nailclipper personal page - To The Moon

nailclipper

nailclipper

No personal profile

3Follow

2Followers

0Topic

0Badge

2021-07-24

$UEX Corp.(UEXCF)$gg

2021-06-30

bullish

2021-06-30

$UEX Corp.(UEXCF)$wiw

2021-06-29

https://www.tigerbrokers.com.sg/activity/market/2021/7th-anniversary/*K86S6V-index.html?feature=Banner&Page=Me&lang=en_US&skin=1&edition=fundamental&invite=K86S6V

Sorry, the original content has been removed

2021-06-29

wa

Sorry, the original content has been removed

2021-06-29

wa

Sorry, the original content has been removed

2021-06-29

wa

Sorry, the original content has been removed

2021-06-29

wa

3 Stocks That Could Make You Much Richer Over the Long Run Than AMC Will

2021-06-29

waah

Meme stocks are blazing hot, once again.

2021-06-29

woah

CVRx Pursues $100 Million U.S. IPO Plan

2021-06-29

moo

Sorry, the original content has been removed

2021-06-29

waaa

Tech stock rally sends S&P and Nasdaq to record highs

2021-06-28

woawlawoa

Bitcoin to become legal tender in El Salvador on Sept 7

2021-06-28

owowowowwo

FedEx is falling despite beating earnings expectations; UPS drops too

2021-06-28

woawwwaaaa

Panasonic sells Tesla stake for $3.6 billion, may use cash for strategic investments

2021-06-28

niceeeeeeeeeeeeeeeeeeeeeeeeeee gggggggggggggggggggggggggggggggggggggggytggggggg

Fearing predators, Credit Suisse seeks new look or even merger - sources

2021-06-28

wa

It Always Ends The Same Way: Crisis, Crash, Collapse

2021-06-28

wa

All 23 US Banks Easily Pass Fed's Stress Test, Setting Stage For Billions In Buybacks

