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2022-02-03

4 tiger

@TigerEvents:【Game】How many "TIGER"s can you find?

2021-08-20

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Morgan Stanley：China's Regulatory Reset

2021-08-20

They forget about covid like non existing from the report

Morgan Stanley：China's Regulatory Reset

2021-08-17

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This Is What Hedge Funds Bought And Sold In Q2: Complete 13F Summary

2021-08-13

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2021-08-11

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2021-08-10

$MAXI-CASH FIN SVCS CORP LTD(5UF.SI)$Still corner move up only alittle kenna sell down

2021-08-10

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Stocks making the biggest moves in the premarket: Casper Sleep, AMC Entertainment, 3D Systems and more

2021-08-02

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2021-08-02

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August Is Actually A Great Month If You Own These 8 Stocks

2021-08-01

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Wall Street declines with Amazon; S&P 500 posts gains for month

2021-07-30

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EV Stocks surged in Friday morning trading

2021-07-19

Hotter

Morgan Stanley: This Cycle Will Be "Hotter But Shorter" Than Usual

2021-07-18

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US IPO Week Ahead: Software, soft drinks, specialty insurance, and more debut in a 17 IPO week

2021-07-13

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2021-07-12

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DouYu officially terminates merger agreement with Huya

2021-07-09

$Tiger Brokers(TIGR)$Fortune favour the Brave. Buy when bad news surround the company.. when the sun start to shine. Tigr will move up

2021-07-07

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Chinese EV Maker Xpeng surged 1.8% on its first day of trading in Hong Kong

2021-07-06

$Tiger Brokers(TIGR)$Don’t miss the boat today

2021-07-06

Indian also copy China want to build hospital in 10 days. But fail miserably.. meeting to decide already 2 week

