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2021-08-04

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亚马逊无人机送货要凉了？一个月换 3 经理，100 多人被裁员

2021-08-05

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21:01","market":"us","language":"zh","title":"亚马逊无人机送货要凉了？一个月换 3 经理，100 多人被裁员","url":"https://stock-news.laohu8.com/highlight/detail?id=2157941336","media":"智东西","summary":"目前该项目的部分业务已被关闭，100 多个工作岗位遭到裁撤。亚马逊在 2013 年的时候首次向世界展示其无人机送货的愿景，并于 2016 年在英国剑桥设立了 Prime Air 的研发基地。","content":"<html><body><article><img src=\"https://fid-75186.picgzc.qpic.cn/20210808210955086d154euz6oznhc6z\"/><p>据美国媒体 WIRED 报道，<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>已大幅削减其在英国的无人机交付项目 Prime Air。目前该项目的部分业务已被关闭，100 多个工作岗位遭到裁撤。</p><p>亚马逊在 2013 年的时候首次向世界展示其无人机送货的愿景，并于 2016 年在英国剑桥设立了 Prime Air 的研发基地。不过，到现在其无人机送货队伍仍未真正落地。</p><p>最近，该项目曾经的工作人员向 WIRED 讲述了这个项目背后的混乱。他们称该项目曾经在一个月内换了 3 个经理，并且后期来的领导全是不懂技术的行外人，往往朝令夕改，对项目提供不了任何帮助。此外，员工也会消极怠工，甚至有人在工作时间坐在工位上大喝啤酒。</p><p>一、亚马逊无人机送货项目大裁员，100 多人失业</p><p>随着亚马逊关闭其在英国的部分业务，亚马逊 Prime Air 的 100 多名员工已经失业，数十名其他职位的员工正在转移到英国以外的其他项目。内部人士称，这个于 2016 年启动的项目能否继续下去还无法确定。</p><p>一些曾经在该项目工作过的人士告诉 WIRED，称近年来 Prime Air 内部的问题越来越多，比如被新任命的经理对项目知之甚少，甚至无法回答基本的工作问题，有员工在办公桌前大喝啤酒，还一些员工被迫在哥斯达黎加培训他们的接替者。</p><p>对此亚马逊向 WIRED 表示仍有一些员工在英国为 Prime Air 工作，但是没有说明具体有多少员工。</p><p>五年前，Prime Air 在英国的业务被疯狂推广，亚马逊高管声称将在几年内实现无人机投递包裹。他们在剑桥开设了一个巨大的新办公室，还让当地学校参观其秘密的无人机实验室。另外他们还发布了一系列无人机飞行宣传视频，获得了数百万次的点击量。</p><p>英国监管机构也加快了无人机测试审批的进程，使得英国成为了无人机飞行的理想测试地点，为亚马逊进一步获得其他国家监管部门的批准铺平了道路。</p><p>▲亚马逊的 Prime Air 送货无人机</p><img src=\"https://fid-75186.picgzc.qpic.cn/20210808211000321d154mol9x7rfqbp\"/><p>但是在随后的几年里，巡回的演出推广停止了，宣传视频也从 YouTube 上默默下架，该公司广泛的宣传活动消失了。除了 Jeff Wilke 等亚马逊高管偶尔谈道 \" 交付无人机将在几个月内成为现实 \" 之外，这一项目几乎没有了任何消息。</p><p>与此同时，在争夺美国监管部门批准的竞争中，亚马逊被美国<a href=\"https://laohu8.com/S/UPS\">联合包裹</a>（UPS）和<a href=\"https://laohu8.com/S/GOOG\">谷歌</a>母公司 Alphabet 旗下的 Wing 抢在了前面。</p><p>现在，Prime Air 在英国首次试飞 5 年后，该项目的整个英国数据分析团队都被裁员了。</p><p>亚马逊发言人称，裁员后仍将在 Prime Air 还会在英国开展工作，并且将继续扩大 Prime Air 在英国的影响力，但没有透露将开展什么类型的工作。他还以安全问题为由，拒绝回答曾经充满宣传视频的试飞是否仍在英国进行。</p><p>该发言人补充道，他们已经为一些受到影响的员工在其业务的其他部门找到了新岗位，不过同样未透露有多少人得到了新工作。</p><p>二、项目内部频繁换帅，一个月换了 3 个经理</p><p>该项目的内部人士称，由于员工和管理人员的不断改组，Prime Air 项目于 2019 年底出现裂痕。</p><p>Prime Air 曾经通过临时工中介进行频繁的招聘壮大了其数据分析团队，这一团队的工作是其在剑桥的业务中很重要的一部分。该团队主要任务是手动浏览试飞镜头并识别相关威胁或物体，以此来通过机器学习训练亚马逊无人机。</p><p>当时这一团队分为三个小组，分别处理不同的可能对无人机产生威胁的影响，包括人类和动物、天空中的其他人造物体以及 3D 映射。这有助于无人机分辨天空、草坪或者游泳池。</p><p>据该部门的前员工所说，在 2019 年的最后几个月，从底层员工到经理几乎都在不断地流失。因为团队的员工和高级成员被改组或从项目中撤出，该项目在一个月内甚至出现了 3 个不同的经理。</p><p>越来越多的高级管理人员开始退出，比如 Tom Denlegh-Maxwell，他从项目启动时就参与了该项目，直到 2019 年 12 月份离开了这个项目。</p><p>一位前员工说：\" 有段时间我们的团队一次性来了四五个新经理，他们通常在加入 Prime Air 不到一年的时间内就很快离开了。\" 另外一个人将这种情况称作 \" 船沉鼠窜（rats off a sinking ship）\"。</p><p>他们还说道，许多新任命的人都是亚马逊的终身经理，他们以前专门从事物流或仓库运营，对于该项目正在完成中的工作的技术细节知之甚少。\" 我们永远无法向经理寻求任何关于项目中的技术细节的帮助，因为他们根本不知道如何帮助我们。\" 一位前员工说。</p><p>三、工程师既要挑战技术难题，又要应对领导朝令夕改</p><p>在项目频繁换帅的同时，Prime Air 的工程师一边要努力地解决技术上的问题，一边又要应对一系列非技术性的问题。</p><p>其他无人机公司的目标是使用降落伞从几米或更高的地方投下包裹，而亚马逊的工程师想要让无人机降落在人们家门外，在几乎与地面平齐的地方放下包裹。实现这一目标是一个巨大的工程，对于机器学习来说也是一项挑战。</p><p>\" 让无人机在人们家门口着陆所需的系统重量很大，这让亚马逊的无人机重量达到了 27 公斤左右，超过了管理机构对于小型无人机所设定的标准，这也意味着多了许多额外的规定。比如管理机构为了避免人们受到碰撞，对超过小型无人机标准的飞行器设定了更高的安全标准。\" 无人机公司 Matternet 的首席执行官 Andreas Raptopoulos 说。</p><p><a href=\"https://laohu8.com/S/BRS\">布里斯托</a>尔<a href=\"https://laohu8.com/S/300024\">机器人</a>实验室（Bristol robotics Lab）空中机器人技术负责人 Arthur Richards 教授说：\" 最难的部分是离地面的最后两米，机器学习的能力令人吃惊。但是他们犯的错误也同样令人吃惊。\"</p><p>内部人士称该项目的标准经常会在未作出任何解释的情况下被要求更改，比如他们会被告知要避免无人机通过镜头识别到站在窗户后面的人，但是过一段时间后又被要求做相反的事。</p><p>另一位消息人士说，他们与亚马逊总部的唯一联系是一位美国高管。他每隔几个月就会来看望这个团队，给他们买披萨饼，然后要求他们把工作量增加一倍。并且这位高管不会做出任何解释，也不会回答任何问题。</p><p>该消息人士说道：\" 这就好比在地球的另一端有一个家伙告诉你该做什么，然后就拍拍屁股走人了。当你在一个人与人之间交流特别少的组织内时，我不知道你还能指望什么把事情做好。\"</p><p>四、员工面临被裁风险，上班时间大喝啤酒</p><p>去年 2 月份 Prime Air 在英国的人类和动物数据分析团队被整个裁撤掉，该团队雇佣的数十个人被重新分配到其他团队。然而仅过去三个月后，这个团队又重新被建立起来，并且重新分配了人员。</p><p>\" 这是很不正常的，其中肯定出现了很多混乱，公司在没有做长期规划的情况下做出了很多决策。\" 一位前员工说。另一位前员工也说感觉项目一直处于 \" 有组织的混乱 \" 状态。</p><p>差不多也是在这个时候，亚马逊开始重组并使很多人失去了工作。公司的管理者们在数据分析师的站立式会议上承认，对于非长期合同的人来说，公司曾对他们做出的永久就业的承诺将很难被兑现。这让 Prime Air 团队已经受到打击的士气再次被打击。</p><p>\" 一切都开始向内崩溃，亚马逊往这里堆积了太多东西。他们让对项目一无所知的人来负责这些事情，并且过度的向外推销，以至于太多的承诺无法兑现。\" 其前员工说。</p><p>\" 那是一个星期一，大约是中午十一二点，一个家伙从冰箱里拿了一罐啤酒在工位上自顾自的喝了起来。另一位员工在他们的电脑上按下全部通过的按钮，让本应该仔细审核的无人机试飞镜头全部得到了通过，而不管里面是否包含了危险因素。\" 该项目的前员工这样描述当时的场景。</p><p>在 2020 年到 2021 年这两年间，英国 Prime Air 的员工要么因短期合同到期而离职，要么被裁员。工作人员还说，他们被告知要去哥斯达黎加培训他们自己的接班人。</p><p>目前，亚马逊未确认英国 Prime Air 团队是否会进一步裁员，也未确认 Prime Air 在全球其他地方的项目是否会外包出去。</p><p>五、项目长期中断，内部人士怀疑无人机送货无法实现</p><p>该项目经过长时间的中断，一些内部人士开始怀疑亚马逊能否实现其无人机送货的梦想。\" 我进入那里时，Prime Air 已经出现好几年了，然而在我看来它永远不会离开地面。\" 该项目的前员工说。</p><p>亚马逊去年在美国获得了监管许可，将允许其在美国进行新的试飞，这一消息被大肆宣传，也引来了外界对即将到来的无人机送货的猜测。然而，亚马逊在 2016 年就在英国获得了同样的许可，却直到现在都没有一支可以使用的无人机送货队伍。</p><p>对于这个问题，亚马逊没有说明在美国的试飞和在英国的试飞有何不同。</p><p>Andreas Raptopoulos 说，在几个月或几年内面向大众市场兑现电子商务无人机交付的承诺不现实。他说：\" 我们能否见到下一代大规模电子商务交付方式？我想在 2027 年或 2028 年左右可以见到。但是当有人说‘五年左右’时，你要注意，他的意思往往是‘我不确定，但不是现在’。\"</p><p>结语：8 年过去，亚马逊无人机送货仍未实现</p><p>亚马逊的无人机送货计划从提出到现在已经过去了 8 年的时间，却迟迟无法真正落地。现在它内部的问题被曝光，让人看了唏嘘不已，难道亚马逊的无人机送货只能是画的一张大饼无法实现了吗？</p><p>显然，亚马逊并不打算放弃这一构想，其发言人称将继续在英国开展业务，努力实现利用无人机在 30 分钟内将货物送到客户手中的目标。</p><p>最近有媒体报道，美团无人机配送即将在深圳开展试点，用户最快 10 分钟就能拿到商品。另外，在这次河南暴雨灾害中，<a href=\"https://laohu8.com/S/02618\">京东物流</a>无人机也参与到了物资运输工作中。</p><p>除此之外，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>、顺丰等电商、物流公司也都在积极的探索无人机送货业务。与亚马逊的无人机送货相比，国内科技公司显然已经走到了前列。</p><p>来源：智东西</p></article></body></html>","source":"tencent","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>亚马逊无人机送货要凉了？一个月换 3 经理，100 多人被裁员</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n亚马逊无人机送货要凉了？一个月换 3 经理，100 多人被裁员\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-08 21:01 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021080821100379de3c1a&s=b><strong>智东西</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>据美国媒体 WIRED 报道，亚马逊已大幅削减其在英国的无人机交付项目 Prime Air。目前该项目的部分业务已被关闭，100 多个工作岗位遭到裁撤。亚马逊在 2013 年的时候首次向世界展示其无人机送货的愿景，并于 2016 年在英国剑桥设立了 Prime Air 的研发基地。不过，到现在其无人机送货队伍仍未真正落地。最近，该项目曾经的工作人员向 WIRED 讲述了这个项目背后的混乱。他们称该...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021080821100379de3c1a&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e5270e4236fee051a23343694c988024","relate_stocks":{"AMZN":"亚马逊"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021080821100379de3c1a&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2157941336","content_text":"据美国媒体 WIRED 报道，亚马逊已大幅削减其在英国的无人机交付项目 Prime Air。目前该项目的部分业务已被关闭，100 多个工作岗位遭到裁撤。亚马逊在 2013 年的时候首次向世界展示其无人机送货的愿景，并于 2016 年在英国剑桥设立了 Prime Air 的研发基地。不过，到现在其无人机送货队伍仍未真正落地。最近，该项目曾经的工作人员向 WIRED 讲述了这个项目背后的混乱。他们称该项目曾经在一个月内换了 3 个经理，并且后期来的领导全是不懂技术的行外人，往往朝令夕改，对项目提供不了任何帮助。此外，员工也会消极怠工，甚至有人在工作时间坐在工位上大喝啤酒。一、亚马逊无人机送货项目大裁员，100 多人失业随着亚马逊关闭其在英国的部分业务，亚马逊 Prime Air 的 100 多名员工已经失业，数十名其他职位的员工正在转移到英国以外的其他项目。内部人士称，这个于 2016 年启动的项目能否继续下去还无法确定。一些曾经在该项目工作过的人士告诉 WIRED，称近年来 Prime Air 内部的问题越来越多，比如被新任命的经理对项目知之甚少，甚至无法回答基本的工作问题，有员工在办公桌前大喝啤酒，还一些员工被迫在哥斯达黎加培训他们的接替者。对此亚马逊向 WIRED 表示仍有一些员工在英国为 Prime Air 工作，但是没有说明具体有多少员工。五年前，Prime Air 在英国的业务被疯狂推广，亚马逊高管声称将在几年内实现无人机投递包裹。他们在剑桥开设了一个巨大的新办公室，还让当地学校参观其秘密的无人机实验室。另外他们还发布了一系列无人机飞行宣传视频，获得了数百万次的点击量。英国监管机构也加快了无人机测试审批的进程，使得英国成为了无人机飞行的理想测试地点，为亚马逊进一步获得其他国家监管部门的批准铺平了道路。▲亚马逊的 Prime Air 送货无人机但是在随后的几年里，巡回的演出推广停止了，宣传视频也从 YouTube 上默默下架，该公司广泛的宣传活动消失了。除了 Jeff Wilke 等亚马逊高管偶尔谈道 \" 交付无人机将在几个月内成为现实 \" 之外，这一项目几乎没有了任何消息。与此同时，在争夺美国监管部门批准的竞争中，亚马逊被美国联合包裹（UPS）和谷歌母公司 Alphabet 旗下的 Wing 抢在了前面。现在，Prime Air 在英国首次试飞 5 年后，该项目的整个英国数据分析团队都被裁员了。亚马逊发言人称，裁员后仍将在 Prime Air 还会在英国开展工作，并且将继续扩大 Prime Air 在英国的影响力，但没有透露将开展什么类型的工作。他还以安全问题为由，拒绝回答曾经充满宣传视频的试飞是否仍在英国进行。该发言人补充道，他们已经为一些受到影响的员工在其业务的其他部门找到了新岗位，不过同样未透露有多少人得到了新工作。二、项目内部频繁换帅，一个月换了 3 个经理该项目的内部人士称，由于员工和管理人员的不断改组，Prime Air 项目于 2019 年底出现裂痕。Prime Air 曾经通过临时工中介进行频繁的招聘壮大了其数据分析团队，这一团队的工作是其在剑桥的业务中很重要的一部分。该团队主要任务是手动浏览试飞镜头并识别相关威胁或物体，以此来通过机器学习训练亚马逊无人机。当时这一团队分为三个小组，分别处理不同的可能对无人机产生威胁的影响，包括人类和动物、天空中的其他人造物体以及 3D 映射。这有助于无人机分辨天空、草坪或者游泳池。据该部门的前员工所说，在 2019 年的最后几个月，从底层员工到经理几乎都在不断地流失。因为团队的员工和高级成员被改组或从项目中撤出，该项目在一个月内甚至出现了 3 个不同的经理。越来越多的高级管理人员开始退出，比如 Tom Denlegh-Maxwell，他从项目启动时就参与了该项目，直到 2019 年 12 月份离开了这个项目。一位前员工说：\" 有段时间我们的团队一次性来了四五个新经理，他们通常在加入 Prime Air 不到一年的时间内就很快离开了。\" 另外一个人将这种情况称作 \" 船沉鼠窜（rats off a sinking ship）\"。他们还说道，许多新任命的人都是亚马逊的终身经理，他们以前专门从事物流或仓库运营，对于该项目正在完成中的工作的技术细节知之甚少。\" 我们永远无法向经理寻求任何关于项目中的技术细节的帮助，因为他们根本不知道如何帮助我们。\" 一位前员工说。三、工程师既要挑战技术难题，又要应对领导朝令夕改在项目频繁换帅的同时，Prime Air 的工程师一边要努力地解决技术上的问题，一边又要应对一系列非技术性的问题。其他无人机公司的目标是使用降落伞从几米或更高的地方投下包裹，而亚马逊的工程师想要让无人机降落在人们家门外，在几乎与地面平齐的地方放下包裹。实现这一目标是一个巨大的工程，对于机器学习来说也是一项挑战。\" 让无人机在人们家门口着陆所需的系统重量很大，这让亚马逊的无人机重量达到了 27 公斤左右，超过了管理机构对于小型无人机所设定的标准，这也意味着多了许多额外的规定。比如管理机构为了避免人们受到碰撞，对超过小型无人机标准的飞行器设定了更高的安全标准。\" 无人机公司 Matternet 的首席执行官 Andreas Raptopoulos 说。布里斯托尔机器人实验室（Bristol robotics Lab）空中机器人技术负责人 Arthur Richards 教授说：\" 最难的部分是离地面的最后两米，机器学习的能力令人吃惊。但是他们犯的错误也同样令人吃惊。\"内部人士称该项目的标准经常会在未作出任何解释的情况下被要求更改，比如他们会被告知要避免无人机通过镜头识别到站在窗户后面的人，但是过一段时间后又被要求做相反的事。另一位消息人士说，他们与亚马逊总部的唯一联系是一位美国高管。他每隔几个月就会来看望这个团队，给他们买披萨饼，然后要求他们把工作量增加一倍。并且这位高管不会做出任何解释，也不会回答任何问题。该消息人士说道：\" 这就好比在地球的另一端有一个家伙告诉你该做什么，然后就拍拍屁股走人了。当你在一个人与人之间交流特别少的组织内时，我不知道你还能指望什么把事情做好。\"四、员工面临被裁风险，上班时间大喝啤酒去年 2 月份 Prime Air 在英国的人类和动物数据分析团队被整个裁撤掉，该团队雇佣的数十个人被重新分配到其他团队。然而仅过去三个月后，这个团队又重新被建立起来，并且重新分配了人员。\" 这是很不正常的，其中肯定出现了很多混乱，公司在没有做长期规划的情况下做出了很多决策。\" 一位前员工说。另一位前员工也说感觉项目一直处于 \" 有组织的混乱 \" 状态。差不多也是在这个时候，亚马逊开始重组并使很多人失去了工作。公司的管理者们在数据分析师的站立式会议上承认，对于非长期合同的人来说，公司曾对他们做出的永久就业的承诺将很难被兑现。这让 Prime Air 团队已经受到打击的士气再次被打击。\" 一切都开始向内崩溃，亚马逊往这里堆积了太多东西。他们让对项目一无所知的人来负责这些事情，并且过度的向外推销，以至于太多的承诺无法兑现。\" 其前员工说。\" 那是一个星期一，大约是中午十一二点，一个家伙从冰箱里拿了一罐啤酒在工位上自顾自的喝了起来。另一位员工在他们的电脑上按下全部通过的按钮，让本应该仔细审核的无人机试飞镜头全部得到了通过，而不管里面是否包含了危险因素。\" 该项目的前员工这样描述当时的场景。在 2020 年到 2021 年这两年间，英国 Prime Air 的员工要么因短期合同到期而离职，要么被裁员。工作人员还说，他们被告知要去哥斯达黎加培训他们自己的接班人。目前，亚马逊未确认英国 Prime Air 团队是否会进一步裁员，也未确认 Prime Air 在全球其他地方的项目是否会外包出去。五、项目长期中断，内部人士怀疑无人机送货无法实现该项目经过长时间的中断，一些内部人士开始怀疑亚马逊能否实现其无人机送货的梦想。\" 我进入那里时，Prime Air 已经出现好几年了，然而在我看来它永远不会离开地面。\" 该项目的前员工说。亚马逊去年在美国获得了监管许可，将允许其在美国进行新的试飞，这一消息被大肆宣传，也引来了外界对即将到来的无人机送货的猜测。然而，亚马逊在 2016 年就在英国获得了同样的许可，却直到现在都没有一支可以使用的无人机送货队伍。对于这个问题，亚马逊没有说明在美国的试飞和在英国的试飞有何不同。Andreas Raptopoulos 说，在几个月或几年内面向大众市场兑现电子商务无人机交付的承诺不现实。他说：\" 我们能否见到下一代大规模电子商务交付方式？我想在 2027 年或 2028 年左右可以见到。但是当有人说‘五年左右’时，你要注意，他的意思往往是‘我不确定，但不是现在’。\"结语：8 年过去，亚马逊无人机送货仍未实现亚马逊的无人机送货计划从提出到现在已经过去了 8 年的时间，却迟迟无法真正落地。现在它内部的问题被曝光，让人看了唏嘘不已，难道亚马逊的无人机送货只能是画的一张大饼无法实现了吗？显然，亚马逊并不打算放弃这一构想，其发言人称将继续在英国开展业务，努力实现利用无人机在 30 分钟内将货物送到客户手中的目标。最近有媒体报道，美团无人机配送即将在深圳开展试点，用户最快 10 分钟就能拿到商品。另外，在这次河南暴雨灾害中，京东物流无人机也参与到了物资运输工作中。除此之外，阿里巴巴、顺丰等电商、物流公司也都在积极的探索无人机送货业务。与亚马逊的无人机送货相比，国内科技公司显然已经走到了前列。来源：智东西","news_type":1},"isVote":1,"tweetType":1,"viewCount":302,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890689174,"gmtCreate":1628113331498,"gmtModify":1703501289371,"author":{"id":"3585991559240251","authorId":"3585991559240251","name":"ganweisheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585991559240251","idStr":"3585991559240251"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/890689174","repostId":"1187165636","repostType":4,"isVote":1,"tweetType":1,"viewCount":649,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890361563,"gmtCreate":1628084090852,"gmtModify":1703500886387,"author":{"id":"3585991559240251","authorId":"3585991559240251","name":"ganweisheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585991559240251","idStr":"3585991559240251"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/890361563","repostId":"1163400390","repostType":4,"repost":{"id":"1163400390","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":1628077338,"share":"https://ttm.financial/m/news/1163400390?lang=&edition=fundamental","pubTime":"2021-08-04 19:42","market":"us","language":"en","title":"Toplines Before US Market Open on Wednesday","url":"https://stock-news.laohu8.com/highlight/detail?id=1163400390","media":"Tiger Newspress","summary":"(Update: August 4, 2021 at 8:28 a.m. ET)\n(Aug 4) Stock futures arewobblingafter the S&P 500 hit its ","content":"<p><i>(Update: August 4, 2021 at 8:28 a.m. ET)</i></p>\n<p>(Aug&nbsp;4)&nbsp;Stock futures arewobblingafter the S&amp;P 500 hit its 42nd record close of the year, as investors weighstrong corporate earningsagainst the potentialthreat of the Delta variantof Covid-19.</p>\n<p>At 08:28 a.m. ET, Dow E-minis were down 76 points, or 0.22%, S&amp;P 500 E-minis fell 7&nbsp;points, or 0.16% and Nasdaq 100 E-minis slid&nbsp;9&nbsp;points, or 0.06%&nbsp;.</p>\n<p><img src=\"https://static.tigerbbs.com/11f1103ecd5b5a67bec56afafdc8276f\" tg-width=\"1242\" tg-height=\"500\" width=\"100%\" height=\"auto\"></p>\n<p><b>Stocks making the biggest moves premarket：</b></p>\n<p><b>1)&nbsp;General Motors(GM)</b> – General Motors missed the consensus estimate of $2.23 per share with an adjusted second-quarter profit of $1.97 per share, though revenue did top Wall Street forecasts. GM did raise its forecast for the remainder of the year, based on strong demand and pricing. GM initially fell 3% in the premarket but then bounced back to recover most of that loss.</p>\n<p><b>2)&nbsp;CVS Health(CVS)</b> – CVS earned an adjusted $2.42 per share for the second quarter, beating the $2.06 consensus estimate, with revenue beating forecasts as well. The drug store and pharmacy benefits company also saw same-store sales rise a better than expected 12.3%. Separately, CVS also announced it was raising its minimum wage for employees to $15 per hour.</p>\n<p><b>3)&nbsp;Kraft Heinz(KHC) </b>– Kraft Heinz beat estimates by 6 cents with adjusted quarterly earnings of 78 cents per share, while the food producer’s revenue also exceeded estimates. Demand continued to be strong during the quarter for the company’s snacks and packaged meals.</p>\n<p><b>4)&nbsp;Tupperware(TUP) </b>– Tupperware shares jumped 2.5% in the premarket, after beating on the top and bottom lines for the second quarter. The maker of household storage products earned an adjusted 95 cents per share, well above the 57 cent consensus estimate.</p>\n<p><b>5)&nbsp;Robinhood(HOOD)</b> – The trading platform’s stock soared 13.1% in premarket trading, on top of a 24.2% gain in Tuesday trading, when it rose above its $38 per share IPO price for the first time since going public last Thursday. It was also among yesterday’s most heavily traded stocks.</p>\n<p><b>6)&nbsp;Activision Blizzard(ATVI)</b> – Activision Blizzard beat estimates by 15 cents with adjusted quarterly earnings of 91 cents per share and the videogame producer’s revenue was slightly above Wall Street forecasts. It also gave an upbeat forecast, anticipating continued strong demand for popular franchises like “Candy Crush” and “Call of Duty”. Shares rallied 5.6% in premarket trading.</p>\n<p><b>7)&nbsp;Amgen(AMGN) </b>– Amgen earned an adjusted $4.38 per share for its latest quarter, compared with a consensus estimate of $4.09. The biotech giant’s revenue topped analyst estimates as well, although it said visits and procedures remain below pre-pandemic levels. Amgen also said it is in a dispute with the IRS, fighting a claim that it owes $3.6 billion in back taxes.</p>\n<p><b>8)&nbsp;Lyft(LYFT) </b>– Lyft reported an adjusted quarterly loss of 5 cents per share, smaller than the 24 cent loss predicted by analysts, with the ride-hailing service coming in with better-than-expected revenue. Lyft saw strong ride-hailing demand and did reach profitability as measured by earnings before interest, taxes, depreciation and amortization (EBITDA).</p>\n<p><b>9)&nbsp;Match Group(MTCH)</b> – Match Group fell 6 cents shy of estimates with quarterly earnings of 46 cents per share, although the operator of Tinder and other dating services did see revenue exceed forecasts. Revenue growth for Tinder is accelerating as vaccination rates rise, but Match said recovery is lagging in some important overseas markets. Shares fell 4% in premarket trading.</p>\n<p><b>10)&nbsp;Caesars Entertainment(CZR) </b>– Caesars earned 34 cents per share for its latest quarter, surprising analysts who had expected a loss of 18 cents per share. The casino operator’s revenue exceeded estimates as well, thanks to a strong rebound in the Las Vegas market. Caesars added 2% in premarket action.</p>\n<p><b>11)&nbsp;Affirm Holdings(AFRM)</b> – Affirm added another 2.4% in the premarket, after jumping 3% yesterday. The payment service’s shares are getting a boost from a Bloomberg report that it will partner withApple(AAPL) to offer “buy now, pay later” services for Canadian purchases of Apple devices.</p>\n<p><b>12)&nbsp;Avis Budget(CAR) </b>– Avis Budget rose 1.9% in premarket trading after reporting what it called the best quarter in its history, with surging demand and higher rental prices leading to a tripling in sales. Adjusted earnings per share came to $5.90, compared to a consensus estimate of $1.21.