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2021-04-03

Good stuff

Tesla Q1 2021 Vehicle Production & Deliveries

2021-04-01

Awesome

Coursera opens for trading at $40, up 21.21% from IPO price

2021-03-30

Madness

Billions in Secret Derivatives at Center of Archegos Blowup

2021-03-30

Madness

Singapore Hin Leong founder O.K. Lim faces another 23 forgery-related charges - prosecutor

2021-03-29

Red incoming

Wall Street set to slip as bank stocks fall on hedge fund default concerns

2021-03-12

Nice

Don’t be fooled by the ‘value’ tag on these tech stocks. Many can provide plenty of growth too

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We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.Forward-Looking Statements Statements herein regarding the timin","content":"<p>PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.</p>\n<table>\n <tbody>\n  <tr>\n   <td></td>\n   <td><b>Production</b></td>\n   <td><b>Deliveries</b></td>\n   <td><b>Subject to operating lease accounting</b></td>\n  </tr>\n  <tr>\n   <td>Model S/X</td>\n   <td>-</td>\n   <td>2,020</td>\n   <td>6%</td>\n  </tr>\n  <tr>\n   <td>Model 3/Y</td>\n   <td>180,338</td>\n   <td>182,780</td>\n   <td>7%</td>\n  </tr>\n  <tr>\n   <td><b>Total</b></td>\n   <td><b>180,338</b></td>\n   <td><b>184,800</b></td>\n   <td><b>7%</b></td>\n  </tr>\n </tbody>\n</table>\n<p>***************</p>\n<p>Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only <a href=\"https://laohu8.com/S/AONE\">one</a> measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.</p>\n<p><b>Forward-Looking Statements</b>&nbsp;Statements herein regarding the timing and future progress of our vehicle production ramp are “forward-looking statements” based on management’s current expectations and that are subject to risks and uncertainties. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.</p>\n<p><img src=\"https://static.tigerbbs.com/db04c7b378cb2db912c3ba8a5a774ee3\" tg-width=\"1\" tg-height=\"1\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/c2196de8ba412c60c22ab491af7b1409\" tg-width=\"1\" tg-height=\"1\" referrerpolicy=\"no-referrer\"></p>","source":"highlight_streetinsider","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 Q1 2021 Vehicle Production & Deliveries</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 Q1 2021 Vehicle Production & Deliveries\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 20:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=18215929><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=18215929\">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.streetinsider.com/dr/news.php?id=18215929","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2124875875","content_text":"PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.\n\n\n\n\nProduction\nDeliveries\nSubject to operating lease accounting\n\n\nModel S/X\n-\n2,020\n6%\n\n\nModel 3/Y\n180,338\n182,780\n7%\n\n\nTotal\n180,338\n184,800\n7%\n\n\n\n***************\nOur net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.\nForward-Looking Statements Statements herein regarding the timing and future progress of our vehicle production ramp are “forward-looking statements” based on management’s current expectations and that are subject to risks and uncertainties. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.","news_type":1},"isVote":1,"tweetType":1,"viewCount":254,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":357310655,"gmtCreate":1617237525877,"gmtModify":1704697607780,"author":{"id":"3568079581270090","authorId":"3568079581270090","name":"rippz","avatar":"https://static.tigerbbs.com/5de4d3155c456d7b67b3d746b35aeccc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568079581270090","authorIdStr":"3568079581270090"},"themes":[],"htmlText":"Awesome","listText":"Awesome","text":"Awesome","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/357310655","repostId":"1127322570","repostType":4,"repost":{"id":"1127322570","pubTimestamp":1617207242,"share":"https://ttm.financial/m/news/1127322570?lang=&edition=fundamental","pubTime":"2021-04-01 00:14","market":"us","language":"en","title":"Coursera opens for trading at $40, up 21.21% from IPO price","url":"https://stock-news.laohu8.com/highlight/detail?id=1127322570","media":"seekingalpha","summary":"(March 31) Coursera opens for trading at $40, up 21.21% from IPO price. Coursera prices IPO at $33, ","content":"<p>(March 31)&nbsp;Coursera opens for trading at $40, up 21.21% from IPO price. Coursera prices IPO at $33, for valuation of $4.3 billion.</p><p><img src=\"https://static.tigerbbs.com/02b9c1d8ca315aee021355dfdcf3bbf9\" tg-width=\"662\" tg-height=\"418\" referrerpolicy=\"no-referrer\"></p><p>Coursera has&nbsp;priced&nbsp;an IPO of 15.73M shares of its common stock at $33.00/share, including ~14.7M shares to beissued and sold by Coursera and ~1.1M by the selling stockholders.</p><ul><li>Expected gross proceeds are $483.9M.</li><li>Trading kicks off March 31.</li><li>Underwriters' over-allotment is an additional ~2.4M shares.</li><li>Coursera will not receive any proceeds from shares sale by selling stockholders.</li><li>Morgan Stanley and Goldman Sachs are acting as lead book-running managers.</li><li>Closing date is April 5.</li><li>Online learning giant Coursera has 77M registered learners. It partners with over 200 universities and industry partners to offer a broad catalog of content and credentials.</li><li>SuRo Capital, a business development company, holds a massive stake in the company.</li><li>In 2020, Coursera generated $293.5M in revenue, up from $184.4M in&nbsp;2019.&nbsp;</li></ul><p><img src=\"https://static.tigerbbs.com/f4ff108b0210b167aea229922aa82021\" tg-width=\"769\" tg-height=\"431\" referrerpolicy=\"no-referrer\"></p><p>Launched in 2012 by Stanford University computer science professors Daphne Koller and Andrew Ng, Coursera is one of many massive open online course (MOOC) providers that have emerged since the dawn of the Internet. What sets Coursera apart is its symbiotic relationship with established universities. Instead of trying to disrupt the higher education industry, Coursera is attempting to work with them to reimagine what higher education and professional courses should look like in a digital world.</p><p>That strategy seems to be working. Coursera has more than77 million students, more than most of its rivals. The company’sCoursera for Campusattracted 4,000 tertiary institutions from across the world. At the end of 2020, 130 of these institutions were premium subscribers. 2,000 businesses (including 25% of Fortune 500 companies) and 100 government agencies are alsopaying for Coursera’s enterprise offerings.</p><p>Unsurprisingly, that traction is reflected on the top line. In 2020, Coursera generated $293 million in revenue, up 59% from the previous year. Year-on-year user growth came in at 65%. However, the company extended free courses and features throughout the pandemic to gin up traffic. That led to higher costs and a loss of $66.8 million in 2020, up from $46.7 million in 2019. Free cash flow was -$26.9 million over the course of the year.</p><p>Coursera doesn’t expect to become cash flow positive or profitable anytime soon. In fact, theS-1 clearly statesthat the company “had an accumulated deficit of $343.6 million as of December 31, 2020,” and that they anticipate that the company “will continue to incur losses for the foreseeable future.”</p><p>The reopening is another risk. With students heading back to the campus this fall, it’s difficult to say if Coursera can sustain last year’s momentum and keep students and universities engaged on its platform.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2765e424ebb38bf8c4fdf74bcb5d0086\" tg-width=\"605\" tg-height=\"270\" referrerpolicy=\"no-referrer\"><span>Coursera product tiers</span></p><p>Nevertheless, the company’s partnerships with government agencies, library of content from top universities, enterprise training products and micro-certification courses could help it bolster growth over time. Online learning already was a rapidly-growing market pre-pandemic. Some estimates suggest the marketcould be worth $350 billionby 2025. Coursera was last valued at $2.5 billion.</p><p>It could be worth a lot more when the IPO is completed. One early investor is certainly expecting a windfall: SuRo Capital(NASDAQ:SSSS).</p><p><b>Operating Results</b></p><p>The company earned $293 million in revenues for the fiscal year ended December 31, 2020, up 59% from 2019. Net losses widened by about $20 million year-on-year, reaching $66.8 million in 2020. Revenues shot up as a result of the Covid-19 pandemic’s effect on traditional education. In tandem with rising demand, operating costs associated with the company’s services rose, largely driven by the freemium content and marketing expenses. Coursera added over 12,000 new degree learners across the two years ended December 31, 2020 at an average acquisition cost of just below $2,000. The number of registered users rose by 65% year-on-year in 2020. Coursera’s accumulated deficit since its founding stood at $343.6 million as of December 31, 2020. The company does not expect to turn a profit in the foreseeable future.</p><p>The company’sCoursera for Campus,launched in late 2019to enable colleges to offer its library of MOOCs to their students, has been a key driver of recent revenue growth. At the start of the pandemic, Coursera made the program free to tertiary institutions until Sept. 30, 2020. Over 4,000 tertiary institutions from across the world signed up for the program, which, according to the company’s S-1 filing, makes it, “one of our fastest growing offerings”. As of December 31, 2020, over 130 tertiary institutions were paying for it.</p><p>At this point, it is hard to predict what the end of the pandemic would have on the company’s operating results.</p><p><b>SuRo Capital - Coursera’s Proxy</b></p><p>San Francisco-based SuRo Capital is a business development company focused on tech startups and innovative private companies. SuRo’s portfolio is heavily concentrated in preferred shares of noteworthy tech startups such asCourseHero,Rent the Runway,Nextdoor,Blink HealthandForge Global.</p><p>The largest and most noteworthy position in their portfolio is a $94 million stake in Palantir Technologies(NYSE:PLTR). In fact, my first article on the company was publishedjust before Palantir’s IPO. Over the past 12 months, the stock is up 281%, which means it outperformed the most talked about tech ETF of the year - Ark Innovation ETF(NYSEARCA:ARKK).</p><p><img src=\"https://static.tigerbbs.com/803c42a2fe2b33ae60db98bb236a638e\" tg-width=\"1280\" tg-height=\"852\" referrerpolicy=\"no-referrer\"></p><p>Now, Palantir accounts for 31.4% of SuRo’s portfolio. Coursera is the second-largest holding. Accounting for 17.6% of the portfolio, SuRo reported the fair value of its stake at $53.2 million recently. It’s worth noting that SuRo holds this stake in preferred shares paying out 8% a year in dividends. These preferred shares should be worth a lot more when the company lists publicly. Analysts estimate Coursera could be worth as much as$5 billion, which is roughly double its valuation from 2020.</p><p>At that price, Coursera would become SuRo’s largest holding, adding roughly $50 million to the company’s book value.</p><p>Altogether,SuRo’s portfolio is worth $430 million. Meanwhile, the company’s market capitalization is $274 million. If the Coursera IPO is as successful as some of the other major tech IPOs we’ve witnessed this year, this discount to fair value could broaden further.</p><p><b>The Strategy and Market Opportunity</b></p><p>Coursera is one of the most disruptive firms in the world. It has a flywheel approach to value creation, with significant price-to-cost advantages versus its competition. The company reported that about half of its new degree students in 2020 had been previously registered with Coursera and that its average student acquisition cost was less than $2,000. Its average student acquisition cost is lower than the industry standard. The edu-tech platform is able to efficiently acquire learners at scale because of the huge number of free, high-quality courses that it offers in partnership with top educational institutions and corporations; its ability to personalize content based on its wealth of data; the strength of word-of-mouth promotion by learners; the profitability of its affiliate paid marketing channel.</p><p>The platform offers a number of education tracks, for example:</p><ul><li>Specializations: A learner can pay between $39 and $99 a month for job-specific content across over 500 categories.</li><li>MasterTrack Certificates: For a quarter to a year, a learner can earn a certificate issued by a university-issued certificate. Prices range from $2,000 to $6,000.</li><li>Bachelor’s or Master’s Degrees: Fees range from $9,000 to $45,000.</li><li>Coursera for Enterprise: Through this platform, businesses, educational institutions and governments can deploy content to their learners.</li></ul><p>In response to the Covid-19 pandemic, Coursera partnered with over 330 government agencies across 30 U.S. states and cities and 70 countries as part of itsCoursera Workforce Recovery Initiative, which gave governments the chance to offer unemployed workers free access to thousands of business, data science, and technology courses from companies such as Amazon(NASDAQ:AMZN)and Google(NASDAQ:GOOG)(NASDAQ:GOOGL).</p><p>The company has 77 million registered learners, as well as over 2,000 businesses (including 25% of Fortune 500 companies) and 100 government agencies who paid for its enterprise offerings. The majority of its revenue (51%) was earned outside of the United States. Converting only a fraction of its 77 million registered users into paid users would change the economics of customer acquisition. The company’s present scale is a huge competitive advantage in the market.</p><p>A learner’s curriculum is designed to be “stackable”, which is to say that a learner can go through a domain in an incremental fashion. The company is able to leverage the huge volume of data it has accumulated from its over 220 million enrollments to personalize content. So, for example, Coursera’s Skills Graphs can suggest paths for job skills.</p><p>Coursera uses technology to drive down distribution costs, make content more affordable, extend access to less economically-endowed regions, help learners keep abreast of emerging skills, and grow its market opportunity. The Covid-19 pandemic has only accelerated secular trends towards the use of technology in education.</p><p>The size of the addressable market is massive and it’s easy to see why.An August 2020 study by the United Nationsdemonstrates the degree of disruption brought on by the Covid-19 pandemic: of the 1.6 billion students in 190 countries covered in the report, or 94% of the world’s students, were prevented from going to school because of Covid-19 pandemic related school closures.</p><p>In 2017, the World Bank indicated thatof the 200 million college students in the world, many do not have job-specific skills.</p><p>The Covid-19 pandemic and prior secular trends suggest that the future of education is in blended classrooms, job-specific education and continuous, lifelong education. Online learning platforms like Coursera will be the primary means through which educational content is delivered.</p><p>Globally, spending on higher education in 2019 was $2.2 trillion,according to HolonIQ. Spending on online degrees was $36 billion and is predicted to reach $74 billion by 2025.</p><p>With a huge, existing learner base; a strong brand; and the significant advantages detailed above, Coursera is likely to grab a significant amount of the market’s growth. Of thescenarios for the future of education, it seems that Coursera will continue to grow.</p><p>Risks</p><p>Coursera's S-1 lists several potential risks that investors should be aware of. However, I believe some are more noteworthy than others and Coursera may have missed some key risks.</p><p>Competition, for one, is something the team could have elaborated on further. Coursera is far from the only online education provider. In fact, many of its rivals including Skillshare, Gumroad, Khan Academy and Udemy have more recognizable brands.</p><p>Khan Academy is particularly noteworthy because many of the courses it offers are free. That, in my opinion, is another key risk for Coursera and perhaps the entire EdTech space. While higher education is a luxury service in North America, it's free in places like Germany. Much of the world would prefer a low-cost or free model to develop talent and plug the skills gap. College in India, for instance, costs$5,000 a year on average. Coursera isn't profitable at its current average pricing of $9,000 to $25,000 per degree course. Lower costs in the rest of the world could make profitability a bigger challenge.</p><p>Coursera could potentially overcome these challenges by recruiting lower-cost education providers in emerging markets, convincing students to pay a premium and differentiating its courses by partnering with elite universities and recruitment channels.</p><p><b>Conclusion</b></p><p>Coursera seems poised to meet the challenges of a changing education landscape. With its vast, existing user base, its flywheel model, its competitive advantages, and its existence in a huge and growing addressable market, the company is likely to do very well. The company’s value proposition is compelling. However, long run success does not equate to a good investment in the short run. An unprofitable company like Coursera is likely to be very volatile on the markets until it reaches profitability. It is better to wait for Coursera to turn a profit before investing in the company.</p>","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>Coursera opens for trading at $40, up 21.21% from IPO price</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\">\nCoursera opens for trading at $40, up 21.21% from IPO price\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-01 00:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3677898-online-learning-platform-coursera-seeks-to-raise-484m-in-ipo><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(March 31) Coursera opens for trading at $40, up 21.21% from IPO price. Coursera prices IPO at $33, for valuation of $4.3 billion.Coursera has priced an IPO of 15.73M shares of its common stock at $...</p>\n\n<a href=\"https://seekingalpha.com/news/3677898-online-learning-platform-coursera-seeks-to-raise-484m-in-ipo\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5220d573a8af31c0f611dafd93d5f72a","relate_stocks":{"COUR":"Coursera, Inc."