India selects four global firms to boost IT products manufacturing

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tiger","listText":"4 tiger","text":"4 tiger","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9091502884","repostId":"9091628986","repostType":1,"repost":{"id":9091628986,"gmtCreate":1643854628042,"gmtModify":1676533864325,"author":{"id":"3527667667103859","authorId":"3527667667103859","name":"TigerEvents","avatar":"https://community-static.tradeup.com/news/c266ef25181ace18bec1262357bbe1a8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3527667667103859","authorIdStr":"3527667667103859"},"themes":[],"title":"【Game】How many \"TIGER\"s can you find?","htmlText":"Hey Tigers! The first month of 2022 has passed. How is everything going with you in the new year? Here is the \"Tiger crossword\" game for you to play, and hope you always have fun in the Tiger Community in the next 11 months to come! [How to participate] Save the following picture, and circle “TIGER” in your phone Reply in the comment section with your saved picture of the crossword to show us how many \"TIGER\"s you can find&nbsp; [Prizes] Tiger users who find 1 “TIGER” will win 100 Tiger coins Tiger users who find multiple “TIGER”s will win X*100 Tiger coins [Duration]&nbsp; NOW - 6 Feb&nbsp; [Notes] The word \"TIGER\" should be in a row and the 5 letters CAN NOT be separated Pictures by copying and pasting from others are not valid Tiger Coins will be sent in 5 working days after this event","listText":"Hey Tigers! The first month of 2022 has passed. How is everything going with you in the new year? 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It could rebalance the share of economy toward labor, lowering corporate profit share. We see a longer and more profound market impact.New objective triggering major regulatory reset: We are at a signifi- cant moment in the history of China’s economy and capital markets: after a decade-long journey to eliminate absolute poverty, Beijing is shi","content":"<blockquote>\n Beijing is shifting its governance priorities to balancing growth and sustainability, tackling&nbsp;social equality and security with a major regulatory reset. It could rebalance the share of&nbsp;economy toward labor, lowering corporate profit share. We see a longer and more&nbsp;profound market impact.\n</blockquote>\n<p><i><b>New objective triggering major regulatory reset: </b></i>We are at a signifi- cant moment in the history of China’s economy and capital markets: after a decade-long journey to eliminate absolute poverty, Beijing is shifting governance priorities from growth to balancing growth and sustainability: social equality, data security, and self-sufficiency. China's new regulations on fintech, big tech, after-school tutoring, cryptocurrency, and carbon emissions over the past nine months underpin this major regulatory reset.</p>\n<p><i><b>Economic implications:</b></i> Under the new governance paradigm, China appears to be attempting to check the rise in corporate power and rebalance the share of the economy in favor of labor, which could result in decline in corporate profit share. We see regulatory head- winds for sectors associated with rising tensions of social inequality, environmental sustainability, and data security risks, while the new framework provides policy support to advanced manufacturing, tech localization, and renewable energy. We remain watchful of the risk of over-regulation, or, in contrast, resumption of offshore (Hong Kong) IPOs for tech companies, clarity over employment benefits and other issues concerning platform companies, progress on audit access dis- pute resolution, and clearer guidance from top policymakers to curb spillover effects of regulation changes.</p>\n<p><b><i>Investment implications:</i></b> We expect a longer and more profound impact from the current regulatory cycle on China's equity market valuations and Equity Risk Premium (ERP) than has occurred in sim- ilar past cycles, as it is affecting a more substantial proportion of the market than previously and, in particular, the Internet sector, which accounts for ~40% of MSCI China by index weight. There is a substan- tial degree of uncertainty over what this means both for future net income margins and revenue growth for the affected sectors and stocks.</p>\n<p>Our current base case forward P/E target for MSCI China of 13.0x implies MSCI China would trade on a mid-single-digit percentage val- uation discount to MSCI EM ex China for a sustained period of time. Over time we expect the MSCI China universe to gradually have a more balanced sector allocation with a reduced weight for Internet and a higher weight for sectors like Industrials and IT.</p>\n<p><i><b>Challenges and opportunities by segment/theme</b></i>: Data-heavy tech and platform companies and property could remain under pressure amid the regulatory reset, while semi localization, cybersecurity, domestic brands catering to the mass market, innovative drugs, bio- tech, and green economy may enjoy support.</p>\n<p><b>5&nbsp;Key Charts at a Glance</b></p>\n<p>A shift from \"growth first\" to balancing growth and sustainability...<img src=\"https://static.tigerbbs.com/2da734c8c3853c4f5e3ef9f420b44128\" tg-width=\"1384\" tg-height=\"422\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/45ef8f29c3d6672ff460eb2c2f53e4bd\" tg-width=\"1372\" tg-height=\"736\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/d0f6b44f17975c68e81956d1f48f1a1f\" tg-width=\"1420\" tg-height=\"720\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/28739534c43a8f4ad6130734def1060e\" tg-width=\"1396\" tg-height=\"998\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/081b21f4492f2e201aa01ce3bf0cc0cf\" tg-width=\"1442\" tg-height=\"708\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/d9e0b9b6480a2b1c9c338ece5db0f691\" tg-width=\"1378\" tg-height=\"938\" referrerpolicy=\"no-referrer\"><b>Challenges and opportunities by segment/theme</b><img src=\"https://static.tigerbbs.com/ee2a916e7de802073a0628962cc2cfe6\" tg-width=\"1114\" tg-height=\"1170\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/9ab4ef36aba8f43d66471c352d81a93f\" tg-width=\"1118\" tg-height=\"690\" referrerpolicy=\"no-referrer\"><b>Understanding China's Regulatory Reset</b></p>\n<p>New era, new objective...</p>\n<p>We believe the recent regulatory tightening reflects a shift in China's governance priorities from \"growth first\" to balancing growth and sustainability – i.e., security, self-sufficiency, and social equality. In the last decade Beijing said its key goal was to double per capita income and eliminate absolute poverty (President Xi’s inaugural speech in Nov. 2012), i.e., giving highest priority to growth. However, this \"pro-growth\" strategy also led to higher inequality and social problems due to lack of regulations on emerging sectors, pointing to the importance of \"pro-poor\" measures as a complement (see World Bank (2004): Pro-growth, pro-poor: Is there a tradeoff?). Now, the government is emphasizing “getting rich together” (common prosperity) as the new objective for the next stage of development in the midst of the CCP's 100-year anniversary, and aims to \"prevent the unbridled expansion of capital\" by intro- ducing a range of KPIs besides economic growth, which covers social equality, supply chain self-sufficiency and data security in the face of rising secular risks – income inequality, US-China tensions, and aging demographics.</p>\n<p>Reflecting this reorientation, policymakers have intensified regu- lations in the past 9 months over fintech, big tech (anti-trust, data regulation and employee protection), after-school tutoring, crypto- currency, carbon emissions and overseas IPO rules. The anti-trust campaign has mainly targeted the prevention of tech giants from an over-concentration of market power and eroding welfare of smaller businesses and outsourced employees; the fintech regulation serves&nbsp;the purpose of curbing regulatory arbitrage and financial stability risks; and the increased scrutiny over Chinese ADRs and cross-border data flow in July 2021 mainly focuses on reducing risks of security amid lingering geopolitical tensions. Similarly, the recent regulatory changes to after-school tutoring are part of policy efforts to reduce child-raising costs.</p>\n<p>In short, China is trying to rebalance the rise in corporate power and the share of labor compensation, and this may lead to some systematic de-rating in valuations for some sectors. Having said that, policymakers will have to strike a balance, as China's ambition to thrive as an economic super power will require it to ensure con- tinued private sector vitality to spur innovation and further RMB internationalization to attract capital inflows, so as to sustain long- term productivity growth. While the new regulations introduce more requirements on social responsibility and data usage, and might lead to some increase in margin pressures for related enterprises, we think they will not disrupt business models for most sectors (except for after-school tutoring). For instance, the anti-trust law mainly focuses on banning tech-giants from requiring merchants to sign exclusive cooperation pacts, while the government's guidance on enhancing flexible workers' social benefits mainly requires food delivery platforms to pay healthcare and pension coverage for out- sourced employees. Online goods sales have also held up quite well recently despite the tech regulation campaign starting from late last year. Meanwhile, some regulatory changes are supportive for advanced manufacturing, hardware localization, and clean energy supply chain.<img src=\"https://static.tigerbbs.com/aed81f65a92f4b2731263273025f4a53\" tg-width=\"1108\" tg-height=\"328\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/cb0dce11e47f8023f88a4ab2622f89e6\" tg-width=\"1128\" tg-height=\"700\" referrerpolicy=\"no-referrer\">...but history rhymes</p>\n<p>While many of the regulations appear long-overdue and make sense (for example on fintech, anti-trust and outsourced labour protec- tion), the pace of changes in last 9 months has caught the market off-guard as a seemingly arbitrary shift in direction.</p>\n<p>Why has it occurred in such fashion? We have indeed seen this movie many times: China’s regulatory environments have tended to oscillate between relaxed and tight enforcement, especially in emerging sectors. But this has tended to result in an abrupt regula- tory reset. Before the current reversal in regulating big tech, China had a regulation campaign on mining (2006-2009), dairy (2008- 2010), high-end dining and liquor (2013-2014), irrational capital out-&nbsp;flows (2016-17), gaming (2018), and drugs (2018-2019) – most lasting for one to two years. The sharp shifts in regulatory changes have been largely due to the fact that regulations have tended to lag a period of exponential growth in the sector:</p>\n<ul>\n <li>Relaxed stage: Local government support, pro-growth men- tality and business interests together contributed to a lag in regulating emerging sectors.</li>\n <li>Tight regulation stage: When a problem is looming as evi- denced by public opinion and/or financial stability indicators, the top leadership shifts gears, quickly mobilizes all administra- tive resources to reorientate its policy control and bolster its regulatory capacity.<img src=\"https://static.tigerbbs.com/58cb4228c860070dfebe954a1a937a1e\" tg-width=\"1102\" tg-height=\"516\" referrerpolicy=\"no-referrer\">However, the abrupt shifts in policy tend to hurt market confi- dence and would benefit from more clarity: In past regulatory cycles, capital markets usually underperformed at the start, reflecting weaker market sentiment in the face of policy uncertainty, suggesting the need for greater policy communication. Historical patterns suggest that as an initial step to restore private sector confi- dence, minister-level officials attempt to clarify policy goals publicly. But if this communication is insufficient to temper concern and even- tually weakness in private confidence hurts the job market, top-level policymakers tend to step in.</li>\n</ul>\n<p>Here we can take 2H18 as an example, when the triple headwinds of deleveraging, regulatory tightening, and US-China trade tensions triggered market concerns about \"state advances, private sector retreats\". By then, while policymakers already shifted to an easing stance in July 2018 with PBoC's targeted RRR cut, followed by the Ministry of Finance's urge to accelerate local govt. bond issuance in August 2018, it did not stop the deterioration in broad credit growth&nbsp;and private sector confidence. In response, China's President con- vened a forum with entrepreneurs in November 2018 to send a clear signal on supporting private firms.</p>\n<p>We also see a similar pattern emerging from the government in trying to provide clarity in this cycle. For instance, China's Vice Premier spoke at a business forum on July 27, saying that the nation would \"strike a balance between growth and safety, to ensure social fairness and competition, and promote healthy development of the capital market\". According to Bloomberg, the China Securities Regulatory Commission (CSRC) also told major investment banks on July 28 that the education policies were targeted and not intended to hurt com- panies in other industries. Separately, the government of Zhejiang province (one of China's richest provinces) clarified in mid-July that the “common prosperity initiative” does not mean \"absolute equal\". We will be watchful on the potential impact of intensified regulations on private sector confidence, and see if the existing government clari- fications are sufficient to restore market sentiment.<img src=\"https://static.tigerbbs.com/0a679cb541385fed3b741397ff984c65\" tg-width=\"1134\" tg-height=\"398\" referrerpolicy=\"no-referrer\"><b>What is next?</b></p>\n<p>The salient shift of governance priorities from “growth first” to bal- anced growth and sustainability means that sectoral regulations will likely continue to be realigned with the broader goals of social equality and national security. We thus see potential new regulation and/or detailed implementation plans in the coming years for sectors associated with the rising tensions of income and wealth inequality, rapid fertility decline, environment, and national security risks amid post-Covid de-globalization.</p>\n<p>That said, as aforementioned, we think these regulations are more about rebalancing the rise in corporate power and the share of labor compensation, and would not necessarily view them through the lens of “state vs. private”. Therefore, while we expect regulatory tightening on data-rich tech firms, platform companies, property developers to continue, sectors in-line with China's new economic agenda should continue to get support, such as semiconductor local- ization, cybersecurity software, innovative biotech and pharmaceu- tical companies with well-differentiated drugs, mass consumption/ domestic brands, vocational training, and green economy-related investment. For more equity investment analysis, please refer to</p>\n<p>China Equity Strategy: Implications for Long-Term Valuation and ROE; Opportunities amid Headwinds &amp; Tailwinds . Understanding China's Regulatory Reset&nbsp;Are there signposts to help us navigate the outlook based on past regulatory changes?</p>\n<p>While China’s regulatory changes appear less transparent than western counterparts, we do observe similar cycles marked succes- sively by early warning signs, the formal process of drafting and releasing the regulatory documents, and official remarks signaling the end of the campaigns.</p>\n<p>1. Early warning signs: These include increased social aware- ness/anxiety, public discussions, and meaningful deterioration in major macro level indicators, usually lasting 1-2 years (or possibly longer). For example, the latest crackdown on after- school tutoring followed top leaders’ negative assessment of the sector’s impact on children back in Sep-2018, but rapid growth continued, imposing a significant financial burden on middle income households. The antitrust campaign on tech giants was preceded by years of discussion over the contro- versy from \"pick one from two\" – a practice that came under the spotlight in 2015, which means platforms force merchants to have exclusive partnerships or distribution channels. Meanwhile, prominent macro-level regulatory campaigns include the financial cleanup since 2017 (following the five- year rapid rise in debt-to-GDP ratios) and capacity cuts in 2016-18 (following multiyear PPI deflation that further deep- ened in 2015).<img src=\"https://static.tigerbbs.com/3f5352ef9df13a439c37493e9a8ca53c\" tg-width=\"1126\" tg-height=\"628\" referrerpolicy=\"no-referrer\">2. The start of the formal regulatory cycle: This is usually marked either by approval of draft regulations at high-level government meetings or the release of a publicly accessible version for comment. The final document usually publishes 9-12 months later. For example, the latest regulatory docu- ment on capital market irregularities had been drafted and approved last November. In addition, the government will often release detailed plans for implementation, accompa- nying the original (and usually high-level) guidelines.</p>\n<p>3. Signs of reaching the final stages: For regulatory campaigns that have progressed relatively more smoothly, policymakers usually declare good results in high-level meetings – such as&nbsp;\"decisive progress in the three critical battles against poverty, pollution and financial risk\" at the 2021 NPC. On the other hand, for campaigns that brought about meaningful side effects, policymakers tended to soften their stance by, for example, calling for more market- or law-based implementa- tions (e.g., the latter stage of the supply side reforms). In rare cases when private sentiment was severely undermined on a broad scale, China's top leadership has reaffirmed its policy support with measures such as VAT cuts, lower social insur- ance payment ratio, better funding support, and further reforms and opening up.<img src=\"https://static.tigerbbs.com/cc249af2f4c828e1675a81878fef5910\" tg-width=\"1094\" tg-height=\"966\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Emergence of new norm following the regulatory shocks:</b> Past experiences suggest that each regulatory wave tends to last for 1-2 years, during the start of which capital markets usually underper- formed amid rising risk premiums, but eventually the real economy and capital market adjusted to the new policy framework. As we argued above, most of the ongoing regulation (except for after- school tutoring) mainly focuses on striking a balance between the rise in corporate power and the share of labor compensation rather than aiming to revamp or terminate prevailing business models. In this sense, we believe the key signposts for an end to the current tech regulatory cycle could include:</p>\n<p>1. A resumption of offshore IPOs by Chinese firms within less data-sensitive sub-sectors,</p>\n<p>2. A systematic improvement in key digital platforms’ social ben- efit packages for flexible workers, and</p>\n<p>3. Major fintech companies getting the greenlight for IPOs after fully complying with regulatory requirements.</p>\n<p><b>Key policy risks to watch</b></p>\n<p>We think the key risks lie mainly in China's endogenous growth momentum and external funding. First, while our base case assumes that policymakers can strike a balance between regulation and pri- vate sector vitality under the new policy framework, an inherent tendency to over-regulate could stifle private sector confidence and innovation. Second, a lack of sufficient communication and coordina- tion would not only disrupt business operations, but could also dis- courage foreign investment amid additional informational and cultural barriers. These could slow the pace of capital formation and undermine overall productivity growth in the economy.</p>\n<p>Although some short-term pain arising from overdue regulation that follows a prolonged period of unregulated growth is inevitable, we see ways of mitigating the policy overhang.</p>\n<p>1. A more anticipatory regulation framework and forward guid- ance for emerging industries could offer greater visibility and transparency, giving businesses sufficient time to adjust.</p>\n<p>2. On policy coordination, regulatory policies would benefit from being pursued in an integrated manner in order to reduce trade-offs and maximize synergies. For example, it might be true that technology in the data era could boost growth, but it could also worsen income inequality, given its effect of favouring capital over labour and favouring skilled over unskilled labour. However, policymakers could narrow income disparities and help to defuse potential negative social impact by accelerating the urbanization 2.0 strategy and increasing fiscal transfers to optimize the social protection network.<img src=\"https://static.tigerbbs.com/30308333dcaae51b19d9d6df98163daa\" tg-width=\"1100\" tg-height=\"520\" referrerpolicy=\"no-referrer\"></p>\n<p></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>Morgan Stanley：China's Regulatory Reset</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\">\nMorgan Stanley：China's Regulatory Reset\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-08-20 11:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n Beijing is shifting its governance priorities to balancing growth and sustainability, tackling&nbsp;social equality and security with a major regulatory reset. It could rebalance the share of&nbsp;economy toward labor, lowering corporate profit share. We see a longer and more&nbsp;profound market impact.\n</blockquote>\n<p><i><b>New objective triggering major regulatory reset: </b></i>We are at a signifi- cant moment in the history of China’s economy and capital markets: after a decade-long journey to eliminate absolute poverty, Beijing is shifting governance priorities from growth to balancing growth and sustainability: social equality, data security, and self-sufficiency. China's new regulations on fintech, big tech, after-school tutoring, cryptocurrency, and carbon emissions over the past nine months underpin this major regulatory reset.</p>\n<p><i><b>Economic implications:</b></i> Under the new governance paradigm, China appears to be attempting to check the rise in corporate power and rebalance the share of the economy in favor of labor, which could result in decline in corporate profit share. We see regulatory head- winds for sectors associated with rising tensions of social inequality, environmental sustainability, and data security risks, while the new framework provides policy support to advanced manufacturing, tech localization, and renewable energy. We remain watchful of the risk of over-regulation, or, in contrast, resumption of offshore (Hong Kong) IPOs for tech companies, clarity over employment benefits and other issues concerning platform companies, progress on audit access dis- pute resolution, and clearer guidance from top policymakers to curb spillover effects of regulation changes.</p>\n<p><b><i>Investment implications:</i></b> We expect a longer and more profound impact from the current regulatory cycle on China's equity market valuations and Equity Risk Premium (ERP) than has occurred in sim- ilar past cycles, as it is affecting a more substantial proportion of the market than previously and, in particular, the Internet sector, which accounts for ~40% of MSCI China by index weight. There is a substan- tial degree of uncertainty over what this means both for future net income margins and revenue growth for the affected sectors and stocks.</p>\n<p>Our current base case forward P/E target for MSCI China of 13.0x implies MSCI China would trade on a mid-single-digit percentage val- uation discount to MSCI EM ex China for a sustained period of time. Over time we expect the MSCI China universe to gradually have a more balanced sector allocation with a reduced weight for Internet and a higher weight for sectors like Industrials and IT.</p>\n<p><i><b>Challenges and opportunities by segment/theme</b></i>: Data-heavy tech and platform companies and property could remain under pressure amid the regulatory reset, while semi localization, cybersecurity, domestic brands catering to the mass market, innovative drugs, bio- tech, and green economy may enjoy support.</p>\n<p><b>5&nbsp;Key Charts at a Glance</b></p>\n<p>A shift from \"growth first\" to balancing growth and sustainability...<img src=\"https://static.tigerbbs.com/2da734c8c3853c4f5e3ef9f420b44128\" tg-width=\"1384\" tg-height=\"422\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/45ef8f29c3d6672ff460eb2c2f53e4bd\" tg-width=\"1372\" tg-height=\"736\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/d0f6b44f17975c68e81956d1f48f1a1f\" tg-width=\"1420\" tg-height=\"720\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/28739534c43a8f4ad6130734def1060e\" tg-width=\"1396\" tg-height=\"998\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/081b21f4492f2e201aa01ce3bf0cc0cf\" tg-width=\"1442\" tg-height=\"708\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/d9e0b9b6480a2b1c9c338ece5db0f691\" tg-width=\"1378\" tg-height=\"938\" referrerpolicy=\"no-referrer\"><b>Challenges and opportunities by segment/theme</b><img src=\"https://static.tigerbbs.com/ee2a916e7de802073a0628962cc2cfe6\" tg-width=\"1114\" tg-height=\"1170\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/9ab4ef36aba8f43d66471c352d81a93f\" tg-width=\"1118\" tg-height=\"690\" referrerpolicy=\"no-referrer\"><b>Understanding China's Regulatory Reset</b></p>\n<p>New era, new objective...</p>\n<p>We believe the recent regulatory tightening reflects a shift in China's governance priorities from \"growth first\" to balancing growth and sustainability – i.e., security, self-sufficiency, and social equality. In the last decade Beijing said its key goal was to double per capita income and eliminate absolute poverty (President Xi’s inaugural speech in Nov. 2012), i.e., giving highest priority to growth. However, this \"pro-growth\" strategy also led to higher inequality and social problems due to lack of regulations on emerging sectors, pointing to the importance of \"pro-poor\" measures as a complement (see World Bank (2004): Pro-growth, pro-poor: Is there a tradeoff?). Now, the government is emphasizing “getting rich together” (common prosperity) as the new objective for the next stage of development in the midst of the CCP's 100-year anniversary, and aims to \"prevent the unbridled expansion of capital\" by intro- ducing a range of KPIs besides economic growth, which covers social equality, supply chain self-sufficiency and data security in the face of rising secular risks – income inequality, US-China tensions, and aging demographics.</p>\n<p>Reflecting this reorientation, policymakers have intensified regu- lations in the past 9 months over fintech, big tech (anti-trust, data regulation and employee protection), after-school tutoring, crypto- currency, carbon emissions and overseas IPO rules. The anti-trust campaign has mainly targeted the prevention of tech giants from an over-concentration of market power and eroding welfare of smaller businesses and outsourced employees; the fintech regulation serves&nbsp;the purpose of curbing regulatory arbitrage and financial stability risks; and the increased scrutiny over Chinese ADRs and cross-border data flow in July 2021 mainly focuses on reducing risks of security amid lingering geopolitical tensions. Similarly, the recent regulatory changes to after-school tutoring are part of policy efforts to reduce child-raising costs.</p>\n<p>In short, China is trying to rebalance the rise in corporate power and the share of labor compensation, and this may lead to some systematic de-rating in valuations for some sectors. Having said that, policymakers will have to strike a balance, as China's ambition to thrive as an economic super power will require it to ensure con- tinued private sector vitality to spur innovation and further RMB internationalization to attract capital inflows, so as to sustain long- term productivity growth. While the new regulations introduce more requirements on social responsibility and data usage, and might lead to some increase in margin pressures for related enterprises, we think they will not disrupt business models for most sectors (except for after-school tutoring). For instance, the anti-trust law mainly focuses on banning tech-giants from requiring merchants to sign exclusive cooperation pacts, while the government's guidance on enhancing flexible workers' social benefits mainly requires food delivery platforms to pay healthcare and pension coverage for out- sourced employees. Online goods sales have also held up quite well recently despite the tech regulation campaign starting from late last year. Meanwhile, some regulatory changes are supportive for advanced manufacturing, hardware localization, and clean energy supply chain.<img src=\"https://static.tigerbbs.com/aed81f65a92f4b2731263273025f4a53\" tg-width=\"1108\" tg-height=\"328\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/cb0dce11e47f8023f88a4ab2622f89e6\" tg-width=\"1128\" tg-height=\"700\" referrerpolicy=\"no-referrer\">...but history rhymes</p>\n<p>While many of the regulations appear long-overdue and make sense (for example on fintech, anti-trust and outsourced labour protec- tion), the pace of changes in last 9 months has caught the market off-guard as a seemingly arbitrary shift in direction.</p>\n<p>Why has it occurred in such fashion? We have indeed seen this movie many times: China’s regulatory environments have tended to oscillate between relaxed and tight enforcement, especially in emerging sectors. But this has tended to result in an abrupt regula- tory reset. Before the current reversal in regulating big tech, China had a regulation campaign on mining (2006-2009), dairy (2008- 2010), high-end dining and liquor (2013-2014), irrational capital out-&nbsp;flows (2016-17), gaming (2018), and drugs (2018-2019) – most lasting for one to two years. The sharp shifts in regulatory changes have been largely due to the fact that regulations have tended to lag a period of exponential growth in the sector:</p>\n<ul>\n <li>Relaxed stage: Local government support, pro-growth men- tality and business interests together contributed to a lag in regulating emerging sectors.</li>\n <li>Tight regulation stage: When a problem is looming as evi- denced by public opinion and/or financial stability indicators, the top leadership shifts gears, quickly mobilizes all administra- tive resources to reorientate its policy control and bolster its regulatory capacity.<img src=\"https://static.tigerbbs.com/58cb4228c860070dfebe954a1a937a1e\" tg-width=\"1102\" tg-height=\"516\" referrerpolicy=\"no-referrer\">However, the abrupt shifts in policy tend to hurt market confi- dence and would benefit from more clarity: In past regulatory cycles, capital markets usually underperformed at the start, reflecting weaker market sentiment in the face of policy uncertainty, suggesting the need for greater policy communication. Historical patterns suggest that as an initial step to restore private sector confi- dence, minister-level officials attempt to clarify policy goals publicly. But if this communication is insufficient to temper concern and even- tually weakness in private confidence hurts the job market, top-level policymakers tend to step in.</li>\n</ul>\n<p>Here we can take 2H18 as an example, when the triple headwinds of deleveraging, regulatory tightening, and US-China trade tensions triggered market concerns about \"state advances, private sector retreats\". By then, while policymakers already shifted to an easing stance in July 2018 with PBoC's targeted RRR cut, followed by the Ministry of Finance's urge to accelerate local govt. bond issuance in August 2018, it did not stop the deterioration in broad credit growth&nbsp;and private sector confidence. In response, China's President con- vened a forum with entrepreneurs in November 2018 to send a clear signal on supporting private firms.</p>\n<p>We also see a similar pattern emerging from the government in trying to provide clarity in this cycle. For instance, China's Vice Premier spoke at a business forum on July 27, saying that the nation would \"strike a balance between growth and safety, to ensure social fairness and competition, and promote healthy development of the capital market\". According to Bloomberg, the China Securities Regulatory Commission (CSRC) also told major investment banks on July 28 that the education policies were targeted and not intended to hurt com- panies in other industries. Separately, the government of Zhejiang province (one of China's richest provinces) clarified in mid-July that the “common prosperity initiative” does not mean \"absolute equal\". We will be watchful on the potential impact of intensified regulations on private sector confidence, and see if the existing government clari- fications are sufficient to restore market sentiment.<img src=\"https://static.tigerbbs.com/0a679cb541385fed3b741397ff984c65\" tg-width=\"1134\" tg-height=\"398\" referrerpolicy=\"no-referrer\"><b>What is next?</b></p>\n<p>The salient shift of governance priorities from “growth first” to bal- anced growth and sustainability means that sectoral regulations will likely continue to be realigned with the broader goals of social equality and national security. We thus see potential new regulation and/or detailed implementation plans in the coming years for sectors associated with the rising tensions of income and wealth inequality, rapid fertility decline, environment, and national security risks amid post-Covid de-globalization.</p>\n<p>That said, as aforementioned, we think these regulations are more about rebalancing the rise in corporate power and the share of labor compensation, and would not necessarily view them through the lens of “state vs. private”. Therefore, while we expect regulatory tightening on data-rich tech firms, platform companies, property developers to continue, sectors in-line with China's new economic agenda should continue to get support, such as semiconductor local- ization, cybersecurity software, innovative biotech and pharmaceu- tical companies with well-differentiated drugs, mass consumption/ domestic brands, vocational training, and green economy-related investment. For more equity investment analysis, please refer to</p>\n<p>China Equity Strategy: Implications for Long-Term Valuation and ROE; Opportunities amid Headwinds &amp; Tailwinds . Understanding China's Regulatory Reset&nbsp;Are there signposts to help us navigate the outlook based on past regulatory changes?</p>\n<p>While China’s regulatory changes appear less transparent than western counterparts, we do observe similar cycles marked succes- sively by early warning signs, the formal process of drafting and releasing the regulatory documents, and official remarks signaling the end of the campaigns.</p>\n<p>1. Early warning signs: These include increased social aware- ness/anxiety, public discussions, and meaningful deterioration in major macro level indicators, usually lasting 1-2 years (or possibly longer). For example, the latest crackdown on after- school tutoring followed top leaders’ negative assessment of the sector’s impact on children back in Sep-2018, but rapid growth continued, imposing a significant financial burden on middle income households. The antitrust campaign on tech giants was preceded by years of discussion over the contro- versy from \"pick one from two\" – a practice that came under the spotlight in 2015, which means platforms force merchants to have exclusive partnerships or distribution channels. Meanwhile, prominent macro-level regulatory campaigns include the financial cleanup since 2017 (following the five- year rapid rise in debt-to-GDP ratios) and capacity cuts in 2016-18 (following multiyear PPI deflation that further deep- ened in 2015).<img src=\"https://static.tigerbbs.com/3f5352ef9df13a439c37493e9a8ca53c\" tg-width=\"1126\" tg-height=\"628\" referrerpolicy=\"no-referrer\">2. The start of the formal regulatory cycle: This is usually marked either by approval of draft regulations at high-level government meetings or the release of a publicly accessible version for comment. The final document usually publishes 9-12 months later. For example, the latest regulatory docu- ment on capital market irregularities had been drafted and approved last November. In addition, the government will often release detailed plans for implementation, accompa- nying the original (and usually high-level) guidelines.</p>\n<p>3. Signs of reaching the final stages: For regulatory campaigns that have progressed relatively more smoothly, policymakers usually declare good results in high-level meetings – such as&nbsp;\"decisive progress in the three critical battles against poverty, pollution and financial risk\" at the 2021 NPC. On the other hand, for campaigns that brought about meaningful side effects, policymakers tended to soften their stance by, for example, calling for more market- or law-based implementa- tions (e.g., the latter stage of the supply side reforms). In rare cases when private sentiment was severely undermined on a broad scale, China's top leadership has reaffirmed its policy support with measures such as VAT cuts, lower social insur- ance payment ratio, better funding support, and further reforms and opening up.<img src=\"https://static.tigerbbs.com/cc249af2f4c828e1675a81878fef5910\" tg-width=\"1094\" tg-height=\"966\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Emergence of new norm following the regulatory shocks:</b> Past experiences suggest that each regulatory wave tends to last for 1-2 years, during the start of which capital markets usually underper- formed amid rising risk premiums, but eventually the real economy and capital market adjusted to the new policy framework. As we argued above, most of the ongoing regulation (except for after- school tutoring) mainly focuses on striking a balance between the rise in corporate power and the share of labor compensation rather than aiming to revamp or terminate prevailing business models. In this sense, we believe the key signposts for an end to the current tech regulatory cycle could include:</p>\n<p>1. A resumption of offshore IPOs by Chinese firms within less data-sensitive sub-sectors,</p>\n<p>2. A systematic improvement in key digital platforms’ social ben- efit packages for flexible workers, and</p>\n<p>3. Major fintech companies getting the greenlight for IPOs after fully complying with regulatory requirements.</p>\n<p><b>Key policy risks to watch</b></p>\n<p>We think the key risks lie mainly in China's endogenous growth momentum and external funding. First, while our base case assumes that policymakers can strike a balance between regulation and pri- vate sector vitality under the new policy framework, an inherent tendency to over-regulate could stifle private sector confidence and innovation. Second, a lack of sufficient communication and coordina- tion would not only disrupt business operations, but could also dis- courage foreign investment amid additional informational and cultural barriers. These could slow the pace of capital formation and undermine overall productivity growth in the economy.</p>\n<p>Although some short-term pain arising from overdue regulation that follows a prolonged period of unregulated growth is inevitable, we see ways of mitigating the policy overhang.</p>\n<p>1. A more anticipatory regulation framework and forward guid- ance for emerging industries could offer greater visibility and transparency, giving businesses sufficient time to adjust.</p>\n<p>2. On policy coordination, regulatory policies would benefit from being pursued in an integrated manner in order to reduce trade-offs and maximize synergies. For example, it might be true that technology in the data era could boost growth, but it could also worsen income inequality, given its effect of favouring capital over labour and favouring skilled over unskilled labour. However, policymakers could narrow income disparities and help to defuse potential negative social impact by accelerating the urbanization 2.0 strategy and increasing fiscal transfers to optimize the social protection network.<img src=\"https://static.tigerbbs.com/30308333dcaae51b19d9d6df98163daa\" tg-width=\"1100\" tg-height=\"520\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113659023","content_text":"Beijing is shifting its governance priorities to balancing growth and sustainability, tackling social equality and security with a major regulatory reset. It could rebalance the share of economy toward labor, lowering corporate profit share. We see a longer and more profound market impact.\n\nNew objective triggering major regulatory reset: We are at a signifi- cant moment in the history of China’s economy and capital markets: after a decade-long journey to eliminate absolute poverty, Beijing is shifting governance priorities from growth to balancing growth and sustainability: social equality, data security, and self-sufficiency. China's new regulations on fintech, big tech, after-school tutoring, cryptocurrency, and carbon emissions over the past nine months underpin this major regulatory reset.\nEconomic implications: Under the new governance paradigm, China appears to be attempting to check the rise in corporate power and rebalance the share of the economy in favor of labor, which could result in decline in corporate profit share. We see regulatory head- winds for sectors associated with rising tensions of social inequality, environmental sustainability, and data security risks, while the new framework provides policy support to advanced manufacturing, tech localization, and renewable energy. We remain watchful of the risk of over-regulation, or, in contrast, resumption of offshore (Hong Kong) IPOs for tech companies, clarity over employment benefits and other issues concerning platform companies, progress on audit access dis- pute resolution, and clearer guidance from top policymakers to curb spillover effects of regulation changes.\nInvestment implications: We expect a longer and more profound impact from the current regulatory cycle on China's equity market valuations and Equity Risk Premium (ERP) than has occurred in sim- ilar past cycles, as it is affecting a more substantial proportion of the market than previously and, in particular, the Internet sector, which accounts for ~40% of MSCI China by index weight. There is a substan- tial degree of uncertainty over what this means both for future net income margins and revenue growth for the affected sectors and stocks.\nOur current base case forward P/E target for MSCI China of 13.0x implies MSCI China would trade on a mid-single-digit percentage val- uation discount to MSCI EM ex China for a sustained period of time. Over time we expect the MSCI China universe to gradually have a more balanced sector allocation with a reduced weight for Internet and a higher weight for sectors like Industrials and IT.\nChallenges and opportunities by segment/theme: Data-heavy tech and platform companies and property could remain under pressure amid the regulatory reset, while semi localization, cybersecurity, domestic brands catering to the mass market, innovative drugs, bio- tech, and green economy may enjoy support.\n5 Key Charts at a Glance\nA shift from \"growth first\" to balancing growth and sustainability...Challenges and opportunities by segment/themeUnderstanding China's Regulatory Reset\nNew era, new objective...\nWe believe the recent regulatory tightening reflects a shift in China's governance priorities from \"growth first\" to balancing growth and sustainability – i.e., security, self-sufficiency, and social equality. In the last decade Beijing said its key goal was to double per capita income and eliminate absolute poverty (President Xi’s inaugural speech in Nov. 2012), i.e., giving highest priority to growth. However, this \"pro-growth\" strategy also led to higher inequality and social problems due to lack of regulations on emerging sectors, pointing to the importance of \"pro-poor\" measures as a complement (see World Bank (2004): Pro-growth, pro-poor: Is there a tradeoff?). Now, the government is emphasizing “getting rich together” (common prosperity) as the new objective for the next stage of development in the midst of the CCP's 100-year anniversary, and aims to \"prevent the unbridled expansion of capital\" by intro- ducing a range of KPIs besides economic growth, which covers social equality, supply chain self-sufficiency and data security in the face of rising secular risks – income inequality, US-China tensions, and aging demographics.\nReflecting this reorientation, policymakers have intensified regu- lations in the past 9 months over fintech, big tech (anti-trust, data regulation and employee protection), after-school tutoring, crypto- currency, carbon emissions and overseas IPO rules. The anti-trust campaign has mainly targeted the prevention of tech giants from an over-concentration of market power and eroding welfare of smaller businesses and outsourced employees; the fintech regulation serves the purpose of curbing regulatory arbitrage and financial stability risks; and the increased scrutiny over Chinese ADRs and cross-border data flow in July 2021 mainly focuses on reducing risks of security amid lingering geopolitical tensions. Similarly, the recent regulatory changes to after-school tutoring are part of policy efforts to reduce child-raising costs.\nIn short, China is trying to rebalance the rise in corporate power and the share of labor compensation, and this may lead to some systematic de-rating in valuations for some sectors. Having said that, policymakers will have to strike a balance, as China's ambition to thrive as an economic super power will require it to ensure con- tinued private sector vitality to spur innovation and further RMB internationalization to attract capital inflows, so as to sustain long- term productivity growth. While the new regulations introduce more requirements on social responsibility and data usage, and might lead to some increase in margin pressures for related enterprises, we think they will not disrupt business models for most sectors (except for after-school tutoring). For instance, the anti-trust law mainly focuses on banning tech-giants from requiring merchants to sign exclusive cooperation pacts, while the government's guidance on enhancing flexible workers' social benefits mainly requires food delivery platforms to pay healthcare and pension coverage for out- sourced employees. Online goods sales have also held up quite well recently despite the tech regulation campaign starting from late last year. Meanwhile, some regulatory changes are supportive for advanced manufacturing, hardware localization, and clean energy supply chain....but history rhymes\nWhile many of the regulations appear long-overdue and make sense (for example on fintech, anti-trust and outsourced labour protec- tion), the pace of changes in last 9 months has caught the market off-guard as a seemingly arbitrary shift in direction.\nWhy has it occurred in such fashion? We have indeed seen this movie many times: China’s regulatory environments have tended to oscillate between relaxed and tight enforcement, especially in emerging sectors. But this has tended to result in an abrupt regula- tory reset. Before the current reversal in regulating big tech, China had a regulation campaign on mining (2006-2009), dairy (2008- 2010), high-end dining and liquor (2013-2014), irrational capital out- flows (2016-17), gaming (2018), and drugs (2018-2019) – most lasting for one to two years. The sharp shifts in regulatory changes have been largely due to the fact that regulations have tended to lag a period of exponential growth in the sector:\n\nRelaxed stage: Local government support, pro-growth men- tality and business interests together contributed to a lag in regulating emerging sectors.\nTight regulation stage: When a problem is looming as evi- denced by public opinion and/or financial stability indicators, the top leadership shifts gears, quickly mobilizes all administra- tive resources to reorientate its policy control and bolster its regulatory capacity.However, the abrupt shifts in policy tend to hurt market confi- dence and would benefit from more clarity: In past regulatory cycles, capital markets usually underperformed at the start, reflecting weaker market sentiment in the face of policy uncertainty, suggesting the need for greater policy communication. Historical patterns suggest that as an initial step to restore private sector confi- dence, minister-level officials attempt to clarify policy goals publicly. But if this communication is insufficient to temper concern and even- tually weakness in private confidence hurts the job market, top-level policymakers tend to step in.\n\nHere we can take 2H18 as an example, when the triple headwinds of deleveraging, regulatory tightening, and US-China trade tensions triggered market concerns about \"state advances, private sector retreats\". By then, while policymakers already shifted to an easing stance in July 2018 with PBoC's targeted RRR cut, followed by the Ministry of Finance's urge to accelerate local govt. bond issuance in August 2018, it did not stop the deterioration in broad credit growth and private sector confidence. In response, China's President con- vened a forum with entrepreneurs in November 2018 to send a clear signal on supporting private firms.