightly after Brent rose above $75 a barrel for the first time in over two years, as OPEC+ discussed raising oil production.</p>\n<p>Brent crude futures settled down 9 cents to $74.81 a barrel after hitting a session high of $75.30 a barrel, the strongest since April 25, 2019.</p>\n<p>U.S. West Texas Intermediate <a href=\"https://laohu8.com/S/WTI\">$(WTI)$</a> crude fell 60 cents, or 0.8%, to $73.06 a barrel.</p>\n<p>Bitcoin began making a comeback of sorts, climbing back above $30,000 after hitting lows not seen since January. The cryptocurrency last traded at $32,831, but has nearly halved in value over the last three months. Bitcoin and other cryptocurrencies came in for heavy selling on Monday, hurt by a tightening crackdown on trading and mining in China.</p>\n<p>Spot gold prices fell $4.8691 or 0.27%, to $1,778.08 an ounce.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tech leads way to Wall Street rebound as Powell promises steady hand</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTech leads way to Wall Street rebound as Powell promises steady hand\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-23 07:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>WASHINGTON, June 22 (Reuters) - Wall Street rebounded Tuesday as Federal Reserve Chairman Jerome Powell vowed not to raise rates too quickly as the dollar and oil gave up earlier gains.</p>\n<p>Led by the tech-heavy Nasdaq Composite , Wall Street closed Tuesday higher, bouncing back from a sell-off set off last week by a Fed policy update that suggested officials believed rates would rise more quickly to counter rising inflation.</p>\n<p>The Nasdaq closed at another record high, as top-shelf tech companies resumed their growth trajectories.</p>\n<p>The Dow Jones Industrial Average rose 68.61 points, or 0.2% and the S&amp;P 500 gained 21.65 points, or 0.51%. to 4,246.44 and the Nasdaq Composite added 111.79 points, or 0.79 percent, to 14,253.27.</p>\n<p>The MSCI world equity index , which tracks shares in 45 nations, rose 4.4 points or 0.62%.</p>\n<p>\"I really think there's a realization that this is a ripe environment: rates are still low and for stock investors, this hits a 'just right' tone,\" said Patrick Leary, chief market strategist at Incapital. \"The market is concerned about rising inflation numbers and was getting more unnerved as the Fed dismissed them until last week’s meeting.\"</p>\n<p>Testifying before Congress, Powell vowed that the Fed will not raise rates out of fear of potential rising inflation, and instead will prioritize a \"broad and inclusive\" recovery of the job market. He said recent price increases do not suggest higher rates are needed, and instead can be attributed to categories directly impacted by economic reopening.</p>\n<p>\"After the FOMC took the wind out of the reflation trade at the end of last week, that’s started to reverse over the last two days. It seems last week’s price action went too far,\" said Stephanie Roth, senior markets economist for J.P. Morgan Private Bank.</p>\n<p>Powell's remarks pushed yields on benchmark 10-year Treasuries lower, dipping to yield 1.4649% after clearing 1.5% earlier in the day.</p>\n<p>The dollar also dipped as Powell spoke, with the dollar index falling 0.20% to 91.733 . It is holding below a two-month high of 92.408 reached on Friday.</p>\n<p>Oil slid slightly after Brent rose above $75 a barrel for the first time in over two years, as OPEC+ discussed raising oil production.</p>\n<p>Brent crude futures settled down 9 cents to $74.81 a barrel after hitting a session high of $75.30 a barrel, the strongest since April 25, 2019.</p>\n<p>U.S. West Texas Intermediate <a href=\"https://laohu8.com/S/WTI\">$(WTI)$</a> crude fell 60 cents, or 0.8%, to $73.06 a barrel.</p>\n<p>Bitcoin began making a comeback of sorts, climbing back above $30,000 after hitting lows not seen since January. The cryptocurrency last traded at $32,831, but has nearly halved in value over the last three months. Bitcoin and other cryptocurrencies came in for heavy selling on Monday, hurt by a tightening crackdown on trading and mining in China.</p>\n<p>Spot gold prices fell $4.8691 or 0.27%, to $1,778.08 an ounce.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"POWL":"Powell Industries",".