</p>\n<p><b>13)&nbsp;Live Nation(LYV) </b>– Live Nation said sales for its latest quarter surged nearly eight-fold, as live events returned amid an increase in vaccinations. The live event promoter said concerts and other events were selling out quickly, and at ticket prices that were 10% above pre-pandemic levels. Live Nation gained 2.3% in the premarket.</p>\n<p>In FX, the euro dipped after a European Central Bank policy maker said the central bank&nbsp;won’t rush&nbsp;a decision on stimulus. The Bloomberg Dollar Index held little changed and most Group- of-10 currencies traded in narrow ranges. The pound rose for a second day, with some investors expecting the Bank of England to take a hawkish turn on Thursday; the euro slipped to a session low of 1.1842 before trimming losses. New Zealand’s dollar rose against all its G-10 peers as traders boosted bets for interest- rate hikes after the nation’s jobs data beat economists’ estimates. The kiwi was also bolstered by fund-related purchases against the Australian dollar, traders said. The Australian dollar bounced off a session low after a gauge of China’s services activity topped analysts’ estimates. The safe haven Swiss franc and Japanese yen led losses on concern the spread of the delta variant could derail global growth.</p>\n<p>In rates, treasury yields suddenly slumped to session lows of 1.1555% after trading steady for much of the overnight session as market awaits latest quarterly refunding announcement at 8:30am ET. Price action calm over Asia, early European session has seen yields trade in a narrow range. ISM services and ADP employment data also due Wednesday, which may provide some insight ahead of Friday payrolls. No&nbsp;Treasury&nbsp;supply this week, although quarterly refunding announcement at 8:30am ET will draw focus as officials may provide details about the timing of reducing auction sizes.&nbsp; Euro zone government bond yields hovered near recent lows, with the German 10-year yield at -0.489%, little moved by July euro zone purchasing managers index survey data that came in slightly worse than expected.</p>\n<p>In commodities, Brent futures gave up early gains to last trade 0.2% lower at $72.30 a barrel, while U.S. crude was down 0.4% at $70.26 a barrel. Spot gold was up 0.2% at $1,812.9 an ounce.</p>\n<p>Looking at the day ahead, expected data include ADP employment change for July as well as the ISM services index. Key U.S. jobs data this week could stoke market swings if they lead investors to adjust expectations over the Federal Reserve’s likely timeline for eventually tapering stimulus. Fed Vice Chair Richard Clarida is due to&nbsp;speak&nbsp;about monetary policy Wednesday. “Today’s employment figures could rapidly change the market mood,” said Swissquote analyst Ipek Ozkardeskaya. “A strong read should accelerate the thinking that the Fed will get to the tapering stage quicker than otherwise. That could apply a certain pressure on the U.S. stocks.”&nbsp; Separately the Central Bank of Brazil will release its latest monetary policy decision and then Federal Reserve Vice Chair Clarida speaks. Finally, earnings releases today include CVS Health, Booking Holdings, General Motors, Uber, and Toyota.</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>Toplines Before US Market Open on Wednesday</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\">\nToplines Before US Market Open on Wednesday\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-08-04 19:42</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p><i>(Update: August 4, 2021 at 8:28 a.m. ET)</i></p>\n<p>(Aug&nbsp;4)&nbsp;Stock futures arewobblingafter the S&amp;P 500 hit its 42nd record close of the year, as investors weighstrong corporate earningsagainst the potentialthreat of the Delta variantof Covid-19.</p>\n<p>At 08:28 a.m. ET, Dow E-minis were down 76 points, or 0.22%, S&amp;P 500 E-minis fell 7&nbsp;points, or 0.16% and Nasdaq 100 E-minis slid&nbsp;9&nbsp;points, or 0.06%&nbsp;.</p>\n<p><img src=\"https://static.tigerbbs.com/11f1103ecd5b5a67bec56afafdc8276f\" tg-width=\"1242\" tg-height=\"500\" width=\"100%\" height=\"auto\"></p>\n<p><b>Stocks making the biggest moves premarket：</b></p>\n<p><b>1)&nbsp;General Motors(GM)</b> – General Motors missed the consensus estimate of $2.23 per share with an adjusted second-quarter profit of $1.97 per share, though revenue did top Wall Street forecasts. GM did raise its forecast for the remainder of the year, based on strong demand and pricing. GM initially fell 3% in the premarket but then bounced back to recover most of that loss.</p>\n<p><b>2)&nbsp;CVS Health(CVS)</b> – CVS earned an adjusted $2.42 per share for the second quarter, beating the $2.06 consensus estimate, with revenue beating forecasts as well. The drug store and pharmacy benefits company also saw same-store sales rise a better than expected 12.3%. Separately, CVS also announced it was raising its minimum wage for employees to $15 per hour.</p>\n<p><b>3)&nbsp;Kraft Heinz(KHC) </b>– Kraft Heinz beat estimates by 6 cents with adjusted quarterly earnings of 78 cents per share, while the food producer’s revenue also exceeded estimates. Demand continued to be strong during the quarter for the company’s snacks and packaged meals.</p>\n<p><b>4)&nbsp;Tupperware(TUP) </b>– Tupperware shares jumped 2.5% in the premarket, after beating on the top and bottom lines for the second quarter. The maker of household storage products earned an adjusted 95 cents per share, well above the 57 cent consensus estimate.</p>\n<p><b>5)&nbsp;Robinhood(HOOD)</b> – The trading platform’s stock soared 13.1% in premarket trading, on top of a 24.2% gain in Tuesday trading, when it rose above its $38 per share IPO price for the first time since going public last Thursday. It was also among yesterday’s most heavily traded stocks.</p>\n<p><b>6)&nbsp;Activision Blizzard(ATVI)</b> – Activision Blizzard beat estimates by 15 cents with adjusted quarterly earnings of 91 cents per share and the videogame producer’s revenue was slightly above Wall Street forecasts. It also gave an upbeat forecast, anticipating continued strong demand for popular franchises like “Candy Crush” and “Call of Duty”. Shares rallied 5.6% in premarket trading.</p>\n<p><b>7)&nbsp;Amgen(AMGN) </b>– Amgen earned an adjusted $4.38 per share for its latest quarter, compared with a consensus estimate of $4.09. The biotech giant’s revenue topped analyst estimates as well, although it said visits and procedures remain below pre-pandemic levels. Amgen also said it is in a dispute with the IRS, fighting a claim that it owes $3.6 billion in back taxes.</p>\n<p><b>8)&nbsp;Lyft(LYFT) </b>– Lyft reported an adjusted quarterly loss of 5 cents per share, smaller than the 24 cent loss predicted by analysts, with the ride-hailing service coming in with better-than-expected revenue. Lyft saw strong ride-hailing demand and did reach profitability as measured by earnings before interest, taxes, depreciation and amortization (EBITDA).</p>\n<p><b>9)&nbsp;Match Group(MTCH)</b> – Match Group fell 6 cents shy of estimates with quarterly earnings of 46 cents per share, although the operator of Tinder and other dating services did see revenue exceed forecasts. Revenue growth for Tinder is accelerating as vaccination rates rise, but Match said recovery is lagging in some important overseas markets. Shares fell 4% in premarket trading.</p>\n<p><b>10)&nbsp;Caesars Entertainment(CZR) </b>– Caesars earned 34 cents per share for its latest quarter, surprising analysts who had expected a loss of 18 cents per share. The casino operator’s revenue exceeded estimates as well, thanks to a strong rebound in the Las Vegas market. Caesars added 2% in premarket action.</p>\n<p><b>11)&nbsp;Affirm Holdings(AFRM)</b> – Affirm added another 2.4% in the premarket, after jumping 3% yesterday. The payment service’s shares are getting a boost from a Bloomberg report that it will partner withApple(AAPL) to offer “buy now, pay later” services for Canadian purchases of Apple devices.</p>\n<p><b>12)&nbsp;Avis Budget(CAR) </b>– Avis Budget rose 1.9% in premarket trading after reporting what it called the best quarter in its history, with surging demand and higher rental prices leading to a tripling in sales. Adjusted earnings per share came to $5.90, compared to a consensus estimate of $1.21.</p>\n<p><b>13)&nbsp;Live Nation(LYV) </b>– Live Nation said sales for its latest quarter surged nearly eight-fold, as live events returned amid an increase in vaccinations. The live event promoter said concerts and other events were selling out quickly, and at ticket prices that were 10% above pre-pandemic levels. Live Nation gained 2.3% in the premarket.</p>\n<p>In FX, the euro dipped after a European Central Bank policy maker said the central bank&nbsp;won’t rush&nbsp;a decision on stimulus. The Bloomberg Dollar Index held little changed and most Group- of-10 currencies traded in narrow ranges. The pound rose for a second day, with some investors expecting the Bank of England to take a hawkish turn on Thursday; the euro slipped to a session low of 1.1842 before trimming losses. New Zealand’s dollar rose against all its G-10 peers as traders boosted bets for interest- rate hikes after the nation’s jobs data beat economists’ estimates. The kiwi was also bolstered by fund-related purchases against the Australian dollar, traders said. The Australian dollar bounced off a session low after a gauge of China’s services activity topped analysts’ estimates. The safe haven Swiss franc and Japanese yen led losses on concern the spread of the delta variant could derail global growth.</p>\n<p>In rates, treasury yields suddenly slumped to session lows of 1.1555% after trading steady for much of the overnight session as market awaits latest quarterly refunding announcement at 8:30am ET. Price action calm over Asia, early European session has seen yields trade in a narrow range. ISM services and ADP employment data also due Wednesday, which may provide some insight ahead of Friday payrolls. No&nbsp;Treasury&nbsp;supply this week, although quarterly refunding announcement at 8:30am ET will draw focus as officials may provide details about the timing of reducing auction sizes.&nbsp; Euro zone government bond yields hovered near recent lows, with the German 10-year yield at -0.489%, little moved by July euro zone purchasing managers index survey data that came in slightly worse than expected.</p>\n<p>In commodities, Brent futures gave up early gains to last trade 0.2% lower at $72.30 a barrel, while U.S. crude was down 0.4% at $70.26 a barrel. Spot gold was up 0.2% at $1,812.9 an ounce.</p>\n<p>Looking at the day ahead, expected data include ADP employment change for July as well as the ISM services index. Key U.S. jobs data this week could stoke market swings if they lead investors to adjust expectations over the Federal Reserve’s likely timeline for eventually tapering stimulus. Fed Vice Chair Richard Clarida is due to&nbsp;speak&nbsp;about monetary policy Wednesday. “Today’s employment figures could rapidly change the market mood,” said Swissquote analyst Ipek Ozkardeskaya. “A strong read should accelerate the thinking that the Fed will get to the tapering stage quicker than otherwise. That could apply a certain pressure on the U.S. stocks.”&nbsp; Separately the Central Bank of Brazil will release its latest monetary policy decision and then Federal Reserve Vice Chair Clarida speaks. Finally, earnings releases today include CVS Health, Booking Holdings, General Motors, Uber, and Toyota.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163400390","content_text":"(Update: August 4, 2021 at 8:28 a.m. ET)\n(Aug 4) Stock futures arewobblingafter the S&P 500 hit its 42nd record close of the year, as investors weighstrong corporate earningsagainst the potentialthreat of the Delta variantof Covid-19.\nAt 08:28 a.m. ET, Dow E-minis were down 76 points, or 0.22%, S&P 500 E-minis fell 7 points, or 0.16% and Nasdaq 100 E-minis slid 9 points, or 0.06% .\n\nStocks making the biggest moves premarket：\n1) General Motors(GM) – General Motors missed the consensus estimate of $2.23 per share with an adjusted second-quarter profit of $1.97 per share, though revenue did top Wall Street forecasts. GM did raise its forecast for the remainder of the year, based on strong demand and pricing. GM initially fell 3% in the premarket but then bounced back to recover most of that loss.\n2) CVS Health(CVS) – CVS earned an adjusted $2.42 per share for the second quarter, beating the $2.06 consensus estimate, with revenue beating forecasts as well. The drug store and pharmacy benefits company also saw same-store sales rise a better than expected 12.3%. Separately, CVS also announced it was raising its minimum wage for employees to $15 per hour.\n3) Kraft Heinz(KHC) – Kraft Heinz beat estimates by 6 cents with adjusted quarterly earnings of 78 cents per share, while the food producer’s revenue also exceeded estimates. Demand continued to be strong during the quarter for the company’s snacks and packaged meals.\n4) Tupperware(TUP) – Tupperware shares jumped 2.5% in the premarket, after beating on the top and bottom lines for the second quarter. The maker of household storage products earned an adjusted 95 cents per share, well above the 57 cent consensus estimate.\n5) Robinhood(HOOD) – The trading platform’s stock soared 13.1% in premarket trading, on top of a 24.2% gain in Tuesday trading, when it rose above its $38 per share IPO price for the first time since going public last Thursday. It was also among yesterday’s most heavily traded stocks.\n6) Activision Blizzard(ATVI) – Activision Blizzard beat estimates by 15 cents with adjusted quarterly earnings of 91 cents per share and the videogame producer’s revenue was slightly above Wall Street forecasts. It also gave an upbeat forecast, anticipating continued strong demand for popular franchises like “Candy Crush” and “Call of Duty”. Shares rallied 5.6% in premarket trading.\n7) Amgen(AMGN) – Amgen earned an adjusted $4.38 per share for its latest quarter, compared with a consensus estimate of $4.09. The biotech giant’s revenue topped analyst estimates as well, although it said visits and procedures remain below pre-pandemic levels. Amgen also said it is in a dispute with the IRS, fighting a claim that it owes $3.6 billion in back taxes.\n8) Lyft(LYFT) – Lyft reported an adjusted quarterly loss of 5 cents per share, smaller than the 24 cent loss predicted by analysts, with the ride-hailing service coming in with better-than-expected revenue. Lyft saw strong ride-hailing demand and did reach profitability as measured by earnings before interest, taxes, depreciation and amortization (EBITDA).\n9) Match Group(MTCH) – Match Group fell 6 cents shy of estimates with quarterly earnings of 46 cents per share, although the operator of Tinder and other dating services did see revenue exceed forecasts. Revenue growth for Tinder is accelerating as vaccination rates rise, but Match said recovery is lagging in some important overseas markets. Shares fell 4% in premarket trading.\n10) Caesars Entertainment(CZR) – Caesars earned 34 cents per share for its latest quarter, surprising analysts who had expected a loss of 18 cents per share. The casino operator’s revenue exceeded estimates as well, thanks to a strong rebound in the Las Vegas market. Caesars added 2% in premarket action.\n11) Affirm Holdings(AFRM) – Affirm added another 2.4% in the premarket, after jumping 3% yesterday. The payment service’s shares are getting a boost from a Bloomberg report that it will partner withApple(AAPL) to offer “buy now, pay later” services for Canadian purchases of Apple devices.\n12) Avis Budget(CAR) – Avis Budget rose 1.9% in premarket trading after reporting what it called the best quarter in its history, with surging demand and higher rental prices leading to a tripling in sales. Adjusted earnings per share came to $5.90, compared to a consensus estimate of $1.21.\n13) Live Nation(LYV) – Live Nation said sales for its latest quarter surged nearly eight-fold, as live events returned amid an increase in vaccinations. The live event promoter said concerts and other events were selling out quickly, and at ticket prices that were 10% above pre-pandemic levels. Live Nation gained 2.3% in the premarket.