Go to Tiger App to see more news

{"i18n":{"language":"en_US"},"userPageInfo":{"id":"3583800505467680","uuid":"3583800505467680","gmtCreate":1620706611201,"gmtModify":1624847373803,"name":"nailclipper","pinyin":"nailclipper","introduction":"","introductionEn":null,"signature":"","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":2,"headSize":3,"tweetSize":18,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":1,"name":"萌萌虎","nameTw":"萌萌虎","represent":"呱呱坠地","factor":"评论帖子3次或发布1条主帖（非转发）","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":"success","userBadges":[{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.02.06","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":2,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":2,"crmLevelSwitch":0,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":174641708,"gmtCreate":1627097454104,"gmtModify":1703484221912,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/UEXCF\">$UEX Corp.(UEXCF)$</a>gg","listText":"<a href=\"https://laohu8.com/S/UEXCF\">$UEX Corp.(UEXCF)$</a>gg","text":"$UEX Corp.(UEXCF)$gg","images":[{"img":"https://static.tigerbbs.com/11c94098dca042253950fa7972fcb17a","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/174641708","isVote":1,"tweetType":1,"viewCount":246,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":151087291,"gmtCreate":1625058134813,"gmtModify":1703735019086,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"bullish","listText":"bullish","text":"bullish","images":[{"img":"https://static.tigerbbs.com/c4b4a548c1b0231df82220d7e791baf8","width":"1080","height":"2872"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/151087291","isVote":1,"tweetType":1,"viewCount":307,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":151084700,"gmtCreate":1625058107400,"gmtModify":1703735017934,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/UEXCF\">$UEX Corp.(UEXCF)$</a>wiw","listText":"<a href=\"https://laohu8.com/S/UEXCF\">$UEX Corp.(UEXCF)$</a>wiw","text":"$UEX Corp.(UEXCF)$wiw","images":[{"img":"https://static.tigerbbs.com/087a0f7bbf32e98d3a18b6db4d99e19b","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/151084700","isVote":1,"tweetType":1,"viewCount":236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":159924855,"gmtCreate":1624937433977,"gmtModify":1703848378187,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"https://www.tigerbrokers.com.sg/activity/market/2021/7th-anniversary/*K86S6V-index.html?feature=Banner&amp;Page=Me&amp;lang=en_US&amp;skin=1&amp;edition=fundamental&amp;invite=K86S6V","listText":"https://www.tigerbrokers.com.sg/activity/market/2021/7th-anniversary/*K86S6V-index.html?feature=Banner&amp;Page=Me&amp;lang=en_US&amp;skin=1&amp;edition=fundamental&amp;invite=K86S6V","text":"https://www.tigerbrokers.com.sg/activity/market/2021/7th-anniversary/*K86S6V-index.html?feature=Banner&Page=Me&lang=en_US&skin=1&edition=fundamental&invite=K86S6V","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159924855","repostId":"1101350966","repostType":4,"isVote":1,"tweetType":1,"viewCount":339,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159928987,"gmtCreate":1624937167049,"gmtModify":1703848372948,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159928987","repostId":"2146900754","repostType":4,"isVote":1,"tweetType":1,"viewCount":299,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159928058,"gmtCreate":1624937150274,"gmtModify":1703848372624,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159928058","repostId":"1164912248","repostType":4,"isVote":1,"tweetType":1,"viewCount":516,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159921680,"gmtCreate":1624937136140,"gmtModify":1703848371815,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159921680","repostId":"2146877158","repostType":4,"isVote":1,"tweetType":1,"viewCount":290,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159921037,"gmtCreate":1624937122629,"gmtModify":1703848370839,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159921037","repostId":"2146983887","repostType":4,"repost":{"id":"2146983887","kind":"highlight","pubTimestamp":1624886639,"share":"https://ttm.financial/m/news/2146983887?lang=&edition=fundamental","pubTime":"2021-06-28 21:23","market":"us","language":"en","title":"3 Stocks That Could Make You Much Richer Over the Long Run Than AMC Will","url":"https://stock-news.laohu8.com/highlight/detail?id=2146983887","media":"Motley Fool","summary":"No, they won't deliver the returns going forward that AMC has so far this year. But neither will AMC.","content":"<p>If you'd invested $10,000 in&nbsp;<b>AMC Entertainment</b> (NYSE:AMC) roughly six months ago, you'd have more than $250,000 right now. That's a staggering return that any investor would love to make.</p>\n<p>However, there's something important to consider before buying AMC stock right now: Investing is focused on the future, not the past. Shares of the movie theater chain aren't going to generate those kinds of gains going forward. If they did, AMC would soon be more than three times bigger than <b>Apple</b>. That's extremely unlikely, to say the least.</p>\n<p>Still, it's possible that AMC will continue performing well (albeit not anywhere near its recent levels) over the next year or two as moviegoers return to theaters. The stock has made some investors quite wealthy over the last few months. But here are three stocks that could make you much richer over the long term than AMC will.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9cf5e28ce06825d2bfd9ebed7c7a4d8f\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Etsy</h2>\n<p><b>Etsy</b>'s (NASDAQ:ETSY) market cap of $23 billion is well below AMC's market cap of close to $29 billion. I'd argue that the popular e-commerce company has a much greater long-term opportunity than AMC does, though.</p>\n<p>First of all, Etsy practically owns the niche online market in personalized handcrafted goods. Others have attempted to beat the company on its own turf but have failed. There are still significant growth opportunities in this $250 billion annual market.</p>\n<p>However, the pandemic showed Etsy more than ever that it can compete in a larger arena. The company now thinks that its total addressable market is close to $1.7 trillion.</p>\n<p>One way that Etsy is going after this expanded market is through acquisitions. Most recently, the company announced plans to acquire Depop for $1.6 billion, a move that vaults Etsy into the clothing resale business.</p>\n<p>I think that Etsy is a stock that could be a 10-bagger over the long run. The odds of AMC having that level of gains going forward are slim.</p>\n<h2>Innovative Industrial Properties</h2>\n<p>Speaking of big market opportunities, the U.S. medical cannabis market is growing by leaps and bounds. So far, 36 states have legalized medical cannabis.&nbsp;<b>Innovative Industrial Properties</b> (NYSE:IIPR) stands out as a key beneficiary from this growth.</p>\n<p>The company is the leading real estate investment trust (REIT) focused on the medical cannabis industry. IIP's forte is sale-leaseback transactions. In these deals, the REIT buys properties from cannabis operators. The operators then lease the properties back with a long-term lease agreement.</p>\n<p>Over the last three years, IIP's revenue has soared 1,300%. Its profits have skyrocketed more than 2,200%. Investors have also made even more money from the company's dividends.</p>\n<p>IIP currently owns 72 properties in 18 states. It should be able to continue growing briskly by making more sale-leaseback deals in those states (which include several of the biggest medical cannabis markets in the U.S.) as well as expanding into additional states.</p>\n<h2>Intuitive Surgical</h2>\n<p>I recently wrote about my top stock to buy in June. My pick was robotic surgical systems pioneer <b>Intuitive Surgical</b> (NASDAQ:ISRG).</p>\n<p>Like AMC, Intuitive Surgical is a reopening play. Just as the COVID-19 pandemic shut down theaters, it also significantly impacted the volumes of non-emergency surgical procedures. Intuitive generates most of its revenue from selling replacement instruments and accessories for its da Vinci robotic surgical systems. Lower numbers of procedures meant lower revenue for the company.</p>\n<p>Prior to the pandemic, the number of movie tickets sold was declining. That's a not-so-great trend for AMC that could rear its ugly head again after a rebound in 2021 and 2022. Intuitive's procedure volume, though, has risen steadily for quite a while. Even with the pandemic, procedures still increased 1% year over year in 2020.</p>\n<p>Intuitive's long-term prospects are the main reason why I like this stock, though. The company has a huge growth opportunity targeting the procedures where it already has regulatory clearances. Even better, Intuitive thinks that it can more than triple its current addressable market by launching new products and securing additional regulatory clearances.</p>\n<p>Sure, Intuitive Surgical is already a big company with a market cap of over $100 billion. I think that it will be able to become a much larger company over the next decade and make investors who buy and hold the stock a lot of money.</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>3 Stocks That Could Make You Much Richer Over the Long Run Than AMC Will</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Stocks That Could Make You Much Richer Over the Long Run Than AMC Will\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 21:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/28/3-stocks-make-you-richer-long-term-than-amc/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you'd invested $10,000 in AMC Entertainment (NYSE:AMC) roughly six months ago, you'd have more than $250,000 right now. That's a staggering return that any investor would love to make.\nHowever, ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/28/3-stocks-make-you-richer-long-term-than-amc/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ETSY":"Etsy, Inc.","IIPR":"Innovative Industrial Properties Inc","ISRG":"直觉外科公司"},"source_url":"https://www.fool.com/investing/2021/06/28/3-stocks-make-you-richer-long-term-than-amc/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146983887","content_text":"If you'd invested $10,000 in AMC Entertainment (NYSE:AMC) roughly six months ago, you'd have more than $250,000 right now. That's a staggering return that any investor would love to make.\nHowever, there's something important to consider before buying AMC stock right now: Investing is focused on the future, not the past. Shares of the movie theater chain aren't going to generate those kinds of gains going forward. If they did, AMC would soon be more than three times bigger than Apple. That's extremely unlikely, to say the least.\nStill, it's possible that AMC will continue performing well (albeit not anywhere near its recent levels) over the next year or two as moviegoers return to theaters. The stock has made some investors quite wealthy over the last few months. But here are three stocks that could make you much richer over the long term than AMC will.\nImage source: Getty Images.\nEtsy\nEtsy's (NASDAQ:ETSY) market cap of $23 billion is well below AMC's market cap of close to $29 billion. I'd argue that the popular e-commerce company has a much greater long-term opportunity than AMC does, though.\nFirst of all, Etsy practically owns the niche online market in personalized handcrafted goods. Others have attempted to beat the company on its own turf but have failed. There are still significant growth opportunities in this $250 billion annual market.\nHowever, the pandemic showed Etsy more than ever that it can compete in a larger arena. The company now thinks that its total addressable market is close to $1.7 trillion.\nOne way that Etsy is going after this expanded market is through acquisitions. Most recently, the company announced plans to acquire Depop for $1.6 billion, a move that vaults Etsy into the clothing resale business.\nI think that Etsy is a stock that could be a 10-bagger over the long run. The odds of AMC having that level of gains going forward are slim.\nInnovative Industrial Properties\nSpeaking of big market opportunities, the U.S. medical cannabis market is growing by leaps and bounds. So far, 36 states have legalized medical cannabis. Innovative Industrial Properties (NYSE:IIPR) stands out as a key beneficiary from this growth.\nThe company is the leading real estate investment trust (REIT) focused on the medical cannabis industry. IIP's forte is sale-leaseback transactions. In these deals, the REIT buys properties from cannabis operators. The operators then lease the properties back with a long-term lease agreement.\nOver the last three years, IIP's revenue has soared 1,300%. Its profits have skyrocketed more than 2,200%. Investors have also made even more money from the company's dividends.\nIIP currently owns 72 properties in 18 states. It should be able to continue growing briskly by making more sale-leaseback deals in those states (which include several of the biggest medical cannabis markets in the U.S.) as well as expanding into additional states.\nIntuitive Surgical\nI recently wrote about my top stock to buy in June. My pick was robotic surgical systems pioneer Intuitive Surgical (NASDAQ:ISRG).\nLike AMC, Intuitive Surgical is a reopening play. Just as the COVID-19 pandemic shut down theaters, it also significantly impacted the volumes of non-emergency surgical procedures. Intuitive generates most of its revenue from selling replacement instruments and accessories for its da Vinci robotic surgical systems. Lower numbers of procedures meant lower revenue for the company.\nPrior to the pandemic, the number of movie tickets sold was declining. That's a not-so-great trend for AMC that could rear its ugly head again after a rebound in 2021 and 2022. Intuitive's procedure volume, though, has risen steadily for quite a while. Even with the pandemic, procedures still increased 1% year over year in 2020.\nIntuitive's long-term prospects are the main reason why I like this stock, though. The company has a huge growth opportunity targeting the procedures where it already has regulatory clearances. Even better, Intuitive thinks that it can more than triple its current addressable market by launching new products and securing additional regulatory clearances.\nSure, Intuitive Surgical is already a big company with a market cap of over $100 billion. I think that it will be able to become a much larger company over the next decade and make investors who buy and hold the stock a lot of money.","news_type":1},"isVote":1,"tweetType":1,"viewCount":236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159923558,"gmtCreate":1624937111474,"gmtModify":1703848370678,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"waah","listText":"waah","text":"waah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159923558","repostId":"1148481357","repostType":4,"repost":{"id":"1148481357","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":1624888651,"share":"https://ttm.financial/m/news/1148481357?lang=&edition=fundamental","pubTime":"2021-06-28 21:57","market":"us","language":"en","title":"Meme stocks are blazing hot, once again.","url":"https://stock-news.laohu8.com/highlight/detail?id=1148481357","media":"Tiger Newspress","summary":"Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath & Beyond climbed be","content":"<p>Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath &amp; Beyond climbed between 5% and 7%.</p>\n<p><img src=\"https://static.tigerbbs.com/fb2694f87fdac29278fbf2a583a1bf36\" tg-width=\"390\" tg-height=\"743\" referrerpolicy=\"no-referrer\"></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>Meme stocks are blazing hot, once again.</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\">\nMeme stocks are blazing hot, once again.\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\">2021-06-28 21:57</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath &amp; Beyond climbed between 5% and 7%.</p>\n<p><img src=\"https://static.tigerbbs.com/fb2694f87fdac29278fbf2a583a1bf36\" tg-width=\"390\" tg-height=\"743\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WKHS":"Workhorse Group, Inc.","GME":"游戏驿站","BBBY":"3B家居","AMC":"AMC院线"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148481357","content_text":"Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath & Beyond climbed between 5% and 7%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":300,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159929542,"gmtCreate":1624937039786,"gmtModify":1703848368893,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"woah","listText":"woah","text":"woah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/159929542","repostId":"1124906464","repostType":4,"repost":{"id":"1124906464","kind":"news","pubTimestamp":1624936236,"share":"https://ttm.financial/m/news/1124906464?lang=&edition=fundamental","pubTime":"2021-06-29 11:10","market":"us","language":"en","title":"CVRx Pursues $100 Million U.S. IPO Plan","url":"https://stock-news.laohu8.com/highlight/detail?id=1124906464","media":"seekingalpha","summary":"Summary\n\nCVRx has filed to raise $100 million in a U.S. IPO of its common stock.\nThe firm is commerc","content":"<p>Summary</p>\n<ul>\n <li>CVRx has filed to raise $100 million in a U.S. IPO of its common stock.</li>\n <li>The firm is commercializing a neuromodulation device for treating a certain type of heart failure condition.</li>\n <li>CVRX has rebounded from the negative effects of the COVID-19 pandemic but the IPO appears pricey, so I'll watch it from the sidelines.</li>\n <li>Looking for more investing ideas like this one? Get them exclusively at IPO Edge.</li>\n</ul>\n<p>CVRx (CVRX) has filed to raise $100 million in an IPO of its common stock, according to an S-1/Aregistration statement.</p>\n<p>The firm is commercializing a neurostimulation device to treat patients with systolic Heart failure symptoms.</p>\n<p>CVRX was negatively affected by the COVID-19 pandemic but has rebounded.</p>\n<p>However, the IPO appears pricey, so I'll watch it from the sidelines.</p>\n<p><b>Company and Technology</b></p>\n<p>Minneapolis, Minnesota-based CVRx was founded to develop its BAROSTIM device that sends persistent electrical pulses tobaroreceptors inside the wall of the carotid artery as a signal to the brain to modulate cardiovascular function.</p>\n<p>Management is headed by president and CEO NadimYaredwho has been with the firm since 2006 and was previously vice president and general manager of Medtronic Navigation.</p>\n<p>CVRx has received at least $330 million in equity investment from investors including Johnson &amp; Johnson, New Enterprise Associates, Cooperative Glide Healthcare, Vensana Capital, Action Potential Venture Capital and Treo Ventures.</p>\n<p><b>Customer Acquisition and Market</b></p>\n<p>The firm sells its BAROSTIM NEO to hospitals through its direct sales organizations in the U.S. and Germany and through distributors in other European countries.</p>\n<p>The firm saw a reduction in demand in 2020 due to the restriction of hospital access to patients with relevant conditions.</p>\n<p>Selling, G&amp;A expenses as a percentage of total revenue have risen as revenues have fluctuated, as the figures below indicate:</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Selling, G&amp;A</b></p></td>\n   <td><p><b>Expenses vs. Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Percentage</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>155.9%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>160.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>97.6%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p>The Selling, G&amp;A efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling, G&amp;A spend, rose to 0.3x in the most recent reporting period, as shown in the table below:</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Selling, G&amp;A</b></p></td>\n   <td><p><b>Efficiency Rate</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Multiple</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>0.3</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>0.0</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p>According to a 2016 marketresearch reportby Allied Market Research, the global market for neuromodulation is expected to reach $11.7 billion by 2022.</p>\n<p>This represents a forecast CAGR of 13.1% from 2016 to 2022.</p>\n<p>The main drivers for this expected growth are a growing geriatric population and a resulting increase in neurological disorders.</p>\n<p>Also, an increase in Alzheimer's and Parkinson's disease conditions also will likely add to demand.</p>\n<p><b>Financial Performance</b></p>\n<p>CVRx’s recent financial results can be summarized as follows:</p>\n<ul>\n <li><p>Rebounding topline revenue growth</p></li>\n <li><p>Increasing gross profit but uneven gross margin</p></li>\n <li><p>Growing operating losses</p></li>\n <li><p>Increasing cash used in operations</p></li>\n</ul>\n<p>Below are relevant financial results derived from the firm’s registration statement:</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Total Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Total Revenue</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>$ 2,860,000</p></td>\n   <td><p>66.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 6,053,000</p></td>\n   <td><p>-3.3%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 6,257,000</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Gross Profit (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Gross Profit (Loss)</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>$ 1,993,000</p></td>\n   <td><p>55.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 4,613,000</p></td>\n   <td><p>0.9%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 4,574,000</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Gross Margin</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Gross Margin</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>69.69%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>76.21%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>73.10%</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Operating Profit (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Operating Profit (Loss)</p></td>\n   <td><p>Operating Margin</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>$ (4,217,000)</p></td>\n   <td><p>-147.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (11,514,000)</p></td>\n   <td><p>-190.2%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (10,194,000)</p></td>\n   <td><p>-162.9%</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Net Income (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Net Income (Loss)</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>$ (8,627,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (14,109,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (14,633,000)</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Cash Flow From Operations</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Cash Flow From Operations</p></td>\n  </tr>\n  <tr>\n   <td><p>Three Mos. Ended March 31, 2021</p></td>\n   <td><p>$ (5,038,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (16,096,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (12,785,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p>As of March 31, 2021, CVRx had $54 million in cash and $32.1 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended March 31, 2021, was negative ($16.9 million).</p>\n<p><b>IPO Details</b></p>\n<p>CVRx intends to raise $100 million in gross proceeds from an IPO of its common stock, offering 6.25 million shares at a proposed midpoint price of $16.00 per share.</p>\n<p>No existing shareholders have indicated an interest to purchase shares at the IPO price.</p>\n<p>Assuming a successful IPO, the company’s enterprise value at IPO would approximate $170.6 million, excluding the effects of underwriter over-allotment options.</p>\n<p>Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 33.7%. A figure under 10% is generally considered a ‘low float’ stock which can be subject to significant price volatility.</p>\n<p>Management says it will use the net proceeds from the IPO as follows:</p>\n<blockquote>\n Approximately $75.0 million to continue funding the expansion of our direct sales force and commercial organization related to BAROSTIM NEO in the U.S.;Approximately $12.0 million to fund research and development activities related to BAROSTIM Therapy; andThe remainder for working capital and general corporate purposes. (Source)\n</blockquote>\n<p>Management’s presentation of the company roadshow isavailable here.</p>\n<p>Listed bookrunners of the IPO are JPMorgan, Piper Sandler, William Blair and Canaccord Genuity.</p>\n<p><b>Valuation Metrics</b></p>\n<p>Below is a table of relevant capitalization and valuation figures for the company:</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Measure [TTM]</b></p></td>\n   <td><p><b>Amount</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Market Capitalization at IPO</p></td>\n   <td><p>$296,717,728</p></td>\n  </tr>\n  <tr>\n   <td><p>Enterprise Value</p></td>\n   <td><p>$170,592,728</p></td>\n  </tr>\n  <tr>\n   <td><p>Price / Sales</p></td>\n   <td><p>41.24</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>23.71</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>-13.70</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>-$0.97</p></td>\n  </tr>\n  <tr>\n   <td><p>Float To Outstanding Shares Ratio</p></td>\n   <td><p>33.70%</p></td>\n  </tr>\n  <tr>\n   <td><p>Proposed IPO Midpoint Price per Share</p></td>\n   <td><p>$16.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Net Free Cash Flow</p></td>\n   <td><p>-$16,946,000</p></td>\n  </tr>\n  <tr>\n   <td><p>Free Cash Flow Yield Per Share</p></td>\n   <td><p>-5.71%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>66.47%</p></td>\n  </tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p><b>Commentary</b></p>\n<p>CVRx is seeking public investment capital for its continued commercialization efforts.</p>\n<p>The company’s financials show the negative effects of the COVID-19 pandemic on its revenue trajectory in 2020 as hospitals cut back on patient access to its products.</p>\n<p>Revenue growth and gross profit appears to have rebounded significantly in Q1 2021, although some of this growth may represent pent-up demand and may not necessarily be representative of a more sustainable growth path going forward.</p>\n<p>Free cash flow for the twelve months ended March 31, 2021, was negative ($16.9 million).</p>\n<p>Selling, G&amp;A expenses as a percentage of total revenue grew sharply in 2020 as revenue growth stalled during that period; its Selling, G&amp;A efficiency rate has since increased to 0.3x in Q1 2021.</p>\n<p>The market opportunity for providing neuromodulation approaches to heart failure are significant and the firm appears well positioned to take advantage of a growing elderly patient population as the U.S. geriatric population grows substantially over the coming years.</p>\n<p>JPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 36.8% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p>\n<p>The primary risk to the company’s outlook is the reimbursement process and penetration, both within the U.S. and internationally, which varies greatly from region to region.</p>\n<p>As for valuation, management is asking investors to pay an EV/revenue multiple of 23.7x, which appears to be priced for perfection, especially so soon after its sales were negatively affected by the pandemic.</p>\n<p>While CVRx will likely have an impressive growth year in 2021, paying nearly 24x trailing EV/revenue and 41x on a price/sales multiple is excessive in my view.</p>\n<p>Expected IPO Pricing Date: June 29, 2021</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CVRx Pursues $100 Million U.S. IPO Plan</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\">\nCVRx Pursues $100 Million U.S. IPO Plan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-29 11:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4436978-cvrx-pursues-100-million-us-ipo-plan><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nCVRx has filed to raise $100 million in a U.S. IPO of its common stock.\nThe firm is commercializing a neuromodulation device for treating a certain type of heart failure condition.\nCVRX has ...</p>\n\n<a href=\"https://seekingalpha.com/article/4436978-cvrx-pursues-100-million-us-ipo-plan\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CVRX":"CVRx, Inc."},"source_url":"https://seekingalpha.com/article/4436978-cvrx-pursues-100-million-us-ipo-plan","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1124906464","content_text":"Summary\n\nCVRx has filed to raise $100 million in a U.S. IPO of its common stock.\nThe firm is commercializing a neuromodulation device for treating a certain type of heart failure condition.\nCVRX has rebounded from the negative effects of the COVID-19 pandemic but the IPO appears pricey, so I'll watch it from the sidelines.\nLooking for more investing ideas like this one? Get them exclusively at IPO Edge.\n\nCVRx (CVRX) has filed to raise $100 million in an IPO of its common stock, according to an S-1/Aregistration statement.\nThe firm is commercializing a neurostimulation device to treat patients with systolic Heart failure symptoms.\nCVRX was negatively affected by the COVID-19 pandemic but has rebounded.\nHowever, the IPO appears pricey, so I'll watch it from the sidelines.\nCompany and Technology\nMinneapolis, Minnesota-based CVRx was founded to develop its BAROSTIM device that sends persistent electrical pulses tobaroreceptors inside the wall of the carotid artery as a signal to the brain to modulate cardiovascular function.\nManagement is headed by president and CEO NadimYaredwho has been with the firm since 2006 and was previously vice president and general manager of Medtronic Navigation.\nCVRx has received at least $330 million in equity investment from investors including Johnson & Johnson, New Enterprise Associates, Cooperative Glide Healthcare, Vensana Capital, Action Potential Venture Capital and Treo Ventures.\nCustomer Acquisition and Market\nThe firm sells its BAROSTIM NEO to hospitals through its direct sales organizations in the U.S. and Germany and through distributors in other European countries.\nThe firm saw a reduction in demand in 2020 due to the restriction of hospital access to patients with relevant conditions.\nSelling, G&A expenses as a percentage of total revenue have risen as revenues have fluctuated, as the figures below indicate:\n\n\n\nSelling, G&A\nExpenses vs. Revenue\n\n\nPeriod\nPercentage\n\n\nThree Mos. Ended March 31, 2021\n155.9%\n\n\n2020\n160.5%\n\n\n2019\n97.6%\n\n\n\n(Source)\nThe Selling, G&A efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling, G&A spend, rose to 0.3x in the most recent reporting period, as shown in the table below:\n\n\n\nSelling, G&A\nEfficiency Rate\n\n\nPeriod\nMultiple\n\n\nThree Mos. Ended March 31, 2021\n0.3\n\n\n2020\n0.0\n\n\n\n(Source)\nAccording to a 2016 marketresearch reportby Allied Market Research, the global market for neuromodulation is expected to reach $11.7 billion by 2022.\nThis represents a forecast CAGR of 13.1% from 2016 to 2022.\nThe main drivers for this expected growth are a growing geriatric population and a resulting increase in neurological disorders.\nAlso, an increase in Alzheimer's and Parkinson's disease conditions also will likely add to demand.