},"source_url":"https://seekingalpha.com/news/3677898-online-learning-platform-coursera-seeks-to-raise-484m-in-ipo","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1127322570","content_text":"(March 31) Coursera opens for trading at $40, up 21.21% from IPO price. Coursera prices IPO at $33, for valuation of $4.3 billion.Coursera has priced an IPO of 15.73M shares of its common stock at $33.00/share, including ~14.7M shares to beissued and sold by Coursera and ~1.1M by the selling stockholders.Expected gross proceeds are $483.9M.Trading kicks off March 31.Underwriters' over-allotment is an additional ~2.4M shares.Coursera will not receive any proceeds from shares sale by selling stockholders.Morgan Stanley and Goldman Sachs are acting as lead book-running managers.Closing date is April 5.Online learning giant Coursera has 77M registered learners. It partners with over 200 universities and industry partners to offer a broad catalog of content and credentials.SuRo Capital, a business development company, holds a massive stake in the company.In 2020, Coursera generated $293.5M in revenue, up from $184.4M in 2019. Launched in 2012 by Stanford University computer science professors Daphne Koller and Andrew Ng, Coursera is one of many massive open online course (MOOC) providers that have emerged since the dawn of the Internet. What sets Coursera apart is its symbiotic relationship with established universities. Instead of trying to disrupt the higher education industry, Coursera is attempting to work with them to reimagine what higher education and professional courses should look like in a digital world.That strategy seems to be working. Coursera has more than77 million students, more than most of its rivals. The company’sCoursera for Campusattracted 4,000 tertiary institutions from across the world. At the end of 2020, 130 of these institutions were premium subscribers. 2,000 businesses (including 25% of Fortune 500 companies) and 100 government agencies are alsopaying for Coursera’s enterprise offerings.Unsurprisingly, that traction is reflected on the top line. In 2020, Coursera generated $293 million in revenue, up 59% from the previous year. Year-on-year user growth came in at 65%. However, the company extended free courses and features throughout the pandemic to gin up traffic. That led to higher costs and a loss of $66.8 million in 2020, up from $46.7 million in 2019. Free cash flow was -$26.9 million over the course of the year.Coursera doesn’t expect to become cash flow positive or profitable anytime soon. In fact, theS-1 clearly statesthat the company “had an accumulated deficit of $343.6 million as of December 31, 2020,” and that they anticipate that the company “will continue to incur losses for the foreseeable future.”The reopening is another risk. With students heading back to the campus this fall, it’s difficult to say if Coursera can sustain last year’s momentum and keep students and universities engaged on its platform.Coursera product tiersNevertheless, the company’s partnerships with government agencies, library of content from top universities, enterprise training products and micro-certification courses could help it bolster growth over time. Online learning already was a rapidly-growing market pre-pandemic. Some estimates suggest the marketcould be worth $350 billionby 2025. Coursera was last valued at $2.5 billion.It could be worth a lot more when the IPO is completed. One early investor is certainly expecting a windfall: SuRo Capital(NASDAQ:SSSS).Operating ResultsThe company earned $293 million in revenues for the fiscal year ended December 31, 2020, up 59% from 2019. Net losses widened by about $20 million year-on-year, reaching $66.8 million in 2020. Revenues shot up as a result of the Covid-19 pandemic’s effect on traditional education. In tandem with rising demand, operating costs associated with the company’s services rose, largely driven by the freemium content and marketing expenses. Coursera added over 12,000 new degree learners across the two years ended December 31, 2020 at an average acquisition cost of just below $2,000. The number of registered users rose by 65% year-on-year in 2020. Coursera’s accumulated deficit since its founding stood at $343.6 million as of December 31, 2020. The company does not expect to turn a profit in the foreseeable future.The company’sCoursera for Campus,launched in late 2019to enable colleges to offer its library of MOOCs to their students, has been a key driver of recent revenue growth. At the start of the pandemic, Coursera made the program free to tertiary institutions until Sept. 30, 2020. Over 4,000 tertiary institutions from across the world signed up for the program, which, according to the company’s S-1 filing, makes it, “one of our fastest growing offerings”. As of December 31, 2020, over 130 tertiary institutions were paying for it.At this point, it is hard to predict what the end of the pandemic would have on the company’s operating results.SuRo Capital - Coursera’s ProxySan Francisco-based SuRo Capital is a business development company focused on tech startups and innovative private companies. SuRo’s portfolio is heavily concentrated in preferred shares of noteworthy tech startups such asCourseHero,Rent the Runway,Nextdoor,Blink HealthandForge Global.The largest and most noteworthy position in their portfolio is a $94 million stake in Palantir Technologies(NYSE:PLTR). In fact, my first article on the company was publishedjust before Palantir’s IPO. Over the past 12 months, the stock is up 281%, which means it outperformed the most talked about tech ETF of the year - Ark Innovation ETF(NYSEARCA:ARKK).Now, Palantir accounts for 31.4% of SuRo’s portfolio. Coursera is the second-largest holding. Accounting for 17.6% of the portfolio, SuRo reported the fair value of its stake at $53.2 million recently. It’s worth noting that SuRo holds this stake in preferred shares paying out 8% a year in dividends. These preferred shares should be worth a lot more when the company lists publicly. Analysts estimate Coursera could be worth as much as$5 billion, which is roughly double its valuation from 2020.At that price, Coursera would become SuRo’s largest holding, adding roughly $50 million to the company’s book value.Altogether,SuRo’s portfolio is worth $430 million. Meanwhile, the company’s market capitalization is $274 million. If the Coursera IPO is as successful as some of the other major tech IPOs we’ve witnessed this year, this discount to fair value could broaden further.The Strategy and Market OpportunityCoursera is one of the most disruptive firms in the world. It has a flywheel approach to value creation, with significant price-to-cost advantages versus its competition. The company reported that about half of its new degree students in 2020 had been previously registered with Coursera and that its average student acquisition cost was less than $2,000. Its average student acquisition cost is lower than the industry standard. The edu-tech platform is able to efficiently acquire learners at scale because of the huge number of free, high-quality courses that it offers in partnership with top educational institutions and corporations; its ability to personalize content based on its wealth of data; the strength of word-of-mouth promotion by learners; the profitability of its affiliate paid marketing channel.The platform offers a number of education tracks, for example:Specializations: A learner can pay between $39 and $99 a month for job-specific content across over 500 categories.MasterTrack Certificates: For a quarter to a year, a learner can earn a certificate issued by a university-issued certificate. Prices range from $2,000 to $6,000.Bachelor’s or Master’s Degrees: Fees range from $9,000 to $45,000.Coursera for Enterprise: Through this platform, businesses, educational institutions and governments can deploy content to their learners.In response to the Covid-19 pandemic, Coursera partnered with over 330 government agencies across 30 U.S. states and cities and 70 countries as part of itsCoursera Workforce Recovery Initiative, which gave governments the chance to offer unemployed workers free access to thousands of business, data science, and technology courses from companies such as Amazon(NASDAQ:AMZN)and Google(NASDAQ:GOOG)(NASDAQ:GOOGL).The company has 77 million registered learners, as well as over 2,000 businesses (including 25% of Fortune 500 companies) and 100 government agencies who paid for its enterprise offerings. The majority of its revenue (51%) was earned outside of the United States. Converting only a fraction of its 77 million registered users into paid users would change the economics of customer acquisition. The company’s present scale is a huge competitive advantage in the market.A learner’s curriculum is designed to be “stackable”, which is to say that a learner can go through a domain in an incremental fashion. The company is able to leverage the huge volume of data it has accumulated from its over 220 million enrollments to personalize content. So, for example, Coursera’s Skills Graphs can suggest paths for job skills.Coursera uses technology to drive down distribution costs, make content more affordable, extend access to less economically-endowed regions, help learners keep abreast of emerging skills, and grow its market opportunity. The Covid-19 pandemic has only accelerated secular trends towards the use of technology in education.The size of the addressable market is massive and it’s easy to see why.An August 2020 study by the United Nationsdemonstrates the degree of disruption brought on by the Covid-19 pandemic: of the 1.6 billion students in 190 countries covered in the report, or 94% of the world’s students, were prevented from going to school because of Covid-19 pandemic related school closures.In 2017, the World Bank indicated thatof the 200 million college students in the world, many do not have job-specific skills.The Covid-19 pandemic and prior secular trends suggest that the future of education is in blended classrooms, job-specific education and continuous, lifelong education. Online learning platforms like Coursera will be the primary means through which educational content is delivered.Globally, spending on higher education in 2019 was $2.2 trillion,according to HolonIQ. Spending on online degrees was $36 billion and is predicted to reach $74 billion by 2025.With a huge, existing learner base; a strong brand; and the significant advantages detailed above, Coursera is likely to grab a significant amount of the market’s growth. Of thescenarios for the future of education, it seems that Coursera will continue to grow.RisksCoursera's S-1 lists several potential risks that investors should be aware of. However, I believe some are more noteworthy than others and Coursera may have missed some key risks.Competition, for one, is something the team could have elaborated on further. Coursera is far from the only online education provider. In fact, many of its rivals including Skillshare, Gumroad, Khan Academy and Udemy have more recognizable brands.Khan Academy is particularly noteworthy because many of the courses it offers are free. That, in my opinion, is another key risk for Coursera and perhaps the entire EdTech space. While higher education is a luxury service in North America, it's free in places like Germany. Much of the world would prefer a low-cost or free model to develop talent and plug the skills gap. College in India, for instance, costs$5,000 a year on average. Coursera isn't profitable at its current average pricing of $9,000 to $25,000 per degree course. Lower costs in the rest of the world could make profitability a bigger challenge.Coursera could potentially overcome these challenges by recruiting lower-cost education providers in emerging markets, convincing students to pay a premium and differentiating its courses by partnering with elite universities and recruitment channels.ConclusionCoursera seems poised to meet the challenges of a changing education landscape. With its vast, existing user base, its flywheel model, its competitive advantages, and its existence in a huge and growing addressable market, the company is likely to do very well. The company’s value proposition is compelling. However, long run success does not equate to a good investment in the short run. An unprofitable company like Coursera is likely to be very volatile on the markets until it reaches profitability. It is better to wait for Coursera to turn a profit before investing in the company.","news_type":1},"isVote":1,"tweetType":1,"viewCount":556,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355506877,"gmtCreate":1617080905499,"gmtModify":1704801708658,"author":{"id":"3568079581270090","authorId":"3568079581270090","name":"rippz","avatar":"https://static.tigerbbs.com/5de4d3155c456d7b67b3d746b35aeccc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568079581270090","authorIdStr":"3568079581270090"},"themes":[],"htmlText":"Madness&nbsp; &nbsp;&nbsp;","listText":"Madness&nbsp; &nbsp;&nbsp;","text":"Madness","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/355506877","repostId":"1112608299","repostType":4,"repost":{"id":"1112608299","pubTimestamp":1617073562,"share":"https://ttm.financial/m/news/1112608299?lang=&edition=fundamental","pubTime":"2021-03-30 11:06","market":"us","language":"en","title":"Billions in Secret Derivatives at Center of Archegos Blowup","url":"https://stock-news.laohu8.com/highlight/detail?id=1112608299","media":"Bloomberg","summary":"(Bloomberg) -- The forced liquidation of more than $20 billion in holdings linked to Bill Hwang’s in","content":"<p>(Bloomberg) -- The forced liquidation of more than $20 billion in holdings linked to Bill Hwang’s investment firm is drawing attention to the covert financial instruments he used to build large stakes in companies.</p>\n<p>Much of the leverage used by Hwang’s Archegos Capital Management was provided by banks including Nomura Holdings Inc. and Credit Suisse Group AG through swaps or so-called contracts-for-difference, according to people with direct knowledge of the deals. It means Archegos may never actually have owned most of the underlying securities -- if any at all.</p>\n<p>While investors who own a stake of more than 5% in a U.S.-listed company usually have to disclose their holdings and subsequent transactions, that’s not the case with positions built through the type of derivatives apparently used by Archegos. The products, which are transacted off exchanges, allow managers like Hwang to amass exposure to publicly-traded companies without having to declare it.</p>\n<p>The swift unwinding of Archegos has reverberated across the globe, after banks such as Goldman Sachs Group Inc. and Morgan Stanley forced Hwang’s firm to sell billions of dollars in investments accumulated through highly leveraged bets. The selloff roiled stocks from Baidu Inc. to ViacomCBS Inc., and prompted Nomura and Credit Suisse to disclose that they face potentially significant losses on their exposure.</p>\n<p>One reason for the widening fallout is the borrowed funds that investors use to magnify their bets: a margin call occurs when the market goes against a large, leveraged position, forcing the hedge fund to deposit more cash or securities with its broker to cover any losses. Archegos was probably required to deposit only a small percentage of the total value of trades.</p>\n<p>The chain of events set off by this massive unwinding is yet another reminder of the role that hedge funds play in the global capital markets. A hedge fund short squeeze during a Reddit-fueled frenzy for Gamestop Corp. shares earlier this year spurred a $6 billion loss for Gabe Plotkin’s Melvin Capital and sparked scrutiny from U.S. regulators and politicians.</p>\n<p>The idea that one firm can quietly amass outsized positions through the use of derivatives could set off another wave of criticism directed against loosely regulated firms that have the power to destabilize markets.</p>\n<p>While the margin calls on Friday triggered losses of as much as 40% in some shares, there was no sign of contagion in markets broadly on Monday. Contrast that with 2008, when Ireland’s then-richest man used derivatives to build a position so large in Anglo Irish Bank Corp. it eventually contributed to the country’s international bailout. In 2015, New York-based FXCM Inc. needed rescuing because of losses at its U.K. affiliate resulting from the unexpected de-pegging of the Swiss franc.</p>\n<p>Much about Hwang’s trades remains unclear, but market participants estimate his assets had grown to anywhere from $5 billion to $10 billion in recent years and total positions may have topped $50 billion.</p>\n<p>“This is a challenging time for the family office of Archegos Capital Management, our partners and employees,” Karen Kessler, a spokesperson for Archegos, said late Monday in an emailed statement. “All plans are being discussed as Mr. Hwang and the team determine the best path forward.”</p>\n<p>CFDs and swaps are among bespoke derivatives that investors trade privately between themselves, or over-the-counter, instead of through public exchanges. Such opacity helped to worsen the 2008 financial crisis and regulators have introduced a vast new body of rules governing the assets since then.</p>\n<p>Over-the-counter equity derivatives occupy one of the smallest corners of this opaque market. Swaps and forwards linked to stocks had a gross market value of $282 billion at the end of June 2020, according to data from the Bank for International Settlements. That compared with $10.3 trillion for swaps linked to interest rates and $2.4 trillion for swaps and forwards linked to currencies.</p>\n<p>Regulators have begun clamping down on CFDs in recent years because they’re concerned the derivatives are too complex and too risky for retail investors, with the European Securities and Markets Authority in 2018 restricting the distribution to individuals and capping leverage. In the U.S., CFDs are largely banned for amateur traders.</p>\n<p>Banks still favor them because they can make a large profit without needing to set aside as much capital versus trading actual securities, another consequence of regulation imposed in the aftermath of the global financial crisis. Among hedge funds, equity swaps and CFDs grew in popularity because they are exempt from stamp duty in high-tax jurisdictions such as the U.K.</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>Billions in Secret Derivatives at Center of Archegos Blowup</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\">\nBillions in Secret Derivatives at Center of Archegos Blowup\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-30 11:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/billions-secretive-derivatives-center-archegos-102415242.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- The forced liquidation of more than $20 billion in holdings linked to Bill Hwang’s investment firm is drawing attention to the covert financial instruments he used to build large stakes...