\nIn FX, the euro dipped after a European Central Bank policy maker said the central bank won’t rush a decision on stimulus. The Bloomberg Dollar Index held little changed and most Group- of-10 currencies traded in narrow ranges. The pound rose for a second day, with some investors expecting the Bank of England to take a hawkish turn on Thursday; the euro slipped to a session low of 1.1842 before trimming losses. New Zealand’s dollar rose against all its G-10 peers as traders boosted bets for interest- rate hikes after the nation’s jobs data beat economists’ estimates. The kiwi was also bolstered by fund-related purchases against the Australian dollar, traders said. The Australian dollar bounced off a session low after a gauge of China’s services activity topped analysts’ estimates. The safe haven Swiss franc and Japanese yen led losses on concern the spread of the delta variant could derail global growth.\nIn rates, treasury yields suddenly slumped to session lows of 1.1555% after trading steady for much of the overnight session as market awaits latest quarterly refunding announcement at 8:30am ET. Price action calm over Asia, early European session has seen yields trade in a narrow range. ISM services and ADP employment data also due Wednesday, which may provide some insight ahead of Friday payrolls. No Treasury supply this week, although quarterly refunding announcement at 8:30am ET will draw focus as officials may provide details about the timing of reducing auction sizes.  Euro zone government bond yields hovered near recent lows, with the German 10-year yield at -0.489%, little moved by July euro zone purchasing managers index survey data that came in slightly worse than expected.\nIn commodities, Brent futures gave up early gains to last trade 0.2% lower at $72.30 a barrel, while U.S. crude was down 0.4% at $70.26 a barrel. Spot gold was up 0.2% at $1,812.9 an ounce.\nLooking at the day ahead, expected data include ADP employment change for July as well as the ISM services index. Key U.S. jobs data this week could stoke market swings if they lead investors to adjust expectations over the Federal Reserve’s likely timeline for eventually tapering stimulus. Fed Vice Chair Richard Clarida is due to speak about monetary policy Wednesday. “Today’s employment figures could rapidly change the market mood,” said Swissquote analyst Ipek Ozkardeskaya. “A strong read should accelerate the thinking that the Fed will get to the tapering stage quicker than otherwise. That could apply a certain pressure on the U.S. stocks.”  Separately the Central Bank of Brazil will release its latest monetary policy decision and then Federal Reserve Vice Chair Clarida speaks. Finally, earnings releases today include CVS Health, Booking Holdings, General Motors, Uber, and Toyota.","news_type":1},"isVote":1,"tweetType":1,"viewCount":364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807826354,"gmtCreate":1628030968878,"gmtModify":1703499754483,"author":{"id":"3585991559240251","authorId":"3585991559240251","name":"ganweisheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585991559240251","idStr":"3585991559240251"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/807826354","repostId":"2156473129","repostType":4,"repost":{"id":"2156473129","kind":"highlight","pubTimestamp":1628001180,"share":"https://ttm.financial/m/news/2156473129?lang=&edition=fundamental","pubTime":"2021-08-03 22:33","market":"us","language":"en","title":"Robinhood: Why You Need to Understand Payment for Order Flow","url":"https://stock-news.laohu8.com/highlight/detail?id=2156473129","media":"Motley Fool","summary":"It's a small piece of financial jargon that poses a potentially existential risk to Robinhood's business.","content":"<p>If you're a curious observer of <b>Robinhood Markets</b>' (NASDAQ:HOOD) recent initial public offering, you've likely heard the term \"payment for order flow.\" Market pundits continue to debate whether it benefits or harms retail investors.</p>\n<p>Traditional stockbroking models have gone out the window. Brokers used to charge a fee to execute a trade for a client -- nominal in many cases, but higher if there was some advice attached. Now, investors can buy and sell stocks completely free of charge through their smartphones, thanks to a consumer revolution led by Robinhood -- and its reliance on a different revenue source.</p>\n<p>Payment for order flow involves Robinhood selling its customer's market orders to third parties, who execute them and earn fees for doing so, with a portion given to Robinhood as payment for routing the customer's order to that particular third party.</p>\n<p>Put really simply, instead of the customer paying a direct commission, the customer has effectively become the product.</p>\n<p><img src=\"https://static.tigerbbs.com/47a6ac9c1c06da81193b76e20952166c\" tg-width=\"700\" tg-height=\"469\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>How it works</h3>\n<p>Most people with an understanding of the stock market know that when someone purchases shares, there needs to be a willing seller. The two parties use a broker to meet digitally at a stock exchange (like the New York Stock Exchange or the Nasdaq Stock Market), where their transaction is facilitated.</p>\n<p>But times have changed. The chairman of America's market regulator, the Securities and Exchange Commission (SEC), recently noted that only 53% of all customer orders actually go through an exchange. About 38% are handled by wholesalers instead, more formally known as market makers.</p>\n<p>That's where payment for order flow takes center stage.</p>\n<p>Market makers stand ready to buy and sell shares each trading day. They make money by setting the bid-ask spread. Let's say a market maker is willing to buy a share of <b>Apple</b> for $145.50, and it's willing to sell a share for $145.60. The difference of $0.10 (the spread) is its profit.</p>\n<p>When a Robinhood customer places a market order to buy or sell shares of Apple, rather being matched with a seller in the market, they are instead routed to a market maker, because it can be relied on to absorb the transaction in the blink of an eye.</p>\n<p>Market makers can compete with each other for this order flow by lowering spreads -- for example, <a href=\"https://laohu8.com/S/AONE.U\">one</a> might charge a spread of $0.07 instead of $0.10, so the broker would route the order to that firm to get its customer a better price.</p>\n<p>Alternatively, and controversially, market makers can simply pay Robinhood to route its customers' orders to them, partly removing the need to compete. It has drummed up concerns among regulators that retail investors are getting a raw deal when it comes to the pricing and execution of their orders.</p>\n<p>In December 2020, Robinhood paid a $65 million settlement to the SEC after the regulator discovered the practice had deprived customers of $34.1 million, caused by inferior order pricing -- and that's <i>after </i>accounting for customers paying zero commissions.</p>\n<h3>Follow the money</h3>\n<p>Most market making firms are private enterprises, but the publicly traded <b>Virtu Financial</b>&nbsp;offers some insight into just how profitable payment for order flow might be. Although Virtu is not specifically listed as one of the market makers Robinhood routes orders to, it is listed on the New York Stock Exchange website among one of three designated market makers (DMMs).</p>\n<table>\n <thead>\n  <tr>\n   <th><p>Metric</p></th>\n   <th><p>Q1 2021</p></th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td><p>Brokerage, exchange, clearance fees and payments for order flow, net</p></td>\n   <td><p>$259 million</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue</p></td>\n   <td><p>$1.01 billion</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Data source: Virtu Financial.</p>\n<p>Virtu lumps the expense in with other related costs, but the $259 million it spent in that category (in a single quarter) made up almost half of its entire operating expenses. Plus, it's growing -- it spent 49% more on this line item in Q1 2021 than it did in the same quarter last year.</p>\n<p>For the full year 2020, Virtu spent $758 million on the brokerage, exchange, clearance fees and payments for order flow expense -- a number it seems sure to top in 2021 given Q1 numbers.</p>\n<h3>Investor takeaway</h3>\n<p>Payment for order flow is practically the beginning and end of Robinhood's business, at least financially. In 2020, at least 75% of the company's $958 million in revenue was generated from the controversial practice. In the first quarter of 2021, it jumped to 81% of total revenue.</p>\n<p>Suffice to say, concentrating so much of the business on an activity regulators are so intensely scrutinizing presents an unparalleled risk to shareholders. Among the SEC's concerns is that retail investors are perceiving their experience as free, when in fact they're being charged fees they can't see in the form of paying a worse price for the shares they're buying.</p>\n<p>To make matters worse, the SEC has outlined concerns about \"gamified\" investment platforms that encourage clients to trade by using appealing visual graphics. These features in part have fueled investor appetite for \"meme stocks\" like <b>GameStop</b>&nbsp;and <b>AMC Entertainment</b>, and the SEC says they contribute to worse outcomes for clients. The surge in both of these stocks (based on no real fundamental reason) was synonymous with the Robinhood platform.</p>\n<p>Robinhood can be praised for bringing a wave of new, younger investors into the financial markets, and that's a long-term positive. But its main source of revenue isn't a legal practice in places like the United Kingdom, and the European Union has issued a warning to brokers, saying that accepting payments for order flow is not compatible with rules that put client needs first.</p>\n<p>Investors considering a long-term position in Robinhood might want to weigh up the risks against the company's growth prospects, since for now it looks like they are confined to the U.S. -- and even that's not a guarantee.</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>Robinhood: Why You Need to Understand Payment for Order Flow</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\">\nRobinhood: Why You Need to Understand Payment for Order Flow\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-03 22:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/08/03/robinhood-understand-payment-for-order-flow/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you're a curious observer of Robinhood Markets' (NASDAQ:HOOD) recent initial public offering, you've likely heard the term \"payment for order flow.\" Market pundits continue to debate whether it ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/03/robinhood-understand-payment-for-order-flow/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HOOD":"Robinhood"},"source_url":"https://www.fool.com/investing/2021/08/03/robinhood-understand-payment-for-order-flow/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2156473129","content_text":"If you're a curious observer of Robinhood Markets' (NASDAQ:HOOD) recent initial public offering, you've likely heard the term \"payment for order flow.\" Market pundits continue to debate whether it benefits or harms retail investors.\nTraditional stockbroking models have gone out the window. Brokers used to charge a fee to execute a trade for a client -- nominal in many cases, but higher if there was some advice attached. Now, investors can buy and sell stocks completely free of charge through their smartphones, thanks to a consumer revolution led by Robinhood -- and its reliance on a different revenue source.\nPayment for order flow involves Robinhood selling its customer's market orders to third parties, who execute them and earn fees for doing so, with a portion given to Robinhood as payment for routing the customer's order to that particular third party.\nPut really simply, instead of the customer paying a direct commission, the customer has effectively become the product.\n\nImage source: Getty Images.\nHow it works\nMost people with an understanding of the stock market know that when someone purchases shares, there needs to be a willing seller. The two parties use a broker to meet digitally at a stock exchange (like the New York Stock Exchange or the Nasdaq Stock Market), where their transaction is facilitated.\nBut times have changed. The chairman of America's market regulator, the Securities and Exchange Commission (SEC), recently noted that only 53% of all customer orders actually go through an exchange. About 38% are handled by wholesalers instead, more formally known as market makers.\nThat's where payment for order flow takes center stage.\nMarket makers stand ready to buy and sell shares each trading day. They make money by setting the bid-ask spread. Let's say a market maker is willing to buy a share of Apple for $145.50, and it's willing to sell a share for $145.60. The difference of $0.10 (the spread) is its profit.\nWhen a Robinhood customer places a market order to buy or sell shares of Apple, rather being matched with a seller in the market, they are instead routed to a market maker, because it can be relied on to absorb the transaction in the blink of an eye.\nMarket makers can compete with each other for this order flow by lowering spreads -- for example, one might charge a spread of $0.07 instead of $0.10, so the broker would route the order to that firm to get its customer a better price.\nAlternatively, and controversially, market makers can simply pay Robinhood to route its customers' orders to them, partly removing the need to compete. It has drummed up concerns among regulators that retail investors are getting a raw deal when it comes to the pricing and execution of their orders.\nIn December 2020, Robinhood paid a $65 million settlement to the SEC after the regulator discovered the practice had deprived customers of $34.1 million, caused by inferior order pricing -- and that's after accounting for customers paying zero commissions.\nFollow the money\nMost market making firms are private enterprises, but the publicly traded Virtu Financial offers some insight into just how profitable payment for order flow might be. Although Virtu is not specifically listed as one of the market makers Robinhood routes orders to, it is listed on the New York Stock Exchange website among one of three designated market makers (DMMs).\n\n\n\nMetric\nQ1 2021\n\n\n\n\nBrokerage, exchange, clearance fees and payments for order flow, net\n$259 million\n\n\nRevenue\n$1.01 billion\n\n\n\nData source: Virtu Financial.\nVirtu lumps the expense in with other related costs, but the $259 million it spent in that category (in a single quarter) made up almost half of its entire operating expenses. Plus, it's growing -- it spent 49% more on this line item in Q1 2021 than it did in the same quarter last year.\nFor the full year 2020, Virtu spent $758 million on the brokerage, exchange, clearance fees and payments for order flow expense -- a number it seems sure to top in 2021 given Q1 numbers.\nInvestor takeaway\nPayment for order flow is practically the beginning and end of Robinhood's business, at least financially. In 2020, at least 75% of the company's $958 million in revenue was generated from the controversial practice. In the first quarter of 2021, it jumped to 81% of total revenue.\nSuffice to say, concentrating so much of the business on an activity regulators are so intensely scrutinizing presents an unparalleled risk to shareholders. Among the SEC's concerns is that retail investors are perceiving their experience as free, when in fact they're being charged fees they can't see in the form of paying a worse price for the shares they're buying.\nTo make matters worse, the SEC has outlined concerns about \"gamified\" investment platforms that encourage clients to trade by using appealing visual graphics. These features in part have fueled investor appetite for \"meme stocks\" like GameStop and AMC Entertainment, and the SEC says they contribute to worse outcomes for clients. The surge in both of these stocks (based on no real fundamental reason) was synonymous with the Robinhood platform.\nRobinhood can be praised for bringing a wave of new, younger investors into the financial markets, and that's a long-term positive. But its main source of revenue isn't a legal practice in places like the United Kingdom, and the European Union has issued a warning to brokers, saying that accepting payments for order flow is not compatible with rules that put client needs first.