\nWe also see a similar pattern emerging from the government in trying to provide clarity in this cycle. For instance, China's Vice Premier spoke at a business forum on July 27, saying that the nation would \"strike a balance between growth and safety, to ensure social fairness and competition, and promote healthy development of the capital market\". According to Bloomberg, the China Securities Regulatory Commission (CSRC) also told major investment banks on July 28 that the education policies were targeted and not intended to hurt com- panies in other industries. Separately, the government of Zhejiang province (one of China's richest provinces) clarified in mid-July that the “common prosperity initiative” does not mean \"absolute equal\". We will be watchful on the potential impact of intensified regulations on private sector confidence, and see if the existing government clari- fications are sufficient to restore market sentiment.What is next?\nThe salient shift of governance priorities from “growth first” to bal- anced growth and sustainability means that sectoral regulations will likely continue to be realigned with the broader goals of social equality and national security. We thus see potential new regulation and/or detailed implementation plans in the coming years for sectors associated with the rising tensions of income and wealth inequality, rapid fertility decline, environment, and national security risks amid post-Covid de-globalization.\nThat said, as aforementioned, we think these regulations are more about rebalancing the rise in corporate power and the share of labor compensation, and would not necessarily view them through the lens of “state vs. private”. Therefore, while we expect regulatory tightening on data-rich tech firms, platform companies, property developers to continue, sectors in-line with China's new economic agenda should continue to get support, such as semiconductor local- ization, cybersecurity software, innovative biotech and pharmaceu- tical companies with well-differentiated drugs, mass consumption/ domestic brands, vocational training, and green economy-related investment. For more equity investment analysis, please refer to\nChina Equity Strategy: Implications for Long-Term Valuation and ROE; Opportunities amid Headwinds & Tailwinds . Understanding China's Regulatory Reset Are there signposts to help us navigate the outlook based on past regulatory changes?\nWhile China’s regulatory changes appear less transparent than western counterparts, we do observe similar cycles marked succes- sively by early warning signs, the formal process of drafting and releasing the regulatory documents, and official remarks signaling the end of the campaigns.\n1. Early warning signs: These include increased social aware- ness/anxiety, public discussions, and meaningful deterioration in major macro level indicators, usually lasting 1-2 years (or possibly longer). For example, the latest crackdown on after- school tutoring followed top leaders’ negative assessment of the sector’s impact on children back in Sep-2018, but rapid growth continued, imposing a significant financial burden on middle income households. The antitrust campaign on tech giants was preceded by years of discussion over the contro- versy from \"pick one from two\" – a practice that came under the spotlight in 2015, which means platforms force merchants to have exclusive partnerships or distribution channels. Meanwhile, prominent macro-level regulatory campaigns include the financial cleanup since 2017 (following the five- year rapid rise in debt-to-GDP ratios) and capacity cuts in 2016-18 (following multiyear PPI deflation that further deep- ened in 2015).2. The start of the formal regulatory cycle: This is usually marked either by approval of draft regulations at high-level government meetings or the release of a publicly accessible version for comment. The final document usually publishes 9-12 months later. For example, the latest regulatory docu- ment on capital market irregularities had been drafted and approved last November. In addition, the government will often release detailed plans for implementation, accompa- nying the original (and usually high-level) guidelines.\n3. Signs of reaching the final stages: For regulatory campaigns that have progressed relatively more smoothly, policymakers usually declare good results in high-level meetings – such as \"decisive progress in the three critical battles against poverty, pollution and financial risk\" at the 2021 NPC. On the other hand, for campaigns that brought about meaningful side effects, policymakers tended to soften their stance by, for example, calling for more market- or law-based implementa- tions (e.g., the latter stage of the supply side reforms). In rare cases when private sentiment was severely undermined on a broad scale, China's top leadership has reaffirmed its policy support with measures such as VAT cuts, lower social insur- ance payment ratio, better funding support, and further reforms and opening up.\nEmergence of new norm following the regulatory shocks: Past experiences suggest that each regulatory wave tends to last for 1-2 years, during the start of which capital markets usually underper- formed amid rising risk premiums, but eventually the real economy and capital market adjusted to the new policy framework. As we argued above, most of the ongoing regulation (except for after- school tutoring) mainly focuses on striking a balance between the rise in corporate power and the share of labor compensation rather than aiming to revamp or terminate prevailing business models. In this sense, we believe the key signposts for an end to the current tech regulatory cycle could include:\n1. A resumption of offshore IPOs by Chinese firms within less data-sensitive sub-sectors,\n2. A systematic improvement in key digital platforms’ social ben- efit packages for flexible workers, and\n3. Major fintech companies getting the greenlight for IPOs after fully complying with regulatory requirements.\nKey policy risks to watch\nWe think the key risks lie mainly in China's endogenous growth momentum and external funding. First, while our base case assumes that policymakers can strike a balance between regulation and pri- vate sector vitality under the new policy framework, an inherent tendency to over-regulate could stifle private sector confidence and innovation. Second, a lack of sufficient communication and coordina- tion would not only disrupt business operations, but could also dis- courage foreign investment amid additional informational and cultural barriers. These could slow the pace of capital formation and undermine overall productivity growth in the economy.\nAlthough some short-term pain arising from overdue regulation that follows a prolonged period of unregulated growth is inevitable, we see ways of mitigating the policy overhang.\n1. A more anticipatory regulation framework and forward guid- ance for emerging industries could offer greater visibility and transparency, giving businesses sufficient time to adjust.\n2. On policy coordination, regulatory policies would benefit from being pursued in an integrated manner in order to reduce trade-offs and maximize synergies. For example, it might be true that technology in the data era could boost growth, but it could also worsen income inequality, given its effect of favouring capital over labour and favouring skilled over unskilled labour. However, policymakers could narrow income disparities and help to defuse potential negative social impact by accelerating the urbanization 2.0 strategy and increasing fiscal transfers to optimize the social protection network.","news_type":1},"isVote":1,"tweetType":1,"viewCount":600,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":838754908,"gmtCreate":1629431957904,"gmtModify":1676530039488,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"They forget about covid like non existing from the report","listText":"They forget about covid like non existing from the report","text":"They forget about covid like non existing from the report","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/838754908","repostId":"1113659023","repostType":4,"repost":{"id":"1113659023","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1629430265,"share":"https://ttm.financial/m/news/1113659023?lang=&edition=fundamental","pubTime":"2021-08-20 11:31","market":"hk","language":"en","title":"Morgan Stanley：China's Regulatory Reset","url":"https://stock-news.laohu8.com/highlight/detail?id=1113659023","media":"Tiger Newspress","summary":"Beijing is shifting its governance priorities to balancing growth and sustainability, tackling social equality and security with a major regulatory reset. It could rebalance the share of economy toward labor, lowering corporate profit share. We see a longer and more profound market impact.New objective triggering major regulatory reset: We are at a signifi- cant moment in the history of China’s economy and capital markets: after a decade-long journey to eliminate absolute poverty, Beijing is shi","content":"<blockquote>\n Beijing is shifting its governance priorities to balancing growth and sustainability, tackling&nbsp;social equality and security with a major regulatory reset. It could rebalance the share of&nbsp;economy toward labor, lowering corporate profit share. We see a longer and more&nbsp;profound market impact.\n</blockquote>\n<p><i><b>New objective triggering major regulatory reset: </b></i>We are at a signifi- cant moment in the history of China’s economy and capital markets: after a decade-long journey to eliminate absolute poverty, Beijing is shifting governance priorities from growth to balancing growth and sustainability: social equality, data security, and self-sufficiency. China's new regulations on fintech, big tech, after-school tutoring, cryptocurrency, and carbon emissions over the past nine months underpin this major regulatory reset.</p>\n<p><i><b>Economic implications:</b></i> Under the new governance paradigm, China appears to be attempting to check the rise in corporate power and rebalance the share of the economy in favor of labor, which could result in decline in corporate profit share. We see regulatory head- winds for sectors associated with rising tensions of social inequality, environmental sustainability, and data security risks, while the new framework provides policy support to advanced manufacturing, tech localization, and renewable energy. We remain watchful of the risk of over-regulation, or, in contrast, resumption of offshore (Hong Kong) IPOs for tech companies, clarity over employment benefits and other issues concerning platform companies, progress on audit access dis- pute resolution, and clearer guidance from top policymakers to curb spillover effects of regulation changes.</p>\n<p><b><i>Investment implications:</i></b> We expect a longer and more profound impact from the current regulatory cycle on China's equity market valuations and Equity Risk Premium (ERP) than has occurred in sim- ilar past cycles, as it is affecting a more substantial proportion of the market than previously and, in particular, the Internet sector, which accounts for ~40% of MSCI China by index weight. There is a substan- tial degree of uncertainty over what this means both for future net income margins and revenue growth for the affected sectors and stocks.</p>\n<p>Our current base case forward P/E target for MSCI China of 13.0x implies MSCI China would trade on a mid-single-digit percentage val- uation discount to MSCI EM ex China for a sustained period of time. Over time we expect the MSCI China universe to gradually have a more balanced sector allocation with a reduced weight for Internet and a higher weight for sectors like Industrials and IT.</p>\n<p><i><b>Challenges and opportunities by segment/theme</b></i>: Data-heavy tech and platform companies and property could remain under pressure amid the regulatory reset, while semi localization, cybersecurity, domestic brands catering to the mass market, innovative drugs, bio- tech, and green economy may enjoy support.</p>\n<p><b>5&nbsp;Key Charts at a Glance</b></p>\n<p>A shift from \"growth first\" to balancing growth and sustainability...<img src=\"https://static.tigerbbs.com/2da734c8c3853c4f5e3ef9f420b44128\" tg-width=\"1384\" tg-height=\"422\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/45ef8f29c3d6672ff460eb2c2f53e4bd\" tg-width=\"1372\" tg-height=\"736\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/d0f6b44f17975c68e81956d1f48f1a1f\" tg-width=\"1420\" tg-height=\"720\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/28739534c43a8f4ad6130734def1060e\" tg-width=\"1396\" tg-height=\"998\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/081b21f4492f2e201aa01ce3bf0cc0cf\" tg-width=\"1442\" tg-height=\"708\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/d9e0b9b6480a2b1c9c338ece5db0f691\" tg-width=\"1378\" tg-height=\"938\" referrerpolicy=\"no-referrer\"><b>Challenges and opportunities by segment/theme</b><img src=\"https://static.tigerbbs.com/ee2a916e7de802073a0628962cc2cfe6\" tg-width=\"1114\" tg-height=\"1170\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/9ab4ef36aba8f43d66471c352d81a93f\" tg-width=\"1118\" tg-height=\"690\" referrerpolicy=\"no-referrer\"><b>Understanding China's Regulatory Reset</b></p>\n<p>New era, new objective...</p>\n<p>We believe the recent regulatory tightening reflects a shift in China's governance priorities from \"growth first\" to balancing growth and sustainability – i.e., security, self-sufficiency, and social equality. In the last decade Beijing said its key goal was to double per capita income and eliminate absolute poverty (President Xi’s inaugural speech in Nov. 2012), i.e., giving highest priority to growth. However, this \"pro-growth\" strategy also led to higher inequality and social problems due to lack of regulations on emerging sectors, pointing to the importance of \"pro-poor\" measures as a complement (see World Bank (2004): Pro-growth, pro-poor: Is there a tradeoff?). Now, the government is emphasizing “getting rich together” (common prosperity) as the new objective for the next stage of development in the midst of the CCP's 100-year anniversary, and aims to \"prevent the unbridled expansion of capital\" by intro- ducing a range of KPIs besides economic growth, which covers social equality, supply chain self-sufficiency and data security in the face of rising secular risks – income inequality, US-China tensions, and aging demographics.</p>\n<p>Reflecting this reorientation, policymakers have intensified regu- lations in the past 9 months over fintech, big tech (anti-trust, data regulation and employee protection), after-school tutoring, crypto- currency, carbon emissions and overseas IPO rules. The anti-trust campaign has mainly targeted the prevention of tech giants from an over-concentration of market power and eroding welfare of smaller businesses and outsourced employees; the fintech regulation serves&nbsp;the purpose of curbing regulatory arbitrage and financial stability risks; and the increased scrutiny over Chinese ADRs and cross-border data flow in July 2021 mainly focuses on reducing risks of security amid lingering geopolitical tensions. Similarly, the recent regulatory changes to after-school tutoring are part of policy efforts to reduce child-raising costs.</p>\n<p>In short, China is trying to rebalance the rise in corporate power and the share of labor compensation, and this may lead to some systematic de-rating in valuations for some sectors. Having said that, policymakers will have to strike a balance, as China's ambition to thrive as an economic super power will require it to ensure con- tinued private sector vitality to spur innovation and further RMB internationalization to attract capital inflows, so as to sustain long- term productivity growth. While the new regulations introduce more requirements on social responsibility and data usage, and might lead to some increase in margin pressures for related enterprises, we think they will not disrupt business models for most sectors (except for after-school tutoring). For instance, the anti-trust law mainly focuses on banning tech-giants from requiring merchants to sign exclusive cooperation pacts, while the government's guidance on enhancing flexible workers' social benefits mainly requires food delivery platforms to pay healthcare and pension coverage for out- sourced employees. Online goods sales have also held up quite well recently despite the tech regulation campaign starting from late last year. Meanwhile, some regulatory changes are supportive for advanced manufacturing, hardware localization, and clean energy supply chain.<img src=\"https://static.tigerbbs.com/aed81f65a92f4b2731263273025f4a53\" tg-width=\"1108\" tg-height=\"328\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/cb0dce11e47f8023f88a4ab2622f89e6\" tg-width=\"1128\" tg-height=\"700\" referrerpolicy=\"no-referrer\">...but history rhymes</p>\n<p>While many of the regulations appear long-overdue and make sense (for example on fintech, anti-trust and outsourced labour protec- tion), the pace of changes in last 9 months has caught the market off-guard as a seemingly arbitrary shift in direction.</p>\n<p>Why has it occurred in such fashion? We have indeed seen this movie many times: China’s regulatory environments have tended to oscillate between relaxed and tight enforcement, especially in emerging sectors. But this has tended to result in an abrupt regula- tory reset. Before the current reversal in regulating big tech, China had a regulation campaign on mining (2006-2009), dairy (2008- 2010), high-end dining and liquor (2013-2014), irrational capital out-&nbsp;flows (2016-17), gaming (2018), and drugs (2018-2019) – most lasting for one to two years. The sharp shifts in regulatory changes have been largely due to the fact that regulations have tended to lag a period of exponential growth in the sector:</p>\n<ul>\n <li>Relaxed stage: Local government support, pro-growth men- tality and business interests together contributed to a lag in regulating emerging sectors.</li>\n <li>Tight regulation stage: When a problem is looming as evi- denced by public opinion and/or financial stability indicators, the top leadership shifts gears, quickly mobilizes all administra- tive resources to reorientate its policy control and bolster its regulatory capacity.<img src=\"https://static.tigerbbs.com/58cb4228c860070dfebe954a1a937a1e\" tg-width=\"1102\" tg-height=\"516\" referrerpolicy=\"no-referrer\">However, the abrupt shifts in policy tend to hurt market confi- dence and would benefit from more clarity: In past regulatory cycles, capital markets usually underperformed at the start, reflecting weaker market sentiment in the face of policy uncertainty, suggesting the need for greater policy communication. Historical patterns suggest that as an initial step to restore private sector confi- dence, minister-level officials attempt to clarify policy goals publicly. But if this communication is insufficient to temper concern and even- tually weakness in private confidence hurts the job market, top-level policymakers tend to step in.</li>\n</ul>\n<p>Here we can take 2H18 as an example, when the triple headwinds of deleveraging, regulatory tightening, and US-China trade tensions triggered market concerns about \"state advances, private sector retreats\". By then, while policymakers already shifted to an easing stance in July 2018 with PBoC's targeted RRR cut, followed by the Ministry of Finance's urge to accelerate local govt. bond issuance in August 2018, it did not stop the deterioration in broad credit growth&nbsp;and private sector confidence. In response, China's President con- vened a forum with entrepreneurs in November 2018 to send a clear signal on supporting private firms.</p>\n<p>We also see a similar pattern emerging from the government in trying to provide clarity in this cycle. For instance, China's Vice Premier spoke at a business forum on July 27, saying that the nation would \"strike a balance between growth and safety, to ensure social fairness and competition, and promote healthy development of the capital market\". According to Bloomberg, the China Securities Regulatory Commission (CSRC) also told major investment banks on July 28 that the education policies were targeted and not intended to hurt com- panies in other industries. Separately, the government of Zhejiang province (one of China's richest provinces) clarified in mid-July that the “common prosperity initiative” does not mean \"absolute equal\". We will be watchful on the potential impact of intensified regulations on private sector confidence, and see if the existing government clari- fications are sufficient to restore market sentiment.<img src=\"https://static.tigerbbs.com/0a679cb541385fed3b741397ff984c65\" tg-width=\"1134\" tg-height=\"398\" referrerpolicy=\"no-referrer\"><b>What is next?</b></p>\n<p>The salient shift of governance priorities from “growth first” to bal- anced growth and sustainability means that sectoral regulations will likely continue to be realigned with the broader goals of social equality and national security. We thus see potential new regulation and/or detailed implementation plans in the coming years for sectors associated with the rising tensions of income and wealth inequality, rapid fertility decline, environment, and national security risks amid post-Covid de-globalization.</p>\n<p>That said, as aforementioned, we think these regulations are more about rebalancing the rise in corporate power and the share of labor compensation, and would not necessarily view them through the lens of “state vs. private”. Therefore, while we expect regulatory tightening on data-rich tech firms, platform companies, property developers to continue, sectors in-line with China's new economic agenda should continue to get support, such as semiconductor local- ization, cybersecurity software, innovative biotech and pharmaceu- tical companies with well-differentiated drugs, mass consumption/ domestic brands, vocational training, and green economy-related investment. For more equity investment analysis, please refer to</p>\n<p>China Equity Strategy: Implications for Long-Term Valuation and ROE; Opportunities amid Headwinds &amp; Tailwinds . Understanding China's Regulatory Reset&nbsp;Are there signposts to help us navigate the outlook based on past regulatory changes?</p>\n<p>While China’s regulatory changes appear less transparent than western counterparts, we do observe similar cycles marked succes- sively by early warning signs, the formal process of drafting and releasing the regulatory documents, and official remarks signaling the end of the campaigns.</p>\n<p>1. Early warning signs: These include increased social aware- ness/anxiety, public discussions, and meaningful deterioration in major macro level indicators, usually lasting 1-2 years (or possibly longer). For example, the latest crackdown on after- school tutoring followed top leaders’ negative assessment of the sector’s impact on children back in Sep-2018, but rapid growth continued, imposing a significant financial burden on middle income households. The antitrust campaign on tech giants was preceded by years of discussion over the contro- versy from \"pick one from two\" – a practice that came under the spotlight in 2015, which means platforms force merchants to have exclusive partnerships or distribution channels. Meanwhile, prominent macro-level regulatory campaigns include the financial cleanup since 2017 (following the five- year rapid rise in debt-to-GDP ratios) and capacity cuts in 2016-18 (following multiyear PPI deflation that further deep- ened in 2015).<img src=\"https://static.tigerbbs.com/3f5352ef9df13a439c37493e9a8ca53c\" tg-width=\"1126\" tg-height=\"628\" referrerpolicy=\"no-referrer\">2. The start of the formal regulatory cycle: This is usually marked either by approval of draft regulations at high-level government meetings or the release of a publicly accessible version for comment. The final document usually publishes 9-12 months later. For example, the latest regulatory docu- ment on capital market irregularities had been drafted and approved last November. In addition, the government will often release detailed plans for implementation, accompa- nying the original (and usually high-level) guidelines.</p>\n<p>3. Signs of reaching the final stages: For regulatory campaigns that have progressed relatively more smoothly, policymakers usually declare good results in high-level meetings – such as&nbsp;\"decisive progress in the three critical battles against poverty, pollution and financial risk\" at the 2021 NPC. On the other hand, for campaigns that brought about meaningful side effects, policymakers tended to soften their stance by, for example, calling for more market- or law-based implementa- tions (e.g., the latter stage of the supply side reforms). In rare cases when private sentiment was severely undermined on a broad scale, China's top leadership has reaffirmed its policy support with measures such as VAT cuts, lower social insur- ance payment ratio, better funding support, and further reforms and opening up.<img src=\"https://static.tigerbbs.com/cc249af2f4c828e1675a81878fef5910\" tg-width=\"1094\" tg-height=\"966\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Emergence of new norm following the regulatory shocks:</b> Past experiences suggest that each regulatory wave tends to last for 1-2 years, during the start of which capital markets usually underper- formed amid rising risk premiums, but eventually the real economy and capital market adjusted to the new policy framework. As we argued above, most of the ongoing regulation (except for after- school tutoring) mainly focuses on striking a balance between the rise in corporate power and the share of labor compensation rather than aiming to revamp or terminate prevailing business models. In this sense, we believe the key signposts for an end to the current tech regulatory cycle could include:</p>\n<p>1. A resumption of offshore IPOs by Chinese firms within less data-sensitive sub-sectors,</p>\n<p>2. A systematic improvement in key digital platforms’ social ben- efit packages for flexible workers, and</p>\n<p>3. Major fintech companies getting the greenlight for IPOs after fully complying with regulatory requirements.</p>\n<p><b>Key policy risks to watch</b></p>\n<p>We think the key risks lie mainly in China's endogenous growth momentum and external funding. First, while our base case assumes that policymakers can strike a balance between regulation and pri- vate sector vitality under the new policy framework, an inherent tendency to over-regulate could stifle private sector confidence and innovation. Second, a lack of sufficient communication and coordina- tion would not only disrupt business operations, but could also dis- courage foreign investment amid additional informational and cultural barriers. These could slow the pace of capital formation and undermine overall productivity growth in the economy.</p>\n<p>Although some short-term pain arising from overdue regulation that follows a prolonged period of unregulated growth is inevitable, we see ways of mitigating the policy overhang.</p>\n<p>1. A more anticipatory regulation framework and forward guid- ance for emerging industries could offer greater visibility and transparency, giving businesses sufficient time to adjust.</p>\n<p>2. On policy coordination, regulatory policies would benefit from being pursued in an integrated manner in order to reduce trade-offs and maximize synergies. For example, it might be true that technology in the data era could boost growth, but it could also worsen income inequality, given its effect of favouring capital over labour and favouring skilled over unskilled labour. However, policymakers could narrow income disparities and help to defuse potential negative social impact by accelerating the urbanization 2.0 strategy and increasing fiscal transfers to optimize the social protection network.<img src=\"https://static.tigerbbs.com/30308333dcaae51b19d9d6df98163daa\" tg-width=\"1100\" tg-height=\"520\" referrerpolicy=\"no-referrer\"></p>\n<p></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>Morgan Stanley：China's Regulatory Reset</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\">\nMorgan Stanley：China's Regulatory Reset\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-08-20 11:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n Beijing is shifting its governance priorities to balancing growth and sustainability, tackling&nbsp;social equality and security with a major regulatory reset. It could rebalance the share of&nbsp;economy toward labor, lowering corporate profit share. We see a longer and more&nbsp;profound market impact.\n</blockquote>\n<p><i><b>New objective triggering major regulatory reset: </b></i>We are at a signifi- cant moment in the history of China’s economy and capital markets: after a decade-long journey to eliminate absolute poverty, Beijing is shifting governance priorities from growth to balancing growth and sustainability: social equality, data security, and self-sufficiency. China's new regulations on fintech, big tech, after-school tutoring, cryptocurrency, and carbon emissions over the past nine months underpin this major regulatory reset.</p>\n<p><i><b>Economic implications:</b></i> Under the new governance paradigm, China appears to be attempting to check the rise in corporate power and rebalance the share of the economy in favor of labor, which could result in decline in corporate profit share. We see regulatory head- winds for sectors associated with rising tensions of social inequality, environmental sustainability, and data security risks, while the new framework provides policy support to advanced manufacturing, tech localization, and renewable energy. We remain watchful of the risk of over-regulation, or, in contrast, resumption of offshore (Hong Kong) IPOs for tech companies, clarity over employment benefits and other issues concerning platform companies, progress on audit access dis- pute resolution, and clearer guidance from top policymakers to curb spillover effects of regulation changes.</p>\n<p><b><i>Investment implications:</i></b> We expect a longer and more profound impact from the current regulatory cycle on China's equity market valuations and Equity Risk Premium (ERP) than has occurred in sim- ilar past cycles, as it is affecting a more substantial proportion of the market than previously and, in particular, the Internet sector, which accounts for ~40% of MSCI China by index weight. There is a substan- tial degree of uncertainty over what this means both for future net income margins and revenue growth for the affected sectors and stocks.</p>\n<p>Our current base case forward P/E target for MSCI China of 13.0x implies MSCI China would trade on a mid-single-digit percentage val- uation discount to MSCI EM ex China for a sustained period of time. Over time we expect the MSCI China universe to gradually have a more balanced sector allocation with a reduced weight for Internet and a higher weight for sectors like Industrials and IT.</p>\n<p><i><b>Challenges and opportunities by segment/theme</b></i>: Data-heavy tech and platform companies and property could remain under pressure amid the regulatory reset, while semi localization, cybersecurity, domestic brands catering to the mass market, innovative drugs, bio- tech, and green economy may enjoy support.</p>\n<p><b>5&nbsp;Key Charts at a Glance</b></p>\n<p>A shift from \"growth first\" to balancing growth and sustainability...<img src=\"https://static.tigerbbs.com/2da734c8c3853c4f5e3ef9f420b44128\" tg-width=\"1384\" tg-height=\"422\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/45ef8f29c3d6672ff460eb2c2f53e4bd\" tg-width=\"1372\" tg-height=\"736\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/d0f6b44f17975c68e81956d1f48f1a1f\" tg-width=\"1420\" tg-height=\"720\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/28739534c43a8f4ad6130734def1060e\" tg-width=\"1396\" tg-height=\"998\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/081b21f4492f2e201aa01ce3bf0cc0cf\" tg-width=\"1442\" tg-height=\"708\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/d9e0b9b6480a2b1c9c338ece5db0f691\" tg-width=\"1378\" tg-height=\"938\" referrerpolicy=\"no-referrer\"><b>Challenges and opportunities by segment/theme</b><img src=\"https://static.tigerbbs.com/ee2a916e7de802073a0628962cc2cfe6\" tg-width=\"1114\" tg-height=\"1170\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/9ab4ef36aba8f43d66471c352d81a93f\" tg-width=\"1118\" tg-height=\"690\" referrerpolicy=\"no-referrer\"><b>Understanding China's Regulatory Reset</b></p>\n<p>New era, new objective...</p>\n<p>We believe the recent regulatory tightening reflects a shift in China's governance priorities from \"growth first\" to balancing growth and sustainability – i.e., security, self-sufficiency, and social equality. In the last decade Beijing said its key goal was to double per capita income and eliminate absolute poverty (President Xi’s inaugural speech in Nov. 2012), i.e., giving highest priority to growth. However, this \"pro-growth\" strategy also led to higher inequality and social problems due to lack of regulations on emerging sectors, pointing to the importance of \"pro-poor\" measures as a complement (see World Bank (2004): Pro-growth, pro-poor: Is there a tradeoff?). Now, the government is emphasizing “getting rich together” (common prosperity) as the new objective for the next stage of development in the midst of the CCP's 100-year anniversary, and aims to \"prevent the unbridled expansion of capital\" by intro- ducing a range of KPIs besides economic growth, which covers social equality, supply chain self-sufficiency and data security in the face of rising secular risks – income inequality, US-China tensions, and aging demographics.</p>\n<p>Reflecting this reorientation, policymakers have intensified regu- lations in the past 9 months over fintech, big tech (anti-trust, data regulation and employee protection), after-school tutoring, crypto- currency, carbon emissions and overseas IPO rules. The anti-trust campaign has mainly targeted the prevention of tech giants from an over-concentration of market power and eroding welfare of smaller businesses and outsourced employees; the fintech regulation serves&nbsp;the purpose of curbing regulatory arbitrage and financial stability risks; and the increased scrutiny over Chinese ADRs and cross-border data flow in July 2021 mainly focuses on reducing risks of security amid lingering geopolitical tensions. Similarly, the recent regulatory changes to after-school tutoring are part of policy efforts to reduce child-raising costs.</p>\n<p>In short, China is trying to rebalance the rise in corporate power and the share of labor compensation, and this may lead to some systematic de-rating in valuations for some sectors. Having said that, policymakers will have to strike a balance, as China's ambition to thrive as an economic super power will require it to ensure con- tinued private sector vitality to spur innovation and further RMB internationalization to attract capital inflows, so as to sustain long- term productivity growth. While the new regulations introduce more requirements on social responsibility and data usage, and might lead to some increase in margin pressures for related enterprises, we think they will not disrupt business models for most sectors (except for after-school tutoring). For instance, the anti-trust law mainly focuses on banning tech-giants from requiring merchants to sign exclusive cooperation pacts, while the government's guidance on enhancing flexible workers' social benefits mainly requires food delivery platforms to pay healthcare and pension coverage for out- sourced employees. Online goods sales have also held up quite well recently despite the tech regulation campaign starting from late last year. Meanwhile, some regulatory changes are supportive for advanced manufacturing, hardware localization, and clean energy supply chain.<img src=\"https://static.tigerbbs.com/aed81f65a92f4b2731263273025f4a53\" tg-width=\"1108\" tg-height=\"328\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/cb0dce11e47f8023f88a4ab2622f89e6\" tg-width=\"1128\" tg-height=\"700\" referrerpolicy=\"no-referrer\">...but history rhymes</p>\n<p>While many of the regulations appear long-overdue and make sense (for example on fintech, anti-trust and outsourced labour protec- tion), the pace of changes in last 9 months has caught the market off-guard as a seemingly arbitrary shift in direction.</p>\n<p>Why has it occurred in such fashion? We have indeed seen this movie many times: China’s regulatory environments have tended to oscillate between relaxed and tight enforcement, especially in emerging sectors. But this has tended to result in an abrupt regula- tory reset. Before the current reversal in regulating big tech, China had a regulation campaign on mining (2006-2009), dairy (2008- 2010), high-end dining and liquor (2013-2014), irrational capital out-&nbsp;flows (2016-17), gaming (2018), and drugs (2018-2019) – most lasting for one to two years. The sharp shifts in regulatory changes have been largely due to the fact that regulations have tended to lag a period of exponential growth in the sector:</p>\n<ul>\n <li>Relaxed stage: Local government support, pro-growth men- tality and business interests together contributed to a lag in regulating emerging sectors.</li>\n <li>Tight regulation stage: When a problem is looming as evi- denced by public opinion and/or financial stability indicators, the top leadership shifts gears, quickly mobilizes all administra- tive resources to reorientate its policy control and bolster its regulatory capacity.<img src=\"https://static.tigerbbs.com/58cb4228c860070dfebe954a1a937a1e\" tg-width=\"1102\" tg-height=\"516\" referrerpolicy=\"no-referrer\">However, the abrupt shifts in policy tend to hurt market confi- dence and would benefit from more clarity: In past regulatory cycles, capital markets usually underperformed at the start, reflecting weaker market sentiment in the face of policy uncertainty, suggesting the need for greater policy communication. Historical patterns suggest that as an initial step to restore private sector confi- dence, minister-level officials attempt to clarify policy goals publicly. But if this communication is insufficient to temper concern and even- tually weakness in private confidence hurts the job market, top-level policymakers tend to step in.</li>\n</ul>\n<p>Here we can take 2H18 as an example, when the triple headwinds of deleveraging, regulatory tightening, and US-China trade tensions triggered market concerns about \"state advances, private sector retreats\". By then, while policymakers already shifted to an easing stance in July 2018 with PBoC's targeted RRR cut, followed by the Ministry of Finance's urge to accelerate local govt. bond issuance in August 2018, it did not stop the deterioration in broad credit growth&nbsp;and private sector confidence. In response, China's President con- vened a forum with entrepreneurs in November 2018 to send a clear signal on supporting private firms.</p>\n<p>We also see a similar pattern emerging from the government in trying to provide clarity in this cycle. For instance, China's Vice Premier spoke at a business forum on July 27, saying that the nation would \"strike a balance between growth and safety, to ensure social fairness and competition, and promote healthy development of the capital market\". According to Bloomberg, the China Securities Regulatory Commission (CSRC) also told major investment banks on July 28 that the education policies were targeted and not intended to hurt com- panies in other industries. Separately, the government of Zhejiang province (one of China's richest provinces) clarified in mid-July that the “common prosperity initiative” does not mean \"absolute equal\". We will be watchful on the potential impact of intensified regulations on private sector confidence, and see if the existing government clari- fications are sufficient to restore market sentiment.<img src=\"https://static.tigerbbs.com/0a679cb541385fed3b741397ff984c65\" tg-width=\"1134\" tg-height=\"398\" referrerpolicy=\"no-referrer\"><b>What is next?</b></p>\n<p>The salient shift of governance priorities from “growth first” to bal- anced growth and sustainability means that sectoral regulations will likely continue to be realigned with the broader goals of social equality and national security. We thus see potential new regulation and/or detailed implementation plans in the coming years for sectors associated with the rising tensions of income and wealth inequality, rapid fertility decline, environment, and national security risks amid post-Covid de-globalization.</p>\n<p>That said, as aforementioned, we think these regulations are more about rebalancing the rise in corporate power and the share of labor compensation, and would not necessarily view them through the lens of “state vs. private”. Therefore, while we expect regulatory tightening on data-rich tech firms, platform companies, property developers to continue, sectors in-line with China's new economic agenda should continue to get support, such as semiconductor local- ization, cybersecurity software, innovative biotech and pharmaceu- tical companies with well-differentiated drugs, mass consumption/ domestic brands, vocational training, and green economy-related investment. For more equity investment analysis, please refer to</p>\n<p>China Equity Strategy: Implications for Long-Term Valuation and ROE; Opportunities amid Headwinds &amp; Tailwinds . Understanding China's Regulatory Reset&nbsp;Are there signposts to help us navigate the outlook based on past regulatory changes?</p>\n<p>While China’s regulatory changes appear less transparent than western counterparts, we do observe similar cycles marked succes- sively by early warning signs, the formal process of drafting and releasing the regulatory documents, and official remarks signaling the end of the campaigns.</p>\n<p>1. Early warning signs: These include increased social aware- ness/anxiety, public discussions, and meaningful deterioration in major macro level indicators, usually lasting 1-2 years (or possibly longer). For example, the latest crackdown on after- school tutoring followed top leaders’ negative assessment of the sector’s impact on children back in Sep-2018, but rapid growth continued, imposing a significant financial burden on middle income households. The antitrust campaign on tech giants was preceded by years of discussion over the contro- versy from \"pick one from two\" – a practice that came under the spotlight in 2015, which means platforms force merchants to have exclusive partnerships or distribution channels. Meanwhile, prominent macro-level regulatory campaigns include the financial cleanup since 2017 (following the five- year rapid rise in debt-to-GDP ratios) and capacity cuts in 2016-18 (following multiyear PPI deflation that further deep- ened in 2015).<img src=\"https://static.tigerbbs.com/3f5352ef9df13a439c37493e9a8ca53c\" tg-width=\"1126\" tg-height=\"628\" referrerpolicy=\"no-referrer\">2. The start of the formal regulatory cycle: This is usually marked either by approval of draft regulations at high-level government meetings or the release of a publicly accessible version for comment. The final document usually publishes 9-12 months later. For example, the latest regulatory docu- ment on capital market irregularities had been drafted and approved last November. In addition, the government will often release detailed plans for implementation, accompa- nying the original (and usually high-level) guidelines.</p>\n<p>3. Signs of reaching the final stages: For regulatory campaigns that have progressed relatively more smoothly, policymakers usually declare good results in high-level meetings – such as&nbsp;\"decisive progress in the three critical battles against poverty, pollution and financial risk\" at the 2021 NPC. On the other hand, for campaigns that brought about meaningful side effects, policymakers tended to soften their stance by, for example, calling for more market- or law-based implementa- tions (e.g., the latter stage of the supply side reforms). In rare cases when private sentiment was severely undermined on a broad scale, China's top leadership has reaffirmed its policy support with measures such as VAT cuts, lower social insur- ance payment ratio, better funding support, and further reforms and opening up.<img src=\"https://static.tigerbbs.com/cc249af2f4c828e1675a81878fef5910\" tg-width=\"1094\" tg-height=\"966\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Emergence of new norm following the regulatory shocks:</b> Past experiences suggest that each regulatory wave tends to last for 1-2 years, during the start of which capital markets usually underper- formed amid rising risk premiums, but eventually the real economy and capital market adjusted to the new policy framework. As we argued above, most of the ongoing regulation (except for after- school tutoring) mainly focuses on striking a balance between the rise in corporate power and the share of labor compensation rather than aiming to revamp or terminate prevailing business models. In this sense, we believe the key signposts for an end to the current tech regulatory cycle could include:</p>\n<p>1. A resumption of offshore IPOs by Chinese firms within less data-sensitive sub-sectors,</p>\n<p>2. A systematic improvement in key digital platforms’ social ben- efit packages for flexible workers, and</p>\n<p>3. Major fintech companies getting the greenlight for IPOs after fully complying with regulatory requirements.</p>\n<p><b>Key policy risks to watch</b></p>\n<p>We think the key risks lie mainly in China's endogenous growth momentum and external funding. First, while our base case assumes that policymakers can strike a balance between regulation and pri- vate sector vitality under the new policy framework, an inherent tendency to over-regulate could stifle private sector confidence and innovation. Second, a lack of sufficient communication and coordina- tion would not only disrupt business operations, but could also dis- courage foreign investment amid additional informational and cultural barriers. These could slow the pace of capital formation and undermine overall productivity growth in the economy.</p>\n<p>Although some short-term pain arising from overdue regulation that follows a prolonged period of unregulated growth is inevitable, we see ways of mitigating the policy overhang.</p>\n<p>1. A more anticipatory regulation framework and forward guid- ance for emerging industries could offer greater visibility and transparency, giving businesses sufficient time to adjust.</p>\n<p>2. On policy coordination, regulatory policies would benefit from being pursued in an integrated manner in order to reduce trade-offs and maximize synergies. For example, it might be true that technology in the data era could boost growth, but it could also worsen income inequality, given its effect of favouring capital over labour and favouring skilled over unskilled labour. However, policymakers could narrow income disparities and help to defuse potential negative social impact by accelerating the urbanization 2.0 strategy and increasing fiscal transfers to optimize the social protection network.<img src=\"https://static.tigerbbs.com/30308333dcaae51b19d9d6df98163daa\" tg-width=\"1100\" tg-height=\"520\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113659023","content_text":"Beijing is shifting its governance priorities to balancing growth and sustainability, tackling social equality and security with a major regulatory reset. It could rebalance the share of economy toward labor, lowering corporate profit share. We see a longer and more profound market impact.\n\nNew objective triggering major regulatory reset: We are at a signifi- cant moment in the history of China’s economy and capital markets: after a decade-long journey to eliminate absolute poverty, Beijing is shifting governance priorities from growth to balancing growth and sustainability: social equality, data security, and self-sufficiency. China's new regulations on fintech, big tech, after-school tutoring, cryptocurrency, and carbon emissions over the past nine months underpin this major regulatory reset.\nEconomic implications: Under the new governance paradigm, China appears to be attempting to check the rise in corporate power and rebalance the share of the economy in favor of labor, which could result in decline in corporate profit share. We see regulatory head- winds for sectors associated with rising tensions of social inequality, environmental sustainability, and data security risks, while the new framework provides policy support to advanced manufacturing, tech localization, and renewable energy. We remain watchful of the risk of over-regulation, or, in contrast, resumption of offshore (Hong Kong) IPOs for tech companies, clarity over employment benefits and other issues concerning platform companies, progress on audit access dis- pute resolution, and clearer guidance from top policymakers to curb spillover effects of regulation changes.\nInvestment implications: We expect a longer and more profound impact from the current regulatory cycle on China's equity market valuations and Equity Risk Premium (ERP) than has occurred in sim- ilar past cycles, as it is affecting a more substantial proportion of the market than previously and, in particular, the Internet sector, which accounts for ~40% of MSCI China by index weight. There is a substan- tial degree of uncertainty over what this means both for future net income margins and revenue growth for the affected sectors and stocks.