</p>\n\n<a href=\"https://finance.yahoo.com/news/billions-secretive-derivatives-center-archegos-102415242.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/aab667b22ddd84f63ad2db656e8a0d4f","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/billions-secretive-derivatives-center-archegos-102415242.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112608299","content_text":"(Bloomberg) -- The forced liquidation of more than $20 billion in holdings linked to Bill Hwang’s investment firm is drawing attention to the covert financial instruments he used to build large stakes in companies.\nMuch of the leverage used by Hwang’s Archegos Capital Management was provided by banks including Nomura Holdings Inc. and Credit Suisse Group AG through swaps or so-called contracts-for-difference, according to people with direct knowledge of the deals. It means Archegos may never actually have owned most of the underlying securities -- if any at all.\nWhile investors who own a stake of more than 5% in a U.S.-listed company usually have to disclose their holdings and subsequent transactions, that’s not the case with positions built through the type of derivatives apparently used by Archegos. The products, which are transacted off exchanges, allow managers like Hwang to amass exposure to publicly-traded companies without having to declare it.\nThe swift unwinding of Archegos has reverberated across the globe, after banks such as Goldman Sachs Group Inc. and Morgan Stanley forced Hwang’s firm to sell billions of dollars in investments accumulated through highly leveraged bets. The selloff roiled stocks from Baidu Inc. to ViacomCBS Inc., and prompted Nomura and Credit Suisse to disclose that they face potentially significant losses on their exposure.\nOne reason for the widening fallout is the borrowed funds that investors use to magnify their bets: a margin call occurs when the market goes against a large, leveraged position, forcing the hedge fund to deposit more cash or securities with its broker to cover any losses. Archegos was probably required to deposit only a small percentage of the total value of trades.\nThe chain of events set off by this massive unwinding is yet another reminder of the role that hedge funds play in the global capital markets. A hedge fund short squeeze during a Reddit-fueled frenzy for Gamestop Corp. shares earlier this year spurred a $6 billion loss for Gabe Plotkin’s Melvin Capital and sparked scrutiny from U.S. regulators and politicians.\nThe idea that one firm can quietly amass outsized positions through the use of derivatives could set off another wave of criticism directed against loosely regulated firms that have the power to destabilize markets.\nWhile the margin calls on Friday triggered losses of as much as 40% in some shares, there was no sign of contagion in markets broadly on Monday. Contrast that with 2008, when Ireland’s then-richest man used derivatives to build a position so large in Anglo Irish Bank Corp. it eventually contributed to the country’s international bailout. In 2015, New York-based FXCM Inc. needed rescuing because of losses at its U.K. affiliate resulting from the unexpected de-pegging of the Swiss franc.\nMuch about Hwang’s trades remains unclear, but market participants estimate his assets had grown to anywhere from $5 billion to $10 billion in recent years and total positions may have topped $50 billion.\n“This is a challenging time for the family office of Archegos Capital Management, our partners and employees,” Karen Kessler, a spokesperson for Archegos, said late Monday in an emailed statement. “All plans are being discussed as Mr. Hwang and the team determine the best path forward.”\nCFDs and swaps are among bespoke derivatives that investors trade privately between themselves, or over-the-counter, instead of through public exchanges. Such opacity helped to worsen the 2008 financial crisis and regulators have introduced a vast new body of rules governing the assets since then.\nOver-the-counter equity derivatives occupy one of the smallest corners of this opaque market. Swaps and forwards linked to stocks had a gross market value of $282 billion at the end of June 2020, according to data from the Bank for International Settlements. That compared with $10.3 trillion for swaps linked to interest rates and $2.4 trillion for swaps and forwards linked to currencies.\nRegulators have begun clamping down on CFDs in recent years because they’re concerned the derivatives are too complex and too risky for retail investors, with the European Securities and Markets Authority in 2018 restricting the distribution to individuals and capping leverage. In the U.S., CFDs are largely banned for amateur traders.\nBanks still favor them because they can make a large profit without needing to set aside as much capital versus trading actual securities, another consequence of regulation imposed in the aftermath of the global financial crisis. Among hedge funds, equity swaps and CFDs grew in popularity because they are exempt from stamp duty in high-tax jurisdictions such as the U.K.","news_type":1},"isVote":1,"tweetType":1,"viewCount":239,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355506046,"gmtCreate":1617080870685,"gmtModify":1704801708009,"author":{"id":"3568079581270090","authorId":"3568079581270090","name":"rippz","avatar":"https://static.tigerbbs.com/5de4d3155c456d7b67b3d746b35aeccc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568079581270090","authorIdStr":"3568079581270090"},"themes":[],"htmlText":"Madness","listText":"Madness","text":"Madness","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/355506046","repostId":"2123126131","repostType":4,"repost":{"id":"2123126131","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":1617074537,"share":"https://ttm.financial/m/news/2123126131?lang=&edition=fundamental","pubTime":"2021-03-30 11:22","market":"sg","language":"en","title":"Singapore Hin Leong founder O.K. Lim faces another 23 forgery-related charges - prosecutor","url":"https://stock-news.laohu8.com/highlight/detail?id=2123126131","media":"Reuters","summary":"SINGAPORE, March 30 (Reuters) - Lim Oon Kuin, the founder of collapsed oil trading firm Hin Leong Tr","content":"<p>SINGAPORE, March 30 (Reuters) - Lim Oon Kuin, the founder of collapsed oil trading firm Hin Leong Trading Pte Ltd, is expected to face another 23 charges of forgery-related offences soon, Singapore's prosecution said.</p>\n<p>The 23 charges are expected to be tendered on April 8, Deputy Public Prosecutor Navin Naidu told a Singapore court on Monday.</p>\n<p>The Singapore Attorney-General's Chambers confirmed the prosecutor's comments.</p>\n<p>The Lim family's legal advisers, Davinder Singh Chambers LLC, did not immediately respond to an emailed request for comment.</p>\n<p>Last year, Singapore police charged the 78-year-old former oil tycoon, better known as O.K. Lim, with two counts of abetment of forgery for the purpose of cheating.</p>\n<p>Owned by O.K. Lim and his children, Hin Leong was set up in 1973 and was once <a href=\"https://laohu8.com/S/AONE\">one</a> of Asia's top oil traders. It racked up some $4 billion in debt after a crash in oil prices last year exposed years of losses and alleged fraud by the Lim family.</p>\n<p>Accounting firm PwC, which was appointed Hin Leong's judicial manager by the court, said in a report last year the company had overstated the value of its assets by at least $3 billion.</p>\n<p>Hin Leong entered court restructuring last year and was wound up in March.</p>\n<p>(Reporting by Aradhana Aravindan; Writing by Florence Tan; Editing by Lincoln Feast.)</p>\n<p>((Florence.Tan@thomsonreuters.com; Reuters Messaging: florence.tan.thomsonreuters.com@reuters.net))</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>Singapore Hin Leong founder O.K. Lim faces another 23 forgery-related charges - prosecutor</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\">\nSingapore Hin Leong founder O.K. Lim faces another 23 forgery-related charges - prosecutor\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\">2021-03-30 11:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>SINGAPORE, March 30 (Reuters) - Lim Oon Kuin, the founder of collapsed oil trading firm Hin Leong Trading Pte Ltd, is expected to face another 23 charges of forgery-related offences soon, Singapore's prosecution said.</p>\n<p>The 23 charges are expected to be tendered on April 8, Deputy Public Prosecutor Navin Naidu told a Singapore court on Monday.</p>\n<p>The Singapore Attorney-General's Chambers confirmed the prosecutor's comments.</p>\n<p>The Lim family's legal advisers, Davinder Singh Chambers LLC, did not immediately respond to an emailed request for comment.</p>\n<p>Last year, Singapore police charged the 78-year-old former oil tycoon, better known as O.K. Lim, with two counts of abetment of forgery for the purpose of cheating.</p>\n<p>Owned by O.K. Lim and his children, Hin Leong was set up in 1973 and was once <a href=\"https://laohu8.com/S/AONE\">one</a> of Asia's top oil traders. It racked up some $4 billion in debt after a crash in oil prices last year exposed years of losses and alleged fraud by the Lim family.</p>\n<p>Accounting firm PwC, which was appointed Hin Leong's judicial manager by the court, said in a report last year the company had overstated the value of its assets by at least $3 billion.</p>\n<p>Hin Leong entered court restructuring last year and was wound up in March.</p>\n<p>(Reporting by Aradhana Aravindan; Writing by Florence Tan; Editing by Lincoln Feast.)</p>\n<p>((Florence.Tan@thomsonreuters.com; Reuters Messaging: florence.tan.thomsonreuters.com@reuters.net))</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a2b8c3b51114fd73abb93d39ddbf6e91","relate_stocks":{"DUG":"二倍做空石油与天然气ETF(ProShares)","SCO":"二倍做空彭博原油指数ETF","DWT":"三倍做空原油ETN","USO":"美国原油ETF","DDG":"ProShares做空石油与天然气ETF","UCO":"二倍做多彭博原油ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2123126131","content_text":"SINGAPORE, March 30 (Reuters) - Lim Oon Kuin, the founder of collapsed oil trading firm Hin Leong Trading Pte Ltd, is expected to face another 23 charges of forgery-related offences soon, Singapore's prosecution said.\nThe 23 charges are expected to be tendered on April 8, Deputy Public Prosecutor Navin Naidu told a Singapore court on Monday.\nThe Singapore Attorney-General's Chambers confirmed the prosecutor's comments.\nThe Lim family's legal advisers, Davinder Singh Chambers LLC, did not immediately respond to an emailed request for comment.\nLast year, Singapore police charged the 78-year-old former oil tycoon, better known as O.K. Lim, with two counts of abetment of forgery for the purpose of cheating.\nOwned by O.K. Lim and his children, Hin Leong was set up in 1973 and was once one of Asia's top oil traders. It racked up some $4 billion in debt after a crash in oil prices last year exposed years of losses and alleged fraud by the Lim family.\nAccounting firm PwC, which was appointed Hin Leong's judicial manager by the court, said in a report last year the company had overstated the value of its assets by at least $3 billion.\nHin Leong entered court restructuring last year and was wound up in March.\n(Reporting by Aradhana Aravindan; Writing by Florence Tan; Editing by Lincoln Feast.)\n((Florence.Tan@thomsonreuters.com; Reuters Messaging: florence.tan.thomsonreuters.com@reuters.net))","news_type":1},"isVote":1,"tweetType":1,"viewCount":467,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355920775,"gmtCreate":1617025161897,"gmtModify":1704800988066,"author":{"id":"3568079581270090","authorId":"3568079581270090","name":"rippz","avatar":"https://static.tigerbbs.com/5de4d3155c456d7b67b3d746b35aeccc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568079581270090","authorIdStr":"3568079581270090"},"themes":[],"htmlText":"Red incoming","listText":"Red incoming","text":"Red incoming","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/355920775","repostId":"2123535672","repostType":4,"repost":{"id":"2123535672","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":1617023424,"share":"https://ttm.financial/m/news/2123535672?lang=&edition=fundamental","pubTime":"2021-03-29 21:10","market":"us","language":"en","title":"Wall Street set to slip as bank stocks fall on hedge fund default concerns","url":"https://stock-news.laohu8.com/highlight/detail?id=2123535672","media":"Reuters","summary":"(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news","content":"<p>(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)</p>\n<ul>\n <li>Boeing rises on Southwest's orders for 737 MAX jets</li>\n <li>Archegos-linked stocks extend losses from last week</li>\n <li>Futures down: Dow 0.57%, S&amp;P 0.55%, Nasdaq 0.31%</li>\n</ul>\n<p>March 29 (Reuters) - U.S. stock index futures pointed to a lower open for Wall Street on Monday after a surge in the previous session, as global banks said they faced potential losses from a hedge fund's default on margin calls.</p>\n<p>Nomura and Credit Suisse warned of losses after the U.S. hedge fund, named by sources as Archegos Capital, defaulted, hitting shares in some big U.S. media and Chinese tech companies.</p>\n<p>Shares in <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> tumbled about 5% after the Financial Times reported it had also sold billions of shares, while $Bank of America Corp(BAC-N)$ , $Citigroup Inc(C-N)$ , JPMorgan Chase &amp; Co , Goldman Sachs and Wells Fargo &amp; Co dropped between 1.6% and 2.5%.</p>\n<p>The news has raised concerns about whether the full extent of Archegos' apparent wipeout has been realized or whether there was more selling to come from other lenders.</p>\n<p>Nomura still has positions to unwind, Bloomberg reported, citing a Japan government official.</p>\n<p>Shares in Discovery Inc , U.S.-listed shares of Tencent Music , ViacomCBS , Baidu and VIPShop , all linked to Archegos Capital, gave up early gains to shed 0.6% and 5.8%. Theses stocks lost between 30% and 50% of their values last week.</p>\n<p>\"It's a black eye for the financial industry because it suggests that there still may not be a full handle on risk control when it comes to leveraged trading,\" said Rick Meckler, partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey.</p>\n<p>\"This seems like a pretty specific case. It could lead to increased regulation ... but the impact on broader markets is going to be small.\"</p>\n<p>Wall Street's main indexes surged over 1% in a late-session rally on Friday as investors looking to rebalance their portfolios at the end of the quarter, piled into economy-linked banks, energy, materials as well as technology names.</p>\n<p>The Dow and the S&amp;P 500 are less than 1% from their record highs, while the tech-heavy Nasdaq is still about 7.1% from its February all-time high.</p>\n<p>\"We've come far really fast and I wouldn't be surprised to see a pause ... especially after the rally that we've had and because we don't have earnings season yet right,\" said Stephanie Link, chief investment strategist at Hightower Advisors.</p>\n<p>At 08:40 a.m. ET, Dow E-minis were down 188 points, or 0.57%, S&amp;P 500 E-minis were down 21.75 points, or 0.55% and Nasdaq 100 E-minis were down 40.75 points, or 0.31%.</p>\n<p>Planemaker Boeing Co rose 2.6% after reaching a deal with U.S. budget carrier Southwest Airlines Co for 100 orders for a variant of the 737 MAX aircraft. Southwest's shares gained about 0.5%.</p>\n<p>Bitcoin prices gained about 4% after <a href=\"https://laohu8.com/S/V\">Visa</a> Inc</p>\n<p>said it would allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of digital currencies by the mainstream financial industry.</p>\n<p>(Reporting by Devik Jain and Medha Singh in Bengaluru; Editing by Maju Samuel)</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>Wall Street set to slip as bank stocks fall on hedge fund default concerns</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\">\nWall Street set to slip as bank stocks fall on hedge fund default concerns\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\">2021-03-29 21:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)</p>\n<ul>\n <li>Boeing rises on Southwest's orders for 737 MAX jets</li>\n <li>Archegos-linked stocks extend losses from last week</li>\n <li>Futures down: Dow 0.57%, S&amp;P 0.55%, Nasdaq 0.31%</li>\n</ul>\n<p>March 29 (Reuters) - U.S. stock index futures pointed to a lower open for Wall Street on Monday after a surge in the previous session, as global banks said they faced potential losses from a hedge fund's default on margin calls.</p>\n<p>Nomura and Credit Suisse warned of losses after the U.S. hedge fund, named by sources as Archegos Capital, defaulted, hitting shares in some big U.S. media and Chinese tech companies.</p>\n<p>Shares in <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> tumbled about 5% after the Financial Times reported it had also sold billions of shares, while $Bank of America Corp(BAC-N)$ , $Citigroup Inc(C-N)$ , JPMorgan Chase &amp; Co , Goldman Sachs and Wells Fargo &amp; Co dropped between 1.6% and 2.5%.</p>\n<p>The news has raised concerns about whether the full extent of Archegos' apparent wipeout has been realized or whether there was more selling to come from other lenders.</p>\n<p>Nomura still has positions to unwind, Bloomberg reported, citing a Japan government official.</p>\n<p>Shares in Discovery Inc , U.S.-listed shares of Tencent Music , ViacomCBS , Baidu and VIPShop , all linked to Archegos Capital, gave up early gains to shed 0.6% and 5.8%. Theses stocks lost between 30% and 50% of their values last week.</p>\n<p>\"It's a black eye for the financial industry because it suggests that there still may not be a full handle on risk control when it comes to leveraged trading,\" said Rick Meckler, partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey.</p>\n<p>\"This seems like a pretty specific case. It could lead to increased regulation ... but the impact on broader markets is going to be small.\"</p>\n<p>Wall Street's main indexes surged over 1% in a late-session rally on Friday as investors looking to rebalance their portfolios at the end of the quarter, piled into economy-linked banks, energy, materials as well as technology names.</p>\n<p>The Dow and the S&amp;P 500 are less than 1% from their record highs, while the tech-heavy Nasdaq is still about 7.1% from its February all-time high.</p>\n<p>\"We've come far really fast and I wouldn't be surprised to see a pause ... especially after the rally that we've had and because we don't have earnings season yet right,\" said Stephanie Link, chief investment strategist at Hightower Advisors.</p>\n<p>At 08:40 a.m. ET, Dow E-minis were down 188 points, or 0.57%, S&amp;P 500 E-minis were down 21.75 points, or 0.55% and Nasdaq 100 E-minis were down 40.75 points, or 0.31%.