\nInvestors considering a long-term position in Robinhood might want to weigh up the risks against the company's growth prospects, since for now it looks like they are confined to the U.S. -- and even that's not a guarantee.","news_type":1},"isVote":1,"tweetType":1,"viewCount":348,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807821639,"gmtCreate":1628030847321,"gmtModify":1703499750099,"author":{"id":"3585991559240251","authorId":"3585991559240251","name":"ganweisheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585991559240251","idStr":"3585991559240251"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/807821639","repostId":"2156473129","repostType":4,"repost":{"id":"2156473129","kind":"highlight","pubTimestamp":1628001180,"share":"https://ttm.financial/m/news/2156473129?lang=&edition=fundamental","pubTime":"2021-08-03 22:33","market":"us","language":"en","title":"Robinhood: Why You Need to Understand Payment for Order Flow","url":"https://stock-news.laohu8.com/highlight/detail?id=2156473129","media":"Motley Fool","summary":"It's a small piece of financial jargon that poses a potentially existential risk to Robinhood's business.","content":"<p>If you're a curious observer of <b>Robinhood Markets</b>' (NASDAQ:HOOD) recent initial public offering, you've likely heard the term \"payment for order flow.\" Market pundits continue to debate whether it benefits or harms retail investors.</p>\n<p>Traditional stockbroking models have gone out the window. Brokers used to charge a fee to execute a trade for a client -- nominal in many cases, but higher if there was some advice attached. Now, investors can buy and sell stocks completely free of charge through their smartphones, thanks to a consumer revolution led by Robinhood -- and its reliance on a different revenue source.</p>\n<p>Payment for order flow involves Robinhood selling its customer's market orders to third parties, who execute them and earn fees for doing so, with a portion given to Robinhood as payment for routing the customer's order to that particular third party.</p>\n<p>Put really simply, instead of the customer paying a direct commission, the customer has effectively become the product.</p>\n<p><img src=\"https://static.tigerbbs.com/47a6ac9c1c06da81193b76e20952166c\" tg-width=\"700\" tg-height=\"469\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>How it works</h3>\n<p>Most people with an understanding of the stock market know that when someone purchases shares, there needs to be a willing seller. The two parties use a broker to meet digitally at a stock exchange (like the New York Stock Exchange or the Nasdaq Stock Market), where their transaction is facilitated.</p>\n<p>But times have changed. The chairman of America's market regulator, the Securities and Exchange Commission (SEC), recently noted that only 53% of all customer orders actually go through an exchange. About 38% are handled by wholesalers instead, more formally known as market makers.</p>\n<p>That's where payment for order flow takes center stage.</p>\n<p>Market makers stand ready to buy and sell shares each trading day. They make money by setting the bid-ask spread. Let's say a market maker is willing to buy a share of <b>Apple</b> for $145.50, and it's willing to sell a share for $145.60. The difference of $0.10 (the spread) is its profit.</p>\n<p>When a Robinhood customer places a market order to buy or sell shares of Apple, rather being matched with a seller in the market, they are instead routed to a market maker, because it can be relied on to absorb the transaction in the blink of an eye.</p>\n<p>Market makers can compete with each other for this order flow by lowering spreads -- for example, <a href=\"https://laohu8.com/S/AONE.U\">one</a> might charge a spread of $0.07 instead of $0.10, so the broker would route the order to that firm to get its customer a better price.</p>\n<p>Alternatively, and controversially, market makers can simply pay Robinhood to route its customers' orders to them, partly removing the need to compete. It has drummed up concerns among regulators that retail investors are getting a raw deal when it comes to the pricing and execution of their orders.</p>\n<p>In December 2020, Robinhood paid a $65 million settlement to the SEC after the regulator discovered the practice had deprived customers of $34.1 million, caused by inferior order pricing -- and that's <i>after </i>accounting for customers paying zero commissions.</p>\n<h3>Follow the money</h3>\n<p>Most market making firms are private enterprises, but the publicly traded <b>Virtu Financial</b>&nbsp;offers some insight into just how profitable payment for order flow might be. Although Virtu is not specifically listed as one of the market makers Robinhood routes orders to, it is listed on the New York Stock Exchange website among one of three designated market makers (DMMs).</p>\n<table>\n <thead>\n  <tr>\n   <th><p>Metric</p></th>\n   <th><p>Q1 2021</p></th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td><p>Brokerage, exchange, clearance fees and payments for order flow, net</p></td>\n   <td><p>$259 million</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue</p></td>\n   <td><p>$1.01 billion</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Data source: Virtu Financial.</p>\n<p>Virtu lumps the expense in with other related costs, but the $259 million it spent in that category (in a single quarter) made up almost half of its entire operating expenses. Plus, it's growing -- it spent 49% more on this line item in Q1 2021 than it did in the same quarter last year.</p>\n<p>For the full year 2020, Virtu spent $758 million on the brokerage, exchange, clearance fees and payments for order flow expense -- a number it seems sure to top in 2021 given Q1 numbers.</p>\n<h3>Investor takeaway</h3>\n<p>Payment for order flow is practically the beginning and end of Robinhood's business, at least financially. In 2020, at least 75% of the company's $958 million in revenue was generated from the controversial practice. In the first quarter of 2021, it jumped to 81% of total revenue.</p>\n<p>Suffice to say, concentrating so much of the business on an activity regulators are so intensely scrutinizing presents an unparalleled risk to shareholders. Among the SEC's concerns is that retail investors are perceiving their experience as free, when in fact they're being charged fees they can't see in the form of paying a worse price for the shares they're buying.</p>\n<p>To make matters worse, the SEC has outlined concerns about \"gamified\" investment platforms that encourage clients to trade by using appealing visual graphics. These features in part have fueled investor appetite for \"meme stocks\" like <b>GameStop</b>&nbsp;and <b>AMC Entertainment</b>, and the SEC says they contribute to worse outcomes for clients. The surge in both of these stocks (based on no real fundamental reason) was synonymous with the Robinhood platform.</p>\n<p>Robinhood can be praised for bringing a wave of new, younger investors into the financial markets, and that's a long-term positive. But its main source of revenue isn't a legal practice in places like the United Kingdom, and the European Union has issued a warning to brokers, saying that accepting payments for order flow is not compatible with rules that put client needs first.</p>\n<p>Investors considering a long-term position in Robinhood might want to weigh up the risks against the company's growth prospects, since for now it looks like they are confined to the U.S. -- and even that's not a guarantee.</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>Robinhood: Why You Need to Understand Payment for Order Flow</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\">\nRobinhood: Why You Need to Understand Payment for Order Flow\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-03 22:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/08/03/robinhood-understand-payment-for-order-flow/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you're a curious observer of Robinhood Markets' (NASDAQ:HOOD) recent initial public offering, you've likely heard the term \"payment for order flow.\" Market pundits continue to debate whether it ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/03/robinhood-understand-payment-for-order-flow/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HOOD":"Robinhood"},"source_url":"https://www.fool.com/investing/2021/08/03/robinhood-understand-payment-for-order-flow/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2156473129","content_text":"If you're a curious observer of Robinhood Markets' (NASDAQ:HOOD) recent initial public offering, you've likely heard the term \"payment for order flow.\" Market pundits continue to debate whether it benefits or harms retail investors.\nTraditional stockbroking models have gone out the window. Brokers used to charge a fee to execute a trade for a client -- nominal in many cases, but higher if there was some advice attached. Now, investors can buy and sell stocks completely free of charge through their smartphones, thanks to a consumer revolution led by Robinhood -- and its reliance on a different revenue source.\nPayment for order flow involves Robinhood selling its customer's market orders to third parties, who execute them and earn fees for doing so, with a portion given to Robinhood as payment for routing the customer's order to that particular third party.\nPut really simply, instead of the customer paying a direct commission, the customer has effectively become the product.\n\nImage source: Getty Images.\nHow it works\nMost people with an understanding of the stock market know that when someone purchases shares, there needs to be a willing seller. The two parties use a broker to meet digitally at a stock exchange (like the New York Stock Exchange or the Nasdaq Stock Market), where their transaction is facilitated.\nBut times have changed. The chairman of America's market regulator, the Securities and Exchange Commission (SEC), recently noted that only 53% of all customer orders actually go through an exchange. About 38% are handled by wholesalers instead, more formally known as market makers.\nThat's where payment for order flow takes center stage.\nMarket makers stand ready to buy and sell shares each trading day. They make money by setting the bid-ask spread. Let's say a market maker is willing to buy a share of Apple for $145.50, and it's willing to sell a share for $145.60. The difference of $0.10 (the spread) is its profit.\nWhen a Robinhood customer places a market order to buy or sell shares of Apple, rather being matched with a seller in the market, they are instead routed to a market maker, because it can be relied on to absorb the transaction in the blink of an eye.\nMarket makers can compete with each other for this order flow by lowering spreads -- for example, one might charge a spread of $0.07 instead of $0.10, so the broker would route the order to that firm to get its customer a better price.\nAlternatively, and controversially, market makers can simply pay Robinhood to route its customers' orders to them, partly removing the need to compete. It has drummed up concerns among regulators that retail investors are getting a raw deal when it comes to the pricing and execution of their orders.\nIn December 2020, Robinhood paid a $65 million settlement to the SEC after the regulator discovered the practice had deprived customers of $34.1 million, caused by inferior order pricing -- and that's after accounting for customers paying zero commissions.\nFollow the money\nMost market making firms are private enterprises, but the publicly traded Virtu Financial offers some insight into just how profitable payment for order flow might be. Although Virtu is not specifically listed as one of the market makers Robinhood routes orders to, it is listed on the New York Stock Exchange website among one of three designated market makers (DMMs).\n\n\n\nMetric\nQ1 2021\n\n\n\n\nBrokerage, exchange, clearance fees and payments for order flow, net\n$259 million\n\n\nRevenue\n$1.01 billion\n\n\n\nData source: Virtu Financial.\nVirtu lumps the expense in with other related costs, but the $259 million it spent in that category (in a single quarter) made up almost half of its entire operating expenses. Plus, it's growing -- it spent 49% more on this line item in Q1 2021 than it did in the same quarter last year.\nFor the full year 2020, Virtu spent $758 million on the brokerage, exchange, clearance fees and payments for order flow expense -- a number it seems sure to top in 2021 given Q1 numbers.\nInvestor takeaway\nPayment for order flow is practically the beginning and end of Robinhood's business, at least financially. In 2020, at least 75% of the company's $958 million in revenue was generated from the controversial practice. In the first quarter of 2021, it jumped to 81% of total revenue.\nSuffice to say, concentrating so much of the business on an activity regulators are so intensely scrutinizing presents an unparalleled risk to shareholders. Among the SEC's concerns is that retail investors are perceiving their experience as free, when in fact they're being charged fees they can't see in the form of paying a worse price for the shares they're buying.\nTo make matters worse, the SEC has outlined concerns about \"gamified\" investment platforms that encourage clients to trade by using appealing visual graphics. These features in part have fueled investor appetite for \"meme stocks\" like GameStop and AMC Entertainment, and the SEC says they contribute to worse outcomes for clients. The surge in both of these stocks (based on no real fundamental reason) was synonymous with the Robinhood platform.\nRobinhood can be praised for bringing a wave of new, younger investors into the financial markets, and that's a long-term positive. But its main source of revenue isn't a legal practice in places like the United Kingdom, and the European Union has issued a warning to brokers, saying that accepting payments for order flow is not compatible with rules that put client needs first.\nInvestors considering a long-term position in Robinhood might want to weigh up the risks against the company's growth prospects, since for now it looks like they are confined to the U.S. -- and even that's not a guarantee.","news_type":1},"isVote":1,"tweetType":1,"viewCount":310,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807314782,"gmtCreate":1628000369246,"gmtModify":1703499440249,"author":{"id":"3585991559240251","authorId":"3585991559240251","name":"ganweisheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585991559240251","idStr":"3585991559240251"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/807314782","repostId":"1148147660","repostType":4,"repost":{"id":"1148147660","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":1627999192,"share":"https://ttm.financial/m/news/1148147660?lang=&edition=fundamental","pubTime":"2021-08-03 21:59","market":"us","language":"en","title":"Most of Chinese stocks were down in morning trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1148147660","media":"Tiger Newspress","summary":"(Aug&nbsp;3)&nbsp;Most of Chinese stocks were down in morning trading.","content":"<p>(Aug&nbsp;3)&nbsp;Most of Chinese stocks were down in morning trading.</p>\n<p><img src=\"https://static.tigerbbs.com/74bb304d0b14c1b9c4528cfe12a67cb4\" tg-width=\"382\" tg-height=\"846\" width=\"100%\" height=\"auto\"></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>Most of Chinese stocks were down in morning trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMost of Chinese stocks were down in morning trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-08-03 21:59</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Aug&nbsp;3)&nbsp;Most of Chinese stocks were down in morning trading.