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145664330","content_text":"WASHINGTON, June 22 (Reuters) - Wall Street rebounded Tuesday as Federal Reserve Chairman Jerome Powell vowed not to raise rates too quickly as the dollar and oil gave up earlier gains.\nLed by the tech-heavy Nasdaq Composite , Wall Street closed Tuesday higher, bouncing back from a sell-off set off last week by a Fed policy update that suggested officials believed rates would rise more quickly to counter rising inflation.\nThe Nasdaq closed at another record high, as top-shelf tech companies resumed their growth trajectories.\nThe Dow Jones Industrial Average rose 68.61 points, or 0.2% and the S&P 500 gained 21.65 points, or 0.51%. to 4,246.44 and the Nasdaq Composite added 111.79 points, or 0.79 percent, to 14,253.27.\nThe MSCI world equity index , which tracks shares in 45 nations, rose 4.4 points or 0.62%.\n\"I really think there's a realization that this is a ripe environment: rates are still low and for stock investors, this hits a 'just right' tone,\" said Patrick Leary, chief market strategist at Incapital. \"The market is concerned about rising inflation numbers and was getting more unnerved as the Fed dismissed them until last week’s meeting.\"\nTestifying before Congress, Powell vowed that the Fed will not raise rates out of fear of potential rising inflation, and instead will prioritize a \"broad and inclusive\" recovery of the job market. He said recent price increases do not suggest higher rates are needed, and instead can be attributed to categories directly impacted by economic reopening.\n\"After the FOMC took the wind out of the reflation trade at the end of last week, that’s started to reverse over the last two days. It seems last week’s price action went too far,\" said Stephanie Roth, senior markets economist for J.P. Morgan Private Bank.\nPowell's remarks pushed yields on benchmark 10-year Treasuries lower, dipping to yield 1.4649% after clearing 1.5% earlier in the day.\nThe dollar also dipped as Powell spoke, with the dollar index falling 0.20% to 91.733 . It is holding below a two-month high of 92.408 reached on Friday.\nOil slid slightly after Brent rose above $75 a barrel for the first time in over two years, as OPEC+ discussed raising oil production.\nBrent crude futures settled down 9 cents to $74.81 a barrel after hitting a session high of $75.30 a barrel, the strongest since April 25, 2019.\nU.S. West Texas Intermediate $(WTI)$ crude fell 60 cents, or 0.8%, to $73.06 a barrel.\nBitcoin began making a comeback of sorts, climbing back above $30,000 after hitting lows not seen since January. The cryptocurrency last traded at $32,831, but has nearly halved in value over the last three months. Bitcoin and other cryptocurrencies came in for heavy selling on Monday, hurt by a tightening crackdown on trading and mining in China.\nSpot gold prices fell $4.8691 or 0.27%, to $1,778.08 an ounce.","news_type":1},"isVote":1,"tweetType":1,"viewCount":143,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9983848125,"gmtCreate":1666222732468,"gmtModify":1676537723738,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9983848125","repostId":"2276745435","repostType":4,"repost":{"id":"2276745435","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1666219547,"share":"https://ttm.financial/m/news/2276745435?lang=&edition=fundamental","pubTime":"2022-10-20 06:45","market":"us","language":"en","title":"Tesla Sees 2022 Delivery Miss, Q3 Revenue Comes in Below Forecast","url":"https://stock-news.laohu8.com/highlight/detail?id=2276745435","media":"Reuters","summary":"(Reuters) -$Tesla Inc (TSLA)$ Chief Executive Elon Musk on Wednesday said he expected the company would miss its vehicle delivery targets this year, but downplayed concerns about softening demand afte","content":"<html><head></head><body><p>(Reuters) -<a href=\"https://laohu8.com/S/TSLA\">Tesla Inc </a> Chief Executive Elon Musk on Wednesday said he expected the company would miss its vehicle delivery targets this year, but downplayed concerns about softening demand after the company&#39;s revenue missed Wall Street estimates.</p><p>The billionaire told analysts on a conference call there was excellent demand for the fourth quarter, addressing investor concern that buyers could be discouraged by the weak global economy and high prices for Tesla vehicles.</p><p>But he said some logistics challenges would persist, with fourth-quarter deliveries tracking under 50% growth while production hit 50% growth.