</p>\n<p>Planemaker Boeing Co rose 2.6% after reaching a deal with U.S. budget carrier Southwest Airlines Co for 100 orders for a variant of the 737 MAX aircraft. Southwest's shares gained about 0.5%.</p>\n<p>Bitcoin prices gained about 4% after <a href=\"https://laohu8.com/S/V\">Visa</a> Inc</p>\n<p>said it would allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of digital currencies by the mainstream financial industry.</p>\n<p>(Reporting by Devik Jain and Medha Singh in Bengaluru; Editing by Maju Samuel)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DOG":"道指反向ETF","PSQ":"纳指反向ETF",".DJI":"道琼斯","JPM":"摩根大通","DDM":"道指两倍做多ETF","QLD":"纳指两倍做多ETF",".IXIC":"NASDAQ Composite","DXD":"道指两倍做空ETF","UDOW":"道指三倍做多ETF-ProShares","SQQQ":"纳指三倍做空ETF",".SPX":"S&P 500 Index","QQQ":"纳指100ETF","TQQQ":"纳指三倍做多ETF","DJX":"1/100道琼斯","QID":"纳指两倍做空ETF","SDOW":"道指三倍做空ETF-ProShares"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2123535672","content_text":"(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)\n\nBoeing rises on Southwest's orders for 737 MAX jets\nArchegos-linked stocks extend losses from last week\nFutures down: Dow 0.57%, S&P 0.55%, Nasdaq 0.31%\n\nMarch 29 (Reuters) - U.S. stock index futures pointed to a lower open for Wall Street on Monday after a surge in the previous session, as global banks said they faced potential losses from a hedge fund's default on margin calls.\nNomura and Credit Suisse warned of losses after the U.S. hedge fund, named by sources as Archegos Capital, defaulted, hitting shares in some big U.S. media and Chinese tech companies.\nShares in Morgan Stanley tumbled about 5% after the Financial Times reported it had also sold billions of shares, while $Bank of America Corp(BAC-N)$ , $Citigroup Inc(C-N)$ , JPMorgan Chase & Co , Goldman Sachs and Wells Fargo & Co dropped between 1.6% and 2.5%.\nThe news has raised concerns about whether the full extent of Archegos' apparent wipeout has been realized or whether there was more selling to come from other lenders.\nNomura still has positions to unwind, Bloomberg reported, citing a Japan government official.\nShares in Discovery Inc , U.S.-listed shares of Tencent Music , ViacomCBS , Baidu and VIPShop , all linked to Archegos Capital, gave up early gains to shed 0.6% and 5.8%. Theses stocks lost between 30% and 50% of their values last week.\n\"It's a black eye for the financial industry because it suggests that there still may not be a full handle on risk control when it comes to leveraged trading,\" said Rick Meckler, partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey.\n\"This seems like a pretty specific case. It could lead to increased regulation ... but the impact on broader markets is going to be small.\"\nWall Street's main indexes surged over 1% in a late-session rally on Friday as investors looking to rebalance their portfolios at the end of the quarter, piled into economy-linked banks, energy, materials as well as technology names.\nThe Dow and the S&P 500 are less than 1% from their record highs, while the tech-heavy Nasdaq is still about 7.1% from its February all-time high.\n\"We've come far really fast and I wouldn't be surprised to see a pause ... especially after the rally that we've had and because we don't have earnings season yet right,\" said Stephanie Link, chief investment strategist at Hightower Advisors.\nAt 08:40 a.m. ET, Dow E-minis were down 188 points, or 0.57%, S&P 500 E-minis were down 21.75 points, or 0.55% and Nasdaq 100 E-minis were down 40.75 points, or 0.31%.\nPlanemaker Boeing Co rose 2.6% after reaching a deal with U.S. budget carrier Southwest Airlines Co for 100 orders for a variant of the 737 MAX aircraft. Southwest's shares gained about 0.5%.\nBitcoin prices gained about 4% after Visa Inc\nsaid it would allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of digital currencies by the mainstream financial industry.\n(Reporting by Devik Jain and Medha Singh in Bengaluru; Editing by Maju Samuel)","news_type":1},"isVote":1,"tweetType":1,"viewCount":211,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328493746,"gmtCreate":1615546940285,"gmtModify":1704784387196,"author":{"id":"3568079581270090","authorId":"3568079581270090","name":"rippz","avatar":"https://static.tigerbbs.com/5de4d3155c456d7b67b3d746b35aeccc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568079581270090","authorIdStr":"3568079581270090"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/328493746","repostId":"1155506399","repostType":4,"repost":{"id":"1155506399","pubTimestamp":1615543208,"share":"https://ttm.financial/m/news/1155506399?lang=&edition=fundamental","pubTime":"2021-03-12 18:00","market":"us","language":"en","title":"Don’t be fooled by the ‘value’ tag on these tech stocks. Many can provide plenty of growth too","url":"https://stock-news.laohu8.com/highlight/detail?id=1155506399","media":"MarketWatch","summary":"Facebook, Oracle and Micron Technology are reasonably valued when considering the outlook for their ","content":"<p>Facebook, Oracle and Micron Technology are reasonably valued when considering the outlook for their sales growth.</p>\n<p>With another round of federal stimulus on the way and expectations for solid growth for the U.S. economy this year, value stocks have been rallying. Stocks with low valuations tend to do well during economic growth phases.</p>\n<p>Mark DeCambre&nbsp;underlined the value rallyby pointing out that the Dow Jones Industrial Average&nbsp;ended at a record high Dec. 10, while the Nasdaq Composite Index&nbsp;was still in a correction.</p>\n<p>But what about tech stocks? There’s plenty of value there too, as you can see in the screen below.</p>\n<p>Economists&nbsp;polled by MarketWatch expect the U.S. economy to expand by 6% in 2021. Yes, that’s coming off a 3.5% contraction in 2020, according to the&nbsp;latest estimate&nbsp;from the Bureau of Economic Analysis. But the 2021 growth rate would be the fastest since 1984, according to&nbsp;World Bank&nbsp;data.</p>\n<p><b>Tech value stock screen</b></p>\n<p>There are several definitions of value stocks, but generally they are those that trade at lower valuations to earnings and typically grow their sales at a slower pace. That said, an individual value stock might also be considered a growth stock. This is illustrated by the Russell indexes.</p>\n<p>The Russell 1000 Index&nbsp;is made up of the 1,000 largest publicly traded U.S. companies by market capitalization and is reconstituted each year in June. Selected from the Russell 1000 are the Russell 1000 Value Index,which has 849 stocks, and the Russell 1000 Growth Index,which has 453 stocks. The groups overlap, with 291 stocks in both. You can read how FTSE Russell describes the makeup of its indexeshere.</p>\n<p>So an easy way to play value at this time is to buy shares of an exchange traded fund that tracks the Russell 1000 Value Index,such as the iShares Russell 1000 Value ETF&nbsp;or the Vanguard Russell 1000 Value ETF.As always, do your own research on any investment you consider to make an informed decisions.</p>\n<p>For a large-cap technology value screen, we started with the information technology sector of the S&amp;P 500 Index.Here’s how this sector’s weighted aggregate forward price-to-earnings ratio has increased over the past five years:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/448e8db17465fbd7031f10b78f718961\" tg-width=\"1259\" tg-height=\"988\"><span>(FACTSET)</span></p>\n<p>The sector’s forward P/E his risen to 25.4.</p>\n<p>This doesn’t mean “expensive” tech stocks can’t be excellent investments. Salesforce.com&nbsp;was trading at a forward P/E of 68.7 five years ago, and the stock has nearly tripled since then.</p>\n<p>Getting back to the S&amp;P 500 tech value screen, we then added tech-oriented stocks in the communications services sector, including videogame developers and Facebook Inc.,Alphabet Inc.,Netflix Inc.&nbsp;and Twitter Inc..That brought the list up to 82 stocks. Two of the videogame developers made the cut, but among the four companies named above, only Facebook had a low enough P/E to pass the screen.</p>\n<p>Here are the 43 S&amp;P 500 tech companies that trade below the tech sector’s forward P/E of 25.4:</p>\n<table>\n <thead>\n  <tr>\n   <th>COMPANY</th>\n   <th>TICKER</th>\n   <th>INDUSTRY</th>\n   <th>FORWARD P/E</th>\n   <th>FORWARD PRICE/SALES</th>\n   <th>ESTIMATED OPERATING MARGIN - 2020</th>\n   <th>EXPECTED SALES GROWTH - 2021</th>\n   <th>ESTIMATED SALES GROWTH - 2020</th>\n   <th>DIVIDEND YIELD</th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td>HEWLETT PACKARD ENTERPRISE CO.</td>\n   <td>HPE</td>\n   <td>COMPUTER PROCESSING HARDWARE</td>\n   <td>8.5</td>\n   <td>0.7</td>\n   <td>15.93%</td>\n   <td>2%</td>\n   <td>-6%</td>\n   <td>3.17%</td>\n  </tr>\n  <tr>\n   <td>DXC Technology Co.</td>\n   <td>DXC</td>\n   <td>Data Processing Services</td>\n   <td>9.1</td>\n   <td>0.4</td>\n   <td>11.83%</td>\n   <td>-6%</td>\n   <td>-8%</td>\n   <td>0.00%</td>\n  </tr>\n  <tr>\n   <td>HP Inc.</td>\n   <td>HPQ</td>\n   <td>Computer Processing Hardware</td>\n   <td>9.6</td>\n   <td>0.6</td>\n   <td>8.58%</td>\n   <td>5%</td>\n   <td>-2%</td>\n   <td>2.56%</td>\n  </tr>\n  <tr>\n   <td>International Business Machines Corp.</td>\n   <td>IBM</td>\n   <td>Information Technology Services</td>\n   <td>11.5</td>\n   <td>1.5</td>\n   <td>22.24%</td>\n   <td>1%</td>\n   <td>-5%</td>\n   <td>5.10%</td>\n  </tr>\n  <tr>\n   <td>Western Union Company</td>\n   <td>WU</td>\n   <td>Finance/Rental/Leasing</td>\n   <td>12.0</td>\n   <td>2.0</td>\n   <td>25.48%</td>\n   <td>6%</td>\n   <td>-8%</td>\n   <td>3.82%</td>\n  </tr>\n  <tr>\n   <td>Vontier Corp</td>\n   <td>VNT</td>\n   <td>Other Transportation</td>\n   <td>12.7</td>\n   <td>1.9</td>\n   <td>23.54%</td>\n   <td>2%</td>\n   <td>N/A</td>\n   <td>0.00%</td>\n  </tr>\n  <tr>\n   <td>Seagate Technology PLC</td>\n   <td>STX</td>\n   <td>Computer Peripherals</td>\n   <td>12.9</td>\n   <td>1.6</td>\n   <td>16.69%</td>\n   <td>2%</td>\n   <td>1%</td>\n   <td>3.58%</td>\n  </tr>\n  <tr>\n   <td>Intel Corp.</td>\n   <td>INTC</td>\n   <td>Semiconductors</td>\n   <td>13.1</td>\n   <td>3.5</td>\n   <td>46.12%</td>\n   <td>-7%</td>\n   <td>8%</td>\n   <td>2.23%</td>\n  </tr>\n  <tr>\n   <td>Xerox Holdings Corp.</td>\n   <td>XRX</td>\n   <td>Computer Peripherals</td>\n   <td>13.2</td>\n   <td>0.7</td>\n   <td>9.57%</td>\n   <td>1%</td>\n   <td>-23%</td>\n   <td>3.77%</td>\n  </tr>\n  <tr>\n   <td>NortonLifeLock Inc.</td>\n   <td>NLOK</td>\n   <td>Packaged Software</td>\n   <td>13.3</td>\n   <td>4.6</td>\n   <td>45.97%</td>\n   <td>5%</td>\n   <td>-17%</td>\n   <td>2.38%</td>\n  </tr>\n  <tr>\n   <td>Western Digital Corp.</td>\n   <td>WDC</td>\n   <td>Computer Peripherals</td>\n   <td>13.6</td>\n   <td>1.2</td>\n   <td>13.77%</td>\n   <td>5%</td>\n   <td>-1%</td>\n   <td>0.00%</td>\n  </tr>\n  <tr>\n   <td>Micron Technology Inc.</td>\n   <td>MU</td>\n   <td>Semiconductors</td>\n   <td>14.0</td>\n   <td>3.4</td>\n   <td>42.02%</td>\n   <td>24%</td>\n   <td>1%</td>\n   <td>0.00%</td>\n  </tr>\n  <tr>\n   <td>Cisco Systems Inc.</td>\n   <td>CSCO</td>\n   <td>Information Technology Services</td>\n   <td>14.5</td>\n   <td>4.0</td>\n   <td>31.85%</td>\n   <td>1%</td>\n   <td>-3%</td>\n   <td>3.06%</td>\n  </tr>\n  <tr>\n   <td>Juniper Networks Inc.</td>\n   <td>JNPR</td>\n   <td>Information Technology Services</td>\n   <td>14.9</td>\n   <td>1.8</td>\n   <td>14.68%</td>\n   <td>4%</td>\n   <td>0%</td>\n   <td>3.24%</td>\n  </tr>\n  <tr>\n   <td>Oracle Corp.</td>\n   <td>ORCL</td>\n   <td>Packaged Software</td>\n   <td>15.4</td>\n   <td>5.2</td>\n   <td>45.99%</td>\n   <td>3%</td>\n   <td>2%</td>\n   <td>1.77%</td>\n  </tr>\n  <tr>\n   <td>NetApp Inc.</td>\n   <td>NTAP</td>\n   <td>Computer Peripherals</td>\n   <td>15.5</td>\n   <td>2.5</td>\n   <td>20.87%</td>\n   <td>5%</td>\n   <td>-1%</td>\n   <td>2.88%</td>\n  </tr>\n  <tr>\n   <td>Qorvo Inc.</td>\n   <td>QRVO</td>\n   <td>Semiconductors</td>\n   <td>16.0</td>\n   <td>4.3</td>\n   <td>33.32%</td>\n   <td>12%</td>\n   <td>19%</td>\n   <td>0.00%</td>\n  </tr>\n  <tr>\n   <td>Broadcom Inc.</td>\n   <td>AVGO</td>\n   <td>Semiconductors</td>\n   <td>16.0</td>\n   <td>6.6</td>\n   <td>48.55%</td>\n   <td>11%</td>\n   <td>7%</td>\n   <td>3.29%</td>\n  </tr>\n  <tr>\n   <td>Skyworks Solutions Inc.</td>\n   <td>SWKS</td>\n   <td>Semiconductors</td>\n   <td>17.1</td>\n   <td>5.8</td>\n   <td>39.24%</td>\n   <td>32%</td>\n   <td>11%</td>\n   <td>1.19%</td>\n  </tr>\n  <tr>\n   <td>Qualcomm Inc.</td>\n   <td>QCOM</td>\n   <td>Telecommunications Equipment</td>\n   <td>17.3</td>\n   <td>4.6</td>\n   <td>34.20%</td>\n   <td>32%</td>\n   <td>20%</td>\n   <td>2.03%</td>\n  </tr>\n  <tr>\n   <td>Akamai Technologies Inc.</td>\n   <td>AKAM</td>\n   <td>Internet Software/Services</td>\n   <td>17.8</td>\n   <td>4.6</td>\n   <td>36.90%</td>\n   <td>7%</td>\n   <td>11%</td>\n   <td>0.00%</td>\n  </tr>\n  <tr>\n   <td>Applied Materials Inc.</td>\n   <td>AMAT</td>\n   <td>Industrial Machinery</td>\n   <td>18.3</td>\n   <td>4.7</td>\n   <td>27.95%</td>\n   <td>22%</td>\n   <td>19%</td>\n   <td>0.78%</td>\n  </tr>\n  <tr>\n   <td>F5 Networks Inc.</td>\n   <td>FFIV</td>\n   <td>Computer Communications</td>\n   <td>18.5</td>\n   <td>4.6</td>\n   <td>23.93%</td>\n   <td>8%</td>\n   <td>6%</td>\n   <td>0.00%</td>\n  </tr>\n  <tr>\n   <td>Cognizant Technology Solutions Corp. Class A</td>\n   <td>CTSH</td>\n   <td>Information Technology Services</td>\n   <td>19.2</td>\n   <td>2.3</td>\n   <td>17.33%</td>\n   <td>7%</td>\n   <td>-1%</td>\n   <td>1.26%</td>\n  </tr>\n  <tr>\n   <td>Microchip Technology Inc.</td>\n   <td>MCHP</td>\n   <td>Semiconductors</td>\n   <td>19.3</td>\n   <td>6.3</td>\n   <td>38.76%</td>\n   <td>10%</td>\n   <td>2%</td>\n   <td>1.10%</td>\n  </tr>\n  <tr>\n   <td>Corning Inc.</td>\n   <td>GLW</td>\n   <td>Electronic Components</td>\n   <td>19.9</td>\n   <td>2.3</td>\n   <td>24.82%</td>\n   <td>14%</td>\n   <td>-2%</td>\n   <td>2.46%</td>\n  </tr>\n  <tr>\n   <td>KLA Corp.</td>\n   <td>KLAC</td>\n   <td>Electronic Production Equipment</td>\n   <td>20.0</td>\n   <td>6.3</td>\n   <td>38.69%</td>\n   <td>10%</td>\n   <td>21%</td>\n   <td>1.27%</td>\n  </tr>\n  <tr>\n   <td>Lam Research Corp.</td>\n   <td>LRCX</td>\n   <td>Electronic Production Equipment</td>\n   <td>20.1</td>\n   <td>5.1</td>\n   <td>31.05%</td>\n   <td>19%</td>\n   <td>23%</td>\n   <td>1.00%</td>\n  </tr>\n  <tr>\n   <td>Motorola Solutions Inc.</td>\n   <td>MSI</td>\n   <td>Aerospace &amp; Defense</td>\n   <td>20.4</td>\n   <td>3.8</td>\n   <td>25.63%</td>\n   <td>8%</td>\n   <td>-6%</td>\n   <td>1.60%</td>\n  </tr>\n  <tr>\n   <td>Citrix Systems Inc.</td>\n   <td>CTXS</td>\n   <td>Packaged Software</td>\n   <td>20.7</td>\n   <td>4.8</td>\n   <td>25.60%</td>\n   <td>4%</td>\n   <td>8%</td>\n   <td>1.12%</td>\n  </tr>\n  <tr>\n   <td>TE Connectivity Ltd.</td>\n   <td>TEL</td>\n   <td>Electronic Components</td>\n   <td>21.9</td>\n   <td>3.1</td>\n   <td>20.96%</td>\n   <td>12%</td>\n   <td>-4%</td>\n   <td>1.48%</td>\n  </tr>\n  <tr>\n   <td>CDW Corp.</td>\n   <td>CDW</td>\n   <td>Information Technology Services</td>\n   <td>22.0</td>\n   <td>1.1</td>\n   <td>8.73%</td>\n   <td>6%</td>\n   <td>2%</td>\n   <td>1.02%</td>\n  </tr>\n  <tr>\n   <td>Electronic Arts Inc.</td>\n   <td>EA</td>\n   <td>Recreational Products</td>\n   <td>22.2</td>\n   <td>5.9</td>\n   <td>25.35%</td>\n   <td>7%</td>\n   <td>14%</td>\n   <td>0.52%</td>\n  </tr>\n  <tr>\n   <td>Teradyne Inc.</td>\n   <td>TER</td>\n   <td>Electronic Production Equipment</td>\n   <td>22.5</td>\n   <td>5.5</td>\n   <td>32.80%</td>\n   <td>6%</td>\n   <td>36%</td>\n   <td>0.37%</td>\n  </tr>\n  <tr>\n   <td>Fiserv Inc.</td>\n   <td>FISV</td>\n   <td>Data Processing Services</td>\n   <td>22.9</td>\n   <td>5.5</td>\n   <td>33.83%</td>\n   <td>9%</td>\n   <td>-4%</td>\n   <td>0.00%</td>\n  </tr>\n  <tr>\n   <td>Fidelity National Information Services Inc.</td>\n   <td>FIS</td>\n   <td>Data Processing Services</td>\n   <td>22.9</td>\n   <td>6.6</td>\n   <td>41.91%</td>\n   <td>9%</td>\n   <td>21%</td>\n   <td>1.07%</td>\n  </tr>\n  <tr>\n   <td>Fleetcor Technologies Inc.</td>\n   <td>FLT</td>\n   <td>Miscellaneous Commercial Services</td>\n   <td>22.9</td>\n   <td>9.0</td>\n   <td>55.51%</td>\n   <td>11%</td>\n   <td>-10%</td>\n   <td>0.00%</td>\n  </tr>\n  <tr>\n   <td>Flir Systems Inc.</td>\n   <td>FLIR</td>\n   <td>Aerospace &amp; Defense</td>\n   <td>23.1</td>\n   <td>3.7</td>\n   <td>23.00%</td>\n   <td>0%</td>\n   <td>2%</td>\n   <td>1.25%</td>\n  </tr>\n  <tr>\n   <td>Facebook Inc. Class A</td>\n   <td>FB</td>\n   <td>Internet Software/Services</td>\n   <td>23.2</td>\n   <td>7.0</td>\n   <td>45.99%</td>\n   <td>25%</td>\n   <td>22%</td>\n   <td>0.00%</td>\n  </tr>\n  <tr>\n   <td>Keysight Technologies Inc.</td>\n   <td>KEYS</td>\n   <td>Electronic Equipment/Instruments</td>\n   <td>23.4</td>\n   <td>5.1</td>\n   <td>25.57%</td>\n   <td>13%</td>\n   <td>1%</td>\n   <td>0.00%</td>\n  </tr>\n  <tr>\n   <td>Analog Devices Inc.</td>\n   <td>ADI</td>\n   <td>Semiconductors</td>\n   <td>23.9</td>\n   <td>8.2</td>\n   <td>43.13%</td>\n   <td>14%</td>\n   <td>-3%</td>\n   <td>1.88%</td>\n  </tr>\n  <tr>\n   <td>Activision Blizzard Inc.</td>\n   <td>ATVI</td>\n   <td>Recreational Products</td>\n   <td>25.0</td>\n   <td>8.3</td>\n   <td>41.32%</td>\n   <td>1%</td>\n   <td>32%</td>\n   <td>0.51%</td>\n  </tr>\n  <tr>\n   <td>Texas Instruments Inc.</td>\n   <td>TXN</td>\n   <td>Semiconductors</td>\n   <td>25.2</td>\n   <td>9.4</td>\n   <td>47.78%</td>\n   <td>15%</td>\n   <td>1%</td>\n   <td>2.41%</td>\n  </tr>\n </tbody>\n</table>\n<p>FactSet</p>\n<p>Scroll the table to see all the data, including sales growth estimates and dividend yields.</p>\n<p>A note about the data: The operating margin and sales growth figures for 2020 are marked “estimated” because many companies have fiscal years that don’t match the calendar. So the figures are based on consensus estimates for&nbsp;<i>calendar</i>&nbsp;2020 among analyst polled by FactSet. For Micron Technology Inc.,the 2020 sales growth figure is for the past four reported fiscal quarters through Dec. 3.</p>\n<p><b>The curious case of Facebook</b></p>\n<p>You might wonder about Facebook, which lives in both the value and growth worlds. Its forward P/E valuation of 23.2 is relatively low. But Facebook is very much a growth stock — sales increased 22% last year, and analysts expect even better revenue growth of 25% in 2021.</p>\n<p>Facebook trades for seven times the consensus forward sales estimate, compared to a forward price-to-sales estimate of 5.9 for the entire S&amp;P 500 tech sector. But that “high” price-to-sales ratio may not be so important because it is such a profitable company. Its 2020 operating margin of 50% is among the highest on the list.</p>\n<p>Cody Willard called Facebook a bargain, not only because of its low P/E valuation but because of&nbsp;the long-term growth path&nbsp;for its Oculus virtual-reality hardware and software.