\nOur current base case forward P/E target for MSCI China of 13.0x implies MSCI China would trade on a mid-single-digit percentage val- uation discount to MSCI EM ex China for a sustained period of time. Over time we expect the MSCI China universe to gradually have a more balanced sector allocation with a reduced weight for Internet and a higher weight for sectors like Industrials and IT.\nChallenges and opportunities by segment/theme: Data-heavy tech and platform companies and property could remain under pressure amid the regulatory reset, while semi localization, cybersecurity, domestic brands catering to the mass market, innovative drugs, bio- tech, and green economy may enjoy support.\n5 Key Charts at a Glance\nA shift from \"growth first\" to balancing growth and sustainability...Challenges and opportunities by segment/themeUnderstanding China's Regulatory Reset\nNew era, new objective...\nWe believe the recent regulatory tightening reflects a shift in China's governance priorities from \"growth first\" to balancing growth and sustainability – i.e., security, self-sufficiency, and social equality. In the last decade Beijing said its key goal was to double per capita income and eliminate absolute poverty (President Xi’s inaugural speech in Nov. 2012), i.e., giving highest priority to growth. However, this \"pro-growth\" strategy also led to higher inequality and social problems due to lack of regulations on emerging sectors, pointing to the importance of \"pro-poor\" measures as a complement (see World Bank (2004): Pro-growth, pro-poor: Is there a tradeoff?). Now, the government is emphasizing “getting rich together” (common prosperity) as the new objective for the next stage of development in the midst of the CCP's 100-year anniversary, and aims to \"prevent the unbridled expansion of capital\" by intro- ducing a range of KPIs besides economic growth, which covers social equality, supply chain self-sufficiency and data security in the face of rising secular risks – income inequality, US-China tensions, and aging demographics.\nReflecting this reorientation, policymakers have intensified regu- lations in the past 9 months over fintech, big tech (anti-trust, data regulation and employee protection), after-school tutoring, crypto- currency, carbon emissions and overseas IPO rules. The anti-trust campaign has mainly targeted the prevention of tech giants from an over-concentration of market power and eroding welfare of smaller businesses and outsourced employees; the fintech regulation serves the purpose of curbing regulatory arbitrage and financial stability risks; and the increased scrutiny over Chinese ADRs and cross-border data flow in July 2021 mainly focuses on reducing risks of security amid lingering geopolitical tensions. Similarly, the recent regulatory changes to after-school tutoring are part of policy efforts to reduce child-raising costs.\nIn short, China is trying to rebalance the rise in corporate power and the share of labor compensation, and this may lead to some systematic de-rating in valuations for some sectors. Having said that, policymakers will have to strike a balance, as China's ambition to thrive as an economic super power will require it to ensure con- tinued private sector vitality to spur innovation and further RMB internationalization to attract capital inflows, so as to sustain long- term productivity growth. While the new regulations introduce more requirements on social responsibility and data usage, and might lead to some increase in margin pressures for related enterprises, we think they will not disrupt business models for most sectors (except for after-school tutoring). For instance, the anti-trust law mainly focuses on banning tech-giants from requiring merchants to sign exclusive cooperation pacts, while the government's guidance on enhancing flexible workers' social benefits mainly requires food delivery platforms to pay healthcare and pension coverage for out- sourced employees. Online goods sales have also held up quite well recently despite the tech regulation campaign starting from late last year. Meanwhile, some regulatory changes are supportive for advanced manufacturing, hardware localization, and clean energy supply chain....but history rhymes\nWhile many of the regulations appear long-overdue and make sense (for example on fintech, anti-trust and outsourced labour protec- tion), the pace of changes in last 9 months has caught the market off-guard as a seemingly arbitrary shift in direction.\nWhy has it occurred in such fashion? We have indeed seen this movie many times: China’s regulatory environments have tended to oscillate between relaxed and tight enforcement, especially in emerging sectors. But this has tended to result in an abrupt regula- tory reset. Before the current reversal in regulating big tech, China had a regulation campaign on mining (2006-2009), dairy (2008- 2010), high-end dining and liquor (2013-2014), irrational capital out- flows (2016-17), gaming (2018), and drugs (2018-2019) – most lasting for one to two years. The sharp shifts in regulatory changes have been largely due to the fact that regulations have tended to lag a period of exponential growth in the sector:\n\nRelaxed stage: Local government support, pro-growth men- tality and business interests together contributed to a lag in regulating emerging sectors.\nTight regulation stage: When a problem is looming as evi- denced by public opinion and/or financial stability indicators, the top leadership shifts gears, quickly mobilizes all administra- tive resources to reorientate its policy control and bolster its regulatory capacity.However, the abrupt shifts in policy tend to hurt market confi- dence and would benefit from more clarity: In past regulatory cycles, capital markets usually underperformed at the start, reflecting weaker market sentiment in the face of policy uncertainty, suggesting the need for greater policy communication. Historical patterns suggest that as an initial step to restore private sector confi- dence, minister-level officials attempt to clarify policy goals publicly. But if this communication is insufficient to temper concern and even- tually weakness in private confidence hurts the job market, top-level policymakers tend to step in.\n\nHere we can take 2H18 as an example, when the triple headwinds of deleveraging, regulatory tightening, and US-China trade tensions triggered market concerns about \"state advances, private sector retreats\". By then, while policymakers already shifted to an easing stance in July 2018 with PBoC's targeted RRR cut, followed by the Ministry of Finance's urge to accelerate local govt. bond issuance in August 2018, it did not stop the deterioration in broad credit growth and private sector confidence. In response, China's President con- vened a forum with entrepreneurs in November 2018 to send a clear signal on supporting private firms.\nWe also see a similar pattern emerging from the government in trying to provide clarity in this cycle. For instance, China's Vice Premier spoke at a business forum on July 27, saying that the nation would \"strike a balance between growth and safety, to ensure social fairness and competition, and promote healthy development of the capital market\". According to Bloomberg, the China Securities Regulatory Commission (CSRC) also told major investment banks on July 28 that the education policies were targeted and not intended to hurt com- panies in other industries. Separately, the government of Zhejiang province (one of China's richest provinces) clarified in mid-July that the “common prosperity initiative” does not mean \"absolute equal\". We will be watchful on the potential impact of intensified regulations on private sector confidence, and see if the existing government clari- fications are sufficient to restore market sentiment.What is next?\nThe salient shift of governance priorities from “growth first” to bal- anced growth and sustainability means that sectoral regulations will likely continue to be realigned with the broader goals of social equality and national security. We thus see potential new regulation and/or detailed implementation plans in the coming years for sectors associated with the rising tensions of income and wealth inequality, rapid fertility decline, environment, and national security risks amid post-Covid de-globalization.\nThat said, as aforementioned, we think these regulations are more about rebalancing the rise in corporate power and the share of labor compensation, and would not necessarily view them through the lens of “state vs. private”. Therefore, while we expect regulatory tightening on data-rich tech firms, platform companies, property developers to continue, sectors in-line with China's new economic agenda should continue to get support, such as semiconductor local- ization, cybersecurity software, innovative biotech and pharmaceu- tical companies with well-differentiated drugs, mass consumption/ domestic brands, vocational training, and green economy-related investment. For more equity investment analysis, please refer to\nChina Equity Strategy: Implications for Long-Term Valuation and ROE; Opportunities amid Headwinds & Tailwinds . Understanding China's Regulatory Reset Are there signposts to help us navigate the outlook based on past regulatory changes?\nWhile China’s regulatory changes appear less transparent than western counterparts, we do observe similar cycles marked succes- sively by early warning signs, the formal process of drafting and releasing the regulatory documents, and official remarks signaling the end of the campaigns.\n1. Early warning signs: These include increased social aware- ness/anxiety, public discussions, and meaningful deterioration in major macro level indicators, usually lasting 1-2 years (or possibly longer). For example, the latest crackdown on after- school tutoring followed top leaders’ negative assessment of the sector’s impact on children back in Sep-2018, but rapid growth continued, imposing a significant financial burden on middle income households. The antitrust campaign on tech giants was preceded by years of discussion over the contro- versy from \"pick one from two\" – a practice that came under the spotlight in 2015, which means platforms force merchants to have exclusive partnerships or distribution channels. Meanwhile, prominent macro-level regulatory campaigns include the financial cleanup since 2017 (following the five- year rapid rise in debt-to-GDP ratios) and capacity cuts in 2016-18 (following multiyear PPI deflation that further deep- ened in 2015).2. The start of the formal regulatory cycle: This is usually marked either by approval of draft regulations at high-level government meetings or the release of a publicly accessible version for comment. The final document usually publishes 9-12 months later. For example, the latest regulatory docu- ment on capital market irregularities had been drafted and approved last November. In addition, the government will often release detailed plans for implementation, accompa- nying the original (and usually high-level) guidelines.\n3. Signs of reaching the final stages: For regulatory campaigns that have progressed relatively more smoothly, policymakers usually declare good results in high-level meetings – such as \"decisive progress in the three critical battles against poverty, pollution and financial risk\" at the 2021 NPC. On the other hand, for campaigns that brought about meaningful side effects, policymakers tended to soften their stance by, for example, calling for more market- or law-based implementa- tions (e.g., the latter stage of the supply side reforms). In rare cases when private sentiment was severely undermined on a broad scale, China's top leadership has reaffirmed its policy support with measures such as VAT cuts, lower social insur- ance payment ratio, better funding support, and further reforms and opening up.\nEmergence of new norm following the regulatory shocks: Past experiences suggest that each regulatory wave tends to last for 1-2 years, during the start of which capital markets usually underper- formed amid rising risk premiums, but eventually the real economy and capital market adjusted to the new policy framework. As we argued above, most of the ongoing regulation (except for after- school tutoring) mainly focuses on striking a balance between the rise in corporate power and the share of labor compensation rather than aiming to revamp or terminate prevailing business models. In this sense, we believe the key signposts for an end to the current tech regulatory cycle could include:\n1. A resumption of offshore IPOs by Chinese firms within less data-sensitive sub-sectors,\n2. A systematic improvement in key digital platforms’ social ben- efit packages for flexible workers, and\n3. Major fintech companies getting the greenlight for IPOs after fully complying with regulatory requirements.\nKey policy risks to watch\nWe think the key risks lie mainly in China's endogenous growth momentum and external funding. First, while our base case assumes that policymakers can strike a balance between regulation and pri- vate sector vitality under the new policy framework, an inherent tendency to over-regulate could stifle private sector confidence and innovation. Second, a lack of sufficient communication and coordina- tion would not only disrupt business operations, but could also dis- courage foreign investment amid additional informational and cultural barriers. These could slow the pace of capital formation and undermine overall productivity growth in the economy.\nAlthough some short-term pain arising from overdue regulation that follows a prolonged period of unregulated growth is inevitable, we see ways of mitigating the policy overhang.\n1. A more anticipatory regulation framework and forward guid- ance for emerging industries could offer greater visibility and transparency, giving businesses sufficient time to adjust.\n2. On policy coordination, regulatory policies would benefit from being pursued in an integrated manner in order to reduce trade-offs and maximize synergies. For example, it might be true that technology in the data era could boost growth, but it could also worsen income inequality, given its effect of favouring capital over labour and favouring skilled over unskilled labour. However, policymakers could narrow income disparities and help to defuse potential negative social impact by accelerating the urbanization 2.0 strategy and increasing fiscal transfers to optimize the social protection network.","news_type":1},"isVote":1,"tweetType":1,"viewCount":525,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":833963652,"gmtCreate":1629198109676,"gmtModify":1676529962768,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/833963652","repostId":"1115558959","repostType":4,"repost":{"id":"1115558959","kind":"news","pubTimestamp":1629192455,"share":"https://ttm.financial/m/news/1115558959?lang=&edition=fundamental","pubTime":"2021-08-17 17:27","market":"us","language":"en","title":"This Is What Hedge Funds Bought And Sold In Q2: Complete 13F Summary","url":"https://stock-news.laohu8.com/highlight/detail?id=1115558959","media":"zerohedge","summary":"For once, the \"smart money\" was not caught off guard by the resurgent covid pandemic, and as a barra","content":"<p>For once, the \"smart money\" was not caught off guard by the resurgent covid pandemic, and as a barrage of 13F filings published today showed, during the second quarter hedge funds loaded up on companies that would benefit from a new wave of the pandemic even before the delta variant began to rapidly spread throughout the U.S.</p>\n<p>As Bloomberg summarizes, Chase Coleman’s Tiger Global Management and&nbsp;Philippe Laffont’s Coatue Management both increased their stakes in food delivery service&nbsp;DoorDash in the second quarter. Coatue also added to its bet on vaccine maker&nbsp;Moderna, while&nbsp;Stephen Mandel’s Lone Pine Capital took a new stake in the biotech company worth more than $900 million. These purchases were a reversal from the first quarter, when many hedge funds cut positions in<i>Work From Home</i>companies like&nbsp;Peloton and&nbsp;Zoom as vaccinations began to ramp up in the U.S. That, in turn, fueled wagers on companies that had been hardest-hit by travel restrictions and remote work.</p>\n<p>Tiger and Coatue also increased their stakes in Zoom in the three months through June, their 13F filings revealed. The two funds, along with D1 Capital Partners, were among those that added to positions in Peloton, while Viking Global Investors made a new bet on the exercise equipment company.</p>\n<p>13F filings also showed that funds including Soros Fund Management and Temasek snapped up shares of fintech companies. Marqeta was a top new buy for Soros, while Temasek disclosed new positions in SoFi Technologies, Flywire and Payoneer Global. Marqeta and SoFi tumbled last week after reporting disappointing second-quarter results. Temasek also snapped up shares in two new BlackRock carbon transition ETFs (LCTU and LCTD), while Soros took a new position in electric-vehicle producer Proterra, as clean energy continues to be a prominent trend among investors.</p>\n<p>Coatue, Viking and&nbsp;Gabe Plotkin’s Melvin Capital Management also added new positions in Beijing-based JD.com Inc. in the quarter, a move that would prove to be rather unfortunate as shares of the giant online vendor have slumped 16% since June 30. Chinese shares have tumbled since June as Beijing banned for-profit tutoring companies and ordered more than two dozen tech firms to carry out internal inspections and address issues such as data security.</p>\n<p>Some, such as Soros were either lucky or good in cutting their exposure to Chinese ADRs in the second quarter, ahead of the furious selloff. Soros Fund Management exited many of its investments in Chinese ADRs including Baidu, Vipshop Holdings, Tencent Music Entertainment Group and IQiyi, positions it snapped up during the collapse of Archegos Capital Management in March and April, as noted previously.</p>\n<p>Other funds also dumped China-based companies with listings in the U.S. D1 Capital sold its 25-million-share stake in New Oriental Education &amp; Technology Group, while Soroban Capital Partners exited its 2.06-million-share stake in Alibaba. Soroban’s largest new positions favored tech, with the top three additions being Facebook, Twitter and Netflix.</p>\n<p>Some other notable 13F findings:</p>\n<ul>\n <li>Michael Burry, of “The Big Short” fame, owned puts on&nbsp;Cathie Wood’s ARK Innovation ETF and increased its Tesla puts (more here).</li>\n <li>Warren Buffett’s Berkshire Hathaway added to just three positions in the quarter and trimmed its holdings in several companies, including a full exit of controversial Alzheimer’s drug developer Biogen. As firstnoted earlier, Berkshire’s only new position in the quarter, 1.55 million shares of Organon was the result of a spinoff of the women’s health pharmaceutical company from Berkshire holding Merck. Its most significant addition was a 21% increase in its position in grocer Kroger. Besides Biogen, exits included Liberty Global’s Class A shares and Axalta Coating Systems, while Berkshire trimmed positions in Marsh &amp; McLennan, Abbvie, General Motors and Bristol-Myers Squibb.</li>\n <li>Seth Klarman’s long-standing investment in&nbsp;Rupert Murdoch’s media empire finally came to an end during the second quarter. Baupost Group sold its entire Fox Corp. stake, including 7.6 million Class A shares and 5.7 million Class B shares with a combined market value of $446 million at the end of March.</li>\n <li>Carl Icahn, who runs a concentrated portfolio with just 17 reportable investments, sold all of his 9.59 million shares of Tenneco in the quarter. He also has a new undisclosed position in an unnamed stock -- an unusual step that requires a separate filing with the Securities and Exchange Commission.</li>\n <li>Dan Loeb's Third Point added SentinelOne Class A to its investments and exited IAA in the second quarter. The fund also added to its holdings in Intel, boosting its stake to 14 million shares from 1 million, while decreasing its stake in Charter Communications Class A. Upstart Holdings was Third Point's biggest holding, representing 9.8% of disclosed assets</li>\n <li>Elliott Investment Management’s largest purchases of the quarter included a 3-million-share buy of Twitter. The increase in shares comes despite Elliott partner Jesse Cohn’s departure from Twitter’s board on June 9. He originally joined the board as part of a partnership Twitter entered with Elliott and Sliver Lake on March 9, 2020.</li>\n <li>Singapore state-owned investment fund Temasek Holdings’s largest new purchase in the quarter was a 4.84-million-share position in Airbnb. Airbnb reported strong second-quarter earnings last week that were offset by tepid guidance, according to analysts. Temasek also disclosed new positions in SoFi Technologies, Flywire and Payoneer Global.</li>\n</ul>\n<p><i>Here are some other moves made by prominent funds tracked by Bloomberg:</i></p>\n<p>APPALOOSA</p>\n<ul>\n <li>Top new buys: UBER, PHM, BODY, TCVA</li>\n <li>Top exits: CRM, ADBE, DIS, PYPL, IQ, DISCA, BIDU, SHOP</li>\n <li>Boosted stakes in: MOS, FCX</li>\n <li>Cut stakes in: PCG, MU, TMUS, AMZN, CHK, BABA, FB, GOOG, HCA, XLE</li>\n</ul>\n<p>BAUPOST GROUP</p>\n<ul>\n <li>Top new buys: SJR, RTPY, 1865300D</li>\n <li>Top exits: FOXA, FOX, PEAK, FNF, RTP, HIPO</li>\n <li>Boosted stakes in: FB, MU, QRVO, TBPH</li>\n <li>Cut stakes in: INTC, WLTW, EBAY, PSTH, SSNC, ADV, AJAX, NXST, DBRG, LBTYK</li>\n</ul>\n<p>BERKSHIRE HATHAWAY</p>\n<ul>\n <li>Top exits: AXTA, BIIB, LBTYA</li>\n <li>Boosted stakes in: KR, RH, AON</li>\n <li>Cut stakes in: GM, BMY, ABBV, LBTYK, CVX, MMC, USB</li>\n</ul>\n<p>CORVEX MANAGEMENT</p>\n<ul>\n <li>Top new buys: CRM, ZNGA, BOAC, ROVR, TWCT, LGV</li>\n <li>Top exits: FISV, EXPE, GLD, FE, GPN, RADI, ORGN, TALK, ELMS, NFLX</li>\n <li>Boosted stakes in: BLMN, AMZN, GOOGL, DIS, MSFT, CCEP, ATUS, EXC, DOMA, FB</li>\n <li>Cut stakes in: ATVI, TMUS, AJAX, CFAC</li>\n</ul>\n<p>D1 CAPITAL PARTNERS</p>\n<ul>\n <li>Top new buys: PCOR, FTCH, PODD, ALKT, CMG, DLO, DECK, STNE, CRWD, FTV</li>\n <li>Top exits: HLT, NFLX, EDU, BAX, NKE, PPD, LVS, FIS, BX, BMBL</li>\n <li>Boosted stakes in: AMZN, EXPE, CVNA, PTON, BBWI, JD, RH, BLL, BKNG, DIS</li>\n <li>Cut stakes in: MSFT, TMUS, FB, COUP, DHR, DDOG</li>\n</ul>\n<p>DUQUESNE FAMILY OFFICE</p>\n<ul>\n <li>Top new buys: NFLX, ABNB, MRNA, SMAR, GM, COUP, MAR, FTCH, CF, RBLX</li>\n <li>Top exits: C, GOLD, MELI, UBER, TSM, LIN, RUN, JPM, AA, ASHR</li>\n <li>Boosted stakes in: GOOGL, AMZN, CVNA, FB, KBR, MA, V, SBUX, EXPE, OPCH</li>\n <li>Cut stakes in: MSFT, SE, ON, BLDR, PLTR, FLEX, TMUS, SNOW, TECK, FCX</li>\n</ul>\n<p>ELLIOTT INVESTMENT MANAGEMENT</p>\n<ul>\n <li>Top new buys: DUK, DBX, HRB</li>\n <li>Top exits: DISCK, CYH, FB</li>\n <li>Boosted stakes in: TWTR, ETWO, PINS</li>\n <li>Cut stakes in: SNAP, HWM</li>\n</ul>\n<p>GLENVIEW CAPITAL MANAGEMENT</p>\n<ul>\n <li>Top new buys: CNC, AMZN, BABA, CCCS, UBER, AMGN, CHNG, OUST, BOWX, LSAQ</li>\n <li>Top exits: NUAN, LH, MSFT, CAR, LYFT, MAR, PPD, NBSE</li>\n <li>Boosted stakes in: GPN, CCEP, APTV, WBA, DD, CTVA, DVA, NSC, HOLX, ESI</li>\n <li>Cut stakes in: CI, TAK, HCA, MCK, DXC, FB, ANTM, BSX, BAX, FISV</li>\n</ul>\n<p>GREENLIGHT CAPITAL</p>\n<ul>\n <li>Top new buys: SPY, PLBY, GPK, NWS, SRNG, EXPE, DMYI, LIVN, UWMC, PANA</li>\n <li>Top exits: ADT, ALIT, TALK, SEAH</li>\n <li>Boosted stakes in: TECK, GPRO, ODP, CC, CPRI, JOBY, SATS, ASTS, FUBO, REZI</li>\n <li>Cut stakes in: DNMR, APG, KPLT, CNX, XOG, CNXC, JACK, SNX, NUVB, CEIX</li>\n</ul>\n<p>ICAHN</p>\n<ul>\n <li>Top exits: HLF, TEN</li>\n <li>Boosted stakes in: IEP, XRX</li>\n <li>Cut stakes in: OXY, DK, WBT</li>\n</ul>\n<p>JANA PARTNERS</p>\n<ul>\n <li>Top new buys: CSOD</li>\n <li>Boosted stakes in: CONE, VG, SPY, EHC</li>\n <li>Cut stakes in: LH, CAG, THS</li>\n</ul>\n<p>LANSDOWNE</p>\n<ul>\n <li>Top new buys: ILMN, WMG, NVT</li>\n <li>Top exits: ED, DAR, AES, REGI, CDE, PAAS, USO</li>\n <li>Boosted stakes in: ETN, FCX, CARR, AER, DAL, IEUR, BLBD, VMC, RBLX, UVXY</li>\n <li>Cut stakes in: AMAT, TSM, LRCX, MU, RYAAY, GE, ENIA, EGO, ADI, BKNG</li>\n</ul>\n<p>MAVERICK CAPITAL</p>\n<ul>\n <li>Top new buys: CNC, JLL, CANO, FTCH, GPN, BHG, CMAX, ADSK, SE, JWSM</li>\n <li>Top exits: FIS, PLD, ELAN, LVS, SPFR, MAC, DASH, TJX, ZBRA, HPQ</li>\n <li>Boosted stakes in: CVNA, ASO, SNOW, V, BABA, EXPE, TMUS, CCK, XP, ATRA</li>\n <li>Cut stakes in: SEER, AMAT, ALNY, LRCX, AON, AMZN, LPLA, SUM, TGTX, GOOG</li>\n</ul>\n<p>MELVIN CAPITAL MANAGEMENT</p>\n<ul>\n <li>Top new buys: JD, DASH, PYPL, DPZ, MSFT, TGT, VMEO, SE, SHOP, DDOG</li>\n <li>Top exits: NFLX, NUAN, PINS, AAP, NKE, MU, SIG, TPX, TPR, WYNN</li>\n <li>Boosted stakes in: AMZN, ATVI, ALGN, LYV, LH, EXPE, SEAS, SNOW, PVH, TXRH</li>\n <li>Cut stakes in: MA, FB, BBWI, GOOGL, SBUX, UBER, FICO, NTES, HLT, NOW</li>\n</ul>\n<p>OMEGA ADVISORS</p>\n<ul>\n <li>Top new buys: LAD, BHC, VOO, PFSI, EFA, IVW, COG, SCHO, IEUR, EWJ</li>\n <li>Top exits: MGY, IFF, CMCSA</li>\n <li>Boosted stakes in: FOA, WSC, VRT, NRG, PXD, ABR, ASH, ASPU, BABA, FLMN</li>\n <li>Cut stakes in: FOE, NAVI, OCN, TRN, BBDC, FCRD, SRGA, FB, SNR</li>\n</ul>\n<p>PERSHING SQUARE</p>\n<ul>\n <li>Boosted stakes in: DPZ</li>\n <li>Cut stakes in: LOW, QSR, HLT, A</li>\n</ul>\n<p>SOROBAN CAPITAL</p>\n<ul>\n <li>Top new buys: FB, TWTR, NFLX, WAB, KAHC, LGV, BKI, PLNT, MSDA, TIOA</li>\n <li>Top exits: BABA, CMCSA, DPZ, RTX, GRA, GWRE, ALIT, SFTW, SPFR</li>\n <li>Boosted stakes in: LOW, CSX, ADI, UNP, FIS, VYGG, BTNB</li>\n <li>Cut stakes in: ATUS, SPGI, PAYO, KVSB, ME, SUNL, BGRY, GNAC, DOMA, NSH</li>\n</ul>\n<p>SOROS FUND MANAGEMENT</p>\n<ul>\n <li>Top new buys: FIGS, INFO, PTRA, MQ, PPD, VER, NUAN, MGLN, INDI, ACN</li>\n <li>Top exits: BIDU, DEN, VIPS, TME, IQ, DISCK, XLE, MU, ASHR, WAL</li>\n <li>Boosted stakes in: AMZN, MXIM, ELAN, GOOGL, CLVT, DIS, OPEN, W, CRM, SYF</li>\n <li>Cut stakes in: LQD, QS, VICI, UPST, TXN, LVS, ADI, NXPI, DHI, LPLA</li>\n</ul>\n<p>STARBOARD</p>\n<ul>\n <li>Top new buys: PZZA, WPCB, LEGA, KAHC, SLAM, FRXB, ATMR, ROSS, MACC, ACAH</li>\n <li>Boosted stakes in: CERN, BOX, IWM, IWR, TWCT, KVSC, DGNU, PRPB, LNFA, ON</li>\n <li>Cut stakes in: CTVA, IWN, ACM, MAAC, SCOR, NLOK, MMSI, ELAN, CVLT</li>\n</ul>\n<p>TEMASEK HOLDINGS</p>\n<ul>\n <li>Top new buys: ABNB, INTA, FLYW, PAYO, KRE, STEM, LCTU, INTC, SOFI, COPX</li>\n <li>Top exits: XLF, ADBE, INDA, EWZ, ACIU, PCVX</li>\n <li>Boosted stakes in: BILL, BEAM, TMO, DELL, EWY, IBN, IAU, CRM, SNOW, AFRM</li>\n <li>Cut stakes in: WISH, IWM, BABA, MSFT, XLB, CTVA, DASH, RBLX</li>\n</ul>\n<p>THIRD POINT</p>\n<ul>\n <li>Top new buys: S, SOFI, EDR, ZBH, PTON, RTPY, JWSM, ASZ, IACC, AUS</li>\n <li>Top exits: IAA, RACE, KMX, Z, SHOP, CVNA, ETRN, NYT, WISH, RKT</li>\n <li>Boosted stakes in: INTC, AMZN, DELL, CANO, EL, UBER, SU, RH, DD, AES</li>\n <li>Cut stakes in: CHTR, PCG, JD, IQV, DIS, RADI, APTV, BOAC, MTTR, TEL</li>\n</ul>\n<p>TIGER GLOBAL</p>\n<ul>\n <li>Top new buys: PCOR, PATH, COIN, DV, BHG, DLO, APP, S, GRUB, KPLT</li>\n <li>Top exits: ASO</li>\n <li>Boosted stakes in: DASH, DOCU, ZM, SHOP, SE, SNOW, CVNA, PTON, YSG, RNG</li>\n <li>Cut stakes in: CRM, TAL, JD, EDU, RBLX, GDS, UBER, DESP, BABA, RDFN</li>\n</ul>","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>This Is What Hedge Funds Bought And Sold In Q2: Complete 13F Summary</title>\n<style 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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\">\nThis Is What Hedge Funds Bought And Sold In Q2: Complete 13F Summary\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-17 17:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/what-hedge-funds-bought-and-sold-q2-complete-13f-summary><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>For once, the \"smart money\" was not caught off guard by the resurgent covid pandemic, and as a barrage of 13F filings published today showed, during the second quarter hedge funds loaded up on ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/what-hedge-funds-bought-and-sold-q2-complete-13f-summary\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/what-hedge-funds-bought-and-sold-q2-complete-13f-summary","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115558959","content_text":"For once, the \"smart money\" was not caught off guard by the resurgent covid pandemic, and as a barrage of 13F filings published today showed, during the second quarter hedge funds loaded up on companies that would benefit from a new wave of the pandemic even before the delta variant began to rapidly spread throughout the U.S.\nAs Bloomberg summarizes, Chase Coleman’s Tiger Global Management and Philippe Laffont’s Coatue Management both increased their stakes in food delivery service DoorDash in the second quarter. Coatue also added to its bet on vaccine maker Moderna, while Stephen Mandel’s Lone Pine Capital took a new stake in the biotech company worth more than $900 million. These purchases were a reversal from the first quarter, when many hedge funds cut positions inWork From Homecompanies like Peloton and Zoom as vaccinations began to ramp up in the U.S. That, in turn, fueled wagers on companies that had been hardest-hit by travel restrictions and remote work.\nTiger and Coatue also increased their stakes in Zoom in the three months through June, their 13F filings revealed. The two funds, along with D1 Capital Partners, were among those that added to positions in Peloton, while Viking Global Investors made a new bet on the exercise equipment company.\n13F filings also showed that funds including Soros Fund Management and Temasek snapped up shares of fintech companies. Marqeta was a top new buy for Soros, while Temasek disclosed new positions in SoFi Technologies, Flywire and Payoneer Global. Marqeta and SoFi tumbled last week after reporting disappointing second-quarter results. Temasek also snapped up shares in two new BlackRock carbon transition ETFs (LCTU and LCTD), while Soros took a new position in electric-vehicle producer Proterra, as clean energy continues to be a prominent trend among investors.\nCoatue, Viking and Gabe Plotkin’s Melvin Capital Management also added new positions in Beijing-based JD.com Inc. in the quarter, a move that would prove to be rather unfortunate as shares of the giant online vendor have slumped 16% since June 30. Chinese shares have tumbled since June as Beijing banned for-profit tutoring companies and ordered more than two dozen tech firms to carry out internal inspections and address issues such as data security.\nSome, such as Soros were either lucky or good in cutting their exposure to Chinese ADRs in the second quarter, ahead of the furious selloff. Soros Fund Management exited many of its investments in Chinese ADRs including Baidu, Vipshop Holdings, Tencent Music Entertainment Group and IQiyi, positions it snapped up during the collapse of Archegos Capital Management in March and April, as noted previously.\nOther funds also dumped China-based companies with listings in the U.S. D1 Capital sold its 25-million-share stake in New Oriental Education & Technology Group, while Soroban Capital Partners exited its 2.06-million-share stake in Alibaba. Soroban’s largest new positions favored tech, with the top three additions being Facebook, Twitter and Netflix.\nSome other notable 13F findings:\n\nMichael Burry, of “The Big Short” fame, owned puts on Cathie Wood’s ARK Innovation ETF and increased its Tesla puts (more here).\nWarren Buffett’s Berkshire Hathaway added to just three positions in the quarter and trimmed its holdings in several companies, including a full exit of controversial Alzheimer’s drug developer Biogen. As firstnoted earlier, Berkshire’s only new position in the quarter, 1.55 million shares of Organon was the result of a spinoff of the women’s health pharmaceutical company from Berkshire holding Merck. Its most significant addition was a 21% increase in its position in grocer Kroger. Besides Biogen, exits included Liberty Global’s Class A shares and Axalta Coating Systems, while Berkshire trimmed positions in Marsh & McLennan, Abbvie, General Motors and Bristol-Myers Squibb.\nSeth Klarman’s long-standing investment in Rupert Murdoch’s media empire finally came to an end during the second quarter. Baupost Group sold its entire Fox Corp. stake, including 7.6 million Class A shares and 5.7 million Class B shares with a combined market value of $446 million at the end of March.\nCarl Icahn, who runs a concentrated portfolio with just 17 reportable investments, sold all of his 9.59 million shares of Tenneco in the quarter. He also has a new undisclosed position in an unnamed stock -- an unusual step that requires a separate filing with the Securities and Exchange Commission.\nDan Loeb's Third Point added SentinelOne Class A to its investments and exited IAA in the second quarter. The fund also added to its holdings in Intel, boosting its stake to 14 million shares from 1 million, while decreasing its stake in Charter Communications Class A. Upstart Holdings was Third Point's biggest holding, representing 9.8% of disclosed assets\nElliott Investment Management’s largest purchases of the quarter included a 3-million-share buy of Twitter. The increase in shares comes despite Elliott partner Jesse Cohn’s departure from Twitter’s board on June 9. He originally joined the board as part of a partnership Twitter entered with Elliott and Sliver Lake on March 9, 2020.\nSingapore state-owned investment fund Temasek Holdings’s largest new purchase in the quarter was a 4.84-million-share position in Airbnb. Airbnb reported strong second-quarter earnings last week that were offset by tepid guidance, according to analysts. Temasek also disclosed new positions in SoFi Technologies, Flywire and Payoneer Global.\n\nHere are some other moves made by prominent funds tracked by Bloomberg:\nAPPALOOSA\n\nTop new buys: UBER, PHM, BODY, TCVA\nTop exits: CRM, ADBE, DIS, PYPL, IQ, DISCA, BIDU, SHOP\nBoosted stakes in: MOS, FCX\nCut stakes in: PCG, MU, TMUS, AMZN, CHK, BABA, FB, GOOG, HCA, XLE\n\nBAUPOST GROUP\n\nTop new buys: SJR, RTPY, 1865300D\nTop exits: FOXA, FOX, PEAK, FNF, RTP, HIPO\nBoosted stakes in: FB, MU, QRVO, TBPH\nCut stakes in: INTC, WLTW, EBAY, PSTH, SSNC, ADV, AJAX, NXST, DBRG, LBTYK\n\nBERKSHIRE HATHAWAY\n\nTop exits: AXTA, BIIB, LBTYA\nBoosted stakes in: KR, RH, AON\nCut stakes in: GM, BMY, ABBV, LBTYK, CVX, MMC, USB\n\nCORVEX MANAGEMENT\n\nTop new buys: CRM, ZNGA, BOAC, ROVR, TWCT, LGV\nTop exits: FISV, EXPE, GLD, FE, GPN, RADI, ORGN, TALK, ELMS, NFLX\nBoosted stakes in: BLMN, AMZN, GOOGL, DIS, MSFT, CCEP, ATUS, EXC, DOMA, FB\nCut stakes in: ATVI, TMUS, AJAX, CFAC\n\nD1 CAPITAL PARTNERS\n\nTop new buys: PCOR, FTCH, PODD, ALKT, CMG, DLO, DECK, STNE, CRWD, FTV\nTop exits: HLT, NFLX, EDU, BAX, NKE, PPD, LVS, FIS, BX, BMBL\nBoosted stakes in: AMZN, EXPE, CVNA, PTON, BBWI, JD, RH, BLL, BKNG, DIS\nCut stakes in: MSFT, TMUS, FB, COUP, DHR, DDOG\n\nDUQUESNE FAMILY OFFICE\n\nTop new buys: NFLX, ABNB, MRNA, SMAR, GM, COUP, MAR, FTCH, CF, RBLX\nTop exits: C, GOLD, MELI, UBER, TSM, LIN, RUN, JPM, AA, ASHR\nBoosted stakes in: GOOGL, AMZN, CVNA, FB, KBR, MA, V, SBUX, EXPE, OPCH\nCut stakes in: MSFT, SE, ON, BLDR, PLTR, FLEX, TMUS, SNOW, TECK, FCX\n\nELLIOTT INVESTMENT MANAGEMENT\n\nTop new buys: DUK, DBX, HRB\nTop exits: DISCK, CYH, FB\nBoosted stakes in: TWTR, ETWO, PINS\nCut stakes in: SNAP, HWM\n\nGLENVIEW CAPITAL MANAGEMENT\n\nTop new buys: CNC, AMZN, BABA, CCCS, UBER, AMGN, CHNG, OUST, BOWX, LSAQ\nTop exits: NUAN, LH, MSFT, CAR, LYFT, MAR, PPD, NBSE\nBoosted stakes in: GPN, CCEP, APTV, WBA, DD, CTVA, DVA, NSC, HOLX, ESI\nCut stakes in: CI, TAK, HCA, MCK, DXC, FB, ANTM, BSX, BAX, FISV\n\nGREENLIGHT CAPITAL\n\nTop new buys: SPY, PLBY, GPK, NWS, SRNG, EXPE, DMYI, LIVN, UWMC, PANA\nTop exits: ADT, ALIT, TALK, SEAH\nBoosted stakes in: TECK, GPRO, ODP, CC, CPRI, JOBY, SATS, ASTS, FUBO, REZI\nCut stakes in: DNMR, APG, KPLT, CNX, XOG, CNXC, JACK, SNX, NUVB, CEIX\n\nICAHN\n\nTop exits: HLF, TEN\nBoosted stakes in: IEP, XRX\nCut stakes in: OXY, DK, WBT\n\nJANA PARTNERS\n\nTop new buys: CSOD\nBoosted stakes in: CONE, VG, SPY, EHC\nCut stakes in: LH, CAG, THS\n\nLANSDOWNE\n\nTop new buys: ILMN, WMG, NVT\nTop exits: ED, DAR, AES, REGI, CDE, PAAS, USO\nBoosted stakes in: ETN, FCX, CARR, AER, DAL, IEUR, BLBD, VMC, RBLX, UVXY\nCut stakes in: AMAT, TSM, LRCX, MU, RYAAY, GE, ENIA, EGO, ADI, BKNG\n\nMAVERICK CAPITAL\n\nTop new buys: CNC, JLL, CANO, FTCH, GPN, BHG, CMAX, ADSK, SE, JWSM\nTop exits: FIS, PLD, ELAN, LVS, SPFR, MAC, DASH, TJX, ZBRA, HPQ\nBoosted stakes in: CVNA, ASO, SNOW, V, BABA, EXPE, TMUS, CCK, XP, ATRA\nCut stakes in: SEER, AMAT, ALNY, LRCX, AON, AMZN, LPLA, SUM, TGTX, GOOG\n\nMELVIN CAPITAL MANAGEMENT\n\nTop new buys: JD, DASH, PYPL, DPZ, MSFT, TGT, VMEO, SE, SHOP, DDOG\nTop exits: NFLX, NUAN, PINS, AAP, NKE, MU, SIG, TPX, TPR, WYNN\nBoosted stakes in: AMZN, ATVI, ALGN, LYV, LH, EXPE, SEAS, SNOW, PVH, TXRH\nCut stakes in: MA, FB, BBWI, GOOGL, SBUX, UBER, FICO, NTES, HLT, NOW\n\nOMEGA ADVISORS\n\nTop new buys: LAD, BHC, VOO, PFSI, EFA, IVW, COG, SCHO, IEUR, EWJ\nTop exits: MGY, IFF, CMCSA\nBoosted stakes in: FOA, WSC, VRT, NRG, PXD, ABR, ASH, ASPU, BABA, FLMN\nCut stakes in: FOE, NAVI, OCN, TRN, BBDC, FCRD, SRGA, FB, SNR\n\nPERSHING SQUARE\n\nBoosted stakes in: DPZ\nCut stakes in: LOW, QSR, HLT, A\n\nSOROBAN CAPITAL\n\nTop new buys: FB, TWTR, NFLX, WAB, KAHC, LGV, BKI, PLNT, MSDA, TIOA\nTop exits: BABA, CMCSA, DPZ, RTX, GRA, GWRE, ALIT, SFTW, SPFR\nBoosted stakes in: LOW, CSX, ADI, UNP, FIS, VYGG, BTNB\nCut stakes in: ATUS, SPGI, PAYO, KVSB, ME, SUNL, BGRY, GNAC, DOMA, NSH\n\nSOROS FUND MANAGEMENT\n\nTop new buys: FIGS, INFO, PTRA, MQ, PPD, VER, NUAN, MGLN, INDI, ACN\nTop exits: BIDU, DEN, VIPS, TME, IQ, DISCK, XLE, MU, ASHR, WAL\nBoosted stakes in: AMZN, MXIM, ELAN, GOOGL, CLVT, DIS, OPEN, W, CRM, SYF\nCut stakes in: LQD, QS, VICI, UPST, TXN, LVS, ADI, NXPI, DHI, LPLA\n\nSTARBOARD\n\nTop new buys: PZZA, WPCB, LEGA, KAHC, SLAM, FRXB, ATMR, ROSS, MACC, ACAH\nBoosted stakes in: CERN, BOX, IWM, IWR, TWCT, KVSC, DGNU, PRPB, LNFA, ON\nCut stakes in: CTVA, IWN, ACM, MAAC, SCOR, NLOK, MMSI, ELAN, CVLT\n\nTEMASEK HOLDINGS\n\nTop new buys: ABNB, INTA, FLYW, PAYO, KRE, STEM, LCTU, INTC, SOFI, COPX\nTop exits: XLF, ADBE, INDA, EWZ, ACIU, PCVX\nBoosted stakes in: BILL, BEAM, TMO, DELL, EWY, IBN, IAU, CRM, SNOW, AFRM\nCut stakes in: WISH, IWM, BABA, MSFT, XLB, CTVA, DASH, RBLX\n\nTHIRD POINT\n\nTop new buys: S, SOFI, EDR, ZBH, PTON, RTPY, JWSM, ASZ, IACC, AUS\nTop exits: IAA, RACE, KMX, Z, SHOP, CVNA, ETRN, NYT, WISH, RKT\nBoosted stakes in: INTC, AMZN, DELL, CANO, EL, UBER, SU, RH, DD, AES\nCut stakes in: CHTR, PCG, JD, IQV, DIS, RADI, APTV, BOAC, MTTR, TEL\n\nTIGER GLOBAL\n\nTop new buys: PCOR, PATH, COIN, DV, BHG, DLO, APP, S, GRUB, KPLT\nTop exits: ASO\nBoosted stakes in: DASH, DOCU, ZM, SHOP, SE, SNOW, CVNA, PTON, YSG, RNG\nCut stakes in: CRM, TAL, JD, EDU, RBLX, GDS, UBER, DESP, BABA, RDFN","news_type":1},"isVote":1,"tweetType":1,"viewCount":578,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894244580,"gmtCreate":1628833701540,"gmtModify":1676529869422,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/894244580","repostId":"1188620903","repostType":4,"isVote":1,"tweetType":1,"viewCount":621,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":892305934,"gmtCreate":1628637777928,"gmtModify":1676529802005,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/892305934","repostId":"2158035654","repostType":4,"isVote":1,"tweetType":1,"viewCount":555,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896238153,"gmtCreate":1628583830772,"gmtModify":1703508546865,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/5UF.SI\">$MAXI-CASH FIN SVCS CORP LTD(5UF.SI)$</a>Still corner move up only alittle kenna sell down","listText":"<a href=\"https://laohu8.com/S/5UF.SI\">$MAXI-CASH FIN SVCS CORP LTD(5UF.SI)$</a>Still corner move up only alittle kenna sell down","text":"$MAXI-CASH FIN SVCS CORP LTD(5UF.SI)$Still corner move up only alittle kenna sell down","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":1,"link":"https://ttm.financial/post/896238153","isVote":1,"tweetType":1,"viewCount":397,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896324362,"gmtCreate":1628557857656,"gmtModify":1703508033997,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/896324362","repostId":"1196813173","repostType":4,"repost":{"id":"1196813173","kind":"news","pubTimestamp":1628550902,"share":"https://ttm.financial/m/news/1196813173?lang=&edition=fundamental","pubTime":"2021-08-10 07:15","market":"us","language":"en","title":"Stocks making the biggest moves in the premarket: Casper Sleep, AMC Entertainment, 3D Systems and more","url":"https://stock-news.laohu8.com/highlight/detail?id=1196813173","media":"CNBC","summary":"Casper Sleep Inc. – The sleep products company reported record quarterly revenue that came in above ","content":"<div>\n<p>Casper Sleep Inc. – The sleep products company reported record quarterly revenue that came in above Street forecasts, though it still reported a quarterly loss. Casper Sleep said it saw strong growth ...</p>\n\n<a href=\"https://www.cnbc.com/2021/08/10/stocks-making-the-biggest-moves-in-the-premarket-casper-sleep-amc-entertainment-3d-systems-and-more.html?&qsearchterm=biggest%20moves\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks making the biggest moves in the premarket: Casper Sleep, AMC Entertainment, 3D Systems and more</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks making the biggest moves in the premarket: Casper Sleep, AMC Entertainment, 3D Systems and more\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-10 07:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/08/10/stocks-making-the-biggest-moves-in-the-premarket-casper-sleep-amc-entertainment-3d-systems-and-more.html?&qsearchterm=biggest%20moves><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Casper Sleep Inc. – The sleep products company reported record quarterly revenue that came in above Street forecasts, though it still reported a quarterly loss. Casper Sleep said it saw strong growth ...</p>\n\n<a href=\"https://www.cnbc.com/2021/08/10/stocks-making-the-biggest-moves-in-the-premarket-casper-sleep-amc-entertainment-3d-systems-and-more.html?&qsearchterm=biggest%20moves\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线","KSU":"堪萨斯南方铁路","CHGG":"Chegg Inc","IIVI":"COHERENT CORP 6.00% MANDATORY CON PFD SER A","ARMK":"Aramark","DDD":"3D系统","IHG":"洲际酒店","PLNT":"Planet Fitness Inc"},"source_url":"https://www.cnbc.com/2021/08/10/stocks-making-the-biggest-moves-in-the-premarket-casper-sleep-amc-entertainment-3d-systems-and-more.html?&qsearchterm=biggest%20moves","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1196813173","content_text":"Casper Sleep Inc. – The sleep products company reported record quarterly revenue that came in above Street forecasts, though it still reported a quarterly loss. Casper Sleep said it saw strong growth in both retail and direct-to-consumer sales channels, but noted that it is also dealing with higher input costs and supply chain difficulties. Shares initially rallied in the premarket, but subsequently tumbled 6.1%.\nAMC Entertainment – AMC reported a quarterly loss of 71 cents per share, 20 cents a share smaller than Wall Street had anticipated. Revenue came in above analysts’ forecasts. AMC was helped by the lifting of Covid restrictions and the return of moviegoers to theaters, along with the release of several hit movies. Its shares surged 7.8% in premarket action.\n3D – 3D Systems earned 12 cents per share for its latest quarter, beating the 5 cents a share consensus estimate. The 3D printing technology company’s revenue beat estimates as well. 3D said it had successfully come through the most challenging 12 months it had ever experienced amid the pandemic. 3D’s stock soared 14.1% in premarket action.\nKansas City Southern –Canadian Pacific Railway(CP) raised its cash-and-stock offer for Kansas City Southern to about $300 per share. Canadian Pacific had struck a deal to buy its rival rail operator for $275 per share, but Kansas City Southern subsequently agreed to a higher offer fromCanadian National Railway(CNI). Kansas City Southern surged 7.2% in the premarket, while Canadian Pacific lost 1.7% and Canadian National rose 1.9%.\nAramark – The foodservice company reported a quarterly profit of 3 cents per share, beating the penny a share consensus estimate. Revenue came in slightly below forecasts. Aramark said it benefited from rebounding sales volume as well as effective cost management. Aramark shares added 1.3% in the premarket.\nPlanet Fitness – Planet Fitness missed estimates by 2 cents a share, with quarterly earnings of 21 cents per share. Revenue topped estimates as gyms reopened and membership numbers increased for the fitness center operator. Shares fell 3.2% in the premarket.\nThe RealReal – The RealReal lost 50 cents per share for its latest quarter, 3 cents a share wider than analysts had anticipated. The operator of an online pre-owned luxury goods marketplace also saw revenue fall short of estimates. The company said gross merchandise volume was up 91% compared to a year ago, and up 84.5% from repeat buyers. The stock slid 6% in premarket trading.\nChegg – Chegg beat estimates by 6 cents a share, with quarterly earnings of 43 cents per share. The online education company’s revenue also topped forecasts. Chegg raised its full-year outlook, saying its international growth continues to be strong. Its shares added 2.9% in the premarket.\nInterContinental Hotels Group PLC – InterContinental Hotels reported an operating profit for the first six months of the year, rebounding from a year-ago loss as summer vacation bookings jumped. The operator of Holiday Inn and other hotel chains eliminated its dividend to cut costs, however, sending its shares down 1.6% in premarket trading.\nII-VI Inc – The maker of optoelectronic components beat estimates on the top and bottom lines for its latest quarter, earning 88 cents per share compared to a 76 cents a share consensus estimate. It also had its highest-ever backlog at the end of the quarter.","news_type":1},"isVote":1,"tweetType":1,"viewCount":645,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804944246,"gmtCreate":1627918352785,"gmtModify":1703497948658,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/804944246","repostId":"1172320411","repostType":4,"isVote":1,"tweetType":1,"viewCount":1101,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804948774,"gmtCreate":1627918132598,"gmtModify":1703497943544,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/804948774","repostId":"1172320411","repostType":4,"repost":{"id":"1172320411","kind":"news","pubTimestamp":1627907414,"share":"https://ttm.financial/m/news/1172320411?lang=&edition=fundamental","pubTime":"2021-08-02 20:30","market":"us","language":"en","title":"August Is Actually A Great Month If You Own These 8 Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1172320411","media":"investors","summary":"August is feared as $one$ of the worst months for the S&P 500 — and for good reason. But investorsstill find ways to make big money.Eight stocks inthe S&P 500, mostly tech and communications services firms likeNvidia,IBD Long-Term Leader$Microsoft$ and$Twitter$, are complete standouts in the S&P 500 in August, says an Investor's Business Daily analysis of data from S&P Global Market Intelligence andMarketSmith.All these stocks not only topped the S&P 500 in August in each of the past five years.","content":"<p>August is feared as <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the worst months for the S&amp;P 500 — and for good reason. But investorsstill find ways to make big money.</p>\n<p>Eight stocks inthe S&amp;P 500, mostly tech and communications services firms like<b>Nvidia</b>(NVDA),IBD Long-Term Leader<b><a href=\"https://laohu8.com/S/MSFT\">Microsoft</a></b>(MSFT) and<b><a href=\"https://laohu8.com/S/TWTR\">Twitter</a></b>(TWTR), are complete standouts in the S&amp;P 500 in August, says an Investor's Business Daily analysis of data from S&amp;P Global Market Intelligence andMarketSmith.</p>\n<p>All these stocks not only topped the S&amp;P 500 in August in each of the past five years. They also all posted average gains in the month of 4% or more.</p>\n<p>And that qualifies as a good August — which for most people ranks among the very worst months of the year.</p>\n<p><b>August Is Usually Tough For The S&amp;P 500</b></p>\n<p>Going back to 1950, the S&amp;P 500 slipped 0.2% in August on average, says Stock Trader's Almanac. That ranks August as the eleventh-worst month of the year for the index.</p>\n<p>Andunderperformance in Augustisn't a fluke. It can sometimes come in dead last.</p>\n<p>\"August is the worst ... S&amp;P 500 month during 1988 through 2020,\" says Stock Trader's Almanac. \"In post-election years since 1950, August is still ranked no higher than #11 while average performance slips deeper into negative territory.\"</p>\n<p>More recently, though, August spared S&amp;P 500 investors some of the pain.</p>\n<p>Last August, for instance, the S&amp;P 500 vaulted 7% higher during the month. It was at that time investors began to anticipate the reopening of the economy. But in just the prior August of 2019, the S&amp;P 500 slipped 1.8%.</p>\n<p>But not all S&amp;P 500 stocks suffer in August.