</p>\n<p><img src=\"https://static.tigerbbs.com/74bb304d0b14c1b9c4528cfe12a67cb4\" tg-width=\"382\" tg-height=\"846\" width=\"100%\" height=\"auto\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148147660","content_text":"(Aug 3) Most of Chinese stocks were down in morning trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":562,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":890361563,"gmtCreate":1628084090852,"gmtModify":1703500886387,"author":{"id":"3585991559240251","authorId":"3585991559240251","name":"ganweisheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585991559240251","authorIdStr":"3585991559240251"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/890361563","repostId":"1163400390","repostType":4,"repost":{"id":"1163400390","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":1628077338,"share":"https://ttm.financial/m/news/1163400390?lang=&edition=fundamental","pubTime":"2021-08-04 19:42","market":"us","language":"en","title":"Toplines Before US Market Open on Wednesday","url":"https://stock-news.laohu8.com/highlight/detail?id=1163400390","media":"Tiger Newspress","summary":"(Update: August 4, 2021 at 8:28 a.m. ET)\n(Aug 4) Stock futures arewobblingafter the S&P 500 hit its ","content":"<p><i>(Update: August 4, 2021 at 8:28 a.m. ET)</i></p>\n<p>(Aug&nbsp;4)&nbsp;Stock futures arewobblingafter the S&amp;P 500 hit its 42nd record close of the year, as investors weighstrong corporate earningsagainst the potentialthreat of the Delta variantof Covid-19.</p>\n<p>At 08:28 a.m. ET, Dow E-minis were down 76 points, or 0.22%, S&amp;P 500 E-minis fell 7&nbsp;points, or 0.16% and Nasdaq 100 E-minis slid&nbsp;9&nbsp;points, or 0.06%&nbsp;.</p>\n<p><img src=\"https://static.tigerbbs.com/11f1103ecd5b5a67bec56afafdc8276f\" tg-width=\"1242\" tg-height=\"500\" width=\"100%\" height=\"auto\"></p>\n<p><b>Stocks making the biggest moves premarket：</b></p>\n<p><b>1)&nbsp;General Motors(GM)</b> – General Motors missed the consensus estimate of $2.23 per share with an adjusted second-quarter profit of $1.97 per share, though revenue did top Wall Street forecasts. GM did raise its forecast for the remainder of the year, based on strong demand and pricing. GM initially fell 3% in the premarket but then bounced back to recover most of that loss.</p>\n<p><b>2)&nbsp;CVS Health(CVS)</b> – CVS earned an adjusted $2.42 per share for the second quarter, beating the $2.06 consensus estimate, with revenue beating forecasts as well. The drug store and pharmacy benefits company also saw same-store sales rise a better than expected 12.3%. Separately, CVS also announced it was raising its minimum wage for employees to $15 per hour.</p>\n<p><b>3)&nbsp;Kraft Heinz(KHC) </b>– Kraft Heinz beat estimates by 6 cents with adjusted quarterly earnings of 78 cents per share, while the food producer’s revenue also exceeded estimates. Demand continued to be strong during the quarter for the company’s snacks and packaged meals.</p>\n<p><b>4)&nbsp;Tupperware(TUP) </b>– Tupperware shares jumped 2.5% in the premarket, after beating on the top and bottom lines for the second quarter. The maker of household storage products earned an adjusted 95 cents per share, well above the 57 cent consensus estimate.</p>\n<p><b>5)&nbsp;Robinhood(HOOD)</b> – The trading platform’s stock soared 13.1% in premarket trading, on top of a 24.2% gain in Tuesday trading, when it rose above its $38 per share IPO price for the first time since going public last Thursday. It was also among yesterday’s most heavily traded stocks.</p>\n<p><b>6)&nbsp;Activision Blizzard(ATVI)</b> – Activision Blizzard beat estimates by 15 cents with adjusted quarterly earnings of 91 cents per share and the videogame producer’s revenue was slightly above Wall Street forecasts. It also gave an upbeat forecast, anticipating continued strong demand for popular franchises like “Candy Crush” and “Call of Duty”. Shares rallied 5.6% in premarket trading.</p>\n<p><b>7)&nbsp;Amgen(AMGN) </b>– Amgen earned an adjusted $4.38 per share for its latest quarter, compared with a consensus estimate of $4.09. The biotech giant’s revenue topped analyst estimates as well, although it said visits and procedures remain below pre-pandemic levels. Amgen also said it is in a dispute with the IRS, fighting a claim that it owes $3.6 billion in back taxes.</p>\n<p><b>8)&nbsp;Lyft(LYFT) </b>– Lyft reported an adjusted quarterly loss of 5 cents per share, smaller than the 24 cent loss predicted by analysts, with the ride-hailing service coming in with better-than-expected revenue. Lyft saw strong ride-hailing demand and did reach profitability as measured by earnings before interest, taxes, depreciation and amortization (EBITDA).</p>\n<p><b>9)&nbsp;Match Group(MTCH)</b> – Match Group fell 6 cents shy of estimates with quarterly earnings of 46 cents per share, although the operator of Tinder and other dating services did see revenue exceed forecasts. Revenue growth for Tinder is accelerating as vaccination rates rise, but Match said recovery is lagging in some important overseas markets. Shares fell 4% in premarket trading.</p>\n<p><b>10)&nbsp;Caesars Entertainment(CZR) </b>– Caesars earned 34 cents per share for its latest quarter, surprising analysts who had expected a loss of 18 cents per share. The casino operator’s revenue exceeded estimates as well, thanks to a strong rebound in the Las Vegas market. Caesars added 2% in premarket action.</p>\n<p><b>11)&nbsp;Affirm Holdings(AFRM)</b> – Affirm added another 2.4% in the premarket, after jumping 3% yesterday. The payment service’s shares are getting a boost from a Bloomberg report that it will partner withApple(AAPL) to offer “buy now, pay later” services for Canadian purchases of Apple devices.</p>\n<p><b>12)&nbsp;Avis Budget(CAR) </b>– Avis Budget rose 1.9% in premarket trading after reporting what it called the best quarter in its history, with surging demand and higher rental prices leading to a tripling in sales. Adjusted earnings per share came to $5.90, compared to a consensus estimate of $1.21.</p>\n<p><b>13)&nbsp;Live Nation(LYV) </b>– Live Nation said sales for its latest quarter surged nearly eight-fold, as live events returned amid an increase in vaccinations. The live event promoter said concerts and other events were selling out quickly, and at ticket prices that were 10% above pre-pandemic levels. Live Nation gained 2.3% in the premarket.</p>\n<p>In FX, the euro dipped after a European Central Bank policy maker said the central bank&nbsp;won’t rush&nbsp;a decision on stimulus. The Bloomberg Dollar Index held little changed and most Group- of-10 currencies traded in narrow ranges. The pound rose for a second day, with some investors expecting the Bank of England to take a hawkish turn on Thursday; the euro slipped to a session low of 1.1842 before trimming losses. New Zealand’s dollar rose against all its G-10 peers as traders boosted bets for interest- rate hikes after the nation’s jobs data beat economists’ estimates. The kiwi was also bolstered by fund-related purchases against the Australian dollar, traders said. The Australian dollar bounced off a session low after a gauge of China’s services activity topped analysts’ estimates. The safe haven Swiss franc and Japanese yen led losses on concern the spread of the delta variant could derail global growth.</p>\n<p>In rates, treasury yields suddenly slumped to session lows of 1.1555% after trading steady for much of the overnight session as market awaits latest quarterly refunding announcement at 8:30am ET. Price action calm over Asia, early European session has seen yields trade in a narrow range. ISM services and ADP employment data also due Wednesday, which may provide some insight ahead of Friday payrolls. No&nbsp;Treasury&nbsp;supply this week, although quarterly refunding announcement at 8:30am ET will draw focus as officials may provide details about the timing of reducing auction sizes.&nbsp; Euro zone government bond yields hovered near recent lows, with the German 10-year yield at -0.489%, little moved by July euro zone purchasing managers index survey data that came in slightly worse than expected.</p>\n<p>In commodities, Brent futures gave up early gains to last trade 0.2% lower at $72.30 a barrel, while U.S. crude was down 0.4% at $70.26 a barrel. Spot gold was up 0.2% at $1,812.9 an ounce.</p>\n<p>Looking at the day ahead, expected data include ADP employment change for July as well as the ISM services index. Key U.S. jobs data this week could stoke market swings if they lead investors to adjust expectations over the Federal Reserve’s likely timeline for eventually tapering stimulus. Fed Vice Chair Richard Clarida is due to&nbsp;speak&nbsp;about monetary policy Wednesday. “Today’s employment figures could rapidly change the market mood,” said Swissquote analyst Ipek Ozkardeskaya. “A strong read should accelerate the thinking that the Fed will get to the tapering stage quicker than otherwise. That could apply a certain pressure on the U.S. stocks.”&nbsp; Separately the Central Bank of Brazil will release its latest monetary policy decision and then Federal Reserve Vice Chair Clarida speaks. Finally, earnings releases today include CVS Health, Booking Holdings, General Motors, Uber, and Toyota.</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>Toplines Before US Market Open on Wednesday</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\">\nToplines Before US Market Open on Wednesday\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-08-04 19:42</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p><i>(Update: August 4, 2021 at 8:28 a.m. ET)</i></p>\n<p>(Aug&nbsp;4)&nbsp;Stock futures arewobblingafter the S&amp;P 500 hit its 42nd record close of the year, as investors weighstrong corporate earningsagainst the potentialthreat of the Delta variantof Covid-19.</p>\n<p>At 08:28 a.m. ET, Dow E-minis were down 76 points, or 0.22%, S&amp;P 500 E-minis fell 7&nbsp;points, or 0.16% and Nasdaq 100 E-minis slid&nbsp;9&nbsp;points, or 0.06%&nbsp;.</p>\n<p><img src=\"https://static.tigerbbs.com/11f1103ecd5b5a67bec56afafdc8276f\" tg-width=\"1242\" tg-height=\"500\" width=\"100%\" height=\"auto\"></p>\n<p><b>Stocks making the biggest moves premarket：</b></p>\n<p><b>1)&nbsp;General Motors(GM)</b> – General Motors missed the consensus estimate of $2.23 per share with an adjusted second-quarter profit of $1.97 per share, though revenue did top Wall Street forecasts. GM did raise its forecast for the remainder of the year, based on strong demand and pricing. GM initially fell 3% in the premarket but then bounced back to recover most of that loss.</p>\n<p><b>2)&nbsp;CVS Health(CVS)</b> – CVS earned an adjusted $2.42 per share for the second quarter, beating the $2.06 consensus estimate, with revenue beating forecasts as well. The drug store and pharmacy benefits company also saw same-store sales rise a better than expected 12.3%. Separately, CVS also announced it was raising its minimum wage for employees to $15 per hour.</p>\n<p><b>3)&nbsp;Kraft Heinz(KHC) </b>– Kraft Heinz beat estimates by 6 cents with adjusted quarterly earnings of 78 cents per share, while the food producer’s revenue also exceeded estimates. Demand continued to be strong during the quarter for the company’s snacks and packaged meals.</p>\n<p><b>4)&nbsp;Tupperware(TUP) </b>– Tupperware shares jumped 2.5% in the premarket, after beating on the top and bottom lines for the second quarter. The maker of household storage products earned an adjusted 95 cents per share, well above the 57 cent consensus estimate.</p>\n<p><b>5)&nbsp;Robinhood(HOOD)</b> – The trading platform’s stock soared 13.1% in premarket trading, on top of a 24.2% gain in Tuesday trading, when it rose above its $38 per share IPO price for the first time since going public last Thursday. It was also among yesterday’s most heavily traded stocks.</p>\n<p><b>6)&nbsp;Activision Blizzard(ATVI)</b> – Activision Blizzard beat estimates by 15 cents with adjusted quarterly earnings of 91 cents per share and the videogame producer’s revenue was slightly above Wall Street forecasts. It also gave an upbeat forecast, anticipating continued strong demand for popular franchises like “Candy Crush” and “Call of Duty”. Shares rallied 5.6% in premarket trading.</p>\n<p><b>7)&nbsp;Amgen(AMGN) </b>– Amgen earned an adjusted $4.38 per share for its latest quarter, compared with a consensus estimate of $4.09. The biotech giant’s revenue topped analyst estimates as well, although it said visits and procedures remain below pre-pandemic levels. Amgen also said it is in a dispute with the IRS, fighting a claim that it owes $3.6 billion in back taxes.</p>\n<p><b>8)&nbsp;Lyft(LYFT) </b>– Lyft reported an adjusted quarterly loss of 5 cents per share, smaller than the 24 cent loss predicted by analysts, with the ride-hailing service coming in with better-than-expected revenue. Lyft saw strong ride-hailing demand and did reach profitability as measured by earnings before interest, taxes, depreciation and amortization (EBITDA).</p>\n<p><b>9)&nbsp;Match Group(MTCH)</b> – Match Group fell 6 cents shy of estimates with quarterly earnings of 46 cents per share, although the operator of Tinder and other dating services did see revenue exceed forecasts. Revenue growth for Tinder is accelerating as vaccination rates rise, but Match said recovery is lagging in some important overseas markets. Shares fell 4% in premarket trading.</p>\n<p><b>10)&nbsp;Caesars Entertainment(CZR) </b>– Caesars earned 34 cents per share for its latest quarter, surprising analysts who had expected a loss of 18 cents per share. The casino operator’s revenue exceeded estimates as well, thanks to a strong rebound in the Las Vegas market. Caesars added 2% in premarket action.</p>\n<p><b>11)&nbsp;Affirm Holdings(AFRM)</b> – Affirm added another 2.4% in the premarket, after jumping 3% yesterday. The payment service’s shares are getting a boost from a Bloomberg report that it will partner withApple(AAPL) to offer “buy now, pay later” services for Canadian purchases of Apple devices.</p>\n<p><b>12)&nbsp;Avis Budget(CAR) </b>– Avis Budget rose 1.9% in premarket trading after reporting what it called the best quarter in its history, with surging demand and higher rental prices leading to a tripling in sales. Adjusted earnings per share came to $5.90, compared to a consensus estimate of $1.21.</p>\n<p><b>13)&nbsp;Live Nation(LYV) </b>– Live Nation said sales for its latest quarter surged nearly eight-fold, as live events returned amid an increase in vaccinations. The live event promoter said concerts and other events were selling out quickly, and at ticket prices that were 10% above pre-pandemic levels. Live Nation gained 2.3% in the premarket.</p>\n<p>In FX, the euro dipped after a European Central Bank policy maker said the central bank&nbsp;won’t rush&nbsp;a decision on stimulus. The Bloomberg Dollar Index held little changed and most Group- of-10 currencies traded in narrow ranges. The pound rose for a second day, with some investors expecting the Bank of England to take a hawkish turn on Thursday; the euro slipped to a session low of 1.1842 before trimming losses. New Zealand’s dollar rose against all its G-10 peers as traders boosted bets for interest- rate hikes after the nation’s jobs data beat economists’ estimates. The kiwi was also bolstered by fund-related purchases against the Australian dollar, traders said. The Australian dollar bounced off a session low after a gauge of China’s services activity topped analysts’ estimates. The safe haven Swiss franc and Japanese yen led losses on concern the spread of the delta variant could derail global growth.</p>\n<p>In rates, treasury yields suddenly slumped to session lows of 1.1555% after trading steady for much of the overnight session as market awaits latest quarterly refunding announcement at 8:30am ET. Price action calm over Asia, early European session has seen yields trade in a narrow range. ISM services and ADP employment data also due Wednesday, which may provide some insight ahead of Friday payrolls. No&nbsp;Treasury&nbsp;supply this week, although quarterly refunding announcement at 8:30am ET will draw focus as officials may provide details about the timing of reducing auction sizes.&nbsp; Euro zone government bond yields hovered near recent lows, with the German 10-year yield at -0.489%, little moved by July euro zone purchasing managers index survey data that came in slightly worse than expected.</p>\n<p>In commodities, Brent futures gave up early gains to last trade 0.2% lower at $72.30 a barrel, while U.S. crude was down 0.4% at $70.26 a barrel. Spot gold was up 0.2% at $1,812.9 an ounce.</p>\n<p>Looking at the day ahead, expected data include ADP employment change for July as well as the ISM services index. Key U.S. jobs data this week could stoke market swings if they lead investors to adjust expectations over the Federal Reserve’s likely timeline for eventually tapering stimulus. Fed Vice Chair Richard Clarida is due to&nbsp;speak&nbsp;about monetary policy Wednesday. “Today’s employment figures could rapidly change the market mood,” said Swissquote analyst Ipek Ozkardeskaya. “A strong read should accelerate the thinking that the Fed will get to the tapering stage quicker than otherwise. That could apply a certain pressure on the U.S. stocks.”