</p>\n<p>There are 16 companies on the list that are expected to produce double-digit increases in sales in 2021, including Skyworks Solutions Inc.&nbsp;and Qualcomm Inc..Both are expected to grow their revenues by 21% this year.</p>\n<p><b>‘Old tech’</b></p>\n<p>Oracle Corp.&nbsp;is an “old tech” company that can be considered a value stock, as it trades for only 15.4 times the consensus earnings estimate for the next 12 months among analysts polled by FactSet. The company reported better-than-expected results for its fiscal third quarter after the close March 10 and&nbsp;increased its quarterly dividend by a third. Then on March 11, the stock fell as much as 9%. That “sell the good news” reaction may not be much of a surprise, as the stock had risen 48% over the previous year through March 10.</p>\n<p>International Business Machines Corp.&nbsp;is one of the cheapest stocks on the list, based on its forward P/E ratio of 11.5. The stock was up 2% from a year earlier through the close March 10. It has an attractive dividend yield of 5.10% that is supported by strong free cash flow.</p>\n<p>Victoria Greene, a portfolio manager at G Squared Private Wealth in College Station, Texas,may have been a bit early&nbsp;when naming IBM as an excellent long-term play in June. But in a recent interview, she said she was still confident that there was a lot of upside for IBM “as a turnaround story and reinventing themselves,” in light of its July 2019 acquisition of Red Hat and the strength of its Watson artificial-intelligence software platform.</p>\n<p><b>Wall Street’s price targets</b></p>\n<p>Leaving the list of 43 tech value stocks in the same order, here’s a summary of opinion among analysts polled by FactSet:</p>\n<table>\n <thead>\n  <tr>\n   <th>COMPANY</th>\n   <th>TICKER</th>\n   <th>SHARE \"BUY\" RATINGS</th>\n   <th>SHARE NEUTRAL RATINGS</th>\n   <th>SHARE \"SELL\" RATINGS</th>\n   <th>CLOSING PRICE - MARCH 10</th>\n   <th>CONSENSUS PRICE TARGET</th>\n   <th>IMPLIED 12-MONTH UPSIDE POTENTIAL</th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td>HEWLETT PACKARD ENTERPRISE CO.</td>\n   <td>HPE</td>\n   <td>33%</td>\n   <td>57%</td>\n   <td>10%</td>\n   <td>$15.15</td>\n   <td>$15.46</td>\n   <td>2%</td>\n  </tr>\n  <tr>\n   <td>DXC Technology Co.</td>\n   <td>DXC</td>\n   <td>29%</td>\n   <td>71%</td>\n   <td>0%</td>\n   <td>$29.00</td>\n   <td>$30.43</td>\n   <td>5%</td>\n  </tr>\n  <tr>\n   <td>HP Inc.</td>\n   <td>HPQ</td>\n   <td>39%</td>\n   <td>39%</td>\n   <td>22%</td>\n   <td>$30.26</td>\n   <td>$30.63</td>\n   <td>1%</td>\n  </tr>\n  <tr>\n   <td>International Business Machines Corp.</td>\n   <td>IBM</td>\n   <td>31%</td>\n   <td>56%</td>\n   <td>13%</td>\n   <td>$127.87</td>\n   <td>$136.93</td>\n   <td>7%</td>\n  </tr>\n  <tr>\n   <td>Western Union Company</td>\n   <td>WU</td>\n   <td>18%</td>\n   <td>59%</td>\n   <td>23%</td>\n   <td>$24.60</td>\n   <td>$25.14</td>\n   <td>2%</td>\n  </tr>\n  <tr>\n   <td>Vontier Corp</td>\n   <td>VNT</td>\n   <td>73%</td>\n   <td>27%</td>\n   <td>0%</td>\n   <td>$30.94</td>\n   <td>$39.56</td>\n   <td>28%</td>\n  </tr>\n  <tr>\n   <td>Seagate Technology PLC</td>\n   <td>STX</td>\n   <td>38%</td>\n   <td>48%</td>\n   <td>14%</td>\n   <td>$74.93</td>\n   <td>$74.83</td>\n   <td>0%</td>\n  </tr>\n  <tr>\n   <td>Intel Corp.</td>\n   <td>INTC</td>\n   <td>37%</td>\n   <td>39%</td>\n   <td>24%</td>\n   <td>$62.25</td>\n   <td>$63.93</td>\n   <td>3%</td>\n  </tr>\n  <tr>\n   <td>Xerox Holdings Corp.</td>\n   <td>XRX</td>\n   <td>0%</td>\n   <td>38%</td>\n   <td>62%</td>\n   <td>$26.53</td>\n   <td>$18.00</td>\n   <td>-32%</td>\n  </tr>\n  <tr>\n   <td>NortonLifeLock Inc.</td>\n   <td>NLOK</td>\n   <td>50%</td>\n   <td>50%</td>\n   <td>0%</td>\n   <td>$21.01</td>\n   <td>$25.88</td>\n   <td>23%</td>\n  </tr>\n  <tr>\n   <td>Western Digital Corp.</td>\n   <td>WDC</td>\n   <td>66%</td>\n   <td>31%</td>\n   <td>3%</td>\n   <td>$66.58</td>\n   <td>$71.35</td>\n   <td>7%</td>\n  </tr>\n  <tr>\n   <td>Micron Technology Inc.</td>\n   <td>MU</td>\n   <td>82%</td>\n   <td>18%</td>\n   <td>0%</td>\n   <td>$85.41</td>\n   <td>$112.26</td>\n   <td>31%</td>\n  </tr>\n  <tr>\n   <td>Cisco Systems Inc.</td>\n   <td>CSCO</td>\n   <td>46%</td>\n   <td>54%</td>\n   <td>0%</td>\n   <td>$48.29</td>\n   <td>$51.90</td>\n   <td>7%</td>\n  </tr>\n  <tr>\n   <td>Juniper Networks Inc.</td>\n   <td>JNPR</td>\n   <td>24%</td>\n   <td>57%</td>\n   <td>19%</td>\n   <td>$24.69</td>\n   <td>$25.05</td>\n   <td>1%</td>\n  </tr>\n  <tr>\n   <td>Oracle Corp.</td>\n   <td>ORCL</td>\n   <td>37%</td>\n   <td>56%</td>\n   <td>7%</td>\n   <td>$72.12</td>\n   <td>$72.35</td>\n   <td>0%</td>\n  </tr>\n  <tr>\n   <td>NetApp Inc.</td>\n   <td>NTAP</td>\n   <td>46%</td>\n   <td>46%</td>\n   <td>8%</td>\n   <td>$66.66</td>\n   <td>$74.77</td>\n   <td>12%</td>\n  </tr>\n  <tr>\n   <td>Qorvo Inc.</td>\n   <td>QRVO</td>\n   <td>65%</td>\n   <td>35%</td>\n   <td>0%</td>\n   <td>$165.37</td>\n   <td>$196.52</td>\n   <td>19%</td>\n  </tr>\n  <tr>\n   <td>Broadcom Inc.</td>\n   <td>AVGO</td>\n   <td>81%</td>\n   <td>16%</td>\n   <td>3%</td>\n   <td>$437.59</td>\n   <td>$512.83</td>\n   <td>17%</td>\n  </tr>\n  <tr>\n   <td>Skyworks Solutions Inc.</td>\n   <td>SWKS</td>\n   <td>57%</td>\n   <td>43%</td>\n   <td>0%</td>\n   <td>$167.66</td>\n   <td>$202.44</td>\n   <td>21%</td>\n  </tr>\n  <tr>\n   <td>Qualcomm Inc.</td>\n   <td>QCOM</td>\n   <td>70%</td>\n   <td>27%</td>\n   <td>3%</td>\n   <td>$127.87</td>\n   <td>$171.90</td>\n   <td>34%</td>\n  </tr>\n  <tr>\n   <td>Akamai Technologies Inc.</td>\n   <td>AKAM</td>\n   <td>67%</td>\n   <td>28%</td>\n   <td>5%</td>\n   <td>$96.36</td>\n   <td>$123.69</td>\n   <td>28%</td>\n  </tr>\n  <tr>\n   <td>Applied Materials Inc.</td>\n   <td>AMAT</td>\n   <td>84%</td>\n   <td>16%</td>\n   <td>0%</td>\n   <td>$112.68</td>\n   <td>$136.83</td>\n   <td>21%</td>\n  </tr>\n  <tr>\n   <td>F5 Networks Inc.</td>\n   <td>FFIV</td>\n   <td>50%</td>\n   <td>50%</td>\n   <td>0%</td>\n   <td>$191.70</td>\n   <td>$220.13</td>\n   <td>15%</td>\n  </tr>\n  <tr>\n   <td>Cognizant Technology Solutions Corp. Class A</td>\n   <td>CTSH</td>\n   <td>48%</td>\n   <td>42%</td>\n   <td>10%</td>\n   <td>$76.02</td>\n   <td>$85.19</td>\n   <td>12%</td>\n  </tr>\n  <tr>\n   <td>Microchip Technology Inc.</td>\n   <td>MCHP</td>\n   <td>79%</td>\n   <td>21%</td>\n   <td>0%</td>\n   <td>$141.32</td>\n   <td>$170.52</td>\n   <td>21%</td>\n  </tr>\n  <tr>\n   <td>Corning Inc.</td>\n   <td>GLW</td>\n   <td>57%</td>\n   <td>43%</td>\n   <td>0%</td>\n   <td>$38.97</td>\n   <td>$41.29</td>\n   <td>6%</td>\n  </tr>\n  <tr>\n   <td>KLA Corp.</td>\n   <td>KLAC</td>\n   <td>45%</td>\n   <td>55%</td>\n   <td>0%</td>\n   <td>$283.45</td>\n   <td>$320.12</td>\n   <td>13%</td>\n  </tr>\n  <tr>\n   <td>Lam Research Corp.</td>\n   <td>LRCX</td>\n   <td>76%</td>\n   <td>20%</td>\n   <td>4%</td>\n   <td>$518.70</td>\n   <td>$593.68</td>\n   <td>14%</td>\n  </tr>\n  <tr>\n   <td>Motorola Solutions Inc.</td>\n   <td>MSI</td>\n   <td>75%</td>\n   <td>25%</td>\n   <td>0%</td>\n   <td>$177.76</td>\n   <td>$204.78</td>\n   <td>15%</td>\n  </tr>\n  <tr>\n   <td>Citrix Systems Inc.</td>\n   <td>CTXS</td>\n   <td>53%</td>\n   <td>47%</td>\n   <td>0%</td>\n   <td>$131.78</td>\n   <td>$159.23</td>\n   <td>21%</td>\n  </tr>\n  <tr>\n   <td>TE Connectivity Ltd.</td>\n   <td>TEL</td>\n   <td>60%</td>\n   <td>35%</td>\n   <td>5%</td>\n   <td>$130.09</td>\n   <td>$136.50</td>\n   <td>5%</td>\n  </tr>\n  <tr>\n   <td>CDW Corp.</td>\n   <td>CDW</td>\n   <td>73%</td>\n   <td>18%</td>\n   <td>9%</td>\n   <td>$156.44</td>\n   <td>$169.56</td>\n   <td>8%</td>\n  </tr>\n  <tr>\n   <td>Electronic Arts Inc.</td>\n   <td>EA</td>\n   <td>62%</td>\n   <td>38%</td>\n   <td>0%</td>\n   <td>$130.12</td>\n   <td>$158.83</td>\n   <td>22%</td>\n  </tr>\n  <tr>\n   <td>Teradyne Inc.</td>\n   <td>TER</td>\n   <td>61%</td>\n   <td>33%</td>\n   <td>6%</td>\n   <td>$108.91</td>\n   <td>$136.89</td>\n   <td>26%</td>\n  </tr>\n  <tr>\n   <td>Fiserv Inc.</td>\n   <td>FISV</td>\n   <td>86%</td>\n   <td>11%</td>\n   <td>3%</td>\n   <td>$123.86</td>\n   <td>$136.55</td>\n   <td>10%</td>\n  </tr>\n  <tr>\n   <td>Fidelity National Information Services Inc.</td>\n   <td>FIS</td>\n   <td>74%</td>\n   <td>26%</td>\n   <td>0%</td>\n   <td>$145.52</td>\n   <td>$160.44</td>\n   <td>10%</td>\n  </tr>\n  <tr>\n   <td>Fleetcor Technologies Inc.</td>\n   <td>FLT</td>\n   <td>62%</td>\n   <td>38%</td>\n   <td>0%</td>\n   <td>$285.37</td>\n   <td>$299.16</td>\n   <td>5%</td>\n  </tr>\n  <tr>\n   <td>Flir Systems Inc.</td>\n   <td>FLIR</td>\n   <td>0%</td>\n   <td>100%</td>\n   <td>0%</td>\n   <td>$54.59</td>\n   <td>$55.17</td>\n   <td>1%</td>\n  </tr>\n  <tr>\n   <td>Facebook Inc. Class A</td>\n   <td>FB</td>\n   <td>86%</td>\n   <td>10%</td>\n   <td>4%</td>\n   <td>$264.90</td>\n   <td>$340.40</td>\n   <td>29%</td>\n  </tr>\n  <tr>\n   <td>Keysight Technologies Inc.</td>\n   <td>KEYS</td>\n   <td>85%</td>\n   <td>15%</td>\n   <td>0%</td>\n   <td>$135.28</td>\n   <td>$164.77</td>\n   <td>22%</td>\n  </tr>\n  <tr>\n   <td>Analog Devices Inc.</td>\n   <td>ADI</td>\n   <td>83%</td>\n   <td>17%</td>\n   <td>0%</td>\n   <td>$147.11</td>\n   <td>$181.55</td>\n   <td>23%</td>\n  </tr>\n  <tr>\n   <td>Activision Blizzard Inc.</td>\n   <td>ATVI</td>\n   <td>82%</td>\n   <td>15%</td>\n   <td>3%</td>\n   <td>$91.31</td>\n   <td>$113.32</td>\n   <td>24%</td>\n  </tr>\n  <tr>\n   <td>Texas Instruments Inc.</td>\n   <td>TXN</td>\n   <td>43%</td>\n   <td>40%</td>\n   <td>17%</td>\n   <td>$169.42</td>\n   <td>$184.80</td>\n   <td>9%</td>\n  </tr>\n </tbody>\n</table>\n<p>FactSet</p>\n<p>Scroll the table to the right to see the price targets.</p>\n<p>The analysts see double-digit upside potential for 25 of the 43 stocks over the next 12 months, with Qualcomm in the lead. Among the analysts polled by FactSet, 70% rate Qualcomm a “buy” or the equivalent. And the consensus price target implies 34% upside for the stock.</p>\n<p>The listed stock with the highest percentage of “buy” or equivalent ratings is Facebook, at 86%. The analysts expect the stock to rise 29% over the next year.</p>","source":"market_watch","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>Don’t be fooled by the ‘value’ tag on these tech stocks. Many can provide plenty of growth too</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\">\nDon’t be fooled by the ‘value’ tag on these tech stocks. Many can provide plenty of growth too\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-12 18:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/dont-be-fooled-by-the-value-tag-on-these-tech-stocks-many-can-provide-plenty-of-growth-too-11615484802?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Facebook, Oracle and Micron Technology are reasonably valued when considering the outlook for their sales growth.\nWith another round of federal stimulus on the way and expectations for solid growth ...</p>\n\n<a href=\"https://www.marketwatch.com/story/dont-be-fooled-by-the-value-tag-on-these-tech-stocks-many-can-provide-plenty-of-growth-too-11615484802?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":{".DJI":"道琼斯","INTC":"英特尔",".IXIC":"NASDAQ Composite","ORCL":"甲骨文",".SPX":"S&P 500 Index","TWTR":"Twitter"},"source_url":"https://www.marketwatch.com/story/dont-be-fooled-by-the-value-tag-on-these-tech-stocks-many-can-provide-plenty-of-growth-too-11615484802?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1155506399","content_text":"Facebook, Oracle and Micron Technology are reasonably valued when considering the outlook for their sales growth.\nWith another round of federal stimulus on the way and expectations for solid growth for the U.S. economy this year, value stocks have been rallying. Stocks with low valuations tend to do well during economic growth phases.\nMark DeCambre underlined the value rallyby pointing out that the Dow Jones Industrial Average ended at a record high Dec. 10, while the Nasdaq Composite Index was still in a correction.\nBut what about tech stocks? There’s plenty of value there too, as you can see in the screen below.\nEconomists polled by MarketWatch expect the U.S. economy to expand by 6% in 2021. Yes, that’s coming off a 3.5% contraction in 2020, according to the latest estimate from the Bureau of Economic Analysis. But the 2021 growth rate would be the fastest since 1984, according to World Bank data.\nTech value stock screen\nThere are several definitions of value stocks, but generally they are those that trade at lower valuations to earnings and typically grow their sales at a slower pace. That said, an individual value stock might also be considered a growth stock. This is illustrated by the Russell indexes.\nThe Russell 1000 Index is made up of the 1,000 largest publicly traded U.S. companies by market capitalization and is reconstituted each year in June. Selected from the Russell 1000 are the Russell 1000 Value Index,which has 849 stocks, and the Russell 1000 Growth Index,which has 453 stocks. The groups overlap, with 291 stocks in both. You can read how FTSE Russell describes the makeup of its indexeshere.\nSo an easy way to play value at this time is to buy shares of an exchange traded fund that tracks the Russell 1000 Value Index,such as the iShares Russell 1000 Value ETF or the Vanguard Russell 1000 Value ETF.As always, do your own research on any investment you consider to make an informed decisions.\nFor a large-cap technology value screen, we started with the information technology sector of the S&P 500 Index.Here’s how this sector’s weighted aggregate forward price-to-earnings ratio has increased over the past five years:\n(FACTSET)\nThe sector’s forward P/E his risen to 25.4.\nThis doesn’t mean “expensive” tech stocks can’t be excellent investments. Salesforce.com was trading at a forward P/E of 68.7 five years ago, and the stock has nearly tripled since then.\nGetting back to the S&P 500 tech value screen, we then added tech-oriented stocks in the communications services sector, including videogame developers and Facebook Inc.,Alphabet Inc.,Netflix Inc. and Twitter Inc..That brought the list up to 82 stocks. Two of the videogame developers made the cut, but among the four companies named above, only Facebook had a low enough P/E to pass the screen.\nHere are the 43 S&P 500 tech companies that trade below the tech sector’s forward P/E of 25.4:\n\n\n\nCOMPANY\nTICKER\nINDUSTRY\nFORWARD P/E\nFORWARD PRICE/SALES\nESTIMATED OPERATING MARGIN - 2020\nEXPECTED SALES GROWTH - 2021\nESTIMATED SALES GROWTH - 2020\nDIVIDEND YIELD\n\n\n\n\nHEWLETT PACKARD ENTERPRISE CO.\nHPE\nCOMPUTER PROCESSING HARDWARE\n8.5\n0.7\n15.93%\n2%\n-6%\n3.17%\n\n\nDXC Technology Co.\nDXC\nData Processing Services\n9.1\n0.4\n11.83%\n-6%\n-8%\n0.00%\n\n\nHP Inc.\nHPQ\nComputer Processing Hardware\n9.6\n0.6\n8.58%\n5%\n-2%\n2.56%\n\n\nInternational Business Machines Corp.\nIBM\nInformation Technology Services\n11.5\n1.5\n22.24%\n1%\n-5%\n5.10%\n\n\nWestern Union Company\nWU\nFinance/Rental/Leasing\n12.0\n2.0\n25.48%\n6%\n-8%\n3.82%\n\n\nVontier Corp\nVNT\nOther Transportation\n12.7\n1.9\n23.54%\n2%\nN/A\n0.00%\n\n\nSeagate Technology PLC\nSTX\nComputer Peripherals\n12.9\n1.6\n16.69%\n2%\n1%\n3.58%\n\n\nIntel Corp.\nINTC\nSemiconductors\n13.1\n3.5\n46.12%\n-7%\n8%\n2.23%\n\n\nXerox Holdings Corp.\nXRX\nComputer Peripherals\n13.2\n0.7\n9.57%\n1%\n-23%\n3.77%\n\n\nNortonLifeLock Inc.\nNLOK\nPackaged Software\n13.3\n4.6\n45.97%\n5%\n-17%\n2.38%\n\n\nWestern Digital Corp.\nWDC\nComputer Peripherals\n13.6\n1.2\n13.77%\n5%\n-1%\n0.00%\n\n\nMicron Technology Inc.\nMU\nSemiconductors\n14.0\n3.4\n42.02%\n24%\n1%\n0.00%\n\n\nCisco Systems Inc.\nCSCO\nInformation Technology Services\n14.5\n4.0\n31.85%\n1%\n-3%\n3.06%\n\n\nJuniper Networks Inc.\nJNPR\nInformation Technology Services\n14.9\n1.8\n14.68%\n4%\n0%\n3.24%\n\n\nOracle Corp.\nORCL\nPackaged Software\n15.4\n5.2\n45.99%\n3%\n2%\n1.77%\n\n\nNetApp Inc.\nNTAP\nComputer Peripherals\n15.5\n2.5\n20.87%\n5%\n-1%\n2.88%\n\n\nQorvo Inc.\nQRVO\nSemiconductors\n16.0\n4.3\n33.32%\n12%\n19%\n0.00%\n\n\nBroadcom Inc.\nAVGO\nSemiconductors\n16.0\n6.6\n48.55%\n11%\n7%\n3.29%\n\n\nSkyworks Solutions Inc.\nSWKS\nSemiconductors\n17.1\n5.8\n39.24%\n32%\n11%\n1.19%\n\n\nQualcomm Inc.\nQCOM\nTelecommunications Equipment\n17.3\n4.6\n34.20%\n32%\n20%\n2.03%\n\n\nAkamai Technologies Inc.\nAKAM\nInternet Software/Services\n17.8\n4.6\n36.90%\n7%\n11%\n0.00%\n\n\nApplied Materials Inc.\nAMAT\nIndustrial Machinery\n18.3\n4.7\n27.95%\n22%\n19%\n0.78%\n\n\nF5 Networks Inc.\nFFIV\nComputer Communications\n18.5\n4.6\n23.93%\n8%\n6%\n0.00%\n\n\nCognizant Technology Solutions Corp. Class A\nCTSH\nInformation Technology Services\n19.2\n2.3\n17.33%\n7%\n-1%\n1.26%\n\n\nMicrochip Technology Inc.\nMCHP\nSemiconductors\n19.3\n6.3\n38.76%\n10%\n2%\n1.10%\n\n\nCorning Inc.\nGLW\nElectronic Components\n19.9\n2.3\n24.82%\n14%\n-2%\n2.46%\n\n\nKLA Corp.\nKLAC\nElectronic Production Equipment\n20.0\n6.3\n38.69%\n10%\n21%\n1.27%\n\n\nLam Research Corp.\nLRCX\nElectronic Production Equipment\n20.1\n5.1\n31.05%\n19%\n23%\n1.00%\n\n\nMotorola Solutions Inc.\nMSI\nAerospace & Defense\n20.4\n3.8\n25.63%\n8%\n-6%\n1.60%\n\n\nCitrix Systems Inc.\nCTXS\nPackaged Software\n20.7\n4.8\n25.60%\n4%\n8%\n1.12%\n\n\nTE Connectivity Ltd.\nTEL\nElectronic Components\n21.9\n3.1\n20.96%\n12%\n-4%\n1.48%\n\n\nCDW Corp.\nCDW\nInformation Technology Services\n22.0\n1.1\n8.73%\n6%\n2%\n1.02%\n\n\nElectronic Arts Inc.\nEA\nRecreational Products\n22.2\n5.9\n25.35%\n7%\n14%\n0.52%\n\n\nTeradyne Inc.\nTER\nElectronic Production Equipment\n22.5\n5.5\n32.80%\n6%\n36%\n0.37%\n\n\nFiserv Inc.\nFISV\nData Processing Services\n22.9\n5.5\n33.83%\n9%\n-4%\n0.00%\n\n\nFidelity National Information Services Inc.\nFIS\nData Processing Services\n22.9\n6.6\n41.91%\n9%\n21%\n1.07%\n\n\nFleetcor Technologies Inc.\nFLT\nMiscellaneous Commercial Services\n22.9\n9.0\n55.51%\n11%\n-10%\n0.00%\n\n\nFlir Systems Inc.\nFLIR\nAerospace & Defense\n23.1\n3.7\n23.00%\n0%\n2%\n1.25%\n\n\nFacebook Inc. Class A\nFB\nInternet Software/Services\n23.2\n7.0\n45.99%\n25%\n22%\n0.00%\n\n\nKeysight Technologies Inc.\nKEYS\nElectronic Equipment/Instruments\n23.4\n5.1\n25.57%\n13%\n1%\n0.00%\n\n\nAnalog Devices Inc.\nADI\nSemiconductors\n23.9\n8.2\n43.13%\n14%\n-3%\n1.88%\n\n\nActivision Blizzard Inc.\nATVI\nRecreational Products\n25.0\n8.3\n41.32%\n1%\n32%\n0.51%\n\n\nTexas Instruments Inc.\nTXN\nSemiconductors\n25.2\n9.4\n47.78%\n15%\n1%\n2.41%\n\n\n\nFactSet\nScroll the table to see all the data, including sales growth estimates and dividend yields.\nA note about the data: The operating margin and sales growth figures for 2020 are marked “estimated” because many companies have fiscal years that don’t match the calendar. So the figures are based on consensus estimates for calendar 2020 among analyst polled by FactSet. For Micron Technology Inc.,the 2020 sales growth figure is for the past four reported fiscal quarters through Dec. 3.