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2021-03-31

Pretty

Small-cap value stocks still look cheap even after big rally, two fund managers say

2021-03-26

Let’s be patient for EVs in China, huge potential!

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2021-03-24

News like this makes you wonder....

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2021-03-19

Aim for long term gains

Nio Stock Is Poised For Growth In 2021

2021-03-19

Buy it

China’s Tuya Is Poised to Raise $915 Million in U.S. IPO

2021-03-18

Just wow

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2021-03-18

Very very interesting

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Go to Tiger App to see more news

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But the value rally may still be at an early stage, according to two fund managers from different companies who hold small-cap and mid-cap stocks.</p><p>Justin Tugman of Janus Henderson Investors and Christian Stadlinger of Columbia Threadneedle Investments both made the case that the value rally will continue, especially for small-cap and mid-cap companies. The two mutual fund managers highlighted stocks that, they say, remain attractively priced.</p><p>At the bottom of this article are tables and charts showing how small- and mid-cap value stocks' price-to-earnings ratios haven't risen as much as those of the broad S&amp;P indexes and their growth subsets.</p><p>Tugman co-manages the Janus Henderson Small Cap Value Fund  with Craig Kempler, and also co-manages the Janus Henderson Mid Cap Value Fund  with Kevin Preloger. The Small Cap Value Fund is rated four stars (out of five) by Morningstar, while the Mid Cap Value Fund has a three-star rating.</p><p>When discussing the broad market rally since the pandemic bottom in March 2020, Tugman said the unprecedented monetary and  fiscal stimulus has pushed some investors to suspend \"any common sense when it comes to valuation metrics.\"</p><p>Following a long period during which growth stocks outperformed value, he believes investors' expectations for a rapidly growing U.S. economy and rising interest rates will continue to bode well for value stocks. He pointed out that periods of outperformance for value stocks have historically stretched over several years.</p><p>Tugman said he and his colleagues tend to be \"risk-averse.\" When selecting new stocks for the portfolios they manage, they first consider downside risk, then focus on upside potential and come up with a risk/reward ratio. They steer clear of highly leveraged or unprofitable companies and those facing \"binary events,\" such as biotechnology developers holding trials.</p><p>Tugman named three value stocks he believes are attractive today:</p><ul><li>Citizens Financial Group Inc. CFG of Providence, R.I., is a regional bank with $183 billion in assets and about 1,000 branches in 11 states. Tugman called the stock’s valuation “attractive at roughly 11 times estimated 2021 earnings.” He said the bank’s credit quality was strong and that it was well positioned to benefit from the steepening yield curve. Citizens is one of the largest holdings of the Janus Henderson Mid Cap Value Fund.</li><li>United Community Banks Inc. UCBI is a holding of the Janus Henderson Small Cap Value Fund. It is based in Blairsville, Ga., has $17.8 billion in total assets, with branches in five states. The stock has a forward P/E ratio of 14.8, which is on the high side for a bank. “We do not think [that valuation is] egregious for a bank growing like they are,” Tugman said. He expects UCBI to continue growing its loan portfolio in the high single digits, which is an impressive organic growth rate for any bank.</li><li>Another small-cap holding is Sunstone Hotel Investors Inc. SHO, which is a real-estate investment trust that owns hotel buildings and leases them to operators licensed by Marriott, Hilton and other well-known brands. Tugman said hotel closures during the pandemic had caused a “cash burn,” but that Sunstone’s balance sheet was still healthy. With the industry beginning to reopen, he believes “SHO sets up well for the long term.”</li></ul><p>Stadlinger is the lead manager for the Columbia Small Cap Value Fund II , and has been involved with the fund's management since 2002. Jarl Ginsberg co-manages the fund, which is rated four stars by Morningstar.</p><p>During an interview, Stadlinger said that through 2019, small-cap growth stocks had been outperforming value for 10 years, because \"when growth is scarce, the market pays up more for growth.\" HE was referring to slow GDP growth in the U.S. But now economists polled by MarketWatch expect a 6% GDP growth rate for 2021.</p><p>\"[T]here will be a whole lot more money being spent. When that happens, value stocks have historically outperformed,\" he said.</p><p>The Columbia Small Cap Value Fund II holds about 100 stocks. Stadlinger said he and Ginsberg select value stocks they believe will turn into growth stocks as the companies' earnings improve. \"That's  how you get returns,\" he said.</p><p>Companies held by the fund that Stadlinger expects to switch to growth from value include Sunstone Hotel Investors, which is also held by Janus Henderson and described above. \"All the indicators are positive\" for the company as the industry reopens at full strength, he said.</p><p>Four more companies mentioned by Stadlinger:</p><ul><li>Herc Holdings Inc. HRI rents construction and earth-moving equipment. With the economy improving, “utilization is picking up quite a bit,” Stadlinger said. The company is based in Florida and mainly operates in southern states, where commercial and residential construction activity is strong. And Stadlinger believes a large round of federal infrastructure spending is “doable.”</li><li>Marriott Vacations Worldwide Corp. VAC is a timeshare operator. This is an industry whose business model has changed, at least for such a large player. If you own a timeshare with Marriott Vacations, you earn points that can be used to make exchanges with other timeshare properties operated by the company. Stadlinger said that unlike hotel operators, timeshare companies have continued to collect maintenance fees from most customers during the pandemic. So they have been undervalued. And now, as the travel industry reopens, various other revenue streams are resuming, including restaurant and pool fees, he said.</li><li>Atlantic Union Bankshares Corp. AUB is based in Richmond, Va., and has $19.6 billion in assets and 129 branches in three states. Stadllinger described AUB as the “largest independent bank left” in Virginia, with “very strong management” and good prospects for loan growth as the economy improves. He also believes the bank is a takeout target for J.P. Morgan Chase &amp; Co. JPM or Bank of America Corp. BAC if they wish to have an expanded presence in the state.</li><li>Ultra Clean Holdings Inc. UCTT makes chemicals and equipment used by semiconductor manufacturers. The stock trades for 15.9 times the consensus earnings estimate among analysts polled by FactSet. Stadlinger called UCTT “cheap” because of the growth prospects in its industry. The chip-making business is booming.</li></ul><p><b>Value vs growth</b></p><p>The broad stock market indexes are broken into overlapping value and growth groups. The value groups are larger, and the companies in them tend to have lower price-to-earnings and price-to-book ratios, as well as lower sales growth rates. The growth groups tend to have higher price valuations and higher growth rates. The companies in both camps show characteristics of both, or at least did the last time the indexes were rebalanced, which happens annually.</p><p>Here are total returns for the three broad S&amp;P indexes over the past six months, along with those of their value and growth subsets:</p><p><img src=\"https://static.tigerbbs.com/0e63cd85839b74ec79c0fdd789371f01\" tg-width=\"1242\" tg-height=\"428\"></p><p>So for all three indexes, the value groups have been in the lead for the past six months, as stocks have performed very well across the board.</p><p>But a long-term look at forward price-to-earnings valuations for exchange traded funds that track the groups shows a remarkable trend -- for mid-cap and small-cap stocks, P/E valuations for the value groups still appear relatively low.</p><p>First, let's look at large-caps -- here are the SPDR S&amp;P 500 ETF Trust <a href=\"https://laohu8.com/S/SPY.AU\">$(SPY.AU)$</a>, the <a href=\"https://laohu8.com/S/EEME\">iShares</a> S&amp;P 500 Value ETF <a href=\"https://laohu8.com/S/IVE\">$(IVE)$</a> and the SPDR Portfolio S&amp;P 500 Growth ETF <a href=\"https://laohu8.com/S/SPYG\">$(SPYG)$</a>:</p><p><img src=\"https://static.tigerbbs.com/fcb3602dcf8f7bf55944657020f0f7e3\" tg-width=\"1242\" tg-height=\"334\"></p><p>For the large-caps, P/E valuations are high across the board, but less so for value.</p><p>For mid-caps, here are  P/E comparisons for the <a href=\"https://laohu8.com/S/EGRW\">iShares</a> Core S&amp;P Mid Cap ETF <a href=\"https://laohu8.com/S/IJH\">$(IJH)$</a>, the SPDR S&amp;P 400 Mid Cap Value ETF <a href=\"https://laohu8.com/S/MDYV\">$(MDYV)$</a> and the <a href=\"https://laohu8.com/S/EMDI\">iShares</a> S&amp;P 500 Mid-cap 400 Growth ETF <a href=\"https://laohu8.com/S/IJK\">$(IJK)$</a>:</p><p><img src=\"https://static.tigerbbs.com/a0ebe986713e067cc68037f2816e84bc\" tg-width=\"1242\" tg-height=\"304\"></p><p>For small-cap stocks, here are P/E comparisons for the SPDR S&amp;P 600 Small Cap ETF <a href=\"https://laohu8.com/S/SLY\">$(SLY)$</a>, the <a href=\"https://laohu8.com/S/EMEY\">iShares</a> S&amp;P Small-Cap 600 Value ETF <a href=\"https://laohu8.com/S/IJS\">$(IJS)$</a> and the SPDR S&amp;P 600 Small Cap Growth ETF <a href=\"https://laohu8.com/S/SLYG\">$(SLYG)$</a>:</p><p><img src=\"https://static.tigerbbs.com/edc06e24728225e4387ff54a8dcfad02\" tg-width=\"1242\" tg-height=\"306\"></p><p>So for the small- and mid-cap value stocks, forward P/E ratios aren't very high when compared with 10-year averages, even after such a powerful rally.</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>Small-cap value stocks still look cheap even after big rally, two fund managers say</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSmall-cap value stocks still look cheap even after big rally, two fund managers say\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-03-30 19:31</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>Justin Tugman of Janus Henderson Investors and Christian Stadlinger of Columbia Threadneedle Investment highlight a handful of stocks that they say are still attractively priced.</blockquote><p>Value stocks have been on a tear over the past six months, as some growth stocks have fizzled out. But the value rally may still be at an early stage, according to two fund managers from different companies who hold small-cap and mid-cap stocks.</p><p>Justin Tugman of Janus Henderson Investors and Christian Stadlinger of Columbia Threadneedle Investments both made the case that the value rally will continue, especially for small-cap and mid-cap companies. The two mutual fund managers highlighted stocks that, they say, remain attractively priced.</p><p>At the bottom of this article are tables and charts showing how small- and mid-cap value stocks' price-to-earnings ratios haven't risen as much as those of the broad S&amp;P indexes and their growth subsets.</p><p>Tugman co-manages the Janus Henderson Small Cap Value Fund  with Craig Kempler, and also co-manages the Janus Henderson Mid Cap Value Fund  with Kevin Preloger. The Small Cap Value Fund is rated four stars (out of five) by Morningstar, while the Mid Cap Value Fund has a three-star rating.</p><p>When discussing the broad market rally since the pandemic bottom in March 2020, Tugman said the unprecedented monetary and  fiscal stimulus has pushed some investors to suspend \"any common sense when it comes to valuation metrics.\"</p><p>Following a long period during which growth stocks outperformed value, he believes investors' expectations for a rapidly growing U.S. economy and rising interest rates will continue to bode well for value stocks. He pointed out that periods of outperformance for value stocks have historically stretched over several years.</p><p>Tugman said he and his colleagues tend to be \"risk-averse.\" When selecting new stocks for the portfolios they manage, they first consider downside risk, then focus on upside potential and come up with a risk/reward ratio. They steer clear of highly leveraged or unprofitable companies and those facing \"binary events,\" such as biotechnology developers holding trials.</p><p>Tugman named three value stocks he believes are attractive today:</p><ul><li>Citizens Financial Group Inc. CFG of Providence, R.I., is a regional bank with $183 billion in assets and about 1,000 branches in 11 states. Tugman called the stock’s valuation “attractive at roughly 11 times estimated 2021 earnings.” He said the bank’s credit quality was strong and that it was well positioned to benefit from the steepening yield curve. Citizens is one of the largest holdings of the Janus Henderson Mid Cap Value Fund.