&nbsp; Separately the Central Bank of Brazil will release its latest monetary policy decision and then Federal Reserve Vice Chair Clarida speaks. Finally, earnings releases today include CVS Health, Booking Holdings, General Motors, Uber, and Toyota.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163400390","content_text":"(Update: August 4, 2021 at 8:28 a.m. ET)\n(Aug 4) Stock futures arewobblingafter the S&P 500 hit its 42nd record close of the year, as investors weighstrong corporate earningsagainst the potentialthreat of the Delta variantof Covid-19.\nAt 08:28 a.m. ET, Dow E-minis were down 76 points, or 0.22%, S&P 500 E-minis fell 7 points, or 0.16% and Nasdaq 100 E-minis slid 9 points, or 0.06% .\n\nStocks making the biggest moves premarket：\n1) General Motors(GM) – General Motors missed the consensus estimate of $2.23 per share with an adjusted second-quarter profit of $1.97 per share, though revenue did top Wall Street forecasts. GM did raise its forecast for the remainder of the year, based on strong demand and pricing. GM initially fell 3% in the premarket but then bounced back to recover most of that loss.\n2) CVS Health(CVS) – CVS earned an adjusted $2.42 per share for the second quarter, beating the $2.06 consensus estimate, with revenue beating forecasts as well. The drug store and pharmacy benefits company also saw same-store sales rise a better than expected 12.3%. Separately, CVS also announced it was raising its minimum wage for employees to $15 per hour.\n3) Kraft Heinz(KHC) – Kraft Heinz beat estimates by 6 cents with adjusted quarterly earnings of 78 cents per share, while the food producer’s revenue also exceeded estimates. Demand continued to be strong during the quarter for the company’s snacks and packaged meals.\n4) Tupperware(TUP) – Tupperware shares jumped 2.5% in the premarket, after beating on the top and bottom lines for the second quarter. The maker of household storage products earned an adjusted 95 cents per share, well above the 57 cent consensus estimate.\n5) Robinhood(HOOD) – The trading platform’s stock soared 13.1% in premarket trading, on top of a 24.2% gain in Tuesday trading, when it rose above its $38 per share IPO price for the first time since going public last Thursday. It was also among yesterday’s most heavily traded stocks.\n6) Activision Blizzard(ATVI) – Activision Blizzard beat estimates by 15 cents with adjusted quarterly earnings of 91 cents per share and the videogame producer’s revenue was slightly above Wall Street forecasts. It also gave an upbeat forecast, anticipating continued strong demand for popular franchises like “Candy Crush” and “Call of Duty”. Shares rallied 5.6% in premarket trading.\n7) Amgen(AMGN) – Amgen earned an adjusted $4.38 per share for its latest quarter, compared with a consensus estimate of $4.09. The biotech giant’s revenue topped analyst estimates as well, although it said visits and procedures remain below pre-pandemic levels. Amgen also said it is in a dispute with the IRS, fighting a claim that it owes $3.6 billion in back taxes.\n8) Lyft(LYFT) – Lyft reported an adjusted quarterly loss of 5 cents per share, smaller than the 24 cent loss predicted by analysts, with the ride-hailing service coming in with better-than-expected revenue. Lyft saw strong ride-hailing demand and did reach profitability as measured by earnings before interest, taxes, depreciation and amortization (EBITDA).\n9) Match Group(MTCH) – Match Group fell 6 cents shy of estimates with quarterly earnings of 46 cents per share, although the operator of Tinder and other dating services did see revenue exceed forecasts. Revenue growth for Tinder is accelerating as vaccination rates rise, but Match said recovery is lagging in some important overseas markets. Shares fell 4% in premarket trading.\n10) Caesars Entertainment(CZR) – Caesars earned 34 cents per share for its latest quarter, surprising analysts who had expected a loss of 18 cents per share. The casino operator’s revenue exceeded estimates as well, thanks to a strong rebound in the Las Vegas market. Caesars added 2% in premarket action.\n11) Affirm Holdings(AFRM) – Affirm added another 2.4% in the premarket, after jumping 3% yesterday. The payment service’s shares are getting a boost from a Bloomberg report that it will partner withApple(AAPL) to offer “buy now, pay later” services for Canadian purchases of Apple devices.\n12) Avis Budget(CAR) – Avis Budget rose 1.9% in premarket trading after reporting what it called the best quarter in its history, with surging demand and higher rental prices leading to a tripling in sales. Adjusted earnings per share came to $5.90, compared to a consensus estimate of $1.21.\n13) Live Nation(LYV) – Live Nation said sales for its latest quarter surged nearly eight-fold, as live events returned amid an increase in vaccinations. The live event promoter said concerts and other events were selling out quickly, and at ticket prices that were 10% above pre-pandemic levels. Live Nation gained 2.3% in the premarket.\nIn FX, the euro dipped after a European Central Bank policy maker said the central bank won’t rush a decision on stimulus. The Bloomberg Dollar Index held little changed and most Group- of-10 currencies traded in narrow ranges. The pound rose for a second day, with some investors expecting the Bank of England to take a hawkish turn on Thursday; the euro slipped to a session low of 1.1842 before trimming losses. New Zealand’s dollar rose against all its G-10 peers as traders boosted bets for interest- rate hikes after the nation’s jobs data beat economists’ estimates. The kiwi was also bolstered by fund-related purchases against the Australian dollar, traders said. The Australian dollar bounced off a session low after a gauge of China’s services activity topped analysts’ estimates. The safe haven Swiss franc and Japanese yen led losses on concern the spread of the delta variant could derail global growth.\nIn rates, treasury yields suddenly slumped to session lows of 1.1555% after trading steady for much of the overnight session as market awaits latest quarterly refunding announcement at 8:30am ET. Price action calm over Asia, early European session has seen yields trade in a narrow range. ISM services and ADP employment data also due Wednesday, which may provide some insight ahead of Friday payrolls. No Treasury supply this week, although quarterly refunding announcement at 8:30am ET will draw focus as officials may provide details about the timing of reducing auction sizes.  Euro zone government bond yields hovered near recent lows, with the German 10-year yield at -0.489%, little moved by July euro zone purchasing managers index survey data that came in slightly worse than expected.\nIn commodities, Brent futures gave up early gains to last trade 0.2% lower at $72.30 a barrel, while U.S. crude was down 0.4% at $70.26 a barrel. Spot gold was up 0.2% at $1,812.9 an ounce.\nLooking at the day ahead, expected data include ADP employment change for July as well as the ISM services index. Key U.S. jobs data this week could stoke market swings if they lead investors to adjust expectations over the Federal Reserve’s likely timeline for eventually tapering stimulus. Fed Vice Chair Richard Clarida is due to speak about monetary policy Wednesday. “Today’s employment figures could rapidly change the market mood,” said Swissquote analyst Ipek Ozkardeskaya. “A strong read should accelerate the thinking that the Fed will get to the tapering stage quicker than otherwise. That could apply a certain pressure on the U.S. stocks.”  Separately the Central Bank of Brazil will release its latest monetary policy decision and then Federal Reserve Vice Chair Clarida speaks. Finally, earnings releases today include CVS Health, Booking Holdings, General Motors, Uber, and Toyota.","news_type":1},"isVote":1,"tweetType":1,"viewCount":364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807314782,"gmtCreate":1628000369246,"gmtModify":1703499440249,"author":{"id":"3585991559240251","authorId":"3585991559240251","name":"ganweisheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585991559240251","authorIdStr":"3585991559240251"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/807314782","repostId":"1148147660","repostType":4,"repost":{"id":"1148147660","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":1627999192,"share":"https://ttm.financial/m/news/1148147660?lang=&edition=fundamental","pubTime":"2021-08-03 21:59","market":"us","language":"en","title":"Most of Chinese stocks were down in morning trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1148147660","media":"Tiger Newspress","summary":"(Aug&nbsp;3)&nbsp;Most of Chinese stocks were down in morning trading.","content":"<p>(Aug&nbsp;3)&nbsp;Most of Chinese stocks were down in morning trading.</p>\n<p><img src=\"https://static.tigerbbs.com/74bb304d0b14c1b9c4528cfe12a67cb4\" tg-width=\"382\" tg-height=\"846\" width=\"100%\" height=\"auto\"></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>Most of Chinese stocks were down in morning trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ 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hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMost of Chinese stocks were down in morning trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-08-03 21:59</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Aug&nbsp;3)&nbsp;Most of Chinese stocks were down in morning trading.</p>\n<p><img src=\"https://static.tigerbbs.com/74bb304d0b14c1b9c4528cfe12a67cb4\" tg-width=\"382\" tg-height=\"846\" width=\"100%\" height=\"auto\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148147660","content_text":"(Aug 3) Most of Chinese stocks were down in morning trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":562,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891750231,"gmtCreate":1628433571623,"gmtModify":1703506194862,"author":{"id":"3585991559240251","authorId":"3585991559240251","name":"ganweisheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585991559240251","authorIdStr":"3585991559240251"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/891750231","repostId":"2157941336","repostType":2,"repost":{"id":"2157941336","kind":"news","pubTimestamp":1628427660,"share":"https://ttm.financial/m/news/2157941336?lang=&edition=fundamental","pubTime":"2021-08-08 21:01","market":"us","language":"zh","title":"亚马逊无人机送货要凉了？一个月换 3 经理，100 多人被裁员","url":"https://stock-news.laohu8.com/highlight/detail?id=2157941336","media":"智东西","summary":"目前该项目的部分业务已被关闭，100 多个工作岗位遭到裁撤。亚马逊在 2013 年的时候首次向世界展示其无人机送货的愿景，并于 2016 年在英国剑桥设立了 Prime Air 的研发基地。","content":"<html><body><article><img src=\"https://fid-75186.picgzc.qpic.cn/20210808210955086d154euz6oznhc6z\"/><p>据美国媒体 WIRED 报道，<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>已大幅削减其在英国的无人机交付项目 Prime Air。目前该项目的部分业务已被关闭，100 多个工作岗位遭到裁撤。</p><p>亚马逊在 2013 年的时候首次向世界展示其无人机送货的愿景，并于 2016 年在英国剑桥设立了 Prime Air 的研发基地。不过，到现在其无人机送货队伍仍未真正落地。</p><p>最近，该项目曾经的工作人员向 WIRED 讲述了这个项目背后的混乱。他们称该项目曾经在一个月内换了 3 个经理，并且后期来的领导全是不懂技术的行外人，往往朝令夕改，对项目提供不了任何帮助。此外，员工也会消极怠工，甚至有人在工作时间坐在工位上大喝啤酒。</p><p>一、亚马逊无人机送货项目大裁员，100 多人失业</p><p>随着亚马逊关闭其在英国的部分业务，亚马逊 Prime Air 的 100 多名员工已经失业，数十名其他职位的员工正在转移到英国以外的其他项目。内部人士称，这个于 2016 年启动的项目能否继续下去还无法确定。</p><p>一些曾经在该项目工作过的人士告诉 WIRED，称近年来 Prime Air 内部的问题越来越多，比如被新任命的经理对项目知之甚少，甚至无法回答基本的工作问题，有员工在办公桌前大喝啤酒，还一些员工被迫在哥斯达黎加培训他们的接替者。</p><p>对此亚马逊向 WIRED 表示仍有一些员工在英国为 Prime Air 工作，但是没有说明具体有多少员工。</p><p>五年前，Prime Air 在英国的业务被疯狂推广，亚马逊高管声称将在几年内实现无人机投递包裹。他们在剑桥开设了一个巨大的新办公室，还让当地学校参观其秘密的无人机实验室。另外他们还发布了一系列无人机飞行宣传视频，获得了数百万次的点击量。</p><p>英国监管机构也加快了无人机测试审批的进程，使得英国成为了无人机飞行的理想测试地点，为亚马逊进一步获得其他国家监管部门的批准铺平了道路。</p><p>▲亚马逊的 Prime Air 送货无人机</p><img src=\"https://fid-75186.picgzc.qpic.cn/20210808211000321d154mol9x7rfqbp\"/><p>但是在随后的几年里，巡回的演出推广停止了，宣传视频也从 YouTube 上默默下架，该公司广泛的宣传活动消失了。除了 Jeff Wilke 等亚马逊高管偶尔谈道 \" 交付无人机将在几个月内成为现实 \" 之外，这一项目几乎没有了任何消息。</p><p>与此同时，在争夺美国监管部门批准的竞争中，亚马逊被美国<a href=\"https://laohu8.com/S/UPS\">联合包裹</a>（UPS）和<a href=\"https://laohu8.com/S/GOOG\">谷歌</a>母公司 Alphabet 旗下的 Wing 抢在了前面。</p><p>现在，Prime Air 在英国首次试飞 5 年后，该项目的整个英国数据分析团队都被裁员了。</p><p>亚马逊发言人称，裁员后仍将在 Prime Air 还会在英国开展工作，并且将继续扩大 Prime Air 在英国的影响力，但没有透露将开展什么类型的工作。他还以安全问题为由，拒绝回答曾经充满宣传视频的试飞是否仍在英国进行。</p><p>该发言人补充道，他们已经为一些受到影响的员工在其业务的其他部门找到了新岗位，不过同样未透露有多少人得到了新工作。</p><p>二、项目内部频繁换帅，一个月换了 3 个经理</p><p>该项目的内部人士称，由于员工和管理人员的不断改组，Prime Air 项目于 2019 年底出现裂痕。</p><p>Prime Air 曾经通过临时工中介进行频繁的招聘壮大了其数据分析团队，这一团队的工作是其在剑桥的业务中很重要的一部分。该团队主要任务是手动浏览试飞镜头并识别相关威胁或物体，以此来通过机器学习训练亚马逊无人机。</p><p>当时这一团队分为三个小组，分别处理不同的可能对无人机产生威胁的影响，包括人类和动物、天空中的其他人造物体以及 3D 映射。这有助于无人机分辨天空、草坪或者游泳池。</p><p>据该部门的前员工所说，在 2019 年的最后几个月，从底层员工到经理几乎都在不断地流失。因为团队的员工和高级成员被改组或从项目中撤出，该项目在一个月内甚至出现了 3 个不同的经理。</p><p>越来越多的高级管理人员开始退出，比如 Tom Denlegh-Maxwell，他从项目启动时就参与了该项目，直到 2019 年 12 月份离开了这个项目。</p><p>一位前员工说：\" 有段时间我们的团队一次性来了四五个新经理，他们通常在加入 Prime Air 不到一年的时间内就很快离开了。\" 另外一个人将这种情况称作 \" 船沉鼠窜（rats off a sinking ship）\"。</p><p>他们还说道，许多新任命的人都是亚马逊的终身经理，他们以前专门从事物流或仓库运营，对于该项目正在完成中的工作的技术细节知之甚少。\" 我们永远无法向经理寻求任何关于项目中的技术细节的帮助，因为他们根本不知道如何帮助我们。\" 一位前员工说。</p><p>三、工程师既要挑战技术难题，又要应对领导朝令夕改</p><p>在项目频繁换帅的同时，Prime Air 的工程师一边要努力地解决技术上的问题，一边又要应对一系列非技术性的问题。</p><p>其他无人机公司的目标是使用降落伞从几米或更高的地方投下包裹，而亚马逊的工程师想要让无人机降落在人们家门外，在几乎与地面平齐的地方放下包裹。实现这一目标是一个巨大的工程，对于机器学习来说也是一项挑战。</p><p>\" 让无人机在人们家门口着陆所需的系统重量很大，这让亚马逊的无人机重量达到了 27 公斤左右，超过了管理机构对于小型无人机所设定的标准，这也意味着多了许多额外的规定。比如管理机构为了避免人们受到碰撞，对超过小型无人机标准的飞行器设定了更高的安全标准。\" 无人机公司 Matternet 的首席执行官 Andreas Raptopoulos 说。</p><p><a href=\"https://laohu8.com/S/BRS\">布里斯托</a>尔<a href=\"https://laohu8.com/S/300024\">机器人</a>实验室（Bristol robotics Lab）空中机器人技术负责人 Arthur Richards 教授说：\" 最难的部分是离地面的最后两米，机器学习的能力令人吃惊。但是他们犯的错误也同样令人吃惊。\"</p><p>内部人士称该项目的标准经常会在未作出任何解释的情况下被要求更改，比如他们会被告知要避免无人机通过镜头识别到站在窗户后面的人，但是过一段时间后又被要求做相反的事。</p><p>另一位消息人士说，他们与亚马逊总部的唯一联系是一位美国高管。他每隔几个月就会来看望这个团队，给他们买披萨饼，然后要求他们把工作量增加一倍。并且这位高管不会做出任何解释，也不会回答任何问题。</p><p>该消息人士说道：\" 这就好比在地球的另一端有一个家伙告诉你该做什么，然后就拍拍屁股走人了。当你在一个人与人之间交流特别少的组织内时，我不知道你还能指望什么把事情做好。\"</p><p>四、员工面临被裁风险，上班时间大喝啤酒</p><p>去年 2 月份 Prime Air 在英国的人类和动物数据分析团队被整个裁撤掉，该团队雇佣的数十个人被重新分配到其他团队。然而仅过去三个月后，这个团队又重新被建立起来，并且重新分配了人员。</p><p>\" 这是很不正常的，其中肯定出现了很多混乱，公司在没有做长期规划的情况下做出了很多决策。\" 一位前员工说。另一位前员工也说感觉项目一直处于 \" 有组织的混乱 \" 状态。</p><p>差不多也是在这个时候，亚马逊开始重组并使很多人失去了工作。公司的管理者们在数据分析师的站立式会议上承认，对于非长期合同的人来说，公司曾对他们做出的永久就业的承诺将很难被兑现。这让 Prime Air 团队已经受到打击的士气再次被打击。</p><p>\" 一切都开始向内崩溃，亚马逊往这里堆积了太多东西。他们让对项目一无所知的人来负责这些事情，并且过度的向外推销，以至于太多的承诺无法兑现。\" 其前员工说。</p><p>\" 那是一个星期一，大约是中午十一二点，一个家伙从冰箱里拿了一罐啤酒在工位上自顾自的喝了起来。另一位员工在他们的电脑上按下全部通过的按钮，让本应该仔细审核的无人机试飞镜头全部得到了通过，而不管里面是否包含了危险因素。\" 该项目的前员工这样描述当时的场景。</p><p>在 2020 年到 2021 年这两年间，英国 Prime Air 的员工要么因短期合同到期而离职，要么被裁员。工作人员还说，他们被告知要去哥斯达黎加培训他们自己的接班人。</p><p>目前，亚马逊未确认英国 Prime Air 团队是否会进一步裁员，也未确认 Prime Air 在全球其他地方的项目是否会外包出去。</p><p>五、项目长期中断，内部人士怀疑无人机送货无法实现</p><p>该项目经过长时间的中断，一些内部人士开始怀疑亚马逊能否实现其无人机送货的梦想。\" 我进入那里时，Prime Air 已经出现好几年了，然而在我看来它永远不会离开地面。\" 该项目的前员工说。</p><p>亚马逊去年在美国获得了监管许可，将允许其在美国进行新的试飞，这一消息被大肆宣传，也引来了外界对即将到来的无人机送货的猜测。然而，亚马逊在 2016 年就在英国获得了同样的许可，却直到现在都没有一支可以使用的无人机送货队伍。</p><p>对于这个问题，亚马逊没有说明在美国的试飞和在英国的试飞有何不同。</p><p>Andreas Raptopoulos 说，在几个月或几年内面向大众市场兑现电子商务无人机交付的承诺不现实。他说：\" 我们能否见到下一代大规模电子商务交付方式？我想在 2027 年或 2028 年左右可以见到。但是当有人说‘五年左右’时，你要注意，他的意思往往是‘我不确定，但不是现在’。\"</p><p>结语：8 年过去，亚马逊无人机送货仍未实现</p><p>亚马逊的无人机送货计划从提出到现在已经过去了 8 年的时间，却迟迟无法真正落地。现在它内部的问题被曝光，让人看了唏嘘不已，难道亚马逊的无人机送货只能是画的一张大饼无法实现了吗？</p><p>显然，亚马逊并不打算放弃这一构想，其发言人称将继续在英国开展业务，努力实现利用无人机在 30 分钟内将货物送到客户手中的目标。</p><p>最近有媒体报道，美团无人机配送即将在深圳开展试点，用户最快 10 分钟就能拿到商品。另外，在这次河南暴雨灾害中，<a href=\"https://laohu8.com/S/02618\">京东物流</a>无人机也参与到了物资运输工作中。</p><p>除此之外，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>、顺丰等电商、物流公司也都在积极的探索无人机送货业务。与亚马逊的无人机送货相比，国内科技公司显然已经走到了前列。</p><p>来源：智东西</p></article></body></html>","source":"tencent","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>亚马逊无人机送货要凉了？一个月换 3 经理，100 多人被裁员</title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n亚马逊无人机送货要凉了？一个月换 3 经理，100 多人被裁员\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-08 21:01 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021080821100379de3c1a&s=b><strong>智东西</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>据美国媒体 WIRED 报道，亚马逊已大幅削减其在英国的无人机交付项目 Prime Air。目前该项目的部分业务已被关闭，100 多个工作岗位遭到裁撤。亚马逊在 2013 年的时候首次向世界展示其无人机送货的愿景，并于 2016 年在英国剑桥设立了 Prime Air 的研发基地。不过，到现在其无人机送货队伍仍未真正落地。最近，该项目曾经的工作人员向 WIRED 讲述了这个项目背后的混乱。他们称该...