</p><p>&#34;I wouldn&#39;t say we&#39;re recession proof, but it&#39;s certainly recession resilient,&#34; he said.</p><p>Shares fell 6.28% in after-market trading.</p><p><img src=\"https://static.tigerbbs.com/158a86665b6e0842ed94e776cf18cd84\" tg-width=\"860\" tg-height=\"667\" referrerpolicy=\"no-referrer\"/></p><p>Tesla is expanding fast despite global economic jitters, and investors are closely watching for signs that the cooling economy would hurt demand.</p><p><b>The company&#39;s third-quarter automotive gross margin was 27.9%, missing analysts&#39; estimates and down from 30.5% a year earlier.</b></p><p><b>Tesla&#39;s revenue for the third quarter was $21.45 billion, a record but short of analysts&#39; estimates of $21.96 billion</b>, according to IBES data from Refinitiv.</p><p>The company said it had a negative foreign exchange impact of $250 million on its earnings as the U.S. dollar strengthened against major currencies.</p><p>&#34;Raw material cost inflation impacted our profitability along with ramp inefficiencies&#34; from its new factories in Berlin and Texas, and the production of its new 4680 batteries, according to Tesla&#39;s statement. Musk added that production of the 4680 battery was gaining rapid traction, although executive Andrew Baglino said, &#34;There are challenges still ahead that we have not yet surpassed. No doubt.&#34;</p><p>Musk also said the company has the ability to do a stock buyback in the range of $5 billion to $10 billion, pending board review and approval.</p><h3>PATH TO PASS APPLE MARKET SHARE</h3><p>Early this month, Tesla said it delivered 35% more vehicles in the July-September period than in the previous quarter, but the record number was shy of vehicle production and analysts&#39; estimates.</p><p>The electric vehicle pioneer has seen its shares tumble about 50% from record highs last November as investors were spooked by a cooling global economy and Musk&#39;s bid to buy social media company <a href=\"https://laohu8.com/S/TWTR\">Twitter</a>.</p><p>Musk told the conference call he saw a path for Tesla to be worth more than two mammoth companies, Apple Inc (AAPL.O) and Saudi Aramco (2222.SE), combined. Tesla&#39;s market cap is now under $700 billion, while Apple is worth $2.3 trillion and oil producer Saudi Aramco is worth $2.1 trillion.</p><p>Analysts had expected Musk to voice optimism about Tesla in the conference call. Musk has been trying to raise cash to fund his $44 billion deal to take Twitter Inc private. Some experts say Musk may need to sell about $3 billion more in stock after the earnings announcement to help fund the deal.</p><p>Musk on Wednesday said he was excited about his pending acquisition of Twitter Inc (TWTR.N), although he and other investors were overpaying for the social media company.</p><p>Musk also said Tesla&#39;s Cybertruck pick-up truck was on track to enter production in the middle of next year and its heavy duty semi truck, which will begin deliveries later this year, could see 50,000 units in North America in 2024.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Sees 2022 Delivery Miss, Q3 Revenue Comes in Below Forecast</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Sees 2022 Delivery Miss, Q3 Revenue Comes in Below Forecast\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-10-20 06:45</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>(Reuters) -<a href=\"https://laohu8.com/S/TSLA\">Tesla Inc </a> Chief Executive Elon Musk on Wednesday said he expected the company would miss its vehicle delivery targets this year, but downplayed concerns about softening demand after the company&#39;s revenue missed Wall Street estimates.</p><p>The billionaire told analysts on a conference call there was excellent demand for the fourth quarter, addressing investor concern that buyers could be discouraged by the weak global economy and high prices for Tesla vehicles.</p><p>But he said some logistics challenges would persist, with fourth-quarter deliveries tracking under 50% growth while production hit 50% growth.</p><p>&#34;I wouldn&#39;t say we&#39;re recession proof, but it&#39;s certainly recession resilient,&#34; he said.</p><p>Shares fell 6.28% in after-market trading.