</li><li>United Community Banks Inc. UCBI is a holding of the Janus Henderson Small Cap Value Fund. It is based in Blairsville, Ga., has $17.8 billion in total assets, with branches in five states. The stock has a forward P/E ratio of 14.8, which is on the high side for a bank. “We do not think [that valuation is] egregious for a bank growing like they are,” Tugman said. He expects UCBI to continue growing its loan portfolio in the high single digits, which is an impressive organic growth rate for any bank.</li><li>Another small-cap holding is Sunstone Hotel Investors Inc. SHO, which is a real-estate investment trust that owns hotel buildings and leases them to operators licensed by Marriott, Hilton and other well-known brands. Tugman said hotel closures during the pandemic had caused a “cash burn,” but that Sunstone’s balance sheet was still healthy. With the industry beginning to reopen, he believes “SHO sets up well for the long term.”</li></ul><p>Stadlinger is the lead manager for the Columbia Small Cap Value Fund II , and has been involved with the fund's management since 2002. Jarl Ginsberg co-manages the fund, which is rated four stars by Morningstar.</p><p>During an interview, Stadlinger said that through 2019, small-cap growth stocks had been outperforming value for 10 years, because \"when growth is scarce, the market pays up more for growth.\" HE was referring to slow GDP growth in the U.S. But now economists polled by MarketWatch expect a 6% GDP growth rate for 2021.</p><p>\"[T]here will be a whole lot more money being spent. When that happens, value stocks have historically outperformed,\" he said.</p><p>The Columbia Small Cap Value Fund II holds about 100 stocks. Stadlinger said he and Ginsberg select value stocks they believe will turn into growth stocks as the companies' earnings improve. \"That's  how you get returns,\" he said.</p><p>Companies held by the fund that Stadlinger expects to switch to growth from value include Sunstone Hotel Investors, which is also held by Janus Henderson and described above. \"All the indicators are positive\" for the company as the industry reopens at full strength, he said.</p><p>Four more companies mentioned by Stadlinger:</p><ul><li>Herc Holdings Inc. HRI rents construction and earth-moving equipment. With the economy improving, “utilization is picking up quite a bit,” Stadlinger said. The company is based in Florida and mainly operates in southern states, where commercial and residential construction activity is strong. And Stadlinger believes a large round of federal infrastructure spending is “doable.”</li><li>Marriott Vacations Worldwide Corp. VAC is a timeshare operator. This is an industry whose business model has changed, at least for such a large player. If you own a timeshare with Marriott Vacations, you earn points that can be used to make exchanges with other timeshare properties operated by the company. Stadlinger said that unlike hotel operators, timeshare companies have continued to collect maintenance fees from most customers during the pandemic. So they have been undervalued. And now, as the travel industry reopens, various other revenue streams are resuming, including restaurant and pool fees, he said.</li><li>Atlantic Union Bankshares Corp. AUB is based in Richmond, Va., and has $19.6 billion in assets and 129 branches in three states. Stadllinger described AUB as the “largest independent bank left” in Virginia, with “very strong management” and good prospects for loan growth as the economy improves. He also believes the bank is a takeout target for J.P. Morgan Chase &amp; Co. JPM or Bank of America Corp. BAC if they wish to have an expanded presence in the state.</li><li>Ultra Clean Holdings Inc. UCTT makes chemicals and equipment used by semiconductor manufacturers. The stock trades for 15.9 times the consensus earnings estimate among analysts polled by FactSet. Stadlinger called UCTT “cheap” because of the growth prospects in its industry. The chip-making business is booming.</li></ul><p><b>Value vs growth</b></p><p>The broad stock market indexes are broken into overlapping value and growth groups. The value groups are larger, and the companies in them tend to have lower price-to-earnings and price-to-book ratios, as well as lower sales growth rates. The growth groups tend to have higher price valuations and higher growth rates. The companies in both camps show characteristics of both, or at least did the last time the indexes were rebalanced, which happens annually.</p><p>Here are total returns for the three broad S&amp;P indexes over the past six months, along with those of their value and growth subsets:</p><p><img src=\"https://static.tigerbbs.com/0e63cd85839b74ec79c0fdd789371f01\" tg-width=\"1242\" tg-height=\"428\"></p><p>So for all three indexes, the value groups have been in the lead for the past six months, as stocks have performed very well across the board.</p><p>But a long-term look at forward price-to-earnings valuations for exchange traded funds that track the groups shows a remarkable trend -- for mid-cap and small-cap stocks, P/E valuations for the value groups still appear relatively low.</p><p>First, let's look at large-caps -- here are the SPDR S&amp;P 500 ETF Trust <a href=\"https://laohu8.com/S/SPY.AU\">$(SPY.AU)$</a>, the <a href=\"https://laohu8.com/S/EEME\">iShares</a> S&amp;P 500 Value ETF <a href=\"https://laohu8.com/S/IVE\">$(IVE)$</a> and the SPDR Portfolio S&amp;P 500 Growth ETF <a href=\"https://laohu8.com/S/SPYG\">$(SPYG)$</a>:</p><p><img src=\"https://static.tigerbbs.com/fcb3602dcf8f7bf55944657020f0f7e3\" tg-width=\"1242\" tg-height=\"334\"></p><p>For the large-caps, P/E valuations are high across the board, but less so for value.</p><p>For mid-caps, here are  P/E comparisons for the <a href=\"https://laohu8.com/S/EGRW\">iShares</a> Core S&amp;P Mid Cap ETF <a href=\"https://laohu8.com/S/IJH\">$(IJH)$</a>, the SPDR S&amp;P 400 Mid Cap Value ETF <a href=\"https://laohu8.com/S/MDYV\">$(MDYV)$</a> and the <a href=\"https://laohu8.com/S/EMDI\">iShares</a> S&amp;P 500 Mid-cap 400 Growth ETF <a href=\"https://laohu8.com/S/IJK\">$(IJK)$</a>:</p><p><img src=\"https://static.tigerbbs.com/a0ebe986713e067cc68037f2816e84bc\" tg-width=\"1242\" tg-height=\"304\"></p><p>For small-cap stocks, here are P/E comparisons for the SPDR S&amp;P 600 Small Cap ETF <a href=\"https://laohu8.com/S/SLY\">$(SLY)$</a>, the <a href=\"https://laohu8.com/S/EMEY\">iShares</a> S&amp;P Small-Cap 600 Value ETF <a href=\"https://laohu8.com/S/IJS\">$(IJS)$</a> and the SPDR S&amp;P 600 Small Cap Growth ETF <a href=\"https://laohu8.com/S/SLYG\">$(SLYG)$</a>:</p><p><img src=\"https://static.tigerbbs.com/edc06e24728225e4387ff54a8dcfad02\" tg-width=\"1242\" tg-height=\"306\"></p><p>So for the small- and mid-cap value stocks, forward P/E ratios aren't very high when compared with 10-year averages, even after such a powerful rally.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/26bf3bb7567240ee6086398a11a21c0a","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SDS":"两倍做空标普500ETF","HRI":"Herc Holdings Inc.","OEF":"标普100指数ETF-iShares","VAC":"万豪度假环球","OEX":"标普100","SH":"标普500反向ETF","SPXU":"三倍做空标普500ETF","SSO":"两倍做多标普500ETF","UCTT":"超科林半导体","IVV":"标普500指数ETF","UPRO":"三倍做多标普500ETF","AUB":"Union First Market Bankshares Co",".SPX":"S&P 500 Index","CFG":"Citizens Financial Group","SHO":"Sunstone Hotel Investors Inc"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2123291766","content_text":"Justin Tugman of Janus Henderson Investors and Christian Stadlinger of Columbia Threadneedle Investment highlight a handful of stocks that they say are still attractively priced.Value stocks have been on a tear over the past six months, as some growth stocks have fizzled out. But the value rally may still be at an early stage, according to two fund managers from different companies who hold small-cap and mid-cap stocks.Justin Tugman of Janus Henderson Investors and Christian Stadlinger of Columbia Threadneedle Investments both made the case that the value rally will continue, especially for small-cap and mid-cap companies. The two mutual fund managers highlighted stocks that, they say, remain attractively priced.At the bottom of this article are tables and charts showing how small- and mid-cap value stocks' price-to-earnings ratios haven't risen as much as those of the broad S&P indexes and their growth subsets.Tugman co-manages the Janus Henderson Small Cap Value Fund  with Craig Kempler, and also co-manages the Janus Henderson Mid Cap Value Fund  with Kevin Preloger. The Small Cap Value Fund is rated four stars (out of five) by Morningstar, while the Mid Cap Value Fund has a three-star rating.When discussing the broad market rally since the pandemic bottom in March 2020, Tugman said the unprecedented monetary and  fiscal stimulus has pushed some investors to suspend \"any common sense when it comes to valuation metrics.\"Following a long period during which growth stocks outperformed value, he believes investors' expectations for a rapidly growing U.S. economy and rising interest rates will continue to bode well for value stocks. He pointed out that periods of outperformance for value stocks have historically stretched over several years.Tugman said he and his colleagues tend to be \"risk-averse.\" When selecting new stocks for the portfolios they manage, they first consider downside risk, then focus on upside potential and come up with a risk/reward ratio. They steer clear of highly leveraged or unprofitable companies and those facing \"binary events,\" such as biotechnology developers holding trials.Tugman named three value stocks he believes are attractive today:Citizens Financial Group Inc. CFG of Providence, R.I., is a regional bank with $183 billion in assets and about 1,000 branches in 11 states. Tugman called the stock’s valuation “attractive at roughly 11 times estimated 2021 earnings.” He said the bank’s credit quality was strong and that it was well positioned to benefit from the steepening yield curve. Citizens is one of the largest holdings of the Janus Henderson Mid Cap Value Fund.United Community Banks Inc. UCBI is a holding of the Janus Henderson Small Cap Value Fund. It is based in Blairsville, Ga., has $17.8 billion in total assets, with branches in five states. The stock has a forward P/E ratio of 14.8, which is on the high side for a bank. “We do not think [that valuation is] egregious for a bank growing like they are,” Tugman said. He expects UCBI to continue growing its loan portfolio in the high single digits, which is an impressive organic growth rate for any bank.Another small-cap holding is Sunstone Hotel Investors Inc. SHO, which is a real-estate investment trust that owns hotel buildings and leases them to operators licensed by Marriott, Hilton and other well-known brands. Tugman said hotel closures during the pandemic had caused a “cash burn,” but that Sunstone’s balance sheet was still healthy. With the industry beginning to reopen, he believes “SHO sets up well for the long term.”Stadlinger is the lead manager for the Columbia Small Cap Value Fund II , and has been involved with the fund's management since 2002. Jarl Ginsberg co-manages the fund, which is rated four stars by Morningstar.During an interview, Stadlinger said that through 2019, small-cap growth stocks had been outperforming value for 10 years, because \"when growth is scarce, the market pays up more for growth.\" HE was referring to slow GDP growth in the U.S. But now economists polled by MarketWatch expect a 6% GDP growth rate for 2021.