</p>\n<p><b>Technology Is The S&amp;P 500 Place To Be In August</b></p>\n<p><a href=\"https://laohu8.com/S/JE\">Just</a> <a href=\"https://laohu8.com/S/AONE.U\">one</a> S&amp;P 500 sector routinely skates through August. Andit's technology.</p>\n<p>The Technology <a href=\"https://laohu8.com/S/SLCT\">Select</a> Sector SPDR (XLK) is the only sector out of the 11 that topped the S&amp;P 500 in each of the past five years. And during August the past five years, the tech sector gained 4.2% on average. That's a particularly strong showing if you consider the S&amp;P 50o only rose 1.6% on average in August going back to 2016.</p>\n<p>And it's not just the overall S&amp;P 500 tech sector that outperforms in August. Drilling down into the individual tech stock winners tells the same story. Six out of the eight top performing S&amp;P 500 stocks in Augusthail from the tech sector.</p>\n<p>Take the No. 1 performer in the month: high-end computer chip maker Nvidia. It topped the S&amp;P 500 during August in each of the past five years. But it's also put up an average gain in the month of 10.3%. All eyes are on whether Nvidia can pull it off again. Shares are already up nearly 50% this year.</p>\n<p>Analysts are looking for the company in August to report 53% lower adjusted second-quarter profit of $1.02 share. But Nvidia has a knack at overdelivering. Profit in the first-quarter topped expectations by more than 350%.Should you buy Nvidia stock now?</p>\n<p>Another big tech winner in August isMicrosoft. The software giant's shares pushed 4.3% higher in August, on average, the past five years.</p>\n<p><b>Get Ready For August S&amp;P 500 Surprises</b></p>\n<p>August is only starting, and already investors are coming off some surprises. Expect more.</p>\n<p>Take <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> for instance. It, too, is a strong August performer. It's risen more than 8.5% in August, on average, in the past five years. Shares are already up 28.6% this year. Why? The communications firm reported, in July, a profit of 20 cents a share. That demolished expectations by more than 185%. That ranks as one of thetop surprises in an already robust second-quarter profit reporting season.</p>\n<p>So, yes, August isn't usually great for the S&amp;P 500. But you can still find winners if you pick your spots in this tricky month.</p>\n<p><b>Top S&amp;P 500 Stocks In August</b></p>\n<p><i>All topped the index in each August for at least past five years</i></p>\n<p><img src=\"https://static.tigerbbs.com/3a7a31319541a52991d1b6112a83e82a\" tg-width=\"741\" tg-height=\"400\" referrerpolicy=\"no-referrer\"></p>\n<p></p>","source":"lsy1610449120050","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>August Is Actually A Great Month If You Own These 8 Stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAugust Is Actually A Great Month If You Own These 8 Stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-02 20:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investors.com/etfs-and-funds/sectors/sp500-august-is-actually-a-great-month-if-you-own-these-8-stocks/?src=A00220><strong>investors</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>August is feared as one of the worst months for the S&P 500 — and for good reason. But investorsstill find ways to make big money.\nEight stocks inthe S&P 500, mostly tech and communications services ...</p>\n\n<a href=\"https://www.investors.com/etfs-and-funds/sectors/sp500-august-is-actually-a-great-month-if-you-own-these-8-stocks/?src=A00220\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达","SNPS":"新思科技","CTAS":"信达思","TWTR":"Twitter","MSFT":"微软","V":"Visa","MA":"万事达","INTU":"财捷"},"source_url":"https://www.investors.com/etfs-and-funds/sectors/sp500-august-is-actually-a-great-month-if-you-own-these-8-stocks/?src=A00220","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172320411","content_text":"August is feared as one of the worst months for the S&P 500 — and for good reason. But investorsstill find ways to make big money.\nEight stocks inthe S&P 500, mostly tech and communications services firms likeNvidia(NVDA),IBD Long-Term LeaderMicrosoft(MSFT) andTwitter(TWTR), are complete standouts in the S&P 500 in August, says an Investor's Business Daily analysis of data from S&P Global Market Intelligence andMarketSmith.\nAll these stocks not only topped the S&P 500 in August in each of the past five years. They also all posted average gains in the month of 4% or more.\nAnd that qualifies as a good August — which for most people ranks among the very worst months of the year.\nAugust Is Usually Tough For The S&P 500\nGoing back to 1950, the S&P 500 slipped 0.2% in August on average, says Stock Trader's Almanac. That ranks August as the eleventh-worst month of the year for the index.\nAndunderperformance in Augustisn't a fluke. It can sometimes come in dead last.\n\"August is the worst ... S&P 500 month during 1988 through 2020,\" says Stock Trader's Almanac. \"In post-election years since 1950, August is still ranked no higher than #11 while average performance slips deeper into negative territory.\"\nMore recently, though, August spared S&P 500 investors some of the pain.\nLast August, for instance, the S&P 500 vaulted 7% higher during the month. It was at that time investors began to anticipate the reopening of the economy. But in just the prior August of 2019, the S&P 500 slipped 1.8%.\nBut not all S&P 500 stocks suffer in August.\nTechnology Is The S&P 500 Place To Be In August\nJust one S&P 500 sector routinely skates through August. Andit's technology.\nThe Technology Select Sector SPDR (XLK) is the only sector out of the 11 that topped the S&P 500 in each of the past five years. And during August the past five years, the tech sector gained 4.2% on average. That's a particularly strong showing if you consider the S&P 50o only rose 1.6% on average in August going back to 2016.\nAnd it's not just the overall S&P 500 tech sector that outperforms in August. Drilling down into the individual tech stock winners tells the same story. Six out of the eight top performing S&P 500 stocks in Augusthail from the tech sector.\nTake the No. 1 performer in the month: high-end computer chip maker Nvidia. It topped the S&P 500 during August in each of the past five years. But it's also put up an average gain in the month of 10.3%. All eyes are on whether Nvidia can pull it off again. Shares are already up nearly 50% this year.\nAnalysts are looking for the company in August to report 53% lower adjusted second-quarter profit of $1.02 share. But Nvidia has a knack at overdelivering. Profit in the first-quarter topped expectations by more than 350%.Should you buy Nvidia stock now?\nAnother big tech winner in August isMicrosoft. The software giant's shares pushed 4.3% higher in August, on average, the past five years.\nGet Ready For August S&P 500 Surprises\nAugust is only starting, and already investors are coming off some surprises. Expect more.\nTake Twitter for instance. It, too, is a strong August performer. It's risen more than 8.5% in August, on average, in the past five years. Shares are already up 28.6% this year. Why? The communications firm reported, in July, a profit of 20 cents a share. That demolished expectations by more than 185%. That ranks as one of thetop surprises in an already robust second-quarter profit reporting season.\nSo, yes, August isn't usually great for the S&P 500. But you can still find winners if you pick your spots in this tricky month.\nTop S&P 500 Stocks In August\nAll topped the index in each August for at least past five years","news_type":1},"isVote":1,"tweetType":1,"viewCount":577,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802746889,"gmtCreate":1627813748641,"gmtModify":1703496211237,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up yp","listText":"Up up yp","text":"Up up yp","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/802746889","repostId":"2155001152","repostType":4,"repost":{"id":"2155001152","kind":"news","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1627675228,"share":"https://ttm.financial/m/news/2155001152?lang=&edition=fundamental","pubTime":"2021-07-31 04:00","market":"us","language":"en","title":"Wall Street declines with Amazon; S&P 500 posts gains for month","url":"https://stock-news.laohu8.com/highlight/detail?id=2155001152","media":"Reuters","summary":"U.S. consumer spending rises in June, inflation increases . NEW YORK, July 30  - U.S. stocks fell on Friday with Amazon.com shares declining after the company forecast lower sales growth, but the S&P 500 still posted a sixth straight month of gains.Amazon.com Inc shares sank after it reported late on Thursday revenue for the second quarter that was shy of analysts' average estimate and said sales growth would ease in the next few quarters as customers ventured more outside the home.Shares of oth","content":"<ul>\n <li>Pinterest sinks on stalled U.S. user growth</li>\n <li>U.S. consumer spending rises in June, inflation increases (Updates to close)</li>\n</ul>\n<p>NEW YORK, July 30 (Reuters) - U.S. stocks fell on Friday with Amazon.com shares declining after the company forecast lower sales growth, but the S&amp;P 500 still posted a sixth straight month of gains.</p>\n<p>Amazon.com Inc shares sank after it reported late on Thursday revenue for the second quarter that was shy of analysts' average estimate and said sales growth would ease in the next few quarters as customers ventured more outside the home.</p>\n<p>Shares of other internet and tech giants that did well during the lockdowns of last year, including Google parent Alphabet Inc and <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc, were mostly lower.</p>\n<p>\"Overall earnings have been good. But Amazon ... and some of last year's winners are taking some of the air out of the market today,\" said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. \"This market has been driven by big tech and when tech does well, the market seems to go right along with it, and when it doesn't,\" it falls.</p>\n<p>Data on Friday showed U.S. consumer spending rose more than expected in June, although annual inflation accelerated further above the Federal Reserve's 2% target.</p>\n<p>Unofficially, the Dow Jones Industrial Average fell 146.36 points, or 0.42%, to 34,938.17, the S&amp;P 500 lost 23.58 points, or 0.53%, to 4,395.57 and the Nasdaq Composite dropped 101.51 points, or 0.69%, to 14,676.76.</p>\n<p>Strong earnings and the continued rebound in the U.S. economy have helped to support stocks this month, but the rapid spread of the Delta variant of the coronavirus and rising inflation have been concerns.</p>\n<p>\"There are still some distant jitters, whispers about the Delta variant, about cases rising, and I think some underlying worries about a slowdown of the reopenings and possible reversal,\" Dollarhide said.</p>\n<p>Also on the earnings front, Pampers maker Procter &amp; Gamble Co rose as it forecast higher core earnings for this year, and U.S.-listed shares of Canada's <a href=\"https://laohu8.com/S/QSR\">Restaurant Brands International Inc</a> jumped after the Burger King owner beat estimates for quarterly profit.</p>\n<p>Pinterest Inc, however, plunged after saying U.S. user growth was decelerating as people who used the platform for crafts and DIY projects during the height of the pandemic were stepping out more.</p>\n<p>Caterpillar Inc shares also fell, even though the company posted a rise in second-quarter adjusted profit on the back of a recovery in global economic activity.</p>\n<p>Results on the quarter overall have been much stronger than expected, with about 89% of the reports beating analysts' estimates on earnings, according to IBES data from Refinitiv. Earnings are now expected to have climbed 89.8% in the second quarter versus forecasts of 65.4% at the start of July. (Reporting by Caroline Valetkevitch in New York Additional reporting by Sagarika Jaisinghani in Bengaluru Editing by Arun Koyyur and Matthew Lewis)</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street declines with Amazon; S&P 500 posts gains for month</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street declines with Amazon; S&P 500 posts gains for month\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-31 04:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>Pinterest sinks on stalled U.S. user growth</li>\n <li>U.S. consumer spending rises in June, inflation increases (Updates to close)</li>\n</ul>\n<p>NEW YORK, July 30 (Reuters) - U.S. stocks fell on Friday with Amazon.com shares declining after the company forecast lower sales growth, but the S&amp;P 500 still posted a sixth straight month of gains.</p>\n<p>Amazon.com Inc shares sank after it reported late on Thursday revenue for the second quarter that was shy of analysts' average estimate and said sales growth would ease in the next few quarters as customers ventured more outside the home.</p>\n<p>Shares of other internet and tech giants that did well during the lockdowns of last year, including Google parent Alphabet Inc and <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc, were mostly lower.</p>\n<p>\"Overall earnings have been good. But Amazon ... and some of last year's winners are taking some of the air out of the market today,\" said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. \"This market has been driven by big tech and when tech does well, the market seems to go right along with it, and when it doesn't,\" it falls.</p>\n<p>Data on Friday showed U.S. consumer spending rose more than expected in June, although annual inflation accelerated further above the Federal Reserve's 2% target.</p>\n<p>Unofficially, the Dow Jones Industrial Average fell 146.36 points, or 0.42%, to 34,938.17, the S&amp;P 500 lost 23.58 points, or 0.53%, to 4,395.57 and the Nasdaq Composite dropped 101.51 points, or 0.69%, to 14,676.76.</p>\n<p>Strong earnings and the continued rebound in the U.S. economy have helped to support stocks this month, but the rapid spread of the Delta variant of the coronavirus and rising inflation have been concerns.</p>\n<p>\"There are still some distant jitters, whispers about the Delta variant, about cases rising, and I think some underlying worries about a slowdown of the reopenings and possible reversal,\" Dollarhide said.</p>\n<p>Also on the earnings front, Pampers maker Procter &amp; Gamble Co rose as it forecast higher core earnings for this year, and U.S.-listed shares of Canada's <a href=\"https://laohu8.com/S/QSR\">Restaurant Brands International Inc</a> jumped after the Burger King owner beat estimates for quarterly profit.</p>\n<p>Pinterest Inc, however, plunged after saying U.S. user growth was decelerating as people who used the platform for crafts and DIY projects during the height of the pandemic were stepping out more.</p>\n<p>Caterpillar Inc shares also fell, even though the company posted a rise in second-quarter adjusted profit on the back of a recovery in global economic activity.</p>\n<p>Results on the quarter overall have been much stronger than expected, with about 89% of the reports beating analysts' estimates on earnings, according to IBES data from Refinitiv. Earnings are now expected to have climbed 89.8% in the second quarter versus forecasts of 65.4% at the start of July. (Reporting by Caroline Valetkevitch in New York Additional reporting by Sagarika Jaisinghani in Bengaluru Editing by Arun Koyyur and Matthew Lewis)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","IVV":"标普500指数ETF","UPRO":"三倍做多标普500ETF","AMZN":"亚马逊",".SPX":"S&P 500 Index","OEX":"标普100","COMP":"Compass, Inc.","SSO":"两倍做多标普500ETF","SH":"标普500反向ETF","SPY":"标普500ETF","CAT":"卡特彼勒","OEF":"标普100指数ETF-iShares","SPXU":"三倍做空标普500ETF","SDS":"两倍做空标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2155001152","content_text":"Pinterest sinks on stalled U.S. user growth\nU.S. consumer spending rises in June, inflation increases (Updates to close)\n\nNEW YORK, July 30 (Reuters) - U.S. stocks fell on Friday with Amazon.com shares declining after the company forecast lower sales growth, but the S&P 500 still posted a sixth straight month of gains.\nAmazon.com Inc shares sank after it reported late on Thursday revenue for the second quarter that was shy of analysts' average estimate and said sales growth would ease in the next few quarters as customers ventured more outside the home.\nShares of other internet and tech giants that did well during the lockdowns of last year, including Google parent Alphabet Inc and Facebook Inc, were mostly lower.\n\"Overall earnings have been good. But Amazon ... and some of last year's winners are taking some of the air out of the market today,\" said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. \"This market has been driven by big tech and when tech does well, the market seems to go right along with it, and when it doesn't,\" it falls.\nData on Friday showed U.S. consumer spending rose more than expected in June, although annual inflation accelerated further above the Federal Reserve's 2% target.\nUnofficially, the Dow Jones Industrial Average fell 146.36 points, or 0.42%, to 34,938.17, the S&P 500 lost 23.58 points, or 0.53%, to 4,395.57 and the Nasdaq Composite dropped 101.51 points, or 0.69%, to 14,676.76.\nStrong earnings and the continued rebound in the U.S. economy have helped to support stocks this month, but the rapid spread of the Delta variant of the coronavirus and rising inflation have been concerns.\n\"There are still some distant jitters, whispers about the Delta variant, about cases rising, and I think some underlying worries about a slowdown of the reopenings and possible reversal,\" Dollarhide said.\nAlso on the earnings front, Pampers maker Procter & Gamble Co rose as it forecast higher core earnings for this year, and U.S.-listed shares of Canada's Restaurant Brands International Inc jumped after the Burger King owner beat estimates for quarterly profit.\nPinterest Inc, however, plunged after saying U.S. user growth was decelerating as people who used the platform for crafts and DIY projects during the height of the pandemic were stepping out more.\nCaterpillar Inc shares also fell, even though the company posted a rise in second-quarter adjusted profit on the back of a recovery in global economic activity.\nResults on the quarter overall have been much stronger than expected, with about 89% of the reports beating analysts' estimates on earnings, according to IBES data from Refinitiv. Earnings are now expected to have climbed 89.8% in the second quarter versus forecasts of 65.4% at the start of July. (Reporting by Caroline Valetkevitch in New York Additional reporting by Sagarika Jaisinghani in Bengaluru Editing by Arun Koyyur and Matthew Lewis)","news_type":1},"isVote":1,"tweetType":1,"viewCount":241,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806648451,"gmtCreate":1627655156673,"gmtModify":1703494251685,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/806648451","repostId":"1194710219","repostType":4,"repost":{"id":"1194710219","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627652868,"share":"https://ttm.financial/m/news/1194710219?lang=&edition=fundamental","pubTime":"2021-07-30 21:47","market":"us","language":"en","title":"EV Stocks surged in Friday morning trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1194710219","media":"Tiger Newspress","summary":"EV Stocks surged in Friday morning trading.Tesla,Nio,Xpeng Motors and Li Auto&nbsp;climbed between 1% and 6%.","content":"<p>EV Stocks surged in Friday morning trading.Tesla,Nio,Xpeng Motors and Li Auto&nbsp;climbed between 1% and 6%.</p>\n<p><img src=\"https://static.tigerbbs.com/c821968998f7b667eae78a4ed3ede421\" tg-width=\"352\" tg-height=\"594\" width=\"100%\" height=\"auto\"></p>\n<p></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>EV Stocks surged in Friday morning trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEV Stocks surged in Friday morning trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-30 21:47</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>EV Stocks surged in Friday morning trading.Tesla,Nio,Xpeng Motors and Li Auto&nbsp;climbed between 1% and 6%.</p>\n<p><img src=\"https://static.tigerbbs.com/c821968998f7b667eae78a4ed3ede421\" tg-width=\"352\" tg-height=\"594\" width=\"100%\" height=\"auto\"></p>\n<p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","LI":"理想汽车","NIO":"蔚来","XPEV":"小鹏汽车","NIU":"小牛电动"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194710219","content_text":"EV Stocks surged in Friday morning trading.Tesla,Nio,Xpeng Motors and Li Auto climbed between 1% and 6%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":90,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171974880,"gmtCreate":1626704481940,"gmtModify":1703763708830,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Hotter","listText":"Hotter","text":"Hotter","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/171974880","repostId":"1146536243","repostType":4,"repost":{"id":"1146536243","kind":"news","pubTimestamp":1626683272,"share":"https://ttm.financial/m/news/1146536243?lang=&edition=fundamental","pubTime":"2021-07-19 16:27","market":"us","language":"en","title":"Morgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual","url":"https://stock-news.laohu8.com/highlight/detail?id=1146536243","media":"zerohedge","summary":"This cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.","content":"<p>We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.</p>\n<p>The debate over cycle 'normalcy' is self-explanatory. The pandemic created, without exaggeration, the single sharpest decline in output in recorded history. Then activity raced back, helped by policy support. The case for viewing this situation as unique, and distinct from other cyclical experiences, is based on the view that a fall and rise this violent never allowed for a traditional 'reset'.</p>\n<p>But 'normal' in markets is a funny concept, with the rough edges of memory often smoothed and polished by the passage of time. The cycle of 2003-07 ended with the largest banking and housing crisis since the Great Depression. The cycle of 1992-2000 ended with the bursting of an enormous equity bubble, widespread accounting fraud and unspeakable tragedy. 'Normal' cycles are nice in theory, harder in practice.</p>\n<p>Instead, let’s consider why we use the term ‘cycle’ at all. Economies and markets tend to follow cyclical patterns, patterns that tend to show up in market performance. It is those patterns we care about, and if they still apply, they can provide a useful guide in uncertain terrain.</p>\n<p>Was last year’s recession preceded by late-cycle conditions such as an inverted yield curve, low volatility, low unemployment, high consumer confidence and narrowing equity market breadth? It was. Did the resulting troughs in equities, credit, yields and yield curves match the usual cadence between market and economic lows? They did. And were the leaders of the ensuing rally the usual early-cycle winners, like small and cyclical stocks, high yield credit and industrial metals? They were.</p>\n<p>If it walks like a duck and quacks like a duck, we think that it’s a normal cycle. Or as normal as these things realistically are.&nbsp;If a lot of 'normal' cycle behavior has played out so far, it should&nbsp;<i>continue</i>&nbsp;to do so.</p>\n<p>Specifically, this relates to patterns of performance as the market recovers. And as that recovery advances, those patterns should shift. As noted by my colleague Michael Wilson, we think that we are moving to a mid-cycle market, despite being just 16 months removed from the lows of economic activity. We see a number of similarities between current conditions and 1H04, a mid-cycle period that followed a large, reflationary rally. And importantly, despite recent fears about growth, we think that the global recovery will keep pushing on (see&nbsp;The Growth Scare Anniversary, July 11, 2021).</p>\n<p>Because one can always find an indicator that fits their particular cycle view, we’ve long been fans of a composite. That’s our ‘cycle model’, which combines ten US metrics across macro, the credit cycle and corporate aggression to gauge where we are in the market cycle. After moving into late-cycle ‘downturn’ in June 2019, and early-cycle ‘repair’ in April 2020, it’s rocketed higher.<b>It has risen so fast that it’s blown right past what should be the next phase ('recovery'), and moved right into ‘expansion’.</b></p>\n<p><img src=\"https://static.tigerbbs.com/41879c4f66b33597ee236bdd52841004\" tg-width=\"904\" tg-height=\"490\" referrerpolicy=\"no-referrer\">Thisis unusual. ‘Expansion’ is meant to capture conditions that are 'better than normal, and improving',<b>and since 1980, it has taken an average of 35 months to get there after 'downturn' ends</b>. Its speedy arrival speaks to a speedy recovery powered by enormous policy support.<b>It also hints at another possibility:&nbsp;this hotter cycle could be shorter.</b>This is our thesis, and it’s showing up in our quantitative measure.</p>\n<p>All this has a number of implications:</p>\n<ul>\n <li><b>The shorter the cycle, the worse for credit relative to other risky assets; credit enjoys fewer of the gains from the 'boom', is exposed if the next downturn is early, and faces more supply as corporate confidence increases</b>. In the ‘expansion’ phase of our cycle model, US IG and HY credit N12M excess returns are 29bp and 161bp worse than average, respectively.</li>\n <li><b>In many of those periods, more mixed credit performance occurs despite default rates remaining low</b>. Investors should try to take default risk over spread risk: our credit strategists like owning CDX HY 0-15%, and hedging with CDX IG payer spreads.</li>\n <li><b>In equities, we think that our model supports more balance in portfolios</b>. We like healthcare in both the US and Europe as a sector with several nice factor exposures: quality, low valuation, high carry and low volatility. Globally, equities in Europe and Japan have tended to outperform 'mid-cycle', and we think that they can do so again.</li>\n <li><b>Interest rates are too pessimistic on the recovery. US 10-year Treasury N12M returns are 97bp worse than average during the ‘expansion’ phase of our cycle model</b>. Guneet Dhingra and our US interest rate strategy team have moved underweight US 10-year Treasuries, and we in turn have moved back underweight government bonds in our global asset allocation.</li>\n</ul>\n<p>This cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.</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>Morgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual</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\">\nMorgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-19 16:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/morgan-stanley-cycle-will-be-hotter-shorter-usual><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.\nThe debate over cycle '...</p>\n\n<a href=\"https://www.zerohedge.com/markets/morgan-stanley-cycle-will-be-hotter-shorter-usual\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/morgan-stanley-cycle-will-be-hotter-shorter-usual","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146536243","content_text":"We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.\nThe debate over cycle 'normalcy' is self-explanatory. The pandemic created, without exaggeration, the single sharpest decline in output in recorded history. Then activity raced back, helped by policy support. The case for viewing this situation as unique, and distinct from other cyclical experiences, is based on the view that a fall and rise this violent never allowed for a traditional 'reset'.\nBut 'normal' in markets is a funny concept, with the rough edges of memory often smoothed and polished by the passage of time. The cycle of 2003-07 ended with the largest banking and housing crisis since the Great Depression. The cycle of 1992-2000 ended with the bursting of an enormous equity bubble, widespread accounting fraud and unspeakable tragedy. 'Normal' cycles are nice in theory, harder in practice.\nInstead, let’s consider why we use the term ‘cycle’ at all. Economies and markets tend to follow cyclical patterns, patterns that tend to show up in market performance. It is those patterns we care about, and if they still apply, they can provide a useful guide in uncertain terrain.\nWas last year’s recession preceded by late-cycle conditions such as an inverted yield curve, low volatility, low unemployment, high consumer confidence and narrowing equity market breadth? It was. Did the resulting troughs in equities, credit, yields and yield curves match the usual cadence between market and economic lows? They did. And were the leaders of the ensuing rally the usual early-cycle winners, like small and cyclical stocks, high yield credit and industrial metals? They were.\nIf it walks like a duck and quacks like a duck, we think that it’s a normal cycle. Or as normal as these things realistically are. If a lot of 'normal' cycle behavior has played out so far, it should continue to do so.\nSpecifically, this relates to patterns of performance as the market recovers. And as that recovery advances, those patterns should shift. As noted by my colleague Michael Wilson, we think that we are moving to a mid-cycle market, despite being just 16 months removed from the lows of economic activity. We see a number of similarities between current conditions and 1H04, a mid-cycle period that followed a large, reflationary rally. And importantly, despite recent fears about growth, we think that the global recovery will keep pushing on (see The Growth Scare Anniversary, July 11, 2021).\nBecause one can always find an indicator that fits their particular cycle view, we’ve long been fans of a composite. That’s our ‘cycle model’, which combines ten US metrics across macro, the credit cycle and corporate aggression to gauge where we are in the market cycle. After moving into late-cycle ‘downturn’ in June 2019, and early-cycle ‘repair’ in April 2020, it’s rocketed higher.It has risen so fast that it’s blown right past what should be the next phase ('recovery'), and moved right into ‘expansion’.\nThisis unusual. ‘Expansion’ is meant to capture conditions that are 'better than normal, and improving',and since 1980, it has taken an average of 35 months to get there after 'downturn' ends. Its speedy arrival speaks to a speedy recovery powered by enormous policy support.It also hints at another possibility: this hotter cycle could be shorter.This is our thesis, and it’s showing up in our quantitative measure.\nAll this has a number of implications:\n\nThe shorter the cycle, the worse for credit relative to other risky assets; credit enjoys fewer of the gains from the 'boom', is exposed if the next downturn is early, and faces more supply as corporate confidence increases. In the ‘expansion’ phase of our cycle model, US IG and HY credit N12M excess returns are 29bp and 161bp worse than average, respectively.\nIn many of those periods, more mixed credit performance occurs despite default rates remaining low. Investors should try to take default risk over spread risk: our credit strategists like owning CDX HY 0-15%, and hedging with CDX IG payer spreads.\nIn equities, we think that our model supports more balance in portfolios. We like healthcare in both the US and Europe as a sector with several nice factor exposures: quality, low valuation, high carry and low volatility. Globally, equities in Europe and Japan have tended to outperform 'mid-cycle', and we think that they can do so again.\nInterest rates are too pessimistic on the recovery. US 10-year Treasury N12M returns are 97bp worse than average during the ‘expansion’ phase of our cycle model. Guneet Dhingra and our US interest rate strategy team have moved underweight US 10-year Treasuries, and we in turn have moved back underweight government bonds in our global asset allocation.\n\nThis cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.","news_type":1},"isVote":1,"tweetType":1,"viewCount":180,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179776823,"gmtCreate":1626581357262,"gmtModify":1703762014740,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/179776823","repostId":"1183956332","repostType":4,"repost":{"id":"1183956332","kind":"news","pubTimestamp":1626568120,"share":"https://ttm.financial/m/news/1183956332?lang=&edition=fundamental","pubTime":"2021-07-18 08:28","market":"us","language":"en","title":"US IPO Week Ahead: Software, soft drinks, specialty insurance, and more debut in a 17 IPO week","url":"https://stock-news.laohu8.com/highlight/detail?id=1183956332","media":"renaissancecap...","summary":"The IPO market’s breakneck pace is expected to continue in the week ahead, with a whopping 17 IPOs slated to raise $4.7 billion.The largest deal of the week, specialty insurance brokerage Ryan Specialty Group plans to raise $1.3 billion at a $6.1 billion market cap. The company assists in the placement of hard-to-place risks for retail insurance brokers, and the sourcing, onboarding, underwriting, and servicing of those hard-to-place risks for insurance carriers. Profitable on an EBIT basis in t","content":"<p>The IPO market’s breakneck pace is expected to continue in the week ahead, with a whopping 17 IPOs slated to raise $4.7 billion.</p>\n<p>The largest deal of the week, specialty insurance brokerage&nbsp;<b>Ryan Specialty Group</b>(RYAN) plans to raise $1.3 billion at a $6.1 billion market cap. The company assists in the placement of hard-to-place risks for retail insurance brokers, and the sourcing, onboarding, underwriting, and servicing of those hard-to-place risks for insurance carriers. Profitable on an EBIT basis in the 1Q21, the company will be leveraged post-IPO.</p>\n<p>Water infrastructure company&nbsp;<b>Core &amp; Main</b>(CNM) plans to raise $750 million at a $5.2 billion market cap in a 100% synthetic secondary offering. Profitable with solid growth, the company distributes water infrastructure products that connect 4,500 suppliers to over 60,000 municipal, non-residential, and residential customers.</p>\n<p>HR software provider&nbsp;<b>Paycor HCM</b>(PYCR) plans to raise $361 million at a $3.4 billion market cap. Paycor provides human capital management software to small and mid-sized businesses, covering the payroll process and key HR functionality. While net revenue retention fell in the FY20, the company is targeting a large addressable market and has a track record of profitability.</p>\n<p>Latin <a href=\"https://laohu8.com/S/AFG\">American</a> e-commerce platform&nbsp;<b><a href=\"https://laohu8.com/S/VTEX\">VTEX</a></b>(VTEX) plans to raise $304 million at a $3.2 billion market cap. VTEX operates a business-to-consumer e-commerce platform to enterprise customers that natively combines commerce, order management, and marketplace functionality. The company has demonstrated growth, though investments in SG&amp;A and R&amp;D have weighed on profits.</p>\n<p>Learning management platform&nbsp;<b>Instructure Holdings</b>(INST) plans to raise $250 million at a $2.9 billion market cap. The company provides a next-generation Learning Management System (LMS), assessments for learning, actionable analytics, and dynamic content. Instructure states that it is the LMS market leader in both Higher Education and paid K-12, with over 6,000 global customers across 90 countries.</p>\n<p>Protein discovery and development platform&nbsp;<b>AbSci</b>(ABSI) plans to raise $200 million at a $1.6 billion market cap. AbSci currently has nine active programs across seven partners, which include <a href=\"https://laohu8.com/S/MRK\">Merck</a> and Astellas, for which it has either negotiated or plans to negotiate license agreements. The company is highly unprofitable, and 90% of its tech development revenue came from a single partner in the 1Q21.</p>\n<p>Organic beverage brand&nbsp;<b><a href=\"https://laohu8.com/S/ZVIA\">Zevia PBC</a></b>(ZVIA) plans to raise $200 million at a $1.0 billion market cap. Zevia provides six product lines of zero calorie, zero sugar, naturally sweetened beverages in the US and Canada. The company has demonstrated growth and achieved profitability in the 1Q21.</p>\n<p>Content marketing platform&nbsp;<b>Outbrain</b>(OB) plans to raise $200 million at a $1.5 billion market cap. Outbrain’s platform enables over 7,000 online properties, helping them engage their users and monetize their visits by gathering over 1 billion data events each minute. Profitable with strong growth, the company had over 20,000 advertisers using its platform in 2020.</p>\n<p>Fitness franchisor&nbsp;<b>Xponential Fitness</b>(XPOF) plans to raise $200 million at a $711 million market cap. Xponential Fitness is the largest boutique fitness franchisor in the US with over 1,750 studios operating across nine distinct brands. While the company’s business was impacted by the pandemic in 2020, preliminary results for the 2Q21 show 60%+ revenue growth and adjusted EBITDA swinging positive.</p>\n<p>Legal software provider&nbsp;<b>CS Disco</b>(LAW) plans to raise $193 million at a $1.6 billion market cap. Fast growing and unprofitable, DISCO provides a cloud-native, AI-powered legal solution that simplifies ediscovery, legal document review, and case management for enterprises, law firms, legal services providers, and governments.</p>\n<p>Following its postponement in May, Brazil’s&nbsp;<b>Zenvia</b>(ZENV) plans to raise $162 million at a $548 million market cap. The company’s software platform facilitated the flow of communication for more than 10,190 customers throughout Latin America as of March 31, 2021. While it achieved a net revenue expansion rate of nearly 110%, Zenvia’s EBITDA turned negative in the 1Q21.</p>\n<p><b>Couchbase</b>(BASE) plans to raise $151 million at a $992 million market cap. Couchbase provides a NoSQL database that enables enterprises and developers to build and run applications across the cloud, on-premise, hybrid, or mobile and edge environments. The company has a sticky customer base that includes 30% of the Fortune 100, though it remains unprofitable due to high S&amp;M costs.</p>\n<p>Following its postponement in April,<b>Kaltura</b>(KLTR) plans to raise $150 million at a $1.4 billion market cap. Kaltura provides live, real-time, and on-demand video products to a wide range of businesses including educational institutions, and media and telecom companies. Thanks to the growing adoption of virtual events, the company saw revenue expand in the 1Q21, though gross margin contracted.</p>\n<p><b>Gambling.com Group</b>(GAMB) plans to raise $90 million at a $435 million market cap. Gambling.com Group is a performance marketing company and a digital marketing services provider active exclusively in the online gambling industry, with a principal focus on iGaming and sports betting. Profitable and fast growing, the company has increased its customer base from 131 in 2017 to over 200 in 2020.</p>\n<p>Three biotechs are expected to round out the week: cancer biotech&nbsp;<b>Candel Therapeutics</b>(CADL), which plans to raise $85 million at a $398 million market cap; preclinical biotech&nbsp;<b>Ocean Biomedical</b>(OCEA), which plans to raise $50 million at a $506 million market cap; and cancer biotech&nbsp;<b>Elicio Therapeutics</b>(ELTX), which plans to raise $40 million at a $201 million market cap.</p>","source":"lsy1619493174116","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US IPO Week Ahead: Software, soft drinks, specialty insurance, and more debut in a 17 IPO week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS IPO Week Ahead: Software, soft drinks, specialty insurance, and more debut in a 17 IPO week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-18 08:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.renaissancecapital.com/IPO-Center/News/84265/US-IPO-Week-Ahead-Software-soft-drinks-specialty-insurance-and-more-debut-i><strong>renaissancecap...</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The IPO market’s breakneck pace is expected to continue in the week ahead, with a whopping 17 IPOs slated to raise $4.7 billion.\nThe largest deal of the week, specialty insurance brokerage Ryan ...</p>\n\n<a href=\"https://www.renaissancecapital.com/IPO-Center/News/84265/US-IPO-Week-Ahead-Software-soft-drinks-specialty-insurance-and-more-debut-i\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OCEA":"Ocean Biomedical","OB":"Outbrain Inc.","INST":"Instructure Holdings, Inc.","ABSI":"Absci Corporation.","ELTX":"Elicio Therapeutics","CNM":"Core & Main, Inc.","CADL":"Candel Therapeutics, Inc.","PYCR":"Paycor HCM, Inc.","ZVIA":"Zevia PBC","RYAN":"Ryan Specialty Group Holdings, Inc.","LAW":"CS Disco, Inc.","BASE":"Couchbase, Inc.","GAMB":"Gambling.com Group Limited","VTEX":"VTEX"},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/84265/US-IPO-Week-Ahead-Software-soft-drinks-specialty-insurance-and-more-debut-i","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183956332","content_text":"The IPO market’s breakneck pace is expected to continue in the week ahead, with a whopping 17 IPOs slated to raise $4.7 billion.\nThe largest deal of the week, specialty insurance brokerage Ryan Specialty Group(RYAN) plans to raise $1.3 billion at a $6.1 billion market cap. The company assists in the placement of hard-to-place risks for retail insurance brokers, and the sourcing, onboarding, underwriting, and servicing of those hard-to-place risks for insurance carriers. Profitable on an EBIT basis in the 1Q21, the company will be leveraged post-IPO.\nWater infrastructure company Core & Main(CNM) plans to raise $750 million at a $5.2 billion market cap in a 100% synthetic secondary offering. Profitable with solid growth, the company distributes water infrastructure products that connect 4,500 suppliers to over 60,000 municipal, non-residential, and residential customers.\nHR software provider Paycor HCM(PYCR) plans to raise $361 million at a $3.4 billion market cap. Paycor provides human capital management software to small and mid-sized businesses, covering the payroll process and key HR functionality. While net revenue retention fell in the FY20, the company is targeting a large addressable market and has a track record of profitability.\nLatin American e-commerce platform VTEX(VTEX) plans to raise $304 million at a $3.2 billion market cap. VTEX operates a business-to-consumer e-commerce platform to enterprise customers that natively combines commerce, order management, and marketplace functionality. The company has demonstrated growth, though investments in SG&A and R&D have weighed on profits.\nLearning management platform Instructure Holdings(INST) plans to raise $250 million at a $2.9 billion market cap. The company provides a next-generation Learning Management System (LMS), assessments for learning, actionable analytics, and dynamic content. Instructure states that it is the LMS market leader in both Higher Education and paid K-12, with over 6,000 global customers across 90 countries.\nProtein discovery and development platform AbSci(ABSI) plans to raise $200 million at a $1.6 billion market cap. AbSci currently has nine active programs across seven partners, which include Merck and Astellas, for which it has either negotiated or plans to negotiate license agreements. The company is highly unprofitable, and 90% of its tech development revenue came from a single partner in the 1Q21.\nOrganic beverage brand Zevia PBC(ZVIA) plans to raise $200 million at a $1.0 billion market cap. Zevia provides six product lines of zero calorie, zero sugar, naturally sweetened beverages in the US and Canada. The company has demonstrated growth and achieved profitability in the 1Q21.\nContent marketing platform Outbrain(OB) plans to raise $200 million at a $1.5 billion market cap. Outbrain’s platform enables over 7,000 online properties, helping them engage their users and monetize their visits by gathering over 1 billion data events each minute. Profitable with strong growth, the company had over 20,000 advertisers using its platform in 2020.\nFitness franchisor Xponential Fitness(XPOF) plans to raise $200 million at a $711 million market cap. Xponential Fitness is the largest boutique fitness franchisor in the US with over 1,750 studios operating across nine distinct brands. While the company’s business was impacted by the pandemic in 2020, preliminary results for the 2Q21 show 60%+ revenue growth and adjusted EBITDA swinging positive.\nLegal software provider CS Disco(LAW) plans to raise $193 million at a $1.6 billion market cap. Fast growing and unprofitable, DISCO provides a cloud-native, AI-powered legal solution that simplifies ediscovery, legal document review, and case management for enterprises, law firms, legal services providers, and governments.\nFollowing its postponement in May, Brazil’s Zenvia(ZENV) plans to raise $162 million at a $548 million market cap. The company’s software platform facilitated the flow of communication for more than 10,190 customers throughout Latin America as of March 31, 2021. While it achieved a net revenue expansion rate of nearly 110%, Zenvia’s EBITDA turned negative in the 1Q21.\nCouchbase(BASE) plans to raise $151 million at a $992 million market cap. Couchbase provides a NoSQL database that enables enterprises and developers to build and run applications across the cloud, on-premise, hybrid, or mobile and edge environments. The company has a sticky customer base that includes 30% of the Fortune 100, though it remains unprofitable due to high S&M costs.\nFollowing its postponement in April,Kaltura(KLTR) plans to raise $150 million at a $1.4 billion market cap. Kaltura provides live, real-time, and on-demand video products to a wide range of businesses including educational institutions, and media and telecom companies. Thanks to the growing adoption of virtual events, the company saw revenue expand in the 1Q21, though gross margin contracted.\nGambling.com Group(GAMB) plans to raise $90 million at a $435 million market cap. Gambling.com Group is a performance marketing company and a digital marketing services provider active exclusively in the online gambling industry, with a principal focus on iGaming and sports betting. Profitable and fast growing, the company has increased its customer base from 131 in 2017 to over 200 in 2020.\nThree biotechs are expected to round out the week: cancer biotech Candel Therapeutics(CADL), which plans to raise $85 million at a $398 million market cap; preclinical biotech Ocean Biomedical(OCEA), which plans to raise $50 million at a $506 million market cap; and cancer biotech Elicio Therapeutics(ELTX), which plans to raise $40 million at a $201 million market cap.","news_type":1},"isVote":1,"tweetType":1,"viewCount":218,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145052069,"gmtCreate":1626184266651,"gmtModify":1703755028315,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/145052069","repostId":"1142482969","repostType":4,"isVote":1,"tweetType":1,"viewCount":235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":146586080,"gmtCreate":1626091101240,"gmtModify":1703753123726,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/146586080","repostId":"1161734090","repostType":4,"repost":{"id":"1161734090","kind":"news","pubTimestamp":1626090025,"share":"https://ttm.financial/m/news/1161734090?lang=&edition=fundamental","pubTime":"2021-07-12 19:40","market":"us","language":"en","title":"DouYu officially terminates merger agreement with Huya","url":"https://stock-news.laohu8.com/highlight/detail?id=1161734090","media":"seekingalpha","summary":"To abide by the SAMR decision, DouYu International Holdings Limited(NASDAQ:DOYU) -1.28% premarket, a","content":"<ul>\n <li>To abide by the SAMR decision,&nbsp;DouYu International Holdings Limited(NASDAQ:DOYU)&nbsp;-1.28%&nbsp;premarket, announced that Huya, Tiger Company Ltd., a wholly owned subsidiaryof Huya(NYSE:HUYA)-1.4%&nbsp;premarket, DouYu, and Nectarine Investment Limited, a wholly owned subsidiary of Tencent Holdings(OTCPK:TCEHY)has officially&nbsp;terminated&nbsp;merger agreement,dated October 12, 2020.</li>\n <li>Last week, the State Administration for Market Regulation of the People's Republic of China (SAMR), has&nbsp;blocked&nbsp;the planned deal to restrict the competition in the video game-streaming market in China.</li>\n <li>The board of directors of DouYu also cancels cash dividend of $60M which was to be paid on or around at the closing of the Merger.</li>\n</ul>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>DouYu officially terminates merger agreement with Huya</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\">\nDouYu officially terminates merger agreement with Huya\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-12 19:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3714199-douyu-officially-terminates-merger-agreement-with-huya><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>To abide by the SAMR decision, DouYu International Holdings Limited(NASDAQ:DOYU) -1.28% premarket, announced that Huya, Tiger Company Ltd., a wholly owned subsidiaryof Huya(NYSE:HUYA)-1.4% premarket, ...</p>\n\n<a href=\"https://seekingalpha.com/news/3714199-douyu-officially-terminates-merger-agreement-with-huya\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HUYA":"虎牙","DOYU":"斗鱼"},"source_url":"https://seekingalpha.com/news/3714199-douyu-officially-terminates-merger-agreement-with-huya","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1161734090","content_text":"To abide by the SAMR decision, DouYu International Holdings Limited(NASDAQ:DOYU) -1.28% premarket, announced that Huya, Tiger Company Ltd., a wholly owned subsidiaryof Huya(NYSE:HUYA)-1.4% premarket, DouYu, and Nectarine Investment Limited, a wholly owned subsidiary of Tencent Holdings(OTCPK:TCEHY)has officially terminated merger agreement,dated October 12, 2020.