\nFinancial Performance\nCVRx’s recent financial results can be summarized as follows:\n\nRebounding topline revenue growth\nIncreasing gross profit but uneven gross margin\nGrowing operating losses\nIncreasing cash used in operations\n\nBelow are relevant financial results derived from the firm’s registration statement:\n\n\n\nTotal Revenue\n\n\nPeriod\nTotal Revenue\n% Variance vs. Prior\n\n\nThree Mos. Ended March 31, 2021\n$ 2,860,000\n66.5%\n\n\n2020\n$ 6,053,000\n-3.3%\n\n\n2019\n$ 6,257,000\n\n\nGross Profit (Loss)\n\n\nPeriod\nGross Profit (Loss)\n% Variance vs. Prior\n\n\nThree Mos. Ended March 31, 2021\n$ 1,993,000\n55.0%\n\n\n2020\n$ 4,613,000\n0.9%\n\n\n2019\n$ 4,574,000\n\n\nGross Margin\n\n\nPeriod\nGross Margin\n\n\nThree Mos. Ended March 31, 2021\n69.69%\n\n\n2020\n76.21%\n\n\n2019\n73.10%\n\n\nOperating Profit (Loss)\n\n\nPeriod\nOperating Profit (Loss)\nOperating Margin\n\n\nThree Mos. Ended March 31, 2021\n$ (4,217,000)\n-147.4%\n\n\n2020\n$ (11,514,000)\n-190.2%\n\n\n2019\n$ (10,194,000)\n-162.9%\n\n\nNet Income (Loss)\n\n\nPeriod\nNet Income (Loss)\n\n\nThree Mos. Ended March 31, 2021\n$ (8,627,000)\n\n\n2020\n$ (14,109,000)\n\n\n2019\n$ (14,633,000)\n\n\nCash Flow From Operations\n\n\nPeriod\nCash Flow From Operations\n\n\nThree Mos. Ended March 31, 2021\n$ (5,038,000)\n\n\n2020\n$ (16,096,000)\n\n\n2019\n$ (12,785,000)\n\n\n(Glossary Of Terms)\n\n\n\n(Source)\nAs of March 31, 2021, CVRx had $54 million in cash and $32.1 million in total liabilities.\nFree cash flow during the twelve months ended March 31, 2021, was negative ($16.9 million).\nIPO Details\nCVRx intends to raise $100 million in gross proceeds from an IPO of its common stock, offering 6.25 million shares at a proposed midpoint price of $16.00 per share.\nNo existing shareholders have indicated an interest to purchase shares at the IPO price.\nAssuming a successful IPO, the company’s enterprise value at IPO would approximate $170.6 million, excluding the effects of underwriter over-allotment options.\nExcluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 33.7%. A figure under 10% is generally considered a ‘low float’ stock which can be subject to significant price volatility.\nManagement says it will use the net proceeds from the IPO as follows:\n\n Approximately $75.0 million to continue funding the expansion of our direct sales force and commercial organization related to BAROSTIM NEO in the U.S.;Approximately $12.0 million to fund research and development activities related to BAROSTIM Therapy; andThe remainder for working capital and general corporate purposes. (Source)\n\nManagement’s presentation of the company roadshow isavailable here.\nListed bookrunners of the IPO are JPMorgan, Piper Sandler, William Blair and Canaccord Genuity.\nValuation Metrics\nBelow is a table of relevant capitalization and valuation figures for the company:\n\n\n\nMeasure [TTM]\nAmount\n\n\nMarket Capitalization at IPO\n$296,717,728\n\n\nEnterprise Value\n$170,592,728\n\n\nPrice / Sales\n41.24\n\n\nEV / Revenue\n23.71\n\n\nEV / EBITDA\n-13.70\n\n\nEarnings Per Share\n-$0.97\n\n\nFloat To Outstanding Shares Ratio\n33.70%\n\n\nProposed IPO Midpoint Price per Share\n$16.00\n\n\nNet Free Cash Flow\n-$16,946,000\n\n\nFree Cash Flow Yield Per Share\n-5.71%\n\n\nRevenue Growth Rate\n66.47%\n\n\n(Glossary Of Terms)\n\n\n\n(Source)\nCommentary\nCVRx is seeking public investment capital for its continued commercialization efforts.\nThe company’s financials show the negative effects of the COVID-19 pandemic on its revenue trajectory in 2020 as hospitals cut back on patient access to its products.\nRevenue growth and gross profit appears to have rebounded significantly in Q1 2021, although some of this growth may represent pent-up demand and may not necessarily be representative of a more sustainable growth path going forward.\nFree cash flow for the twelve months ended March 31, 2021, was negative ($16.9 million).\nSelling, G&A expenses as a percentage of total revenue grew sharply in 2020 as revenue growth stalled during that period; its Selling, G&A efficiency rate has since increased to 0.3x in Q1 2021.\nThe market opportunity for providing neuromodulation approaches to heart failure are significant and the firm appears well positioned to take advantage of a growing elderly patient population as the U.S. geriatric population grows substantially over the coming years.\nJPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 36.8% since their IPO. This is a mid-tier performance for all major underwriters during the period.\nThe primary risk to the company’s outlook is the reimbursement process and penetration, both within the U.S. and internationally, which varies greatly from region to region.\nAs for valuation, management is asking investors to pay an EV/revenue multiple of 23.7x, which appears to be priced for perfection, especially so soon after its sales were negatively affected by the pandemic.\nWhile CVRx will likely have an impressive growth year in 2021, paying nearly 24x trailing EV/revenue and 41x on a price/sales multiple is excessive in my view.\nExpected IPO Pricing Date: June 29, 2021","news_type":1},"isVote":1,"tweetType":1,"viewCount":451,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159916868,"gmtCreate":1624935467154,"gmtModify":1703848331650,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"moo","listText":"moo","text":"moo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159916868","repostId":"2146025230","repostType":4,"isVote":1,"tweetType":1,"viewCount":219,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159910544,"gmtCreate":1624935184388,"gmtModify":1703848325817,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"waaa","listText":"waaa","text":"waaa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159910544","repostId":"2147837316","repostType":4,"repost":{"id":"2147837316","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":1624921533,"share":"https://ttm.financial/m/news/2147837316?lang=&edition=fundamental","pubTime":"2021-06-29 07:05","market":"us","language":"en","title":"Tech stock rally sends S&P and Nasdaq to record highs","url":"https://stock-news.laohu8.com/highlight/detail?id=2147837316","media":"Reuters","summary":" - The Nasdaq and S&P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&P 500 and the Nasdaq.The S&P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.In contrast, cycl","content":"<p>(Reuters) - The Nasdaq and S&amp;P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.</p>\n<p>Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&amp;P 500 and the Nasdaq.</p>\n<p>The S&amp;P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.</p>\n<p>In contrast, cyclical sectors dropped sharply amid fears over a spike in COVID-19 cases across Asia. Financials and energy posted the biggest sectoral loss on S&amp;P 500, down by 0.81% and 3.33%, respectively.</p>\n<p>“It’s end of the quarter and investors may want to take some profits and rotate out of energy and stick with tech,” said Sam Stovall, chief investment strategist at CFRA Research in New York.</p>\n<p>Stovall expects stocks should continue their near-term climb as investors await the new earnings season, in which year-over-year earnings growth of S&amp;P 500 companies is expected to top 60%.</p>\n<p>The Dow Jones Industrial Average fell 150.57 points, or 0.44%, to close at 34,283.27. The S&amp;P 500 pared earlier losses and advanced from Friday’s record high by gaining 9.91 points, or 0.23%, to 4,290.61. The Nasdaq Composite added 140.12 points, or 0.98%, to 14,500.51.</p>\n<p>Both the S&amp;P 500 and the Nasdaq hit a series of record highs last week. the tech-heavy Nasdaq’s 5% gain in June is outpacing its peers as investors pile back in to tech-oriented growth stocks on diminishing worries about runaway inflation.</p>\n<p>“We believe with the Fed putting a realistic goal post, investors now have much more of a risk-on mentality going into the second half of the year. A lot of these tech names have underperformed, while fundamentals were very robust going into the June quarter,” said Wedbush Securities analyst Daniel Ives, who expects the Nasdaq to hit 16,000 by year-end.</p>\n<p>Facebook jumped over 4% as a U.S. judge granted the company’s motion to dismiss a Federal Trade Commission lawsuit. The social media giant finished Monday with over $1 trillion in market capitalization.</p>\n<p>On the Nasdaq 100, the largest gainer was Nvidia Corp, which rose 5.0% after major chip makers Broadcom Inc, Marvell and Taiwan-based MediaTek endorsed its $40 billion deal to buy UK chip designer Arm.</p>\n<p>With the S&amp;P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.</p>\n<p>On the economic front, investor attention will be focused on consumer confidence data, a private jobs report and a crucial monthly employment report due later this week. Quarterly results from Micron Technology Inc and Walgreens Boots Alliance are also slated for this week.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 100 new highs and 31 new lows.</p>\n<p>Volume on U.S. exchanges was 9.55 billion shares, compared with the 11.17 billion average for the full session 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>Tech stock rally sends S&P and Nasdaq to record highs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTech stock rally sends S&P and Nasdaq to record highs\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-29 07:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Reuters) - The Nasdaq and S&amp;P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.</p>\n<p>Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&amp;P 500 and the Nasdaq.</p>\n<p>The S&amp;P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.</p>\n<p>In contrast, cyclical sectors dropped sharply amid fears over a spike in COVID-19 cases across Asia. Financials and energy posted the biggest sectoral loss on S&amp;P 500, down by 0.81% and 3.33%, respectively.</p>\n<p>“It’s end of the quarter and investors may want to take some profits and rotate out of energy and stick with tech,” said Sam Stovall, chief investment strategist at CFRA Research in New York.</p>\n<p>Stovall expects stocks should continue their near-term climb as investors await the new earnings season, in which year-over-year earnings growth of S&amp;P 500 companies is expected to top 60%.</p>\n<p>The Dow Jones Industrial Average fell 150.57 points, or 0.44%, to close at 34,283.27. The S&amp;P 500 pared earlier losses and advanced from Friday’s record high by gaining 9.91 points, or 0.23%, to 4,290.61. The Nasdaq Composite added 140.12 points, or 0.98%, to 14,500.51.</p>\n<p>Both the S&amp;P 500 and the Nasdaq hit a series of record highs last week. the tech-heavy Nasdaq’s 5% gain in June is outpacing its peers as investors pile back in to tech-oriented growth stocks on diminishing worries about runaway inflation.</p>\n<p>“We believe with the Fed putting a realistic goal post, investors now have much more of a risk-on mentality going into the second half of the year. A lot of these tech names have underperformed, while fundamentals were very robust going into the June quarter,” said Wedbush Securities analyst Daniel Ives, who expects the Nasdaq to hit 16,000 by year-end.</p>\n<p>Facebook jumped over 4% as a U.S. judge granted the company’s motion to dismiss a Federal Trade Commission lawsuit. The social media giant finished Monday with over $1 trillion in market capitalization.</p>\n<p>On the Nasdaq 100, the largest gainer was Nvidia Corp, which rose 5.0% after major chip makers Broadcom Inc, Marvell and Taiwan-based MediaTek endorsed its $40 billion deal to buy UK chip designer Arm.</p>\n<p>With the S&amp;P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.</p>\n<p>On the economic front, investor attention will be focused on consumer confidence data, a private jobs report and a crucial monthly employment report due later this week. Quarterly results from Micron Technology Inc and Walgreens Boots Alliance are also slated for this week.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 100 new highs and 31 new lows.</p>\n<p>Volume on U.S. exchanges was 9.55 billion shares, compared with the 11.17 billion average for the full session over the last 20 trading days.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NFLX":"奈飞",".SPX":"S&P 500 Index","SQQQ":"纳指三倍做空ETF","TQQQ":"纳指三倍做多ETF","TWTR":"Twitter","WBA":"沃尔格林联合博姿","QQQ":"纳指100ETF","NDAQ":"纳斯达克OMX交易所",".DJI":"道琼斯","QLD":"纳指两倍做多ETF","NVDA":"英伟达","QID":"纳指两倍做空ETF","MU":"美光科技",".IXIC":"NASDAQ Composite","PSQ":"纳指反向ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2147837316","content_text":"(Reuters) - The Nasdaq and S&P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.\nBig tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&P 500 and the Nasdaq.\nThe S&P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.\nIn contrast, cyclical sectors dropped sharply amid fears over a spike in COVID-19 cases across Asia. Financials and energy posted the biggest sectoral loss on S&P 500, down by 0.81% and 3.33%, respectively.\n“It’s end of the quarter and investors may want to take some profits and rotate out of energy and stick with tech,” said Sam Stovall, chief investment strategist at CFRA Research in New York.\nStovall expects stocks should continue their near-term climb as investors await the new earnings season, in which year-over-year earnings growth of S&P 500 companies is expected to top 60%.\nThe Dow Jones Industrial Average fell 150.57 points, or 0.44%, to close at 34,283.27. The S&P 500 pared earlier losses and advanced from Friday’s record high by gaining 9.91 points, or 0.23%, to 4,290.61. The Nasdaq Composite added 140.12 points, or 0.98%, to 14,500.51.\nBoth the S&P 500 and the Nasdaq hit a series of record highs last week. the tech-heavy Nasdaq’s 5% gain in June is outpacing its peers as investors pile back in to tech-oriented growth stocks on diminishing worries about runaway inflation.\n“We believe with the Fed putting a realistic goal post, investors now have much more of a risk-on mentality going into the second half of the year. A lot of these tech names have underperformed, while fundamentals were very robust going into the June quarter,” said Wedbush Securities analyst Daniel Ives, who expects the Nasdaq to hit 16,000 by year-end.\nFacebook jumped over 4% as a U.S. judge granted the company’s motion to dismiss a Federal Trade Commission lawsuit. The social media giant finished Monday with over $1 trillion in market capitalization.\nOn the Nasdaq 100, the largest gainer was Nvidia Corp, which rose 5.0% after major chip makers Broadcom Inc, Marvell and Taiwan-based MediaTek endorsed its $40 billion deal to buy UK chip designer Arm.\nWith the S&P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.\nOn the economic front, investor attention will be focused on consumer confidence data, a private jobs report and a crucial monthly employment report due later this week. Quarterly results from Micron Technology Inc and Walgreens Boots Alliance are also slated for this week.\nDeclining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored decliners.\nThe S&P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 100 new highs and 31 new lows.\nVolume on U.S. exchanges was 9.55 billion shares, compared with the 11.17 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":129,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127654142,"gmtCreate":1624847625586,"gmtModify":1703846095757,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"woawlawoa","listText":"woawlawoa","text":"woawlawoa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127654142","repostId":"2146021046","repostType":4,"repost":{"id":"2146021046","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":1624589404,"share":"https://ttm.financial/m/news/2146021046?lang=&edition=fundamental","pubTime":"2021-06-25 10:50","market":"fut","language":"en","title":"Bitcoin to become legal tender in El Salvador on Sept 7","url":"https://stock-news.laohu8.com/highlight/detail?id=2146021046","media":"Reuters","summary":"SAN SALVADOR, June 24 (Reuters) - El Salvador's President Nayib Bukele said in a national address on","content":"<p>SAN SALVADOR, June 24 (Reuters) - El Salvador's President Nayib Bukele said in a national address on Thursday that a recently passed law making bitcoin legal tender will take effect on Sept. 7, noting that its use will be optional.</p>\n<p>El Salvador's Congress on June 9 approved Bukele's proposal to embrace the cryptocurrency, making El Salvador the first country in the world to adopt bitcoin as legal tender.</p>\n<p>\"The use of bitcoin will be optional, nobody will receive bitcoin if they don't want it... If someone receives a payment in bitcoin they can choose to automatically receive it in dollars,\" said Bukele.</p>\n<p>Salaries and pensions will continue to be paid in U.S. dollars, said Bukele, without specifying if that included salaries paid to state workers and private sector employees.</p>\n<p>Earlier in the day Athena Bitcoin said it plans to invest over $1 million to install some 1,500 cryptocurrency ATMs in El Salvador, especially where residents receive remittances from abroad.</p>\n<p>According to Athena Bitcoin's website, the ATMs can be used to buy bitcoins or sell them for cash.</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>Bitcoin to become legal tender in El Salvador on Sept 7</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\">\nBitcoin to become legal tender in El Salvador on Sept 7\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-25 10:50</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>SAN SALVADOR, June 24 (Reuters) - El Salvador's President Nayib Bukele said in a national address on Thursday that a recently passed law making bitcoin legal tender will take effect on Sept. 7, noting that its use will be optional.</p>\n<p>El Salvador's Congress on June 9 approved Bukele's proposal to embrace the cryptocurrency, making El Salvador the first country in the world to adopt bitcoin as legal tender.</p>\n<p>\"The use of bitcoin will be optional, nobody will receive bitcoin if they don't want it... If someone receives a payment in bitcoin they can choose to automatically receive it in dollars,\" said Bukele.</p>\n<p>Salaries and pensions will continue to be paid in U.S. dollars, said Bukele, without specifying if that included salaries paid to state workers and private sector employees.</p>\n<p>Earlier in the day Athena Bitcoin said it plans to invest over $1 million to install some 1,500 cryptocurrency ATMs in El Salvador, especially where residents receive remittances from abroad.</p>\n<p>According to Athena Bitcoin's website, the ATMs can be used to buy bitcoins or sell them for cash.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146021046","content_text":"SAN SALVADOR, June 24 (Reuters) - El Salvador's President Nayib Bukele said in a national address on Thursday that a recently passed law making bitcoin legal tender will take effect on Sept. 7, noting that its use will be optional.\nEl Salvador's Congress on June 9 approved Bukele's proposal to embrace the cryptocurrency, making El Salvador the first country in the world to adopt bitcoin as legal tender.\n\"The use of bitcoin will be optional, nobody will receive bitcoin if they don't want it... If someone receives a payment in bitcoin they can choose to automatically receive it in dollars,\" said Bukele.\nSalaries and pensions will continue to be paid in U.S. dollars, said Bukele, without specifying if that included salaries paid to state workers and private sector employees.\nEarlier in the day Athena Bitcoin said it plans to invest over $1 million to install some 1,500 cryptocurrency ATMs in El Salvador, especially where residents receive remittances from abroad.\nAccording to Athena Bitcoin's website, the ATMs can be used to buy bitcoins or sell them for cash.","news_type":1},"isVote":1,"tweetType":1,"viewCount":280,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127655016,"gmtCreate":1624847562935,"gmtModify":1703846094115,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"owowowowwo","listText":"owowowowwo","text":"owowowowwo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127655016","repostId":"1104882070","repostType":4,"repost":{"id":"1104882070","kind":"news","pubTimestamp":1624589020,"share":"https://ttm.financial/m/news/1104882070?lang=&edition=fundamental","pubTime":"2021-06-25 10:43","market":"us","language":"en","title":"FedEx is falling despite beating earnings expectations; UPS drops too","url":"https://stock-news.laohu8.com/highlight/detail?id=1104882070","media":"seekingalpha","summary":"FedEx(NYSE:FDX)trades lower even after FQ4 revenue and profit arrived ahead of expectations. Guidanc","content":"<ul>\n <li>FedEx(NYSE:FDX)trades lower even after&nbsp;FQ4&nbsp;revenue and profit arrived ahead of expectations. Guidance for capital spending of $7.2B this year by the company may be the key pullout of the report.</li>\n <li>Operating income rose 9% Y/Y to $1.97B during the quarter on an adjusted basis and the company reported an operating margin rate of 8.7% vs. 5.2% a year ago and 8.9% consensus. Improved network optimization and asset utilization enabled profit growth even with volume at a record.</li>\n <li>FedEx Ground reported revenue growth of 27% for the quarter. The revenue increase was primarily driven by strong growth in business-to-business shipments and a 14% rise in revenue per package.</li>\n <li>Looking ahead, FedEx sees EPS of $20.50 to $21.50 for the full year vs $20.48 consensus. The profit guidance is before MTM retirement plan accounting adjustments and excludes estimated TNT Express integration expenses and costs associated with business realignment activities. \"We expect continued strong momentum in fiscal 2022, and our investments are focused on the areas of greatest growth and highest returns, like e-commerce, to position us for sustained long-term growth in earnings, cash flows, and returns,\" says CFO Michael Lenz.</li>\n <li>Shares of FedEx aredown 4.04%AH to $291.50.UPSis&nbsp;down 2.25%.</li>\n <li>The FedEx conference call is likely to delve into thenetwork congestion issues the company has seen over the last few weeks.</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>FedEx is falling despite beating earnings expectations; UPS drops too</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFedEx is falling despite beating earnings expectations; UPS drops too\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 10:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3709888-fedex-lower-after-earnings-beat-isnt-decisive-enough-ups-falls-too><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>FedEx(NYSE:FDX)trades lower even after FQ4 revenue and profit arrived ahead of expectations. Guidance for capital spending of $7.2B this year by the company may be the key pullout of the report.\n...</p>\n\n<a href=\"https://seekingalpha.com/news/3709888-fedex-lower-after-earnings-beat-isnt-decisive-enough-ups-falls-too\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FDX":"联邦快递","UPS":"联合包裹"},"source_url":"https://seekingalpha.com/news/3709888-fedex-lower-after-earnings-beat-isnt-decisive-enough-ups-falls-too","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1104882070","content_text":"FedEx(NYSE:FDX)trades lower even after FQ4 revenue and profit arrived ahead of expectations. Guidance for capital spending of $7.2B this year by the company may be the key pullout of the report.\nOperating income rose 9% Y/Y to $1.97B during the quarter on an adjusted basis and the company reported an operating margin rate of 8.7% vs. 5.2% a year ago and 8.9% consensus. Improved network optimization and asset utilization enabled profit growth even with volume at a record.\nFedEx Ground reported revenue growth of 27% for the quarter. The revenue increase was primarily driven by strong growth in business-to-business shipments and a 14% rise in revenue per package.\nLooking ahead, FedEx sees EPS of $20.50 to $21.50 for the full year vs $20.48 consensus. The profit guidance is before MTM retirement plan accounting adjustments and excludes estimated TNT Express integration expenses and costs associated with business realignment activities. \"We expect continued strong momentum in fiscal 2022, and our investments are focused on the areas of greatest growth and highest returns, like e-commerce, to position us for sustained long-term growth in earnings, cash flows, and returns,\" says CFO Michael Lenz.\nShares of FedEx aredown 4.04%AH to $291.50.UPSis down 2.25%.\nThe FedEx conference call is likely to delve into thenetwork congestion issues the company has seen over the last few weeks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":210,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127666628,"gmtCreate":1624846600864,"gmtModify":1703846063045,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"woawwwaaaa","listText":"woawwwaaaa","text":"woawwwaaaa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127666628","repostId":"1180366049","repostType":4,"repost":{"id":"1180366049","kind":"news","pubTimestamp":1624598362,"share":"https://ttm.financial/m/news/1180366049?lang=&edition=fundamental","pubTime":"2021-06-25 13:19","market":"us","language":"en","title":"Panasonic sells Tesla stake for $3.6 billion, may use cash for strategic investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1180366049","media":"Reuters","summary":"TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion","content":"<p>TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion yen ($3.61 billion) in the year ended March, a spokesperson for the Japanese company said on Friday.</p>\n<p>The sale comes as the bicycles-to-hair dryers conglomerate is seeking to reduce its dependence on Tesla and raise cash for investing in growth.</p>\n<p>Panasonic’s battery business is dominated by Elon Musk’s Tesla, but the two firms have had a tense relationship at times with executives trading barbs publicly.</p>\n<p>Panasonic bought 1.4 million Tesla shares at $21.15 each in 2010 for about $30 million. That stake was worth $730 million at the end of March 2020. The shares have gained almost seven fold since then and closed up 3.5% at $679.82 apiece on Thursday.</p>\n<p>“The impact of crypto assets may have pushed Tesla’s share price above its intrinsic value, making it a good time to sell,” said Hideki Yasuda, an analyst at Ace Research Institute.</p>\n<p>Musk said in February his firm bought bitcoin and would take payment in the cryptocurrency, a decision he later reversed, and his comments on Twitter drive swings in the price of such assets.</p>\n<p>While Panasonic gave financial backing to Tesla when it was smaller, the automaker’s expansion means there’s no need for capital ties, Yasuda added. Panasonic’s shares were up 4.2% on Friday.</p>\n<p>The stake sale will not affect the partnership with Tesla, the Panasonic spokesperson said, but comes as the automaker is diversifying its own battery supply chain.</p>\n<p>Tesla has struck deals with South Korea’s LG Energy Solution, a unit of LG Chem, and China’s CATL, with Reuters reporting the latter is planning a plant in Shanghai near the automaker’s production base.</p>\n<p>Panasonic said earlier this year it would buy the shareshereof U.S. supply-chain software company Blue Yonder that it does not already own, in a $7.1 billion deal. Its biggest such deal in a decade, the price raised the eyebrows of analysts who pointed to the firm's spotty M&amp;A track record.</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>Panasonic sells Tesla stake for $3.6 billion, may use cash for strategic investments</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\">\nPanasonic sells Tesla stake for $3.6 billion, may use cash for strategic investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 13:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/panasonic-tesla/update-4-panasonic-sells-tesla-stake-for-3-6-bln-may-use-cash-for-strategic-investments-idUSL2N2O6374><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion yen ($3.61 billion) in the year ended March, a spokesperson for the Japanese company said on Friday...</p>\n\n<a href=\"https://www.reuters.com/article/panasonic-tesla/update-4-panasonic-sells-tesla-stake-for-3-6-bln-may-use-cash-for-strategic-investments-idUSL2N2O6374\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","PCRFY":"松下"},"source_url":"https://www.reuters.com/article/panasonic-tesla/update-4-panasonic-sells-tesla-stake-for-3-6-bln-may-use-cash-for-strategic-investments-idUSL2N2O6374","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180366049","content_text":"TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion yen ($3.61 billion) in the year ended March, a spokesperson for the Japanese company said on Friday.\nThe sale comes as the bicycles-to-hair dryers conglomerate is seeking to reduce its dependence on Tesla and raise cash for investing in growth.\nPanasonic’s battery business is dominated by Elon Musk’s Tesla, but the two firms have had a tense relationship at times with executives trading barbs publicly.\nPanasonic bought 1.4 million Tesla shares at $21.15 each in 2010 for about $30 million. That stake was worth $730 million at the end of March 2020. The shares have gained almost seven fold since then and closed up 3.5% at $679.82 apiece on Thursday.\n“The impact of crypto assets may have pushed Tesla’s share price above its intrinsic value, making it a good time to sell,” said Hideki Yasuda, an analyst at Ace Research Institute.\nMusk said in February his firm bought bitcoin and would take payment in the cryptocurrency, a decision he later reversed, and his comments on Twitter drive swings in the price of such assets.\nWhile Panasonic gave financial backing to Tesla when it was smaller, the automaker’s expansion means there’s no need for capital ties, Yasuda added. Panasonic’s shares were up 4.2% on Friday.\nThe stake sale will not affect the partnership with Tesla, the Panasonic spokesperson said, but comes as the automaker is diversifying its own battery supply chain.\nTesla has struck deals with South Korea’s LG Energy Solution, a unit of LG Chem, and China’s CATL, with Reuters reporting the latter is planning a plant in Shanghai near the automaker’s production base.\nPanasonic said earlier this year it would buy the shareshereof U.S. supply-chain software company Blue Yonder that it does not already own, in a $7.1 billion deal. Its biggest such deal in a decade, the price raised the eyebrows of analysts who pointed to the firm's spotty M&A track record.","news_type":1},"isVote":1,"tweetType":1,"viewCount":99,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127666052,"gmtCreate":1624846580576,"gmtModify":1703846062212,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"niceeeeeeeeeeeeeeeeeeeeeeeeeee gggggggggggggggggggggggggggggggggggggggytggggggg","listText":"niceeeeeeeeeeeeeeeeeeeeeeeeeee gggggggggggggggggggggggggggggggggggggggytggggggg","text":"niceeeeeeeeeeeeeeeeeeeeeeeeeee gggggggggggggggggggggggggggggggggggggggytggggggg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127666052","repostId":"2146567027","repostType":4,"repost":{"id":"2146567027","kind":"news","pubTimestamp":1624600920,"share":"https://ttm.financial/m/news/2146567027?lang=&edition=fundamental","pubTime":"2021-06-25 14:02","market":"us","language":"en","title":"Fearing predators, Credit Suisse seeks new look or even merger - sources","url":"https://stock-news.laohu8.com/highlight/detail?id=2146567027","media":"StreetInsider","summary":"ZURICH (Reuters) - Credit Suisse's top management are under pressure to come up with an overhaul pla","content":"<p>ZURICH (Reuters) - Credit Suisse's top management are under pressure to come up with an overhaul plan for the scandal-hit Swiss bank that could include a potential merger with rival UBS, three people familiar with its thinking told Reuters.</p>\n<p>The bank's executives fear the flagship Swiss lender, left vulnerable by scandals, could be challenged by investors demanding its break-up, or that its shrinking stock-market value makes it a target for a foreign hostile takeover, those people said.