\"[T]here will be a whole lot more money being spent. When that happens, value stocks have historically outperformed,\" he said.The Columbia Small Cap Value Fund II holds about 100 stocks. Stadlinger said he and Ginsberg select value stocks they believe will turn into growth stocks as the companies' earnings improve. \"That's  how you get returns,\" he said.Companies held by the fund that Stadlinger expects to switch to growth from value include Sunstone Hotel Investors, which is also held by Janus Henderson and described above. \"All the indicators are positive\" for the company as the industry reopens at full strength, he said.Four more companies mentioned by Stadlinger:Herc Holdings Inc. HRI rents construction and earth-moving equipment. With the economy improving, “utilization is picking up quite a bit,” Stadlinger said. The company is based in Florida and mainly operates in southern states, where commercial and residential construction activity is strong. And Stadlinger believes a large round of federal infrastructure spending is “doable.”Marriott Vacations Worldwide Corp. VAC is a timeshare operator. This is an industry whose business model has changed, at least for such a large player. If you own a timeshare with Marriott Vacations, you earn points that can be used to make exchanges with other timeshare properties operated by the company. Stadlinger said that unlike hotel operators, timeshare companies have continued to collect maintenance fees from most customers during the pandemic. So they have been undervalued. And now, as the travel industry reopens, various other revenue streams are resuming, including restaurant and pool fees, he said.Atlantic Union Bankshares Corp. AUB is based in Richmond, Va., and has $19.6 billion in assets and 129 branches in three states. Stadllinger described AUB as the “largest independent bank left” in Virginia, with “very strong management” and good prospects for loan growth as the economy improves. He also believes the bank is a takeout target for J.P. Morgan Chase & Co. JPM or Bank of America Corp. BAC if they wish to have an expanded presence in the state.Ultra Clean Holdings Inc. UCTT makes chemicals and equipment used by semiconductor manufacturers. The stock trades for 15.9 times the consensus earnings estimate among analysts polled by FactSet. Stadlinger called UCTT “cheap” because of the growth prospects in its industry. The chip-making business is booming.Value vs growthThe broad stock market indexes are broken into overlapping value and growth groups. The value groups are larger, and the companies in them tend to have lower price-to-earnings and price-to-book ratios, as well as lower sales growth rates. The growth groups tend to have higher price valuations and higher growth rates. The companies in both camps show characteristics of both, or at least did the last time the indexes were rebalanced, which happens annually.Here are total returns for the three broad S&P indexes over the past six months, along with those of their value and growth subsets:So for all three indexes, the value groups have been in the lead for the past six months, as stocks have performed very well across the board.But a long-term look at forward price-to-earnings valuations for exchange traded funds that track the groups shows a remarkable trend -- for mid-cap and small-cap stocks, P/E valuations for the value groups still appear relatively low.First, let's look at large-caps -- here are the SPDR S&P 500 ETF Trust $(SPY.AU)$, the iShares S&P 500 Value ETF $(IVE)$ and the SPDR Portfolio S&P 500 Growth ETF $(SPYG)$:For the large-caps, P/E valuations are high across the board, but less so for value.For mid-caps, here are  P/E comparisons for the iShares Core S&P Mid Cap ETF $(IJH)$, the SPDR S&P 400 Mid Cap Value ETF $(MDYV)$ and the iShares S&P 500 Mid-cap 400 Growth ETF $(IJK)$:For small-cap stocks, here are P/E comparisons for the SPDR S&P 600 Small Cap ETF $(SLY)$, the iShares S&P Small-Cap 600 Value ETF $(IJS)$ and the SPDR S&P 600 Small Cap Growth ETF $(SLYG)$:So for the small- and mid-cap value stocks, forward P/E ratios aren't very high when compared with 10-year averages, even after such a powerful rally.","news_type":1},"isVote":1,"tweetType":1,"viewCount":461,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358678337,"gmtCreate":1616688910029,"gmtModify":1704797538406,"author":{"id":"3578375950225414","authorId":"3578375950225414","name":"adamyeo","avatar":"https://static.tigerbbs.com/611dc482b17b8572eca04ee8a485fb54","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578375950225414","authorIdStr":"3578375950225414"},"themes":[],"htmlText":"Let’s be patient for EVs in China, huge potential!","listText":"Let’s be patient for EVs in China, huge potential!","text":"Let’s be patient for EVs in China, huge potential!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/358678337","repostId":"1167131291","repostType":4,"isVote":1,"tweetType":1,"viewCount":386,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":351922876,"gmtCreate":1616555490795,"gmtModify":1704795599105,"author":{"id":"3578375950225414","authorId":"3578375950225414","name":"adamyeo","avatar":"https://static.tigerbbs.com/611dc482b17b8572eca04ee8a485fb54","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578375950225414","authorIdStr":"3578375950225414"},"themes":[],"htmlText":"News like this makes you wonder....","listText":"News like this makes you wonder....","text":"News like this makes you wonder....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/351922876","repostId":"1101903714","repostType":4,"isVote":1,"tweetType":1,"viewCount":465,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327563708,"gmtCreate":1616110896704,"gmtModify":1704791024835,"author":{"id":"3578375950225414","authorId":"3578375950225414","name":"adamyeo","avatar":"https://static.tigerbbs.com/611dc482b17b8572eca04ee8a485fb54","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578375950225414","authorIdStr":"3578375950225414"},"themes":[],"htmlText":"Aim for long term gains&nbsp;","listText":"Aim for long term gains&nbsp;","text":"Aim for long term gains","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/327563708","repostId":"1176074161","repostType":2,"repost":{"id":"1176074161","kind":"news","pubTimestamp":1616057102,"share":"https://ttm.financial/m/news/1176074161?lang=&edition=fundamental","pubTime":"2021-03-18 16:45","market":"us","language":"en","title":"Nio Stock Is Poised For Growth In 2021","url":"https://stock-news.laohu8.com/highlight/detail?id=1176074161","media":"InvestorPlace","summary":"NIO stock is a great long-term play and could challenge its previous all-time high\nElectric vehicle ","content":"<p>NIO stock is a great long-term play and could challenge its previous all-time high</p>\n<p>Electric vehicle stocks have accelerated throughout 2020 and Chinese EV plays such as&nbsp;<b>Nio</b>(NYSE:<b>NIO</b>) stock have enjoyed the most attention.</p>\n<p>As the global automotive market shifts towards electrification in the transport sector, the EV industry is only going to grow bigger. As per&nbsp;reports from S&amp;P Global, EV sales in China could reach 1.8 million units this year, which is a 40% rise from the previous year. It could reach 6 million in sales by 2025.</p>\n<p>Government support in the form of incentives has been a major driver for the growth of EV sector. EV stocks have been on the rise and<b>Nio</b>has made a strong impact on the industry.</p>\n<p>Investor interest in EV companies has surged over the past year. After a strong upside, Nio stock has shown volatility in the past few months. The stock gained 1,900% and hit an all-time high in January at $66. It is currently trading at about $44.</p>\n<p>This dip is an ideal opportunity to add the stock to your portfolio. Let us take a look at the investment case for NIO stock.</p>\n<p><b>Nio Offers a Lot More Than Cars</b></p>\n<p>Earlier in the year, Nio introduced the ET7 luxury sedan that will be available in 2022. The sedan has impressive features including an autonomous driving sensor and digital entry system.</p>\n<p>The sedan can take the company to another level. Nio is focusing on the largest passenger car market segment and it is working to gain a competitive edge with ET7. The car will come with batteries that can power a vehicle for&nbsp;1,000 kilometers. This feature will be able to win the market segment that values long-distance performance.</p>\n<p>Investors are already piling up on NIO stock for the strong delivery numbers and impressive Q4 results. Although the company is not profitable yet, there is so much going right for it. It is also planning to expand in Europe this year. Interestingly, Nio is not only focusing on reaching new vehicle sales numbers but is also working on its services and software.</p>\n<p>Besides the EVs, what sets NIO apart from its competitors is the battery swap program. Through this program, customers can recharge through a faster battery exchange. The company has automatic swap stations that take about three minutes to fully charge the battery. The stations can swap up to&nbsp;312 batteries in a day.</p>\n<p>Nio has more than 170 battery stations and it intends to install more than 500 stations in China by the end of this year. It will strengthen the position of the EV maker in the industry.</p>\n<p>Nio vehicle owners get a complete experience with the battery swap service. It already places Nio as a premium brand in the market. With strong delivery numbers and expansion in new geographical markets, Nio is poised for growth.</p>\n<p><b>Wall Street Loves NIO Stock</b></p>\n<p>NIO stock is a favorite with the Wall Street. Recently, Japanese firm Mizuho signaled a buy for NIO stock with a price target of $60. The firm stated that it saw strong upside for the stock as a growth leader in China.</p>\n<p>Deutsche Bank analysts&nbsp;reiterated the stock price prediction of $70 after the company reported Q4 earnings.</p>\n<p>Additionally,&nbsp;Nio is planning to&nbsp;list shares on the Hong Kong Stock Exchange&nbsp;this year. The company plans to see 5% of the share capital through the listing and this could raise about $5 billion.</p>\n<p>Further, out of 10 analysts on&nbsp;<i>Tipranks,</i>seven have a buy rating and three have a hold rating with a consensus price target of $65.24, which is a 46% upside from the current levels.</p>\n<p><b>The Bottom Line</b></p>\n<p>Despite the pandemic and the current downside on the stock, it looks promising for the long run. Investors are mostly keen on the fundamentals and value of the company. With regard to these aspects, Nio is certainly going strong and has impressive long-term prospects.</p>\n<p>NIO stock could reach its $60 level in the coming months. If you want to add it to your portfolio for long-term gains, now is the best time to make the move.</p>","source":"lsy1606302653667","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>Nio Stock Is Poised For Growth In 2021</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\">\nNio Stock Is Poised For Growth In 2021\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-18 16:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/03/nio-stock-is-poised-for-growth-in-2021/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NIO stock is a great long-term play and could challenge its previous all-time high\nElectric vehicle stocks have accelerated throughout 2020 and Chinese EV plays such as Nio(NYSE:NIO) stock have ...</p>\n\n<a href=\"https://investorplace.com/2021/03/nio-stock-is-poised-for-growth-in-2021/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://investorplace.com/2021/03/nio-stock-is-poised-for-growth-in-2021/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176074161","content_text":"NIO stock is a great long-term play and could challenge its previous all-time high\nElectric vehicle stocks have accelerated throughout 2020 and Chinese EV plays such as Nio(NYSE:NIO) stock have enjoyed the most attention.\nAs the global automotive market shifts towards electrification in the transport sector, the EV industry is only going to grow bigger. As per reports from S&P Global, EV sales in China could reach 1.8 million units this year, which is a 40% rise from the previous year. It could reach 6 million in sales by 2025.\nGovernment support in the form of incentives has been a major driver for the growth of EV sector. EV stocks have been on the rise andNiohas made a strong impact on the industry.\nInvestor interest in EV companies has surged over the past year. After a strong upside, Nio stock has shown volatility in the past few months. The stock gained 1,900% and hit an all-time high in January at $66. It is currently trading at about $44.\nThis dip is an ideal opportunity to add the stock to your portfolio. Let us take a look at the investment case for NIO stock.\nNio Offers a Lot More Than Cars\nEarlier in the year, Nio introduced the ET7 luxury sedan that will be available in 2022. The sedan has impressive features including an autonomous driving sensor and digital entry system.\nThe sedan can take the company to another level. Nio is focusing on the largest passenger car market segment and it is working to gain a competitive edge with ET7. The car will come with batteries that can power a vehicle for 1,000 kilometers. This feature will be able to win the market segment that values long-distance performance.\nInvestors are already piling up on NIO stock for the strong delivery numbers and impressive Q4 results. Although the company is not profitable yet, there is so much going right for it. It is also planning to expand in Europe this year. Interestingly, Nio is not only focusing on reaching new vehicle sales numbers but is also working on its services and software.\nBesides the EVs, what sets NIO apart from its competitors is the battery swap program. Through this program, customers can recharge through a faster battery exchange. The company has automatic swap stations that take about three minutes to fully charge the battery. The stations can swap up to 312 batteries in a day.\nNio has more than 170 battery stations and it intends to install more than 500 stations in China by the end of this year. It will strengthen the position of the EV maker in the industry.\nNio vehicle owners get a complete experience with the battery swap service. It already places Nio as a premium brand in the market. With strong delivery numbers and expansion in new geographical markets, Nio is poised for growth.\nWall Street Loves NIO Stock\nNIO stock is a favorite with the Wall Street. Recently, Japanese firm Mizuho signaled a buy for NIO stock with a price target of $60. The firm stated that it saw strong upside for the stock as a growth leader in China.\nDeutsche Bank analysts reiterated the stock price prediction of $70 after the company reported Q4 earnings.