\nLast week, the State Administration for Market Regulation of the People's Republic of China (SAMR), has blocked the planned deal to restrict the competition in the video game-streaming market in China.\nThe board of directors of DouYu also cancels cash dividend of $60M which was to be paid on or around at the closing of the Merger.","news_type":1},"isVote":1,"tweetType":1,"viewCount":125,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141956352,"gmtCreate":1625835507976,"gmtModify":1703749497689,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Fortune favour the Brave. Buy when bad news surround the company.. when the sun start to shine. Tigr will move up","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Fortune favour the Brave. Buy when bad news surround the company.. when the sun start to shine. Tigr will move up","text":"$Tiger Brokers(TIGR)$Fortune favour the Brave. Buy when bad news surround the company.. when the sun start to shine. Tigr will move up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/141956352","isVote":1,"tweetType":1,"viewCount":284,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":140990310,"gmtCreate":1625622101430,"gmtModify":1703745077561,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/140990310","repostId":"1171645479","repostType":4,"repost":{"id":"1171645479","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1625619855,"share":"https://ttm.financial/m/news/1171645479?lang=&edition=fundamental","pubTime":"2021-07-07 09:04","market":"hk","language":"en","title":"Chinese EV Maker Xpeng surged 1.8% on its first day of trading in Hong Kong","url":"https://stock-news.laohu8.com/highlight/detail?id=1171645479","media":"Tiger Newspress","summary":"HONG KONG/BEIJING, July 7 - Chinese EV Maker Xpeng surged 1.8% on its Hong Kong debut on Wednesday a","content":"<p>HONG KONG/BEIJING, July 7 - Chinese EV Maker Xpeng surged 1.8% on its Hong Kong debut on Wednesday after an initial public offering.<img src=\"https://static.tigerbbs.com/ef62788dd730141bb2fa3660afd35c73\" tg-width=\"682\" tg-height=\"528\" referrerpolicy=\"no-referrer\">Xpeng issued 85 million Class A ordinary shares at a price of 165 Hong Kong dollars each. Those shares opened at 168 Hong Kong dollars, a 1.8% rise.</p>\n<p>The Guangzhou-based company sold 85 million shares which equates to 5% of its stock, according to its prospectus. There is an over-allotment option to sell a further 12.75 million shares that would raise an extra $270 million.</p>\n<p>Led by Chief Executive He Xiaopeng, Xpeng will use the funds to develop more advanced smart car technologies, such as autonomous driving functions, with its in-house team of engineers, and will expand its product portfolio. It already has plans for two new car plants in <a href=\"https://laohu8.com/S/CAAS\">China</a>.</p>\n<p>It sells mainly in <a href=\"https://laohu8.com/S/CAAS\">China</a>, the world's biggest car market, where it competes with Tesla Inc(TSLA.O)and Nio Inc(NIO.N).</p>\n<p>The electric carmaker is already listed in the U.S. Usually, Chinese companies listed on Wall Street will do what's known as a secondary listing, usually in Hong Kong. This is where a company, listed on one exchange, goes on to sell shares on another.</p>\n<p>Xpeng chose a dual primary listing rather than a secondary listing as it has been listed in <a href=\"https://laohu8.com/S/NYRT\">New York</a> for less than two years. Under Hong Kong rules, a secondary listing requires at least two financial years of good regulatory compliance on another qualifying exchange.</p>\n<p>The dual primary listing allows qualified Chinese investors to take part through the Stock Connect regime linking mainland Chinese and Hong Kong markets, according to the exchange's rules.</p>\n<p>After the rally in 2020, electric car-makers have seen their shares decline this year amid increasing competition from legacy automakers, the global semiconductor shortage and general wariness among investors about holding ontoriskier assets.</p>\n<p>The Hong Kong share sale will add to Xpeng’s war chest as it competes with an array of upstarts in China, the world’s largest market for electric vehicles. It has already raised billions of dollars through its share sales as well asbank loans.</p>\n<p>Xpeng has yet to turn a profit,pledgingto break even by late 2023 or early 2024. Revenue has been increasing, however, reaching 2.95 billion yuan ($456 million) in the first quarter, withdeliveriesin May growing 483% compared to the same month a year earlier.</p>\n<p>With the proceeds from the Hong Kong offering, the company aims to expand its product portfolio and develop more advanced technology, develop new models and improve hardware technology, among other targets. The firm is also planning to expand its presence in international markets starting with some European ones.</p>\n<p>JPMorgan Chase &amp; Co. and Bank of America Corp. are joint sponsors for the Hong Kong offering.</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>Chinese EV Maker Xpeng surged 1.8% on its first day of trading in Hong Kong</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\">\nChinese EV Maker Xpeng surged 1.8% on its first day of trading in Hong Kong\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-07 09:04</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>HONG KONG/BEIJING, July 7 - Chinese EV Maker Xpeng surged 1.8% on its Hong Kong debut on Wednesday after an initial public offering.<img src=\"https://static.tigerbbs.com/ef62788dd730141bb2fa3660afd35c73\" tg-width=\"682\" tg-height=\"528\" referrerpolicy=\"no-referrer\">Xpeng issued 85 million Class A ordinary shares at a price of 165 Hong Kong dollars each. Those shares opened at 168 Hong Kong dollars, a 1.8% rise.</p>\n<p>The Guangzhou-based company sold 85 million shares which equates to 5% of its stock, according to its prospectus. There is an over-allotment option to sell a further 12.75 million shares that would raise an extra $270 million.</p>\n<p>Led by Chief Executive He Xiaopeng, Xpeng will use the funds to develop more advanced smart car technologies, such as autonomous driving functions, with its in-house team of engineers, and will expand its product portfolio. It already has plans for two new car plants in <a href=\"https://laohu8.com/S/CAAS\">China</a>.</p>\n<p>It sells mainly in <a href=\"https://laohu8.com/S/CAAS\">China</a>, the world's biggest car market, where it competes with Tesla Inc(TSLA.O)and Nio Inc(NIO.N).</p>\n<p>The electric carmaker is already listed in the U.S. Usually, Chinese companies listed on Wall Street will do what's known as a secondary listing, usually in Hong Kong. This is where a company, listed on one exchange, goes on to sell shares on another.</p>\n<p>Xpeng chose a dual primary listing rather than a secondary listing as it has been listed in <a href=\"https://laohu8.com/S/NYRT\">New York</a> for less than two years. Under Hong Kong rules, a secondary listing requires at least two financial years of good regulatory compliance on another qualifying exchange.</p>\n<p>The dual primary listing allows qualified Chinese investors to take part through the Stock Connect regime linking mainland Chinese and Hong Kong markets, according to the exchange's rules.</p>\n<p>After the rally in 2020, electric car-makers have seen their shares decline this year amid increasing competition from legacy automakers, the global semiconductor shortage and general wariness among investors about holding ontoriskier assets.</p>\n<p>The Hong Kong share sale will add to Xpeng’s war chest as it competes with an array of upstarts in China, the world’s largest market for electric vehicles. It has already raised billions of dollars through its share sales as well asbank loans.</p>\n<p>Xpeng has yet to turn a profit,pledgingto break even by late 2023 or early 2024. Revenue has been increasing, however, reaching 2.95 billion yuan ($456 million) in the first quarter, withdeliveriesin May growing 483% compared to the same month a year earlier.</p>\n<p>With the proceeds from the Hong Kong offering, the company aims to expand its product portfolio and develop more advanced technology, develop new models and improve hardware technology, among other targets. The firm is also planning to expand its presence in international markets starting with some European ones.</p>\n<p>JPMorgan Chase &amp; Co. and Bank of America Corp. are joint sponsors for the Hong Kong offering.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09868":"小鹏汽车-W","XPEV":"小鹏汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171645479","content_text":"HONG KONG/BEIJING, July 7 - Chinese EV Maker Xpeng surged 1.8% on its Hong Kong debut on Wednesday after an initial public offering.Xpeng issued 85 million Class A ordinary shares at a price of 165 Hong Kong dollars each. Those shares opened at 168 Hong Kong dollars, a 1.8% rise.\nThe Guangzhou-based company sold 85 million shares which equates to 5% of its stock, according to its prospectus. There is an over-allotment option to sell a further 12.75 million shares that would raise an extra $270 million.\nLed by Chief Executive He Xiaopeng, Xpeng will use the funds to develop more advanced smart car technologies, such as autonomous driving functions, with its in-house team of engineers, and will expand its product portfolio. It already has plans for two new car plants in China.\nIt sells mainly in China, the world's biggest car market, where it competes with Tesla Inc(TSLA.O)and Nio Inc(NIO.N).\nThe electric carmaker is already listed in the U.S. Usually, Chinese companies listed on Wall Street will do what's known as a secondary listing, usually in Hong Kong. This is where a company, listed on one exchange, goes on to sell shares on another.\nXpeng chose a dual primary listing rather than a secondary listing as it has been listed in New York for less than two years. Under Hong Kong rules, a secondary listing requires at least two financial years of good regulatory compliance on another qualifying exchange.\nThe dual primary listing allows qualified Chinese investors to take part through the Stock Connect regime linking mainland Chinese and Hong Kong markets, according to the exchange's rules.\nAfter the rally in 2020, electric car-makers have seen their shares decline this year amid increasing competition from legacy automakers, the global semiconductor shortage and general wariness among investors about holding ontoriskier assets.\nThe Hong Kong share sale will add to Xpeng’s war chest as it competes with an array of upstarts in China, the world’s largest market for electric vehicles. It has already raised billions of dollars through its share sales as well asbank loans.\nXpeng has yet to turn a profit,pledgingto break even by late 2023 or early 2024. Revenue has been increasing, however, reaching 2.95 billion yuan ($456 million) in the first quarter, withdeliveriesin May growing 483% compared to the same month a year earlier.\nWith the proceeds from the Hong Kong offering, the company aims to expand its product portfolio and develop more advanced technology, develop new models and improve hardware technology, among other targets. The firm is also planning to expand its presence in international markets starting with some European ones.\nJPMorgan Chase & Co. and Bank of America Corp. are joint sponsors for the Hong Kong offering.","news_type":1},"isVote":1,"tweetType":1,"viewCount":161,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157237096,"gmtCreate":1625582952215,"gmtModify":1703744406396,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Don’t miss the boat today","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Don’t miss the boat today","text":"$Tiger Brokers(TIGR)$Don’t miss the boat today","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/157237096","isVote":1,"tweetType":1,"viewCount":292,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157672045,"gmtCreate":1625581925487,"gmtModify":1703744361887,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Indian also copy China want to build hospital in 10 days. But fail miserably.. meeting to decide already 2 week","listText":"Indian also copy China want to build hospital in 10 days. But fail miserably.. meeting to decide already 2 week","text":"Indian also copy China want to build hospital in 10 days. But fail miserably.. meeting to decide already 2 week","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/157672045","repostId":"2148212578","repostType":2,"repost":{"id":"2148212578","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1625160299,"share":"https://ttm.financial/m/news/2148212578?lang=&edition=fundamental","pubTime":"2021-07-02 01:24","market":"us","language":"en","title":"India selects four global firms to boost IT products manufacturing","url":"https://stock-news.laohu8.com/highlight/detail?id=2148212578","media":"Reuters","summary":"MUMBAI, July 1 (Reuters) - India on Thursday named Dell Inc , Wistron Corp's    ICT, Flex Ltd    and","content":"<html><body><p>MUMBAI, July 1 (Reuters) - India on Thursday named Dell Inc</p><p> , Wistron Corp's    ICT, Flex Ltd    and Foxconn's    Rising Stars as its choice of global companies in a $1 billion incentive plan to produce and boost exports of laptops, tablets and personal computers.</p><p>   Ten Indian companies were also selected, including smartphone maker Lava and Dixon, which makes TVs for Xiaomi Corp</p><p>  in India, the government said in a statement.</p><p>   Under the plan, manufacturers get cash-backs of 1% to 4% of additional sales of locally made goods over four years, with 2019-2020 as the base year.  </p><p>   In the next four years these companies are expected to produce 1.61 trillion rupees ($21.59 billion) of IT hardware and create more than 36,000 jobs, the government said.</p><p>   The plan is also likely to help U.S. tech giant Apple Inc</p><p>  assemble some of its iPad tablets in India, Reuters previously reported.  </p><p>   Prime Minister Narendra Modi's policy push in the electronics sector has prompted Apple suppliers Foxconn and Wistron to expand in India, and driven Pegatron Corp    to set up base there.</p><p>   Modi's strategy, coupled with India's huge market, have also helped turned the country into the world's second-biggest mobile maker after China.</p><p>   New Delhi wants to replicate the success of smartphone manufacturing with other electronics in a bid to cut imports. </p><p>   ($1 = 74.5640 Indian rupees)</p><p> (Reporting by Sankalp Phartiyal and Rajendra Jadhav; Editing by Richard Chang)</p><p>((rajendra.jadhav@thomsonreuters.com; +91-22-68414378 ; Reuters Messaging: rajendra.jadhav.thomsonreuters.com@reuters.net))</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>India selects four global firms to boost IT products manufacturing</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\">\nIndia selects four global firms to boost IT products manufacturing\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-02 01:24</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>MUMBAI, July 1 (Reuters) - India on Thursday named Dell Inc</p><p> , Wistron Corp's    ICT, Flex Ltd    and Foxconn's    Rising Stars as its choice of global companies in a $1 billion incentive plan to produce and boost exports of laptops, tablets and personal computers.</p><p>   Ten Indian companies were also selected, including smartphone maker Lava and Dixon, which makes TVs for Xiaomi Corp</p><p>  in India, the government said in a statement.</p><p>   Under the plan, manufacturers get cash-backs of 1% to 4% of additional sales of locally made goods over four years, with 2019-2020 as the base year.  </p><p>   In the next four years these companies are expected to produce 1.61 trillion rupees ($21.59 billion) of IT hardware and create more than 36,000 jobs, the government said.</p><p>   The plan is also likely to help U.S. tech giant Apple Inc</p><p>  assemble some of its iPad tablets in India, Reuters previously reported.  </p><p>   Prime Minister Narendra Modi's policy push in the electronics sector has prompted Apple suppliers Foxconn and Wistron to expand in India, and driven Pegatron Corp    to set up base there.</p><p>   Modi's strategy, coupled with India's huge market, have also helped turned the country into the world's second-biggest mobile maker after China.</p><p>   New Delhi wants to replicate the success of smartphone manufacturing with other electronics in a bid to cut imports. </p><p>   ($1 = 74.5640 Indian rupees)</p><p> (Reporting by Sankalp Phartiyal and Rajendra Jadhav; Editing by Richard Chang)</p><p>((rajendra.jadhav@thomsonreuters.com; +91-22-68414378 ; Reuters Messaging: rajendra.jadhav.thomsonreuters.com@reuters.net))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DELL":"戴尔","09086":"华夏纳指-U","03086":"华夏纳指","AAPL":"苹果","01810":"小米集团-W","FLEX":"伟创力国际"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2148212578","content_text":"MUMBAI, July 1 (Reuters) - India on Thursday named Dell Inc , Wistron Corp's    ICT, Flex Ltd    and Foxconn's    Rising Stars as its choice of global companies in a $1 billion incentive plan to produce and boost exports of laptops, tablets and personal computers.   Ten Indian companies were also selected, including smartphone maker Lava and Dixon, which makes TVs for Xiaomi Corp  in India, the government said in a statement.   Under the plan, manufacturers get cash-backs of 1% to 4% of additional sales of locally made goods over four years, with 2019-2020 as the base year.     In the next four years these companies are expected to produce 1.61 trillion rupees ($21.59 billion) of IT hardware and create more than 36,000 jobs, the government said.   The plan is also likely to help U.S. tech giant Apple Inc  assemble some of its iPad tablets in India, Reuters previously reported.     Prime Minister Narendra Modi's policy push in the electronics sector has prompted Apple suppliers Foxconn and Wistron to expand in India, and driven Pegatron Corp    to set up base there.   Modi's strategy, coupled with India's huge market, have also helped turned the country into the world's second-biggest mobile maker after China.   New Delhi wants to replicate the success of smartphone manufacturing with other electronics in a bid to cut imports.    ($1 = 74.5640 Indian rupees) (Reporting by Sankalp Phartiyal and Rajendra Jadhav; Editing by Richard Chang)((rajendra.jadhav@thomsonreuters.com; +91-22-68414378 ; Reuters Messaging: rajendra.jadhav.thomsonreuters.com@reuters.net))","news_type":1},"isVote":1,"tweetType":1,"viewCount":339,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":896324362,"gmtCreate":1628557857656,"gmtModify":1703508033997,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/896324362","repostId":"1196813173","repostType":4,"repost":{"id":"1196813173","kind":"news","pubTimestamp":1628550902,"share":"https://ttm.financial/m/news/1196813173?lang=&edition=fundamental","pubTime":"2021-08-10 07:15","market":"us","language":"en","title":"Stocks making the biggest moves in the premarket: Casper Sleep, AMC Entertainment, 3D Systems and more","url":"https://stock-news.laohu8.com/highlight/detail?id=1196813173","media":"CNBC","summary":"Casper Sleep Inc. – The sleep products company reported record quarterly revenue that came in above ","content":"<div>\n<p>Casper Sleep Inc. – The sleep products company reported record quarterly revenue that came in above Street forecasts, though it still reported a quarterly loss. Casper Sleep said it saw strong growth ...</p>\n\n<a href=\"https://www.cnbc.com/2021/08/10/stocks-making-the-biggest-moves-in-the-premarket-casper-sleep-amc-entertainment-3d-systems-and-more.html?&qsearchterm=biggest%20moves\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks making the biggest moves in the premarket: Casper Sleep, AMC Entertainment, 3D Systems and more</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks making the biggest moves in the premarket: Casper Sleep, AMC Entertainment, 3D Systems and more\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-10 07:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/08/10/stocks-making-the-biggest-moves-in-the-premarket-casper-sleep-amc-entertainment-3d-systems-and-more.html?&qsearchterm=biggest%20moves><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Casper Sleep Inc. – The sleep products company reported record quarterly revenue that came in above Street forecasts, though it still reported a quarterly loss. Casper Sleep said it saw strong growth ...</p>\n\n<a href=\"https://www.cnbc.com/2021/08/10/stocks-making-the-biggest-moves-in-the-premarket-casper-sleep-amc-entertainment-3d-systems-and-more.html?&qsearchterm=biggest%20moves\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线","KSU":"堪萨斯南方铁路","CHGG":"Chegg Inc","IIVI":"COHERENT CORP 6.00% MANDATORY CON PFD SER A","ARMK":"Aramark","DDD":"3D系统","IHG":"洲际酒店","PLNT":"Planet Fitness Inc"},"source_url":"https://www.cnbc.com/2021/08/10/stocks-making-the-biggest-moves-in-the-premarket-casper-sleep-amc-entertainment-3d-systems-and-more.html?&qsearchterm=biggest%20moves","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1196813173","content_text":"Casper Sleep Inc. – The sleep products company reported record quarterly revenue that came in above Street forecasts, though it still reported a quarterly loss. Casper Sleep said it saw strong growth in both retail and direct-to-consumer sales channels, but noted that it is also dealing with higher input costs and supply chain difficulties. Shares initially rallied in the premarket, but subsequently tumbled 6.1%.\nAMC Entertainment – AMC reported a quarterly loss of 71 cents per share, 20 cents a share smaller than Wall Street had anticipated. Revenue came in above analysts’ forecasts. AMC was helped by the lifting of Covid restrictions and the return of moviegoers to theaters, along with the release of several hit movies. Its shares surged 7.8% in premarket action.\n3D – 3D Systems earned 12 cents per share for its latest quarter, beating the 5 cents a share consensus estimate. The 3D printing technology company’s revenue beat estimates as well. 3D said it had successfully come through the most challenging 12 months it had ever experienced amid the pandemic. 3D’s stock soared 14.1% in premarket action.\nKansas City Southern –Canadian Pacific Railway(CP) raised its cash-and-stock offer for Kansas City Southern to about $300 per share. Canadian Pacific had struck a deal to buy its rival rail operator for $275 per share, but Kansas City Southern subsequently agreed to a higher offer fromCanadian National Railway(CNI). Kansas City Southern surged 7.2% in the premarket, while Canadian Pacific lost 1.7% and Canadian National rose 1.9%.\nAramark – The foodservice company reported a quarterly profit of 3 cents per share, beating the penny a share consensus estimate. Revenue came in slightly below forecasts. Aramark said it benefited from rebounding sales volume as well as effective cost management. Aramark shares added 1.3% in the premarket.\nPlanet Fitness – Planet Fitness missed estimates by 2 cents a share, with quarterly earnings of 21 cents per share. Revenue topped estimates as gyms reopened and membership numbers increased for the fitness center operator. Shares fell 3.2% in the premarket.\nThe RealReal – The RealReal lost 50 cents per share for its latest quarter, 3 cents a share wider than analysts had anticipated. The operator of an online pre-owned luxury goods marketplace also saw revenue fall short of estimates. The company said gross merchandise volume was up 91% compared to a year ago, and up 84.5% from repeat buyers. The stock slid 6% in premarket trading.\nChegg – Chegg beat estimates by 6 cents a share, with quarterly earnings of 43 cents per share. The online education company’s revenue also topped forecasts. Chegg raised its full-year outlook, saying its international growth continues to be strong. Its shares added 2.9% in the premarket.\nInterContinental Hotels Group PLC – InterContinental Hotels reported an operating profit for the first six months of the year, rebounding from a year-ago loss as summer vacation bookings jumped. The operator of Holiday Inn and other hotel chains eliminated its dividend to cut costs, however, sending its shares down 1.6% in premarket trading.\nII-VI Inc – The maker of optoelectronic components beat estimates on the top and bottom lines for its latest quarter, earning 88 cents per share compared to a 76 cents a share consensus estimate. It also had its highest-ever backlog at the end of the quarter.","news_type":1},"isVote":1,"tweetType":1,"viewCount":645,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129402278,"gmtCreate":1624379531694,"gmtModify":1703835106093,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Tigr is here to stay. They are disrupting the traditional brokerages.. it is in the growth stage.. wait for tigr to mature..","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Tigr is here to stay. They are disrupting the traditional brokerages.. it is in the growth stage.. wait for tigr to mature..","text":"$Tiger Brokers(TIGR)$Tigr is here to stay. They are disrupting the traditional brokerages.. it is in the growth stage.. wait for tigr to mature..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/129402278","isVote":1,"tweetType":1,"viewCount":129,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179776823,"gmtCreate":1626581357262,"gmtModify":1703762014740,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/179776823","repostId":"1183956332","repostType":4,"repost":{"id":"1183956332","kind":"news","pubTimestamp":1626568120,"share":"https://ttm.financial/m/news/1183956332?lang=&edition=fundamental","pubTime":"2021-07-18 08:28","market":"us","language":"en","title":"US IPO Week Ahead: Software, soft drinks, specialty insurance, and more debut in a 17 IPO week","url":"https://stock-news.laohu8.com/highlight/detail?id=1183956332","media":"renaissancecap...","summary":"The IPO market’s breakneck pace is expected to continue in the week ahead, with a whopping 17 IPOs slated to raise $4.7 billion.The largest deal of the week, specialty insurance brokerage Ryan Specialty Group plans to raise $1.3 billion at a $6.1 billion market cap. The company assists in the placement of hard-to-place risks for retail insurance brokers, and the sourcing, onboarding, underwriting, and servicing of those hard-to-place risks for insurance carriers. Profitable on an EBIT basis in t","content":"<p>The IPO market’s breakneck pace is expected to continue in the week ahead, with a whopping 17 IPOs slated to raise $4.7 billion.</p>\n<p>The largest deal of the week, specialty insurance brokerage&nbsp;<b>Ryan Specialty Group</b>(RYAN) plans to raise $1.3 billion at a $6.1 billion market cap. The company assists in the placement of hard-to-place risks for retail insurance brokers, and the sourcing, onboarding, underwriting, and servicing of those hard-to-place risks for insurance carriers. Profitable on an EBIT basis in the 1Q21, the company will be leveraged post-IPO.</p>\n<p>Water infrastructure company&nbsp;<b>Core &amp; Main</b>(CNM) plans to raise $750 million at a $5.2 billion market cap in a 100% synthetic secondary offering. Profitable with solid growth, the company distributes water infrastructure products that connect 4,500 suppliers to over 60,000 municipal, non-residential, and residential customers.</p>\n<p>HR software provider&nbsp;<b>Paycor HCM</b>(PYCR) plans to raise $361 million at a $3.4 billion market cap. Paycor provides human capital management software to small and mid-sized businesses, covering the payroll process and key HR functionality. While net revenue retention fell in the FY20, the company is targeting a large addressable market and has a track record of profitability.</p>\n<p>Latin <a href=\"https://laohu8.com/S/AFG\">American</a> e-commerce platform&nbsp;<b><a href=\"https://laohu8.com/S/VTEX\">VTEX</a></b>(VTEX) plans to raise $304 million at a $3.2 billion market cap. VTEX operates a business-to-consumer e-commerce platform to enterprise customers that natively combines commerce, order management, and marketplace functionality. The company has demonstrated growth, though investments in SG&amp;A and R&amp;D have weighed on profits.</p>\n<p>Learning management platform&nbsp;<b>Instructure Holdings</b>(INST) plans to raise $250 million at a $2.9 billion market cap. The company provides a next-generation Learning Management System (LMS), assessments for learning, actionable analytics, and dynamic content. Instructure states that it is the LMS market leader in both Higher Education and paid K-12, with over 6,000 global customers across 90 countries.</p>\n<p>Protein discovery and development platform&nbsp;<b>AbSci</b>(ABSI) plans to raise $200 million at a $1.6 billion market cap. AbSci currently has nine active programs across seven partners, which include <a href=\"https://laohu8.com/S/MRK\">Merck</a> and Astellas, for which it has either negotiated or plans to negotiate license agreements. The company is highly unprofitable, and 90% of its tech development revenue came from a single partner in the 1Q21.</p>\n<p>Organic beverage brand&nbsp;<b><a href=\"https://laohu8.com/S/ZVIA\">Zevia PBC</a></b>(ZVIA) plans to raise $200 million at a $1.0 billion market cap. Zevia provides six product lines of zero calorie, zero sugar, naturally sweetened beverages in the US and Canada. The company has demonstrated growth and achieved profitability in the 1Q21.</p>\n<p>Content marketing platform&nbsp;<b>Outbrain</b>(OB) plans to raise $200 million at a $1.5 billion market cap. Outbrain’s platform enables over 7,000 online properties, helping them engage their users and monetize their visits by gathering over 1 billion data events each minute. Profitable with strong growth, the company had over 20,000 advertisers using its platform in 2020.</p>\n<p>Fitness franchisor&nbsp;<b>Xponential Fitness</b>(XPOF) plans to raise $200 million at a $711 million market cap. Xponential Fitness is the largest boutique fitness franchisor in the US with over 1,750 studios operating across nine distinct brands. While the company’s business was impacted by the pandemic in 2020, preliminary results for the 2Q21 show 60%+ revenue growth and adjusted EBITDA swinging positive.</p>\n<p>Legal software provider&nbsp;<b>CS Disco</b>(LAW) plans to raise $193 million at a $1.6 billion market cap. Fast growing and unprofitable, DISCO provides a cloud-native, AI-powered legal solution that simplifies ediscovery, legal document review, and case management for enterprises, law firms, legal services providers, and governments.</p>\n<p>Following its postponement in May, Brazil’s&nbsp;<b>Zenvia</b>(ZENV) plans to raise $162 million at a $548 million market cap. The company’s software platform facilitated the flow of communication for more than 10,190 customers throughout Latin America as of March 31, 2021. While it achieved a net revenue expansion rate of nearly 110%, Zenvia’s EBITDA turned negative in the 1Q21.</p>\n<p><b>Couchbase</b>(BASE) plans to raise $151 million at a $992 million market cap. Couchbase provides a NoSQL database that enables enterprises and developers to build and run applications across the cloud, on-premise, hybrid, or mobile and edge environments. The company has a sticky customer base that includes 30% of the Fortune 100, though it remains unprofitable due to high S&amp;M costs.</p>\n<p>Following its postponement in April,<b>Kaltura</b>(KLTR) plans to raise $150 million at a $1.4 billion market cap. Kaltura provides live, real-time, and on-demand video products to a wide range of businesses including educational institutions, and media and telecom companies. Thanks to the growing adoption of virtual events, the company saw revenue expand in the 1Q21, though gross margin contracted.</p>\n<p><b>Gambling.com Group</b>(GAMB) plans to raise $90 million at a $435 million market cap. Gambling.com Group is a performance marketing company and a digital marketing services provider active exclusively in the online gambling industry, with a principal focus on iGaming and sports betting. Profitable and fast growing, the company has increased its customer base from 131 in 2017 to over 200 in 2020.</p>\n<p>Three biotechs are expected to round out the week: cancer biotech&nbsp;<b>Candel Therapeutics</b>(CADL), which plans to raise $85 million at a $398 million market cap; preclinical biotech&nbsp;<b>Ocean Biomedical</b>(OCEA), which plans to raise $50 million at a $506 million market cap; and cancer biotech&nbsp;<b>Elicio Therapeutics</b>(ELTX), which plans to raise $40 million at a $201 million market cap.</p>","source":"lsy1619493174116","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US IPO Week Ahead: Software, soft drinks, specialty insurance, and more debut in a 17 IPO week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS IPO Week Ahead: Software, soft drinks, specialty insurance, and more debut in a 17 IPO week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-18 08:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.renaissancecapital.com/IPO-Center/News/84265/US-IPO-Week-Ahead-Software-soft-drinks-specialty-insurance-and-more-debut-i><strong>renaissancecap...</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The IPO market’s breakneck pace is expected to continue in the week ahead, with a whopping 17 IPOs slated to raise $4.7 billion.\nThe largest deal of the week, specialty insurance brokerage Ryan ...</p>\n\n<a href=\"https://www.renaissancecapital.com/IPO-Center/News/84265/US-IPO-Week-Ahead-Software-soft-drinks-specialty-insurance-and-more-debut-i\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OCEA":"Ocean Biomedical","OB":"Outbrain Inc.","INST":"Instructure Holdings, Inc.","ABSI":"Absci Corporation.","ELTX":"Elicio Therapeutics","CNM":"Core & Main, Inc.","CADL":"Candel Therapeutics, Inc.","PYCR":"Paycor HCM, Inc.","ZVIA":"Zevia PBC","RYAN":"Ryan Specialty Group Holdings, Inc.","LAW":"CS Disco, Inc.","BASE":"Couchbase, Inc.","GAMB":"Gambling.com Group Limited","VTEX":"VTEX"},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/84265/US-IPO-Week-Ahead-Software-soft-drinks-specialty-insurance-and-more-debut-i","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183956332","content_text":"The IPO market’s breakneck pace is expected to continue in the week ahead, with a whopping 17 IPOs slated to raise $4.7 billion.\nThe largest deal of the week, specialty insurance brokerage Ryan Specialty Group(RYAN) plans to raise $1.3 billion at a $6.1 billion market cap. The company assists in the placement of hard-to-place risks for retail insurance brokers, and the sourcing, onboarding, underwriting, and servicing of those hard-to-place risks for insurance carriers. Profitable on an EBIT basis in the 1Q21, the company will be leveraged post-IPO.\nWater infrastructure company Core & Main(CNM) plans to raise $750 million at a $5.2 billion market cap in a 100% synthetic secondary offering. Profitable with solid growth, the company distributes water infrastructure products that connect 4,500 suppliers to over 60,000 municipal, non-residential, and residential customers.\nHR software provider Paycor HCM(PYCR) plans to raise $361 million at a $3.4 billion market cap. Paycor provides human capital management software to small and mid-sized businesses, covering the payroll process and key HR functionality. While net revenue retention fell in the FY20, the company is targeting a large addressable market and has a track record of profitability.\nLatin American e-commerce platform VTEX(VTEX) plans to raise $304 million at a $3.2 billion market cap. VTEX operates a business-to-consumer e-commerce platform to enterprise customers that natively combines commerce, order management, and marketplace functionality. The company has demonstrated growth, though investments in SG&A and R&D have weighed on profits.\nLearning management platform Instructure Holdings(INST) plans to raise $250 million at a $2.9 billion market cap. The company provides a next-generation Learning Management System (LMS), assessments for learning, actionable analytics, and dynamic content. Instructure states that it is the LMS market leader in both Higher Education and paid K-12, with over 6,000 global customers across 90 countries.\nProtein discovery and development platform AbSci(ABSI) plans to raise $200 million at a $1.6 billion market cap. AbSci currently has nine active programs across seven partners, which include Merck and Astellas, for which it has either negotiated or plans to negotiate license agreements. The company is highly unprofitable, and 90% of its tech development revenue came from a single partner in the 1Q21.\nOrganic beverage brand Zevia PBC(ZVIA) plans to raise $200 million at a $1.0 billion market cap. Zevia provides six product lines of zero calorie, zero sugar, naturally sweetened beverages in the US and Canada. The company has demonstrated growth and achieved profitability in the 1Q21.\nContent marketing platform Outbrain(OB) plans to raise $200 million at a $1.5 billion market cap. Outbrain’s platform enables over 7,000 online properties, helping them engage their users and monetize their visits by gathering over 1 billion data events each minute. Profitable with strong growth, the company had over 20,000 advertisers using its platform in 2020.\nFitness franchisor Xponential Fitness(XPOF) plans to raise $200 million at a $711 million market cap. Xponential Fitness is the largest boutique fitness franchisor in the US with over 1,750 studios operating across nine distinct brands. While the company’s business was impacted by the pandemic in 2020, preliminary results for the 2Q21 show 60%+ revenue growth and adjusted EBITDA swinging positive.\nLegal software provider CS Disco(LAW) plans to raise $193 million at a $1.6 billion market cap. Fast growing and unprofitable, DISCO provides a cloud-native, AI-powered legal solution that simplifies ediscovery, legal document review, and case management for enterprises, law firms, legal services providers, and governments.\nFollowing its postponement in May, Brazil’s Zenvia(ZENV) plans to raise $162 million at a $548 million market cap. The company’s software platform facilitated the flow of communication for more than 10,190 customers throughout Latin America as of March 31, 2021. While it achieved a net revenue expansion rate of nearly 110%, Zenvia’s EBITDA turned negative in the 1Q21.\nCouchbase(BASE) plans to raise $151 million at a $992 million market cap. Couchbase provides a NoSQL database that enables enterprises and developers to build and run applications across the cloud, on-premise, hybrid, or mobile and edge environments. The company has a sticky customer base that includes 30% of the Fortune 100, though it remains unprofitable due to high S&M costs.\nFollowing its postponement in April,Kaltura(KLTR) plans to raise $150 million at a $1.4 billion market cap. Kaltura provides live, real-time, and on-demand video products to a wide range of businesses including educational institutions, and media and telecom companies. Thanks to the growing adoption of virtual events, the company saw revenue expand in the 1Q21, though gross margin contracted.\nGambling.com Group(GAMB) plans to raise $90 million at a $435 million market cap. Gambling.com Group is a performance marketing company and a digital marketing services provider active exclusively in the online gambling industry, with a principal focus on iGaming and sports betting. Profitable and fast growing, the company has increased its customer base from 131 in 2017 to over 200 in 2020.\nThree biotechs are expected to round out the week: cancer biotech Candel Therapeutics(CADL), which plans to raise $85 million at a $398 million market cap; preclinical biotech Ocean Biomedical(OCEA), which plans to raise $50 million at a $506 million market cap; and cancer biotech Elicio Therapeutics(ELTX), which plans to raise $40 million at a $201 million market cap.","news_type":1},"isVote":1,"tweetType":1,"viewCount":218,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185059662,"gmtCreate":1623628037556,"gmtModify":1704207111019,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/185059662","repostId":"1146430910","repostType":4,"repost":{"id":"1146430910","kind":"news","pubTimestamp":1623624483,"share":"https://ttm.financial/m/news/1146430910?lang=&edition=fundamental","pubTime":"2021-06-14 06:48","market":"us","language":"en","title":"Oracle, Adobe, Kroger, General Motors, and Other Stocks for Investors to Watch This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1146430910","media":"Barrons","summary":"It’s another quiet week on the earnings front. Oracle on Tuesday, Lennar on Wednesday, and Adobe and","content":"<p>It’s another quiet week on the earnings front. Oracle on Tuesday, Lennar on Wednesday, and Adobe and Kroger on&nbsp;Thursday make up&nbsp;the notable reports over the coming days.</p>\n<p>Several other companies will speak with investors this week.&nbsp;Activision Blizzard and General Motors host their annual shareholder meetings on Monday, followed by Humana’s investor day on Tuesday and events by&nbsp;DXC Technology and NRG Energy on Thursday.</p>\n<p>The main event on the economic calendar this week will be the&nbsp;Federal Reserve’s rate-setting committee’s June meeting on Tuesday and Wednesday. The committee’s monetary-policy decision and a post-meeting press conference with Chairman&nbsp;Jerome Powell will be the focus of attention on Wednesday afternoon. Talk of inflation and bond-purchase tapering will be on the agenda.</p>\n<p>Data out this week include the Bureau of Labor Statistics’ producer price index for May and the Census Bureau’s retail-sales data for May, both on Tuesday, followed by the Conference Board’s Leading Economic Index for May on Thursday. There will also be data on the U.S. housing market out on Tuesday and Wednesday.</p>\n<p><b>Monday 6/14</b></p>\n<p>Roche Holding&nbsp;presents data on its spinal muscular atrophy drug, Evrysdi, at the 2021 CureSMA annual meeting.</p>\n<p>Activision Blizzard and General Motors hold their annual shareholder meetings.</p>\n<p><b>Tuesday 6/15</b></p>\n<p>Oracle announces fiscal fourth-quarter and full-year 2021 results.</p>\n<p>Humana hosts its biennial investor day virtually.</p>\n<p><b>The National Association</b>&nbsp;of Home Builders releases its Housing Market Index for June. Economists forecast an 83 reading, matching the May figure. Home builders remain very bullish on the housing market but are concerned about the availability and cost of building materials.</p>\n<p><b>The Census Bureau</b>&nbsp;reports retail-sales data for May. Expectations are for a 0.5% month-over-month decline, following a flat April. Excluding autos, spending is seen rising 0.6%, compared with a 0.8% decrease previously.</p>\n<p><b>The Bureau of Labor</b>&nbsp;Statistics releases the producer price index for May. Consensus estimate is for a 0.4% monthly increase, with the core PPI, which excludes volatile food and energy prices, expected to rise 0.4% as well. This compares with gains of 0.6% and 0.7%, respectively, in April.</p>\n<p><b>Wednesday 6/16</b></p>\n<p><b>The FOMC announces</b>&nbsp;its monetary-policy decision. With the federal-funds rate all but certain to remain near zero, Wall Street is looking for clues as to when the Federal Reserve might scale back its bond purchases.</p>\n<p>Lennar reports quarterly results.</p>\n<p><b>The Census Bureau</b>&nbsp;reports new residential construction data for May. The economists forecast a seasonally adjusted annual rate of 1.63 million housing starts, slightly higher than April’s data. Housing starts are just below their post-financial-crisis peak of 1.73 million from March.</p>\n<p><b>Thursday 6/17</b></p>\n<p>Adobe and Kroger hold conference calls to discuss earnings.</p>\n<p>DXC Technology and NRG Energy hold their 2021 investor days.</p>\n<p><b>The Conference Board</b>&nbsp;releases its Leading Economic Index for May. The LEI is expected to rise 1.1% month over month to 114.5, after gaining 1.6% in April. The index has now surpassed its pre-Covid peak, set back in January of 2020. The Conference Board now projects 8% to 9% annualized gross-domestic-product growth for the second quarter, and 6.4% for the year.</p>\n<p><b>The Department of Labor</b>&nbsp;reports initial jobless claims for the week ending on June 15. Jobless claims this past week were 376,000, the lowest total since March of 2020.</p>\n<p><b>Friday 6/18</b></p>\n<p><b>The Bank of Japan</b>&nbsp;announces its monetary-policy decision. The central bank is widely expected to keep its key interest rate at negative 0.1%. The BOJ recently updated its GDP forecast to 4% growth for fiscal 2021 and 2.4% for fiscal 2022.</p>","source":"lsy1601382232898","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>Oracle, Adobe, Kroger, General Motors, and Other Stocks for Investors to Watch This Week</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\">\nOracle, Adobe, Kroger, General Motors, and Other Stocks for Investors to Watch This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-14 06:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/oracle-adobe-kroger-general-motors-and-other-stocks-for-investors-to-watch-this-week-51623610821?mod=hp_LEADSUPP_2><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It’s another quiet week on the earnings front. Oracle on Tuesday, Lennar on Wednesday, and Adobe and Kroger on Thursday make up the notable reports over the coming days.\nSeveral other companies will ...</p>\n\n<a href=\"https://www.barrons.com/articles/oracle-adobe-kroger-general-motors-and-other-stocks-for-investors-to-watch-this-week-51623610821?mod=hp_LEADSUPP_2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GM":"通用汽车",".SPX":"S&P 500 Index","KR":"克罗格","ADBE":"Adobe",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","ORCL":"甲骨文"},"source_url":"https://www.barrons.com/articles/oracle-adobe-kroger-general-motors-and-other-stocks-for-investors-to-watch-this-week-51623610821?mod=hp_LEADSUPP_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146430910","content_text":"It’s another quiet week on the earnings front. Oracle on Tuesday, Lennar on Wednesday, and Adobe and Kroger on Thursday make up the notable reports over the coming days.\nSeveral other companies will speak with investors this week. Activision Blizzard and General Motors host their annual shareholder meetings on Monday, followed by Humana’s investor day on Tuesday and events by DXC Technology and NRG Energy on Thursday.\nThe main event on the economic calendar this week will be the Federal Reserve’s rate-setting committee’s June meeting on Tuesday and Wednesday. The committee’s monetary-policy decision and a post-meeting press conference with Chairman Jerome Powell will be the focus of attention on Wednesday afternoon. Talk of inflation and bond-purchase tapering will be on the agenda.\nData out this week include the Bureau of Labor Statistics’ producer price index for May and the Census Bureau’s retail-sales data for May, both on Tuesday, followed by the Conference Board’s Leading Economic Index for May on Thursday. There will also be data on the U.S. housing market out on Tuesday and Wednesday.\nMonday 6/14\nRoche Holding presents data on its spinal muscular atrophy drug, Evrysdi, at the 2021 CureSMA annual meeting.\nActivision Blizzard and General Motors hold their annual shareholder meetings.\nTuesday 6/15\nOracle announces fiscal fourth-quarter and full-year 2021 results.\nHumana hosts its biennial investor day virtually.\nThe National Association of Home Builders releases its Housing Market Index for June. Economists forecast an 83 reading, matching the May figure. Home builders remain very bullish on the housing market but are concerned about the availability and cost of building materials.\nThe Census Bureau reports retail-sales data for May. Expectations are for a 0.5% month-over-month decline, following a flat April. Excluding autos, spending is seen rising 0.6%, compared with a 0.8% decrease previously.\nThe Bureau of Labor Statistics releases the producer price index for May. Consensus estimate is for a 0.4% monthly increase, with the core PPI, which excludes volatile food and energy prices, expected to rise 0.4% as well. This compares with gains of 0.6% and 0.7%, respectively, in April.\nWednesday 6/16\nThe FOMC announces its monetary-policy decision. With the federal-funds rate all but certain to remain near zero, Wall Street is looking for clues as to when the Federal Reserve might scale back its bond purchases.\nLennar reports quarterly results.\nThe Census Bureau reports new residential construction data for May. The economists forecast a seasonally adjusted annual rate of 1.63 million housing starts, slightly higher than April’s data. Housing starts are just below their post-financial-crisis peak of 1.73 million from March.\nThursday 6/17\nAdobe and Kroger hold conference calls to discuss earnings.\nDXC Technology and NRG Energy hold their 2021 investor days.\nThe Conference Board releases its Leading Economic Index for May. The LEI is expected to rise 1.1% month over month to 114.5, after gaining 1.6% in April. The index has now surpassed its pre-Covid peak, set back in January of 2020. The Conference Board now projects 8% to 9% annualized gross-domestic-product growth for the second quarter, and 6.4% for the year.