</p><p><img src=\"https://static.tigerbbs.com/158a86665b6e0842ed94e776cf18cd84\" tg-width=\"860\" tg-height=\"667\" referrerpolicy=\"no-referrer\"/></p><p>Tesla is expanding fast despite global economic jitters, and investors are closely watching for signs that the cooling economy would hurt demand.</p><p><b>The company&#39;s third-quarter automotive gross margin was 27.9%, missing analysts&#39; estimates and down from 30.5% a year earlier.</b></p><p><b>Tesla&#39;s revenue for the third quarter was $21.45 billion, a record but short of analysts&#39; estimates of $21.96 billion</b>, according to IBES data from Refinitiv.</p><p>The company said it had a negative foreign exchange impact of $250 million on its earnings as the U.S. dollar strengthened against major currencies.</p><p>&#34;Raw material cost inflation impacted our profitability along with ramp inefficiencies&#34; from its new factories in Berlin and Texas, and the production of its new 4680 batteries, according to Tesla&#39;s statement. Musk added that production of the 4680 battery was gaining rapid traction, although executive Andrew Baglino said, &#34;There are challenges still ahead that we have not yet surpassed. No doubt.&#34;</p><p>Musk also said the company has the ability to do a stock buyback in the range of $5 billion to $10 billion, pending board review and approval.</p><h3>PATH TO PASS APPLE MARKET SHARE</h3><p>Early this month, Tesla said it delivered 35% more vehicles in the July-September period than in the previous quarter, but the record number was shy of vehicle production and analysts&#39; estimates.</p><p>The electric vehicle pioneer has seen its shares tumble about 50% from record highs last November as investors were spooked by a cooling global economy and Musk&#39;s bid to buy social media company <a href=\"https://laohu8.com/S/TWTR\">Twitter</a>.</p><p>Musk told the conference call he saw a path for Tesla to be worth more than two mammoth companies, Apple Inc (AAPL.O) and Saudi Aramco (2222.SE), combined. Tesla&#39;s market cap is now under $700 billion, while Apple is worth $2.3 trillion and oil producer Saudi Aramco is worth $2.1 trillion.</p><p>Analysts had expected Musk to voice optimism about Tesla in the conference call. Musk has been trying to raise cash to fund his $44 billion deal to take Twitter Inc private. Some experts say Musk may need to sell about $3 billion more in stock after the earnings announcement to help fund the deal.</p><p>Musk on Wednesday said he was excited about his pending acquisition of Twitter Inc (TWTR.N), although he and other investors were overpaying for the social media company.</p><p>Musk also said Tesla&#39;s Cybertruck pick-up truck was on track to enter production in the middle of next year and its heavy duty semi truck, which will begin deliveries later this year, could see 50,000 units in North America in 2024.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2276745435","content_text":"(Reuters) -Tesla Inc  Chief Executive Elon Musk on Wednesday said he expected the company would miss its vehicle delivery targets this year, but downplayed concerns about softening demand after the company's revenue missed Wall Street estimates.The billionaire told analysts on a conference call there was excellent demand for the fourth quarter, addressing investor concern that buyers could be discouraged by the weak global economy and high prices for Tesla vehicles.But he said some logistics challenges would persist, with fourth-quarter deliveries tracking under 50% growth while production hit 50% growth.\"I wouldn't say we're recession proof, but it's certainly recession resilient,\" he said.Shares fell 6.28% in after-market trading.Tesla is expanding fast despite global economic jitters, and investors are closely watching for signs that the cooling economy would hurt demand.The company's third-quarter automotive gross margin was 27.9%, missing analysts' estimates and down from 30.5% a year earlier.Tesla's revenue for the third quarter was $21.45 billion, a record but short of analysts' estimates of $21.96 billion, according to IBES data from Refinitiv.The company said it had a negative foreign exchange impact of $250 million on its earnings as the U.S. dollar strengthened against major currencies.