\nAdditionally, Nio is planning to list shares on the Hong Kong Stock Exchange this year. The company plans to see 5% of the share capital through the listing and this could raise about $5 billion.\nFurther, out of 10 analysts on Tipranks,seven have a buy rating and three have a hold rating with a consensus price target of $65.24, which is a 46% upside from the current levels.\nThe Bottom Line\nDespite the pandemic and the current downside on the stock, it looks promising for the long run. Investors are mostly keen on the fundamentals and value of the company. With regard to these aspects, Nio is certainly going strong and has impressive long-term prospects.\nNIO stock could reach its $60 level in the coming months. If you want to add it to your portfolio for long-term gains, now is the best time to make the move.","news_type":1},"isVote":1,"tweetType":1,"viewCount":466,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327512193,"gmtCreate":1616109780812,"gmtModify":1704791004300,"author":{"id":"3578375950225414","authorId":"3578375950225414","name":"adamyeo","avatar":"https://static.tigerbbs.com/611dc482b17b8572eca04ee8a485fb54","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578375950225414","authorIdStr":"3578375950225414"},"themes":[],"htmlText":"Buy it","listText":"Buy it","text":"Buy it","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/327512193","repostId":"1136193758","repostType":4,"repost":{"id":"1136193758","kind":"news","pubTimestamp":1616084780,"share":"https://ttm.financial/m/news/1136193758?lang=&edition=fundamental","pubTime":"2021-03-19 00:26","market":"us","language":"en","title":"China’s Tuya Is Poised to Raise $915 Million in U.S. IPO","url":"https://stock-news.laohu8.com/highlight/detail?id=1136193758","media":"Bloomberg","summary":"(March 18) Tuya opens for trading at $27.21, up 29.57% from IPO price.Tencent-backed firm’s shares s","content":"<p>(March 18)&nbsp;Tuya opens for trading at $27.21, up 29.57% from IPO price.</p><p><img src=\"https://static.tigerbbs.com/87927b685d980a8f608fbfd7b8ad16c1\" tg-width=\"662\" tg-height=\"418\"></p><ul><li>Tencent-backed firm’s shares set to price above marketed range</li><li>Company’s cloud platform used to manage smart devices</li></ul><p>Tuya Inc., a software company backed by&nbsp;New Enterprise Associates&nbsp;and&nbsp;Tencent Holdings Ltd., is on track to raise $915 million in a U.S. initial public offering priced above its marketed range, said a person familiar with the matter.</p><p>The company on Wednesday told prospective investors it would sell American depositary shares for $21 each, the person said, asking not to be identified as the matter is private. Tuya had marketed 43.59 million shares for $17 to $20 each.</p><p>At $915 million, the listing will be the second-biggest U.S. IPO this year by a Chinese company, according to data compiled by Bloomberg, after RLX Technology Inc. raised $1.6 billion in January.</p><p>The shares, representing one Class A common share, would give the company a market value of $11.8 billion based on the outstanding stock listed in its filings with the U.S. Securities and Exchange Commission.</p><p>IFR first reported the share price guidance on Wednesday. A company spokesperson declined to comment.</p><p>The company’s cloud computing platform is used by businesses to deploy, connect and manage large numbers and different types of smart devices, according to its filings. Tuya said it plans to use the IPO proceeds for research and development, investment in tech and infrastructure and other general corporate purposes.</p><p>Tuya had a net loss of $67 million on revenue of $180 million in 2020.</p><p>The offering is being led by&nbsp;Morgan Stanley, Bank of America Corp. and&nbsp;China International Capital Corp.The shares are expected to begin trading Thursday on the New York Stock Exchange under the symbol TUYA.</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>China’s Tuya Is Poised to Raise $915 Million in U.S. IPO</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\">\nChina’s Tuya Is Poised to Raise $915 Million in U.S. IPO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 00:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-18/china-s-tuya-is-said-poised-to-raise-915-million-in-u-s-ipo?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(March 18) Tuya opens for trading at $27.21, up 29.57% from IPO price.Tencent-backed firm’s shares set to price above marketed rangeCompany’s cloud platform used to manage smart devicesTuya Inc., a ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-18/china-s-tuya-is-said-poised-to-raise-915-million-in-u-s-ipo?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TUYA":"涂鸦智能"},"source_url":"http://bloomberg.com/news/articles/2021-03-18/china-s-tuya-is-said-poised-to-raise-915-million-in-u-s-ipo?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136193758","content_text":"(March 18) Tuya opens for trading at $27.21, up 29.57% from IPO price.Tencent-backed firm’s shares set to price above marketed rangeCompany’s cloud platform used to manage smart devicesTuya Inc., a software company backed by New Enterprise Associates and Tencent Holdings Ltd., is on track to raise $915 million in a U.S. initial public offering priced above its marketed range, said a person familiar with the matter.The company on Wednesday told prospective investors it would sell American depositary shares for $21 each, the person said, asking not to be identified as the matter is private. Tuya had marketed 43.59 million shares for $17 to $20 each.At $915 million, the listing will be the second-biggest U.S. IPO this year by a Chinese company, according to data compiled by Bloomberg, after RLX Technology Inc. raised $1.6 billion in January.The shares, representing one Class A common share, would give the company a market value of $11.8 billion based on the outstanding stock listed in its filings with the U.S. Securities and Exchange Commission.IFR first reported the share price guidance on Wednesday. A company spokesperson declined to comment.The company’s cloud computing platform is used by businesses to deploy, connect and manage large numbers and different types of smart devices, according to its filings. Tuya said it plans to use the IPO proceeds for research and development, investment in tech and infrastructure and other general corporate purposes.Tuya had a net loss of $67 million on revenue of $180 million in 2020.The offering is being led by Morgan Stanley, Bank of America Corp. and China International Capital Corp.The shares are expected to begin trading Thursday on the New York Stock Exchange under the symbol TUYA.","news_type":1},"isVote":1,"tweetType":1,"viewCount":338,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324798030,"gmtCreate":1616029304620,"gmtModify":1704789906802,"author":{"id":"3578375950225414","authorId":"3578375950225414","name":"adamyeo","avatar":"https://static.tigerbbs.com/611dc482b17b8572eca04ee8a485fb54","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578375950225414","authorIdStr":"3578375950225414"},"themes":[],"htmlText":"Just wow&nbsp;","listText":"Just wow&nbsp;","text":"Just wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/324798030","repostId":"2120135649","repostType":4,"isVote":1,"tweetType":1,"viewCount":615,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324425056,"gmtCreate":1616026665375,"gmtModify":1704789844063,"author":{"id":"3578375950225414","authorId":"3578375950225414","name":"adamyeo","avatar":"https://static.tigerbbs.com/611dc482b17b8572eca04ee8a485fb54","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578375950225414","authorIdStr":"3578375950225414"},"themes":[],"htmlText":"Very very interesting&nbsp;","listText":"Very very interesting&nbsp;","text":"Very very interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/324425056","repostId":"1198466120","repostType":4,"isVote":1,"tweetType":1,"viewCount":335,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":324798030,"gmtCreate":1616029304620,"gmtModify":1704789906802,"author":{"id":"3578375950225414","authorId":"3578375950225414","name":"adamyeo","avatar":"https://static.tigerbbs.com/611dc482b17b8572eca04ee8a485fb54","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578375950225414","authorIdStr":"3578375950225414"},"themes":[],"htmlText":"Just wow&nbsp;","listText":"Just wow&nbsp;","text":"Just wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/324798030","repostId":"2120135649","repostType":4,"repost":{"id":"2120135649","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1616028613,"share":"https://ttm.financial/m/news/2120135649?lang=&edition=fundamental","pubTime":"2021-03-18 08:50","market":"us","language":"en","title":"Why CrowdStrike Is A Top Growth Stock Pick","url":"https://stock-news.laohu8.com/highlight/detail?id=2120135649","media":"Benzinga","summary":"Crowdstrike Holdings Inc (NASDAQ: CRWD) shares traded lower by 2% on Wednesday after the company reported a profitable fourth quarter and issued guidance above Wall Street expectations.","content":"<p><b>Crowdstrike Holdings Inc</b> (NASDAQ:CRWD) shares traded lower by 2% on Wednesday after the company reported a profitable fourth quarter and issued guidance above Wall Street expectations.</p>\n<p>On Tuesday, CrowdStrike reported fourth-quarter adjusted EPS of 13 cents on $264.9 million in revenue. Both numbers topped consensus analyst estimates of 8 cents and $250.4 million, respectively. Revenue was up 74% from a year ago.</p>\n<p>In addition, CrowdStrike said it added 1,480 net new subscription business customers in the quarter, up from 1,186 additions in the third quarter.</p>\n<p>Crowdstrike also guided for fiscal 2022 revenue of between $1.31 billion and $1.32 billion, ahead of analyst forecasts of $1.22 billion.</p>\n<p><b>Secular Tailwinds:</b> RBC Capital Markets analyst Matthew Hedberg said CrowdStrike remains <a href=\"https://laohu8.com/S/AONE\">one</a> of his top growth stock picks.</p>\n<p>“Secular tailwinds continue to fuel the land-and-expand motion, which a broadening platform could accelerate,” Hedberg wrote.</p>\n<p>JPM Securities analyst Erik Suppiger said CrowdStike has a strong finish to the fiscal year as it aims to expand its total addressable market.</p>\n<p>“CrowdStrike is realizing significant operating leverage as the company’s record 13% operating margin for F4Q21 was up 490 bps from the prior quarter and more than 1,700 bps from the year-ago quarter,” Suppiger wrote.</p>\n<p><b>Impressive Subscriber Growth:</b> Oppenheimer analyst Ittai Kidron said strong subscription revenue and customer growth were highlights of the quarter, and Humio could be an excellent growth opportunity.</p>\n<p>“We believe CrowdStrike is well-positioned competitively and technologically to benefit from multiple tailwinds (cloud security, digital transformation, DevOps),” Kidron wrote.</p>\n<p>Needham analyst Alex Henderson said CrowdStrike’s numbers exceeded expectations across the board.</p>\n<p>“Crowd also delivered strong new products and platform integration including major expansion into Cloud Workload protection and now with the additions of Humio and Preempt, Crowd has expanded its capabilities to include integrated Identity protection and improved data ingestion, visibility, and R/T analysis allowing a unified data layer,” Henderson wrote.</p>\n<p><b>Ratings And Price Targets:</b> </p>\n<p>RBC has an Outperform rating and a $250 target. </p>\n<p>JPM has an Outperform rating and a $295 target. </p>\n<p>Oppenheimer has an Outperform rating and a $225 target. </p>\n<p>Needham has a Buy rating and a $275 target.</p>\n<p><img src=\"https://static.tigerbbs.com/2321eb5fe3886a78fe04e4ac4941b629\" tg-width=\"1044\" tg-height=\"238\"></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>Why CrowdStrike Is A Top Growth Stock Pick</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy CrowdStrike Is A Top Growth Stock Pick\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-03-18 08:50</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p><b>Crowdstrike Holdings Inc</b> (NASDAQ:CRWD) shares traded lower by 2% on Wednesday after the company reported a profitable fourth quarter and issued guidance above Wall Street expectations.</p>\n<p>On Tuesday, CrowdStrike reported fourth-quarter adjusted EPS of 13 cents on $264.9 million in revenue. Both numbers topped consensus analyst estimates of 8 cents and $250.4 million, respectively. Revenue was up 74% from a year ago.</p>\n<p>In addition, CrowdStrike said it added 1,480 net new subscription business customers in the quarter, up from 1,186 additions in the third quarter.</p>\n<p>Crowdstrike also guided for fiscal 2022 revenue of between $1.31 billion and $1.32 billion, ahead of analyst forecasts of $1.22 billion.</p>\n<p><b>Secular Tailwinds:</b> RBC Capital Markets analyst Matthew Hedberg said CrowdStrike remains <a href=\"https://laohu8.com/S/AONE\">one</a> of his top growth stock picks.</p>\n<p>“Secular tailwinds continue to fuel the land-and-expand motion, which a broadening platform could accelerate,” Hedberg wrote.</p>\n<p>JPM Securities analyst Erik Suppiger said CrowdStike has a strong finish to the fiscal year as it aims to expand its total addressable market.