\nThe Department of Labor reports initial jobless claims for the week ending on June 15. Jobless claims this past week were 376,000, the lowest total since March of 2020.\nFriday 6/18\nThe Bank of Japan announces its monetary-policy decision. The central bank is widely expected to keep its key interest rate at negative 0.1%. The BOJ recently updated its GDP forecast to 4% growth for fiscal 2021 and 2.4% for fiscal 2022.","news_type":1},"isVote":1,"tweetType":1,"viewCount":187,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":833963652,"gmtCreate":1629198109676,"gmtModify":1676529962768,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/833963652","repostId":"1115558959","repostType":4,"repost":{"id":"1115558959","kind":"news","pubTimestamp":1629192455,"share":"https://ttm.financial/m/news/1115558959?lang=&edition=fundamental","pubTime":"2021-08-17 17:27","market":"us","language":"en","title":"This Is What Hedge Funds Bought And Sold In Q2: Complete 13F Summary","url":"https://stock-news.laohu8.com/highlight/detail?id=1115558959","media":"zerohedge","summary":"For once, the \"smart money\" was not caught off guard by the resurgent covid pandemic, and as a barra","content":"<p>For once, the \"smart money\" was not caught off guard by the resurgent covid pandemic, and as a barrage of 13F filings published today showed, during the second quarter hedge funds loaded up on companies that would benefit from a new wave of the pandemic even before the delta variant began to rapidly spread throughout the U.S.</p>\n<p>As Bloomberg summarizes, Chase Coleman’s Tiger Global Management and&nbsp;Philippe Laffont’s Coatue Management both increased their stakes in food delivery service&nbsp;DoorDash in the second quarter. Coatue also added to its bet on vaccine maker&nbsp;Moderna, while&nbsp;Stephen Mandel’s Lone Pine Capital took a new stake in the biotech company worth more than $900 million. These purchases were a reversal from the first quarter, when many hedge funds cut positions in<i>Work From Home</i>companies like&nbsp;Peloton and&nbsp;Zoom as vaccinations began to ramp up in the U.S. That, in turn, fueled wagers on companies that had been hardest-hit by travel restrictions and remote work.</p>\n<p>Tiger and Coatue also increased their stakes in Zoom in the three months through June, their 13F filings revealed. The two funds, along with D1 Capital Partners, were among those that added to positions in Peloton, while Viking Global Investors made a new bet on the exercise equipment company.</p>\n<p>13F filings also showed that funds including Soros Fund Management and Temasek snapped up shares of fintech companies. Marqeta was a top new buy for Soros, while Temasek disclosed new positions in SoFi Technologies, Flywire and Payoneer Global. Marqeta and SoFi tumbled last week after reporting disappointing second-quarter results. Temasek also snapped up shares in two new BlackRock carbon transition ETFs (LCTU and LCTD), while Soros took a new position in electric-vehicle producer Proterra, as clean energy continues to be a prominent trend among investors.</p>\n<p>Coatue, Viking and&nbsp;Gabe Plotkin’s Melvin Capital Management also added new positions in Beijing-based JD.com Inc. in the quarter, a move that would prove to be rather unfortunate as shares of the giant online vendor have slumped 16% since June 30. Chinese shares have tumbled since June as Beijing banned for-profit tutoring companies and ordered more than two dozen tech firms to carry out internal inspections and address issues such as data security.</p>\n<p>Some, such as Soros were either lucky or good in cutting their exposure to Chinese ADRs in the second quarter, ahead of the furious selloff. Soros Fund Management exited many of its investments in Chinese ADRs including Baidu, Vipshop Holdings, Tencent Music Entertainment Group and IQiyi, positions it snapped up during the collapse of Archegos Capital Management in March and April, as noted previously.</p>\n<p>Other funds also dumped China-based companies with listings in the U.S. D1 Capital sold its 25-million-share stake in New Oriental Education &amp; Technology Group, while Soroban Capital Partners exited its 2.06-million-share stake in Alibaba. Soroban’s largest new positions favored tech, with the top three additions being Facebook, Twitter and Netflix.</p>\n<p>Some other notable 13F findings:</p>\n<ul>\n <li>Michael Burry, of “The Big Short” fame, owned puts on&nbsp;Cathie Wood’s ARK Innovation ETF and increased its Tesla puts (more here).</li>\n <li>Warren Buffett’s Berkshire Hathaway added to just three positions in the quarter and trimmed its holdings in several companies, including a full exit of controversial Alzheimer’s drug developer Biogen. As firstnoted earlier, Berkshire’s only new position in the quarter, 1.55 million shares of Organon was the result of a spinoff of the women’s health pharmaceutical company from Berkshire holding Merck. Its most significant addition was a 21% increase in its position in grocer Kroger. Besides Biogen, exits included Liberty Global’s Class A shares and Axalta Coating Systems, while Berkshire trimmed positions in Marsh &amp; McLennan, Abbvie, General Motors and Bristol-Myers Squibb.</li>\n <li>Seth Klarman’s long-standing investment in&nbsp;Rupert Murdoch’s media empire finally came to an end during the second quarter. Baupost Group sold its entire Fox Corp. stake, including 7.6 million Class A shares and 5.7 million Class B shares with a combined market value of $446 million at the end of March.</li>\n <li>Carl Icahn, who runs a concentrated portfolio with just 17 reportable investments, sold all of his 9.59 million shares of Tenneco in the quarter. He also has a new undisclosed position in an unnamed stock -- an unusual step that requires a separate filing with the Securities and Exchange Commission.</li>\n <li>Dan Loeb's Third Point added SentinelOne Class A to its investments and exited IAA in the second quarter. The fund also added to its holdings in Intel, boosting its stake to 14 million shares from 1 million, while decreasing its stake in Charter Communications Class A. Upstart Holdings was Third Point's biggest holding, representing 9.8% of disclosed assets</li>\n <li>Elliott Investment Management’s largest purchases of the quarter included a 3-million-share buy of Twitter. The increase in shares comes despite Elliott partner Jesse Cohn’s departure from Twitter’s board on June 9. He originally joined the board as part of a partnership Twitter entered with Elliott and Sliver Lake on March 9, 2020.</li>\n <li>Singapore state-owned investment fund Temasek Holdings’s largest new purchase in the quarter was a 4.84-million-share position in Airbnb. Airbnb reported strong second-quarter earnings last week that were offset by tepid guidance, according to analysts. Temasek also disclosed new positions in SoFi Technologies, Flywire and Payoneer Global.</li>\n</ul>\n<p><i>Here are some other moves made by prominent funds tracked by Bloomberg:</i></p>\n<p>APPALOOSA</p>\n<ul>\n <li>Top new buys: UBER, PHM, BODY, TCVA</li>\n <li>Top exits: CRM, ADBE, DIS, PYPL, IQ, DISCA, BIDU, SHOP</li>\n <li>Boosted stakes in: MOS, FCX</li>\n <li>Cut stakes in: PCG, MU, TMUS, AMZN, CHK, BABA, FB, GOOG, HCA, XLE</li>\n</ul>\n<p>BAUPOST GROUP</p>\n<ul>\n <li>Top new buys: SJR, RTPY, 1865300D</li>\n <li>Top exits: FOXA, FOX, PEAK, FNF, RTP, HIPO</li>\n <li>Boosted stakes in: FB, MU, QRVO, TBPH</li>\n <li>Cut stakes in: INTC, WLTW, EBAY, PSTH, SSNC, ADV, AJAX, NXST, DBRG, LBTYK</li>\n</ul>\n<p>BERKSHIRE HATHAWAY</p>\n<ul>\n <li>Top exits: AXTA, BIIB, LBTYA</li>\n <li>Boosted stakes in: KR, RH, AON</li>\n <li>Cut stakes in: GM, BMY, ABBV, LBTYK, CVX, MMC, USB</li>\n</ul>\n<p>CORVEX MANAGEMENT</p>\n<ul>\n <li>Top new buys: CRM, ZNGA, BOAC, ROVR, TWCT, LGV</li>\n <li>Top exits: FISV, EXPE, GLD, FE, GPN, RADI, ORGN, TALK, ELMS, NFLX</li>\n <li>Boosted stakes in: BLMN, AMZN, GOOGL, DIS, MSFT, CCEP, ATUS, EXC, DOMA, FB</li>\n <li>Cut stakes in: ATVI, TMUS, AJAX, CFAC</li>\n</ul>\n<p>D1 CAPITAL PARTNERS</p>\n<ul>\n <li>Top new buys: PCOR, FTCH, PODD, ALKT, CMG, DLO, DECK, STNE, CRWD, FTV</li>\n <li>Top exits: HLT, NFLX, EDU, BAX, NKE, PPD, LVS, FIS, BX, BMBL</li>\n <li>Boosted stakes in: AMZN, EXPE, CVNA, PTON, BBWI, JD, RH, BLL, BKNG, DIS</li>\n <li>Cut stakes in: MSFT, TMUS, FB, COUP, DHR, DDOG</li>\n</ul>\n<p>DUQUESNE FAMILY OFFICE</p>\n<ul>\n <li>Top new buys: NFLX, ABNB, MRNA, SMAR, GM, COUP, MAR, FTCH, CF, RBLX</li>\n <li>Top exits: C, GOLD, MELI, UBER, TSM, LIN, RUN, JPM, AA, ASHR</li>\n <li>Boosted stakes in: GOOGL, AMZN, CVNA, FB, KBR, MA, V, SBUX, EXPE, OPCH</li>\n <li>Cut stakes in: MSFT, SE, ON, BLDR, PLTR, FLEX, TMUS, SNOW, TECK, FCX</li>\n</ul>\n<p>ELLIOTT INVESTMENT MANAGEMENT</p>\n<ul>\n <li>Top new buys: DUK, DBX, HRB</li>\n <li>Top exits: DISCK, CYH, FB</li>\n <li>Boosted stakes in: TWTR, ETWO, PINS</li>\n <li>Cut stakes in: SNAP, HWM</li>\n</ul>\n<p>GLENVIEW CAPITAL MANAGEMENT</p>\n<ul>\n <li>Top new buys: CNC, AMZN, BABA, CCCS, UBER, AMGN, CHNG, OUST, BOWX, LSAQ</li>\n <li>Top exits: NUAN, LH, MSFT, CAR, LYFT, MAR, PPD, NBSE</li>\n <li>Boosted stakes in: GPN, CCEP, APTV, WBA, DD, CTVA, DVA, NSC, HOLX, ESI</li>\n <li>Cut stakes in: CI, TAK, HCA, MCK, DXC, FB, ANTM, BSX, BAX, FISV</li>\n</ul>\n<p>GREENLIGHT CAPITAL</p>\n<ul>\n <li>Top new buys: SPY, PLBY, GPK, NWS, SRNG, EXPE, DMYI, LIVN, UWMC, PANA</li>\n <li>Top exits: ADT, ALIT, TALK, SEAH</li>\n <li>Boosted stakes in: TECK, GPRO, ODP, CC, CPRI, JOBY, SATS, ASTS, FUBO, REZI</li>\n <li>Cut stakes in: DNMR, APG, KPLT, CNX, XOG, CNXC, JACK, SNX, NUVB, CEIX</li>\n</ul>\n<p>ICAHN</p>\n<ul>\n <li>Top exits: HLF, TEN</li>\n <li>Boosted stakes in: IEP, XRX</li>\n <li>Cut stakes in: OXY, DK, WBT</li>\n</ul>\n<p>JANA PARTNERS</p>\n<ul>\n <li>Top new buys: CSOD</li>\n <li>Boosted stakes in: CONE, VG, SPY, EHC</li>\n <li>Cut stakes in: LH, CAG, THS</li>\n</ul>\n<p>LANSDOWNE</p>\n<ul>\n <li>Top new buys: ILMN, WMG, NVT</li>\n <li>Top exits: ED, DAR, AES, REGI, CDE, PAAS, USO</li>\n <li>Boosted stakes in: ETN, FCX, CARR, AER, DAL, IEUR, BLBD, VMC, RBLX, UVXY</li>\n <li>Cut stakes in: AMAT, TSM, LRCX, MU, RYAAY, GE, ENIA, EGO, ADI, BKNG</li>\n</ul>\n<p>MAVERICK CAPITAL</p>\n<ul>\n <li>Top new buys: CNC, JLL, CANO, FTCH, GPN, BHG, CMAX, ADSK, SE, JWSM</li>\n <li>Top exits: FIS, PLD, ELAN, LVS, SPFR, MAC, DASH, TJX, ZBRA, HPQ</li>\n <li>Boosted stakes in: CVNA, ASO, SNOW, V, BABA, EXPE, TMUS, CCK, XP, ATRA</li>\n <li>Cut stakes in: SEER, AMAT, ALNY, LRCX, AON, AMZN, LPLA, SUM, TGTX, GOOG</li>\n</ul>\n<p>MELVIN CAPITAL MANAGEMENT</p>\n<ul>\n <li>Top new buys: JD, DASH, PYPL, DPZ, MSFT, TGT, VMEO, SE, SHOP, DDOG</li>\n <li>Top exits: NFLX, NUAN, PINS, AAP, NKE, MU, SIG, TPX, TPR, WYNN</li>\n <li>Boosted stakes in: AMZN, ATVI, ALGN, LYV, LH, EXPE, SEAS, SNOW, PVH, TXRH</li>\n <li>Cut stakes in: MA, FB, BBWI, GOOGL, SBUX, UBER, FICO, NTES, HLT, NOW</li>\n</ul>\n<p>OMEGA ADVISORS</p>\n<ul>\n <li>Top new buys: LAD, BHC, VOO, PFSI, EFA, IVW, COG, SCHO, IEUR, EWJ</li>\n <li>Top exits: MGY, IFF, CMCSA</li>\n <li>Boosted stakes in: FOA, WSC, VRT, NRG, PXD, ABR, ASH, ASPU, BABA, FLMN</li>\n <li>Cut stakes in: FOE, NAVI, OCN, TRN, BBDC, FCRD, SRGA, FB, SNR</li>\n</ul>\n<p>PERSHING SQUARE</p>\n<ul>\n <li>Boosted stakes in: DPZ</li>\n <li>Cut stakes in: LOW, QSR, HLT, A</li>\n</ul>\n<p>SOROBAN CAPITAL</p>\n<ul>\n <li>Top new buys: FB, TWTR, NFLX, WAB, KAHC, LGV, BKI, PLNT, MSDA, TIOA</li>\n <li>Top exits: BABA, CMCSA, DPZ, RTX, GRA, GWRE, ALIT, SFTW, SPFR</li>\n <li>Boosted stakes in: LOW, CSX, ADI, UNP, FIS, VYGG, BTNB</li>\n <li>Cut stakes in: ATUS, SPGI, PAYO, KVSB, ME, SUNL, BGRY, GNAC, DOMA, NSH</li>\n</ul>\n<p>SOROS FUND MANAGEMENT</p>\n<ul>\n <li>Top new buys: FIGS, INFO, PTRA, MQ, PPD, VER, NUAN, MGLN, INDI, ACN</li>\n <li>Top exits: BIDU, DEN, VIPS, TME, IQ, DISCK, XLE, MU, ASHR, WAL</li>\n <li>Boosted stakes in: AMZN, MXIM, ELAN, GOOGL, CLVT, DIS, OPEN, W, CRM, SYF</li>\n <li>Cut stakes in: LQD, QS, VICI, UPST, TXN, LVS, ADI, NXPI, DHI, LPLA</li>\n</ul>\n<p>STARBOARD</p>\n<ul>\n <li>Top new buys: PZZA, WPCB, LEGA, KAHC, SLAM, FRXB, ATMR, ROSS, MACC, ACAH</li>\n <li>Boosted stakes in: CERN, BOX, IWM, IWR, TWCT, KVSC, DGNU, PRPB, LNFA, ON</li>\n <li>Cut stakes in: CTVA, IWN, ACM, MAAC, SCOR, NLOK, MMSI, ELAN, CVLT</li>\n</ul>\n<p>TEMASEK HOLDINGS</p>\n<ul>\n <li>Top new buys: ABNB, INTA, FLYW, PAYO, KRE, STEM, LCTU, INTC, SOFI, COPX</li>\n <li>Top exits: XLF, ADBE, INDA, EWZ, ACIU, PCVX</li>\n <li>Boosted stakes in: BILL, BEAM, TMO, DELL, EWY, IBN, IAU, CRM, SNOW, AFRM</li>\n <li>Cut stakes in: WISH, IWM, BABA, MSFT, XLB, CTVA, DASH, RBLX</li>\n</ul>\n<p>THIRD POINT</p>\n<ul>\n <li>Top new buys: S, SOFI, EDR, ZBH, PTON, RTPY, JWSM, ASZ, IACC, AUS</li>\n <li>Top exits: IAA, RACE, KMX, Z, SHOP, CVNA, ETRN, NYT, WISH, RKT</li>\n <li>Boosted stakes in: INTC, AMZN, DELL, CANO, EL, UBER, SU, RH, DD, AES</li>\n <li>Cut stakes in: CHTR, PCG, JD, IQV, DIS, RADI, APTV, BOAC, MTTR, TEL</li>\n</ul>\n<p>TIGER GLOBAL</p>\n<ul>\n <li>Top new buys: PCOR, PATH, COIN, DV, BHG, DLO, APP, S, GRUB, KPLT</li>\n <li>Top exits: ASO</li>\n <li>Boosted stakes in: DASH, DOCU, ZM, SHOP, SE, SNOW, CVNA, PTON, YSG, RNG</li>\n <li>Cut stakes in: CRM, TAL, JD, EDU, RBLX, GDS, UBER, DESP, BABA, RDFN</li>\n</ul>","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>This Is What Hedge Funds Bought And Sold In Q2: Complete 13F Summary</title>\n<style 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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\">\nThis Is What Hedge Funds Bought And Sold In Q2: Complete 13F Summary\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-17 17:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/what-hedge-funds-bought-and-sold-q2-complete-13f-summary><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>For once, the \"smart money\" was not caught off guard by the resurgent covid pandemic, and as a barrage of 13F filings published today showed, during the second quarter hedge funds loaded up on ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/what-hedge-funds-bought-and-sold-q2-complete-13f-summary\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/what-hedge-funds-bought-and-sold-q2-complete-13f-summary","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115558959","content_text":"For once, the \"smart money\" was not caught off guard by the resurgent covid pandemic, and as a barrage of 13F filings published today showed, during the second quarter hedge funds loaded up on companies that would benefit from a new wave of the pandemic even before the delta variant began to rapidly spread throughout the U.S.\nAs Bloomberg summarizes, Chase Coleman’s Tiger Global Management and Philippe Laffont’s Coatue Management both increased their stakes in food delivery service DoorDash in the second quarter. Coatue also added to its bet on vaccine maker Moderna, while Stephen Mandel’s Lone Pine Capital took a new stake in the biotech company worth more than $900 million. These purchases were a reversal from the first quarter, when many hedge funds cut positions inWork From Homecompanies like Peloton and Zoom as vaccinations began to ramp up in the U.S. That, in turn, fueled wagers on companies that had been hardest-hit by travel restrictions and remote work.\nTiger and Coatue also increased their stakes in Zoom in the three months through June, their 13F filings revealed. The two funds, along with D1 Capital Partners, were among those that added to positions in Peloton, while Viking Global Investors made a new bet on the exercise equipment company.\n13F filings also showed that funds including Soros Fund Management and Temasek snapped up shares of fintech companies. Marqeta was a top new buy for Soros, while Temasek disclosed new positions in SoFi Technologies, Flywire and Payoneer Global. Marqeta and SoFi tumbled last week after reporting disappointing second-quarter results. Temasek also snapped up shares in two new BlackRock carbon transition ETFs (LCTU and LCTD), while Soros took a new position in electric-vehicle producer Proterra, as clean energy continues to be a prominent trend among investors.\nCoatue, Viking and Gabe Plotkin’s Melvin Capital Management also added new positions in Beijing-based JD.com Inc. in the quarter, a move that would prove to be rather unfortunate as shares of the giant online vendor have slumped 16% since June 30. Chinese shares have tumbled since June as Beijing banned for-profit tutoring companies and ordered more than two dozen tech firms to carry out internal inspections and address issues such as data security.\nSome, such as Soros were either lucky or good in cutting their exposure to Chinese ADRs in the second quarter, ahead of the furious selloff. Soros Fund Management exited many of its investments in Chinese ADRs including Baidu, Vipshop Holdings, Tencent Music Entertainment Group and IQiyi, positions it snapped up during the collapse of Archegos Capital Management in March and April, as noted previously.\nOther funds also dumped China-based companies with listings in the U.S. D1 Capital sold its 25-million-share stake in New Oriental Education & Technology Group, while Soroban Capital Partners exited its 2.06-million-share stake in Alibaba. Soroban’s largest new positions favored tech, with the top three additions being Facebook, Twitter and Netflix.\nSome other notable 13F findings:\n\nMichael Burry, of “The Big Short” fame, owned puts on Cathie Wood’s ARK Innovation ETF and increased its Tesla puts (more here).\nWarren Buffett’s Berkshire Hathaway added to just three positions in the quarter and trimmed its holdings in several companies, including a full exit of controversial Alzheimer’s drug developer Biogen. As firstnoted earlier, Berkshire’s only new position in the quarter, 1.55 million shares of Organon was the result of a spinoff of the women’s health pharmaceutical company from Berkshire holding Merck. Its most significant addition was a 21% increase in its position in grocer Kroger. Besides Biogen, exits included Liberty Global’s Class A shares and Axalta Coating Systems, while Berkshire trimmed positions in Marsh & McLennan, Abbvie, General Motors and Bristol-Myers Squibb.\nSeth Klarman’s long-standing investment in Rupert Murdoch’s media empire finally came to an end during the second quarter. Baupost Group sold its entire Fox Corp. stake, including 7.6 million Class A shares and 5.7 million Class B shares with a combined market value of $446 million at the end of March.\nCarl Icahn, who runs a concentrated portfolio with just 17 reportable investments, sold all of his 9.59 million shares of Tenneco in the quarter. He also has a new undisclosed position in an unnamed stock -- an unusual step that requires a separate filing with the Securities and Exchange Commission.\nDan Loeb's Third Point added SentinelOne Class A to its investments and exited IAA in the second quarter. The fund also added to its holdings in Intel, boosting its stake to 14 million shares from 1 million, while decreasing its stake in Charter Communications Class A. Upstart Holdings was Third Point's biggest holding, representing 9.8% of disclosed assets\nElliott Investment Management’s largest purchases of the quarter included a 3-million-share buy of Twitter. The increase in shares comes despite Elliott partner Jesse Cohn’s departure from Twitter’s board on June 9. He originally joined the board as part of a partnership Twitter entered with Elliott and Sliver Lake on March 9, 2020.\nSingapore state-owned investment fund Temasek Holdings’s largest new purchase in the quarter was a 4.84-million-share position in Airbnb. Airbnb reported strong second-quarter earnings last week that were offset by tepid guidance, according to analysts. Temasek also disclosed new positions in SoFi Technologies, Flywire and Payoneer Global.\n\nHere are some other moves made by prominent funds tracked by Bloomberg:\nAPPALOOSA\n\nTop new buys: UBER, PHM, BODY, TCVA\nTop exits: CRM, ADBE, DIS, PYPL, IQ, DISCA, BIDU, SHOP\nBoosted stakes in: MOS, FCX\nCut stakes in: PCG, MU, TMUS, AMZN, CHK, BABA, FB, GOOG, HCA, XLE\n\nBAUPOST GROUP\n\nTop new buys: SJR, RTPY, 1865300D\nTop exits: FOXA, FOX, PEAK, FNF, RTP, HIPO\nBoosted stakes in: FB, MU, QRVO, TBPH\nCut stakes in: INTC, WLTW, EBAY, PSTH, SSNC, ADV, AJAX, NXST, DBRG, LBTYK\n\nBERKSHIRE HATHAWAY\n\nTop exits: AXTA, BIIB, LBTYA\nBoosted stakes in: KR, RH, AON\nCut stakes in: GM, BMY, ABBV, LBTYK, CVX, MMC, USB\n\nCORVEX MANAGEMENT\n\nTop new buys: CRM, ZNGA, BOAC, ROVR, TWCT, LGV\nTop exits: FISV, EXPE, GLD, FE, GPN, RADI, ORGN, TALK, ELMS, NFLX\nBoosted stakes in: BLMN, AMZN, GOOGL, DIS, MSFT, CCEP, ATUS, EXC, DOMA, FB\nCut stakes in: ATVI, TMUS, AJAX, CFAC\n\nD1 CAPITAL PARTNERS\n\nTop new buys: PCOR, FTCH, PODD, ALKT, CMG, DLO, DECK, STNE, CRWD, FTV\nTop exits: HLT, NFLX, EDU, BAX, NKE, PPD, LVS, FIS, BX, BMBL\nBoosted stakes in: AMZN, EXPE, CVNA, PTON, BBWI, JD, RH, BLL, BKNG, DIS\nCut stakes in: MSFT, TMUS, FB, COUP, DHR, DDOG\n\nDUQUESNE FAMILY OFFICE\n\nTop new buys: NFLX, ABNB, MRNA, SMAR, GM, COUP, MAR, FTCH, CF, RBLX\nTop exits: C, GOLD, MELI, UBER, TSM, LIN, RUN, JPM, AA, ASHR\nBoosted stakes in: GOOGL, AMZN, CVNA, FB, KBR, MA, V, SBUX, EXPE, OPCH\nCut stakes in: MSFT, SE, ON, BLDR, PLTR, FLEX, TMUS, SNOW, TECK, FCX\n\nELLIOTT INVESTMENT MANAGEMENT\n\nTop new buys: DUK, DBX, HRB\nTop exits: DISCK, CYH, FB\nBoosted stakes in: TWTR, ETWO, PINS\nCut stakes in: SNAP, HWM\n\nGLENVIEW CAPITAL MANAGEMENT\n\nTop new buys: CNC, AMZN, BABA, CCCS, UBER, AMGN, CHNG, OUST, BOWX, LSAQ\nTop exits: NUAN, LH, MSFT, CAR, LYFT, MAR, PPD, NBSE\nBoosted stakes in: GPN, CCEP, APTV, WBA, DD, CTVA, DVA, NSC, HOLX, ESI\nCut stakes in: CI, TAK, HCA, MCK, DXC, FB, ANTM, BSX, BAX, FISV\n\nGREENLIGHT CAPITAL\n\nTop new buys: SPY, PLBY, GPK, NWS, SRNG, EXPE, DMYI, LIVN, UWMC, PANA\nTop exits: ADT, ALIT, TALK, SEAH\nBoosted stakes in: TECK, GPRO, ODP, CC, CPRI, JOBY, SATS, ASTS, FUBO, REZI\nCut stakes in: DNMR, APG, KPLT, CNX, XOG, CNXC, JACK, SNX, NUVB, CEIX\n\nICAHN\n\nTop exits: HLF, TEN\nBoosted stakes in: IEP, XRX\nCut stakes in: OXY, DK, WBT\n\nJANA PARTNERS\n\nTop new buys: CSOD\nBoosted stakes in: CONE, VG, SPY, EHC\nCut stakes in: LH, CAG, THS\n\nLANSDOWNE\n\nTop new buys: ILMN, WMG, NVT\nTop exits: ED, DAR, AES, REGI, CDE, PAAS, USO\nBoosted stakes in: ETN, FCX, CARR, AER, DAL, IEUR, BLBD, VMC, RBLX, UVXY\nCut stakes in: AMAT, TSM, LRCX, MU, RYAAY, GE, ENIA, EGO, ADI, BKNG\n\nMAVERICK CAPITAL\n\nTop new buys: CNC, JLL, CANO, FTCH, GPN, BHG, CMAX, ADSK, SE, JWSM\nTop exits: FIS, PLD, ELAN, LVS, SPFR, MAC, DASH, TJX, ZBRA, HPQ\nBoosted stakes in: CVNA, ASO, SNOW, V, BABA, EXPE, TMUS, CCK, XP, ATRA\nCut stakes in: SEER, AMAT, ALNY, LRCX, AON, AMZN, LPLA, SUM, TGTX, GOOG\n\nMELVIN CAPITAL MANAGEMENT\n\nTop new buys: JD, DASH, PYPL, DPZ, MSFT, TGT, VMEO, SE, SHOP, DDOG\nTop exits: NFLX, NUAN, PINS, AAP, NKE, MU, SIG, TPX, TPR, WYNN\nBoosted stakes in: AMZN, ATVI, ALGN, LYV, LH, EXPE, SEAS, SNOW, PVH, TXRH\nCut stakes in: MA, FB, BBWI, GOOGL, SBUX, UBER, FICO, NTES, HLT, NOW\n\nOMEGA ADVISORS\n\nTop new buys: LAD, BHC, VOO, PFSI, EFA, IVW, COG, SCHO, IEUR, EWJ\nTop exits: MGY, IFF, CMCSA\nBoosted stakes in: FOA, WSC, VRT, NRG, PXD, ABR, ASH, ASPU, BABA, FLMN\nCut stakes in: FOE, NAVI, OCN, TRN, BBDC, FCRD, SRGA, FB, SNR\n\nPERSHING SQUARE\n\nBoosted stakes in: DPZ\nCut stakes in: LOW, QSR, HLT, A\n\nSOROBAN CAPITAL\n\nTop new buys: FB, TWTR, NFLX, WAB, KAHC, LGV, BKI, PLNT, MSDA, TIOA\nTop exits: BABA, CMCSA, DPZ, RTX, GRA, GWRE, ALIT, SFTW, SPFR\nBoosted stakes in: LOW, CSX, ADI, UNP, FIS, VYGG, BTNB\nCut stakes in: ATUS, SPGI, PAYO, KVSB, ME, SUNL, BGRY, GNAC, DOMA, NSH\n\nSOROS FUND MANAGEMENT\n\nTop new buys: FIGS, INFO, PTRA, MQ, PPD, VER, NUAN, MGLN, INDI, ACN\nTop exits: BIDU, DEN, VIPS, TME, IQ, DISCK, XLE, MU, ASHR, WAL\nBoosted stakes in: AMZN, MXIM, ELAN, GOOGL, CLVT, DIS, OPEN, W, CRM, SYF\nCut stakes in: LQD, QS, VICI, UPST, TXN, LVS, ADI, NXPI, DHI, LPLA\n\nSTARBOARD\n\nTop new buys: PZZA, WPCB, LEGA, KAHC, SLAM, FRXB, ATMR, ROSS, MACC, ACAH\nBoosted stakes in: CERN, BOX, IWM, IWR, TWCT, KVSC, DGNU, PRPB, LNFA, ON\nCut stakes in: CTVA, IWN, ACM, MAAC, SCOR, NLOK, MMSI, ELAN, CVLT\n\nTEMASEK HOLDINGS\n\nTop new buys: ABNB, INTA, FLYW, PAYO, KRE, STEM, LCTU, INTC, SOFI, COPX\nTop exits: XLF, ADBE, INDA, EWZ, ACIU, PCVX\nBoosted stakes in: BILL, BEAM, TMO, DELL, EWY, IBN, IAU, CRM, SNOW, AFRM\nCut stakes in: WISH, IWM, BABA, MSFT, XLB, CTVA, DASH, RBLX\n\nTHIRD POINT\n\nTop new buys: S, SOFI, EDR, ZBH, PTON, RTPY, JWSM, ASZ, IACC, AUS\nTop exits: IAA, RACE, KMX, Z, SHOP, CVNA, ETRN, NYT, WISH, RKT\nBoosted stakes in: INTC, AMZN, DELL, CANO, EL, UBER, SU, RH, DD, AES\nCut stakes in: CHTR, PCG, JD, IQV, DIS, RADI, APTV, BOAC, MTTR, TEL\n\nTIGER GLOBAL\n\nTop new buys: PCOR, PATH, COIN, DV, BHG, DLO, APP, S, GRUB, KPLT\nTop exits: ASO\nBoosted stakes in: DASH, DOCU, ZM, SHOP, SE, SNOW, CVNA, PTON, YSG, RNG\nCut stakes in: CRM, TAL, JD, EDU, RBLX, GDS, UBER, DESP, BABA, RDFN","news_type":1},"isVote":1,"tweetType":1,"viewCount":578,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145052069,"gmtCreate":1626184266651,"gmtModify":1703755028315,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/145052069","repostId":"1142482969","repostType":4,"repost":{"id":"1142482969","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626183653,"share":"https://ttm.financial/m/news/1142482969?lang=&edition=fundamental","pubTime":"2021-07-13 21:40","market":"us","language":"en","title":"SOHU shares surges 20% in early trading,as official approval for a Tencent Holdings Ltd. acquisition.","url":"https://stock-news.laohu8.com/highlight/detail?id=1142482969","media":"Tiger Newspress","summary":"SOHU shares surges 20% in early trading,as official approval for a Tencent Holdings Ltd. acquisition","content":"<p>SOHU&nbsp;shares&nbsp;surges&nbsp;20%&nbsp;in&nbsp;early&nbsp;trading,as&nbsp;official approval for a Tencent Holdings Ltd. acquisition.</p>\n<p><img src=\"https://static.tigerbbs.com/c4b85f8ad31933441326d9abac73484b\" tg-width=\"1270\" tg-height=\"600\" referrerpolicy=\"no-referrer\">Tencent’s purchase of search engine developer Sogou was approved by China’s anti-monopoly regulator, according to a statement on the website of the State Administration for Market Regulation.</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>SOHU shares surges 20% in early trading,as official approval for a Tencent Holdings Ltd. acquisition.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSOHU shares surges 20% in early trading,as official approval for a Tencent Holdings Ltd. acquisition.\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-13 21:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>SOHU&nbsp;shares&nbsp;surges&nbsp;20%&nbsp;in&nbsp;early&nbsp;trading,as&nbsp;official approval for a Tencent Holdings Ltd. acquisition.</p>\n<p><img src=\"https://static.tigerbbs.com/c4b85f8ad31933441326d9abac73484b\" tg-width=\"1270\" tg-height=\"600\" referrerpolicy=\"no-referrer\">Tencent’s purchase of search engine developer Sogou was approved by China’s anti-monopoly regulator, according to a statement on the website of the State Administration for Market Regulation.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"00700":"腾讯控股","SOGO":"搜狗","SOHU":"搜狐"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142482969","content_text":"SOHU shares surges 20% in early trading,as official approval for a Tencent Holdings Ltd. acquisition.\nTencent’s purchase of search engine developer Sogou was approved by China’s anti-monopoly regulator, according to a statement on the website of the State Administration for Market Regulation.","news_type":1},"isVote":1,"tweetType":1,"viewCount":235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":182194257,"gmtCreate":1623556952279,"gmtModify":1704206098838,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/182194257","repostId":"2142788118","repostType":4,"repost":{"id":"2142788118","kind":"highlight","pubTimestamp":1623508200,"share":"https://ttm.financial/m/news/2142788118?lang=&edition=fundamental","pubTime":"2021-06-12 22:30","market":"us","language":"en","title":"4 High-Yield Dividend Stocks to Watch","url":"https://stock-news.laohu8.com/highlight/detail?id=2142788118","media":"Motley Fool","summary":"You don't have to settle for tiny yields today.","content":"<p>As of early June, an investor can earn roughly a 1.4% annual dividend yield by simply owning a market index fund that tracks the <b>S&amp;P 500</b>. That's a historically low rate -- mainly thanks to the huge rally that investors have seen in the past year.</p>\n<p>But many individual stocks are much more generous with their payouts. Let's look at a few attractive dividend-paying stocks that deliver at least twice the market's average yield. Read on to see why <b>PepsiCo</b> (NASDAQ:PEP), <b>Hasbro</b> (NASDAQ:HAS), <b><a href=\"https://laohu8.com/S/IBM\">IBM</a></b> (NYSE:IBM), and <b>Pfizer</b> (NYSE:PFE) all deserve a spot on your income watchlist.</p>\n<p><img src=\"https://static.tigerbbs.com/5b2429a52ab8ff262dc3392bb58e5ba2\" tg-width=\"700\" tg-height=\"393\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>1. PepsiCo</h3>\n<p>Pepsi is just a year away from reaching Dividend King status, which will apply after it raises its dividend for a 50th consecutive year in 2022. But income investors don't have to wait until then to own this diversified consumer foods giant.</p>\n<p>Pepsi's deep portfolio of snacks helped it post solid growth in 2020 despite pandemic-related demand slumps in the soda industry. Wall Street is worried about a modest profitability drop ahead as the company invests more in growth niches like energy drinks. But Pepsi is playing the long game, and cash it spends upgrading its supply chain should pay off for shareholders over time.</p>\n<h3>2. IBM</h3>\n<p>IBM boasts some attractive dividend metrics. It yields over 4%, and the IT giant has also raised its dividend in each of the last 25 years.</p>\n<p>There are some notable risks to be aware of, though. IBM is executing a spin-off right now that might threaten its overall payout. Sales growth has been hard to find recently, too, with revenue falling 2% in early 2021 after accounting for currency exchange shifts.</p>\n<p>Still, income investors will enjoy IBM's gushing cash flow and its large, stable business. You might be happy to collect an above-average dividend while waiting for big bets in areas like cloud services to deliver faster sales growth in the years to come.</p>\n<h3>3. Pfizer</h3>\n<p>Despite its central role in ending the COVID-19 pandemic, Pfizer stock has trailed the broader market over the past year. That situation has helped push its yield above 4%, though, in a welcome development for dividend fans.</p>\n<p>The biotech giant recently raised its growth outlook after sales jumped 42% in the first quarter. Besides its COVID-19 vaccine, which will require several more treatments over the next few years, other promising drugs include blood clot-fighting Eliquis, which grew sales by over 30% in early 2021.</p>\n<p>Sure, Pfizer isn't likely to see a repeat approaching anything close to the $26 billion it is expecting to book for the COVID-19 vaccine this year. But this dividend stock still has a lot to offer investors who want exposure to the biotech world.</p>\n<h3>4. Hasbro</h3>\n<p>There's plenty of room to grow in the toy niche -- if you're a dominant global player, that is. Hasbro has been cashing in on its leading position for years, through its mix of company-owned brands like Monopoly and Nerf and exclusive partnerships with giants like <b>Disney</b>. Growth in these areas allowed sales to rise 1% last quarter despite a 34% COVID-19-related slump in its TV division.</p>\n<p>Wall Street has acknowledged this good news by sending the stock higher over the past year. But investors can still get an almost 3% yield by owning its shares.</p>\n<p>In mid-2021, prices are rising for many things, including stocks. But investors can still find attractive businesses to own that also happen to pay generous dividends. That combination of growth and income is a powerful <a href=\"https://laohu8.com/S/AONE\">one</a> to support your portfolio up to retirement and beyond.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 High-Yield Dividend Stocks to Watch</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\">\n4 High-Yield Dividend Stocks to Watch\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-12 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/12/4-high-yield-dividend-stocks-to-watch/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As of early June, an investor can earn roughly a 1.4% annual dividend yield by simply owning a market index fund that tracks the S&P 500. That's a historically low rate -- mainly thanks to the huge ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/12/4-high-yield-dividend-stocks-to-watch/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IBM":"IBM","09086":"华夏纳指-U","HAS":"孩之宝","03086":"华夏纳指","PEP":"百事可乐","PFE":"辉瑞"},"source_url":"https://www.fool.com/investing/2021/06/12/4-high-yield-dividend-stocks-to-watch/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142788118","content_text":"As of early June, an investor can earn roughly a 1.4% annual dividend yield by simply owning a market index fund that tracks the S&P 500. That's a historically low rate -- mainly thanks to the huge rally that investors have seen in the past year.\nBut many individual stocks are much more generous with their payouts. Let's look at a few attractive dividend-paying stocks that deliver at least twice the market's average yield. Read on to see why PepsiCo (NASDAQ:PEP), Hasbro (NASDAQ:HAS), IBM (NYSE:IBM), and Pfizer (NYSE:PFE) all deserve a spot on your income watchlist.\n\nImage source: Getty Images.\n1. PepsiCo\nPepsi is just a year away from reaching Dividend King status, which will apply after it raises its dividend for a 50th consecutive year in 2022. But income investors don't have to wait until then to own this diversified consumer foods giant.\nPepsi's deep portfolio of snacks helped it post solid growth in 2020 despite pandemic-related demand slumps in the soda industry. Wall Street is worried about a modest profitability drop ahead as the company invests more in growth niches like energy drinks. But Pepsi is playing the long game, and cash it spends upgrading its supply chain should pay off for shareholders over time.\n2. IBM\nIBM boasts some attractive dividend metrics. It yields over 4%, and the IT giant has also raised its dividend in each of the last 25 years.\nThere are some notable risks to be aware of, though. IBM is executing a spin-off right now that might threaten its overall payout. Sales growth has been hard to find recently, too, with revenue falling 2% in early 2021 after accounting for currency exchange shifts.\nStill, income investors will enjoy IBM's gushing cash flow and its large, stable business. You might be happy to collect an above-average dividend while waiting for big bets in areas like cloud services to deliver faster sales growth in the years to come.\n3. Pfizer\nDespite its central role in ending the COVID-19 pandemic, Pfizer stock has trailed the broader market over the past year. That situation has helped push its yield above 4%, though, in a welcome development for dividend fans.\nThe biotech giant recently raised its growth outlook after sales jumped 42% in the first quarter. Besides its COVID-19 vaccine, which will require several more treatments over the next few years, other promising drugs include blood clot-fighting Eliquis, which grew sales by over 30% in early 2021.\nSure, Pfizer isn't likely to see a repeat approaching anything close to the $26 billion it is expecting to book for the COVID-19 vaccine this year. But this dividend stock still has a lot to offer investors who want exposure to the biotech world.\n4. Hasbro\nThere's plenty of room to grow in the toy niche -- if you're a dominant global player, that is. Hasbro has been cashing in on its leading position for years, through its mix of company-owned brands like Monopoly and Nerf and exclusive partnerships with giants like Disney. Growth in these areas allowed sales to rise 1% last quarter despite a 34% COVID-19-related slump in its TV division.\nWall Street has acknowledged this good news by sending the stock higher over the past year. But investors can still get an almost 3% yield by owning its shares.\nIn mid-2021, prices are rising for many things, including stocks. But investors can still find attractive businesses to own that also happen to pay generous dividends. That combination of growth and income is a powerful one to support your portfolio up to retirement and beyond.","news_type":1},"isVote":1,"tweetType":1,"viewCount":151,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804944246,"gmtCreate":1627918352785,"gmtModify":1703497948658,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/804944246","repostId":"1172320411","repostType":4,"isVote":1,"tweetType":1,"viewCount":1101,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802746889,"gmtCreate":1627813748641,"gmtModify":1703496211237,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up yp","listText":"Up up yp","text":"Up up yp","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/802746889","repostId":"2155001152","repostType":4,"repost":{"id":"2155001152","kind":"news","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1627675228,"share":"https://ttm.financial/m/news/2155001152?lang=&edition=fundamental","pubTime":"2021-07-31 04:00","market":"us","language":"en","title":"Wall Street declines with Amazon; S&P 500 posts gains for month","url":"https://stock-news.laohu8.com/highlight/detail?id=2155001152","media":"Reuters","summary":"U.S. consumer spending rises in June, inflation increases . NEW YORK, July 30  - U.S. stocks fell on Friday with Amazon.com shares declining after the company forecast lower sales growth, but the S&P 500 still posted a sixth straight month of gains.Amazon.com Inc shares sank after it reported late on Thursday revenue for the second quarter that was shy of analysts' average estimate and said sales growth would ease in the next few quarters as customers ventured more outside the home.Shares of oth","content":"<ul>\n <li>Pinterest sinks on stalled U.S. user growth</li>\n <li>U.S. consumer spending rises in June, inflation increases (Updates to close)</li>\n</ul>\n<p>NEW YORK, July 30 (Reuters) - U.S. stocks fell on Friday with Amazon.com shares declining after the company forecast lower sales growth, but the S&amp;P 500 still posted a sixth straight month of gains.</p>\n<p>Amazon.com Inc shares sank after it reported late on Thursday revenue for the second quarter that was shy of analysts' average estimate and said sales growth would ease in the next few quarters as customers ventured more outside the home.</p>\n<p>Shares of other internet and tech giants that did well during the lockdowns of last year, including Google parent Alphabet Inc and <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc, were mostly lower.</p>\n<p>\"Overall earnings have been good. But Amazon ... and some of last year's winners are taking some of the air out of the market today,\" said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. \"This market has been driven by big tech and when tech does well, the market seems to go right along with it, and when it doesn't,\" it falls.</p>\n<p>Data on Friday showed U.S. consumer spending rose more than expected in June, although annual inflation accelerated further above the Federal Reserve's 2% target.</p>\n<p>Unofficially, the Dow Jones Industrial Average fell 146.36 points, or 0.42%, to 34,938.17, the S&amp;P 500 lost 23.58 points, or 0.53%, to 4,395.57 and the Nasdaq Composite dropped 101.51 points, or 0.69%, to 14,676.76.</p>\n<p>Strong earnings and the continued rebound in the U.S. economy have helped to support stocks this month, but the rapid spread of the Delta variant of the coronavirus and rising inflation have been concerns.</p>\n<p>\"There are still some distant jitters, whispers about the Delta variant, about cases rising, and I think some underlying worries about a slowdown of the reopenings and possible reversal,\" Dollarhide said.</p>\n<p>Also on the earnings front, Pampers maker Procter &amp; Gamble Co rose as it forecast higher core earnings for this year, and U.S.-listed shares of Canada's <a href=\"https://laohu8.com/S/QSR\">Restaurant Brands International Inc</a> jumped after the Burger King owner beat estimates for quarterly profit.</p>\n<p>Pinterest Inc, however, plunged after saying U.S. user growth was decelerating as people who used the platform for crafts and DIY projects during the height of the pandemic were stepping out more.</p>\n<p>Caterpillar Inc shares also fell, even though the company posted a rise in second-quarter adjusted profit on the back of a recovery in global economic activity.</p>\n<p>Results on the quarter overall have been much stronger than expected, with about 89% of the reports beating analysts' estimates on earnings, according to IBES data from Refinitiv. Earnings are now expected to have climbed 89.8% in the second quarter versus forecasts of 65.4% at the start of July. (Reporting by Caroline Valetkevitch in New York Additional reporting by Sagarika Jaisinghani in Bengaluru Editing by Arun Koyyur and Matthew Lewis)</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street declines with Amazon; S&P 500 posts gains for month</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street declines with Amazon; S&P 500 posts gains for month\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-31 04:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>Pinterest sinks on stalled U.S. user growth</li>\n <li>U.S. consumer spending rises in June, inflation increases (Updates to close)</li>\n</ul>\n<p>NEW YORK, July 30 (Reuters) - U.S. stocks fell on Friday with Amazon.com shares declining after the company forecast lower sales growth, but the S&amp;P 500 still posted a sixth straight month of gains.</p>\n<p>Amazon.com Inc shares sank after it reported late on Thursday revenue for the second quarter that was shy of analysts' average estimate and said sales growth would ease in the next few quarters as customers ventured more outside the home.</p>\n<p>Shares of other internet and tech giants that did well during the lockdowns of last year, including Google parent Alphabet Inc and <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc, were mostly lower.</p>\n<p>\"Overall earnings have been good. But Amazon ... and some of last year's winners are taking some of the air out of the market today,\" said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. \"This market has been driven by big tech and when tech does well, the market seems to go right along with it, and when it doesn't,\" it falls.</p>\n<p>Data on Friday showed U.S. consumer spending rose more than expected in June, although annual inflation accelerated further above the Federal Reserve's 2% target.</p>\n<p>Unofficially, the Dow Jones Industrial Average fell 146.36 points, or 0.42%, to 34,938.17, the S&amp;P 500 lost 23.58 points, or 0.53%, to 4,395.57 and the Nasdaq Composite dropped 101.51 points, or 0.69%, to 14,676.76.</p>\n<p>Strong earnings and the continued rebound in the U.S. economy have helped to support stocks this month, but the rapid spread of the Delta variant of the coronavirus and rising inflation have been concerns.</p>\n<p>\"There are still some distant jitters, whispers about the Delta variant, about cases rising, and I think some underlying worries about a slowdown of the reopenings and possible reversal,\" Dollarhide said.</p>\n<p>Also on the earnings front, Pampers maker Procter &amp; Gamble Co rose as it forecast higher core earnings for this year, and U.S.-listed shares of Canada's <a href=\"https://laohu8.com/S/QSR\">Restaurant Brands International Inc</a> jumped after the Burger King owner beat estimates for quarterly profit.</p>\n<p>Pinterest Inc, however, plunged after saying U.S. user growth was decelerating as people who used the platform for crafts and DIY projects during the height of the pandemic were stepping out more.</p>\n<p>Caterpillar Inc shares also fell, even though the company posted a rise in second-quarter adjusted profit on the back of a recovery in global economic activity.</p>\n<p>Results on the quarter overall have been much stronger than expected, with about 89% of the reports beating analysts' estimates on earnings, according to IBES data from Refinitiv. Earnings are now expected to have climbed 89.8% in the second quarter versus forecasts of 65.4% at the start of July. (Reporting by Caroline Valetkevitch in New York Additional reporting by Sagarika Jaisinghani in Bengaluru Editing by Arun Koyyur and Matthew Lewis)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","IVV":"标普500指数ETF","UPRO":"三倍做多标普500ETF","AMZN":"亚马逊",".SPX":"S&P 500 Index","OEX":"标普100","COMP":"Compass, Inc.","SSO":"两倍做多标普500ETF","SH":"标普500反向ETF","SPY":"标普500ETF","CAT":"卡特彼勒","OEF":"标普100指数ETF-iShares","SPXU":"三倍做空标普500ETF","SDS":"两倍做空标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2155001152","content_text":"Pinterest sinks on stalled U.S. user growth\nU.S. consumer spending rises in June, inflation increases (Updates to close)\n\nNEW YORK, July 30 (Reuters) - U.S. stocks fell on Friday with Amazon.com shares declining after the company forecast lower sales growth, but the S&P 500 still posted a sixth straight month of gains.\nAmazon.com Inc shares sank after it reported late on Thursday revenue for the second quarter that was shy of analysts' average estimate and said sales growth would ease in the next few quarters as customers ventured more outside the home.\nShares of other internet and tech giants that did well during the lockdowns of last year, including Google parent Alphabet Inc and Facebook Inc, were mostly lower.\n\"Overall earnings have been good. But Amazon ... and some of last year's winners are taking some of the air out of the market today,\" said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. \"This market has been driven by big tech and when tech does well, the market seems to go right along with it, and when it doesn't,\" it falls.\nData on Friday showed U.S. consumer spending rose more than expected in June, although annual inflation accelerated further above the Federal Reserve's 2% target.\nUnofficially, the Dow Jones Industrial Average fell 146.36 points, or 0.42%, to 34,938.17, the S&P 500 lost 23.58 points, or 0.53%, to 4,395.57 and the Nasdaq Composite dropped 101.51 points, or 0.69%, to 14,676.76.\nStrong earnings and the continued rebound in the U.S. economy have helped to support stocks this month, but the rapid spread of the Delta variant of the coronavirus and rising inflation have been concerns.\n\"There are still some distant jitters, whispers about the Delta variant, about cases rising, and I think some underlying worries about a slowdown of the reopenings and possible reversal,\" Dollarhide said.\nAlso on the earnings front, Pampers maker Procter & Gamble Co rose as it forecast higher core earnings for this year, and U.S.-listed shares of Canada's Restaurant Brands International Inc jumped after the Burger King owner beat estimates for quarterly profit.\nPinterest Inc, however, plunged after saying U.S. user growth was decelerating as people who used the platform for crafts and DIY projects during the height of the pandemic were stepping out more.\nCaterpillar Inc shares also fell, even though the company posted a rise in second-quarter adjusted profit on the back of a recovery in global economic activity.\nResults on the quarter overall have been much stronger than expected, with about 89% of the reports beating analysts' estimates on earnings, according to IBES data from Refinitiv. Earnings are now expected to have climbed 89.8% in the second quarter versus forecasts of 65.4% at the start of July. (Reporting by Caroline Valetkevitch in New York Additional reporting by Sagarika Jaisinghani in Bengaluru Editing by Arun Koyyur and Matthew Lewis)","news_type":1},"isVote":1,"tweetType":1,"viewCount":241,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":892305934,"gmtCreate":1628637777928,"gmtModify":1676529802005,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/892305934","repostId":"2158035654","repostType":4,"repost":{"id":"2158035654","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1628636676,"share":"https://ttm.financial/m/news/2158035654?lang=&edition=fundamental","pubTime":"2021-08-11 07:04","market":"us","language":"en","title":"Dow, S&P 500 close at records as U.S. infrastructure bill clears Senate","url":"https://stock-news.laohu8.com/highlight/detail?id=2158035654","media":"Reuters","summary":"'Meme stock' AMC gives up early gains and closes down. Kansas City Southern jumps as Canadian Pacific ups buyout offer. NEW YORK, Aug 10  - Wall Street rose on Tuesday, with both the blue-chip Dow and benchmark $S&P 500$ closing at record highs, as economically sensitive value stocks gained with the U.S. Senate's passage of a $1 trillion bipartisan infrastructure package.The bill, which now heads to the House of Representatives, could provide the nation's biggest investment in decades in roads, ","content":"<ul>\n <li>U.S. Senate votes to pass infrastructure package</li>\n</ul>\n<ul>\n <li>'Meme stock' AMC gives up early gains and closes down</li>\n</ul>\n<ul>\n <li>Kansas City Southern jumps as Canadian Pacific ups buyout offer</li>\n</ul>\n<ul>\n <li>Dow up 0.46%, S&amp;P 500 up 0.10%, Nasdaq down 0.49%</li>\n</ul>\n<p>NEW YORK, Aug 10 (Reuters) - Wall Street rose on Tuesday, with both the blue-chip Dow and benchmark <a href=\"https://laohu8.com/S/.SPX\">S&amp;P 500</a> closing at record highs, as economically sensitive value stocks gained with the U.S. Senate's passage of a $1 trillion bipartisan infrastructure package.