</p>\n<p>New chairman, Antonio Horta-Osorio, announced a strategic review in late April, telling investors he would take time in reaching hard decisions that lay ahead.</p>\n<p>The bank's senior management are due to meet next week, <a href=\"https://laohu8.com/S/AONE\">one</a> source said, while another person with knowledge of the matter said top executives wanted to examine restructuring proposals in early July.</p>\n<p>The Swiss bank has had to review its business after losing more than $5 billion in the rush to unwind trades by family office Archegos. It faces a barrage of legal action for helping clients invest $10 billion in bonds issued by collapsed supply chain finance firm Greensill Capital.</p>\n<p>The bank's shares have dropped by more than a quarter since early March, when its problems with Greensill were exposed.</p>\n<p>\"Credit Suisse needs a merger deal right away,\" a person with knowledge of the bank's thinking told Reuters.</p>\n<p>\"There is growing concern in Zurich that activist investors will go after them if they stand still.\"</p>\n<p>Some executives have debated steps such as spinning off its local Swiss bank to prepare the rest of the business for a merger, pruning back investment banking or selling its asset management business, two of the people said.</p>\n<p>A third said selling the U.S. investment bank was also an option.</p>\n<p>Management discussions on any restructuring are preliminary and while they are in full swing, no decisions have yet been taken, the people said.</p>\n<p>Credit Suisse and UBS declined to comment.</p>\n<p>The bank's management needs a new-look Credit Suisse, as its standing with customers and in Switzerland hits a low ebb.</p>\n<p>In April, Swiss supervisor FINMA said it had opened enforcement proceedings against Credit Suisse following Archegos and that it would investigate risk management shortcomings.</p>\n<p>Swiss regulators are exasperated with what they see as the bank's freewheeling culture, said <a href=\"https://laohu8.com/S/AONE.U\">one</a> person with direct knowledge of the matter.</p>\n<p>Credit Suisse's shrunken market valuation makes it worth a fraction of some of the big Wall Street banks, which have also been touted as potential suitors.</p>\n<p>But any U.S. takeover would not be well received in Switzerland. Relations between Swiss banks and Washington were damaged when the United States pressured them into giving up their strict secrecy code more than a decade ago.</p>\n<p>'DISAPPEAR IN FOREIGN HANDS'</p>\n<p>A merger with UBS would more palatable, the people said.</p>\n<p>\"The Swiss establishment is aware that without a domestic merger Credit Suisse will disappear in foreign hands,\" one of the sources said.</p>\n<p>But the combination of Credit Suisse-UBS would have a dominant position in the Swiss market, a concern for regulators who could also demand that a combined group bolster its capital.</p>\n<p>Credit Suisse could split out its Swiss bank to address competition concerns, one source said.</p>\n<p>Credit Suisse-UBS would have workforce of more than 110,000 and a market value of more than $85 billion.</p>\n<p>Earlier this year, when asked about a tie-up with Credit Suisse, UBS CEO Ralph Hamers threw cold water on the idea, saying he preferred \"organic\" growth.</p>\n<p>Any M&amp;A deal for Credit Suisse would mark the end of a national icon, founded to finance the country's pan-Alpine railways and central to Switzerland's transformation from a farming nation to financial powerhouse.</p>\n<p>For such a flagship, the Swiss may prefer a home-grown solution to the prospect of a takeover by a foreign bank.</p>\n<p>A cross-border merger would be complicated because it would be unclear whether Switzerland or another host country would have control.</p>\n<p>UBS, for instance, held merger talks with Germany's Deutsche Bank in 2019 but they fell apart in the face of Swiss opposition, said another person familiar with the matter. The two banks declined comment on this.</p>\n<p>Deutsche CEO Christian Sewing has expressed interest in participating in European bank mergers.</p>\n<p>But many people who spoke to Reuters for this story, however, believed a deal between Deutsche Bank and Credit Suisse was unlikely.</p>","source":"highlight_streetinsider","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fearing predators, Credit Suisse seeks new look or even merger - sources</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\">\nFearing predators, Credit Suisse seeks new look or even merger - sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 14:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=18603868><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ZURICH (Reuters) - Credit Suisse's top management are under pressure to come up with an overhaul plan for the scandal-hit Swiss bank that could include a potential merger with rival UBS, three people ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=18603868\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.streetinsider.com/dr/news.php?id=18603868","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146567027","content_text":"ZURICH (Reuters) - Credit Suisse's top management are under pressure to come up with an overhaul plan for the scandal-hit Swiss bank that could include a potential merger with rival UBS, three people familiar with its thinking told Reuters.\nThe bank's executives fear the flagship Swiss lender, left vulnerable by scandals, could be challenged by investors demanding its break-up, or that its shrinking stock-market value makes it a target for a foreign hostile takeover, those people said.\nNew chairman, Antonio Horta-Osorio, announced a strategic review in late April, telling investors he would take time in reaching hard decisions that lay ahead.\nThe bank's senior management are due to meet next week, one source said, while another person with knowledge of the matter said top executives wanted to examine restructuring proposals in early July.\nThe Swiss bank has had to review its business after losing more than $5 billion in the rush to unwind trades by family office Archegos. It faces a barrage of legal action for helping clients invest $10 billion in bonds issued by collapsed supply chain finance firm Greensill Capital.\nThe bank's shares have dropped by more than a quarter since early March, when its problems with Greensill were exposed.\n\"Credit Suisse needs a merger deal right away,\" a person with knowledge of the bank's thinking told Reuters.\n\"There is growing concern in Zurich that activist investors will go after them if they stand still.\"\nSome executives have debated steps such as spinning off its local Swiss bank to prepare the rest of the business for a merger, pruning back investment banking or selling its asset management business, two of the people said.\nA third said selling the U.S. investment bank was also an option.\nManagement discussions on any restructuring are preliminary and while they are in full swing, no decisions have yet been taken, the people said.\nCredit Suisse and UBS declined to comment.\nThe bank's management needs a new-look Credit Suisse, as its standing with customers and in Switzerland hits a low ebb.\nIn April, Swiss supervisor FINMA said it had opened enforcement proceedings against Credit Suisse following Archegos and that it would investigate risk management shortcomings.\nSwiss regulators are exasperated with what they see as the bank's freewheeling culture, said one person with direct knowledge of the matter.\nCredit Suisse's shrunken market valuation makes it worth a fraction of some of the big Wall Street banks, which have also been touted as potential suitors.\nBut any U.S. takeover would not be well received in Switzerland. Relations between Swiss banks and Washington were damaged when the United States pressured them into giving up their strict secrecy code more than a decade ago.\n'DISAPPEAR IN FOREIGN HANDS'\nA merger with UBS would more palatable, the people said.\n\"The Swiss establishment is aware that without a domestic merger Credit Suisse will disappear in foreign hands,\" one of the sources said.\nBut the combination of Credit Suisse-UBS would have a dominant position in the Swiss market, a concern for regulators who could also demand that a combined group bolster its capital.\nCredit Suisse could split out its Swiss bank to address competition concerns, one source said.\nCredit Suisse-UBS would have workforce of more than 110,000 and a market value of more than $85 billion.\nEarlier this year, when asked about a tie-up with Credit Suisse, UBS CEO Ralph Hamers threw cold water on the idea, saying he preferred \"organic\" growth.\nAny M&A deal for Credit Suisse would mark the end of a national icon, founded to finance the country's pan-Alpine railways and central to Switzerland's transformation from a farming nation to financial powerhouse.\nFor such a flagship, the Swiss may prefer a home-grown solution to the prospect of a takeover by a foreign bank.\nA cross-border merger would be complicated because it would be unclear whether Switzerland or another host country would have control.\nUBS, for instance, held merger talks with Germany's Deutsche Bank in 2019 but they fell apart in the face of Swiss opposition, said another person familiar with the matter. The two banks declined comment on this.\nDeutsche CEO Christian Sewing has expressed interest in participating in European bank mergers.\nBut many people who spoke to Reuters for this story, however, believed a deal between Deutsche Bank and Credit Suisse was unlikely.","news_type":1},"isVote":1,"tweetType":1,"viewCount":285,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127668806,"gmtCreate":1624846550105,"gmtModify":1703846061884,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127668806","repostId":"1192734381","repostType":4,"repost":{"id":"1192734381","kind":"news","pubTimestamp":1624607687,"share":"https://ttm.financial/m/news/1192734381?lang=&edition=fundamental","pubTime":"2021-06-25 15:54","market":"us","language":"en","title":"It Always Ends The Same Way: Crisis, Crash, Collapse","url":"https://stock-news.laohu8.com/highlight/detail?id=1192734381","media":"zerohedge","summary":"Risk has not been extinguished, it is expanding geometrically beneath the false stability of a monstrously manipulated market.","content":"<blockquote>\n <i>Risk has not been extinguished, it is expanding geometrically beneath the false stability of a monstrously manipulated market.</i>\n</blockquote>\n<p><img src=\"https://static.tigerbbs.com/901d35cf67cdca7a9c9da3d17ddb2d83\" tg-width=\"500\" tg-height=\"456\"></p>\n<p><b>One of the most under-appreciated investment insights is courtesy of Mike Tyson:&nbsp;</b><b><i>\"Everybody has a plan until they get punched in the mouth.\"</i></b>&nbsp;At this moment in history, the plan of most market participants is to place their full faith and trust in the status quo's ability to keep asset prices lofting ever higher, essentially forever.</p>\n<p><b>In other words, the vast majority of punters are convinced they will never suffer the indignity of getting punched in the mouth by a market crash.</b>&nbsp;What makes this confidence so interesting is&nbsp;<b>massively distorted markets always end the same way: crisis, crash and collapse.</b></p>\n<p><b>The core dynamic here is distorted markets provide false feedback and misleading information which then lead to participants making catastrophically misguided decisions.</b>&nbsp;Investment decisions made on poor information will also be poor, leading participants to end up poor, to their very great surprise.</p>\n<p><b>The surprise comes from the falsity of the feedback, as those who are distorting markets want punters to believe \"the market\" is functioning transparently.</b>&nbsp;If you're manipulating the market, the last thing you want is for the unwary marks to discover that the market is generating false signals and misleading information on risk, as&nbsp;<i>knowing the market is being distorted would alert them to the extraordinary risks intrinsic to heavily distorted markets.</i></p>\n<p><b>The risks arise from the disconnect between the precariousness of the manipulated market and the extreme confidence punters have in its stability and predictability.</b>&nbsp;The predictability comes not from transparent feedback and market signals but from the manipulation. This stability is entirely fabricated and therefore it lacks the&nbsp;<i>dynamic stability of truly open markets.</i></p>\n<p>Markets that are being distorted/manipulated to achieve a goal that is impossible in truly open markets--for example, markets that only loft higher with near-zero volatility--lull participants into a dangerous perception that because markets are so stable, risk has dissipated.</p>\n<p><img src=\"https://static.tigerbbs.com/e420e77dbab689d93ea0a8d481793dd0\" tg-width=\"500\" tg-height=\"430\"></p>\n<p><b>In actuality, risk is skyrocketing beneath the surface of the artificial stability because the market has been stripped of the mechanisms of&nbsp;</b><b><i>dynamic stability</i></b><b>.</b>&nbsp;This artificial stability derived from sustained manipulation has the superficial appearance of low-risk markets, i.e., low levels of volatility, but this lack of volatility derives not from transparency but from behind-the-scenes suppression of volatility.</p>\n<p><b>Another source of risk in distorted markets is the&nbsp;</b><b><i>illusion of liquidity</i></b><b>:</b>&nbsp;in low-volume markets of suppressed volatility, participants are encouraged to believe that they can buy and sell whatever securities they want in whatever volumes they want without disturbing market pricing and liquidity. In other words, participants are led to believe that the market will always have a bid due to the near-infinite depth of liquidity: no matter how many billions of dollars of securities you want to sell, there will always be a bid for your shares.</p>\n<p><b>In actual fact, the bid is paper-thin and it vanishes altogether once selling rises above very low levels.</b>&nbsp;Heavily manipulated markets are exquisitely sensitive to selling because the entire point is to limit any urge to sell while encouraging the greed to increase gains by buying more.</p>\n<p><b>The illusions of low risk, essentially guaranteed gains for those who increase their positions and near-infinite liquidity generate overwhelming incentives to borrow more and leverage it to the hilt to maximize gains.</b>&nbsp;The blissfully delusional punter feels the decision to borrow the maximum available and leverage it to the maximum is entirely rational due to the \"obvious\" absence of risk, the \"obvious\" guaranteed gains offered by markets lofting ever higher like clockwork and the \"obvious\" abundance of liquidity, assuring the punter they can always sell their entire position at today's prices and lock in profits at any time.</p>\n<p><b>On top of all these grossly misleading distortions, punters have been encouraged to believe in the ultimate distortion: the Federal Reserve will never let markets decline again, ever.</b>&nbsp;This is the perfection of&nbsp;<i>moral hazard</i>:&nbsp;<b>risk has been disconnected from consequence.</b></p>\n<p>In this perfection of&nbsp;<i>moral hazard</i>, punters consider it entirely rational to increase extremely risky speculative bets because&nbsp;<b>the Federal Reserve will never let markets decline.</b>&nbsp;Given the abundant evidence behind this assumption, it would be irrational not to ramp up crazy-risky speculative bets to the maximum&nbsp;<b>because losses are now impossible thanks to the Fed's implicit promise to never let markets drop.</b></p>\n<p><b>This is why distorted, manipulated markets always end the same way:</b>&nbsp;first, in an unexpected emergence of risk, which was presumed to be banished; second, a market crash as the paper-thin bid disappears and prices flash-crash to levels that wipe out all those forced to sell by margin calls, and then the collapse of faith in the manipulators (the Fed), collapse of the collateral supporting trillions of dollars in highly leveraged debt and then the collapse of the entire delusion-based financial system.</p>\n<p><img src=\"https://static.tigerbbs.com/db208f6307ade39a0c0f27fcdf7aa080\" tg-width=\"500\" tg-height=\"609\"></p>\n<p><b>Gordon Long and I illuminate the many layers of distortion, manipulation and moral hazard in our new video presentation,&nbsp;It Always Ends The Same Way</b>&nbsp;(34:33). Amidst the ruins generated by well-meaning manipulation and distortion, the \"well meaning\" part will leave an extremely long-lasting bitter taste in all those who failed to differentiate between the false signals and distorted information of manipulated markets and the trustworthy transparency of signals arising in truly open markets.</p>\n<p><b>In summary: risk has not been extinguished, it is expanding geometrically beneath the false stability of a monstrously manipulated market.</b>&nbsp;As I often note here,<i>risk cannot be extinguished, it can only be transferred.</i>&nbsp;By distorting markets to create an illusion of low-risk stability, the Federal Reserve has transferred this fatal supernova of risk to the entire financial system.</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>It Always Ends The Same Way: Crisis, Crash, Collapse</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\">\nIt Always Ends The Same Way: Crisis, Crash, Collapse\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 15:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/it-always-ends-same-way-crisis-crash-collapse><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Risk has not been extinguished, it is expanding geometrically beneath the false stability of a monstrously manipulated market.\n\n\nOne of the most under-appreciated investment insights is courtesy of ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/it-always-ends-same-way-crisis-crash-collapse\">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","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/it-always-ends-same-way-crisis-crash-collapse","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192734381","content_text":"Risk has not been extinguished, it is expanding geometrically beneath the false stability of a monstrously manipulated market.\n\n\nOne of the most under-appreciated investment insights is courtesy of Mike Tyson: \"Everybody has a plan until they get punched in the mouth.\" At this moment in history, the plan of most market participants is to place their full faith and trust in the status quo's ability to keep asset prices lofting ever higher, essentially forever.\nIn other words, the vast majority of punters are convinced they will never suffer the indignity of getting punched in the mouth by a market crash. What makes this confidence so interesting is massively distorted markets always end the same way: crisis, crash and collapse.\nThe core dynamic here is distorted markets provide false feedback and misleading information which then lead to participants making catastrophically misguided decisions. Investment decisions made on poor information will also be poor, leading participants to end up poor, to their very great surprise.\nThe surprise comes from the falsity of the feedback, as those who are distorting markets want punters to believe \"the market\" is functioning transparently. If you're manipulating the market, the last thing you want is for the unwary marks to discover that the market is generating false signals and misleading information on risk, as knowing the market is being distorted would alert them to the extraordinary risks intrinsic to heavily distorted markets.\nThe risks arise from the disconnect between the precariousness of the manipulated market and the extreme confidence punters have in its stability and predictability. The predictability comes not from transparent feedback and market signals but from the manipulation. This stability is entirely fabricated and therefore it lacks the dynamic stability of truly open markets.\nMarkets that are being distorted/manipulated to achieve a goal that is impossible in truly open markets--for example, markets that only loft higher with near-zero volatility--lull participants into a dangerous perception that because markets are so stable, risk has dissipated.\n\nIn actuality, risk is skyrocketing beneath the surface of the artificial stability because the market has been stripped of the mechanisms of dynamic stability. This artificial stability derived from sustained manipulation has the superficial appearance of low-risk markets, i.e., low levels of volatility, but this lack of volatility derives not from transparency but from behind-the-scenes suppression of volatility.\nAnother source of risk in distorted markets is the illusion of liquidity: in low-volume markets of suppressed volatility, participants are encouraged to believe that they can buy and sell whatever securities they want in whatever volumes they want without disturbing market pricing and liquidity. In other words, participants are led to believe that the market will always have a bid due to the near-infinite depth of liquidity: no matter how many billions of dollars of securities you want to sell, there will always be a bid for your shares.\nIn actual fact, the bid is paper-thin and it vanishes altogether once selling rises above very low levels. Heavily manipulated markets are exquisitely sensitive to selling because the entire point is to limit any urge to sell while encouraging the greed to increase gains by buying more.\nThe illusions of low risk, essentially guaranteed gains for those who increase their positions and near-infinite liquidity generate overwhelming incentives to borrow more and leverage it to the hilt to maximize gains. The blissfully delusional punter feels the decision to borrow the maximum available and leverage it to the maximum is entirely rational due to the \"obvious\" absence of risk, the \"obvious\" guaranteed gains offered by markets lofting ever higher like clockwork and the \"obvious\" abundance of liquidity, assuring the punter they can always sell their entire position at today's prices and lock in profits at any time.\nOn top of all these grossly misleading distortions, punters have been encouraged to believe in the ultimate distortion: the Federal Reserve will never let markets decline again, ever. This is the perfection of moral hazard: risk has been disconnected from consequence.\nIn this perfection of moral hazard, punters consider it entirely rational to increase extremely risky speculative bets because the Federal Reserve will never let markets decline. Given the abundant evidence behind this assumption, it would be irrational not to ramp up crazy-risky speculative bets to the maximum because losses are now impossible thanks to the Fed's implicit promise to never let markets drop.\nThis is why distorted, manipulated markets always end the same way: first, in an unexpected emergence of risk, which was presumed to be banished; second, a market crash as the paper-thin bid disappears and prices flash-crash to levels that wipe out all those forced to sell by margin calls, and then the collapse of faith in the manipulators (the Fed), collapse of the collateral supporting trillions of dollars in highly leveraged debt and then the collapse of the entire delusion-based financial system.\n\nGordon Long and I illuminate the many layers of distortion, manipulation and moral hazard in our new video presentation, It Always Ends The Same Way (34:33). Amidst the ruins generated by well-meaning manipulation and distortion, the \"well meaning\" part will leave an extremely long-lasting bitter taste in all those who failed to differentiate between the false signals and distorted information of manipulated markets and the trustworthy transparency of signals arising in truly open markets.\nIn summary: risk has not been extinguished, it is expanding geometrically beneath the false stability of a monstrously manipulated market. As I often note here,risk cannot be extinguished, it can only be transferred. By distorting markets to create an illusion of low-risk stability, the Federal Reserve has transferred this fatal supernova of risk to the entire financial system.","news_type":1},"isVote":1,"tweetType":1,"viewCount":229,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127681816,"gmtCreate":1624846152635,"gmtModify":1703846045743,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127681816","repostId":"1108214079","repostType":4,"repost":{"id":"1108214079","kind":"news","pubTimestamp":1624607367,"share":"https://ttm.financial/m/news/1108214079?lang=&edition=fundamental","pubTime":"2021-06-25 15:49","market":"us","language":"en","title":"All 23 US Banks Easily Pass Fed's Stress Test, Setting Stage For Billions In Buybacks","url":"https://stock-news.laohu8.com/highlight/detail?id=1108214079","media":"zerohedge","summary":"As wepreviewed earlier, today the Fed would release the latest bank Stress Test results, and as we a","content":"<p>As wepreviewed earlier, today the Fed would release the latest bank Stress Test results, and as we also cynically expected, every bank would pass and sure enough moments ago theFederal Reserve announced that all banks easily clearedtheir annual bill of health, acing their annual stress test which found that banks could suffer almost $500 billion in losses and still comfortably meet capital requirements, setting the scene for hundreds of billions in stock buybacks and dividends.</p>\n<p>The \"test\" showed the country’s biggest banks could withstand $474 billion in losses from loans and other positions, and still emerge with more than double the required high-quality common equity tier one, or CET1, capital relative to their risk-weighted assets.</p>\n<p>In a statement published by the Federal Reserve Board, the Fed said that the results of the annual bank stress test showed that large banks \"continue to have strong capital levels and could continue lending to households and businesses during a severe recession.\"</p>\n<p>\"Over the past year, the Federal Reserve has run three stress tests with several different hypothetical recessions and all have confirmed that the banking system is strongly positioned to support the ongoing recovery,\" said Vice Chair for Supervision Randal K. Quarles.</p>\n<p><b>All 23 large banks tested remained well above their risk-based minimum capital requirements,</b>and as laid out previously by the Board, the additional restrictions put in place during the COVID event will end. As a result, all large banks will be subject to the normal restrictions of the Board's stress capital buffer, or SCB, framework.</p>\n<p>The SCB framework was finalized last year and maintains strong capital requirements in the aggregate for large banks with an increase in requirements for the largest and most complex banks. It sets capital requirements via the stress tests, and as a result, banks are required to hold enough capital to survive a severe recession. If a bank does not stay above its capital requirements, which include the SCB, it is subject to automatic restrictions on capital distributions and discretionary bonus payments.</p>\n<p>Naturally this is great news,<b>and it means that banks no longer need the Fed's $120BN in monthly QE right?</b></p>\n<p>Joking aside, having aced their tests the six largest US banks - a group that also includes Citigroup, Wells Fargo, Morgan Stanley and Goldman Sachs - will now pay out approximately $142 billion in capital to shareholders, paving the way for them to double total shareholder payouts in the next four quarters, according to data compiled by Bloomberg based on estimates provided by analysts at Barclays Plc.</p>\n<p><img src=\"https://static.tigerbbs.com/0c0f4f744baea705298a632057a1089d\" tg-width=\"642\" tg-height=\"339\" referrerpolicy=\"no-referrer\"></p>\n<p>For those wondering just what the Fed \"tested\" for,this year's hypothetical scenarioincludes a \"severe\" global recession with substantial stress in commercial real estate and corporate debt markets:</p>\n<ul>\n <li>The unemployment rate rises by 4 percentage points to a peak of 10-3/4 percent.</li>\n <li>Gross domestic product falls 4 percent from the fourth quarter of 2020 through the third quarter of 2022.</li>\n <li>And asset prices decline sharply, with a 55 percent decline in equity prices (unclear how many trillions the Fed would have to inject in this scenario to stabilize stonks).</li>\n</ul>\n<p>Under that scenario, the Fed calculated that<b>the 23 large banks would collectively lose more than $470 billion, with nearly $160 billion losses from commercial real estate and corporate loans.</b></p>\n<p>Of banks headquartered in the US, investment banking groups Goldman Sachs and Morgan Stanley suffered the biggest hits to their capital ratios in the stress tests, with declines of 5.9 and 4.7 percentage points, respectively. This compared to an average decline of 2.4% points for the 23 banks that underwent the tests, which included the American subsidiaries of foreign banks with significant US operations.</p>\n<p><img src=\"https://static.tigerbbs.com/7cf2f5302333e2e68ae4bf1a48962627\" tg-width=\"819\" tg-height=\"620\" referrerpolicy=\"no-referrer\"></p>\n<p>Even in a worst case scenario capital ratios would decline to only 10.6%, still more than double their minimum requirements.</p>\n<p>Consumer debt accounted for a smaller portion of overall losses than previous years since most retail customers spent the past year paying down credit cards and other loans during the Covid-19 pandemic. But an increase in expected losses in commercial and industrial loans more than offset that decline. Nearly $160bn of the losses came from commercial real estate and corporate loans.</p>\n<p><img src=\"https://static.tigerbbs.com/602b5d94c01e097ef93f83f6b70ade10\" tg-width=\"956\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>A summary of how the various bank capital ratios would be impact under the Fed's stress scenarios is shown below.</p>\n<p><img src=\"https://static.tigerbbs.com/d8a6aa543d4ad0e3d044e4397a77ad2c\" tg-width=\"973\" tg-height=\"961\" referrerpolicy=\"no-referrer\"></p>\n<p>The Fed also said that, as expected, it would lift pandemic restrictions on bank share buybacks and dividends on June 30th after banks clear stress tests.</p>\n<p>The next step is on Monday, June 28: the Fed expects banks to wait until then to analyze the results of the stress tests before announcing any plans for new shareholder payouts, according to senior Fed officials. Then, after the market close, banks can unveil their capital distribution plans. From the tests, the Fed will also prescribe for each bank how much CET1 capital in excess of regulatory minimums they need to keep through a so-called stress capital buffer. The CET1 ratio measured against risk-weighted assets is a crucial benchmark of financial stability.</p>\n<p>Barclays analysts estimate the median bank out of the 20 relevant institutions it covers will return over 100 per cent of its earnings to shareholders over the next year, with capital returned to investors approaching $200bn.</p>\n<p>In immediate response, the market - which knew the outcome of the test well in advance - bid up bank stocks which rose in postmarket trading, with Bank of America leading the rally among big banks, rising 1.6%; Morgan Stanley +1%, Citigroup +0.9% and Wells Fargo +0.8%, JPMorgan +0.7%, Goldman Sachs +0.6%.</p>\n<p><img src=\"https://static.tigerbbs.com/f1c7c394ce7aae8679dfe85b5e987060\" tg-width=\"512\" tg-height=\"335\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/a670e03c93a58825a2398a12f3756c6b\" tg-width=\"500\" tg-height=\"328\" referrerpolicy=\"no-referrer\"></p>\n<p>* * *</p>\n<p>And while all of the above was exactly as expected, overnight Credit Suisse repo guru Zoltan Poszar warned of a potentially troubling twist.