</p>\n<p>“CrowdStrike is realizing significant operating leverage as the company’s record 13% operating margin for F4Q21 was up 490 bps from the prior quarter and more than 1,700 bps from the year-ago quarter,” Suppiger wrote.</p>\n<p><b>Impressive Subscriber Growth:</b> Oppenheimer analyst Ittai Kidron said strong subscription revenue and customer growth were highlights of the quarter, and Humio could be an excellent growth opportunity.</p>\n<p>“We believe CrowdStrike is well-positioned competitively and technologically to benefit from multiple tailwinds (cloud security, digital transformation, DevOps),” Kidron wrote.</p>\n<p>Needham analyst Alex Henderson said CrowdStrike’s numbers exceeded expectations across the board.</p>\n<p>“Crowd also delivered strong new products and platform integration including major expansion into Cloud Workload protection and now with the additions of Humio and Preempt, Crowd has expanded its capabilities to include integrated Identity protection and improved data ingestion, visibility, and R/T analysis allowing a unified data layer,” Henderson wrote.</p>\n<p><b>Ratings And Price Targets:</b> </p>\n<p>RBC has an Outperform rating and a $250 target. </p>\n<p>JPM has an Outperform rating and a $295 target. </p>\n<p>Oppenheimer has an Outperform rating and a $225 target. </p>\n<p>Needham has a Buy rating and a $275 target.</p>\n<p><img src=\"https://static.tigerbbs.com/2321eb5fe3886a78fe04e4ac4941b629\" tg-width=\"1044\" tg-height=\"238\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRWD":"CrowdStrike Holdings, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2120135649","content_text":"Crowdstrike Holdings Inc (NASDAQ:CRWD) shares traded lower by 2% on Wednesday after the company reported a profitable fourth quarter and issued guidance above Wall Street expectations.\nOn Tuesday, CrowdStrike reported fourth-quarter adjusted EPS of 13 cents on $264.9 million in revenue. Both numbers topped consensus analyst estimates of 8 cents and $250.4 million, respectively. Revenue was up 74% from a year ago.\nIn addition, CrowdStrike said it added 1,480 net new subscription business customers in the quarter, up from 1,186 additions in the third quarter.\nCrowdstrike also guided for fiscal 2022 revenue of between $1.31 billion and $1.32 billion, ahead of analyst forecasts of $1.22 billion.\nSecular Tailwinds: RBC Capital Markets analyst Matthew Hedberg said CrowdStrike remains one of his top growth stock picks.\n“Secular tailwinds continue to fuel the land-and-expand motion, which a broadening platform could accelerate,” Hedberg wrote.\nJPM Securities analyst Erik Suppiger said CrowdStike has a strong finish to the fiscal year as it aims to expand its total addressable market.\n“CrowdStrike is realizing significant operating leverage as the company’s record 13% operating margin for F4Q21 was up 490 bps from the prior quarter and more than 1,700 bps from the year-ago quarter,” Suppiger wrote.\nImpressive Subscriber Growth: Oppenheimer analyst Ittai Kidron said strong subscription revenue and customer growth were highlights of the quarter, and Humio could be an excellent growth opportunity.\n“We believe CrowdStrike is well-positioned competitively and technologically to benefit from multiple tailwinds (cloud security, digital transformation, DevOps),” Kidron wrote.\nNeedham analyst Alex Henderson said CrowdStrike’s numbers exceeded expectations across the board.\n“Crowd also delivered strong new products and platform integration including major expansion into Cloud Workload protection and now with the additions of Humio and Preempt, Crowd has expanded its capabilities to include integrated Identity protection and improved data ingestion, visibility, and R/T analysis allowing a unified data layer,” Henderson wrote.\nRatings And Price Targets: \nRBC has an Outperform rating and a $250 target. \nJPM has an Outperform rating and a $295 target. \nOppenheimer has an Outperform rating and a $225 target. \nNeedham has a Buy rating and a $275 target.","news_type":1},"isVote":1,"tweetType":1,"viewCount":615,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":351922876,"gmtCreate":1616555490795,"gmtModify":1704795599105,"author":{"id":"3578375950225414","authorId":"3578375950225414","name":"adamyeo","avatar":"https://static.tigerbbs.com/611dc482b17b8572eca04ee8a485fb54","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578375950225414","authorIdStr":"3578375950225414"},"themes":[],"htmlText":"News like this makes you wonder....","listText":"News like this makes you wonder....","text":"News like this makes you wonder....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/351922876","repostId":"1101903714","repostType":4,"isVote":1,"tweetType":1,"viewCount":465,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327563708,"gmtCreate":1616110896704,"gmtModify":1704791024835,"author":{"id":"3578375950225414","authorId":"3578375950225414","name":"adamyeo","avatar":"https://static.tigerbbs.com/611dc482b17b8572eca04ee8a485fb54","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578375950225414","authorIdStr":"3578375950225414"},"themes":[],"htmlText":"Aim for long term gains&nbsp;","listText":"Aim for long term gains&nbsp;","text":"Aim for long term gains","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/327563708","repostId":"1176074161","repostType":2,"isVote":1,"tweetType":1,"viewCount":466,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327512193,"gmtCreate":1616109780812,"gmtModify":1704791004300,"author":{"id":"3578375950225414","authorId":"3578375950225414","name":"adamyeo","avatar":"https://static.tigerbbs.com/611dc482b17b8572eca04ee8a485fb54","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578375950225414","authorIdStr":"3578375950225414"},"themes":[],"htmlText":"Buy it","listText":"Buy it","text":"Buy it","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/327512193","repostId":"1136193758","repostType":4,"isVote":1,"tweetType":1,"viewCount":338,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354129520,"gmtCreate":1617152772860,"gmtModify":1704696451190,"author":{"id":"3578375950225414","authorId":"3578375950225414","name":"adamyeo","avatar":"https://static.tigerbbs.com/611dc482b17b8572eca04ee8a485fb54","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578375950225414","authorIdStr":"3578375950225414"},"themes":[],"htmlText":"Pretty&nbsp;","listText":"Pretty&nbsp;","text":"Pretty","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/354129520","repostId":"2123291766","repostType":4,"repost":{"id":"2123291766","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1617103860,"share":"https://ttm.financial/m/news/2123291766?lang=&edition=fundamental","pubTime":"2021-03-30 19:31","market":"us","language":"en","title":"Small-cap value stocks still look cheap even after big rally, two fund managers say","url":"https://stock-news.laohu8.com/highlight/detail?id=2123291766","media":"Dow Jones","summary":"Justin Tugman of Janus Henderson Investors and Christian Stadlinger of Columbia Threadneedle Investm","content":"<blockquote>Justin Tugman of Janus Henderson Investors and Christian Stadlinger of Columbia Threadneedle Investment highlight a handful of stocks that they say are still attractively priced.</blockquote><p>Value stocks have been on a tear over the past six months, as some growth stocks have fizzled out. But the value rally may still be at an early stage, according to two fund managers from different companies who hold small-cap and mid-cap stocks.</p><p>Justin Tugman of Janus Henderson Investors and Christian Stadlinger of Columbia Threadneedle Investments both made the case that the value rally will continue, especially for small-cap and mid-cap companies. The two mutual fund managers highlighted stocks that, they say, remain attractively priced.</p><p>At the bottom of this article are tables and charts showing how small- and mid-cap value stocks' price-to-earnings ratios haven't risen as much as those of the broad S&amp;P indexes and their growth subsets.</p><p>Tugman co-manages the Janus Henderson Small Cap Value Fund  with Craig Kempler, and also co-manages the Janus Henderson Mid Cap Value Fund  with Kevin Preloger. The Small Cap Value Fund is rated four stars (out of five) by Morningstar, while the Mid Cap Value Fund has a three-star rating.</p><p>When discussing the broad market rally since the pandemic bottom in March 2020, Tugman said the unprecedented monetary and  fiscal stimulus has pushed some investors to suspend \"any common sense when it comes to valuation metrics.\"</p><p>Following a long period during which growth stocks outperformed value, he believes investors' expectations for a rapidly growing U.S. economy and rising interest rates will continue to bode well for value stocks. He pointed out that periods of outperformance for value stocks have historically stretched over several years.</p><p>Tugman said he and his colleagues tend to be \"risk-averse.\" When selecting new stocks for the portfolios they manage, they first consider downside risk, then focus on upside potential and come up with a risk/reward ratio. They steer clear of highly leveraged or unprofitable companies and those facing \"binary events,\" such as biotechnology developers holding trials.</p><p>Tugman named three value stocks he believes are attractive today:</p><ul><li>Citizens Financial Group Inc. CFG of Providence, R.I., is a regional bank with $183 billion in assets and about 1,000 branches in 11 states. Tugman called the stock’s valuation “attractive at roughly 11 times estimated 2021 earnings.” He said the bank’s credit quality was strong and that it was well positioned to benefit from the steepening yield curve. Citizens is one of the largest holdings of the Janus Henderson Mid Cap Value Fund.</li><li>United Community Banks Inc. UCBI is a holding of the Janus Henderson Small Cap Value Fund. It is based in Blairsville, Ga., has $17.8 billion in total assets, with branches in five states. The stock has a forward P/E ratio of 14.8, which is on the high side for a bank. “We do not think [that valuation is] egregious for a bank growing like they are,” Tugman said. He expects UCBI to continue growing its loan portfolio in the high single digits, which is an impressive organic growth rate for any bank.</li><li>Another small-cap holding is Sunstone Hotel Investors Inc. SHO, which is a real-estate investment trust that owns hotel buildings and leases them to operators licensed by Marriott, Hilton and other well-known brands. Tugman said hotel closures during the pandemic had caused a “cash burn,” but that Sunstone’s balance sheet was still healthy. With the industry beginning to reopen, he believes “SHO sets up well for the long term.”</li></ul><p>Stadlinger is the lead manager for the Columbia Small Cap Value Fund II , and has been involved with the fund's management since 2002. Jarl Ginsberg co-manages the fund, which is rated four stars by Morningstar.</p><p>During an interview, Stadlinger said that through 2019, small-cap growth stocks had been outperforming value for 10 years, because \"when growth is scarce, the market pays up more for growth.\" HE was referring to slow GDP growth in the U.S. But now economists polled by MarketWatch expect a 6% GDP growth rate for 2021.</p><p>\"[T]here will be a whole lot more money being spent. When that happens, value stocks have historically outperformed,\" he said.</p><p>The Columbia Small Cap Value Fund II holds about 100 stocks. Stadlinger said he and Ginsberg select value stocks they believe will turn into growth stocks as the companies' earnings improve. \"That's  how you get returns,\" he said.</p><p>Companies held by the fund that Stadlinger expects to switch to growth from value include Sunstone Hotel Investors, which is also held by Janus Henderson and described above. \"All the indicators are positive\" for the company as the industry reopens at full strength, he said.</p><p>Four more companies mentioned by Stadlinger:</p><ul><li>Herc Holdings Inc. HRI rents construction and earth-moving equipment. With the economy improving, “utilization is picking up quite a bit,” Stadlinger said. The company is based in Florida and mainly operates in southern states, where commercial and residential construction activity is strong. And Stadlinger believes a large round of federal infrastructure spending is “doable.”</li><li>Marriott Vacations Worldwide Corp. VAC is a timeshare operator. This is an industry whose business model has changed, at least for such a large player. If you own a timeshare with Marriott Vacations, you earn points that can be used to make exchanges with other timeshare properties operated by the company. Stadlinger said that unlike hotel operators, timeshare companies have continued to collect maintenance fees from most customers during the pandemic. So they have been undervalued. And now, as the travel industry reopens, various other revenue streams are resuming, including restaurant and pool fees, he said.</li><li>Atlantic Union Bankshares Corp. AUB is based in Richmond, Va., and has $19.6 billion in assets and 129 branches in three states. Stadllinger described AUB as the “largest independent bank left” in Virginia, with “very strong management” and good prospects for loan growth as the economy improves. He also believes the bank is a takeout target for J.P. Morgan Chase &amp; Co. JPM or Bank of America Corp. BAC if they wish to have an expanded presence in the state.