\"Raw material cost inflation impacted our profitability along with ramp inefficiencies\" from its new factories in Berlin and Texas, and the production of its new 4680 batteries, according to Tesla's statement. Musk added that production of the 4680 battery was gaining rapid traction, although executive Andrew Baglino said, \"There are challenges still ahead that we have not yet surpassed. No doubt.\"Musk also said the company has the ability to do a stock buyback in the range of $5 billion to $10 billion, pending board review and approval.PATH TO PASS APPLE MARKET SHAREEarly this month, Tesla said it delivered 35% more vehicles in the July-September period than in the previous quarter, but the record number was shy of vehicle production and analysts' estimates.The electric vehicle pioneer has seen its shares tumble about 50% from record highs last November as investors were spooked by a cooling global economy and Musk's bid to buy social media company Twitter.Musk told the conference call he saw a path for Tesla to be worth more than two mammoth companies, Apple Inc (AAPL.O) and Saudi Aramco (2222.SE), combined. Tesla's market cap is now under $700 billion, while Apple is worth $2.3 trillion and oil producer Saudi Aramco is worth $2.1 trillion.Analysts had expected Musk to voice optimism about Tesla in the conference call. Musk has been trying to raise cash to fund his $44 billion deal to take Twitter Inc private. Some experts say Musk may need to sell about $3 billion more in stock after the earnings announcement to help fund the deal.Musk on Wednesday said he was excited about his pending acquisition of Twitter Inc (TWTR.N), although he and other investors were overpaying for the social media company.Musk also said Tesla's Cybertruck pick-up truck was on track to enter production in the middle of next year and its heavy duty semi truck, which will begin deliveries later this year, could see 50,000 units in North America in 2024.","news_type":1},"isVote":1,"tweetType":1,"viewCount":148,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9934616637,"gmtCreate":1663238416629,"gmtModify":1676537234063,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/02269\">$WUXI BIO(02269)$</a>Ok","listText":"<a href=\"https://ttm.financial/S/02269\">$WUXI BIO(02269)$</a>Ok","text":"$WUXI BIO(02269)$Ok","images":[{"img":"https://community-static.tradeup.com/news/dd87452d8bfcbc25e8ef60de83e71d19","width":"1242","height":"1968"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9934616637","isVote":1,"tweetType":1,"viewCount":205,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9907290868,"gmtCreate":1660191320657,"gmtModify":1703478958574,"author":{"id":"3568071651427696","authorId":"3568071651427696","name":"Pigmonkey","avatar":"https://static.tigerbbs.com/3402225c0172781df7553e20722ebad7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568071651427696","authorIdStr":"3568071651427696"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9907290868","repostId":"2258224852","repostType":4,"repost":{"id":"2258224852","pubTimestamp":1660190080,"share":"https://ttm.financial/m/news/2258224852?lang=&edition=fundamental","pubTime":"2022-08-11 11:54","market":"us","language":"en","title":"Why Wednesday’s Jump in Tesla Shares Surprised Investors","url":"https://stock-news.laohu8.com/highlight/detail?id=2258224852","media":"Motley Fool","summary":"Musk may be selling shares, but investors aren't reading too much into it.","content":"<html><head></head><body><p><b>KEY POINTS</b></p><ul><li>The Tesla CEO explained that he sold shares for what seems like a prudent reason.</li><li>Tesla has upgraded its critical Shanghai plant to be able to produce more than 1 million vehicles per year.</li></ul><p><b>What happened</b></p><p>Many investors would have expected <b>Tesla</b> shares to be sinking on Wednesday. But the opposite is happening. After an early jump of 5%, Tesla stock was still 3.9% higher as of closing.</p><p><b>So what</b></p><p>That move was a bit surprising after it was revealed yesterday that CEO Elon Musk sold almost $7 billion worth of his Tesla shares between Aug. 5 and Aug. 9. Musk&#39;s sales came at prices from about $838.5 to $912 per share.</p><p><b>Now what</b></p><p>While the share sales themselves in no way affect the shareholder value in Tesla, Musk is a widely followed CEO, and his actions -- and words -- have moved the stock in the past. Musk later addressed his followers on <b>Twitter</b> to say the sales were in preparation for the potential purchase of the social media company. He is in a lawsuit with the company trying to back out of the agreement he previously made for the acquisition.