</p>\n<p>In his latest Global Money Dispatch, Pozsar notes that among other things, today's stress test results will determine the stress capital buffers (SCB) large banks will have to hold in 2022, which will affect their CET1 minimums. Naturally,<b>lower SCBs allow the largest U.S. banks to run with higher G-SIB surcharges, and this trade-off is particularly important for J.P. Morgan.</b>According to Pozsar,&nbsp; the bank will be more willing to let its G-SIB surcharge climb to 5% this year from 4% last year if its SCB comes in around 2.5%, down from 3.3% currently. As a result, today's release may have \"<i>a big impact on the pricing of the year-end turn in FX swaps: if J.P. Morgan’s SCB drops a lot, year-end premia might shrink a lot from here.\"</i></p>\n<p>There's more: looking ahead to the June 30 expiration of stock buyback limitations, the Hungarian repo guru writes that<b>the upcoming wave of buybacks \"destroy balance sheet capacity in the banking system\" as banks that return capital to shareholders have less capital to leverage up.</b></p>\n<p>Here's the math:<i>with a 5% Supplemental Liquidity Ratio minimum at the holdco level,</i><i><b>banks run 20-times leverage, which means that $10 billion in stock buybacks means $200 billion less of banks’ demand for reserves, Treasuries, MBS, and deposits.</b></i></p>\n<p>This means that as banks rush to handout cash to shareholders, they will be forced to park even more reserves elsewhere... like for example the Fed's reverse repo facility. This “push” by banks to shed capacity and potentially some deposits will meet the “sucking sound” of the RRP facility in coming weeks. It comes as usage of the Fed's reverse repo facility has been rising by tens of billions daily and on Wednesday just hit a record $813.6 billion.</p>\n<p><img src=\"https://static.tigerbbs.com/391bdb2316b81ed40abaf3e0280d35a1\" tg-width=\"1170\" tg-height=\"628\" referrerpolicy=\"no-referrer\"></p>\n<p>Now imagine what will happen to the RRP facility if banks indeed proceed to repurchase $142BN in stock; applying Pozsar's 20x leverage multiple, this means that bank balance sheets will shrink by just under $3 trillion, including trillions in reserves which will have to be parked at the Fed, which also means that in the coming weeks usage on the Fed's reserve facility is set to explode to unprecedented levels. This in turn will only accelerate the next funding crisis (now that the banking system has shifted from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market) thanks to the Fed's IOER/RRP rate hike), as we described in \"Powell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis.\"</p>\n<p>One final technical consideration from Zoltan is that the flattening of the yield curve in recent days hit bank stocks,<b>so banks may start buybacks on July 1st, which means banks might choose to stay liquid around quarter-end.</b>This will be an extra factor to consider in pricing the June quarter-end turn.</p>\n<p>As Pozsar concludes,<b>\"ample liquidity is ample only if banks are willing to trade it, and trading liquidity means giving it up, which large banks might not want to do when the “pull” of the o/n RRP facility can complicate re-starting buybacks as early as July 1st.</b>\"</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>All 23 US Banks Easily Pass Fed's Stress Test, Setting Stage For Billions In Buybacks</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\">\nAll 23 US Banks Easily Pass Fed's Stress Test, Setting Stage For Billions In Buybacks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 15:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/all-23-us-banks-easily-pass-feds-stress-test-setting-stage-billions-buybacks><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As wepreviewed earlier, today the Fed would release the latest bank Stress Test results, and as we also cynically expected, every bank would pass and sure enough moments ago theFederal Reserve ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/all-23-us-banks-easily-pass-feds-stress-test-setting-stage-billions-buybacks\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GS":"高盛","KBE":"银行指数ETF-SPDR KBW","JPM":"摩根大通","WFC":"富国银行","C":"花旗","MS":"摩根士丹利","BAC":"美国银行"},"source_url":"https://www.zerohedge.com/markets/all-23-us-banks-easily-pass-feds-stress-test-setting-stage-billions-buybacks","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108214079","content_text":"As wepreviewed earlier, today the Fed would release the latest bank Stress Test results, and as we also cynically expected, every bank would pass and sure enough moments ago theFederal Reserve announced that all banks easily clearedtheir annual bill of health, acing their annual stress test which found that banks could suffer almost $500 billion in losses and still comfortably meet capital requirements, setting the scene for hundreds of billions in stock buybacks and dividends.\nThe \"test\" showed the country’s biggest banks could withstand $474 billion in losses from loans and other positions, and still emerge with more than double the required high-quality common equity tier one, or CET1, capital relative to their risk-weighted assets.\nIn a statement published by the Federal Reserve Board, the Fed said that the results of the annual bank stress test showed that large banks \"continue to have strong capital levels and could continue lending to households and businesses during a severe recession.\"\n\"Over the past year, the Federal Reserve has run three stress tests with several different hypothetical recessions and all have confirmed that the banking system is strongly positioned to support the ongoing recovery,\" said Vice Chair for Supervision Randal K. Quarles.\nAll 23 large banks tested remained well above their risk-based minimum capital requirements,and as laid out previously by the Board, the additional restrictions put in place during the COVID event will end. As a result, all large banks will be subject to the normal restrictions of the Board's stress capital buffer, or SCB, framework.\nThe SCB framework was finalized last year and maintains strong capital requirements in the aggregate for large banks with an increase in requirements for the largest and most complex banks. It sets capital requirements via the stress tests, and as a result, banks are required to hold enough capital to survive a severe recession. If a bank does not stay above its capital requirements, which include the SCB, it is subject to automatic restrictions on capital distributions and discretionary bonus payments.\nNaturally this is great news,and it means that banks no longer need the Fed's $120BN in monthly QE right?\nJoking aside, having aced their tests the six largest US banks - a group that also includes Citigroup, Wells Fargo, Morgan Stanley and Goldman Sachs - will now pay out approximately $142 billion in capital to shareholders, paving the way for them to double total shareholder payouts in the next four quarters, according to data compiled by Bloomberg based on estimates provided by analysts at Barclays Plc.\n\nFor those wondering just what the Fed \"tested\" for,this year's hypothetical scenarioincludes a \"severe\" global recession with substantial stress in commercial real estate and corporate debt markets:\n\nThe unemployment rate rises by 4 percentage points to a peak of 10-3/4 percent.\nGross domestic product falls 4 percent from the fourth quarter of 2020 through the third quarter of 2022.\nAnd asset prices decline sharply, with a 55 percent decline in equity prices (unclear how many trillions the Fed would have to inject in this scenario to stabilize stonks).\n\nUnder that scenario, the Fed calculated thatthe 23 large banks would collectively lose more than $470 billion, with nearly $160 billion losses from commercial real estate and corporate loans.\nOf banks headquartered in the US, investment banking groups Goldman Sachs and Morgan Stanley suffered the biggest hits to their capital ratios in the stress tests, with declines of 5.9 and 4.7 percentage points, respectively. This compared to an average decline of 2.4% points for the 23 banks that underwent the tests, which included the American subsidiaries of foreign banks with significant US operations.\n\nEven in a worst case scenario capital ratios would decline to only 10.6%, still more than double their minimum requirements.\nConsumer debt accounted for a smaller portion of overall losses than previous years since most retail customers spent the past year paying down credit cards and other loans during the Covid-19 pandemic. But an increase in expected losses in commercial and industrial loans more than offset that decline. Nearly $160bn of the losses came from commercial real estate and corporate loans.\n\nA summary of how the various bank capital ratios would be impact under the Fed's stress scenarios is shown below.\n\nThe Fed also said that, as expected, it would lift pandemic restrictions on bank share buybacks and dividends on June 30th after banks clear stress tests.\nThe next step is on Monday, June 28: the Fed expects banks to wait until then to analyze the results of the stress tests before announcing any plans for new shareholder payouts, according to senior Fed officials. Then, after the market close, banks can unveil their capital distribution plans. From the tests, the Fed will also prescribe for each bank how much CET1 capital in excess of regulatory minimums they need to keep through a so-called stress capital buffer. The CET1 ratio measured against risk-weighted assets is a crucial benchmark of financial stability.\nBarclays analysts estimate the median bank out of the 20 relevant institutions it covers will return over 100 per cent of its earnings to shareholders over the next year, with capital returned to investors approaching $200bn.\nIn immediate response, the market - which knew the outcome of the test well in advance - bid up bank stocks which rose in postmarket trading, with Bank of America leading the rally among big banks, rising 1.6%; Morgan Stanley +1%, Citigroup +0.9% and Wells Fargo +0.8%, JPMorgan +0.7%, Goldman Sachs +0.6%.\n\n* * *\nAnd while all of the above was exactly as expected, overnight Credit Suisse repo guru Zoltan Poszar warned of a potentially troubling twist.\nIn his latest Global Money Dispatch, Pozsar notes that among other things, today's stress test results will determine the stress capital buffers (SCB) large banks will have to hold in 2022, which will affect their CET1 minimums. Naturally,lower SCBs allow the largest U.S. banks to run with higher G-SIB surcharges, and this trade-off is particularly important for J.P. Morgan.According to Pozsar,  the bank will be more willing to let its G-SIB surcharge climb to 5% this year from 4% last year if its SCB comes in around 2.5%, down from 3.3% currently. As a result, today's release may have \"a big impact on the pricing of the year-end turn in FX swaps: if J.P. Morgan’s SCB drops a lot, year-end premia might shrink a lot from here.\"\nThere's more: looking ahead to the June 30 expiration of stock buyback limitations, the Hungarian repo guru writes thatthe upcoming wave of buybacks \"destroy balance sheet capacity in the banking system\" as banks that return capital to shareholders have less capital to leverage up.\nHere's the math:with a 5% Supplemental Liquidity Ratio minimum at the holdco level,banks run 20-times leverage, which means that $10 billion in stock buybacks means $200 billion less of banks’ demand for reserves, Treasuries, MBS, and deposits.\nThis means that as banks rush to handout cash to shareholders, they will be forced to park even more reserves elsewhere... like for example the Fed's reverse repo facility. This “push” by banks to shed capacity and potentially some deposits will meet the “sucking sound” of the RRP facility in coming weeks. It comes as usage of the Fed's reverse repo facility has been rising by tens of billions daily and on Wednesday just hit a record $813.6 billion.\n\nNow imagine what will happen to the RRP facility if banks indeed proceed to repurchase $142BN in stock; applying Pozsar's 20x leverage multiple, this means that bank balance sheets will shrink by just under $3 trillion, including trillions in reserves which will have to be parked at the Fed, which also means that in the coming weeks usage on the Fed's reserve facility is set to explode to unprecedented levels. This in turn will only accelerate the next funding crisis (now that the banking system has shifted from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market) thanks to the Fed's IOER/RRP rate hike), as we described in \"Powell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis.\"\nOne final technical consideration from Zoltan is that the flattening of the yield curve in recent days hit bank stocks,so banks may start buybacks on July 1st, which means banks might choose to stay liquid around quarter-end.This will be an extra factor to consider in pricing the June quarter-end turn.\nAs Pozsar concludes,\"ample liquidity is ample only if banks are willing to trade it, and trading liquidity means giving it up, which large banks might not want to do when the “pull” of the o/n RRP facility can complicate re-starting buybacks as early as July 1st.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":121,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":159910544,"gmtCreate":1624935184388,"gmtModify":1703848325817,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"waaa","listText":"waaa","text":"waaa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159910544","repostId":"2147837316","repostType":4,"repost":{"id":"2147837316","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":1624921533,"share":"https://ttm.financial/m/news/2147837316?lang=&edition=fundamental","pubTime":"2021-06-29 07:05","market":"us","language":"en","title":"Tech stock rally sends S&P and Nasdaq to record highs","url":"https://stock-news.laohu8.com/highlight/detail?id=2147837316","media":"Reuters","summary":" - The Nasdaq and S&P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&P 500 and the Nasdaq.The S&P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.In contrast, cycl","content":"<p>(Reuters) - The Nasdaq and S&amp;P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.</p>\n<p>Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&amp;P 500 and the Nasdaq.</p>\n<p>The S&amp;P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.</p>\n<p>In contrast, cyclical sectors dropped sharply amid fears over a spike in COVID-19 cases across Asia. Financials and energy posted the biggest sectoral loss on S&amp;P 500, down by 0.81% and 3.33%, respectively.</p>\n<p>“It’s end of the quarter and investors may want to take some profits and rotate out of energy and stick with tech,” said Sam Stovall, chief investment strategist at CFRA Research in New York.</p>\n<p>Stovall expects stocks should continue their near-term climb as investors await the new earnings season, in which year-over-year earnings growth of S&amp;P 500 companies is expected to top 60%.</p>\n<p>The Dow Jones Industrial Average fell 150.57 points, or 0.44%, to close at 34,283.27. The S&amp;P 500 pared earlier losses and advanced from Friday’s record high by gaining 9.91 points, or 0.23%, to 4,290.61. The Nasdaq Composite added 140.12 points, or 0.98%, to 14,500.51.</p>\n<p>Both the S&amp;P 500 and the Nasdaq hit a series of record highs last week. the tech-heavy Nasdaq’s 5% gain in June is outpacing its peers as investors pile back in to tech-oriented growth stocks on diminishing worries about runaway inflation.</p>\n<p>“We believe with the Fed putting a realistic goal post, investors now have much more of a risk-on mentality going into the second half of the year. A lot of these tech names have underperformed, while fundamentals were very robust going into the June quarter,” said Wedbush Securities analyst Daniel Ives, who expects the Nasdaq to hit 16,000 by year-end.</p>\n<p>Facebook jumped over 4% as a U.S. judge granted the company’s motion to dismiss a Federal Trade Commission lawsuit. The social media giant finished Monday with over $1 trillion in market capitalization.</p>\n<p>On the Nasdaq 100, the largest gainer was Nvidia Corp, which rose 5.0% after major chip makers Broadcom Inc, Marvell and Taiwan-based MediaTek endorsed its $40 billion deal to buy UK chip designer Arm.</p>\n<p>With the S&amp;P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.</p>\n<p>On the economic front, investor attention will be focused on consumer confidence data, a private jobs report and a crucial monthly employment report due later this week. Quarterly results from Micron Technology Inc and Walgreens Boots Alliance are also slated for this week.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 100 new highs and 31 new lows.</p>\n<p>Volume on U.S. exchanges was 9.55 billion shares, compared with the 11.17 billion average for the full session 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>Tech stock rally sends S&P and Nasdaq to record highs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTech stock rally sends S&P and Nasdaq to record highs\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-29 07:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Reuters) - The Nasdaq and S&amp;P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.</p>\n<p>Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&amp;P 500 and the Nasdaq.</p>\n<p>The S&amp;P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.</p>\n<p>In contrast, cyclical sectors dropped sharply amid fears over a spike in COVID-19 cases across Asia. Financials and energy posted the biggest sectoral loss on S&amp;P 500, down by 0.81% and 3.33%, respectively.</p>\n<p>“It’s end of the quarter and investors may want to take some profits and rotate out of energy and stick with tech,” said Sam Stovall, chief investment strategist at CFRA Research in New York.</p>\n<p>Stovall expects stocks should continue their near-term climb as investors await the new earnings season, in which year-over-year earnings growth of S&amp;P 500 companies is expected to top 60%.</p>\n<p>The Dow Jones Industrial Average fell 150.57 points, or 0.44%, to close at 34,283.27. The S&amp;P 500 pared earlier losses and advanced from Friday’s record high by gaining 9.91 points, or 0.23%, to 4,290.61. The Nasdaq Composite added 140.12 points, or 0.98%, to 14,500.51.</p>\n<p>Both the S&amp;P 500 and the Nasdaq hit a series of record highs last week. the tech-heavy Nasdaq’s 5% gain in June is outpacing its peers as investors pile back in to tech-oriented growth stocks on diminishing worries about runaway inflation.</p>\n<p>“We believe with the Fed putting a realistic goal post, investors now have much more of a risk-on mentality going into the second half of the year. A lot of these tech names have underperformed, while fundamentals were very robust going into the June quarter,” said Wedbush Securities analyst Daniel Ives, who expects the Nasdaq to hit 16,000 by year-end.</p>\n<p>Facebook jumped over 4% as a U.S. judge granted the company’s motion to dismiss a Federal Trade Commission lawsuit. The social media giant finished Monday with over $1 trillion in market capitalization.</p>\n<p>On the Nasdaq 100, the largest gainer was Nvidia Corp, which rose 5.0% after major chip makers Broadcom Inc, Marvell and Taiwan-based MediaTek endorsed its $40 billion deal to buy UK chip designer Arm.</p>\n<p>With the S&amp;P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.</p>\n<p>On the economic front, investor attention will be focused on consumer confidence data, a private jobs report and a crucial monthly employment report due later this week. Quarterly results from Micron Technology Inc and Walgreens Boots Alliance are also slated for this week.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 100 new highs and 31 new lows.</p>\n<p>Volume on U.S. exchanges was 9.55 billion shares, compared with the 11.17 billion average for the full session over the last 20 trading days.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NFLX":"奈飞",".SPX":"S&P 500 Index","SQQQ":"纳指三倍做空ETF","TQQQ":"纳指三倍做多ETF","TWTR":"Twitter","WBA":"沃尔格林联合博姿","QQQ":"纳指100ETF","NDAQ":"纳斯达克OMX交易所",".DJI":"道琼斯","QLD":"纳指两倍做多ETF","NVDA":"英伟达","QID":"纳指两倍做空ETF","MU":"美光科技",".IXIC":"NASDAQ Composite","PSQ":"纳指反向ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2147837316","content_text":"(Reuters) - The Nasdaq and S&P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.\nBig tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&P 500 and the Nasdaq.\nThe S&P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.\nIn contrast, cyclical sectors dropped sharply amid fears over a spike in COVID-19 cases across Asia. Financials and energy posted the biggest sectoral loss on S&P 500, down by 0.81% and 3.33%, respectively.\n“It’s end of the quarter and investors may want to take some profits and rotate out of energy and stick with tech,” said Sam Stovall, chief investment strategist at CFRA Research in New York.\nStovall expects stocks should continue their near-term climb as investors await the new earnings season, in which year-over-year earnings growth of S&P 500 companies is expected to top 60%.\nThe Dow Jones Industrial Average fell 150.57 points, or 0.44%, to close at 34,283.27. The S&P 500 pared earlier losses and advanced from Friday’s record high by gaining 9.91 points, or 0.23%, to 4,290.61. The Nasdaq Composite added 140.12 points, or 0.98%, to 14,500.51.\nBoth the S&P 500 and the Nasdaq hit a series of record highs last week. the tech-heavy Nasdaq’s 5% gain in June is outpacing its peers as investors pile back in to tech-oriented growth stocks on diminishing worries about runaway inflation.\n“We believe with the Fed putting a realistic goal post, investors now have much more of a risk-on mentality going into the second half of the year. A lot of these tech names have underperformed, while fundamentals were very robust going into the June quarter,” said Wedbush Securities analyst Daniel Ives, who expects the Nasdaq to hit 16,000 by year-end.\nFacebook jumped over 4% as a U.S. judge granted the company’s motion to dismiss a Federal Trade Commission lawsuit. The social media giant finished Monday with over $1 trillion in market capitalization.\nOn the Nasdaq 100, the largest gainer was Nvidia Corp, which rose 5.0% after major chip makers Broadcom Inc, Marvell and Taiwan-based MediaTek endorsed its $40 billion deal to buy UK chip designer Arm.\nWith the S&P 500 up almost 14% as the first half of 2021 draws to a close, activity in some areas of the market indicates concern over potential volatility, with some investors suggesting the market may be overdue for a significant pullback.\nOn the economic front, investor attention will be focused on consumer confidence data, a private jobs report and a crucial monthly employment report due later this week. Quarterly results from Micron Technology Inc and Walgreens Boots Alliance are also slated for this week.\nDeclining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored decliners.\nThe S&P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 100 new highs and 31 new lows.\nVolume on U.S. exchanges was 9.55 billion shares, compared with the 11.17 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":129,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159929542,"gmtCreate":1624937039786,"gmtModify":1703848368893,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"woah","listText":"woah","text":"woah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/159929542","repostId":"1124906464","repostType":4,"isVote":1,"tweetType":1,"viewCount":451,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174641708,"gmtCreate":1627097454104,"gmtModify":1703484221912,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/UEXCF\">$UEX Corp.(UEXCF)$</a>gg","listText":"<a href=\"https://laohu8.com/S/UEXCF\">$UEX Corp.(UEXCF)$</a>gg","text":"$UEX Corp.(UEXCF)$gg","images":[{"img":"https://static.tigerbbs.com/11c94098dca042253950fa7972fcb17a","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/174641708","isVote":1,"tweetType":1,"viewCount":246,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":151087291,"gmtCreate":1625058134813,"gmtModify":1703735019086,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"bullish","listText":"bullish","text":"bullish","images":[{"img":"https://static.tigerbbs.com/c4b4a548c1b0231df82220d7e791baf8","width":"1080","height":"2872"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/151087291","isVote":1,"tweetType":1,"viewCount":307,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":151084700,"gmtCreate":1625058107400,"gmtModify":1703735017934,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/UEXCF\">$UEX Corp.(UEXCF)$</a>wiw","listText":"<a href=\"https://laohu8.com/S/UEXCF\">$UEX Corp.(UEXCF)$</a>wiw","text":"$UEX Corp.(UEXCF)$wiw","images":[{"img":"https://static.tigerbbs.com/087a0f7bbf32e98d3a18b6db4d99e19b","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/151084700","isVote":1,"tweetType":1,"viewCount":236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":159924855,"gmtCreate":1624937433977,"gmtModify":1703848378187,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"https://www.tigerbrokers.com.sg/activity/market/2021/7th-anniversary/*K86S6V-index.html?feature=Banner&amp;Page=Me&amp;lang=en_US&amp;skin=1&amp;edition=fundamental&amp;invite=K86S6V","listText":"https://www.tigerbrokers.com.sg/activity/market/2021/7th-anniversary/*K86S6V-index.html?feature=Banner&amp;Page=Me&amp;lang=en_US&amp;skin=1&amp;edition=fundamental&amp;invite=K86S6V","text":"https://www.tigerbrokers.com.sg/activity/market/2021/7th-anniversary/*K86S6V-index.html?feature=Banner&Page=Me&lang=en_US&skin=1&edition=fundamental&invite=K86S6V","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159924855","repostId":"1101350966","repostType":4,"repost":{"id":"1101350966","kind":"news","pubTimestamp":1624862779,"share":"https://ttm.financial/m/news/1101350966?lang=&edition=fundamental","pubTime":"2021-06-28 14:46","market":"us","language":"en","title":"Changes in This Year’s Russell Index Rebalancing Are Too Big to Ignore","url":"https://stock-news.laohu8.com/highlight/detail?id=1101350966","media":"Barrons","summary":"The set of FTSE Russell indexes—known most for measuring performance of large cap, small cap, value,","content":"<p>The set of FTSE Russell indexes—known most for measuring performance of large cap, small cap, value, and growth segments of the market—are rebalanced every year and for most investors it’s a non-event.</p>\n<p>If they take interest, it is mainly to see which stocks may gain or lose in terms of cash flows because they were added or dropped from a particular index. (This year&nbsp;GameStop&nbsp;is graduating&nbsp;to the large-cap Russell 1000 index, but&nbsp;AMC&nbsp;isn’t, for example).</p>\n<p>But for financial advisors who spend time on portfolio construction and need to benchmark their asset allocation decisions using these indexes, this year’s reconstitution could be a game changer. That’s mainly because market caps have grown so significantly in the past year.</p>\n<p>In fact, all advisors, even those who use model portfolios, should make sure they are conversant in these seismic market shifts:</p>\n<ul>\n <li><b>The total U.S. stock market is much bigger.</b>If you used $30 trillion as a rounding number, you’re now off by almost $20 trillion. According to Russell, the total U.S. equity market capitalization increased by 52% to nearly $48 trillion, as of May 2021. That’s up from $31 trillion in 2020.</li>\n <li><b>Large cap stocks are much larger (so are small-cap stocks).</b>If you think $1 billion in market cap makes a large-cap, you’re off by a few billion. As of this year, the market cap breakpoint separating the small-caps in the Russell 2000 Index and the large-caps in the Russell 1000 Index increased to $5.2 billion. That’s up from $3.0 billion in 2020—a massive 73% jump. Another sign of the times: The smallest company in the index is&nbsp;Velocity Financial&nbsp;with a market cap of $257 million. Last year’s smallest, Limestone Bancorp, had a market cap of $95 million.</li>\n <li><b>Even megacap stocks are bigger than you might think.</b>$200 billion in market cap doesn’t really constitute a megacap anymore. There are now four companies with more than a $1 trillion market cap. This year&nbsp;Alphabet&nbsp;joined&nbsp;Microsoft,Apple&nbsp;and&nbsp;Amazon,which reached the trillion mark in 2020.</li>\n <li><b>Yes, value really is outperforming growth.</b>But it’s more pronounced among smaller companies, according to Russell. The 2000 Value Index returned 79% compared to 50% for the Russell 2000 Growth through May. Looking just at large caps, the Russell 1000 Value had a total return of 44% versus the Russell 1000 Growth at 40%.</li>\n <li><b>Sectors are shifting.</b>For the large-cap Russell 1000, the sector shifts are relatively minor. Technology and consumer discretionary weights increased modestly. For the Russell 2000 Index, the most notable increase is in health care, while consumer discretionary decreased. Of the 43 IPOs added to the Russell 3000, about half are health care companies.</li>\n</ul>\n<p>Advisors who invest using passive index investing products (direct indexing is growing&nbsp;in popularity) should note changes to the index composition, as well as advisors who use indexes to benchmark success of active managers.</p>\n<p>“You need to make sure indexes are truly representative” of market segments, says Hilary Keitel, head of U.S. Wealth for FTSE Russell. “This allows financial advisors to fulfill a more precise asset allocation.”</p>\n<p>Russell spreads out the reconstitution over a month so broad market impact is limited. The first official Russell index lists were announced June 4. Indexes are scheduled for their 2021 reconstitution after the market closes on June 25. All additions and deletions are on the&nbsp;FTSE Russell website.</p>\n<p>Changes will impact more than $10.6 trillion in investor assets. “We anticipate this to be one of the largest trading days of the year in the U.S. markets,” says Catherine Yoshimoto, director of product management at FTSE Russell. “ETF product issuers keep a close eye on this,” she says. They aren’t the only ones.</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>Changes in This Year’s Russell Index Rebalancing Are Too Big to Ignore</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\">\nChanges in This Year’s Russell Index Rebalancing Are Too Big to Ignore\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 14:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/changes-in-this-years-russell-index-rebalancing-are-too-big-to-ignore-51624310730?mod=hp_DAY_Theme_1_3><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The set of FTSE Russell indexes—known most for measuring performance of large cap, small cap, value, and growth segments of the market—are rebalanced every year and for most investors it’s a non-event...</p>\n\n<a href=\"https://www.barrons.com/articles/changes-in-this-years-russell-index-rebalancing-are-too-big-to-ignore-51624310730?mod=hp_DAY_Theme_1_3\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/changes-in-this-years-russell-index-rebalancing-are-too-big-to-ignore-51624310730?mod=hp_DAY_Theme_1_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101350966","content_text":"The set of FTSE Russell indexes—known most for measuring performance of large cap, small cap, value, and growth segments of the market—are rebalanced every year and for most investors it’s a non-event.\nIf they take interest, it is mainly to see which stocks may gain or lose in terms of cash flows because they were added or dropped from a particular index. (This year GameStop is graduating to the large-cap Russell 1000 index, but AMC isn’t, for example).