</li><li>Ultra Clean Holdings Inc. UCTT makes chemicals and equipment used by semiconductor manufacturers. The stock trades for 15.9 times the consensus earnings estimate among analysts polled by FactSet. Stadlinger called UCTT “cheap” because of the growth prospects in its industry. The chip-making business is booming.</li></ul><p><b>Value vs growth</b></p><p>The broad stock market indexes are broken into overlapping value and growth groups. The value groups are larger, and the companies in them tend to have lower price-to-earnings and price-to-book ratios, as well as lower sales growth rates. The growth groups tend to have higher price valuations and higher growth rates. The companies in both camps show characteristics of both, or at least did the last time the indexes were rebalanced, which happens annually.</p><p>Here are total returns for the three broad S&amp;P indexes over the past six months, along with those of their value and growth subsets:</p><p><img src=\"https://static.tigerbbs.com/0e63cd85839b74ec79c0fdd789371f01\" tg-width=\"1242\" tg-height=\"428\"></p><p>So for all three indexes, the value groups have been in the lead for the past six months, as stocks have performed very well across the board.</p><p>But a long-term look at forward price-to-earnings valuations for exchange traded funds that track the groups shows a remarkable trend -- for mid-cap and small-cap stocks, P/E valuations for the value groups still appear relatively low.</p><p>First, let's look at large-caps -- here are the SPDR S&amp;P 500 ETF Trust <a href=\"https://laohu8.com/S/SPY.AU\">$(SPY.AU)$</a>, the <a href=\"https://laohu8.com/S/EEME\">iShares</a> S&amp;P 500 Value ETF <a href=\"https://laohu8.com/S/IVE\">$(IVE)$</a> and the SPDR Portfolio S&amp;P 500 Growth ETF <a href=\"https://laohu8.com/S/SPYG\">$(SPYG)$</a>:</p><p><img src=\"https://static.tigerbbs.com/fcb3602dcf8f7bf55944657020f0f7e3\" tg-width=\"1242\" tg-height=\"334\"></p><p>For the large-caps, P/E valuations are high across the board, but less so for value.</p><p>For mid-caps, here are  P/E comparisons for the <a href=\"https://laohu8.com/S/EGRW\">iShares</a> Core S&amp;P Mid Cap ETF <a href=\"https://laohu8.com/S/IJH\">$(IJH)$</a>, the SPDR S&amp;P 400 Mid Cap Value ETF <a href=\"https://laohu8.com/S/MDYV\">$(MDYV)$</a> and the <a href=\"https://laohu8.com/S/EMDI\">iShares</a> S&amp;P 500 Mid-cap 400 Growth ETF <a href=\"https://laohu8.com/S/IJK\">$(IJK)$</a>:</p><p><img src=\"https://static.tigerbbs.com/a0ebe986713e067cc68037f2816e84bc\" tg-width=\"1242\" tg-height=\"304\"></p><p>For small-cap stocks, here are P/E comparisons for the SPDR S&amp;P 600 Small Cap ETF <a href=\"https://laohu8.com/S/SLY\">$(SLY)$</a>, the <a href=\"https://laohu8.com/S/EMEY\">iShares</a> S&amp;P Small-Cap 600 Value ETF <a href=\"https://laohu8.com/S/IJS\">$(IJS)$</a> and the SPDR S&amp;P 600 Small Cap Growth ETF <a href=\"https://laohu8.com/S/SLYG\">$(SLYG)$</a>:</p><p><img src=\"https://static.tigerbbs.com/edc06e24728225e4387ff54a8dcfad02\" tg-width=\"1242\" tg-height=\"306\"></p><p>So for the small- and mid-cap value stocks, forward P/E ratios aren't very high when compared with 10-year averages, even after such a powerful rally.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSmall-cap value stocks still look cheap even after big rally, two fund managers say\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-03-30 19:31</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>Justin Tugman of Janus Henderson Investors and Christian Stadlinger of Columbia Threadneedle Investment highlight a handful of stocks that they say are still attractively priced.</blockquote><p>Value stocks have been on a tear over the past six months, as some growth stocks have fizzled out. But the value rally may still be at an early stage, according to two fund managers from different companies who hold small-cap and mid-cap stocks.</p><p>Justin Tugman of Janus Henderson Investors and Christian Stadlinger of Columbia Threadneedle Investments both made the case that the value rally will continue, especially for small-cap and mid-cap companies. The two mutual fund managers highlighted stocks that, they say, remain attractively priced.</p><p>At the bottom of this article are tables and charts showing how small- and mid-cap value stocks' price-to-earnings ratios haven't risen as much as those of the broad S&amp;P indexes and their growth subsets.</p><p>Tugman co-manages the Janus Henderson Small Cap Value Fund  with Craig Kempler, and also co-manages the Janus Henderson Mid Cap Value Fund  with Kevin Preloger. The Small Cap Value Fund is rated four stars (out of five) by Morningstar, while the Mid Cap Value Fund has a three-star rating.</p><p>When discussing the broad market rally since the pandemic bottom in March 2020, Tugman said the unprecedented monetary and  fiscal stimulus has pushed some investors to suspend \"any common sense when it comes to valuation metrics.\"</p><p>Following a long period during which growth stocks outperformed value, he believes investors' expectations for a rapidly growing U.S. economy and rising interest rates will continue to bode well for value stocks. He pointed out that periods of outperformance for value stocks have historically stretched over several years.</p><p>Tugman said he and his colleagues tend to be \"risk-averse.\" When selecting new stocks for the portfolios they manage, they first consider downside risk, then focus on upside potential and come up with a risk/reward ratio. They steer clear of highly leveraged or unprofitable companies and those facing \"binary events,\" such as biotechnology developers holding trials.</p><p>Tugman named three value stocks he believes are attractive today:</p><ul><li>Citizens Financial Group Inc. CFG of Providence, R.I., is a regional bank with $183 billion in assets and about 1,000 branches in 11 states. Tugman called the stock’s valuation “attractive at roughly 11 times estimated 2021 earnings.” He said the bank’s credit quality was strong and that it was well positioned to benefit from the steepening yield curve. Citizens is one of the largest holdings of the Janus Henderson Mid Cap Value Fund.</li><li>United Community Banks Inc. UCBI is a holding of the Janus Henderson Small Cap Value Fund. It is based in Blairsville, Ga., has $17.8 billion in total assets, with branches in five states. The stock has a forward P/E ratio of 14.8, which is on the high side for a bank. “We do not think [that valuation is] egregious for a bank growing like they are,” Tugman said. He expects UCBI to continue growing its loan portfolio in the high single digits, which is an impressive organic growth rate for any bank.</li><li>Another small-cap holding is Sunstone Hotel Investors Inc. SHO, which is a real-estate investment trust that owns hotel buildings and leases them to operators licensed by Marriott, Hilton and other well-known brands. Tugman said hotel closures during the pandemic had caused a “cash burn,” but that Sunstone’s balance sheet was still healthy. With the industry beginning to reopen, he believes “SHO sets up well for the long term.”</li></ul><p>Stadlinger is the lead manager for the Columbia Small Cap Value Fund II , and has been involved with the fund's management since 2002. Jarl Ginsberg co-manages the fund, which is rated four stars by Morningstar.</p><p>During an interview, Stadlinger said that through 2019, small-cap growth stocks had been outperforming value for 10 years, because \"when growth is scarce, the market pays up more for growth.\" HE was referring to slow GDP growth in the U.S. But now economists polled by MarketWatch expect a 6% GDP growth rate for 2021.</p><p>\"[T]here will be a whole lot more money being spent. When that happens, value stocks have historically outperformed,\" he said.</p><p>The Columbia Small Cap Value Fund II holds about 100 stocks. Stadlinger said he and Ginsberg select value stocks they believe will turn into growth stocks as the companies' earnings improve. \"That's  how you get returns,\" he said.</p><p>Companies held by the fund that Stadlinger expects to switch to growth from value include Sunstone Hotel Investors, which is also held by Janus Henderson and described above. \"All the indicators are positive\" for the company as the industry reopens at full strength, he said.</p><p>Four more companies mentioned by Stadlinger:</p><ul><li>Herc Holdings Inc. HRI rents construction and earth-moving equipment. With the economy improving, “utilization is picking up quite a bit,” Stadlinger said. The company is based in Florida and mainly operates in southern states, where commercial and residential construction activity is strong. And Stadlinger believes a large round of federal infrastructure spending is “doable.”</li><li>Marriott Vacations Worldwide Corp. VAC is a timeshare operator. This is an industry whose business model has changed, at least for such a large player. If you own a timeshare with Marriott Vacations, you earn points that can be used to make exchanges with other timeshare properties operated by the company. Stadlinger said that unlike hotel operators, timeshare companies have continued to collect maintenance fees from most customers during the pandemic. So they have been undervalued. And now, as the travel industry reopens, various other revenue streams are resuming, including restaurant and pool fees, he said.</li><li>Atlantic Union Bankshares Corp. AUB is based in Richmond, Va., and has $19.6 billion in assets and 129 branches in three states. Stadllinger described AUB as the “largest independent bank left” in Virginia, with “very strong management” and good prospects for loan growth as the economy improves. He also believes the bank is a takeout target for J.P. Morgan Chase &amp; Co. JPM or Bank of America Corp. BAC if they wish to have an expanded presence in the state.</li><li>Ultra Clean Holdings Inc. UCTT makes chemicals and equipment used by semiconductor manufacturers. The stock trades for 15.9 times the consensus earnings estimate among analysts polled by FactSet. Stadlinger called UCTT “cheap” because of the growth prospects in its industry. The chip-making business is booming.</li></ul><p><b>Value vs growth</b></p><p>The broad stock market indexes are broken into overlapping value and growth groups. The value groups are larger, and the companies in them tend to have lower price-to-earnings and price-to-book ratios, as well as lower sales growth rates. The growth groups tend to have higher price valuations and higher growth rates. The companies in both camps show characteristics of both, or at least did the last time the indexes were rebalanced, which happens annually.</p><p>Here are total returns for the three broad S&amp;P indexes over the past six months, along with those of their value and growth subsets:</p><p><img src=\"https://static.tigerbbs.com/0e63cd85839b74ec79c0fdd789371f01\" tg-width=\"1242\" tg-height=\"428\"></p><p>So for all three indexes, the value groups have been in the lead for the past six months, as stocks have performed very well across the board.</p><p>But a long-term look at forward price-to-earnings valuations for exchange traded funds that track the groups shows a remarkable trend -- for mid-cap and small-cap stocks, P/E valuations for the value groups still appear relatively low.</p><p>First, let's look at large-caps -- here are the SPDR S&amp;P 500 ETF Trust <a href=\"https://laohu8.com/S/SPY.AU\">$(SPY.AU)$</a>, the <a href=\"https://laohu8.com/S/EEME\">iShares</a> S&amp;P 500 Value ETF <a href=\"https://laohu8.com/S/IVE\">$(IVE)$</a> and the SPDR Portfolio S&amp;P 500 Growth ETF <a href=\"https://laohu8.com/S/SPYG\">$(SPYG)$</a>:</p><p><img src=\"https://static.tigerbbs.com/fcb3602dcf8f7bf55944657020f0f7e3\" tg-width=\"1242\" tg-height=\"334\"></p><p>For the large-caps, P/E valuations are high across the board, but less so for value.</p><p>For mid-caps, here are  P/E comparisons for the <a href=\"https://laohu8.com/S/EGRW\">iShares</a> Core S&amp;P Mid Cap ETF <a href=\"https://laohu8.com/S/IJH\">$(IJH)$</a>, the SPDR S&amp;P 400 Mid Cap Value ETF <a href=\"https://laohu8.com/S/MDYV\">$(MDYV)$</a> and the <a href=\"https://laohu8.com/S/EMDI\">iShares</a> S&amp;P 500 Mid-cap 400 Growth ETF <a href=\"https://laohu8.com/S/IJK\">$(IJK)$</a>:</p><p><img src=\"https://static.tigerbbs.com/a0ebe986713e067cc68037f2816e84bc\" tg-width=\"1242\" tg-height=\"304\"></p><p>For small-cap stocks, here are P/E comparisons for the SPDR S&amp;P 600 Small Cap ETF <a href=\"https://laohu8.com/S/SLY\">$(SLY)$</a>, the <a href=\"https://laohu8.com/S/EMEY\">iShares</a> S&amp;P Small-Cap 600 Value ETF <a href=\"https://laohu8.com/S/IJS\">$(IJS)$</a> and the SPDR S&amp;P 600 Small Cap Growth ETF <a href=\"https://laohu8.com/S/SLYG\">$(SLYG)$</a>:</p><p><img src=\"https://static.tigerbbs.com/edc06e24728225e4387ff54a8dcfad02\" tg-width=\"1242\" tg-height=\"306\"></p><p>So for the small- and mid-cap value stocks, forward P/E ratios aren't very high when compared with 10-year averages, even after such a powerful rally.