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021080821100379de3c1a&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e5270e4236fee051a23343694c988024","relate_stocks":{"AMZN":"亚马逊"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021080821100379de3c1a&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2157941336","content_text":"据美国媒体 WIRED 报道，亚马逊已大幅削减其在英国的无人机交付项目 Prime Air。目前该项目的部分业务已被关闭，100 多个工作岗位遭到裁撤。亚马逊在 2013 年的时候首次向世界展示其无人机送货的愿景，并于 2016 年在英国剑桥设立了 Prime Air 的研发基地。不过，到现在其无人机送货队伍仍未真正落地。最近，该项目曾经的工作人员向 WIRED 讲述了这个项目背后的混乱。他们称该项目曾经在一个月内换了 3 个经理，并且后期来的领导全是不懂技术的行外人，往往朝令夕改，对项目提供不了任何帮助。此外，员工也会消极怠工，甚至有人在工作时间坐在工位上大喝啤酒。一、亚马逊无人机送货项目大裁员，100 多人失业随着亚马逊关闭其在英国的部分业务，亚马逊 Prime Air 的 100 多名员工已经失业，数十名其他职位的员工正在转移到英国以外的其他项目。内部人士称，这个于 2016 年启动的项目能否继续下去还无法确定。一些曾经在该项目工作过的人士告诉 WIRED，称近年来 Prime Air 内部的问题越来越多，比如被新任命的经理对项目知之甚少，甚至无法回答基本的工作问题，有员工在办公桌前大喝啤酒，还一些员工被迫在哥斯达黎加培训他们的接替者。对此亚马逊向 WIRED 表示仍有一些员工在英国为 Prime Air 工作，但是没有说明具体有多少员工。五年前，Prime Air 在英国的业务被疯狂推广，亚马逊高管声称将在几年内实现无人机投递包裹。他们在剑桥开设了一个巨大的新办公室，还让当地学校参观其秘密的无人机实验室。另外他们还发布了一系列无人机飞行宣传视频，获得了数百万次的点击量。英国监管机构也加快了无人机测试审批的进程，使得英国成为了无人机飞行的理想测试地点，为亚马逊进一步获得其他国家监管部门的批准铺平了道路。▲亚马逊的 Prime Air 送货无人机但是在随后的几年里，巡回的演出推广停止了，宣传视频也从 YouTube 上默默下架，该公司广泛的宣传活动消失了。除了 Jeff Wilke 等亚马逊高管偶尔谈道 \" 交付无人机将在几个月内成为现实 \" 之外，这一项目几乎没有了任何消息。与此同时，在争夺美国监管部门批准的竞争中，亚马逊被美国联合包裹（UPS）和谷歌母公司 Alphabet 旗下的 Wing 抢在了前面。现在，Prime Air 在英国首次试飞 5 年后，该项目的整个英国数据分析团队都被裁员了。亚马逊发言人称，裁员后仍将在 Prime Air 还会在英国开展工作，并且将继续扩大 Prime Air 在英国的影响力，但没有透露将开展什么类型的工作。他还以安全问题为由，拒绝回答曾经充满宣传视频的试飞是否仍在英国进行。该发言人补充道，他们已经为一些受到影响的员工在其业务的其他部门找到了新岗位，不过同样未透露有多少人得到了新工作。二、项目内部频繁换帅，一个月换了 3 个经理该项目的内部人士称，由于员工和管理人员的不断改组，Prime Air 项目于 2019 年底出现裂痕。Prime Air 曾经通过临时工中介进行频繁的招聘壮大了其数据分析团队，这一团队的工作是其在剑桥的业务中很重要的一部分。该团队主要任务是手动浏览试飞镜头并识别相关威胁或物体，以此来通过机器学习训练亚马逊无人机。当时这一团队分为三个小组，分别处理不同的可能对无人机产生威胁的影响，包括人类和动物、天空中的其他人造物体以及 3D 映射。这有助于无人机分辨天空、草坪或者游泳池。据该部门的前员工所说，在 2019 年的最后几个月，从底层员工到经理几乎都在不断地流失。因为团队的员工和高级成员被改组或从项目中撤出，该项目在一个月内甚至出现了 3 个不同的经理。越来越多的高级管理人员开始退出，比如 Tom Denlegh-Maxwell，他从项目启动时就参与了该项目，直到 2019 年 12 月份离开了这个项目。一位前员工说：\" 有段时间我们的团队一次性来了四五个新经理，他们通常在加入 Prime Air 不到一年的时间内就很快离开了。\" 另外一个人将这种情况称作 \" 船沉鼠窜（rats off a sinking ship）\"。他们还说道，许多新任命的人都是亚马逊的终身经理，他们以前专门从事物流或仓库运营，对于该项目正在完成中的工作的技术细节知之甚少。\" 我们永远无法向经理寻求任何关于项目中的技术细节的帮助，因为他们根本不知道如何帮助我们。\" 一位前员工说。三、工程师既要挑战技术难题，又要应对领导朝令夕改在项目频繁换帅的同时，Prime Air 的工程师一边要努力地解决技术上的问题，一边又要应对一系列非技术性的问题。其他无人机公司的目标是使用降落伞从几米或更高的地方投下包裹，而亚马逊的工程师想要让无人机降落在人们家门外，在几乎与地面平齐的地方放下包裹。实现这一目标是一个巨大的工程，对于机器学习来说也是一项挑战。\" 让无人机在人们家门口着陆所需的系统重量很大，这让亚马逊的无人机重量达到了 27 公斤左右，超过了管理机构对于小型无人机所设定的标准，这也意味着多了许多额外的规定。比如管理机构为了避免人们受到碰撞，对超过小型无人机标准的飞行器设定了更高的安全标准。\" 无人机公司 Matternet 的首席执行官 Andreas Raptopoulos 说。布里斯托尔机器人实验室（Bristol robotics Lab）空中机器人技术负责人 Arthur Richards 教授说：\" 最难的部分是离地面的最后两米，机器学习的能力令人吃惊。但是他们犯的错误也同样令人吃惊。\"内部人士称该项目的标准经常会在未作出任何解释的情况下被要求更改，比如他们会被告知要避免无人机通过镜头识别到站在窗户后面的人，但是过一段时间后又被要求做相反的事。另一位消息人士说，他们与亚马逊总部的唯一联系是一位美国高管。他每隔几个月就会来看望这个团队，给他们买披萨饼，然后要求他们把工作量增加一倍。并且这位高管不会做出任何解释，也不会回答任何问题。该消息人士说道：\" 这就好比在地球的另一端有一个家伙告诉你该做什么，然后就拍拍屁股走人了。当你在一个人与人之间交流特别少的组织内时，我不知道你还能指望什么把事情做好。\"四、员工面临被裁风险，上班时间大喝啤酒去年 2 月份 Prime Air 在英国的人类和动物数据分析团队被整个裁撤掉，该团队雇佣的数十个人被重新分配到其他团队。然而仅过去三个月后，这个团队又重新被建立起来，并且重新分配了人员。\" 这是很不正常的，其中肯定出现了很多混乱，公司在没有做长期规划的情况下做出了很多决策。\" 一位前员工说。另一位前员工也说感觉项目一直处于 \" 有组织的混乱 \" 状态。差不多也是在这个时候，亚马逊开始重组并使很多人失去了工作。公司的管理者们在数据分析师的站立式会议上承认，对于非长期合同的人来说，公司曾对他们做出的永久就业的承诺将很难被兑现。这让 Prime Air 团队已经受到打击的士气再次被打击。\" 一切都开始向内崩溃，亚马逊往这里堆积了太多东西。他们让对项目一无所知的人来负责这些事情，并且过度的向外推销，以至于太多的承诺无法兑现。\" 其前员工说。\" 那是一个星期一，大约是中午十一二点，一个家伙从冰箱里拿了一罐啤酒在工位上自顾自的喝了起来。另一位员工在他们的电脑上按下全部通过的按钮，让本应该仔细审核的无人机试飞镜头全部得到了通过，而不管里面是否包含了危险因素。\" 该项目的前员工这样描述当时的场景。在 2020 年到 2021 年这两年间，英国 Prime Air 的员工要么因短期合同到期而离职，要么被裁员。工作人员还说，他们被告知要去哥斯达黎加培训他们自己的接班人。目前，亚马逊未确认英国 Prime Air 团队是否会进一步裁员，也未确认 Prime Air 在全球其他地方的项目是否会外包出去。五、项目长期中断，内部人士怀疑无人机送货无法实现该项目经过长时间的中断，一些内部人士开始怀疑亚马逊能否实现其无人机送货的梦想。\" 我进入那里时，Prime Air 已经出现好几年了，然而在我看来它永远不会离开地面。\" 该项目的前员工说。亚马逊去年在美国获得了监管许可，将允许其在美国进行新的试飞，这一消息被大肆宣传，也引来了外界对即将到来的无人机送货的猜测。然而，亚马逊在 2016 年就在英国获得了同样的许可，却直到现在都没有一支可以使用的无人机送货队伍。对于这个问题，亚马逊没有说明在美国的试飞和在英国的试飞有何不同。Andreas Raptopoulos 说，在几个月或几年内面向大众市场兑现电子商务无人机交付的承诺不现实。他说：\" 我们能否见到下一代大规模电子商务交付方式？我想在 2027 年或 2028 年左右可以见到。但是当有人说‘五年左右’时，你要注意，他的意思往往是‘我不确定，但不是现在’。\"结语：8 年过去，亚马逊无人机送货仍未实现亚马逊的无人机送货计划从提出到现在已经过去了 8 年的时间，却迟迟无法真正落地。现在它内部的问题被曝光，让人看了唏嘘不已，难道亚马逊的无人机送货只能是画的一张大饼无法实现了吗？显然，亚马逊并不打算放弃这一构想，其发言人称将继续在英国开展业务，努力实现利用无人机在 30 分钟内将货物送到客户手中的目标。最近有媒体报道，美团无人机配送即将在深圳开展试点，用户最快 10 分钟就能拿到商品。另外，在这次河南暴雨灾害中，京东物流无人机也参与到了物资运输工作中。除此之外，阿里巴巴、顺丰等电商、物流公司也都在积极的探索无人机送货业务。与亚马逊的无人机送货相比，国内科技公司显然已经走到了前列。来源：智东西","news_type":1},"isVote":1,"tweetType":1,"viewCount":302,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890689174,"gmtCreate":1628113331498,"gmtModify":1703501289371,"author":{"id":"3585991559240251","authorId":"3585991559240251","name":"ganweisheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585991559240251","authorIdStr":"3585991559240251"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/890689174","repostId":"1187165636","repostType":4,"isVote":1,"tweetType":1,"viewCount":649,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807826354,"gmtCreate":1628030968878,"gmtModify":1703499754483,"author":{"id":"3585991559240251","authorId":"3585991559240251","name":"ganweisheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585991559240251","authorIdStr":"3585991559240251"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/807826354","repostId":"2156473129","repostType":4,"repost":{"id":"2156473129","kind":"highlight","pubTimestamp":1628001180,"share":"https://ttm.financial/m/news/2156473129?lang=&edition=fundamental","pubTime":"2021-08-03 22:33","market":"us","language":"en","title":"Robinhood: Why You Need to Understand Payment for Order Flow","url":"https://stock-news.laohu8.com/highlight/detail?id=2156473129","media":"Motley Fool","summary":"It's a small piece of financial jargon that poses a potentially existential risk to Robinhood's business.","content":"<p>If you're a curious observer of <b>Robinhood Markets</b>' (NASDAQ:HOOD) recent initial public offering, you've likely heard the term \"payment for order flow.\" Market pundits continue to debate whether it benefits or harms retail investors.</p>\n<p>Traditional stockbroking models have gone out the window. Brokers used to charge a fee to execute a trade for a client -- nominal in many cases, but higher if there was some advice attached. Now, investors can buy and sell stocks completely free of charge through their smartphones, thanks to a consumer revolution led by Robinhood -- and its reliance on a different revenue source.</p>\n<p>Payment for order flow involves Robinhood selling its customer's market orders to third parties, who execute them and earn fees for doing so, with a portion given to Robinhood as payment for routing the customer's order to that particular third party.</p>\n<p>Put really simply, instead of the customer paying a direct commission, the customer has effectively become the product.</p>\n<p><img src=\"https://static.tigerbbs.com/47a6ac9c1c06da81193b76e20952166c\" tg-width=\"700\" tg-height=\"469\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>How it works</h3>\n<p>Most people with an understanding of the stock market know that when someone purchases shares, there needs to be a willing seller. The two parties use a broker to meet digitally at a stock exchange (like the New York Stock Exchange or the Nasdaq Stock Market), where their transaction is facilitated.</p>\n<p>But times have changed. The chairman of America's market regulator, the Securities and Exchange Commission (SEC), recently noted that only 53% of all customer orders actually go through an exchange. About 38% are handled by wholesalers instead, more formally known as market makers.</p>\n<p>That's where payment for order flow takes center stage.</p>\n<p>Market makers stand ready to buy and sell shares each trading day. They make money by setting the bid-ask spread. Let's say a market maker is willing to buy a share of <b>Apple</b> for $145.50, and it's willing to sell a share for $145.60. The difference of $0.10 (the spread) is its profit.</p>\n<p>When a Robinhood customer places a market order to buy or sell shares of Apple, rather being matched with a seller in the market, they are instead routed to a market maker, because it can be relied on to absorb the transaction in the blink of an eye.</p>\n<p>Market makers can compete with each other for this order flow by lowering spreads -- for example, <a href=\"https://laohu8.com/S/AONE.U\">one</a> might charge a spread of $0.07 instead of $0.10, so the broker would route the order to that firm to get its customer a better price.</p>\n<p>Alternatively, and controversially, market makers can simply pay Robinhood to route its customers' orders to them, partly removing the need to compete. It has drummed up concerns among regulators that retail investors are getting a raw deal when it comes to the pricing and execution of their orders.</p>\n<p>In December 2020, Robinhood paid a $65 million settlement to the SEC after the regulator discovered the practice had deprived customers of $34.1 million, caused by inferior order pricing -- and that's <i>after </i>accounting for customers paying zero commissions.</p>\n<h3>Follow the money</h3>\n<p>Most market making firms are private enterprises, but the publicly traded <b>Virtu Financial</b>&nbsp;offers some insight into just how profitable payment for order flow might be. Although Virtu is not specifically listed as one of the market makers Robinhood routes orders to, it is listed on the New York Stock Exchange website among one of three designated market makers (DMMs).</p>\n<table>\n <thead>\n  <tr>\n   <th><p>Metric</p></th>\n   <th><p>Q1 2021</p></th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td><p>Brokerage, exchange, clearance fees and payments for order flow, net</p></td>\n   <td><p>$259 million</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue</p></td>\n   <td><p>$1.01 billion</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Data source: Virtu Financial.</p>\n<p>Virtu lumps the expense in with other related costs, but the $259 million it spent in that category (in a single quarter) made up almost half of its entire operating expenses. Plus, it's growing -- it spent 49% more on this line item in Q1 2021 than it did in the same quarter last year.</p>\n<p>For the full year 2020, Virtu spent $758 million on the brokerage, exchange, clearance fees and payments for order flow expense -- a number it seems sure to top in 2021 given Q1 numbers.</p>\n<h3>Investor takeaway</h3>\n<p>Payment for order flow is practically the beginning and end of Robinhood's business, at least financially. In 2020, at least 75% of the company's $958 million in revenue was generated from the controversial practice. In the first quarter of 2021, it jumped to 81% of total revenue.</p>\n<p>Suffice to say, concentrating so much of the business on an activity regulators are so intensely scrutinizing presents an unparalleled risk to shareholders. Among the SEC's concerns is that retail investors are perceiving their experience as free, when in fact they're being charged fees they can't see in the form of paying a worse price for the shares they're buying.</p>\n<p>To make matters worse, the SEC has outlined concerns about \"gamified\" investment platforms that encourage clients to trade by using appealing visual graphics. These features in part have fueled investor appetite for \"meme stocks\" like <b>GameStop</b>&nbsp;and <b>AMC Entertainment</b>, and the SEC says they contribute to worse outcomes for clients. The surge in both of these stocks (based on no real fundamental reason) was synonymous with the Robinhood platform.</p>\n<p>Robinhood can be praised for bringing a wave of new, younger investors into the financial markets, and that's a long-term positive. But its main source of revenue isn't a legal practice in places like the United Kingdom, and the European Union has issued a warning to brokers, saying that accepting payments for order flow is not compatible with rules that put client needs first.</p>\n<p>Investors considering a long-term position in Robinhood might want to weigh up the risks against the company's growth prospects, since for now it looks like they are confined to the U.S. -- and even that's not a guarantee.</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>Robinhood: Why You Need to Understand Payment for Order Flow</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\">\nRobinhood: Why You Need to Understand Payment for Order Flow\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-03 22:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/08/03/robinhood-understand-payment-for-order-flow/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you're a curious observer of Robinhood Markets' (NASDAQ:HOOD) recent initial public offering, you've likely heard the term \"payment for order flow.\" Market pundits continue to debate whether it ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/03/robinhood-understand-payment-for-order-flow/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HOOD":"Robinhood"},"source_url":"https://www.fool.com/investing/2021/08/03/robinhood-understand-payment-for-order-flow/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2156473129","content_text":"If you're a curious observer of Robinhood Markets' (NASDAQ:HOOD) recent initial public offering, you've likely heard the term \"payment for order flow.\" Market pundits continue to debate whether it benefits or harms retail investors.\nTraditional stockbroking models have gone out the window. Brokers used to charge a fee to execute a trade for a client -- nominal in many cases, but higher if there was some advice attached. Now, investors can buy and sell stocks completely free of charge through their smartphones, thanks to a consumer revolution led by Robinhood -- and its reliance on a different revenue source.\nPayment for order flow involves Robinhood selling its customer's market orders to third parties, who execute them and earn fees for doing so, with a portion given to Robinhood as payment for routing the customer's order to that particular third party.\nPut really simply, instead of the customer paying a direct commission, the customer has effectively become the product.\n\nImage source: Getty Images.\nHow it works\nMost people with an understanding of the stock market know that when someone purchases shares, there needs to be a willing seller. The two parties use a broker to meet digitally at a stock exchange (like the New York Stock Exchange or the Nasdaq Stock Market), where their transaction is facilitated.\nBut times have changed. The chairman of America's market regulator, the Securities and Exchange Commission (SEC), recently noted that only 53% of all customer orders actually go through an exchange. About 38% are handled by wholesalers instead, more formally known as market makers.\nThat's where payment for order flow takes center stage.\nMarket makers stand ready to buy and sell shares each trading day. They make money by setting the bid-ask spread. Let's say a market maker is willing to buy a share of Apple for $145.50, and it's willing to sell a share for $145.60. The difference of $0.10 (the spread) is its profit.\nWhen a Robinhood customer places a market order to buy or sell shares of Apple, rather being matched with a seller in the market, they are instead routed to a market maker, because it can be relied on to absorb the transaction in the blink of an eye.\nMarket makers can compete with each other for this order flow by lowering spreads -- for example, one might charge a spread of $0.07 instead of $0.10, so the broker would route the order to that firm to get its customer a better price.\nAlternatively, and controversially, market makers can simply pay Robinhood to route its customers' orders to them, partly removing the need to compete. It has drummed up concerns among regulators that retail investors are getting a raw deal when it comes to the pricing and execution of their orders.\nIn December 2020, Robinhood paid a $65 million settlement to the SEC after the regulator discovered the practice had deprived customers of $34.1 million, caused by inferior order pricing -- and that's after accounting for customers paying zero commissions.\nFollow the money\nMost market making firms are private enterprises, but the publicly traded Virtu Financial offers some insight into just how profitable payment for order flow might be. Although Virtu is not specifically listed as one of the market makers Robinhood routes orders to, it is listed on the New York Stock Exchange website among one of three designated market makers (DMMs).\n\n\n\nMetric\nQ1 2021\n\n\n\n\nBrokerage, exchange, clearance fees and payments for order flow, net\n$259 million\n\n\nRevenue\n$1.01 billion\n\n\n\nData source: Virtu Financial.