\nThe curious case of Facebook\nYou might wonder about Facebook, which lives in both the value and growth worlds. Its forward P/E valuation of 23.2 is relatively low. But Facebook is very much a growth stock — sales increased 22% last year, and analysts expect even better revenue growth of 25% in 2021.\nFacebook trades for seven times the consensus forward sales estimate, compared to a forward price-to-sales estimate of 5.9 for the entire S&P 500 tech sector. But that “high” price-to-sales ratio may not be so important because it is such a profitable company. Its 2020 operating margin of 50% is among the highest on the list.\nCody Willard called Facebook a bargain, not only because of its low P/E valuation but because of the long-term growth path for its Oculus virtual-reality hardware and software.\nThere are 16 companies on the list that are expected to produce double-digit increases in sales in 2021, including Skyworks Solutions Inc. and Qualcomm Inc..Both are expected to grow their revenues by 21% this year.\n‘Old tech’\nOracle Corp. is an “old tech” company that can be considered a value stock, as it trades for only 15.4 times the consensus earnings estimate for the next 12 months among analysts polled by FactSet. The company reported better-than-expected results for its fiscal third quarter after the close March 10 and increased its quarterly dividend by a third. Then on March 11, the stock fell as much as 9%. That “sell the good news” reaction may not be much of a surprise, as the stock had risen 48% over the previous year through March 10.\nInternational Business Machines Corp. is one of the cheapest stocks on the list, based on its forward P/E ratio of 11.5. The stock was up 2% from a year earlier through the close March 10. It has an attractive dividend yield of 5.10% that is supported by strong free cash flow.\nVictoria Greene, a portfolio manager at G Squared Private Wealth in College Station, Texas,may have been a bit early when naming IBM as an excellent long-term play in June. But in a recent interview, she said she was still confident that there was a lot of upside for IBM “as a turnaround story and reinventing themselves,” in light of its July 2019 acquisition of Red Hat and the strength of its Watson artificial-intelligence software platform.\nWall Street’s price targets\nLeaving the list of 43 tech value stocks in the same order, here’s a summary of opinion among analysts polled by FactSet:\n\n\n\nCOMPANY\nTICKER\nSHARE \"BUY\" RATINGS\nSHARE NEUTRAL RATINGS\nSHARE \"SELL\" RATINGS\nCLOSING PRICE - MARCH 10\nCONSENSUS PRICE TARGET\nIMPLIED 12-MONTH UPSIDE POTENTIAL\n\n\n\n\nHEWLETT PACKARD ENTERPRISE CO.\nHPE\n33%\n57%\n10%\n$15.15\n$15.46\n2%\n\n\nDXC Technology Co.\nDXC\n29%\n71%\n0%\n$29.00\n$30.43\n5%\n\n\nHP Inc.\nHPQ\n39%\n39%\n22%\n$30.26\n$30.63\n1%\n\n\nInternational Business Machines Corp.\nIBM\n31%\n56%\n13%\n$127.87\n$136.93\n7%\n\n\nWestern Union Company\nWU\n18%\n59%\n23%\n$24.60\n$25.14\n2%\n\n\nVontier Corp\nVNT\n73%\n27%\n0%\n$30.94\n$39.56\n28%\n\n\nSeagate Technology PLC\nSTX\n38%\n48%\n14%\n$74.93\n$74.83\n0%\n\n\nIntel Corp.\nINTC\n37%\n39%\n24%\n$62.25\n$63.93\n3%\n\n\nXerox Holdings Corp.\nXRX\n0%\n38%\n62%\n$26.53\n$18.00\n-32%\n\n\nNortonLifeLock Inc.\nNLOK\n50%\n50%\n0%\n$21.01\n$25.88\n23%\n\n\nWestern Digital Corp.\nWDC\n66%\n31%\n3%\n$66.58\n$71.35\n7%\n\n\nMicron Technology Inc.\nMU\n82%\n18%\n0%\n$85.41\n$112.26\n31%\n\n\nCisco Systems Inc.\nCSCO\n46%\n54%\n0%\n$48.29\n$51.90\n7%\n\n\nJuniper Networks Inc.\nJNPR\n24%\n57%\n19%\n$24.69\n$25.05\n1%\n\n\nOracle Corp.\nORCL\n37%\n56%\n7%\n$72.12\n$72.35\n0%\n\n\nNetApp Inc.\nNTAP\n46%\n46%\n8%\n$66.66\n$74.77\n12%\n\n\nQorvo Inc.\nQRVO\n65%\n35%\n0%\n$165.37\n$196.52\n19%\n\n\nBroadcom Inc.\nAVGO\n81%\n16%\n3%\n$437.59\n$512.83\n17%\n\n\nSkyworks Solutions Inc.\nSWKS\n57%\n43%\n0%\n$167.66\n$202.44\n21%\n\n\nQualcomm Inc.\nQCOM\n70%\n27%\n3%\n$127.87\n$171.90\n34%\n\n\nAkamai Technologies Inc.\nAKAM\n67%\n28%\n5%\n$96.36\n$123.69\n28%\n\n\nApplied Materials Inc.\nAMAT\n84%\n16%\n0%\n$112.68\n$136.83\n21%\n\n\nF5 Networks Inc.\nFFIV\n50%\n50%\n0%\n$191.70\n$220.13\n15%\n\n\nCognizant Technology Solutions Corp. Class A\nCTSH\n48%\n42%\n10%\n$76.02\n$85.19\n12%\n\n\nMicrochip Technology Inc.\nMCHP\n79%\n21%\n0%\n$141.32\n$170.52\n21%\n\n\nCorning Inc.\nGLW\n57%\n43%\n0%\n$38.97\n$41.29\n6%\n\n\nKLA Corp.\nKLAC\n45%\n55%\n0%\n$283.45\n$320.12\n13%\n\n\nLam Research Corp.\nLRCX\n76%\n20%\n4%\n$518.70\n$593.68\n14%\n\n\nMotorola Solutions Inc.\nMSI\n75%\n25%\n0%\n$177.76\n$204.78\n15%\n\n\nCitrix Systems Inc.\nCTXS\n53%\n47%\n0%\n$131.78\n$159.23\n21%\n\n\nTE Connectivity Ltd.\nTEL\n60%\n35%\n5%\n$130.09\n$136.50\n5%\n\n\nCDW Corp.\nCDW\n73%\n18%\n9%\n$156.44\n$169.56\n8%\n\n\nElectronic Arts Inc.\nEA\n62%\n38%\n0%\n$130.12\n$158.83\n22%\n\n\nTeradyne Inc.\nTER\n61%\n33%\n6%\n$108.91\n$136.89\n26%\n\n\nFiserv Inc.\nFISV\n86%\n11%\n3%\n$123.86\n$136.55\n10%\n\n\nFidelity National Information Services Inc.\nFIS\n74%\n26%\n0%\n$145.52\n$160.44\n10%\n\n\nFleetcor Technologies Inc.\nFLT\n62%\n38%\n0%\n$285.37\n$299.16\n5%\n\n\nFlir Systems Inc.\nFLIR\n0%\n100%\n0%\n$54.59\n$55.17\n1%\n\n\nFacebook Inc. Class A\nFB\n86%\n10%\n4%\n$264.90\n$340.40\n29%\n\n\nKeysight Technologies Inc.\nKEYS\n85%\n15%\n0%\n$135.28\n$164.77\n22%\n\n\nAnalog Devices Inc.\nADI\n83%\n17%\n0%\n$147.11\n$181.55\n23%\n\n\nActivision Blizzard Inc.\nATVI\n82%\n15%\n3%\n$91.31\n$113.32\n24%\n\n\nTexas Instruments Inc.\nTXN\n43%\n40%\n17%\n$169.42\n$184.80\n9%\n\n\n\nFactSet\nScroll the table to the right to see the price targets.\nThe analysts see double-digit upside potential for 25 of the 43 stocks over the next 12 months, with Qualcomm in the lead. Among the analysts polled by FactSet, 70% rate Qualcomm a “buy” or the equivalent. And the consensus price target implies 34% upside for the stock.\nThe listed stock with the highest percentage of “buy” or equivalent ratings is Facebook, at 86%. The analysts expect the stock to rise 29% over the next year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":304,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":357310655,"gmtCreate":1617237525877,"gmtModify":1704697607780,"author":{"id":"3568079581270090","authorId":"3568079581270090","name":"rippz","avatar":"https://static.tigerbbs.com/5de4d3155c456d7b67b3d746b35aeccc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568079581270090","idStr":"3568079581270090"},"themes":[],"htmlText":"Awesome","listText":"Awesome","text":"Awesome","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/357310655","repostId":"1127322570","repostType":4,"repost":{"id":"1127322570","pubTimestamp":1617207242,"share":"https://ttm.financial/m/news/1127322570?lang=&edition=fundamental","pubTime":"2021-04-01 00:14","market":"us","language":"en","title":"Coursera opens for trading at $40, up 21.21% from IPO price","url":"https://stock-news.laohu8.com/highlight/detail?id=1127322570","media":"seekingalpha","summary":"(March 31) Coursera opens for trading at $40, up 21.21% from IPO price. Coursera prices IPO at $33, ","content":"<p>(March 31)&nbsp;Coursera opens for trading at $40, up 21.21% from IPO price. Coursera prices IPO at $33, for valuation of $4.3 billion.</p><p><img src=\"https://static.tigerbbs.com/02b9c1d8ca315aee021355dfdcf3bbf9\" tg-width=\"662\" tg-height=\"418\" referrerpolicy=\"no-referrer\"></p><p>Coursera has&nbsp;priced&nbsp;an IPO of 15.73M shares of its common stock at $33.00/share, including ~14.7M shares to beissued and sold by Coursera and ~1.1M by the selling stockholders.</p><ul><li>Expected gross proceeds are $483.9M.</li><li>Trading kicks off March 31.</li><li>Underwriters' over-allotment is an additional ~2.4M shares.</li><li>Coursera will not receive any proceeds from shares sale by selling stockholders.</li><li>Morgan Stanley and Goldman Sachs are acting as lead book-running managers.</li><li>Closing date is April 5.</li><li>Online learning giant Coursera has 77M registered learners. It partners with over 200 universities and industry partners to offer a broad catalog of content and credentials.</li><li>SuRo Capital, a business development company, holds a massive stake in the company.</li><li>In 2020, Coursera generated $293.5M in revenue, up from $184.4M in&nbsp;2019.&nbsp;</li></ul><p><img src=\"https://static.tigerbbs.com/f4ff108b0210b167aea229922aa82021\" tg-width=\"769\" tg-height=\"431\" referrerpolicy=\"no-referrer\"></p><p>Launched in 2012 by Stanford University computer science professors Daphne Koller and Andrew Ng, Coursera is one of many massive open online course (MOOC) providers that have emerged since the dawn of the Internet. What sets Coursera apart is its symbiotic relationship with established universities. Instead of trying to disrupt the higher education industry, Coursera is attempting to work with them to reimagine what higher education and professional courses should look like in a digital world.</p><p>That strategy seems to be working. Coursera has more than77 million students, more than most of its rivals. The company’sCoursera for Campusattracted 4,000 tertiary institutions from across the world. At the end of 2020, 130 of these institutions were premium subscribers. 2,000 businesses (including 25% of Fortune 500 companies) and 100 government agencies are alsopaying for Coursera’s enterprise offerings.</p><p>Unsurprisingly, that traction is reflected on the top line. In 2020, Coursera generated $293 million in revenue, up 59% from the previous year. Year-on-year user growth came in at 65%. However, the company extended free courses and features throughout the pandemic to gin up traffic. That led to higher costs and a loss of $66.8 million in 2020, up from $46.7 million in 2019. Free cash flow was -$26.9 million over the course of the year.</p><p>Coursera doesn’t expect to become cash flow positive or profitable anytime soon. In fact, theS-1 clearly statesthat the company “had an accumulated deficit of $343.6 million as of December 31, 2020,” and that they anticipate that the company “will continue to incur losses for the foreseeable future.”</p><p>The reopening is another risk. With students heading back to the campus this fall, it’s difficult to say if Coursera can sustain last year’s momentum and keep students and universities engaged on its platform.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2765e424ebb38bf8c4fdf74bcb5d0086\" tg-width=\"605\" tg-height=\"270\" referrerpolicy=\"no-referrer\"><span>Coursera product tiers</span></p><p>Nevertheless, the company’s partnerships with government agencies, library of content from top universities, enterprise training products and micro-certification courses could help it bolster growth over time. Online learning already was a rapidly-growing market pre-pandemic. Some estimates suggest the marketcould be worth $350 billionby 2025. Coursera was last valued at $2.5 billion.</p><p>It could be worth a lot more when the IPO is completed. One early investor is certainly expecting a windfall: SuRo Capital(NASDAQ:SSSS).</p><p><b>Operating Results</b></p><p>The company earned $293 million in revenues for the fiscal year ended December 31, 2020, up 59% from 2019. Net losses widened by about $20 million year-on-year, reaching $66.8 million in 2020. Revenues shot up as a result of the Covid-19 pandemic’s effect on traditional education. In tandem with rising demand, operating costs associated with the company’s services rose, largely driven by the freemium content and marketing expenses. Coursera added over 12,000 new degree learners across the two years ended December 31, 2020 at an average acquisition cost of just below $2,000. The number of registered users rose by 65% year-on-year in 2020. Coursera’s accumulated deficit since its founding stood at $343.6 million as of December 31, 2020. The company does not expect to turn a profit in the foreseeable future.</p><p>The company’sCoursera for Campus,launched in late 2019to enable colleges to offer its library of MOOCs to their students, has been a key driver of recent revenue growth. At the start of the pandemic, Coursera made the program free to tertiary institutions until Sept. 30, 2020. Over 4,000 tertiary institutions from across the world signed up for the program, which, according to the company’s S-1 filing, makes it, “one of our fastest growing offerings”. As of December 31, 2020, over 130 tertiary institutions were paying for it.</p><p>At this point, it is hard to predict what the end of the pandemic would have on the company’s operating results.</p><p><b>SuRo Capital - Coursera’s Proxy</b></p><p>San Francisco-based SuRo Capital is a business development company focused on tech startups and innovative private companies. SuRo’s portfolio is heavily concentrated in preferred shares of noteworthy tech startups such asCourseHero,Rent the Runway,Nextdoor,Blink HealthandForge Global.</p><p>The largest and most noteworthy position in their portfolio is a $94 million stake in Palantir Technologies(NYSE:PLTR). In fact, my first article on the company was publishedjust before Palantir’s IPO. Over the past 12 months, the stock is up 281%, which means it outperformed the most talked about tech ETF of the year - Ark Innovation ETF(NYSEARCA:ARKK).</p><p><img src=\"https://static.tigerbbs.com/803c42a2fe2b33ae60db98bb236a638e\" tg-width=\"1280\" tg-height=\"852\" referrerpolicy=\"no-referrer\"></p><p>Now, Palantir accounts for 31.4% of SuRo’s portfolio. Coursera is the second-largest holding. Accounting for 17.6% of the portfolio, SuRo reported the fair value of its stake at $53.2 million recently. It’s worth noting that SuRo holds this stake in preferred shares paying out 8% a year in dividends. These preferred shares should be worth a lot more when the company lists publicly. Analysts estimate Coursera could be worth as much as$5 billion, which is roughly double its valuation from 2020.</p><p>At that price, Coursera would become SuRo’s largest holding, adding roughly $50 million to the company’s book value.</p><p>Altogether,SuRo’s portfolio is worth $430 million. Meanwhile, the company’s market capitalization is $274 million. If the Coursera IPO is as successful as some of the other major tech IPOs we’ve witnessed this year, this discount to fair value could broaden further.</p><p><b>The Strategy and Market Opportunity</b></p><p>Coursera is one of the most disruptive firms in the world. It has a flywheel approach to value creation, with significant price-to-cost advantages versus its competition. The company reported that about half of its new degree students in 2020 had been previously registered with Coursera and that its average student acquisition cost was less than $2,000. Its average student acquisition cost is lower than the industry standard. The edu-tech platform is able to efficiently acquire learners at scale because of the huge number of free, high-quality courses that it offers in partnership with top educational institutions and corporations; its ability to personalize content based on its wealth of data; the strength of word-of-mouth promotion by learners; the profitability of its affiliate paid marketing channel.</p><p>The platform offers a number of education tracks, for example:</p><ul><li>Specializations: A learner can pay between $39 and $99 a month for job-specific content across over 500 categories.</li><li>MasterTrack Certificates: For a quarter to a year, a learner can earn a certificate issued by a university-issued certificate. Prices range from $2,000 to $6,000.</li><li>Bachelor’s or Master’s Degrees: Fees range from $9,000 to $45,000.</li><li>Coursera for Enterprise: Through this platform, businesses, educational institutions and governments can deploy content to their learners.</li></ul><p>In response to the Covid-19 pandemic, Coursera partnered with over 330 government agencies across 30 U.S. states and cities and 70 countries as part of itsCoursera Workforce Recovery Initiative, which gave governments the chance to offer unemployed workers free access to thousands of business, data science, and technology courses from companies such as Amazon(NASDAQ:AMZN)and Google(NASDAQ:GOOG)(NASDAQ:GOOGL).</p><p>The company has 77 million registered learners, as well as over 2,000 businesses (including 25% of Fortune 500 companies) and 100 government agencies who paid for its enterprise offerings. The majority of its revenue (51%) was earned outside of the United States. Converting only a fraction of its 77 million registered users into paid users would change the economics of customer acquisition. The company’s present scale is a huge competitive advantage in the market.</p><p>A learner’s curriculum is designed to be “stackable”, which is to say that a learner can go through a domain in an incremental fashion. The company is able to leverage the huge volume of data it has accumulated from its over 220 million enrollments to personalize content. So, for example, Coursera’s Skills Graphs can suggest paths for job skills.</p><p>Coursera uses technology to drive down distribution costs, make content more affordable, extend access to less economically-endowed regions, help learners keep abreast of emerging skills, and grow its market opportunity. The Covid-19 pandemic has only accelerated secular trends towards the use of technology in education.</p><p>The size of the addressable market is massive and it’s easy to see why.An August 2020 study by the United Nationsdemonstrates the degree of disruption brought on by the Covid-19 pandemic: of the 1.6 billion students in 190 countries covered in the report, or 94% of the world’s students, were prevented from going to school because of Covid-19 pandemic related school closures.</p><p>In 2017, the World Bank indicated thatof the 200 million college students in the world, many do not have job-specific skills.</p><p>The Covid-19 pandemic and prior secular trends suggest that the future of education is in blended classrooms, job-specific education and continuous, lifelong education. Online learning platforms like Coursera will be the primary means through which educational content is delivered.</p><p>Globally, spending on higher education in 2019 was $2.2 trillion,according to HolonIQ. Spending on online degrees was $36 billion and is predicted to reach $74 billion by 2025.</p><p>With a huge, existing learner base; a strong brand; and the significant advantages detailed above, Coursera is likely to grab a significant amount of the market’s growth. Of thescenarios for the future of education, it seems that Coursera will continue to grow.</p><p>Risks</p><p>Coursera's S-1 lists several potential risks that investors should be aware of. However, I believe some are more noteworthy than others and Coursera may have missed some key risks.</p><p>Competition, for one, is something the team could have elaborated on further. Coursera is far from the only online education provider. In fact, many of its rivals including Skillshare, Gumroad, Khan Academy and Udemy have more recognizable brands.