</p>\n<p>The bill, which now heads to the House of Representatives, could provide the nation's biggest investment in decades in roads, bridges, airports and waterways. Senators also began voting on a follow-up $3.5 trillion spending package that Democrats plan to pass without Republican votes.</p>\n<p>\"The market is looking at it as part one&nbsp;is a done deal, the market is OK with that,\" said Ken Polcari, managing partner at Kace Capital Advisors in Boca Raton, Florida.</p>\n<p>\"I do not believe the market is going to be OK with $3.5 trillion but there is still the possibility they are able to block it, or slow it, and have more conversation so the market isn’t focusing on that one yet.\"</p>\n<p>Energy, industrials and materials, which stand to benefit from an economic recovery, were among the top performing S&amp;P sectors, while names such as Caterpillar, Deere and Vulcan Materials each rose about 2% as they are poised to reap the gains of infrastructure projects.</p>\n<p>The <a href=\"https://laohu8.com/S/EEME\">iShares</a> US Infrastructure ETF rose 1.45% and the <a href=\"https://laohu8.com/S/PAVE\">Global X US Infrastructure Development ETF</a> advanced 2.19%.</p>\n<p>Energy shares were buoyed as recently beaten down crude prices jumped nearly 3%.</p>\n<p>The <a href=\"https://laohu8.com/S/.DJI\">DJIA</a> rose 162.82 points, or 0.46%, to 35,264.67, the S&amp;P 500 gained 4.4 points, or 0.10%, to 4,436.75 and&nbsp;the <a href=\"https://laohu8.com/S/.IXIC\">NASDAQ</a> dropped 72.09 points, or 0.49%, to 14,788.09.</p>\n<p>With new coronavirus cases rising in the United States, progress on the infrastructure package should support the recovery in the world's largest economy.</p>\n<p>The rapid spread of the Delta variant has pushed COVID-19 cases and hospitalizations to a six-month high, with cases averaging 100,000 for three days in a row - up 35% over the past week.</p>\n<p>Investor will also watch inflation numbers this week for more insight into the Federal Reserve's monetary policy plans, in the wake of comments from two Fed officials on Monday that inflation was already at a level that could satisfy one portion of the requirement for the beginning of rate hikes.</p>\n<p><a href=\"https://laohu8.com/S/AMC\">AMC Entertainment</a> gave up early gains and ended the session 6.07% lower even after beating second-quarter revenue estimates as moviegoers returned to its theaters after a year of closures and restrictions.</p>\n<p><a href=\"https://laohu8.com/S/KSU\">Kansas City Southern</a> gained 7.47% after Canadian Pacific Railway Ltd raised its offer for the U.S. railroad operator by about $2 billion to $27.29 billion.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 1.19-to-1 ratio; on Nasdaq, a 1.16-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 50 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 82 new highs and 95 new lows.</p>\n<p>Volume on U.S. exchanges was 8.99 billion shares, compared with the 9.61 billion average for the full session over the last 20 trading days.</p>\n<p><i>Click&nbsp;the&nbsp;following&nbsp;topics&nbsp;to&nbsp;get&nbsp;more&nbsp;information&nbsp;about&nbsp;the&nbsp;financial&nbsp;reports&nbsp;of&nbsp;Coinbase,&nbsp;FuboTV</i><i>&nbsp;and&nbsp;Unity</i><i><i>:</i></i></p>\n<p><a href=\"https://laohu8.com/NW/1198801747\" target=\"_blank\">Coinbase profits surge following volatile stretch of cryptocurrency trading</a></p>\n<p><a href=\"https://laohu8.com/NW/1173905680\" target=\"_blank\">FuboTV stock jumps more than 10% after sports-focused streamer predicts sales will double in 2021</a></p>\n<p><a href=\"https://laohu8.com/NW/1144323106\" target=\"_blank\">Unity gains 2% after Q2 beat, strong revenue guidance</a></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>Dow, S&P 500 close at records as U.S. infrastructure bill clears Senate</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDow, S&P 500 close at records as U.S. infrastructure bill clears Senate\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-08-11 07:04</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>U.S. Senate votes to pass infrastructure package</li>\n</ul>\n<ul>\n <li>'Meme stock' AMC gives up early gains and closes down</li>\n</ul>\n<ul>\n <li>Kansas City Southern jumps as Canadian Pacific ups buyout offer</li>\n</ul>\n<ul>\n <li>Dow up 0.46%, S&amp;P 500 up 0.10%, Nasdaq down 0.49%</li>\n</ul>\n<p>NEW YORK, Aug 10 (Reuters) - Wall Street rose on Tuesday, with both the blue-chip Dow and benchmark <a href=\"https://laohu8.com/S/.SPX\">S&amp;P 500</a> closing at record highs, as economically sensitive value stocks gained with the U.S. Senate's passage of a $1 trillion bipartisan infrastructure package.</p>\n<p>The bill, which now heads to the House of Representatives, could provide the nation's biggest investment in decades in roads, bridges, airports and waterways. Senators also began voting on a follow-up $3.5 trillion spending package that Democrats plan to pass without Republican votes.</p>\n<p>\"The market is looking at it as part one&nbsp;is a done deal, the market is OK with that,\" said Ken Polcari, managing partner at Kace Capital Advisors in Boca Raton, Florida.</p>\n<p>\"I do not believe the market is going to be OK with $3.5 trillion but there is still the possibility they are able to block it, or slow it, and have more conversation so the market isn’t focusing on that one yet.\"</p>\n<p>Energy, industrials and materials, which stand to benefit from an economic recovery, were among the top performing S&amp;P sectors, while names such as Caterpillar, Deere and Vulcan Materials each rose about 2% as they are poised to reap the gains of infrastructure projects.</p>\n<p>The <a href=\"https://laohu8.com/S/EEME\">iShares</a> US Infrastructure ETF rose 1.45% and the <a href=\"https://laohu8.com/S/PAVE\">Global X US Infrastructure Development ETF</a> advanced 2.19%.</p>\n<p>Energy shares were buoyed as recently beaten down crude prices jumped nearly 3%.</p>\n<p>The <a href=\"https://laohu8.com/S/.DJI\">DJIA</a> rose 162.82 points, or 0.46%, to 35,264.67, the S&amp;P 500 gained 4.4 points, or 0.10%, to 4,436.75 and&nbsp;the <a href=\"https://laohu8.com/S/.IXIC\">NASDAQ</a> dropped 72.09 points, or 0.49%, to 14,788.09.</p>\n<p>With new coronavirus cases rising in the United States, progress on the infrastructure package should support the recovery in the world's largest economy.</p>\n<p>The rapid spread of the Delta variant has pushed COVID-19 cases and hospitalizations to a six-month high, with cases averaging 100,000 for three days in a row - up 35% over the past week.</p>\n<p>Investor will also watch inflation numbers this week for more insight into the Federal Reserve's monetary policy plans, in the wake of comments from two Fed officials on Monday that inflation was already at a level that could satisfy one portion of the requirement for the beginning of rate hikes.</p>\n<p><a href=\"https://laohu8.com/S/AMC\">AMC Entertainment</a> gave up early gains and ended the session 6.07% lower even after beating second-quarter revenue estimates as moviegoers returned to its theaters after a year of closures and restrictions.</p>\n<p><a href=\"https://laohu8.com/S/KSU\">Kansas City Southern</a> gained 7.47% after Canadian Pacific Railway Ltd raised its offer for the U.S. railroad operator by about $2 billion to $27.29 billion.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 1.19-to-1 ratio; on Nasdaq, a 1.16-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 50 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 82 new highs and 95 new lows.</p>\n<p>Volume on U.S. exchanges was 8.99 billion shares, compared with the 9.61 billion average for the full session over the last 20 trading days.</p>\n<p><i>Click&nbsp;the&nbsp;following&nbsp;topics&nbsp;to&nbsp;get&nbsp;more&nbsp;information&nbsp;about&nbsp;the&nbsp;financial&nbsp;reports&nbsp;of&nbsp;Coinbase,&nbsp;FuboTV</i><i>&nbsp;and&nbsp;Unity</i><i><i>:</i></i></p>\n<p><a href=\"https://laohu8.com/NW/1198801747\" target=\"_blank\">Coinbase profits surge following volatile stretch of cryptocurrency trading</a></p>\n<p><a href=\"https://laohu8.com/NW/1173905680\" target=\"_blank\">FuboTV stock jumps more than 10% after sports-focused streamer predicts sales will double in 2021</a></p>\n<p><a href=\"https://laohu8.com/NW/1144323106\" target=\"_blank\">Unity gains 2% after Q2 beat, strong revenue guidance</a></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","AMC":"AMC院线","SH":"标普500反向ETF","IVV":"标普500指数ETF","UPRO":"三倍做多标普500ETF","SSO":"两倍做多标普500ETF","SPY":"标普500ETF","KSU":"堪萨斯南方铁路","SPXU":"三倍做空标普500ETF","OEF":"标普100指数ETF-iShares",".DJI":"道琼斯","VMC":"火神材料",".IXIC":"NASDAQ Composite","SDS":"两倍做空标普500ETF","OEX":"标普100",".SPX":"S&P 500 Index","CAT":"卡特彼勒"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2158035654","content_text":"U.S. Senate votes to pass infrastructure package\n\n\n'Meme stock' AMC gives up early gains and closes down\n\n\nKansas City Southern jumps as Canadian Pacific ups buyout offer\n\n\nDow up 0.46%, S&P 500 up 0.10%, Nasdaq down 0.49%\n\nNEW YORK, Aug 10 (Reuters) - Wall Street rose on Tuesday, with both the blue-chip Dow and benchmark S&P 500 closing at record highs, as economically sensitive value stocks gained with the U.S. Senate's passage of a $1 trillion bipartisan infrastructure package.\nThe bill, which now heads to the House of Representatives, could provide the nation's biggest investment in decades in roads, bridges, airports and waterways. Senators also began voting on a follow-up $3.5 trillion spending package that Democrats plan to pass without Republican votes.\n\"The market is looking at it as part one is a done deal, the market is OK with that,\" said Ken Polcari, managing partner at Kace Capital Advisors in Boca Raton, Florida.\n\"I do not believe the market is going to be OK with $3.5 trillion but there is still the possibility they are able to block it, or slow it, and have more conversation so the market isn’t focusing on that one yet.\"\nEnergy, industrials and materials, which stand to benefit from an economic recovery, were among the top performing S&P sectors, while names such as Caterpillar, Deere and Vulcan Materials each rose about 2% as they are poised to reap the gains of infrastructure projects.\nThe iShares US Infrastructure ETF rose 1.45% and the Global X US Infrastructure Development ETF advanced 2.19%.\nEnergy shares were buoyed as recently beaten down crude prices jumped nearly 3%.\nThe DJIA rose 162.82 points, or 0.46%, to 35,264.67, the S&P 500 gained 4.4 points, or 0.10%, to 4,436.75 and the NASDAQ dropped 72.09 points, or 0.49%, to 14,788.09.\nWith new coronavirus cases rising in the United States, progress on the infrastructure package should support the recovery in the world's largest economy.\nThe rapid spread of the Delta variant has pushed COVID-19 cases and hospitalizations to a six-month high, with cases averaging 100,000 for three days in a row - up 35% over the past week.\nInvestor will also watch inflation numbers this week for more insight into the Federal Reserve's monetary policy plans, in the wake of comments from two Fed officials on Monday that inflation was already at a level that could satisfy one portion of the requirement for the beginning of rate hikes.\nAMC Entertainment gave up early gains and ended the session 6.07% lower even after beating second-quarter revenue estimates as moviegoers returned to its theaters after a year of closures and restrictions.\nKansas City Southern gained 7.47% after Canadian Pacific Railway Ltd raised its offer for the U.S. railroad operator by about $2 billion to $27.29 billion.\nAdvancing issues outnumbered declining ones on the NYSE by a 1.19-to-1 ratio; on Nasdaq, a 1.16-to-1 ratio favored decliners.\nThe S&P 500 posted 50 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 82 new highs and 95 new lows.\nVolume on U.S. exchanges was 8.99 billion shares, compared with the 9.61 billion average for the full session over the last 20 trading days.\nClick the following topics to get more information about the financial reports of Coinbase, FuboTV and Unity:\nCoinbase profits surge following volatile stretch of cryptocurrency trading\nFuboTV stock jumps more than 10% after sports-focused streamer predicts sales will double in 2021\nUnity gains 2% after Q2 beat, strong revenue guidance","news_type":1},"isVote":1,"tweetType":1,"viewCount":555,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126332887,"gmtCreate":1624544087649,"gmtModify":1703839942526,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Cruise business very painful","listText":"Cruise business very painful","text":"Cruise business very painful","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/126332887","repostId":"2145425140","repostType":4,"repost":{"id":"2145425140","kind":"news","pubTimestamp":1624541465,"share":"https://ttm.financial/m/news/2145425140?lang=&edition=fundamental","pubTime":"2021-06-24 21:31","market":"us","language":"en","title":"Carnival posts $2 billion in loss on prolonged cruise suspension","url":"https://stock-news.laohu8.com/highlight/detail?id=2145425140","media":"Reuters","summary":"June 24 (Reuters) - Carnival Corp reported a quarterly loss of about $2 billion on Thursday, as the ","content":"<p>June 24 (Reuters) - Carnival Corp reported a quarterly loss of about $2 billion on Thursday, as the prolonged suspension of cruises due to the COVID-19 pandemic hammered its business.</p>\n<p>Cruise operators have recorded little to no revenue due to the no-sail order from the U.S. Centers for Disease Control and Prevention, forcing them to tap billions of dollars in debt and even sell a few ships to stay afloat.</p>\n<p>Carnival ended the second quarter with $9.3 billion in cash and short-term investments, down from $11.5 billion at the end of the first quarter, as it spent heavily to prepare its ships for voyages.</p>\n<p>Net loss was $2.07 billion for the second quarter ended May 31, compared with $4.37 billion a year earlier. Refinitiv data shows Carnival's loss in the last four quarter was $1.97 billion at the least.</p>\n<p>The operator of Princess Cruises also backed its expectations for a third-quarter loss.</p>\n<p>(Reporting by Praveen Paramasivam in Bengaluru; Editing by Anil D'Silva)</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Carnival posts $2 billion in loss on prolonged cruise suspension</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\">\nCarnival posts $2 billion in loss on prolonged cruise suspension\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-24 21:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/1-carnival-posts-2-billion-133105376.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>June 24 (Reuters) - Carnival Corp reported a quarterly loss of about $2 billion on Thursday, as the prolonged suspension of cruises due to the COVID-19 pandemic hammered its business.\nCruise operators...</p>\n\n<a href=\"https://finance.yahoo.com/news/1-carnival-posts-2-billion-133105376.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CUK":"嘉年华存托凭证","CCL":"嘉年华邮轮"},"source_url":"https://finance.yahoo.com/news/1-carnival-posts-2-billion-133105376.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2145425140","content_text":"June 24 (Reuters) - Carnival Corp reported a quarterly loss of about $2 billion on Thursday, as the prolonged suspension of cruises due to the COVID-19 pandemic hammered its business.\nCruise operators have recorded little to no revenue due to the no-sail order from the U.S. Centers for Disease Control and Prevention, forcing them to tap billions of dollars in debt and even sell a few ships to stay afloat.\nCarnival ended the second quarter with $9.3 billion in cash and short-term investments, down from $11.5 billion at the end of the first quarter, as it spent heavily to prepare its ships for voyages.\nNet loss was $2.07 billion for the second quarter ended May 31, compared with $4.37 billion a year earlier. Refinitiv data shows Carnival's loss in the last four quarter was $1.97 billion at the least.\nThe operator of Princess Cruises also backed its expectations for a third-quarter loss.\n(Reporting by Praveen Paramasivam in Bengaluru; Editing by Anil D'Silva)","news_type":1},"isVote":1,"tweetType":1,"viewCount":127,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120706149,"gmtCreate":1624335745081,"gmtModify":1703833824099,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/120706149","repostId":"1191349655","repostType":4,"repost":{"id":"1191349655","kind":"news","pubTimestamp":1624316842,"share":"https://ttm.financial/m/news/1191349655?lang=&edition=fundamental","pubTime":"2021-06-22 07:07","market":"us","language":"en","title":"Wall Street ends sharply higher, led by surging Dow","url":"https://stock-news.laohu8.com/highlight/detail?id=1191349655","media":"Reuters","summary":"(Reuters) - Wall Street rallied on Monday, with the Dow completing its strongest session in over thr","content":"<p>(Reuters) - Wall Street rallied on Monday, with the Dow completing its strongest session in over three months as investors piled back in to energy and other sectors expected to outperform as the economy rebounds from the pandemic.</p>\n<p>The small-cap Russell 2000 and the Dow Jones Transports Average, considered a barometer of economic health, both jumped about 2%.</p>\n<p>The S&amp;P 500 value index, which includes banks, energy and other economically sensitive sectors and has led gains in U.S. equities so far this year, surged 1.9%, outperforming a 0.9% rise in the growth index.</p>\n<p>That was a stark reversal from last week, when the Fed’s hawkish signals on monetary policy sparked a round of profit taking that wiped out value stocks’ lead over growth this month and triggered the worst weekly performance for the Dow and the S&amp;P 500 in months.</p>\n<p>“The overall theme here is the market still does not know whether it wants easy money or tight money and it’s in a tug of war,” said Randy Frederick, vice president of trading and derivatives at Charles Schwab.</p>\n<p>All 11 S&amp;P 500 sector indexes rose, with energy jumping 4.3% and leading the way, followed by financials, up 2.4%.</p>\n<p>Microsoft Corp rose 1.2% to close at an all-time high.</p>\n<p>The S&amp;P 500 has traded in a tight range this month as investors juggled fears of an overheating economy with optimism about a strong economic rebound.</p>\n<p>(Graphic: Value vs Growth stocks, )</p>\n<p><img src=\"https://static.tigerbbs.com/cef3457ef1409a02e910dfc35591b8dc\" tg-width=\"963\" tg-height=\"726\" referrerpolicy=\"no-referrer\"></p>\n<p>Focus this week will be on U.S. factory activity surveys and home sales data, while Fed Chair Jerome Powell testifies before Congress on Tuesday.</p>\n<p>The Dow Jones Industrial Average rose 1.76% to end at 33,876.97 points, while the S&amp;P 500 gained 1.40% to 4,224.79. The Nasdaq Composite climbed 0.79% to 14,141.48.</p>\n<p>Cryptocurrency stocks, including miners Riot Blockchain, Marathon Patent Group and crypto exchange Coinbase Global, tumbled between 1% and 4% on China’s expanding crackdown on bitcoin mining.</p>\n<p>Moderna Inc rallied 4.5% after a report said the drugmaker is adding two new production lines at a COVID-19 vaccine manufacturing plant, in a bid to prepare for making more booster shots.</p>\n<p>Market participants are girding for a major trading event on Friday, when the FTSE Russell completes the annual rebalancing of its indexes, potentially affecting trillions of dollars in investments.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 2.86-to-1 ratio; on Nasdaq, a 1.44-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 20 new 52-week highs and no new lows; the Nasdaq Composite recorded 74 new highs and 55 new lows.</p>\n<p>Volume on U.S. exchanges was 10.1 billion shares, compared with the 11 billion average over the last 20 trading days.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street ends sharply higher, led by surging Dow</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street ends sharply higher, led by surging Dow\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-22 07:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/us-usa-stocks/wall-street-ends-sharply-higher-led-by-surging-dow-idUSKCN2DX12Z><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Reuters) - Wall Street rallied on Monday, with the Dow completing its strongest session in over three months as investors piled back in to energy and other sectors expected to outperform as the ...</p>\n\n<a href=\"https://www.reuters.com/article/us-usa-stocks/wall-street-ends-sharply-higher-led-by-surging-dow-idUSKCN2DX12Z\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index","MSFT":"微软"},"source_url":"https://www.reuters.com/article/us-usa-stocks/wall-street-ends-sharply-higher-led-by-surging-dow-idUSKCN2DX12Z","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191349655","content_text":"(Reuters) - Wall Street rallied on Monday, with the Dow completing its strongest session in over three months as investors piled back in to energy and other sectors expected to outperform as the economy rebounds from the pandemic.\nThe small-cap Russell 2000 and the Dow Jones Transports Average, considered a barometer of economic health, both jumped about 2%.\nThe S&P 500 value index, which includes banks, energy and other economically sensitive sectors and has led gains in U.S. equities so far this year, surged 1.9%, outperforming a 0.9% rise in the growth index.\nThat was a stark reversal from last week, when the Fed’s hawkish signals on monetary policy sparked a round of profit taking that wiped out value stocks’ lead over growth this month and triggered the worst weekly performance for the Dow and the S&P 500 in months.\n“The overall theme here is the market still does not know whether it wants easy money or tight money and it’s in a tug of war,” said Randy Frederick, vice president of trading and derivatives at Charles Schwab.\nAll 11 S&P 500 sector indexes rose, with energy jumping 4.3% and leading the way, followed by financials, up 2.4%.\nMicrosoft Corp rose 1.2% to close at an all-time high.\nThe S&P 500 has traded in a tight range this month as investors juggled fears of an overheating economy with optimism about a strong economic rebound.\n(Graphic: Value vs Growth stocks, )\n\nFocus this week will be on U.S. factory activity surveys and home sales data, while Fed Chair Jerome Powell testifies before Congress on Tuesday.\nThe Dow Jones Industrial Average rose 1.76% to end at 33,876.97 points, while the S&P 500 gained 1.40% to 4,224.79. The Nasdaq Composite climbed 0.79% to 14,141.48.\nCryptocurrency stocks, including miners Riot Blockchain, Marathon Patent Group and crypto exchange Coinbase Global, tumbled between 1% and 4% on China’s expanding crackdown on bitcoin mining.\nModerna Inc rallied 4.5% after a report said the drugmaker is adding two new production lines at a COVID-19 vaccine manufacturing plant, in a bid to prepare for making more booster shots.\nMarket participants are girding for a major trading event on Friday, when the FTSE Russell completes the annual rebalancing of its indexes, potentially affecting trillions of dollars in investments.\nAdvancing issues outnumbered declining ones on the NYSE by a 2.86-to-1 ratio; on Nasdaq, a 1.44-to-1 ratio favored advancers.\nThe S&P 500 posted 20 new 52-week highs and no new lows; the Nasdaq Composite recorded 74 new highs and 55 new lows.\nVolume on U.S. exchanges was 10.1 billion shares, compared with the 11 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":196,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":168001417,"gmtCreate":1623942546239,"gmtModify":1703824229464,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/FLEX\">$Flextronics(FLEX)$</a>Why Flex keep dropping..&nbsp;","listText":"<a href=\"https://laohu8.com/S/FLEX\">$Flextronics(FLEX)$</a>Why Flex keep dropping..&nbsp;","text":"$Flextronics(FLEX)$Why Flex keep dropping..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/168001417","isVote":1,"tweetType":1,"viewCount":874,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"content":"Funny more profit they make the more the price drop dunno what the logic behind. maybe big boys pushing it down to buy cheaper","text":"Funny more profit they make the more the price drop dunno what the logic behind. maybe big boys pushing it down to buy cheaper","html":"Funny more profit they make the more the price drop dunno what the logic behind. maybe big boys pushing it down to buy cheaper"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":116539352,"gmtCreate":1622810299676,"gmtModify":1704191598987,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>I am optimistic on tiger. The only downside risk.. The app have to slow down a little on encouraging day trade. If the Chinesegovernment deem it to be like gambling. They willcreate barrier to prevent ordinary citizens from entering just like crypto... the government are alsowatching the tech apps space on trading. It will fuel speculation. If this happen there will be big drop","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>I am optimistic on tiger. The only downside risk.. The app have to slow down a little on encouraging day trade. If the Chinesegovernment deem it to be like gambling. They willcreate barrier to prevent ordinary citizens from entering just like crypto... the government are alsowatching the tech apps space on trading. It will fuel speculation. If this happen there will be big drop","text":"$Tiger Brokers(TIGR)$I am optimistic on tiger. The only downside risk.. The app have to slow down a little on encouraging day trade. If the Chinesegovernment deem it to be like gambling. They willcreate barrier to prevent ordinary citizens from entering just like crypto... the government are alsowatching the tech apps space on trading. It will fuel speculation. If this happen there will be big drop","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/116539352","isVote":1,"tweetType":1,"viewCount":795,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"109921353127640","authorId":"109921353127640","name":"降龙无悔","avatar":"https://static.tigerbbs.com/dea6a6ad82f509f07f16471ea9a8e919","crmLevel":2,"crmLevelSwitch":0,"idStr":"109921353127640","authorIdStr":"109921353127640"},"content":"The government most wants you to keep trading every day, so that you can collect stamp duty. I don't know how you think","text":"The government most wants you to keep trading every day, so that you can collect stamp duty. I don't know how you think","html":"The government most wants you to keep trading every day, so that you can collect stamp duty. I don't know how you think"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171974880,"gmtCreate":1626704481940,"gmtModify":1703763708830,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"Hotter","listText":"Hotter","text":"Hotter","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/171974880","repostId":"1146536243","repostType":4,"repost":{"id":"1146536243","kind":"news","pubTimestamp":1626683272,"share":"https://ttm.financial/m/news/1146536243?lang=&edition=fundamental","pubTime":"2021-07-19 16:27","market":"us","language":"en","title":"Morgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual","url":"https://stock-news.laohu8.com/highlight/detail?id=1146536243","media":"zerohedge","summary":"This cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.","content":"<p>We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.</p>\n<p>The debate over cycle 'normalcy' is self-explanatory. The pandemic created, without exaggeration, the single sharpest decline in output in recorded history. Then activity raced back, helped by policy support. The case for viewing this situation as unique, and distinct from other cyclical experiences, is based on the view that a fall and rise this violent never allowed for a traditional 'reset'.</p>\n<p>But 'normal' in markets is a funny concept, with the rough edges of memory often smoothed and polished by the passage of time. The cycle of 2003-07 ended with the largest banking and housing crisis since the Great Depression. The cycle of 1992-2000 ended with the bursting of an enormous equity bubble, widespread accounting fraud and unspeakable tragedy. 'Normal' cycles are nice in theory, harder in practice.</p>\n<p>Instead, let’s consider why we use the term ‘cycle’ at all. Economies and markets tend to follow cyclical patterns, patterns that tend to show up in market performance. It is those patterns we care about, and if they still apply, they can provide a useful guide in uncertain terrain.</p>\n<p>Was last year’s recession preceded by late-cycle conditions such as an inverted yield curve, low volatility, low unemployment, high consumer confidence and narrowing equity market breadth? It was. Did the resulting troughs in equities, credit, yields and yield curves match the usual cadence between market and economic lows? They did. And were the leaders of the ensuing rally the usual early-cycle winners, like small and cyclical stocks, high yield credit and industrial metals? They were.</p>\n<p>If it walks like a duck and quacks like a duck, we think that it’s a normal cycle. Or as normal as these things realistically are.&nbsp;If a lot of 'normal' cycle behavior has played out so far, it should&nbsp;<i>continue</i>&nbsp;to do so.</p>\n<p>Specifically, this relates to patterns of performance as the market recovers. And as that recovery advances, those patterns should shift. As noted by my colleague Michael Wilson, we think that we are moving to a mid-cycle market, despite being just 16 months removed from the lows of economic activity. We see a number of similarities between current conditions and 1H04, a mid-cycle period that followed a large, reflationary rally. And importantly, despite recent fears about growth, we think that the global recovery will keep pushing on (see&nbsp;The Growth Scare Anniversary, July 11, 2021).</p>\n<p>Because one can always find an indicator that fits their particular cycle view, we’ve long been fans of a composite. That’s our ‘cycle model’, which combines ten US metrics across macro, the credit cycle and corporate aggression to gauge where we are in the market cycle. After moving into late-cycle ‘downturn’ in June 2019, and early-cycle ‘repair’ in April 2020, it’s rocketed higher.<b>It has risen so fast that it’s blown right past what should be the next phase ('recovery'), and moved right into ‘expansion’.</b></p>\n<p><img src=\"https://static.tigerbbs.com/41879c4f66b33597ee236bdd52841004\" tg-width=\"904\" tg-height=\"490\" referrerpolicy=\"no-referrer\">Thisis unusual. ‘Expansion’ is meant to capture conditions that are 'better than normal, and improving',<b>and since 1980, it has taken an average of 35 months to get there after 'downturn' ends</b>. Its speedy arrival speaks to a speedy recovery powered by enormous policy support.<b>It also hints at another possibility:&nbsp;this hotter cycle could be shorter.</b>This is our thesis, and it’s showing up in our quantitative measure.</p>\n<p>All this has a number of implications:</p>\n<ul>\n <li><b>The shorter the cycle, the worse for credit relative to other risky assets; credit enjoys fewer of the gains from the 'boom', is exposed if the next downturn is early, and faces more supply as corporate confidence increases</b>. In the ‘expansion’ phase of our cycle model, US IG and HY credit N12M excess returns are 29bp and 161bp worse than average, respectively.</li>\n <li><b>In many of those periods, more mixed credit performance occurs despite default rates remaining low</b>. Investors should try to take default risk over spread risk: our credit strategists like owning CDX HY 0-15%, and hedging with CDX IG payer spreads.</li>\n <li><b>In equities, we think that our model supports more balance in portfolios</b>. We like healthcare in both the US and Europe as a sector with several nice factor exposures: quality, low valuation, high carry and low volatility. Globally, equities in Europe and Japan have tended to outperform 'mid-cycle', and we think that they can do so again.</li>\n <li><b>Interest rates are too pessimistic on the recovery. US 10-year Treasury N12M returns are 97bp worse than average during the ‘expansion’ phase of our cycle model</b>. Guneet Dhingra and our US interest rate strategy team have moved underweight US 10-year Treasuries, and we in turn have moved back underweight government bonds in our global asset allocation.</li>\n</ul>\n<p>This cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.</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>Morgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual</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\">\nMorgan Stanley: This Cycle Will Be \"Hotter But Shorter\" Than Usual\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-19 16:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/morgan-stanley-cycle-will-be-hotter-shorter-usual><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.\nThe debate over cycle '...</p>\n\n<a href=\"https://www.zerohedge.com/markets/morgan-stanley-cycle-will-be-hotter-shorter-usual\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/morgan-stanley-cycle-will-be-hotter-shorter-usual","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146536243","content_text":"We think that this economic cycle will be normal, strong and short. Each of these assumptions is being hotly debated by the market. Each is key to our investment strategy.\nThe debate over cycle 'normalcy' is self-explanatory. The pandemic created, without exaggeration, the single sharpest decline in output in recorded history. Then activity raced back, helped by policy support. The case for viewing this situation as unique, and distinct from other cyclical experiences, is based on the view that a fall and rise this violent never allowed for a traditional 'reset'.\nBut 'normal' in markets is a funny concept, with the rough edges of memory often smoothed and polished by the passage of time. The cycle of 2003-07 ended with the largest banking and housing crisis since the Great Depression. The cycle of 1992-2000 ended with the bursting of an enormous equity bubble, widespread accounting fraud and unspeakable tragedy. 'Normal' cycles are nice in theory, harder in practice.\nInstead, let’s consider why we use the term ‘cycle’ at all. Economies and markets tend to follow cyclical patterns, patterns that tend to show up in market performance. It is those patterns we care about, and if they still apply, they can provide a useful guide in uncertain terrain.\nWas last year’s recession preceded by late-cycle conditions such as an inverted yield curve, low volatility, low unemployment, high consumer confidence and narrowing equity market breadth? It was. Did the resulting troughs in equities, credit, yields and yield curves match the usual cadence between market and economic lows? They did. And were the leaders of the ensuing rally the usual early-cycle winners, like small and cyclical stocks, high yield credit and industrial metals? They were.\nIf it walks like a duck and quacks like a duck, we think that it’s a normal cycle. Or as normal as these things realistically are. If a lot of 'normal' cycle behavior has played out so far, it should continue to do so.\nSpecifically, this relates to patterns of performance as the market recovers. And as that recovery advances, those patterns should shift. As noted by my colleague Michael Wilson, we think that we are moving to a mid-cycle market, despite being just 16 months removed from the lows of economic activity. We see a number of similarities between current conditions and 1H04, a mid-cycle period that followed a large, reflationary rally. And importantly, despite recent fears about growth, we think that the global recovery will keep pushing on (see The Growth Scare Anniversary, July 11, 2021).\nBecause one can always find an indicator that fits their particular cycle view, we’ve long been fans of a composite. That’s our ‘cycle model’, which combines ten US metrics across macro, the credit cycle and corporate aggression to gauge where we are in the market cycle. After moving into late-cycle ‘downturn’ in June 2019, and early-cycle ‘repair’ in April 2020, it’s rocketed higher.It has risen so fast that it’s blown right past what should be the next phase ('recovery'), and moved right into ‘expansion’.\nThisis unusual. ‘Expansion’ is meant to capture conditions that are 'better than normal, and improving',and since 1980, it has taken an average of 35 months to get there after 'downturn' ends. Its speedy arrival speaks to a speedy recovery powered by enormous policy support.It also hints at another possibility: this hotter cycle could be shorter.This is our thesis, and it’s showing up in our quantitative measure.\nAll this has a number of implications:\n\nThe shorter the cycle, the worse for credit relative to other risky assets; credit enjoys fewer of the gains from the 'boom', is exposed if the next downturn is early, and faces more supply as corporate confidence increases. In the ‘expansion’ phase of our cycle model, US IG and HY credit N12M excess returns are 29bp and 161bp worse than average, respectively.\nIn many of those periods, more mixed credit performance occurs despite default rates remaining low. Investors should try to take default risk over spread risk: our credit strategists like owning CDX HY 0-15%, and hedging with CDX IG payer spreads.\nIn equities, we think that our model supports more balance in portfolios. We like healthcare in both the US and Europe as a sector with several nice factor exposures: quality, low valuation, high carry and low volatility. Globally, equities in Europe and Japan have tended to outperform 'mid-cycle', and we think that they can do so again.\nInterest rates are too pessimistic on the recovery. US 10-year Treasury N12M returns are 97bp worse than average during the ‘expansion’ phase of our cycle model. Guneet Dhingra and our US interest rate strategy team have moved underweight US 10-year Treasuries, and we in turn have moved back underweight government bonds in our global asset allocation.\n\nThis cycle is unusual. Most 'normal' cycles are. We think that the recovery is sustainable and more likely to be ‘hotter and shorter’. Sell Treasuries and trust the expansion.","news_type":1},"isVote":1,"tweetType":1,"viewCount":180,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141956352,"gmtCreate":1625835507976,"gmtModify":1703749497689,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Fortune favour the Brave. Buy when bad news surround the company.. when the sun start to shine. Tigr will move up","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Fortune favour the Brave. Buy when bad news surround the company.. when the sun start to shine. Tigr will move up","text":"$Tiger Brokers(TIGR)$Fortune favour the Brave. Buy when bad news surround the company.. when the sun start to shine. Tigr will move up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/141956352","isVote":1,"tweetType":1,"viewCount":284,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":168007354,"gmtCreate":1623942729078,"gmtModify":1703824237077,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Come on clear $26 mark","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Come on clear $26 mark","text":"$Tiger Brokers(TIGR)$Come on clear $26 mark","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/168007354","isVote":1,"tweetType":1,"viewCount":46,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122450967,"gmtCreate":1624630848359,"gmtModify":1703842271747,"author":{"id":"3583633291994636","authorId":"3583633291994636","name":"PASTEL","avatar":"https://static.tigerbbs.com/fd29d64e4d16078d6aceb8b9784d645c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583633291994636","authorIdStr":"3583633291994636"},"themes":[],"htmlText":"A little to late after losing to Apple And google","listText":"A little to late after losing to Apple And google","text":"A little to late after losing to Apple And google","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/122450967","repostId":"2146023165","repostType":4,"repost":{"id":"2146023165","kind":"news","pubTimestamp":1624614720,"share":"https://ttm.financial/m/news/2146023165?lang=&edition=fundamental","pubTime":"2021-06-25 17:52","market":"us","language":"en","title":"Microsoft sent a strong signal to developers that could hurt Apple and Google","url":"https://stock-news.laohu8.com/highlight/detail?id=2146023165","media":"Yahoo Finance","summary":"Microsoft  launched a broadside against rivals Apple  and Google  on Thursday, announcing that the next version of Windows, called Windows 11, will feature an app store that lets developers keep 100% of the revenue from sales of their apps.That’s a massive departure from the policies Apple and Google have in place that require app developers who use their stores to pay 30% fees on the sale of apps and in-app purchases.“Windows has always stood for sovereignty for creators and agency for consumer","content":"<p>Microsoft (MSFT) launched a broadside against rivals Apple (AAPL) and Google (GOOG, GOOGL) on Thursday, announcing that the next version of Windows, called Windows 11, will feature an app store that lets developers keep 100% of the revenue from sales of their apps.</p>\n<p>That’s a massive departure from the policies Apple and Google have in place that require app developers who use their stores to pay 30% fees on the sale of apps and in-app purchases.</p>\n<p>“Windows has always stood for sovereignty for creators and agency for consumers,” Microsoft CEO Satya Nadella said. “A platform can only serve society if its rules allow for this foundational innovation and category creation. It’s why we’re introducing new store commerce models and policies.”</p>\n<p>The move is certain to rankle executives at both Apple and Google, which are facing antitrust investigations into their app store practices.</p>\n<p>Apple is awaiting a ruling in an antitrust case brought by Epic Games, in which the “Fortnite” developer accused the iPhone maker of abusing its market power over the App Store by forcing developers to use its own payment system and fork over the associated fees.</p>\n<p>Google, meanwhile, faces a similar lawsuit from Epic and is expected to get slapped with a lawsuit from a collection of state attorneys general for its app store policies.</p>\n<h3><b>Microsoft has been criticizing Apple’s policies</b></h3>\n<p>This isn’t the first time Microsoft has called out its rivals and their app stores. The company has criticized Apple’s policies in the past, specifically Apple’s policy of taking a share of revenue from Microsoft apps purchased through the Apple App Store.</p>\n<p>More recently, Microsoft sparred with Apple over its desire to get its xCloud cloud gaming platform onto the iPhone via a native app. Apple has pushed back, hampering Microsoft’s cloud gaming ambitions and forcing it to make users rely on a browser-style app.</p>\n<p>That led Microsoft to meet and lodge a complaint with members of the House Antitrust Subcommittee during the body’s investigation into Apple, Google, Amazon, and <a href=\"https://laohu8.com/S/FB\">Facebook</a>.</p>\n<p><img src=\"https://static.tigerbbs.com/d92ddac610658f60945c72fc4da23210\" tg-width=\"1024\" tg-height=\"640\" referrerpolicy=\"no-referrer\">Microsoft has debuted the latest version of its Windows operating system: Windows 11. (Image: Microsoft)Microsoft</p>\n<p>Microsoft also took aim at Apple in the iPhone maker’s battle with “Fortnite” developer Epic Games. In that instance, Microsoft filed a statement of support for Epic in its fight to prevent Apple withholding iOS support for Epic’s Unreal Engine.</p>\n<p>Epic initially sued Apple and Google after the two companies removed “Fornite” from their respective app stores. Apple and Google argue that Epic implemented an update that added a separate payment system allowing consumers to circumvent Apple or Google’s payment services. That effectively cut out Apple and Google’s 30% app store fees.</p>\n<p>Epic’s fight with Apple wrapped up earlier this month and a ruling is expected before the end of the summer.</p>\n<h3><b>Microsoft could win over developers</b></h3>\n<p>With its decision to allow developers to use their own payment systems, Microsoft is sending a signal to the global developer community that it is willing to play by their rules. That could help the company as it seeks to build out its app store and drive more business for Windows.</p>\n<p>While Microsoft was caught flat-footed in the smartphone wars, its moves with the Windows 11 Microsoft Store could give it the kind of boost from developers that it needs to begin taking market share from Apple and Google in the fight for app store supremacy. It’s now up to Apple and Google to respond.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Microsoft sent a strong signal to developers that could hurt Apple and Google</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\">\nMicrosoft sent a strong signal to developers that could hurt Apple and Google\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 17:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/microsoft-app-store-revenue-google-apple-200213646.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Microsoft (MSFT) launched a broadside against rivals Apple (AAPL) and Google (GOOG, GOOGL) on Thursday, announcing that the next version of Windows, called Windows 11, will feature an app store that ...</p>\n\n<a href=\"https://finance.yahoo.com/news/microsoft-app-store-revenue-google-apple-200213646.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"03086":"华夏纳指","GOOGL":"谷歌A","AAPL":"苹果","MSFT":"微软","GOOG":"谷歌","QNETCN":"纳斯达克中美互联网老虎指数","09086":"华夏纳指-U"},"source_url":"https://finance.yahoo.com/news/microsoft-app-store-revenue-google-apple-200213646.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2146023165","content_text":"Microsoft (MSFT) launched a broadside against rivals Apple (AAPL) and Google (GOOG, GOOGL) on Thursday, announcing that the next version of Windows, called Windows 11, will feature an app store that lets developers keep 100% of the revenue from sales of their apps.\nThat’s a massive departure from the policies Apple and Google have in place that require app developers who use their stores to pay 30% fees on the sale of apps and in-app purchases.\n“Windows has always stood for sovereignty for creators and agency for consumers,” Microsoft CEO Satya Nadella said. “A platform can only serve society if its rules allow for this foundational innovation and category creation. It’s why we’re introducing new store commerce models and policies.”\nThe move is certain to rankle executives at both Apple and Google, which are facing antitrust investigations into their app store practices.\nApple is awaiting a ruling in an antitrust case brought by Epic Games, in which the “Fortnite” developer accused the iPhone maker of abusing its market power over the App Store by forcing developers to use its own payment system and fork over the associated fees.\nGoogle, meanwhile, faces a similar lawsuit from Epic and is expected to get slapped with a lawsuit from a collection of state attorneys general for its app store policies.\nMicrosoft has been criticizing Apple’s policies\nThis isn’t the first time Microsoft has called out its rivals and their app stores. The company has criticized Apple’s policies in the past, specifically Apple’s policy of taking a share of revenue from Microsoft apps purchased through the Apple App Store.\nMore recently, Microsoft sparred with Apple over its desire to get its xCloud cloud gaming platform onto the iPhone via a native app. Apple has pushed back, hampering Microsoft’s cloud gaming ambitions and forcing it to make users rely on a browser-style app.\nThat led Microsoft to meet and lodge a complaint with members of the House Antitrust Subcommittee during the body’s investigation into Apple, Google, Amazon, and Facebook.\nMicrosoft has debuted the latest version of its Windows operating system: Windows 11. (Image: Microsoft)Microsoft\nMicrosoft also took aim at Apple in the iPhone maker’s battle with “Fortnite” developer Epic Games. In that instance, Microsoft filed a statement of support for Epic in its fight to prevent Apple withholding iOS support for Epic’s Unreal Engine.\nEpic initially sued Apple and Google after the two companies removed “Fornite” from their respective app stores. Apple and Google argue that Epic implemented an update that added a separate payment system allowing consumers to circumvent Apple or Google’s payment services. That effectively cut out Apple and Google’s 30% app store fees.\nEpic’s fight with Apple wrapped up earlier this month and a ruling is expected before the end of the summer.\nMicrosoft could win over developers\nWith its decision to allow developers to use their own payment systems, Microsoft is sending a signal to the global developer community that it is willing to play by their rules. That could help the company as it seeks to build out its app store and drive more business for Windows.\nWhile Microsoft was caught flat-footed in the smartphone wars, its moves with the Windows 11 Microsoft Store could give it the kind of boost from developers that it needs to begin taking market share from Apple and Google in the fight for app store supremacy. It’s now up to Apple and Google to respond.","news_type":1},"isVote":1,"tweetType":1,"viewCount":167,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}