\nVirtu lumps the expense in with other related costs, but the $259 million it spent in that category (in a single quarter) made up almost half of its entire operating expenses. Plus, it's growing -- it spent 49% more on this line item in Q1 2021 than it did in the same quarter last year.\nFor the full year 2020, Virtu spent $758 million on the brokerage, exchange, clearance fees and payments for order flow expense -- a number it seems sure to top in 2021 given Q1 numbers.\nInvestor takeaway\nPayment for order flow is practically the beginning and end of Robinhood's business, at least financially. In 2020, at least 75% of the company's $958 million in revenue was generated from the controversial practice. In the first quarter of 2021, it jumped to 81% of total revenue.\nSuffice to say, concentrating so much of the business on an activity regulators are so intensely scrutinizing presents an unparalleled risk to shareholders. Among the SEC's concerns is that retail investors are perceiving their experience as free, when in fact they're being charged fees they can't see in the form of paying a worse price for the shares they're buying.\nTo make matters worse, the SEC has outlined concerns about \"gamified\" investment platforms that encourage clients to trade by using appealing visual graphics. These features in part have fueled investor appetite for \"meme stocks\" like GameStop and AMC Entertainment, and the SEC says they contribute to worse outcomes for clients. The surge in both of these stocks (based on no real fundamental reason) was synonymous with the Robinhood platform.\nRobinhood can be praised for bringing a wave of new, younger investors into the financial markets, and that's a long-term positive. But its main source of revenue isn't a legal practice in places like the United Kingdom, and the European Union has issued a warning to brokers, saying that accepting payments for order flow is not compatible with rules that put client needs first.\nInvestors considering a long-term position in Robinhood might want to weigh up the risks against the company's growth prospects, since for now it looks like they are confined to the U.S. -- and even that's not a guarantee.","news_type":1},"isVote":1,"tweetType":1,"viewCount":348,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807821639,"gmtCreate":1628030847321,"gmtModify":1703499750099,"author":{"id":"3585991559240251","authorId":"3585991559240251","name":"ganweisheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585991559240251","authorIdStr":"3585991559240251"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/807821639","repostId":"2156473129","repostType":4,"repost":{"id":"2156473129","kind":"highlight","pubTimestamp":1628001180,"share":"https://ttm.financial/m/news/2156473129?lang=&edition=fundamental","pubTime":"2021-08-03 22:33","market":"us","language":"en","title":"Robinhood: Why You Need to Understand Payment for Order Flow","url":"https://stock-news.laohu8.com/highlight/detail?id=2156473129","media":"Motley Fool","summary":"It's a small piece of financial jargon that poses a potentially existential risk to Robinhood's business.","content":"<p>If you're a curious observer of <b>Robinhood Markets</b>' (NASDAQ:HOOD) recent initial public offering, you've likely heard the term \"payment for order flow.\" Market pundits continue to debate whether it benefits or harms retail investors.</p>\n<p>Traditional stockbroking models have gone out the window. Brokers used to charge a fee to execute a trade for a client -- nominal in many cases, but higher if there was some advice attached. Now, investors can buy and sell stocks completely free of charge through their smartphones, thanks to a consumer revolution led by Robinhood -- and its reliance on a different revenue source.</p>\n<p>Payment for order flow involves Robinhood selling its customer's market orders to third parties, who execute them and earn fees for doing so, with a portion given to Robinhood as payment for routing the customer's order to that particular third party.</p>\n<p>Put really simply, instead of the customer paying a direct commission, the customer has effectively become the product.</p>\n<p><img src=\"https://static.tigerbbs.com/47a6ac9c1c06da81193b76e20952166c\" tg-width=\"700\" tg-height=\"469\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>How it works</h3>\n<p>Most people with an understanding of the stock market know that when someone purchases shares, there needs to be a willing seller. The two parties use a broker to meet digitally at a stock exchange (like the New York Stock Exchange or the Nasdaq Stock Market), where their transaction is facilitated.</p>\n<p>But times have changed. The chairman of America's market regulator, the Securities and Exchange Commission (SEC), recently noted that only 53% of all customer orders actually go through an exchange. About 38% are handled by wholesalers instead, more formally known as market makers.</p>\n<p>That's where payment for order flow takes center stage.</p>\n<p>Market makers stand ready to buy and sell shares each trading day. They make money by setting the bid-ask spread. Let's say a market maker is willing to buy a share of <b>Apple</b> for $145.50, and it's willing to sell a share for $145.60. The difference of $0.10 (the spread) is its profit.</p>\n<p>When a Robinhood customer places a market order to buy or sell shares of Apple, rather being matched with a seller in the market, they are instead routed to a market maker, because it can be relied on to absorb the transaction in the blink of an eye.</p>\n<p>Market makers can compete with each other for this order flow by lowering spreads -- for example, <a href=\"https://laohu8.com/S/AONE.U\">one</a> might charge a spread of $0.07 instead of $0.10, so the broker would route the order to that firm to get its customer a better price.</p>\n<p>Alternatively, and controversially, market makers can simply pay Robinhood to route its customers' orders to them, partly removing the need to compete. It has drummed up concerns among regulators that retail investors are getting a raw deal when it comes to the pricing and execution of their orders.</p>\n<p>In December 2020, Robinhood paid a $65 million settlement to the SEC after the regulator discovered the practice had deprived customers of $34.1 million, caused by inferior order pricing -- and that's <i>after </i>accounting for customers paying zero commissions.</p>\n<h3>Follow the money</h3>\n<p>Most market making firms are private enterprises, but the publicly traded <b>Virtu Financial</b>&nbsp;offers some insight into just how profitable payment for order flow might be. Although Virtu is not specifically listed as one of the market makers Robinhood routes orders to, it is listed on the New York Stock Exchange website among one of three designated market makers (DMMs).</p>\n<table>\n <thead>\n  <tr>\n   <th><p>Metric</p></th>\n   <th><p>Q1 2021</p></th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td><p>Brokerage, exchange, clearance fees and payments for order flow, net</p></td>\n   <td><p>$259 million</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue</p></td>\n   <td><p>$1.01 billion</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Data source: Virtu Financial.</p>\n<p>Virtu lumps the expense in with other related costs, but the $259 million it spent in that category (in a single quarter) made up almost half of its entire operating expenses. Plus, it's growing -- it spent 49% more on this line item in Q1 2021 than it did in the same quarter last year.</p>\n<p>For the full year 2020, Virtu spent $758 million on the brokerage, exchange, clearance fees and payments for order flow expense -- a number it seems sure to top in 2021 given Q1 numbers.</p>\n<h3>Investor takeaway</h3>\n<p>Payment for order flow is practically the beginning and end of Robinhood's business, at least financially. In 2020, at least 75% of the company's $958 million in revenue was generated from the controversial practice. In the first quarter of 2021, it jumped to 81% of total revenue.</p>\n<p>Suffice to say, concentrating so much of the business on an activity regulators are so intensely scrutinizing presents an unparalleled risk to shareholders. Among the SEC's concerns is that retail investors are perceiving their experience as free, when in fact they're being charged fees they can't see in the form of paying a worse price for the shares they're buying.</p>\n<p>To make matters worse, the SEC has outlined concerns about \"gamified\" investment platforms that encourage clients to trade by using appealing visual graphics. These features in part have fueled investor appetite for \"meme stocks\" like <b>GameStop</b>&nbsp;and <b>AMC Entertainment</b>, and the SEC says they contribute to worse outcomes for clients. The surge in both of these stocks (based on no real fundamental reason) was synonymous with the Robinhood platform.</p>\n<p>Robinhood can be praised for bringing a wave of new, younger investors into the financial markets, and that's a long-term positive. But its main source of revenue isn't a legal practice in places like the United Kingdom, and the European Union has issued a warning to brokers, saying that accepting payments for order flow is not compatible with rules that put client needs first.</p>\n<p>Investors considering a long-term position in Robinhood might want to weigh up the risks against the company's growth prospects, since for now it looks like they are confined to the U.S. -- and even that's not a guarantee.</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>Robinhood: Why You Need to Understand Payment for Order Flow</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\">\nRobinhood: Why You Need to Understand Payment for Order Flow\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-03 22:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/08/03/robinhood-understand-payment-for-order-flow/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you're a curious observer of Robinhood Markets' (NASDAQ:HOOD) recent initial public offering, you've likely heard the term \"payment for order flow.\" Market pundits continue to debate whether it ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/03/robinhood-understand-payment-for-order-flow/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HOOD":"Robinhood"},"source_url":"https://www.fool.com/investing/2021/08/03/robinhood-understand-payment-for-order-flow/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2156473129","content_text":"If you're a curious observer of Robinhood Markets' (NASDAQ:HOOD) recent initial public offering, you've likely heard the term \"payment for order flow.\" Market pundits continue to debate whether it benefits or harms retail investors.\nTraditional stockbroking models have gone out the window. Brokers used to charge a fee to execute a trade for a client -- nominal in many cases, but higher if there was some advice attached. Now, investors can buy and sell stocks completely free of charge through their smartphones, thanks to a consumer revolution led by Robinhood -- and its reliance on a different revenue source.\nPayment for order flow involves Robinhood selling its customer's market orders to third parties, who execute them and earn fees for doing so, with a portion given to Robinhood as payment for routing the customer's order to that particular third party.\nPut really simply, instead of the customer paying a direct commission, the customer has effectively become the product.\n\nImage source: Getty Images.\nHow it works\nMost people with an understanding of the stock market know that when someone purchases shares, there needs to be a willing seller. The two parties use a broker to meet digitally at a stock exchange (like the New York Stock Exchange or the Nasdaq Stock Market), where their transaction is facilitated.\nBut times have changed. The chairman of America's market regulator, the Securities and Exchange Commission (SEC), recently noted that only 53% of all customer orders actually go through an exchange. About 38% are handled by wholesalers instead, more formally known as market makers.\nThat's where payment for order flow takes center stage.\nMarket makers stand ready to buy and sell shares each trading day. They make money by setting the bid-ask spread. Let's say a market maker is willing to buy a share of Apple for $145.50, and it's willing to sell a share for $145.60. The difference of $0.10 (the spread) is its profit.\nWhen a Robinhood customer places a market order to buy or sell shares of Apple, rather being matched with a seller in the market, they are instead routed to a market maker, because it can be relied on to absorb the transaction in the blink of an eye.\nMarket makers can compete with each other for this order flow by lowering spreads -- for example, one might charge a spread of $0.07 instead of $0.10, so the broker would route the order to that firm to get its customer a better price.\nAlternatively, and controversially, market makers can simply pay Robinhood to route its customers' orders to them, partly removing the need to compete. It has drummed up concerns among regulators that retail investors are getting a raw deal when it comes to the pricing and execution of their orders.\nIn December 2020, Robinhood paid a $65 million settlement to the SEC after the regulator discovered the practice had deprived customers of $34.1 million, caused by inferior order pricing -- and that's after accounting for customers paying zero commissions.\nFollow the money\nMost market making firms are private enterprises, but the publicly traded Virtu Financial offers some insight into just how profitable payment for order flow might be. Although Virtu is not specifically listed as one of the market makers Robinhood routes orders to, it is listed on the New York Stock Exchange website among one of three designated market makers (DMMs).\n\n\n\nMetric\nQ1 2021\n\n\n\n\nBrokerage, exchange, clearance fees and payments for order flow, net\n$259 million\n\n\nRevenue\n$1.01 billion\n\n\n\nData source: Virtu Financial.\nVirtu lumps the expense in with other related costs, but the $259 million it spent in that category (in a single quarter) made up almost half of its entire operating expenses. Plus, it's growing -- it spent 49% more on this line item in Q1 2021 than it did in the same quarter last year.\nFor the full year 2020, Virtu spent $758 million on the brokerage, exchange, clearance fees and payments for order flow expense -- a number it seems sure to top in 2021 given Q1 numbers.\nInvestor takeaway\nPayment for order flow is practically the beginning and end of Robinhood's business, at least financially. In 2020, at least 75% of the company's $958 million in revenue was generated from the controversial practice. In the first quarter of 2021, it jumped to 81% of total revenue.\nSuffice to say, concentrating so much of the business on an activity regulators are so intensely scrutinizing presents an unparalleled risk to shareholders. Among the SEC's concerns is that retail investors are perceiving their experience as free, when in fact they're being charged fees they can't see in the form of paying a worse price for the shares they're buying.\nTo make matters worse, the SEC has outlined concerns about \"gamified\" investment platforms that encourage clients to trade by using appealing visual graphics. These features in part have fueled investor appetite for \"meme stocks\" like GameStop and AMC Entertainment, and the SEC says they contribute to worse outcomes for clients. The surge in both of these stocks (based on no real fundamental reason) was synonymous with the Robinhood platform.\nRobinhood can be praised for bringing a wave of new, younger investors into the financial markets, and that's a long-term positive. But its main source of revenue isn't a legal practice in places like the United Kingdom, and the European Union has issued a warning to brokers, saying that accepting payments for order flow is not compatible with rules that put client needs first.\nInvestors considering a long-term position in Robinhood might want to weigh up the risks against the company's growth prospects, since for now it looks like they are confined to the U.S. -- and even that's not a guarantee.","news_type":1},"isVote":1,"tweetType":1,"viewCount":310,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}