</p><p>Khan Academy is particularly noteworthy because many of the courses it offers are free. That, in my opinion, is another key risk for Coursera and perhaps the entire EdTech space. While higher education is a luxury service in North America, it's free in places like Germany. Much of the world would prefer a low-cost or free model to develop talent and plug the skills gap. College in India, for instance, costs$5,000 a year on average. Coursera isn't profitable at its current average pricing of $9,000 to $25,000 per degree course. Lower costs in the rest of the world could make profitability a bigger challenge.</p><p>Coursera could potentially overcome these challenges by recruiting lower-cost education providers in emerging markets, convincing students to pay a premium and differentiating its courses by partnering with elite universities and recruitment channels.</p><p><b>Conclusion</b></p><p>Coursera seems poised to meet the challenges of a changing education landscape. With its vast, existing user base, its flywheel model, its competitive advantages, and its existence in a huge and growing addressable market, the company is likely to do very well. The company’s value proposition is compelling. However, long run success does not equate to a good investment in the short run. An unprofitable company like Coursera is likely to be very volatile on the markets until it reaches profitability. It is better to wait for Coursera to turn a profit before investing in the company.</p>","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>Coursera opens for trading at $40, up 21.21% from IPO price</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\">\nCoursera opens for trading at $40, up 21.21% from IPO price\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-01 00:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3677898-online-learning-platform-coursera-seeks-to-raise-484m-in-ipo><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(March 31) Coursera opens for trading at $40, up 21.21% from IPO price. Coursera prices IPO at $33, for valuation of $4.3 billion.Coursera has priced an IPO of 15.73M shares of its common stock at $...</p>\n\n<a href=\"https://seekingalpha.com/news/3677898-online-learning-platform-coursera-seeks-to-raise-484m-in-ipo\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5220d573a8af31c0f611dafd93d5f72a","relate_stocks":{"COUR":"Coursera, Inc."},"source_url":"https://seekingalpha.com/news/3677898-online-learning-platform-coursera-seeks-to-raise-484m-in-ipo","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1127322570","content_text":"(March 31) Coursera opens for trading at $40, up 21.21% from IPO price. Coursera prices IPO at $33, for valuation of $4.3 billion.Coursera has priced an IPO of 15.73M shares of its common stock at $33.00/share, including ~14.7M shares to beissued and sold by Coursera and ~1.1M by the selling stockholders.Expected gross proceeds are $483.9M.Trading kicks off March 31.Underwriters' over-allotment is an additional ~2.4M shares.Coursera will not receive any proceeds from shares sale by selling stockholders.Morgan Stanley and Goldman Sachs are acting as lead book-running managers.Closing date is April 5.Online learning giant Coursera has 77M registered learners. It partners with over 200 universities and industry partners to offer a broad catalog of content and credentials.SuRo Capital, a business development company, holds a massive stake in the company.In 2020, Coursera generated $293.5M in revenue, up from $184.4M in 2019. Launched in 2012 by Stanford University computer science professors Daphne Koller and Andrew Ng, Coursera is one of many massive open online course (MOOC) providers that have emerged since the dawn of the Internet. What sets Coursera apart is its symbiotic relationship with established universities. Instead of trying to disrupt the higher education industry, Coursera is attempting to work with them to reimagine what higher education and professional courses should look like in a digital world.That strategy seems to be working. Coursera has more than77 million students, more than most of its rivals. The company’sCoursera for Campusattracted 4,000 tertiary institutions from across the world. At the end of 2020, 130 of these institutions were premium subscribers. 2,000 businesses (including 25% of Fortune 500 companies) and 100 government agencies are alsopaying for Coursera’s enterprise offerings.Unsurprisingly, that traction is reflected on the top line. In 2020, Coursera generated $293 million in revenue, up 59% from the previous year. Year-on-year user growth came in at 65%. However, the company extended free courses and features throughout the pandemic to gin up traffic. That led to higher costs and a loss of $66.8 million in 2020, up from $46.7 million in 2019. Free cash flow was -$26.9 million over the course of the year.Coursera doesn’t expect to become cash flow positive or profitable anytime soon. In fact, theS-1 clearly statesthat the company “had an accumulated deficit of $343.6 million as of December 31, 2020,” and that they anticipate that the company “will continue to incur losses for the foreseeable future.”The reopening is another risk. With students heading back to the campus this fall, it’s difficult to say if Coursera can sustain last year’s momentum and keep students and universities engaged on its platform.Coursera product tiersNevertheless, the company’s partnerships with government agencies, library of content from top universities, enterprise training products and micro-certification courses could help it bolster growth over time. Online learning already was a rapidly-growing market pre-pandemic. Some estimates suggest the marketcould be worth $350 billionby 2025. Coursera was last valued at $2.5 billion.It could be worth a lot more when the IPO is completed. One early investor is certainly expecting a windfall: SuRo Capital(NASDAQ:SSSS).Operating ResultsThe company earned $293 million in revenues for the fiscal year ended December 31, 2020, up 59% from 2019. Net losses widened by about $20 million year-on-year, reaching $66.8 million in 2020. Revenues shot up as a result of the Covid-19 pandemic’s effect on traditional education. In tandem with rising demand, operating costs associated with the company’s services rose, largely driven by the freemium content and marketing expenses. Coursera added over 12,000 new degree learners across the two years ended December 31, 2020 at an average acquisition cost of just below $2,000. The number of registered users rose by 65% year-on-year in 2020. Coursera’s accumulated deficit since its founding stood at $343.6 million as of December 31, 2020. The company does not expect to turn a profit in the foreseeable future.The company’sCoursera for Campus,launched in late 2019to enable colleges to offer its library of MOOCs to their students, has been a key driver of recent revenue growth. At the start of the pandemic, Coursera made the program free to tertiary institutions until Sept. 30, 2020. Over 4,000 tertiary institutions from across the world signed up for the program, which, according to the company’s S-1 filing, makes it, “one of our fastest growing offerings”. As of December 31, 2020, over 130 tertiary institutions were paying for it.At this point, it is hard to predict what the end of the pandemic would have on the company’s operating results.SuRo Capital - Coursera’s ProxySan Francisco-based SuRo Capital is a business development company focused on tech startups and innovative private companies. SuRo’s portfolio is heavily concentrated in preferred shares of noteworthy tech startups such asCourseHero,Rent the Runway,Nextdoor,Blink HealthandForge Global.The largest and most noteworthy position in their portfolio is a $94 million stake in Palantir Technologies(NYSE:PLTR). In fact, my first article on the company was publishedjust before Palantir’s IPO. Over the past 12 months, the stock is up 281%, which means it outperformed the most talked about tech ETF of the year - Ark Innovation ETF(NYSEARCA:ARKK).Now, Palantir accounts for 31.4% of SuRo’s portfolio. Coursera is the second-largest holding. Accounting for 17.6% of the portfolio, SuRo reported the fair value of its stake at $53.2 million recently. It’s worth noting that SuRo holds this stake in preferred shares paying out 8% a year in dividends. These preferred shares should be worth a lot more when the company lists publicly. Analysts estimate Coursera could be worth as much as$5 billion, which is roughly double its valuation from 2020.At that price, Coursera would become SuRo’s largest holding, adding roughly $50 million to the company’s book value.Altogether,SuRo’s portfolio is worth $430 million. Meanwhile, the company’s market capitalization is $274 million. If the Coursera IPO is as successful as some of the other major tech IPOs we’ve witnessed this year, this discount to fair value could broaden further.The Strategy and Market OpportunityCoursera is one of the most disruptive firms in the world. It has a flywheel approach to value creation, with significant price-to-cost advantages versus its competition. The company reported that about half of its new degree students in 2020 had been previously registered with Coursera and that its average student acquisition cost was less than $2,000. Its average student acquisition cost is lower than the industry standard. The edu-tech platform is able to efficiently acquire learners at scale because of the huge number of free, high-quality courses that it offers in partnership with top educational institutions and corporations; its ability to personalize content based on its wealth of data; the strength of word-of-mouth promotion by learners; the profitability of its affiliate paid marketing channel.The platform offers a number of education tracks, for example:Specializations: A learner can pay between $39 and $99 a month for job-specific content across over 500 categories.MasterTrack Certificates: For a quarter to a year, a learner can earn a certificate issued by a university-issued certificate. Prices range from $2,000 to $6,000.Bachelor’s or Master’s Degrees: Fees range from $9,000 to $45,000.Coursera for Enterprise: Through this platform, businesses, educational institutions and governments can deploy content to their learners.In response to the Covid-19 pandemic, Coursera partnered with over 330 government agencies across 30 U.S. states and cities and 70 countries as part of itsCoursera Workforce Recovery Initiative, which gave governments the chance to offer unemployed workers free access to thousands of business, data science, and technology courses from companies such as Amazon(NASDAQ:AMZN)and Google(NASDAQ:GOOG)(NASDAQ:GOOGL).The company has 77 million registered learners, as well as over 2,000 businesses (including 25% of Fortune 500 companies) and 100 government agencies who paid for its enterprise offerings. The majority of its revenue (51%) was earned outside of the United States. Converting only a fraction of its 77 million registered users into paid users would change the economics of customer acquisition. The company’s present scale is a huge competitive advantage in the market.A learner’s curriculum is designed to be “stackable”, which is to say that a learner can go through a domain in an incremental fashion. The company is able to leverage the huge volume of data it has accumulated from its over 220 million enrollments to personalize content. So, for example, Coursera’s Skills Graphs can suggest paths for job skills.Coursera uses technology to drive down distribution costs, make content more affordable, extend access to less economically-endowed regions, help learners keep abreast of emerging skills, and grow its market opportunity. The Covid-19 pandemic has only accelerated secular trends towards the use of technology in education.The size of the addressable market is massive and it’s easy to see why.An August 2020 study by the United Nationsdemonstrates the degree of disruption brought on by the Covid-19 pandemic: of the 1.6 billion students in 190 countries covered in the report, or 94% of the world’s students, were prevented from going to school because of Covid-19 pandemic related school closures.In 2017, the World Bank indicated thatof the 200 million college students in the world, many do not have job-specific skills.The Covid-19 pandemic and prior secular trends suggest that the future of education is in blended classrooms, job-specific education and continuous, lifelong education. Online learning platforms like Coursera will be the primary means through which educational content is delivered.Globally, spending on higher education in 2019 was $2.2 trillion,according to HolonIQ. Spending on online degrees was $36 billion and is predicted to reach $74 billion by 2025.With a huge, existing learner base; a strong brand; and the significant advantages detailed above, Coursera is likely to grab a significant amount of the market’s growth. Of thescenarios for the future of education, it seems that Coursera will continue to grow.RisksCoursera's S-1 lists several potential risks that investors should be aware of. However, I believe some are more noteworthy than others and Coursera may have missed some key risks.Competition, for one, is something the team could have elaborated on further. Coursera is far from the only online education provider. In fact, many of its rivals including Skillshare, Gumroad, Khan Academy and Udemy have more recognizable brands.Khan Academy is particularly noteworthy because many of the courses it offers are free. That, in my opinion, is another key risk for Coursera and perhaps the entire EdTech space. While higher education is a luxury service in North America, it's free in places like Germany. Much of the world would prefer a low-cost or free model to develop talent and plug the skills gap. College in India, for instance, costs$5,000 a year on average. Coursera isn't profitable at its current average pricing of $9,000 to $25,000 per degree course. Lower costs in the rest of the world could make profitability a bigger challenge.Coursera could potentially overcome these challenges by recruiting lower-cost education providers in emerging markets, convincing students to pay a premium and differentiating its courses by partnering with elite universities and recruitment channels.ConclusionCoursera seems poised to meet the challenges of a changing education landscape. With its vast, existing user base, its flywheel model, its competitive advantages, and its existence in a huge and growing addressable market, the company is likely to do very well. The company’s value proposition is compelling. However, long run success does not equate to a good investment in the short run. An unprofitable company like Coursera is likely to be very volatile on the markets until it reaches profitability. It is better to wait for Coursera to turn a profit before investing in the company.","news_type":1},"isVote":1,"tweetType":1,"viewCount":556,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355506046,"gmtCreate":1617080870685,"gmtModify":1704801708009,"author":{"id":"3568079581270090","authorId":"3568079581270090","name":"rippz","avatar":"https://static.tigerbbs.com/5de4d3155c456d7b67b3d746b35aeccc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568079581270090","idStr":"3568079581270090"},"themes":[],"htmlText":"Madness","listText":"Madness","text":"Madness","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/355506046","repostId":"2123126131","repostType":4,"repost":{"id":"2123126131","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":1617074537,"share":"https://ttm.financial/m/news/2123126131?lang=&edition=fundamental","pubTime":"2021-03-30 11:22","market":"sg","language":"en","title":"Singapore Hin Leong founder O.K. Lim faces another 23 forgery-related charges - prosecutor","url":"https://stock-news.laohu8.com/highlight/detail?id=2123126131","media":"Reuters","summary":"SINGAPORE, March 30 (Reuters) - Lim Oon Kuin, the founder of collapsed oil trading firm Hin Leong Tr","content":"<p>SINGAPORE, March 30 (Reuters) - Lim Oon Kuin, the founder of collapsed oil trading firm Hin Leong Trading Pte Ltd, is expected to face another 23 charges of forgery-related offences soon, Singapore's prosecution said.</p>\n<p>The 23 charges are expected to be tendered on April 8, Deputy Public Prosecutor Navin Naidu told a Singapore court on Monday.</p>\n<p>The Singapore Attorney-General's Chambers confirmed the prosecutor's comments.</p>\n<p>The Lim family's legal advisers, Davinder Singh Chambers LLC, did not immediately respond to an emailed request for comment.</p>\n<p>Last year, Singapore police charged the 78-year-old former oil tycoon, better known as O.K. Lim, with two counts of abetment of forgery for the purpose of cheating.</p>\n<p>Owned by O.K. Lim and his children, Hin Leong was set up in 1973 and was once <a href=\"https://laohu8.com/S/AONE\">one</a> of Asia's top oil traders. It racked up some $4 billion in debt after a crash in oil prices last year exposed years of losses and alleged fraud by the Lim family.</p>\n<p>Accounting firm PwC, which was appointed Hin Leong's judicial manager by the court, said in a report last year the company had overstated the value of its assets by at least $3 billion.</p>\n<p>Hin Leong entered court restructuring last year and was wound up in March.</p>\n<p>(Reporting by Aradhana Aravindan; Writing by Florence Tan; Editing by Lincoln Feast.)</p>\n<p>((Florence.Tan@thomsonreuters.com; Reuters Messaging: florence.tan.thomsonreuters.com@reuters.net))</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>Singapore Hin Leong founder O.K. Lim faces another 23 forgery-related charges - prosecutor</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\">\nSingapore Hin Leong founder O.K. Lim faces another 23 forgery-related charges - prosecutor\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\">2021-03-30 11:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>SINGAPORE, March 30 (Reuters) - Lim Oon Kuin, the founder of collapsed oil trading firm Hin Leong Trading Pte Ltd, is expected to face another 23 charges of forgery-related offences soon, Singapore's prosecution said.</p>\n<p>The 23 charges are expected to be tendered on April 8, Deputy Public Prosecutor Navin Naidu told a Singapore court on Monday.</p>\n<p>The Singapore Attorney-General's Chambers confirmed the prosecutor's comments.</p>\n<p>The Lim family's legal advisers, Davinder Singh Chambers LLC, did not immediately respond to an emailed request for comment.</p>\n<p>Last year, Singapore police charged the 78-year-old former oil tycoon, better known as O.K. Lim, with two counts of abetment of forgery for the purpose of cheating.