\nBut for financial advisors who spend time on portfolio construction and need to benchmark their asset allocation decisions using these indexes, this year’s reconstitution could be a game changer. That’s mainly because market caps have grown so significantly in the past year.\nIn fact, all advisors, even those who use model portfolios, should make sure they are conversant in these seismic market shifts:\n\nThe total U.S. stock market is much bigger.If you used $30 trillion as a rounding number, you’re now off by almost $20 trillion. According to Russell, the total U.S. equity market capitalization increased by 52% to nearly $48 trillion, as of May 2021. That’s up from $31 trillion in 2020.\nLarge cap stocks are much larger (so are small-cap stocks).If you think $1 billion in market cap makes a large-cap, you’re off by a few billion. As of this year, the market cap breakpoint separating the small-caps in the Russell 2000 Index and the large-caps in the Russell 1000 Index increased to $5.2 billion. That’s up from $3.0 billion in 2020—a massive 73% jump. Another sign of the times: The smallest company in the index is Velocity Financial with a market cap of $257 million. Last year’s smallest, Limestone Bancorp, had a market cap of $95 million.\nEven megacap stocks are bigger than you might think.$200 billion in market cap doesn’t really constitute a megacap anymore. There are now four companies with more than a $1 trillion market cap. This year Alphabet joined Microsoft,Apple and Amazon,which reached the trillion mark in 2020.\nYes, value really is outperforming growth.But it’s more pronounced among smaller companies, according to Russell. The 2000 Value Index returned 79% compared to 50% for the Russell 2000 Growth through May. Looking just at large caps, the Russell 1000 Value had a total return of 44% versus the Russell 1000 Growth at 40%.\nSectors are shifting.For the large-cap Russell 1000, the sector shifts are relatively minor. Technology and consumer discretionary weights increased modestly. For the Russell 2000 Index, the most notable increase is in health care, while consumer discretionary decreased. Of the 43 IPOs added to the Russell 3000, about half are health care companies.\n\nAdvisors who invest using passive index investing products (direct indexing is growing in popularity) should note changes to the index composition, as well as advisors who use indexes to benchmark success of active managers.\n“You need to make sure indexes are truly representative” of market segments, says Hilary Keitel, head of U.S. Wealth for FTSE Russell. “This allows financial advisors to fulfill a more precise asset allocation.”\nRussell spreads out the reconstitution over a month so broad market impact is limited. The first official Russell index lists were announced June 4. Indexes are scheduled for their 2021 reconstitution after the market closes on June 25. All additions and deletions are on the FTSE Russell website.\nChanges will impact more than $10.6 trillion in investor assets. “We anticipate this to be one of the largest trading days of the year in the U.S. markets,” says Catherine Yoshimoto, director of product management at FTSE Russell. “ETF product issuers keep a close eye on this,” she says. They aren’t the only ones.","news_type":1},"isVote":1,"tweetType":1,"viewCount":339,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159928987,"gmtCreate":1624937167049,"gmtModify":1703848372948,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159928987","repostId":"2146900754","repostType":4,"isVote":1,"tweetType":1,"viewCount":299,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159928058,"gmtCreate":1624937150274,"gmtModify":1703848372624,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159928058","repostId":"1164912248","repostType":4,"isVote":1,"tweetType":1,"viewCount":516,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159921680,"gmtCreate":1624937136140,"gmtModify":1703848371815,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159921680","repostId":"2146877158","repostType":4,"repost":{"id":"2146877158","kind":"highlight","pubTimestamp":1624879777,"share":"https://ttm.financial/m/news/2146877158?lang=&edition=fundamental","pubTime":"2021-06-28 19:29","market":"us","language":"en","title":"4 Dow Stocks Billionaire Money Managers Can't Stop Buying","url":"https://stock-news.laohu8.com/highlight/detail?id=2146877158","media":"Motley Fool","summary":"Some of the world's most successful money managers have been piling into these well-known businesses.","content":"<p>For more than 125 years, the <b>Dow Jones Industrial Average</b> (DJINDICES:^DJI) has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the most widely followed stock indexes in the world. Though far from perfect -- it's a price-weighted index instead of market cap-weighted -- the Dow Jones is comprised of 30 time-tested and successful multinational companies that have helped lead it higher.</p>\n<p>Given the long-tenured success of its components, we shouldn't be surprised to see billionaire money managers putting their money to work in Dow components. In particular, billionaires can't stop buying the following four Dow stocks, based on Form 13F filings with the Securities and Exchange Commission for the first quarter.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2e4fd91ccb7d74ef87a77081ef701b59\" tg-width=\"700\" tg-height=\"486\"><span>Image source: Getty Images.</span></p>\n<h2>Microsoft</h2>\n<p>Last week, <b>Microsoft</b> (NASDAQ:MSFT) entered a very exclusive club: It became only the second publicly traded company to surpass a $2 trillion market cap, along with <b>Apple</b>. But its rising valuation hasn't deterred billionaires. Larry Fink's <b>BlackRock</b>, Chase Coleman's Tiger Global Management, and Jeff Yass's Susquehanna International respectively scooped up 3.14 million shares, 1.83 million shares, and 1.81 million shares in the first quarter. For Susquehanna, it more than doubled the company's previous stake.</p>\n<p>The fascination with Microsoft boils down to three factors. First, there's a lot of excitement surrounding Old Softy's push into the cloud. Cloud infrastructure service Azure grew sales by 50% in the March-ended quarter, with most of the company's other cloud-based segments (Office commercial, Dynamics, and Windows) increasing their sales by double-digits.</p>\n<p>Second, Microsoft's legacy operations are still cash cows. Even though Windows and Office aren't the insane growth stories they once were, Windows remains the dominant operating platform for PCs. These may be slower-growing segments, but the margins remain robust.</p>\n<p>Third and finally, Microsoft's large cash pile and abundant cash flow afford it the opportunity to lean on inorganic growth opportunities. Though not all acquisitions will be winners, a few home runs is all it takes for Microsoft to keep up its double-digit growth rate.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b13f98298635a74f4491a99bf47eeded\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2><a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a></h2>\n<p>Another Dow stock that has the full attention of billionaire money managers is pharmacy chain <b>Walgreens Boots Alliance</b> (NASDAQ:WBA). The company with the smallest influence within the Dow saw BlackRock buy 6.91 million shares in Q1 2021. Additionally, Ole Andreas Havlorsen's Viking Global added 1.72 million shares, while Jim Simons' Renaissance Technologies added 211,000 shares.</p>\n<p>Why Walgreens? The answer is that we're on the cusp of seeing the company's multipoint turnaround plan take shape. Management expects more than $2 billion in annual cost savings by fiscal 2022, but has also been aggressively reinvesting in digitization efforts. A beefed up online presence has an opportunity to really jump-start Walgreens' top-line growth.</p>\n<p>Perhaps more exciting is Walgreens partnering up with VillageMD. The duo aims to open up to 700 full-service clinics throughout the United States. Whereas most health clinics inside pharmacy chains can't handle more than a vaccine or sniffle, Walgreens' focus on full-service treatment is aimed at drawing in patients with chronic illnesses. Let's not forget that Walgreens' pharmacy is its top-tier margin driver. This partnership should help improve brand loyalty and could funnel more prescriptions to its pharmacies.</p>\n<p>Furthermore, Walgreens remains relatively inexpensive. Despite the <b>S&amp;P 500</b>'s Shiller price-to-earnings ratio nearing a two-decade high, shares of Walgreens Boots Alliance can be nabbed for a very reasonable 10 times Wall Street's consensus earnings for next year.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8db519446ea812ab6b8023df3f60f0c3\" tg-width=\"700\" tg-height=\"393\"><span>Image source: Getty Images.</span></p>\n<h2><a href=\"https://laohu8.com/S/IBM\">IBM</a></h2>\n<p>Given its nearly decade-long underperformance, this may come a shock, but <b>IBM</b> (NYSE:IBM) -- <i>yes</i>, IBM -- has been an extremely popular buy among billionaire money managers. BlackRock, Renaissance Technologies, Susquehanna, and Ken Griffin's Citadel Advisors, respectively purchased 2.01 million shares, 1.11 million shares, 147,000 shares, and 198,000 shares during the first quarter.</p>\n<p>For years, the issue with IBM was its delayed entrance into cloud computing. Relying on hardware and static software was highly profitable for a long time. But beginning in the early 2010s, it became a drag for Big Blue, leading to a multiyear sales decline. The good news is that, through internal innovation and a series of acquisitions, IBM's growth engine looks to be headed in the right direction, once again.</p>\n<p>With a renewed focus on hybrid cloud services, IBM has an opportunity to become a major player in big-data processing. Its hybrid cloud solutions are also particularly useful in a work environment that's become increasingly mobile and remote. During the March-ended quarter, IBM's cloud revenue jumped 21% from the prior-year period, and it accounted for 37% of total sales.</p>\n<p>Another factor that tends to get overlooked is IBM has done an excellent job of tapering expenses at its legacy operations to preserve margins and cash flow. Though these are generally stagnant operating segments, margins have been flat or rising. This gives IBM more capital to make acquisitions and pay its juicy 4.5% dividend yield.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/07a7199c92cdbda4868c801c72e43aa1\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Verizon Communications</h2>\n<p>The final Dow stock billionaire money managers can't stop buying is arguably the least volatile component within the iconic index: <b>Verizon</b> (NYSE:VZ). During the first quarter, Warren Buffett's <b>Berkshire Hathaway</b>&nbsp;gobbled up 12.11 million shares, BlackRock added 6.62 million shares, and Susquehanna almost tripled its stake by purchasing 3.36 million shares.</p>\n<p>The reason billionaires are buying likely boils down to two factors. First, Verizon may well be the safest high-yield dividend stock on the planet. The wireless services it provides generates highly predictable cash flow. With minimal volatility and a 4.5% yield, it appears to be a far more attractive place for institutional investors to park their cash than just leaving it under the proverbial mattress.</p>\n<p>The other factor here is that Verizon does have two organic growth catalysts working in its favor. The bigger of the two is the ongoing rollout of 5G wireless infrastructure. It's been a decade since wireless download speeds have improved, which means we should see a multiyear tech upgrade cycle for businesses and consumers. Because Verizon generates healthy margins from wireless data consumption, its investments in 5G should pay off handsomely.</p>\n<p>Verizon also acquired 5G midband spectrum that'll it be using to grow its in-home broadband offerings. By 2023, the company is aiming for 30 million residential broadband customers.</p>\n<p>Verizon will never be the growth stock it once was, but it has <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the safest floors of any publicly traded company.</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 Dow Stocks Billionaire Money Managers Can't Stop Buying</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 Dow Stocks Billionaire Money Managers Can't Stop Buying\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 19:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/28/4-dow-stocks-billionaire-money-managers-are-buying/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>For more than 125 years, the Dow Jones Industrial Average (DJINDICES:^DJI) has been one of the most widely followed stock indexes in the world. Though far from perfect -- it's a price-weighted index ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/28/4-dow-stocks-billionaire-money-managers-are-buying/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MSFT":"微软","VZ":"威瑞森","IBM":"IBM","WBA":"沃尔格林联合博姿"},"source_url":"https://www.fool.com/investing/2021/06/28/4-dow-stocks-billionaire-money-managers-are-buying/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146877158","content_text":"For more than 125 years, the Dow Jones Industrial Average (DJINDICES:^DJI) has been one of the most widely followed stock indexes in the world. Though far from perfect -- it's a price-weighted index instead of market cap-weighted -- the Dow Jones is comprised of 30 time-tested and successful multinational companies that have helped lead it higher.\nGiven the long-tenured success of its components, we shouldn't be surprised to see billionaire money managers putting their money to work in Dow components. In particular, billionaires can't stop buying the following four Dow stocks, based on Form 13F filings with the Securities and Exchange Commission for the first quarter.\nImage source: Getty Images.\nMicrosoft\nLast week, Microsoft (NASDAQ:MSFT) entered a very exclusive club: It became only the second publicly traded company to surpass a $2 trillion market cap, along with Apple. But its rising valuation hasn't deterred billionaires. Larry Fink's BlackRock, Chase Coleman's Tiger Global Management, and Jeff Yass's Susquehanna International respectively scooped up 3.14 million shares, 1.83 million shares, and 1.81 million shares in the first quarter. For Susquehanna, it more than doubled the company's previous stake.\nThe fascination with Microsoft boils down to three factors. First, there's a lot of excitement surrounding Old Softy's push into the cloud. Cloud infrastructure service Azure grew sales by 50% in the March-ended quarter, with most of the company's other cloud-based segments (Office commercial, Dynamics, and Windows) increasing their sales by double-digits.\nSecond, Microsoft's legacy operations are still cash cows. Even though Windows and Office aren't the insane growth stories they once were, Windows remains the dominant operating platform for PCs. These may be slower-growing segments, but the margins remain robust.\nThird and finally, Microsoft's large cash pile and abundant cash flow afford it the opportunity to lean on inorganic growth opportunities. Though not all acquisitions will be winners, a few home runs is all it takes for Microsoft to keep up its double-digit growth rate.\nImage source: Getty Images.\nWalgreens Boots Alliance\nAnother Dow stock that has the full attention of billionaire money managers is pharmacy chain Walgreens Boots Alliance (NASDAQ:WBA). The company with the smallest influence within the Dow saw BlackRock buy 6.91 million shares in Q1 2021. Additionally, Ole Andreas Havlorsen's Viking Global added 1.72 million shares, while Jim Simons' Renaissance Technologies added 211,000 shares.\nWhy Walgreens? The answer is that we're on the cusp of seeing the company's multipoint turnaround plan take shape. Management expects more than $2 billion in annual cost savings by fiscal 2022, but has also been aggressively reinvesting in digitization efforts. A beefed up online presence has an opportunity to really jump-start Walgreens' top-line growth.\nPerhaps more exciting is Walgreens partnering up with VillageMD. The duo aims to open up to 700 full-service clinics throughout the United States. Whereas most health clinics inside pharmacy chains can't handle more than a vaccine or sniffle, Walgreens' focus on full-service treatment is aimed at drawing in patients with chronic illnesses. Let's not forget that Walgreens' pharmacy is its top-tier margin driver. This partnership should help improve brand loyalty and could funnel more prescriptions to its pharmacies.\nFurthermore, Walgreens remains relatively inexpensive. Despite the S&P 500's Shiller price-to-earnings ratio nearing a two-decade high, shares of Walgreens Boots Alliance can be nabbed for a very reasonable 10 times Wall Street's consensus earnings for next year.\nImage source: Getty Images.\nIBM\nGiven its nearly decade-long underperformance, this may come a shock, but IBM (NYSE:IBM) -- yes, IBM -- has been an extremely popular buy among billionaire money managers. BlackRock, Renaissance Technologies, Susquehanna, and Ken Griffin's Citadel Advisors, respectively purchased 2.01 million shares, 1.11 million shares, 147,000 shares, and 198,000 shares during the first quarter.\nFor years, the issue with IBM was its delayed entrance into cloud computing. Relying on hardware and static software was highly profitable for a long time. But beginning in the early 2010s, it became a drag for Big Blue, leading to a multiyear sales decline. The good news is that, through internal innovation and a series of acquisitions, IBM's growth engine looks to be headed in the right direction, once again.\nWith a renewed focus on hybrid cloud services, IBM has an opportunity to become a major player in big-data processing. Its hybrid cloud solutions are also particularly useful in a work environment that's become increasingly mobile and remote. During the March-ended quarter, IBM's cloud revenue jumped 21% from the prior-year period, and it accounted for 37% of total sales.\nAnother factor that tends to get overlooked is IBM has done an excellent job of tapering expenses at its legacy operations to preserve margins and cash flow. Though these are generally stagnant operating segments, margins have been flat or rising. This gives IBM more capital to make acquisitions and pay its juicy 4.5% dividend yield.\nImage source: Getty Images.\nVerizon Communications\nThe final Dow stock billionaire money managers can't stop buying is arguably the least volatile component within the iconic index: Verizon (NYSE:VZ). During the first quarter, Warren Buffett's Berkshire Hathaway gobbled up 12.11 million shares, BlackRock added 6.62 million shares, and Susquehanna almost tripled its stake by purchasing 3.36 million shares.\nThe reason billionaires are buying likely boils down to two factors. First, Verizon may well be the safest high-yield dividend stock on the planet. The wireless services it provides generates highly predictable cash flow. With minimal volatility and a 4.5% yield, it appears to be a far more attractive place for institutional investors to park their cash than just leaving it under the proverbial mattress.\nThe other factor here is that Verizon does have two organic growth catalysts working in its favor. The bigger of the two is the ongoing rollout of 5G wireless infrastructure. It's been a decade since wireless download speeds have improved, which means we should see a multiyear tech upgrade cycle for businesses and consumers. Because Verizon generates healthy margins from wireless data consumption, its investments in 5G should pay off handsomely.\nVerizon also acquired 5G midband spectrum that'll it be using to grow its in-home broadband offerings. By 2023, the company is aiming for 30 million residential broadband customers.\nVerizon will never be the growth stock it once was, but it has one of the safest floors of any publicly traded company.","news_type":1},"isVote":1,"tweetType":1,"viewCount":290,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159921037,"gmtCreate":1624937122629,"gmtModify":1703848370839,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159921037","repostId":"2146983887","repostType":4,"repost":{"id":"2146983887","kind":"highlight","pubTimestamp":1624886639,"share":"https://ttm.financial/m/news/2146983887?lang=&edition=fundamental","pubTime":"2021-06-28 21:23","market":"us","language":"en","title":"3 Stocks That Could Make You Much Richer Over the Long Run Than AMC Will","url":"https://stock-news.laohu8.com/highlight/detail?id=2146983887","media":"Motley Fool","summary":"No, they won't deliver the returns going forward that AMC has so far this year. But neither will AMC.","content":"<p>If you'd invested $10,000 in&nbsp;<b>AMC Entertainment</b> (NYSE:AMC) roughly six months ago, you'd have more than $250,000 right now. That's a staggering return that any investor would love to make.</p>\n<p>However, there's something important to consider before buying AMC stock right now: Investing is focused on the future, not the past. Shares of the movie theater chain aren't going to generate those kinds of gains going forward. If they did, AMC would soon be more than three times bigger than <b>Apple</b>. That's extremely unlikely, to say the least.</p>\n<p>Still, it's possible that AMC will continue performing well (albeit not anywhere near its recent levels) over the next year or two as moviegoers return to theaters. The stock has made some investors quite wealthy over the last few months. But here are three stocks that could make you much richer over the long term than AMC will.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9cf5e28ce06825d2bfd9ebed7c7a4d8f\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Etsy</h2>\n<p><b>Etsy</b>'s (NASDAQ:ETSY) market cap of $23 billion is well below AMC's market cap of close to $29 billion. I'd argue that the popular e-commerce company has a much greater long-term opportunity than AMC does, though.</p>\n<p>First of all, Etsy practically owns the niche online market in personalized handcrafted goods. Others have attempted to beat the company on its own turf but have failed. There are still significant growth opportunities in this $250 billion annual market.</p>\n<p>However, the pandemic showed Etsy more than ever that it can compete in a larger arena. The company now thinks that its total addressable market is close to $1.7 trillion.</p>\n<p>One way that Etsy is going after this expanded market is through acquisitions. Most recently, the company announced plans to acquire Depop for $1.6 billion, a move that vaults Etsy into the clothing resale business.</p>\n<p>I think that Etsy is a stock that could be a 10-bagger over the long run. The odds of AMC having that level of gains going forward are slim.</p>\n<h2>Innovative Industrial Properties</h2>\n<p>Speaking of big market opportunities, the U.S. medical cannabis market is growing by leaps and bounds. So far, 36 states have legalized medical cannabis.&nbsp;<b>Innovative Industrial Properties</b> (NYSE:IIPR) stands out as a key beneficiary from this growth.</p>\n<p>The company is the leading real estate investment trust (REIT) focused on the medical cannabis industry. IIP's forte is sale-leaseback transactions. In these deals, the REIT buys properties from cannabis operators. The operators then lease the properties back with a long-term lease agreement.</p>\n<p>Over the last three years, IIP's revenue has soared 1,300%. Its profits have skyrocketed more than 2,200%. Investors have also made even more money from the company's dividends.</p>\n<p>IIP currently owns 72 properties in 18 states. It should be able to continue growing briskly by making more sale-leaseback deals in those states (which include several of the biggest medical cannabis markets in the U.S.) as well as expanding into additional states.</p>\n<h2>Intuitive Surgical</h2>\n<p>I recently wrote about my top stock to buy in June. My pick was robotic surgical systems pioneer <b>Intuitive Surgical</b> (NASDAQ:ISRG).</p>\n<p>Like AMC, Intuitive Surgical is a reopening play. Just as the COVID-19 pandemic shut down theaters, it also significantly impacted the volumes of non-emergency surgical procedures. Intuitive generates most of its revenue from selling replacement instruments and accessories for its da Vinci robotic surgical systems. Lower numbers of procedures meant lower revenue for the company.</p>\n<p>Prior to the pandemic, the number of movie tickets sold was declining. That's a not-so-great trend for AMC that could rear its ugly head again after a rebound in 2021 and 2022. Intuitive's procedure volume, though, has risen steadily for quite a while. Even with the pandemic, procedures still increased 1% year over year in 2020.</p>\n<p>Intuitive's long-term prospects are the main reason why I like this stock, though. The company has a huge growth opportunity targeting the procedures where it already has regulatory clearances. Even better, Intuitive thinks that it can more than triple its current addressable market by launching new products and securing additional regulatory clearances.</p>\n<p>Sure, Intuitive Surgical is already a big company with a market cap of over $100 billion. I think that it will be able to become a much larger company over the next decade and make investors who buy and hold the stock a lot of money.</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>3 Stocks That Could Make You Much Richer Over the Long Run Than AMC Will</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Stocks That Could Make You Much Richer Over the Long Run Than AMC Will\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 21:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/28/3-stocks-make-you-richer-long-term-than-amc/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you'd invested $10,000 in AMC Entertainment (NYSE:AMC) roughly six months ago, you'd have more than $250,000 right now. That's a staggering return that any investor would love to make.\nHowever, ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/28/3-stocks-make-you-richer-long-term-than-amc/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ETSY":"Etsy, Inc.","IIPR":"Innovative Industrial Properties Inc","ISRG":"直觉外科公司"},"source_url":"https://www.fool.com/investing/2021/06/28/3-stocks-make-you-richer-long-term-than-amc/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146983887","content_text":"If you'd invested $10,000 in AMC Entertainment (NYSE:AMC) roughly six months ago, you'd have more than $250,000 right now. That's a staggering return that any investor would love to make.\nHowever, there's something important to consider before buying AMC stock right now: Investing is focused on the future, not the past. Shares of the movie theater chain aren't going to generate those kinds of gains going forward. If they did, AMC would soon be more than three times bigger than Apple. That's extremely unlikely, to say the least.\nStill, it's possible that AMC will continue performing well (albeit not anywhere near its recent levels) over the next year or two as moviegoers return to theaters. The stock has made some investors quite wealthy over the last few months. But here are three stocks that could make you much richer over the long term than AMC will.\nImage source: Getty Images.\nEtsy\nEtsy's (NASDAQ:ETSY) market cap of $23 billion is well below AMC's market cap of close to $29 billion. I'd argue that the popular e-commerce company has a much greater long-term opportunity than AMC does, though.\nFirst of all, Etsy practically owns the niche online market in personalized handcrafted goods. Others have attempted to beat the company on its own turf but have failed. There are still significant growth opportunities in this $250 billion annual market.\nHowever, the pandemic showed Etsy more than ever that it can compete in a larger arena. The company now thinks that its total addressable market is close to $1.7 trillion.\nOne way that Etsy is going after this expanded market is through acquisitions. Most recently, the company announced plans to acquire Depop for $1.6 billion, a move that vaults Etsy into the clothing resale business.\nI think that Etsy is a stock that could be a 10-bagger over the long run. The odds of AMC having that level of gains going forward are slim.\nInnovative Industrial Properties\nSpeaking of big market opportunities, the U.S. medical cannabis market is growing by leaps and bounds. So far, 36 states have legalized medical cannabis. Innovative Industrial Properties (NYSE:IIPR) stands out as a key beneficiary from this growth.\nThe company is the leading real estate investment trust (REIT) focused on the medical cannabis industry. IIP's forte is sale-leaseback transactions. In these deals, the REIT buys properties from cannabis operators. The operators then lease the properties back with a long-term lease agreement.\nOver the last three years, IIP's revenue has soared 1,300%. Its profits have skyrocketed more than 2,200%. Investors have also made even more money from the company's dividends.\nIIP currently owns 72 properties in 18 states. It should be able to continue growing briskly by making more sale-leaseback deals in those states (which include several of the biggest medical cannabis markets in the U.S.) as well as expanding into additional states.\nIntuitive Surgical\nI recently wrote about my top stock to buy in June. My pick was robotic surgical systems pioneer Intuitive Surgical (NASDAQ:ISRG).\nLike AMC, Intuitive Surgical is a reopening play. Just as the COVID-19 pandemic shut down theaters, it also significantly impacted the volumes of non-emergency surgical procedures. Intuitive generates most of its revenue from selling replacement instruments and accessories for its da Vinci robotic surgical systems. Lower numbers of procedures meant lower revenue for the company.\nPrior to the pandemic, the number of movie tickets sold was declining. That's a not-so-great trend for AMC that could rear its ugly head again after a rebound in 2021 and 2022. Intuitive's procedure volume, though, has risen steadily for quite a while. Even with the pandemic, procedures still increased 1% year over year in 2020.\nIntuitive's long-term prospects are the main reason why I like this stock, though. The company has a huge growth opportunity targeting the procedures where it already has regulatory clearances. Even better, Intuitive thinks that it can more than triple its current addressable market by launching new products and securing additional regulatory clearances.\nSure, Intuitive Surgical is already a big company with a market cap of over $100 billion. I think that it will be able to become a much larger company over the next decade and make investors who buy and hold the stock a lot of money.","news_type":1},"isVote":1,"tweetType":1,"viewCount":236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159923558,"gmtCreate":1624937111474,"gmtModify":1703848370678,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"waah","listText":"waah","text":"waah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159923558","repostId":"1148481357","repostType":4,"repost":{"id":"1148481357","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":1624888651,"share":"https://ttm.financial/m/news/1148481357?lang=&edition=fundamental","pubTime":"2021-06-28 21:57","market":"us","language":"en","title":"Meme stocks are blazing hot, once again.","url":"https://stock-news.laohu8.com/highlight/detail?id=1148481357","media":"Tiger Newspress","summary":"Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath & Beyond climbed be","content":"<p>Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath &amp; Beyond climbed between 5% and 7%.