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/26bf3bb7567240ee6086398a11a21c0a","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SDS":"两倍做空标普500ETF","HRI":"Herc Holdings Inc.","OEF":"标普100指数ETF-iShares","VAC":"万豪度假环球","OEX":"标普100","SH":"标普500反向ETF","SPXU":"三倍做空标普500ETF","SSO":"两倍做多标普500ETF","UCTT":"超科林半导体","IVV":"标普500指数ETF","UPRO":"三倍做多标普500ETF","AUB":"Union First Market Bankshares Co",".SPX":"S&P 500 Index","CFG":"Citizens Financial Group","SHO":"Sunstone Hotel Investors Inc"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2123291766","content_text":"Justin Tugman of Janus Henderson Investors and Christian Stadlinger of Columbia Threadneedle Investment highlight a handful of stocks that they say are still attractively priced.Value stocks have been on a tear over the past six months, as some growth stocks have fizzled out. But the value rally may still be at an early stage, according to two fund managers from different companies who hold small-cap and mid-cap stocks.Justin Tugman of Janus Henderson Investors and Christian Stadlinger of Columbia Threadneedle Investments both made the case that the value rally will continue, especially for small-cap and mid-cap companies. The two mutual fund managers highlighted stocks that, they say, remain attractively priced.At the bottom of this article are tables and charts showing how small- and mid-cap value stocks' price-to-earnings ratios haven't risen as much as those of the broad S&P indexes and their growth subsets.Tugman co-manages the Janus Henderson Small Cap Value Fund  with Craig Kempler, and also co-manages the Janus Henderson Mid Cap Value Fund  with Kevin Preloger. The Small Cap Value Fund is rated four stars (out of five) by Morningstar, while the Mid Cap Value Fund has a three-star rating.When discussing the broad market rally since the pandemic bottom in March 2020, Tugman said the unprecedented monetary and  fiscal stimulus has pushed some investors to suspend \"any common sense when it comes to valuation metrics.\"Following a long period during which growth stocks outperformed value, he believes investors' expectations for a rapidly growing U.S. economy and rising interest rates will continue to bode well for value stocks. He pointed out that periods of outperformance for value stocks have historically stretched over several years.Tugman said he and his colleagues tend to be \"risk-averse.\" When selecting new stocks for the portfolios they manage, they first consider downside risk, then focus on upside potential and come up with a risk/reward ratio. They steer clear of highly leveraged or unprofitable companies and those facing \"binary events,\" such as biotechnology developers holding trials.Tugman named three value stocks he believes are attractive today:Citizens Financial Group Inc. CFG of Providence, R.I., is a regional bank with $183 billion in assets and about 1,000 branches in 11 states. Tugman called the stock’s valuation “attractive at roughly 11 times estimated 2021 earnings.” He said the bank’s credit quality was strong and that it was well positioned to benefit from the steepening yield curve. Citizens is one of the largest holdings of the Janus Henderson Mid Cap Value Fund.United Community Banks Inc. UCBI is a holding of the Janus Henderson Small Cap Value Fund. It is based in Blairsville, Ga., has $17.8 billion in total assets, with branches in five states. The stock has a forward P/E ratio of 14.8, which is on the high side for a bank. “We do not think [that valuation is] egregious for a bank growing like they are,” Tugman said. He expects UCBI to continue growing its loan portfolio in the high single digits, which is an impressive organic growth rate for any bank.Another small-cap holding is Sunstone Hotel Investors Inc. SHO, which is a real-estate investment trust that owns hotel buildings and leases them to operators licensed by Marriott, Hilton and other well-known brands. Tugman said hotel closures during the pandemic had caused a “cash burn,” but that Sunstone’s balance sheet was still healthy. With the industry beginning to reopen, he believes “SHO sets up well for the long term.”Stadlinger is the lead manager for the Columbia Small Cap Value Fund II , and has been involved with the fund's management since 2002. Jarl Ginsberg co-manages the fund, which is rated four stars by Morningstar.During an interview, Stadlinger said that through 2019, small-cap growth stocks had been outperforming value for 10 years, because \"when growth is scarce, the market pays up more for growth.\" HE was referring to slow GDP growth in the U.S. But now economists polled by MarketWatch expect a 6% GDP growth rate for 2021.\"[T]here will be a whole lot more money being spent. When that happens, value stocks have historically outperformed,\" he said.The Columbia Small Cap Value Fund II holds about 100 stocks. Stadlinger said he and Ginsberg select value stocks they believe will turn into growth stocks as the companies' earnings improve. \"That's  how you get returns,\" he said.Companies held by the fund that Stadlinger expects to switch to growth from value include Sunstone Hotel Investors, which is also held by Janus Henderson and described above. \"All the indicators are positive\" for the company as the industry reopens at full strength, he said.Four more companies mentioned by Stadlinger:Herc Holdings Inc. HRI rents construction and earth-moving equipment. With the economy improving, “utilization is picking up quite a bit,” Stadlinger said. The company is based in Florida and mainly operates in southern states, where commercial and residential construction activity is strong. And Stadlinger believes a large round of federal infrastructure spending is “doable.”Marriott Vacations Worldwide Corp. VAC is a timeshare operator. This is an industry whose business model has changed, at least for such a large player. If you own a timeshare with Marriott Vacations, you earn points that can be used to make exchanges with other timeshare properties operated by the company. Stadlinger said that unlike hotel operators, timeshare companies have continued to collect maintenance fees from most customers during the pandemic. So they have been undervalued. And now, as the travel industry reopens, various other revenue streams are resuming, including restaurant and pool fees, he said.Atlantic Union Bankshares Corp. AUB is based in Richmond, Va., and has $19.6 billion in assets and 129 branches in three states. Stadllinger described AUB as the “largest independent bank left” in Virginia, with “very strong management” and good prospects for loan growth as the economy improves. He also believes the bank is a takeout target for J.P. Morgan Chase & Co. JPM or Bank of America Corp. BAC if they wish to have an expanded presence in the state.Ultra Clean Holdings Inc. UCTT makes chemicals and equipment used by semiconductor manufacturers. The stock trades for 15.9 times the consensus earnings estimate among analysts polled by FactSet. Stadlinger called UCTT “cheap” because of the growth prospects in its industry. The chip-making business is booming.Value vs growthThe broad stock market indexes are broken into overlapping value and growth groups. The value groups are larger, and the companies in them tend to have lower price-to-earnings and price-to-book ratios, as well as lower sales growth rates. The growth groups tend to have higher price valuations and higher growth rates. The companies in both camps show characteristics of both, or at least did the last time the indexes were rebalanced, which happens annually.Here are total returns for the three broad S&P indexes over the past six months, along with those of their value and growth subsets:So for all three indexes, the value groups have been in the lead for the past six months, as stocks have performed very well across the board.But a long-term look at forward price-to-earnings valuations for exchange traded funds that track the groups shows a remarkable trend -- for mid-cap and small-cap stocks, P/E valuations for the value groups still appear relatively low.First, let's look at large-caps -- here are the SPDR S&P 500 ETF Trust $(SPY.AU)$, the iShares S&P 500 Value ETF $(IVE)$ and the SPDR Portfolio S&P 500 Growth ETF $(SPYG)$:For the large-caps, P/E valuations are high across the board, but less so for value.For mid-caps, here are  P/E comparisons for the iShares Core S&P Mid Cap ETF $(IJH)$, the SPDR S&P 400 Mid Cap Value ETF $(MDYV)$ and the iShares S&P 500 Mid-cap 400 Growth ETF $(IJK)$:For small-cap stocks, here are P/E comparisons for the SPDR S&P 600 Small Cap ETF $(SLY)$, the iShares S&P Small-Cap 600 Value ETF $(IJS)$ and the SPDR S&P 600 Small Cap Growth ETF $(SLYG)$:So for the small- and mid-cap value stocks, forward P/E ratios aren't very high when compared with 10-year averages, even after such a powerful rally.","news_type":1},"isVote":1,"tweetType":1,"viewCount":461,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358678337,"gmtCreate":1616688910029,"gmtModify":1704797538406,"author":{"id":"3578375950225414","authorId":"3578375950225414","name":"adamyeo","avatar":"https://static.tigerbbs.com/611dc482b17b8572eca04ee8a485fb54","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578375950225414","authorIdStr":"3578375950225414"},"themes":[],"htmlText":"Let’s be patient for EVs in China, huge potential!","listText":"Let’s be patient for EVs in China, huge potential!","text":"Let’s be patient for EVs in China, huge potential!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/358678337","repostId":"1167131291","repostType":4,"repost":{"id":"1167131291","kind":"news","pubTimestamp":1616670990,"share":"https://ttm.financial/m/news/1167131291?lang=&edition=fundamental","pubTime":"2021-03-25 19:16","market":"hk","language":"en","title":"What’s Up With China EVs? Here’s a Clue","url":"https://stock-news.laohu8.com/highlight/detail?id=1167131291","media":"Bloomberg","summary":"Electric-car infrastructure is something investors would do well to watchDense as it may be, the Chi","content":"<p>Electric-car infrastructure is something investors would do well to watch</p><p>Dense as it may be, the Chinese government’s&nbsp;annual work report– a summary of the country’s recent economic and social developments, as well as a list of future ambitions — is worthwhile reading material. It gives some key insights into Beijing’s thinking and by extension, a hint about what investors should keep an eye on in the world’s second-largest economy.</p><p>The phrase “new energy vehicle” has been mentioned religiously&nbsp;in the report since 2014, in conjunction with the government's mandate to&nbsp;promote electric car sales. This has played a big part in positioning China as the world’s biggest market for EVs, attracting serious money from, among others, Tesla, which set up afactory in Shanghai.</p><p>This year, however, those words have been replaced by more&nbsp;current buzz words: EV changing stations, battery swapping facilities, and battery recycling. The&nbsp;change of focus&nbsp;is telling. Having spooled out incentives to foster mass EV adoption&nbsp;– the government has delivered&nbsp;more than 52 billion yuan ($8 billion) in subsidies, for example – China now is focused on ensuring the necessary infrastructure is in place to support the sector for the long&nbsp;term. This change will, in time,&nbsp;create pockets of opportunity in areas that may not&nbsp;immediately be apparent.</p><p>Take EV charging. Insufficient charging facilities have been cited as one of the key obstacles hindering EV development in China. While the situation is more advanced than&nbsp;in the U.S. —&nbsp;as BNEF analyst and Hyperdrive writer&nbsp;Colin McKerracher recently pointed out, China installed 112,000 public EV charging points in December alone, more than the entire U.S. public charging network — there's room for improvement<b>.</b></p><p>When you drive around Beijing these days, you still need patience and luck to find an available&nbsp;EV charging point, and from time to time, a lot of those two things. There’s one charging pole for every three EVs, on average, in China — about 1.7 million in total, including home and public ones. But&nbsp;the number of EVs is expected to surge 29-fold to over 160 million vehicles by 2035, creating a huge charging gap, and a great opportunity. For charging-pole providers like startup&nbsp;Qingdao TGOOD Electric Co., which operates China's&nbsp;largest network of EV plugs, and&nbsp;StarCharge, which isn’t listed yet but which plans to be in the not too distant future, that latent demand could pave the&nbsp;way for faster and smoother expansion, as well as provide a quicker path to&nbsp;profitability.</p><p>In the same vein, as batteries from the early fleets of EVs that started appearing on China’s roads in 2008 near retirement,lithium-ion battery recycling—&nbsp;a theme highlighted for the first time this year in the work report&nbsp; — is emerging as&nbsp;an urgent task that must be addressed, not only for environmental reasons, but also for devising efficiencies in mining the minerals used to make batteries. Some 39,000 tons of cobalt and 125,000 tons of nickel could come from spent batteries by 2030, helping to offset any shortfall in mined supply, according to BNEF. For cobalt, that could meet around 10% of projected demand. BNEF also said today that used EVs&nbsp;in China are&nbsp;losing value faster&nbsp;than comparable internal combustion engine vehicles, highlighting the need for battery-recycling facilities.