</p><p>But his sale of Tesla stock actually seems prudent in that context. If Musk loses the court case and is forced to acquire Twitter, he may need to come up with liquid capital. By selling some Tesla shares now, he avoids the potential for what he called &#34;an emergency sale of Tesla stock.&#34;</p><p>That likely helped boost investor sentiment with Tesla today. There was other news yesterday that was taken as a positive development. Reuters reported that Tesla sold a little more than 28,000 vehicles from its Shanghai plant in July. While that was a huge drop from the record 78,906 vehicles delivered in June, it wasn&#39;t unexpected.</p><p>July production was heavily impacted by shutdowns related to upgrades that are intended to boost capacity at the critical plant by nearly 30%. The factory should now be able to produce more than 1 million vehicles annually. That&#39;s more important news for Tesla investors who want to see it grow production by at least 50% per year for several more years. And it explains why the stock popped today, despite the news of Musk&#39;s share sales.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Wednesday’s Jump in Tesla Shares Surprised Investors</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Wednesday’s Jump in Tesla Shares Surprised Investors\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-11 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/08/10/why-todays-jump-in-tesla-shares-surprised-investor/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTSThe Tesla CEO explained that he sold shares for what seems like a prudent reason.Tesla has upgraded its critical Shanghai plant to be able to produce more than 1 million vehicles per year....</p>\n\n<a href=\"https://www.fool.com/investing/2022/08/10/why-todays-jump-in-tesla-shares-surprised-investor/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.fool.com/investing/2022/08/10/why-todays-jump-in-tesla-shares-surprised-investor/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2258224852","content_text":"KEY POINTSThe Tesla CEO explained that he sold shares for what seems like a prudent reason.Tesla has upgraded its critical Shanghai plant to be able to produce more than 1 million vehicles per year.What happenedMany investors would have expected Tesla shares to be sinking on Wednesday. But the opposite is happening. After an early jump of 5%, Tesla stock was still 3.9% higher as of closing.So whatThat move was a bit surprising after it was revealed yesterday that CEO Elon Musk sold almost $7 billion worth of his Tesla shares between Aug. 5 and Aug. 9. Musk's sales came at prices from about $838.5 to $912 per share.Now whatWhile the share sales themselves in no way affect the shareholder value in Tesla, Musk is a widely followed CEO, and his actions -- and words -- have moved the stock in the past. Musk later addressed his followers on Twitter to say the sales were in preparation for the potential purchase of the social media company. He is in a lawsuit with the company trying to back out of the agreement he previously made for the acquisition.But his sale of Tesla stock actually seems prudent in that context. If Musk loses the court case and is forced to acquire Twitter, he may need to come up with liquid capital. By selling some Tesla shares now, he avoids the potential for what he called \"an emergency sale of Tesla stock.\"That likely helped boost investor sentiment with Tesla today. There was other news yesterday that was taken as a positive development. Reuters reported that Tesla sold a little more than 28,000 vehicles from its Shanghai plant in July. While that was a huge drop from the record 78,906 vehicles delivered in June, it wasn't unexpected.July production was heavily impacted by shutdowns related to upgrades that are intended to boost capacity at the critical plant by nearly 30%. The factory should now be able to produce more than 1 million vehicles annually. That's more important news for Tesla investors who want to see it grow production by at least 50% per year for several more years. And it explains why the stock popped today, despite the news of Musk's share sales.","news_type":1},"isVote":1,"tweetType":1,"viewCount":129,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}