</p>\n<p><img src=\"https://static.tigerbbs.com/fb2694f87fdac29278fbf2a583a1bf36\" tg-width=\"390\" tg-height=\"743\" referrerpolicy=\"no-referrer\"></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>Meme stocks are blazing hot, once again.</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\">\nMeme stocks are blazing hot, once again.\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\">2021-06-28 21:57</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath &amp; Beyond climbed between 5% and 7%.</p>\n<p><img src=\"https://static.tigerbbs.com/fb2694f87fdac29278fbf2a583a1bf36\" tg-width=\"390\" tg-height=\"743\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WKHS":"Workhorse Group, Inc.","GME":"游戏驿站","BBBY":"3B家居","AMC":"AMC院线"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148481357","content_text":"Meme stocks are blazing hot, once again.CCIV,Workhorse,GameStop,AMC and Bed Bath & Beyond climbed between 5% and 7%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":300,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159916868,"gmtCreate":1624935467154,"gmtModify":1703848331650,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"moo","listText":"moo","text":"moo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/159916868","repostId":"2146025230","repostType":4,"isVote":1,"tweetType":1,"viewCount":219,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127654142,"gmtCreate":1624847625586,"gmtModify":1703846095757,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"woawlawoa","listText":"woawlawoa","text":"woawlawoa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127654142","repostId":"2146021046","repostType":4,"repost":{"id":"2146021046","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":1624589404,"share":"https://ttm.financial/m/news/2146021046?lang=&edition=fundamental","pubTime":"2021-06-25 10:50","market":"fut","language":"en","title":"Bitcoin to become legal tender in El Salvador on Sept 7","url":"https://stock-news.laohu8.com/highlight/detail?id=2146021046","media":"Reuters","summary":"SAN SALVADOR, June 24 (Reuters) - El Salvador's President Nayib Bukele said in a national address on","content":"<p>SAN SALVADOR, June 24 (Reuters) - El Salvador's President Nayib Bukele said in a national address on Thursday that a recently passed law making bitcoin legal tender will take effect on Sept. 7, noting that its use will be optional.</p>\n<p>El Salvador's Congress on June 9 approved Bukele's proposal to embrace the cryptocurrency, making El Salvador the first country in the world to adopt bitcoin as legal tender.</p>\n<p>\"The use of bitcoin will be optional, nobody will receive bitcoin if they don't want it... If someone receives a payment in bitcoin they can choose to automatically receive it in dollars,\" said Bukele.</p>\n<p>Salaries and pensions will continue to be paid in U.S. dollars, said Bukele, without specifying if that included salaries paid to state workers and private sector employees.</p>\n<p>Earlier in the day Athena Bitcoin said it plans to invest over $1 million to install some 1,500 cryptocurrency ATMs in El Salvador, especially where residents receive remittances from abroad.</p>\n<p>According to Athena Bitcoin's website, the ATMs can be used to buy bitcoins or sell them for cash.</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>Bitcoin to become legal tender in El Salvador on Sept 7</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\">\nBitcoin to become legal tender in El Salvador on Sept 7\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-25 10:50</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>SAN SALVADOR, June 24 (Reuters) - El Salvador's President Nayib Bukele said in a national address on Thursday that a recently passed law making bitcoin legal tender will take effect on Sept. 7, noting that its use will be optional.</p>\n<p>El Salvador's Congress on June 9 approved Bukele's proposal to embrace the cryptocurrency, making El Salvador the first country in the world to adopt bitcoin as legal tender.</p>\n<p>\"The use of bitcoin will be optional, nobody will receive bitcoin if they don't want it... If someone receives a payment in bitcoin they can choose to automatically receive it in dollars,\" said Bukele.</p>\n<p>Salaries and pensions will continue to be paid in U.S. dollars, said Bukele, without specifying if that included salaries paid to state workers and private sector employees.</p>\n<p>Earlier in the day Athena Bitcoin said it plans to invest over $1 million to install some 1,500 cryptocurrency ATMs in El Salvador, especially where residents receive remittances from abroad.</p>\n<p>According to Athena Bitcoin's website, the ATMs can be used to buy bitcoins or sell them for cash.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146021046","content_text":"SAN SALVADOR, June 24 (Reuters) - El Salvador's President Nayib Bukele said in a national address on Thursday that a recently passed law making bitcoin legal tender will take effect on Sept. 7, noting that its use will be optional.\nEl Salvador's Congress on June 9 approved Bukele's proposal to embrace the cryptocurrency, making El Salvador the first country in the world to adopt bitcoin as legal tender.\n\"The use of bitcoin will be optional, nobody will receive bitcoin if they don't want it... If someone receives a payment in bitcoin they can choose to automatically receive it in dollars,\" said Bukele.\nSalaries and pensions will continue to be paid in U.S. dollars, said Bukele, without specifying if that included salaries paid to state workers and private sector employees.\nEarlier in the day Athena Bitcoin said it plans to invest over $1 million to install some 1,500 cryptocurrency ATMs in El Salvador, especially where residents receive remittances from abroad.\nAccording to Athena Bitcoin's website, the ATMs can be used to buy bitcoins or sell them for cash.","news_type":1},"isVote":1,"tweetType":1,"viewCount":280,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127655016,"gmtCreate":1624847562935,"gmtModify":1703846094115,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"owowowowwo","listText":"owowowowwo","text":"owowowowwo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127655016","repostId":"1104882070","repostType":4,"repost":{"id":"1104882070","kind":"news","pubTimestamp":1624589020,"share":"https://ttm.financial/m/news/1104882070?lang=&edition=fundamental","pubTime":"2021-06-25 10:43","market":"us","language":"en","title":"FedEx is falling despite beating earnings expectations; UPS drops too","url":"https://stock-news.laohu8.com/highlight/detail?id=1104882070","media":"seekingalpha","summary":"FedEx(NYSE:FDX)trades lower even after FQ4 revenue and profit arrived ahead of expectations. Guidanc","content":"<ul>\n <li>FedEx(NYSE:FDX)trades lower even after&nbsp;FQ4&nbsp;revenue and profit arrived ahead of expectations. Guidance for capital spending of $7.2B this year by the company may be the key pullout of the report.</li>\n <li>Operating income rose 9% Y/Y to $1.97B during the quarter on an adjusted basis and the company reported an operating margin rate of 8.7% vs. 5.2% a year ago and 8.9% consensus. Improved network optimization and asset utilization enabled profit growth even with volume at a record.</li>\n <li>FedEx Ground reported revenue growth of 27% for the quarter. The revenue increase was primarily driven by strong growth in business-to-business shipments and a 14% rise in revenue per package.</li>\n <li>Looking ahead, FedEx sees EPS of $20.50 to $21.50 for the full year vs $20.48 consensus. The profit guidance is before MTM retirement plan accounting adjustments and excludes estimated TNT Express integration expenses and costs associated with business realignment activities. \"We expect continued strong momentum in fiscal 2022, and our investments are focused on the areas of greatest growth and highest returns, like e-commerce, to position us for sustained long-term growth in earnings, cash flows, and returns,\" says CFO Michael Lenz.</li>\n <li>Shares of FedEx aredown 4.04%AH to $291.50.UPSis&nbsp;down 2.25%.</li>\n <li>The FedEx conference call is likely to delve into thenetwork congestion issues the company has seen over the last few weeks.</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>FedEx is falling despite beating earnings expectations; UPS drops too</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFedEx is falling despite beating earnings expectations; UPS drops too\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 10:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3709888-fedex-lower-after-earnings-beat-isnt-decisive-enough-ups-falls-too><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>FedEx(NYSE:FDX)trades lower even after FQ4 revenue and profit arrived ahead of expectations. Guidance for capital spending of $7.2B this year by the company may be the key pullout of the report.\n...</p>\n\n<a href=\"https://seekingalpha.com/news/3709888-fedex-lower-after-earnings-beat-isnt-decisive-enough-ups-falls-too\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FDX":"联邦快递","UPS":"联合包裹"},"source_url":"https://seekingalpha.com/news/3709888-fedex-lower-after-earnings-beat-isnt-decisive-enough-ups-falls-too","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1104882070","content_text":"FedEx(NYSE:FDX)trades lower even after FQ4 revenue and profit arrived ahead of expectations. Guidance for capital spending of $7.2B this year by the company may be the key pullout of the report.\nOperating income rose 9% Y/Y to $1.97B during the quarter on an adjusted basis and the company reported an operating margin rate of 8.7% vs. 5.2% a year ago and 8.9% consensus. Improved network optimization and asset utilization enabled profit growth even with volume at a record.\nFedEx Ground reported revenue growth of 27% for the quarter. The revenue increase was primarily driven by strong growth in business-to-business shipments and a 14% rise in revenue per package.\nLooking ahead, FedEx sees EPS of $20.50 to $21.50 for the full year vs $20.48 consensus. The profit guidance is before MTM retirement plan accounting adjustments and excludes estimated TNT Express integration expenses and costs associated with business realignment activities. \"We expect continued strong momentum in fiscal 2022, and our investments are focused on the areas of greatest growth and highest returns, like e-commerce, to position us for sustained long-term growth in earnings, cash flows, and returns,\" says CFO Michael Lenz.\nShares of FedEx aredown 4.04%AH to $291.50.UPSis down 2.25%.\nThe FedEx conference call is likely to delve into thenetwork congestion issues the company has seen over the last few weeks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":210,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127666628,"gmtCreate":1624846600864,"gmtModify":1703846063045,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"woawwwaaaa","listText":"woawwwaaaa","text":"woawwwaaaa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127666628","repostId":"1180366049","repostType":4,"repost":{"id":"1180366049","kind":"news","pubTimestamp":1624598362,"share":"https://ttm.financial/m/news/1180366049?lang=&edition=fundamental","pubTime":"2021-06-25 13:19","market":"us","language":"en","title":"Panasonic sells Tesla stake for $3.6 billion, may use cash for strategic investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1180366049","media":"Reuters","summary":"TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion","content":"<p>TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion yen ($3.61 billion) in the year ended March, a spokesperson for the Japanese company said on Friday.</p>\n<p>The sale comes as the bicycles-to-hair dryers conglomerate is seeking to reduce its dependence on Tesla and raise cash for investing in growth.</p>\n<p>Panasonic’s battery business is dominated by Elon Musk’s Tesla, but the two firms have had a tense relationship at times with executives trading barbs publicly.</p>\n<p>Panasonic bought 1.4 million Tesla shares at $21.15 each in 2010 for about $30 million. That stake was worth $730 million at the end of March 2020. The shares have gained almost seven fold since then and closed up 3.5% at $679.82 apiece on Thursday.</p>\n<p>“The impact of crypto assets may have pushed Tesla’s share price above its intrinsic value, making it a good time to sell,” said Hideki Yasuda, an analyst at Ace Research Institute.</p>\n<p>Musk said in February his firm bought bitcoin and would take payment in the cryptocurrency, a decision he later reversed, and his comments on Twitter drive swings in the price of such assets.</p>\n<p>While Panasonic gave financial backing to Tesla when it was smaller, the automaker’s expansion means there’s no need for capital ties, Yasuda added. Panasonic’s shares were up 4.2% on Friday.</p>\n<p>The stake sale will not affect the partnership with Tesla, the Panasonic spokesperson said, but comes as the automaker is diversifying its own battery supply chain.</p>\n<p>Tesla has struck deals with South Korea’s LG Energy Solution, a unit of LG Chem, and China’s CATL, with Reuters reporting the latter is planning a plant in Shanghai near the automaker’s production base.</p>\n<p>Panasonic said earlier this year it would buy the shareshereof U.S. supply-chain software company Blue Yonder that it does not already own, in a $7.1 billion deal. Its biggest such deal in a decade, the price raised the eyebrows of analysts who pointed to the firm's spotty M&amp;A track record.</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>Panasonic sells Tesla stake for $3.6 billion, may use cash for strategic investments</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\">\nPanasonic sells Tesla stake for $3.6 billion, may use cash for strategic investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 13:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/panasonic-tesla/update-4-panasonic-sells-tesla-stake-for-3-6-bln-may-use-cash-for-strategic-investments-idUSL2N2O6374><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion yen ($3.61 billion) in the year ended March, a spokesperson for the Japanese company said on Friday...</p>\n\n<a href=\"https://www.reuters.com/article/panasonic-tesla/update-4-panasonic-sells-tesla-stake-for-3-6-bln-may-use-cash-for-strategic-investments-idUSL2N2O6374\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","PCRFY":"松下"},"source_url":"https://www.reuters.com/article/panasonic-tesla/update-4-panasonic-sells-tesla-stake-for-3-6-bln-may-use-cash-for-strategic-investments-idUSL2N2O6374","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180366049","content_text":"TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion yen ($3.61 billion) in the year ended March, a spokesperson for the Japanese company said on Friday.\nThe sale comes as the bicycles-to-hair dryers conglomerate is seeking to reduce its dependence on Tesla and raise cash for investing in growth.\nPanasonic’s battery business is dominated by Elon Musk’s Tesla, but the two firms have had a tense relationship at times with executives trading barbs publicly.\nPanasonic bought 1.4 million Tesla shares at $21.15 each in 2010 for about $30 million. That stake was worth $730 million at the end of March 2020. The shares have gained almost seven fold since then and closed up 3.5% at $679.82 apiece on Thursday.\n“The impact of crypto assets may have pushed Tesla’s share price above its intrinsic value, making it a good time to sell,” said Hideki Yasuda, an analyst at Ace Research Institute.\nMusk said in February his firm bought bitcoin and would take payment in the cryptocurrency, a decision he later reversed, and his comments on Twitter drive swings in the price of such assets.\nWhile Panasonic gave financial backing to Tesla when it was smaller, the automaker’s expansion means there’s no need for capital ties, Yasuda added. Panasonic’s shares were up 4.2% on Friday.\nThe stake sale will not affect the partnership with Tesla, the Panasonic spokesperson said, but comes as the automaker is diversifying its own battery supply chain.\nTesla has struck deals with South Korea’s LG Energy Solution, a unit of LG Chem, and China’s CATL, with Reuters reporting the latter is planning a plant in Shanghai near the automaker’s production base.\nPanasonic said earlier this year it would buy the shareshereof U.S. supply-chain software company Blue Yonder that it does not already own, in a $7.1 billion deal. Its biggest such deal in a decade, the price raised the eyebrows of analysts who pointed to the firm's spotty M&A track record.","news_type":1},"isVote":1,"tweetType":1,"viewCount":99,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127666052,"gmtCreate":1624846580576,"gmtModify":1703846062212,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"niceeeeeeeeeeeeeeeeeeeeeeeeeee gggggggggggggggggggggggggggggggggggggggytggggggg","listText":"niceeeeeeeeeeeeeeeeeeeeeeeeeee gggggggggggggggggggggggggggggggggggggggytggggggg","text":"niceeeeeeeeeeeeeeeeeeeeeeeeeee gggggggggggggggggggggggggggggggggggggggytggggggg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127666052","repostId":"2146567027","repostType":4,"repost":{"id":"2146567027","kind":"news","pubTimestamp":1624600920,"share":"https://ttm.financial/m/news/2146567027?lang=&edition=fundamental","pubTime":"2021-06-25 14:02","market":"us","language":"en","title":"Fearing predators, Credit Suisse seeks new look or even merger - sources","url":"https://stock-news.laohu8.com/highlight/detail?id=2146567027","media":"StreetInsider","summary":"ZURICH (Reuters) - Credit Suisse's top management are under pressure to come up with an overhaul pla","content":"<p>ZURICH (Reuters) - Credit Suisse's top management are under pressure to come up with an overhaul plan for the scandal-hit Swiss bank that could include a potential merger with rival UBS, three people familiar with its thinking told Reuters.</p>\n<p>The bank's executives fear the flagship Swiss lender, left vulnerable by scandals, could be challenged by investors demanding its break-up, or that its shrinking stock-market value makes it a target for a foreign hostile takeover, those people said.</p>\n<p>New chairman, Antonio Horta-Osorio, announced a strategic review in late April, telling investors he would take time in reaching hard decisions that lay ahead.</p>\n<p>The bank's senior management are due to meet next week, <a href=\"https://laohu8.com/S/AONE\">one</a> source said, while another person with knowledge of the matter said top executives wanted to examine restructuring proposals in early July.</p>\n<p>The Swiss bank has had to review its business after losing more than $5 billion in the rush to unwind trades by family office Archegos. It faces a barrage of legal action for helping clients invest $10 billion in bonds issued by collapsed supply chain finance firm Greensill Capital.</p>\n<p>The bank's shares have dropped by more than a quarter since early March, when its problems with Greensill were exposed.</p>\n<p>\"Credit Suisse needs a merger deal right away,\" a person with knowledge of the bank's thinking told Reuters.</p>\n<p>\"There is growing concern in Zurich that activist investors will go after them if they stand still.\"</p>\n<p>Some executives have debated steps such as spinning off its local Swiss bank to prepare the rest of the business for a merger, pruning back investment banking or selling its asset management business, two of the people said.</p>\n<p>A third said selling the U.S. investment bank was also an option.</p>\n<p>Management discussions on any restructuring are preliminary and while they are in full swing, no decisions have yet been taken, the people said.</p>\n<p>Credit Suisse and UBS declined to comment.</p>\n<p>The bank's management needs a new-look Credit Suisse, as its standing with customers and in Switzerland hits a low ebb.</p>\n<p>In April, Swiss supervisor FINMA said it had opened enforcement proceedings against Credit Suisse following Archegos and that it would investigate risk management shortcomings.</p>\n<p>Swiss regulators are exasperated with what they see as the bank's freewheeling culture, said <a href=\"https://laohu8.com/S/AONE.U\">one</a> person with direct knowledge of the matter.</p>\n<p>Credit Suisse's shrunken market valuation makes it worth a fraction of some of the big Wall Street banks, which have also been touted as potential suitors.</p>\n<p>But any U.S. takeover would not be well received in Switzerland. Relations between Swiss banks and Washington were damaged when the United States pressured them into giving up their strict secrecy code more than a decade ago.</p>\n<p>'DISAPPEAR IN FOREIGN HANDS'</p>\n<p>A merger with UBS would more palatable, the people said.</p>\n<p>\"The Swiss establishment is aware that without a domestic merger Credit Suisse will disappear in foreign hands,\" one of the sources said.</p>\n<p>But the combination of Credit Suisse-UBS would have a dominant position in the Swiss market, a concern for regulators who could also demand that a combined group bolster its capital.</p>\n<p>Credit Suisse could split out its Swiss bank to address competition concerns, one source said.</p>\n<p>Credit Suisse-UBS would have workforce of more than 110,000 and a market value of more than $85 billion.</p>\n<p>Earlier this year, when asked about a tie-up with Credit Suisse, UBS CEO Ralph Hamers threw cold water on the idea, saying he preferred \"organic\" growth.</p>\n<p>Any M&amp;A deal for Credit Suisse would mark the end of a national icon, founded to finance the country's pan-Alpine railways and central to Switzerland's transformation from a farming nation to financial powerhouse.</p>\n<p>For such a flagship, the Swiss may prefer a home-grown solution to the prospect of a takeover by a foreign bank.</p>\n<p>A cross-border merger would be complicated because it would be unclear whether Switzerland or another host country would have control.</p>\n<p>UBS, for instance, held merger talks with Germany's Deutsche Bank in 2019 but they fell apart in the face of Swiss opposition, said another person familiar with the matter. The two banks declined comment on this.</p>\n<p>Deutsche CEO Christian Sewing has expressed interest in participating in European bank mergers.</p>\n<p>But many people who spoke to Reuters for this story, however, believed a deal between Deutsche Bank and Credit Suisse was unlikely.</p>","source":"highlight_streetinsider","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fearing predators, Credit Suisse seeks new look or even merger - sources</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\">\nFearing predators, Credit Suisse seeks new look or even merger - sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 14:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=18603868><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ZURICH (Reuters) - Credit Suisse's top management are under pressure to come up with an overhaul plan for the scandal-hit Swiss bank that could include a potential merger with rival UBS, three people ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=18603868\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.streetinsider.com/dr/news.php?id=18603868","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146567027","content_text":"ZURICH (Reuters) - Credit Suisse's top management are under pressure to come up with an overhaul plan for the scandal-hit Swiss bank that could include a potential merger with rival UBS, three people familiar with its thinking told Reuters.\nThe bank's executives fear the flagship Swiss lender, left vulnerable by scandals, could be challenged by investors demanding its break-up, or that its shrinking stock-market value makes it a target for a foreign hostile takeover, those people said.\nNew chairman, Antonio Horta-Osorio, announced a strategic review in late April, telling investors he would take time in reaching hard decisions that lay ahead.\nThe bank's senior management are due to meet next week, one source said, while another person with knowledge of the matter said top executives wanted to examine restructuring proposals in early July.\nThe Swiss bank has had to review its business after losing more than $5 billion in the rush to unwind trades by family office Archegos. It faces a barrage of legal action for helping clients invest $10 billion in bonds issued by collapsed supply chain finance firm Greensill Capital.\nThe bank's shares have dropped by more than a quarter since early March, when its problems with Greensill were exposed.\n\"Credit Suisse needs a merger deal right away,\" a person with knowledge of the bank's thinking told Reuters.\n\"There is growing concern in Zurich that activist investors will go after them if they stand still.\"\nSome executives have debated steps such as spinning off its local Swiss bank to prepare the rest of the business for a merger, pruning back investment banking or selling its asset management business, two of the people said.\nA third said selling the U.S. investment bank was also an option.\nManagement discussions on any restructuring are preliminary and while they are in full swing, no decisions have yet been taken, the people said.\nCredit Suisse and UBS declined to comment.\nThe bank's management needs a new-look Credit Suisse, as its standing with customers and in Switzerland hits a low ebb.\nIn April, Swiss supervisor FINMA said it had opened enforcement proceedings against Credit Suisse following Archegos and that it would investigate risk management shortcomings.\nSwiss regulators are exasperated with what they see as the bank's freewheeling culture, said one person with direct knowledge of the matter.\nCredit Suisse's shrunken market valuation makes it worth a fraction of some of the big Wall Street banks, which have also been touted as potential suitors.\nBut any U.S. takeover would not be well received in Switzerland. Relations between Swiss banks and Washington were damaged when the United States pressured them into giving up their strict secrecy code more than a decade ago.\n'DISAPPEAR IN FOREIGN HANDS'\nA merger with UBS would more palatable, the people said.\n\"The Swiss establishment is aware that without a domestic merger Credit Suisse will disappear in foreign hands,\" one of the sources said.\nBut the combination of Credit Suisse-UBS would have a dominant position in the Swiss market, a concern for regulators who could also demand that a combined group bolster its capital.\nCredit Suisse could split out its Swiss bank to address competition concerns, one source said.\nCredit Suisse-UBS would have workforce of more than 110,000 and a market value of more than $85 billion.\nEarlier this year, when asked about a tie-up with Credit Suisse, UBS CEO Ralph Hamers threw cold water on the idea, saying he preferred \"organic\" growth.\nAny M&A deal for Credit Suisse would mark the end of a national icon, founded to finance the country's pan-Alpine railways and central to Switzerland's transformation from a farming nation to financial powerhouse.\nFor such a flagship, the Swiss may prefer a home-grown solution to the prospect of a takeover by a foreign bank.\nA cross-border merger would be complicated because it would be unclear whether Switzerland or another host country would have control.\nUBS, for instance, held merger talks with Germany's Deutsche Bank in 2019 but they fell apart in the face of Swiss opposition, said another person familiar with the matter. The two banks declined comment on this.\nDeutsche CEO Christian Sewing has expressed interest in participating in European bank mergers.\nBut many people who spoke to Reuters for this story, however, believed a deal between Deutsche Bank and Credit Suisse was unlikely.","news_type":1},"isVote":1,"tweetType":1,"viewCount":285,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127668806,"gmtCreate":1624846550105,"gmtModify":1703846061884,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127668806","repostId":"1192734381","repostType":4,"repost":{"id":"1192734381","kind":"news","pubTimestamp":1624607687,"share":"https://ttm.financial/m/news/1192734381?lang=&edition=fundamental","pubTime":"2021-06-25 15:54","market":"us","language":"en","title":"It Always Ends The Same Way: Crisis, Crash, Collapse","url":"https://stock-news.laohu8.com/highlight/detail?id=1192734381","media":"zerohedge","summary":"Risk has not been extinguished, it is expanding geometrically beneath the false stability of a monstrously manipulated market.","content":"<blockquote>\n <i>Risk has not been extinguished, it is expanding geometrically beneath the false stability of a monstrously manipulated market.</i>\n</blockquote>\n<p><img src=\"https://static.tigerbbs.com/901d35cf67cdca7a9c9da3d17ddb2d83\" tg-width=\"500\" tg-height=\"456\"></p>\n<p><b>One of the most under-appreciated investment insights is courtesy of Mike Tyson:&nbsp;</b><b><i>\"Everybody has a plan until they get punched in the mouth.\"</i></b>&nbsp;At this moment in history, the plan of most market participants is to place their full faith and trust in the status quo's ability to keep asset prices lofting ever higher, essentially forever.</p>\n<p><b>In other words, the vast majority of punters are convinced they will never suffer the indignity of getting punched in the mouth by a market crash.</b>&nbsp;What makes this confidence so interesting is&nbsp;<b>massively distorted markets always end the same way: crisis, crash and collapse.</b></p>\n<p><b>The core dynamic here is distorted markets provide false feedback and misleading information which then lead to participants making catastrophically misguided decisions.</b>&nbsp;Investment decisions made on poor information will also be poor, leading participants to end up poor, to their very great surprise.</p>\n<p><b>The surprise comes from the falsity of the feedback, as those who are distorting markets want punters to believe \"the market\" is functioning transparently.</b>&nbsp;If you're manipulating the market, the last thing you want is for the unwary marks to discover that the market is generating false signals and misleading information on risk, as&nbsp;<i>knowing the market is being distorted would alert them to the extraordinary risks intrinsic to heavily distorted markets.</i></p>\n<p><b>The risks arise from the disconnect between the precariousness of the manipulated market and the extreme confidence punters have in its stability and predictability.</b>&nbsp;The predictability comes not from transparent feedback and market signals but from the manipulation. This stability is entirely fabricated and therefore it lacks the&nbsp;<i>dynamic stability of truly open markets.</i></p>\n<p>Markets that are being distorted/manipulated to achieve a goal that is impossible in truly open markets--for example, markets that only loft higher with near-zero volatility--lull participants into a dangerous perception that because markets are so stable, risk has dissipated.</p>\n<p><img src=\"https://static.tigerbbs.com/e420e77dbab689d93ea0a8d481793dd0\" tg-width=\"500\" tg-height=\"430\"></p>\n<p><b>In actuality, risk is skyrocketing beneath the surface of the artificial stability because the market has been stripped of the mechanisms of&nbsp;</b><b><i>dynamic stability</i></b><b>.</b>&nbsp;This artificial stability derived from sustained manipulation has the superficial appearance of low-risk markets, i.e., low levels of volatility, but this lack of volatility derives not from transparency but from behind-the-scenes suppression of volatility.</p>\n<p><b>Another source of risk in distorted markets is the&nbsp;</b><b><i>illusion of liquidity</i></b><b>:</b>&nbsp;in low-volume markets of suppressed volatility, participants are encouraged to believe that they can buy and sell whatever securities they want in whatever volumes they want without disturbing market pricing and liquidity. In other words, participants are led to believe that the market will always have a bid due to the near-infinite depth of liquidity: no matter how many billions of dollars of securities you want to sell, there will always be a bid for your shares.