</p><p><img src=\"https://static.tigerbbs.com/28e58dc2b5f29fbce89ca301f8a42e1c\" tg-width=\"930\" tg-height=\"576\" referrerpolicy=\"no-referrer\"></p><p>Companies are starting to respond. Chinese battery maker&nbsp;Contemporary Amperex Technology Co. Ltd., a Tesla supplier, last month announced a new 12-billion-yuan facility in Guangdong, a part of which will be dedicated to battery recycling. In a year when automakers globally took a hit due to the coronavirus, CATL’s Shenzhen-listed shares surged 230%.</p><p>Beijing’s vow to build more&nbsp;battery-swap stations&nbsp;is another avenue that investors who want exposure to China’s booming EV market may want to watch. Swapping out an empty cell with a charged one can be as swift as pumping up a gasoline tank, and it also ushers in a new business model that treats a car more like a shell or dumb hardware, within which the intelligent software and battery can be purchased and upgraded via subscription. The China Association of Automobile Manufacturers, a government-backed auto trade body, has referred to this sort of approach as a “battery bank” and said it’s something they’re exploring.</p><p>Battery financing, leasing and battery-swap stations are businesses in which more and more companies are starting to dabble. William Li, the CEO of Chinese EV maker&nbsp;Nio, mused recently that shareholder interest in the company’s battery asset-management unit was on the rise. And at a Nio press conference in November,&nbsp; the front-row seats were not for media. They’d been taken —&nbsp;by investors.</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>What’s Up With China EVs? Here’s a Clue</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\">\nWhat’s Up With China EVs? Here’s a Clue\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 19:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-25/what-s-up-with-china-ev-s-here-s-a-clue?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Electric-car infrastructure is something investors would do well to watchDense as it may be, the Chinese government’s annual work report– a summary of the country’s recent economic and social ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-25/what-s-up-with-china-ev-s-here-s-a-clue?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"002594":"比亚迪","TSLA":"特斯拉","01211":"比亚迪股份","LI":"理想汽车","NIO":"蔚来","BIDU":"百度","XPEV":"小鹏汽车","09888":"百度集团-SW"},"source_url":"http://bloomberg.com/news/articles/2021-03-25/what-s-up-with-china-ev-s-here-s-a-clue?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1167131291","content_text":"Electric-car infrastructure is something investors would do well to watchDense as it may be, the Chinese government’s annual work report– a summary of the country’s recent economic and social developments, as well as a list of future ambitions — is worthwhile reading material. It gives some key insights into Beijing’s thinking and by extension, a hint about what investors should keep an eye on in the world’s second-largest economy.The phrase “new energy vehicle” has been mentioned religiously in the report since 2014, in conjunction with the government's mandate to promote electric car sales. This has played a big part in positioning China as the world’s biggest market for EVs, attracting serious money from, among others, Tesla, which set up afactory in Shanghai.This year, however, those words have been replaced by more current buzz words: EV changing stations, battery swapping facilities, and battery recycling. The change of focus is telling. Having spooled out incentives to foster mass EV adoption – the government has delivered more than 52 billion yuan ($8 billion) in subsidies, for example – China now is focused on ensuring the necessary infrastructure is in place to support the sector for the long term. This change will, in time, create pockets of opportunity in areas that may not immediately be apparent.Take EV charging. Insufficient charging facilities have been cited as one of the key obstacles hindering EV development in China. While the situation is more advanced than in the U.S. — as BNEF analyst and Hyperdrive writer Colin McKerracher recently pointed out, China installed 112,000 public EV charging points in December alone, more than the entire U.S. public charging network — there's room for improvement.When you drive around Beijing these days, you still need patience and luck to find an available EV charging point, and from time to time, a lot of those two things. There’s one charging pole for every three EVs, on average, in China — about 1.7 million in total, including home and public ones. But the number of EVs is expected to surge 29-fold to over 160 million vehicles by 2035, creating a huge charging gap, and a great opportunity. For charging-pole providers like startup Qingdao TGOOD Electric Co., which operates China's largest network of EV plugs, and StarCharge, which isn’t listed yet but which plans to be in the not too distant future, that latent demand could pave the way for faster and smoother expansion, as well as provide a quicker path to profitability.In the same vein, as batteries from the early fleets of EVs that started appearing on China’s roads in 2008 near retirement,lithium-ion battery recycling— a theme highlighted for the first time this year in the work report  — is emerging as an urgent task that must be addressed, not only for environmental reasons, but also for devising efficiencies in mining the minerals used to make batteries. Some 39,000 tons of cobalt and 125,000 tons of nickel could come from spent batteries by 2030, helping to offset any shortfall in mined supply, according to BNEF. For cobalt, that could meet around 10% of projected demand. BNEF also said today that used EVs in China are losing value faster than comparable internal combustion engine vehicles, highlighting the need for battery-recycling facilities.Companies are starting to respond. Chinese battery maker Contemporary Amperex Technology Co. Ltd., a Tesla supplier, last month announced a new 12-billion-yuan facility in Guangdong, a part of which will be dedicated to battery recycling. In a year when automakers globally took a hit due to the coronavirus, CATL’s Shenzhen-listed shares surged 230%.Beijing’s vow to build more battery-swap stations is another avenue that investors who want exposure to China’s booming EV market may want to watch. Swapping out an empty cell with a charged one can be as swift as pumping up a gasoline tank, and it also ushers in a new business model that treats a car more like a shell or dumb hardware, within which the intelligent software and battery can be purchased and upgraded via subscription. The China Association of Automobile Manufacturers, a government-backed auto trade body, has referred to this sort of approach as a “battery bank” and said it’s something they’re exploring.Battery financing, leasing and battery-swap stations are businesses in which more and more companies are starting to dabble. William Li, the CEO of Chinese EV maker Nio, mused recently that shareholder interest in the company’s battery asset-management unit was on the rise. And at a Nio press conference in November,  the front-row seats were not for media. They’d been taken — by investors.","news_type":1},"isVote":1,"tweetType":1,"viewCount":386,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324425056,"gmtCreate":1616026665375,"gmtModify":1704789844063,"author":{"id":"3578375950225414","authorId":"3578375950225414","name":"adamyeo","avatar":"https://static.tigerbbs.com/611dc482b17b8572eca04ee8a485fb54","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578375950225414","authorIdStr":"3578375950225414"},"themes":[],"htmlText":"Very very interesting&nbsp;","listText":"Very very interesting&nbsp;","text":"Very very interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/324425056","repostId":"1198466120","repostType":4,"repost":{"id":"1198466120","kind":"news","pubTimestamp":1616024830,"share":"https://ttm.financial/m/news/1198466120?lang=&edition=fundamental","pubTime":"2021-03-18 07:47","market":"us","language":"en","title":"Dow climbs 189 points to close above 33,000 for the first time as Fed sticks to easy policy","url":"https://stock-news.laohu8.com/highlight/detail?id=1198466120","media":"cnbc","summary":"U.S. stocks erased earlier losses and jumped higher Wednesday after the Federal Reserve said it sees","content":"<div>\n<p>U.S. stocks erased earlier losses and jumped higher Wednesday after the Federal Reserve said it sees no interest rate hikes through 2023 and that it will let inflation run hotter than usual to ensure ...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/16/stock-market-futures-open-to-close-news.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDow climbs 189 points to close above 33,000 for the first time as Fed sticks to easy policy\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-18 07:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/16/stock-market-futures-open-to-close-news.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. stocks erased earlier losses and jumped higher Wednesday after the Federal Reserve said it sees no interest rate hikes through 2023 and that it will let inflation run hotter than usual to ensure ...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/16/stock-market-futures-open-to-close-news.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.cnbc.com/2021/03/16/stock-market-futures-open-to-close-news.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1198466120","content_text":"U.S. stocks erased earlier losses and jumped higher Wednesday after the Federal Reserve said it sees no interest rate hikes through 2023 and that it will let inflation run hotter than usual to ensure a full economic recovery.\nThe Dow Jones Industrial Average gained 189.42 points, or 0.6%, to 33,015.37, marking the first time the blue-chip benchmark has closed above the 33,000 threshold. The S&P 500 erased a 0.7% loss and rose 0.3% to a record closing high of 3,974.12. The Nasdaq Composite wiped out earlier losses and ended the day 0.4% higher at 13,525.20. The tech-heavy benchmark fell 1.5% at one point as growth stocks came under pressure amid surging bond yields again.\nWhile the Fed expects benchmark interest rates to remain near zero for the next two years, the central bank upgraded their economic outlook to reflect expectations for a stronger recovery from the pandemic-triggered recession. Gross domestic product is expected to grow 6.5% in 2021 before cooling off in later years.\nExpectations for core inflation also moved higher, with the committee now looking for a 2.2% gain this year as measured by personal consumption expenditures. The central bank’s stated goal is to keep inflation at 2% over the long run.\n“It sounds like the perfect scenario for investors and the outlook and you’re seeing market response to this very optimistic view,” said Michael Arone, chief investment strategist at State Street Global Advisors. “Monetary policy is going to remain largely accommodative almost regardless of what happens with interest rates, inflation and asset prices.”\nFed Chair Jerome Powell said in a press conference that the Fed would need to see a material and sustained move in inflation above 2% before considering changes to its current easy policy stance.\n“We do expect that we’ll begin to make faster progress on both labor markets and inflation as the year goes on because of the progress with the vaccines, because of the fiscal support that we’re getting,” Powell said. “We expect that to happen, but we’ll have to see it first.”\nThe 10-year Treasury yield came off its high of the day following the central bank’s update, rising 2 basis points to 1.64%. Earlier in the session, the benchmark rate jumped to 1.689%, hitting a level unseen since late January 2020. Higher rates have been hurting growth-oriented companies particularly hard as they erode the value of future cash flows.\n“With the 2023 median plot still hugging the floor, stocks and bonds are rising again,” said Anu Gaggar, senior global investment analyst at Commonwealth Financial Network. “This is like a Goldilocks market – strong economic growth, moderately higher inflation, rebounding earnings, and very easy monetary conditions.”\nRising interest rates have been an overhang for stocks in recent weeks and accelerated a shift into value stocks from growth. The Russell 2000 has rallied 18% this year so far as investors went bargain-hunting in the small-cap space. The biggest winning sectors in 2021 have been energy and financials, up 35% and 16%, respectively.\nShares of Disney gained 0.5% after CEO Bob Chapek told CNBC that California’s two Disneyland theme parks will reopen on April 30.McDonald’s climbed 1.9% after Deutsche Bank upgraded the stock to buy from hold.","news_type":1},"isVote":1,"tweetType":1,"viewCount":335,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}