</p>\n<p>Owned by O.K. Lim and his children, Hin Leong was set up in 1973 and was once <a href=\"https://laohu8.com/S/AONE\">one</a> of Asia's top oil traders. It racked up some $4 billion in debt after a crash in oil prices last year exposed years of losses and alleged fraud by the Lim family.</p>\n<p>Accounting firm PwC, which was appointed Hin Leong's judicial manager by the court, said in a report last year the company had overstated the value of its assets by at least $3 billion.</p>\n<p>Hin Leong entered court restructuring last year and was wound up in March.</p>\n<p>(Reporting by Aradhana Aravindan; Writing by Florence Tan; Editing by Lincoln Feast.)</p>\n<p>((Florence.Tan@thomsonreuters.com; Reuters Messaging: florence.tan.thomsonreuters.com@reuters.net))</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a2b8c3b51114fd73abb93d39ddbf6e91","relate_stocks":{"DUG":"二倍做空石油与天然气ETF(ProShares)","SCO":"二倍做空彭博原油指数ETF","DWT":"三倍做空原油ETN","USO":"美国原油ETF","DDG":"ProShares做空石油与天然气ETF","UCO":"二倍做多彭博原油ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2123126131","content_text":"SINGAPORE, March 30 (Reuters) - Lim Oon Kuin, the founder of collapsed oil trading firm Hin Leong Trading Pte Ltd, is expected to face another 23 charges of forgery-related offences soon, Singapore's prosecution said.\nThe 23 charges are expected to be tendered on April 8, Deputy Public Prosecutor Navin Naidu told a Singapore court on Monday.\nThe Singapore Attorney-General's Chambers confirmed the prosecutor's comments.\nThe Lim family's legal advisers, Davinder Singh Chambers LLC, did not immediately respond to an emailed request for comment.\nLast year, Singapore police charged the 78-year-old former oil tycoon, better known as O.K. Lim, with two counts of abetment of forgery for the purpose of cheating.\nOwned by O.K. Lim and his children, Hin Leong was set up in 1973 and was once one of Asia's top oil traders. It racked up some $4 billion in debt after a crash in oil prices last year exposed years of losses and alleged fraud by the Lim family.\nAccounting firm PwC, which was appointed Hin Leong's judicial manager by the court, said in a report last year the company had overstated the value of its assets by at least $3 billion.\nHin Leong entered court restructuring last year and was wound up in March.\n(Reporting by Aradhana Aravindan; Writing by Florence Tan; Editing by Lincoln Feast.)\n((Florence.Tan@thomsonreuters.com; Reuters Messaging: florence.tan.thomsonreuters.com@reuters.net))","news_type":1},"isVote":1,"tweetType":1,"viewCount":467,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328493746,"gmtCreate":1615546940285,"gmtModify":1704784387196,"author":{"id":"3568079581270090","authorId":"3568079581270090","name":"rippz","avatar":"https://static.tigerbbs.com/5de4d3155c456d7b67b3d746b35aeccc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568079581270090","idStr":"3568079581270090"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/328493746","repostId":"1155506399","repostType":4,"isVote":1,"tweetType":1,"viewCount":304,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340541946,"gmtCreate":1617439766385,"gmtModify":1704699716923,"author":{"id":"3568079581270090","authorId":"3568079581270090","name":"rippz","avatar":"https://static.tigerbbs.com/5de4d3155c456d7b67b3d746b35aeccc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568079581270090","idStr":"3568079581270090"},"themes":[],"htmlText":"Good stuff","listText":"Good stuff","text":"Good stuff","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/340541946","repostId":"2124875875","repostType":4,"repost":{"id":"2124875875","pubTimestamp":1617366960,"share":"https://ttm.financial/m/news/2124875875?lang=&edition=fundamental","pubTime":"2021-04-02 20:36","market":"us","language":"en","title":"Tesla Q1 2021 Vehicle Production & Deliveries","url":"https://stock-news.laohu8.com/highlight/detail?id=2124875875","media":"StreetInsider","summary":"PALO ALTO, Calif., April 02, 2021  -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.Forward-Looking Statements Statements herein regarding the timin","content":"<p>PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.</p>\n<table>\n <tbody>\n  <tr>\n   <td></td>\n   <td><b>Production</b></td>\n   <td><b>Deliveries</b></td>\n   <td><b>Subject to operating lease accounting</b></td>\n  </tr>\n  <tr>\n   <td>Model S/X</td>\n   <td>-</td>\n   <td>2,020</td>\n   <td>6%</td>\n  </tr>\n  <tr>\n   <td>Model 3/Y</td>\n   <td>180,338</td>\n   <td>182,780</td>\n   <td>7%</td>\n  </tr>\n  <tr>\n   <td><b>Total</b></td>\n   <td><b>180,338</b></td>\n   <td><b>184,800</b></td>\n   <td><b>7%</b></td>\n  </tr>\n </tbody>\n</table>\n<p>***************</p>\n<p>Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only <a href=\"https://laohu8.com/S/AONE\">one</a> measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.</p>\n<p><b>Forward-Looking Statements</b>&nbsp;Statements herein regarding the timing and future progress of our vehicle production ramp are “forward-looking statements” based on management’s current expectations and that are subject to risks and uncertainties. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.</p>\n<p><img src=\"https://static.tigerbbs.com/db04c7b378cb2db912c3ba8a5a774ee3\" tg-width=\"1\" tg-height=\"1\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/c2196de8ba412c60c22ab491af7b1409\" tg-width=\"1\" tg-height=\"1\" referrerpolicy=\"no-referrer\"></p>","source":"highlight_streetinsider","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 Q1 2021 Vehicle Production & Deliveries</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 Q1 2021 Vehicle Production & Deliveries\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 20:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=18215929><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=18215929\">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.streetinsider.com/dr/news.php?id=18215929","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2124875875","content_text":"PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.\n\n\n\n\nProduction\nDeliveries\nSubject to operating lease accounting\n\n\nModel S/X\n-\n2,020\n6%\n\n\nModel 3/Y\n180,338\n182,780\n7%\n\n\nTotal\n180,338\n184,800\n7%\n\n\n\n***************\nOur net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.\nForward-Looking Statements Statements herein regarding the timing and future progress of our vehicle production ramp are “forward-looking statements” based on management’s current expectations and that are subject to risks and uncertainties. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.","news_type":1},"isVote":1,"tweetType":1,"viewCount":254,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355920775,"gmtCreate":1617025161897,"gmtModify":1704800988066,"author":{"id":"3568079581270090","authorId":"3568079581270090","name":"rippz","avatar":"https://static.tigerbbs.com/5de4d3155c456d7b67b3d746b35aeccc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568079581270090","idStr":"3568079581270090"},"themes":[],"htmlText":"Red incoming","listText":"Red incoming","text":"Red incoming","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/355920775","repostId":"2123535672","repostType":4,"isVote":1,"tweetType":1,"viewCount":211,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355506877,"gmtCreate":1617080905499,"gmtModify":1704801708658,"author":{"id":"3568079581270090","authorId":"3568079581270090","name":"rippz","avatar":"https://static.tigerbbs.com/5de4d3155c456d7b67b3d746b35aeccc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3568079581270090","idStr":"3568079581270090"},"themes":[],"htmlText":"Madness&nbsp; &nbsp;&nbsp;","listText":"Madness&nbsp; &nbsp;&nbsp;","text":"Madness","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/355506877","repostId":"1112608299","repostType":4,"repost":{"id":"1112608299","pubTimestamp":1617073562,"share":"https://ttm.financial/m/news/1112608299?lang=&edition=fundamental","pubTime":"2021-03-30 11:06","market":"us","language":"en","title":"Billions in Secret Derivatives at Center of Archegos Blowup","url":"https://stock-news.laohu8.com/highlight/detail?id=1112608299","media":"Bloomberg","summary":"(Bloomberg) -- The forced liquidation of more than $20 billion in holdings linked to Bill Hwang’s in","content":"<p>(Bloomberg) -- The forced liquidation of more than $20 billion in holdings linked to Bill Hwang’s investment firm is drawing attention to the covert financial instruments he used to build large stakes in companies.</p>\n<p>Much of the leverage used by Hwang’s Archegos Capital Management was provided by banks including Nomura Holdings Inc. and Credit Suisse Group AG through swaps or so-called contracts-for-difference, according to people with direct knowledge of the deals. It means Archegos may never actually have owned most of the underlying securities -- if any at all.</p>\n<p>While investors who own a stake of more than 5% in a U.S.-listed company usually have to disclose their holdings and subsequent transactions, that’s not the case with positions built through the type of derivatives apparently used by Archegos. The products, which are transacted off exchanges, allow managers like Hwang to amass exposure to publicly-traded companies without having to declare it.</p>\n<p>The swift unwinding of Archegos has reverberated across the globe, after banks such as Goldman Sachs Group Inc. and Morgan Stanley forced Hwang’s firm to sell billions of dollars in investments accumulated through highly leveraged bets. The selloff roiled stocks from Baidu Inc. to ViacomCBS Inc., and prompted Nomura and Credit Suisse to disclose that they face potentially significant losses on their exposure.</p>\n<p>One reason for the widening fallout is the borrowed funds that investors use to magnify their bets: a margin call occurs when the market goes against a large, leveraged position, forcing the hedge fund to deposit more cash or securities with its broker to cover any losses. Archegos was probably required to deposit only a small percentage of the total value of trades.</p>\n<p>The chain of events set off by this massive unwinding is yet another reminder of the role that hedge funds play in the global capital markets. A hedge fund short squeeze during a Reddit-fueled frenzy for Gamestop Corp. shares earlier this year spurred a $6 billion loss for Gabe Plotkin’s Melvin Capital and sparked scrutiny from U.S. regulators and politicians.</p>\n<p>The idea that one firm can quietly amass outsized positions through the use of derivatives could set off another wave of criticism directed against loosely regulated firms that have the power to destabilize markets.</p>\n<p>While the margin calls on Friday triggered losses of as much as 40% in some shares, there was no sign of contagion in markets broadly on Monday. Contrast that with 2008, when Ireland’s then-richest man used derivatives to build a position so large in Anglo Irish Bank Corp. it eventually contributed to the country’s international bailout. In 2015, New York-based FXCM Inc. needed rescuing because of losses at its U.K. affiliate resulting from the unexpected de-pegging of the Swiss franc.</p>\n<p>Much about Hwang’s trades remains unclear, but market participants estimate his assets had grown to anywhere from $5 billion to $10 billion in recent years and total positions may have topped $50 billion.</p>\n<p>“This is a challenging time for the family office of Archegos Capital Management, our partners and employees,” Karen Kessler, a spokesperson for Archegos, said late Monday in an emailed statement. “All plans are being discussed as Mr. Hwang and the team determine the best path forward.”</p>\n<p>CFDs and swaps are among bespoke derivatives that investors trade privately between themselves, or over-the-counter, instead of through public exchanges. Such opacity helped to worsen the 2008 financial crisis and regulators have introduced a vast new body of rules governing the assets since then.</p>\n<p>Over-the-counter equity derivatives occupy one of the smallest corners of this opaque market. Swaps and forwards linked to stocks had a gross market value of $282 billion at the end of June 2020, according to data from the Bank for International Settlements. That compared with $10.3 trillion for swaps linked to interest rates and $2.4 trillion for swaps and forwards linked to currencies.</p>\n<p>Regulators have begun clamping down on CFDs in recent years because they’re concerned the derivatives are too complex and too risky for retail investors, with the European Securities and Markets Authority in 2018 restricting the distribution to individuals and capping leverage. In the U.S., CFDs are largely banned for amateur traders.</p>\n<p>Banks still favor them because they can make a large profit without needing to set aside as much capital versus trading actual securities, another consequence of regulation imposed in the aftermath of the global financial crisis. Among hedge funds, equity swaps and CFDs grew in popularity because they are exempt from stamp duty in high-tax jurisdictions such as the U.K.</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>Billions in Secret Derivatives at Center of Archegos Blowup</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\">\nBillions in Secret Derivatives at Center of Archegos Blowup\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-30 11:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/billions-secretive-derivatives-center-archegos-102415242.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- The forced liquidation of more than $20 billion in holdings linked to Bill Hwang’s investment firm is drawing attention to the covert financial instruments he used to build large stakes...</p>\n\n<a href=\"https://finance.yahoo.com/news/billions-secretive-derivatives-center-archegos-102415242.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/aab667b22ddd84f63ad2db656e8a0d4f","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/billions-secretive-derivatives-center-archegos-102415242.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112608299","content_text":"(Bloomberg) -- The forced liquidation of more than $20 billion in holdings linked to Bill Hwang’s investment firm is drawing attention to the covert financial instruments he used to build large stakes in companies.\nMuch of the leverage used by Hwang’s Archegos Capital Management was provided by banks including Nomura Holdings Inc. and Credit Suisse Group AG through swaps or so-called contracts-for-difference, according to people with direct knowledge of the deals. It means Archegos may never actually have owned most of the underlying securities -- if any at all.\nWhile investors who own a stake of more than 5% in a U.S.-listed company usually have to disclose their holdings and subsequent transactions, that’s not the case with positions built through the type of derivatives apparently used by Archegos. The products, which are transacted off exchanges, allow managers like Hwang to amass exposure to publicly-traded companies without having to declare it.\nThe swift unwinding of Archegos has reverberated across the globe, after banks such as Goldman Sachs Group Inc. and Morgan Stanley forced Hwang’s firm to sell billions of dollars in investments accumulated through highly leveraged bets. The selloff roiled stocks from Baidu Inc. to ViacomCBS Inc., and prompted Nomura and Credit Suisse to disclose that they face potentially significant losses on their exposure.\nOne reason for the widening fallout is the borrowed funds that investors use to magnify their bets: a margin call occurs when the market goes against a large, leveraged position, forcing the hedge fund to deposit more cash or securities with its broker to cover any losses. Archegos was probably required to deposit only a small percentage of the total value of trades.\nThe chain of events set off by this massive unwinding is yet another reminder of the role that hedge funds play in the global capital markets. A hedge fund short squeeze during a Reddit-fueled frenzy for Gamestop Corp. shares earlier this year spurred a $6 billion loss for Gabe Plotkin’s Melvin Capital and sparked scrutiny from U.S. regulators and politicians.\nThe idea that one firm can quietly amass outsized positions through the use of derivatives could set off another wave of criticism directed against loosely regulated firms that have the power to destabilize markets.\nWhile the margin calls on Friday triggered losses of as much as 40% in some shares, there was no sign of contagion in markets broadly on Monday. Contrast that with 2008, when Ireland’s then-richest man used derivatives to build a position so large in Anglo Irish Bank Corp. it eventually contributed to the country’s international bailout. In 2015, New York-based FXCM Inc. needed rescuing because of losses at its U.K. affiliate resulting from the unexpected de-pegging of the Swiss franc.\nMuch about Hwang’s trades remains unclear, but market participants estimate his assets had grown to anywhere from $5 billion to $10 billion in recent years and total positions may have topped $50 billion.\n“This is a challenging time for the family office of Archegos Capital Management, our partners and employees,” Karen Kessler, a spokesperson for Archegos, said late Monday in an emailed statement. “All plans are being discussed as Mr. Hwang and the team determine the best path forward.”\nCFDs and swaps are among bespoke derivatives that investors trade privately between themselves, or over-the-counter, instead of through public exchanges. Such opacity helped to worsen the 2008 financial crisis and regulators have introduced a vast new body of rules governing the assets since then.\nOver-the-counter equity derivatives occupy one of the smallest corners of this opaque market. Swaps and forwards linked to stocks had a gross market value of $282 billion at the end of June 2020, according to data from the Bank for International Settlements. That compared with $10.3 trillion for swaps linked to interest rates and $2.4 trillion for swaps and forwards linked to currencies.\nRegulators have begun clamping down on CFDs in recent years because they’re concerned the derivatives are too complex and too risky for retail investors, with the European Securities and Markets Authority in 2018 restricting the distribution to individuals and capping leverage. In the U.S., CFDs are largely banned for amateur traders.\nBanks still favor them because they can make a large profit without needing to set aside as much capital versus trading actual securities, another consequence of regulation imposed in the aftermath of the global financial crisis. Among hedge funds, equity swaps and CFDs grew in popularity because they are exempt from stamp duty in high-tax jurisdictions such as the U.K.","news_type":1},"isVote":1,"tweetType":1,"viewCount":239,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}