</p>\n<p><b>In actual fact, the bid is paper-thin and it vanishes altogether once selling rises above very low levels.</b>&nbsp;Heavily manipulated markets are exquisitely sensitive to selling because the entire point is to limit any urge to sell while encouraging the greed to increase gains by buying more.</p>\n<p><b>The illusions of low risk, essentially guaranteed gains for those who increase their positions and near-infinite liquidity generate overwhelming incentives to borrow more and leverage it to the hilt to maximize gains.</b>&nbsp;The blissfully delusional punter feels the decision to borrow the maximum available and leverage it to the maximum is entirely rational due to the \"obvious\" absence of risk, the \"obvious\" guaranteed gains offered by markets lofting ever higher like clockwork and the \"obvious\" abundance of liquidity, assuring the punter they can always sell their entire position at today's prices and lock in profits at any time.</p>\n<p><b>On top of all these grossly misleading distortions, punters have been encouraged to believe in the ultimate distortion: the Federal Reserve will never let markets decline again, ever.</b>&nbsp;This is the perfection of&nbsp;<i>moral hazard</i>:&nbsp;<b>risk has been disconnected from consequence.</b></p>\n<p>In this perfection of&nbsp;<i>moral hazard</i>, punters consider it entirely rational to increase extremely risky speculative bets because&nbsp;<b>the Federal Reserve will never let markets decline.</b>&nbsp;Given the abundant evidence behind this assumption, it would be irrational not to ramp up crazy-risky speculative bets to the maximum&nbsp;<b>because losses are now impossible thanks to the Fed's implicit promise to never let markets drop.</b></p>\n<p><b>This is why distorted, manipulated markets always end the same way:</b>&nbsp;first, in an unexpected emergence of risk, which was presumed to be banished; second, a market crash as the paper-thin bid disappears and prices flash-crash to levels that wipe out all those forced to sell by margin calls, and then the collapse of faith in the manipulators (the Fed), collapse of the collateral supporting trillions of dollars in highly leveraged debt and then the collapse of the entire delusion-based financial system.</p>\n<p><img src=\"https://static.tigerbbs.com/db208f6307ade39a0c0f27fcdf7aa080\" tg-width=\"500\" tg-height=\"609\"></p>\n<p><b>Gordon Long and I illuminate the many layers of distortion, manipulation and moral hazard in our new video presentation,&nbsp;It Always Ends The Same Way</b>&nbsp;(34:33). Amidst the ruins generated by well-meaning manipulation and distortion, the \"well meaning\" part will leave an extremely long-lasting bitter taste in all those who failed to differentiate between the false signals and distorted information of manipulated markets and the trustworthy transparency of signals arising in truly open markets.</p>\n<p><b>In summary: risk has not been extinguished, it is expanding geometrically beneath the false stability of a monstrously manipulated market.</b>&nbsp;As I often note here,<i>risk cannot be extinguished, it can only be transferred.</i>&nbsp;By distorting markets to create an illusion of low-risk stability, the Federal Reserve has transferred this fatal supernova of risk to the entire financial system.</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>It Always Ends The Same Way: Crisis, Crash, Collapse</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\">\nIt Always Ends The Same Way: Crisis, Crash, Collapse\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 15:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/it-always-ends-same-way-crisis-crash-collapse><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Risk has not been extinguished, it is expanding geometrically beneath the false stability of a monstrously manipulated market.\n\n\nOne of the most under-appreciated investment insights is courtesy of ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/it-always-ends-same-way-crisis-crash-collapse\">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","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/it-always-ends-same-way-crisis-crash-collapse","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192734381","content_text":"Risk has not been extinguished, it is expanding geometrically beneath the false stability of a monstrously manipulated market.\n\n\nOne of the most under-appreciated investment insights is courtesy of Mike Tyson: \"Everybody has a plan until they get punched in the mouth.\" At this moment in history, the plan of most market participants is to place their full faith and trust in the status quo's ability to keep asset prices lofting ever higher, essentially forever.\nIn other words, the vast majority of punters are convinced they will never suffer the indignity of getting punched in the mouth by a market crash. What makes this confidence so interesting is massively distorted markets always end the same way: crisis, crash and collapse.\nThe core dynamic here is distorted markets provide false feedback and misleading information which then lead to participants making catastrophically misguided decisions. Investment decisions made on poor information will also be poor, leading participants to end up poor, to their very great surprise.\nThe surprise comes from the falsity of the feedback, as those who are distorting markets want punters to believe \"the market\" is functioning transparently. If you're manipulating the market, the last thing you want is for the unwary marks to discover that the market is generating false signals and misleading information on risk, as knowing the market is being distorted would alert them to the extraordinary risks intrinsic to heavily distorted markets.\nThe risks arise from the disconnect between the precariousness of the manipulated market and the extreme confidence punters have in its stability and predictability. The predictability comes not from transparent feedback and market signals but from the manipulation. This stability is entirely fabricated and therefore it lacks the dynamic stability of truly open markets.\nMarkets that are being distorted/manipulated to achieve a goal that is impossible in truly open markets--for example, markets that only loft higher with near-zero volatility--lull participants into a dangerous perception that because markets are so stable, risk has dissipated.\n\nIn actuality, risk is skyrocketing beneath the surface of the artificial stability because the market has been stripped of the mechanisms of dynamic stability. This artificial stability derived from sustained manipulation has the superficial appearance of low-risk markets, i.e., low levels of volatility, but this lack of volatility derives not from transparency but from behind-the-scenes suppression of volatility.\nAnother source of risk in distorted markets is the illusion of liquidity: in low-volume markets of suppressed volatility, participants are encouraged to believe that they can buy and sell whatever securities they want in whatever volumes they want without disturbing market pricing and liquidity. In other words, participants are led to believe that the market will always have a bid due to the near-infinite depth of liquidity: no matter how many billions of dollars of securities you want to sell, there will always be a bid for your shares.\nIn actual fact, the bid is paper-thin and it vanishes altogether once selling rises above very low levels. Heavily manipulated markets are exquisitely sensitive to selling because the entire point is to limit any urge to sell while encouraging the greed to increase gains by buying more.\nThe illusions of low risk, essentially guaranteed gains for those who increase their positions and near-infinite liquidity generate overwhelming incentives to borrow more and leverage it to the hilt to maximize gains. The blissfully delusional punter feels the decision to borrow the maximum available and leverage it to the maximum is entirely rational due to the \"obvious\" absence of risk, the \"obvious\" guaranteed gains offered by markets lofting ever higher like clockwork and the \"obvious\" abundance of liquidity, assuring the punter they can always sell their entire position at today's prices and lock in profits at any time.\nOn top of all these grossly misleading distortions, punters have been encouraged to believe in the ultimate distortion: the Federal Reserve will never let markets decline again, ever. This is the perfection of moral hazard: risk has been disconnected from consequence.\nIn this perfection of moral hazard, punters consider it entirely rational to increase extremely risky speculative bets because the Federal Reserve will never let markets decline. Given the abundant evidence behind this assumption, it would be irrational not to ramp up crazy-risky speculative bets to the maximum because losses are now impossible thanks to the Fed's implicit promise to never let markets drop.\nThis is why distorted, manipulated markets always end the same way: first, in an unexpected emergence of risk, which was presumed to be banished; second, a market crash as the paper-thin bid disappears and prices flash-crash to levels that wipe out all those forced to sell by margin calls, and then the collapse of faith in the manipulators (the Fed), collapse of the collateral supporting trillions of dollars in highly leveraged debt and then the collapse of the entire delusion-based financial system.\n\nGordon Long and I illuminate the many layers of distortion, manipulation and moral hazard in our new video presentation, It Always Ends The Same Way (34:33). Amidst the ruins generated by well-meaning manipulation and distortion, the \"well meaning\" part will leave an extremely long-lasting bitter taste in all those who failed to differentiate between the false signals and distorted information of manipulated markets and the trustworthy transparency of signals arising in truly open markets.\nIn summary: risk has not been extinguished, it is expanding geometrically beneath the false stability of a monstrously manipulated market. As I often note here,risk cannot be extinguished, it can only be transferred. By distorting markets to create an illusion of low-risk stability, the Federal Reserve has transferred this fatal supernova of risk to the entire financial system.","news_type":1},"isVote":1,"tweetType":1,"viewCount":229,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127681816,"gmtCreate":1624846152635,"gmtModify":1703846045743,"author":{"id":"3583800505467680","authorId":"3583800505467680","name":"nailclipper","avatar":"https://static.tigerbbs.com/0dd7f7188273b9053103027e7b842d3d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583800505467680","authorIdStr":"3583800505467680"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127681816","repostId":"1108214079","repostType":4,"repost":{"id":"1108214079","kind":"news","pubTimestamp":1624607367,"share":"https://ttm.financial/m/news/1108214079?lang=&edition=fundamental","pubTime":"2021-06-25 15:49","market":"us","language":"en","title":"All 23 US Banks Easily Pass Fed's Stress Test, Setting Stage For Billions In Buybacks","url":"https://stock-news.laohu8.com/highlight/detail?id=1108214079","media":"zerohedge","summary":"As wepreviewed earlier, today the Fed would release the latest bank Stress Test results, and as we a","content":"<p>As wepreviewed earlier, today the Fed would release the latest bank Stress Test results, and as we also cynically expected, every bank would pass and sure enough moments ago theFederal Reserve announced that all banks easily clearedtheir annual bill of health, acing their annual stress test which found that banks could suffer almost $500 billion in losses and still comfortably meet capital requirements, setting the scene for hundreds of billions in stock buybacks and dividends.</p>\n<p>The \"test\" showed the country’s biggest banks could withstand $474 billion in losses from loans and other positions, and still emerge with more than double the required high-quality common equity tier one, or CET1, capital relative to their risk-weighted assets.</p>\n<p>In a statement published by the Federal Reserve Board, the Fed said that the results of the annual bank stress test showed that large banks \"continue to have strong capital levels and could continue lending to households and businesses during a severe recession.\"</p>\n<p>\"Over the past year, the Federal Reserve has run three stress tests with several different hypothetical recessions and all have confirmed that the banking system is strongly positioned to support the ongoing recovery,\" said Vice Chair for Supervision Randal K. Quarles.</p>\n<p><b>All 23 large banks tested remained well above their risk-based minimum capital requirements,</b>and as laid out previously by the Board, the additional restrictions put in place during the COVID event will end. As a result, all large banks will be subject to the normal restrictions of the Board's stress capital buffer, or SCB, framework.</p>\n<p>The SCB framework was finalized last year and maintains strong capital requirements in the aggregate for large banks with an increase in requirements for the largest and most complex banks. It sets capital requirements via the stress tests, and as a result, banks are required to hold enough capital to survive a severe recession. If a bank does not stay above its capital requirements, which include the SCB, it is subject to automatic restrictions on capital distributions and discretionary bonus payments.</p>\n<p>Naturally this is great news,<b>and it means that banks no longer need the Fed's $120BN in monthly QE right?</b></p>\n<p>Joking aside, having aced their tests the six largest US banks - a group that also includes Citigroup, Wells Fargo, Morgan Stanley and Goldman Sachs - will now pay out approximately $142 billion in capital to shareholders, paving the way for them to double total shareholder payouts in the next four quarters, according to data compiled by Bloomberg based on estimates provided by analysts at Barclays Plc.</p>\n<p><img src=\"https://static.tigerbbs.com/0c0f4f744baea705298a632057a1089d\" tg-width=\"642\" tg-height=\"339\" referrerpolicy=\"no-referrer\"></p>\n<p>For those wondering just what the Fed \"tested\" for,this year's hypothetical scenarioincludes a \"severe\" global recession with substantial stress in commercial real estate and corporate debt markets:</p>\n<ul>\n <li>The unemployment rate rises by 4 percentage points to a peak of 10-3/4 percent.</li>\n <li>Gross domestic product falls 4 percent from the fourth quarter of 2020 through the third quarter of 2022.</li>\n <li>And asset prices decline sharply, with a 55 percent decline in equity prices (unclear how many trillions the Fed would have to inject in this scenario to stabilize stonks).</li>\n</ul>\n<p>Under that scenario, the Fed calculated that<b>the 23 large banks would collectively lose more than $470 billion, with nearly $160 billion losses from commercial real estate and corporate loans.</b></p>\n<p>Of banks headquartered in the US, investment banking groups Goldman Sachs and Morgan Stanley suffered the biggest hits to their capital ratios in the stress tests, with declines of 5.9 and 4.7 percentage points, respectively. This compared to an average decline of 2.4% points for the 23 banks that underwent the tests, which included the American subsidiaries of foreign banks with significant US operations.</p>\n<p><img src=\"https://static.tigerbbs.com/7cf2f5302333e2e68ae4bf1a48962627\" tg-width=\"819\" tg-height=\"620\" referrerpolicy=\"no-referrer\"></p>\n<p>Even in a worst case scenario capital ratios would decline to only 10.6%, still more than double their minimum requirements.</p>\n<p>Consumer debt accounted for a smaller portion of overall losses than previous years since most retail customers spent the past year paying down credit cards and other loans during the Covid-19 pandemic. But an increase in expected losses in commercial and industrial loans more than offset that decline. Nearly $160bn of the losses came from commercial real estate and corporate loans.</p>\n<p><img src=\"https://static.tigerbbs.com/602b5d94c01e097ef93f83f6b70ade10\" tg-width=\"956\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>A summary of how the various bank capital ratios would be impact under the Fed's stress scenarios is shown below.</p>\n<p><img src=\"https://static.tigerbbs.com/d8a6aa543d4ad0e3d044e4397a77ad2c\" tg-width=\"973\" tg-height=\"961\" referrerpolicy=\"no-referrer\"></p>\n<p>The Fed also said that, as expected, it would lift pandemic restrictions on bank share buybacks and dividends on June 30th after banks clear stress tests.</p>\n<p>The next step is on Monday, June 28: the Fed expects banks to wait until then to analyze the results of the stress tests before announcing any plans for new shareholder payouts, according to senior Fed officials. Then, after the market close, banks can unveil their capital distribution plans. From the tests, the Fed will also prescribe for each bank how much CET1 capital in excess of regulatory minimums they need to keep through a so-called stress capital buffer. The CET1 ratio measured against risk-weighted assets is a crucial benchmark of financial stability.</p>\n<p>Barclays analysts estimate the median bank out of the 20 relevant institutions it covers will return over 100 per cent of its earnings to shareholders over the next year, with capital returned to investors approaching $200bn.</p>\n<p>In immediate response, the market - which knew the outcome of the test well in advance - bid up bank stocks which rose in postmarket trading, with Bank of America leading the rally among big banks, rising 1.6%; Morgan Stanley +1%, Citigroup +0.9% and Wells Fargo +0.8%, JPMorgan +0.7%, Goldman Sachs +0.6%.</p>\n<p><img src=\"https://static.tigerbbs.com/f1c7c394ce7aae8679dfe85b5e987060\" tg-width=\"512\" tg-height=\"335\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/a670e03c93a58825a2398a12f3756c6b\" tg-width=\"500\" tg-height=\"328\" referrerpolicy=\"no-referrer\"></p>\n<p>* * *</p>\n<p>And while all of the above was exactly as expected, overnight Credit Suisse repo guru Zoltan Poszar warned of a potentially troubling twist.</p>\n<p>In his latest Global Money Dispatch, Pozsar notes that among other things, today's stress test results will determine the stress capital buffers (SCB) large banks will have to hold in 2022, which will affect their CET1 minimums. Naturally,<b>lower SCBs allow the largest U.S. banks to run with higher G-SIB surcharges, and this trade-off is particularly important for J.P. Morgan.</b>According to Pozsar,&nbsp; the bank will be more willing to let its G-SIB surcharge climb to 5% this year from 4% last year if its SCB comes in around 2.5%, down from 3.3% currently. As a result, today's release may have \"<i>a big impact on the pricing of the year-end turn in FX swaps: if J.P. Morgan’s SCB drops a lot, year-end premia might shrink a lot from here.\"</i></p>\n<p>There's more: looking ahead to the June 30 expiration of stock buyback limitations, the Hungarian repo guru writes that<b>the upcoming wave of buybacks \"destroy balance sheet capacity in the banking system\" as banks that return capital to shareholders have less capital to leverage up.</b></p>\n<p>Here's the math:<i>with a 5% Supplemental Liquidity Ratio minimum at the holdco level,</i><i><b>banks run 20-times leverage, which means that $10 billion in stock buybacks means $200 billion less of banks’ demand for reserves, Treasuries, MBS, and deposits.</b></i></p>\n<p>This means that as banks rush to handout cash to shareholders, they will be forced to park even more reserves elsewhere... like for example the Fed's reverse repo facility. This “push” by banks to shed capacity and potentially some deposits will meet the “sucking sound” of the RRP facility in coming weeks. It comes as usage of the Fed's reverse repo facility has been rising by tens of billions daily and on Wednesday just hit a record $813.6 billion.</p>\n<p><img src=\"https://static.tigerbbs.com/391bdb2316b81ed40abaf3e0280d35a1\" tg-width=\"1170\" tg-height=\"628\" referrerpolicy=\"no-referrer\"></p>\n<p>Now imagine what will happen to the RRP facility if banks indeed proceed to repurchase $142BN in stock; applying Pozsar's 20x leverage multiple, this means that bank balance sheets will shrink by just under $3 trillion, including trillions in reserves which will have to be parked at the Fed, which also means that in the coming weeks usage on the Fed's reserve facility is set to explode to unprecedented levels. This in turn will only accelerate the next funding crisis (now that the banking system has shifted from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market) thanks to the Fed's IOER/RRP rate hike), as we described in \"Powell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis.\"</p>\n<p>One final technical consideration from Zoltan is that the flattening of the yield curve in recent days hit bank stocks,<b>so banks may start buybacks on July 1st, which means banks might choose to stay liquid around quarter-end.</b>This will be an extra factor to consider in pricing the June quarter-end turn.</p>\n<p>As Pozsar concludes,<b>\"ample liquidity is ample only if banks are willing to trade it, and trading liquidity means giving it up, which large banks might not want to do when the “pull” of the o/n RRP facility can complicate re-starting buybacks as early as July 1st.</b>\"</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>All 23 US Banks Easily Pass Fed's Stress Test, Setting Stage For Billions In Buybacks</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\">\nAll 23 US Banks Easily Pass Fed's Stress Test, Setting Stage For Billions In Buybacks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 15:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/all-23-us-banks-easily-pass-feds-stress-test-setting-stage-billions-buybacks><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As wepreviewed earlier, today the Fed would release the latest bank Stress Test results, and as we also cynically expected, every bank would pass and sure enough moments ago theFederal Reserve ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/all-23-us-banks-easily-pass-feds-stress-test-setting-stage-billions-buybacks\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GS":"高盛","KBE":"银行指数ETF-SPDR KBW","JPM":"摩根大通","WFC":"富国银行","C":"花旗","MS":"摩根士丹利","BAC":"美国银行"},"source_url":"https://www.zerohedge.com/markets/all-23-us-banks-easily-pass-feds-stress-test-setting-stage-billions-buybacks","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108214079","content_text":"As wepreviewed earlier, today the Fed would release the latest bank Stress Test results, and as we also cynically expected, every bank would pass and sure enough moments ago theFederal Reserve announced that all banks easily clearedtheir annual bill of health, acing their annual stress test which found that banks could suffer almost $500 billion in losses and still comfortably meet capital requirements, setting the scene for hundreds of billions in stock buybacks and dividends.\nThe \"test\" showed the country’s biggest banks could withstand $474 billion in losses from loans and other positions, and still emerge with more than double the required high-quality common equity tier one, or CET1, capital relative to their risk-weighted assets.\nIn a statement published by the Federal Reserve Board, the Fed said that the results of the annual bank stress test showed that large banks \"continue to have strong capital levels and could continue lending to households and businesses during a severe recession.\"\n\"Over the past year, the Federal Reserve has run three stress tests with several different hypothetical recessions and all have confirmed that the banking system is strongly positioned to support the ongoing recovery,\" said Vice Chair for Supervision Randal K. Quarles.\nAll 23 large banks tested remained well above their risk-based minimum capital requirements,and as laid out previously by the Board, the additional restrictions put in place during the COVID event will end. As a result, all large banks will be subject to the normal restrictions of the Board's stress capital buffer, or SCB, framework.\nThe SCB framework was finalized last year and maintains strong capital requirements in the aggregate for large banks with an increase in requirements for the largest and most complex banks. It sets capital requirements via the stress tests, and as a result, banks are required to hold enough capital to survive a severe recession. If a bank does not stay above its capital requirements, which include the SCB, it is subject to automatic restrictions on capital distributions and discretionary bonus payments.\nNaturally this is great news,and it means that banks no longer need the Fed's $120BN in monthly QE right?\nJoking aside, having aced their tests the six largest US banks - a group that also includes Citigroup, Wells Fargo, Morgan Stanley and Goldman Sachs - will now pay out approximately $142 billion in capital to shareholders, paving the way for them to double total shareholder payouts in the next four quarters, according to data compiled by Bloomberg based on estimates provided by analysts at Barclays Plc.\n\nFor those wondering just what the Fed \"tested\" for,this year's hypothetical scenarioincludes a \"severe\" global recession with substantial stress in commercial real estate and corporate debt markets:\n\nThe unemployment rate rises by 4 percentage points to a peak of 10-3/4 percent.\nGross domestic product falls 4 percent from the fourth quarter of 2020 through the third quarter of 2022.\nAnd asset prices decline sharply, with a 55 percent decline in equity prices (unclear how many trillions the Fed would have to inject in this scenario to stabilize stonks).\n\nUnder that scenario, the Fed calculated thatthe 23 large banks would collectively lose more than $470 billion, with nearly $160 billion losses from commercial real estate and corporate loans.\nOf banks headquartered in the US, investment banking groups Goldman Sachs and Morgan Stanley suffered the biggest hits to their capital ratios in the stress tests, with declines of 5.9 and 4.7 percentage points, respectively. This compared to an average decline of 2.4% points for the 23 banks that underwent the tests, which included the American subsidiaries of foreign banks with significant US operations.\n\nEven in a worst case scenario capital ratios would decline to only 10.6%, still more than double their minimum requirements.\nConsumer debt accounted for a smaller portion of overall losses than previous years since most retail customers spent the past year paying down credit cards and other loans during the Covid-19 pandemic. But an increase in expected losses in commercial and industrial loans more than offset that decline. Nearly $160bn of the losses came from commercial real estate and corporate loans.\n\nA summary of how the various bank capital ratios would be impact under the Fed's stress scenarios is shown below.\n\nThe Fed also said that, as expected, it would lift pandemic restrictions on bank share buybacks and dividends on June 30th after banks clear stress tests.\nThe next step is on Monday, June 28: the Fed expects banks to wait until then to analyze the results of the stress tests before announcing any plans for new shareholder payouts, according to senior Fed officials. Then, after the market close, banks can unveil their capital distribution plans. From the tests, the Fed will also prescribe for each bank how much CET1 capital in excess of regulatory minimums they need to keep through a so-called stress capital buffer. The CET1 ratio measured against risk-weighted assets is a crucial benchmark of financial stability.\nBarclays analysts estimate the median bank out of the 20 relevant institutions it covers will return over 100 per cent of its earnings to shareholders over the next year, with capital returned to investors approaching $200bn.\nIn immediate response, the market - which knew the outcome of the test well in advance - bid up bank stocks which rose in postmarket trading, with Bank of America leading the rally among big banks, rising 1.6%; Morgan Stanley +1%, Citigroup +0.9% and Wells Fargo +0.8%, JPMorgan +0.7%, Goldman Sachs +0.6%.\n\n* * *\nAnd while all of the above was exactly as expected, overnight Credit Suisse repo guru Zoltan Poszar warned of a potentially troubling twist.\nIn his latest Global Money Dispatch, Pozsar notes that among other things, today's stress test results will determine the stress capital buffers (SCB) large banks will have to hold in 2022, which will affect their CET1 minimums. Naturally,lower SCBs allow the largest U.S. banks to run with higher G-SIB surcharges, and this trade-off is particularly important for J.P. Morgan.According to Pozsar,  the bank will be more willing to let its G-SIB surcharge climb to 5% this year from 4% last year if its SCB comes in around 2.5%, down from 3.3% currently. As a result, today's release may have \"a big impact on the pricing of the year-end turn in FX swaps: if J.P. Morgan’s SCB drops a lot, year-end premia might shrink a lot from here.\"\nThere's more: looking ahead to the June 30 expiration of stock buyback limitations, the Hungarian repo guru writes thatthe upcoming wave of buybacks \"destroy balance sheet capacity in the banking system\" as banks that return capital to shareholders have less capital to leverage up.\nHere's the math:with a 5% Supplemental Liquidity Ratio minimum at the holdco level,banks run 20-times leverage, which means that $10 billion in stock buybacks means $200 billion less of banks’ demand for reserves, Treasuries, MBS, and deposits.\nThis means that as banks rush to handout cash to shareholders, they will be forced to park even more reserves elsewhere... like for example the Fed's reverse repo facility. This “push” by banks to shed capacity and potentially some deposits will meet the “sucking sound” of the RRP facility in coming weeks. It comes as usage of the Fed's reverse repo facility has been rising by tens of billions daily and on Wednesday just hit a record $813.6 billion.\n\nNow imagine what will happen to the RRP facility if banks indeed proceed to repurchase $142BN in stock; applying Pozsar's 20x leverage multiple, this means that bank balance sheets will shrink by just under $3 trillion, including trillions in reserves which will have to be parked at the Fed, which also means that in the coming weeks usage on the Fed's reserve facility is set to explode to unprecedented levels. This in turn will only accelerate the next funding crisis (now that the banking system has shifted from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market) thanks to the Fed's IOER/RRP rate hike), as we described in \"Powell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis.\"\nOne final technical consideration from Zoltan is that the flattening of the yield curve in recent days hit bank stocks,so banks may start buybacks on July 1st, which means banks might choose to stay liquid around quarter-end.This will be an extra factor to consider in pricing the June quarter-end turn.\nAs Pozsar concludes,\"ample liquidity is ample only if banks are willing to trade it, and trading liquidity means giving it up, which large banks might not want to do when the “pull” of the o/n RRP facility can complicate re-starting buybacks as early as July 1st.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":121,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}